One of the worlds most knowledagble Venture Capitalists in payments view on BTC

[kaysersoze]

Keith Rabois from khosla ventures is one of the most knowledgeable VC:s in the payment space,  he says that government almost certainly will ban all marketing on BTC. He refers to days of paypal/yahoo. Must be a bit  alarming coming from a name like him, link to the interview; http://www.youtube.com/watch?v=Ia1bqXuOg04

Any thoughts comments on this.. scares me

[ohiofarmer]

Keith Rabois from khosla ventures is one of the most knowledgeable VC:s in the payment space,  he says that government almost certainly will ban all marketing on BTC. He refers to days of paypal/yahoo. Must be a bit  alarming coming from a name like him, link to the interview; http://www.youtube.com/watch?v=Ia1bqXuOg04

I hate to say it, but he makes very good points. On the other hand, Bernanke has spoken positively about bitcoin and the senate hearings went well... Also, I'd say he's probably kicking himself in the bottom for not investing in bitcoin early on. He is a VC after all...

[superduh]

i'd prob change the subject. seems quite an opinion

[kaysersoze]

i'd prob change the subject. seems quite an opinion

It is a very well informed and valuable opinion coming from a man which job is to invest in the future and specially the payment space....

[superduh]

i'd prob change the subject. seems quite an opinion

It is a very well informed and valuable opinion coming from a man which job is to invest in the future and specially the payment space....

but working at paypal for a few years and square a few years before having to leave doesn't necessarily prove you are one of the most knowledgeable VC in the payments space. the world is bigger than US as well. i will check his speech later i was just trying to say you may be putting to much behind his presitge

[kaysersoze]

i'd prob change the subject. seems quite an opinion

It is a very well informed and valuable opinion coming from a man which job is to invest in the future and specially the payment space....

but working at paypal for a few years and square a few years before having to leave doesn't necessarily prove you are one of the most knowledgeable VC in the payments space. the world is bigger than US as well. i will check his speech later i was just trying to say you may be putting to much behind his presitge

although he is an payment expert ( on board of xoom as well,  online mobile payment company) your fair point is that there are tons of historic data that has shown that "experts" in any given field have constantly been very wrong on future assumptions within their own field ... hope this one will add

[empoweoqwj]

Keith Rabois from khosla ventures is one of the most knowledgeable VC:s in the payment space,  he says that government almost certainly will ban all marketing on BTC. He refers to days of paypal/yahoo. Must be a bit  alarming coming from a name like him, link to the interview; http://www.youtube.com/watch?v=Ia1bqXuOg04

Any thoughts comments on this.. scares me

What do you mean "ban all marketing on BTC"?

And yes, as others point out, bitcoin is global. If the US chooses to opt out, its still a viable currency for the other 250 nations on the planet.

[empoweoqwj]

Yes, Bitcoin risk, that is, I know a bitcoin secure transaction site: http://lakebtc.com,  you can try.

That sentence  sounds so dodgy I wouldn't click on that link in a million years. I won't try thanks.

[cypherdoc]

lots of hubris oozing from this "expert".

just ban all marketing 'eh?  like "we can do whatever the hell we want to do".  really?  we're not talking about money laundering here, nor child pornography.  the fact that the Silk Road takedown did exactly the opposite to the price of Bitcoin of that predicted by these experts says it all.  ppl are moving into Bitcoin for very different reasons, namely store of value and its future potential as a free, non-manipulated currency.

if the gov't tries to do something unreasonable or overbearing to Bitcoin, there will be a backlash with much unintended consequence.  i can assure you of that.

[mgio]

The interviewer is only up 75%?? What a loser!

I'm a recent adopter and I'm up 10,000%.

[empoweoqwj]

The interviewer is only up 75%?? What a loser!

I'm a recent adopter and I'm up 10,000%.

Can't be that recent if you are up 10,000% ..... unless you define 10,000% differently from me 

75% does sound a bit pathetic - sounds like he was very late to the game 

[beetcoin]

he says at the beginning "i am not completely sure how bitcoin will play out." but still, he has a point.

[Sindelar1938]

He is pretty articulate
His view that btc in US is gonna lack adoption in more unstable countries is a good point (I think)

[amincd]

Everything changed when the internet reached mass adoption. Laws that had been enforced for decades became unenforceable almost overnight. The same thing could very well happen as a result of Bitcoin's solution to the Two Generals' problem and the advent of decentralized and automated synchronization of data.

[hilariousandco]

I can't see how or under what justification the US government can ban the use of Bitcoin or how they would prosecute businesses for accepting them. And if they do, prepare for lawsuits. It's certain that they're going to put regulations on it, but an outright ban of it or to prosecute businesses that use it? Nah.

The interviewer is only up 75%?? What a loser!

I'm a recent adopter and I'm up 10,000%.

Can't be that recent if you are up 10,000% ..... unless you define 10,000% differently from me 

75% does sound a bit pathetic - sounds like he was very late to the game 

I'm up almost 1000% (or was at BTCs peak)  .

[empoweoqwj]

He is pretty articulate
His view that btc in US is gonna lack adoption in more unstable countries is a good point (I think)

He may or may not be articulate.

