Tue Nov 10, 2015 4:02 pm

Yuzo -



Thanks for taking our question and all that you do for the Bitcoin.

Q1. You mention the Person - to - Person exchange service, do you see this growing and would you even imagine a world where there were no banks involved (ie for the unbanked) because there were so many reputable person to person providers? Like Abra.

Q2. What is your take on scammers within the bitcoin community? Do you think there is a way to effectively handle them or should it be every man for himself?

Q3. Barry Silbert indicated that there are 5 phases and it appears he is dead on accurate; why do you think this is and do you believe we are about to start the mass adoption phase? What type of app do you think will make ordinary people love bitcoin?



Thanks again and I hope you have a great day!

My pleasure.Do I imagine a world where there are no banks involved? I don't think so, no. I think a pseudo-banking system among only untrusted parties might fail when a systematic counter-party risk shows up.The best way to prevent scammers is to make their risk/reward less attractive. Since they aim to earn a return by taking on a legal risk, the reward becomes less attractive when there is a system of certain penalties in place.I basically agree with Barry because most of web services have a first inflection point after 10mil users growth, but I think he is little too optimistic.We still explain what Bitcoin is to users, which is not ideal. Comparing with other internet service growth history, requiring an explanation is too early for mass adoption.I think a decentralized prediction market could be a kicker even this is very controversial here. Countries in Africa without adequate banking systems may just love wallets and leap frog may happen. On the other hand, there is almost no reason for Japanese to use Bitcoin as a settlement currency because Japanese yen is relatively stable and non-p2p virtual currencies are already everywhere.