Post
Topic
Board Bitcoin Discussion
Re: Peter Thiel on Bitcoin
by
NOTtheMessiah
on 02/03/2012, 06:06:01 UTC
The video is now up: http://www.youtube.com/watch?v=5fsUMoHZ1cY#t=857s

Quote from: Peter Thiel
The forms can stay very much the same, the substance can shift quite a bit, and I think something like that has happened with money. The challenge with creating alternate currencies is that it's very hard to get the network effect going. My own theory would be the only kind place to create an alternate network effect, if you really want to create an alternate currency, would be for it to gold-based. There are enough people believe in gold that you could probably get it to the tipping point. Starting something completely different from scratch I think is very hard to do. I'd have a lot more thoughts on it, but I would say you want to go with gold