Unfortunately your 2nd sentence isn't. I think you missed a word or three out.

[NeedForBitcoin]

So far he's wrong regarding regulators. He's got it reversed. Europe and China are more tough on Bitcoin than America.  

[empoweoqwj]

So far he's wrong regarding regulators. He's got it reversed. Europe and China are more tough on Bitcoin than America.  

Europe isn't a country. The response will vary widely between countries in Europe. As for China "being more tough", we'll find out how that plays out. Its all politics.

[PenAndPaper]

Keith Rabois from khosla ventures is one of the most knowledgeable VC:s in the payment space,  he says that government almost certainly will ban all marketing on BTC. He refers to days of paypal/yahoo. Must be a bit  alarming coming from a name like him, link to the interview; http://www.youtube.com/watch?v=Ia1bqXuOg04

Any thoughts comments on this.. scares me

So one vc makes random thoughs about bitcoin. Scary indeed 

[EvilPanda]

US government made some bad decisions in the past. Alcohol used to be baned but this didn't stop people from drinking it. So is weed now and most people somehow tried it, so this doesn't scare me at all. If BTC has the support of the people it will survive.

[empoweoqwj]

US government made some bad decisions in the past. Alcohol used to be baned but this didn't stop people from drinking it. So is weed now and most people somehow tried it, so this doesn't scare me at all. If BTC has the support of the people it will survive.

And that was within something the government thought they could control because it was within their borders. Sod all chance with controlling bitcoin. Same applies to all governments.

[hilariousandco]

US government made some bad decisions in the past. Alcohol used to be baned but this didn't stop people from drinking it. So is weed now and most people somehow tried it, so this doesn't scare me at all. If BTC has the support of the people it will survive.

And that was within something the government thought they could control because it was within their borders. Sod all chance with controlling bitcoin. Same applies to all governments.

Yeah, but we all know how much America likes to play World Police.

http://www.youtube.com/watch?v=IhnUgAaea4M

[bitpop]

just trying to buy low

[empoweoqwj]

Indian phuck is just trying to buy low

I think you got the wrong topic dude, or the wrong forum, hard to tell 

[evoked22]

Is there a reason the majority of concerns are around what the government is going to decide and think. Have you not realised yet, they are the ones on the wrong side of the fence. If they accept it, it means that have accepted defeat and dont want to die out. The ones that dont accept it will fight it until they are replaced or weakened.

Its no longer in their hands so please stop waiting on a response and just keep pushing forward. Its already too late spreading faster than they can try to stop. Its like trying to stop the internet or social network media, Its not going to happen.

Happy trading and mining

to the moon!

[empoweoqwj]

Is there a reason the majority of concerns are around what the government is going to decide and think. Have you not realised yet, they are the ones on the wrong side of the fence. If they accept it, it means that have accepted defeat and dont want to die out. The ones that dont accept it will fight it until they are replaced or weakened.

Its no longer in their hands so please stop waiting on a response and just keep pushing forward. Its already too late spreading faster than they can try to stop. Its like trying to stop the internet or social network media, Its not going to happen.

Happy trading and mining

to the moon!

That's very idealistic, and I hope you are right. But governments controls laws and banks. Bitcoin will have a very long hard struggle without being able to interface with banks.

[hilariousandco]

Is there a reason the majority of concerns are around what the government is going to decide and think. Have you not realised yet, they are the ones on the wrong side of the fence. If they accept it, it means that have accepted defeat and dont want to die out. The ones that dont accept it will fight it until they are replaced or weakened.

Its no longer in their hands so please stop waiting on a response and just keep pushing forward. Its already too late spreading faster than they can try to stop. Its like trying to stop the internet or social network media, Its not going to happen.

Happy trading and mining

to the moon!

That's very idealistic, and I hope you are right. But governments controls laws and banks. Bitcoin will have a very long hard struggle without being able to interface with banks.

I don't think it will. I reckon it can work alongside them fine. Governments will obviously regulate it, but it'll be as futile as the war on drugs if they try to kill or suppress it.

[empoweoqwj]

Is there a reason the majority of concerns are around what the government is going to decide and think. Have you not realised yet, they are the ones on the wrong side of the fence. If they accept it, it means that have accepted defeat and dont want to die out. The ones that dont accept it will fight it until they are replaced or weakened.

Its no longer in their hands so please stop waiting on a response and just keep pushing forward. Its already too late spreading faster than they can try to stop. Its like trying to stop the internet or social network media, Its not going to happen.

Happy trading and mining

to the moon!

That's very idealistic, and I hope you are right. But governments controls laws and banks. Bitcoin will have a very long hard struggle without being able to interface with banks.

I don't think it will. I reckon it can work alongside them fine. Governments will obviously regulate it, but it'll be as futile as the war on drugs if they try to kill or suppress it.

The acid test will be in 2014 whether banks in the States and Europe are actually prepared to work long term with properly set-up bitcoin-related companies. I suspect they will be. To date, bitcoin companies have been very "flaky" so its not surprising banks have dumped them. Lack of clear regulation and guidelines has panicked banks as well.