I think bitcoin is the future of money. I’ve heard people saying they don’t think it’s well regulated. But…
… blockchain… its technology, its $34 billion market cap, and really its promise, is that it can make money practically instantly.
Will it catch on? I don’t know, but I think the technology is real. It really is peer-to-peer money, and it works. But it’s hard to wrap your head around what it might do in terms of payment infrastructure. It’s very hard to understand.
Are we done here? No. Let’s move on to…
… the way the bitcoin “smart” things work. Coin.com… are building a platform that integrates bitcoin into the lives of your friends, and allows you to gift bitcoin (as well as fiat) or fiat currency (which is a serious threat if it happens to be vaporized.) Once that infrastructure is there, of course, bitcoin becomes a fiat currency, and it’s fine and dandy. But you can (and you should!) also use it to access all kinds of things: to buy any kind of ticket, to make any kind of gift (like a mobile phone), and everything you can find in any shopping mall, wine bar, or shared apartment.
But here’s the thing. You could build this infrastructure for bitcoin with pennies, or you could build it from scratch, with the resources of your own company (ed note: I know of one cryptocurrency company that’s been building this infrastructure for years.) And that’s what Coin.com is doing. You would want Coin.com to build this infrastructure and then sell the information that’s going to come from it to other people who might be interested in building their own infrastructure. What you would do is you’d give Coin.com a set of security code numbers, and that’s it. The infrastructure is built. It can be used as it should. It’s a combination of the control it was built with and the marketing that those people will have to sell. That’s the value.
Bitcoin was and remains the highlight of Coin.com. Not in an overtly manipulative way. Just as Facebook is the number one product in the world. But a good story, and true inspiration, to a community.
What’s to come: The opening of the auditorium, a presentation by Billy Wooten…
This week’s guest is Billy Wooten, co-founder and CEO of Coin.com
Follow Coin.com on twitter @coincom
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I Now We’re Gold! is a weekly news round-up of the commodities market. This weekly podcast has been produced by the token and cryptocurrency news site Coin.com and its host Matthew Asher. The podcast is written by Matthew Asher, the founder and CEO of Coin.com, and it is available in PDF, mobile, and online podcast formats. Please download or listen to it on SoundCloud, iTunes, or in your podcast player of choice.