Cambodian, Indian Bitcoin IPO? Marc Faber on Leaping from Unbanked to Crypto

[kekky]

In our latest Squawkonomics interview, we asked Marc Faber about David Moskowitz's point he raised about how there is great interest in bringing cryptocurrencies to unbanked populations in developing countries. Countries like Cambodia only have 1 stock in its exchange, while other Southeast Asian and African countries still do not have a stock exchange. We explore the idea of a Bitcoin IPO being the first IPO in a country, thereby becoming a part of that country's history.


Check out the full 4 minutes where Marc Faber talks Bitcoin IPOs in Cambodia, India, and more at https://www.youtube.com/watch?v=_5YwtyDZ0jU&feature=youtu.be

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[bryant.coleman]

Don't know much about Cambodia, but India is not a very friendly place, as far as Bitcoins are concerned. The current Governor of the Reserve Bank of India (Raghuram Rajan) is fiercely anti-Bitcoin.

That said, it is a wrong argument to say that if people don't have a bank account, then they won't be able to use Bitcoin.

[cuddaloreappu]

Don't know much about Cambodia, but India is not a very friendly place, as far as Bitcoins are concerned. The current Governor of the Reserve Bank of India (Raghuram Rajan) is fiercely anti-Bitcoin.

That said, it is a wrong argument to say that if people don't have a bank account, then they won't be able to use Bitcoin.

no, surely i believe our reserve bank governor is hostile towards bitcoin, he is basically a techie..

he is just open about bitcoin

[Este Nuno]

In our latest Squawkonomics interview, we asked Marc Faber about David Moskowitz's point he raised about how there is great interest in bringing cryptocurrencies to unbanked populations in developing countries. Countries like Cambodia only have 1 stock in its exchange, while other Southeast Asian and African countries still do not have a stock exchange. We explore the idea of a Bitcoin IPO being the first IPO in a country, thereby becoming a part of that country's history.


Check out the full 4 minutes where Marc Faber talks Bitcoin IPOs in Cambodia, India, and more at https://www.youtube.com/watch?v=_5YwtyDZ0jU&feature=youtu.be

Is bitcoin really ready to serve a country like Cambodia? It would take a specialised company completely focused on the Cambodian market and offering a customised and safe experience. It would have to be something similar to Circle. Bitcoin by itself doesn't solve any problems for this unbanked segment of the population. Bitcoin it it's raw form would just introduce new problems unless it was handled very carefully by a company basically handling every aspect.

[Ron~Popeil]

In our latest Squawkonomics interview, we asked Marc Faber about David Moskowitz's point he raised about how there is great interest in bringing cryptocurrencies to unbanked populations in developing countries. Countries like Cambodia only have 1 stock in its exchange, while other Southeast Asian and African countries still do not have a stock exchange. We explore the idea of a Bitcoin IPO being the first IPO in a country, thereby becoming a part of that country's history.


Check out the full 4 minutes where Marc Faber talks Bitcoin IPOs in Cambodia, India, and more at https://www.youtube.com/watch?v=_5YwtyDZ0jU&feature=youtu.be

Is bitcoin really ready to serve a country like Cambodia? It would take a specialised company completely focused on the Cambodian market and offering a customised and safe experience. It would have to be something similar to Circle. Bitcoin by itself doesn't solve any problems for this unbanked segment of the population. Bitcoin it it's raw form would just introduce new problems unless it was handled very carefully by a company basically handling every aspect.

If someone is willing to invest in the infrastructure and outreach I hope they succeed. Giving access to world markets to these people is good for everyone.

[FlowerMatt]

The situation in Southeast Asia of bitcoin is not the same. Cambodia and India are doing better. Thailand ,Vietnam and Singapore are the contradictory situation. In Singapore, for example, the government not only allows bitcoin trade ,but also releases tax rules

[beetcoin]

cambodia's population is so small though, something like 10 million. that leaves a small portion of the young people (or those who know how to use computer technology). i think they travel often to vietnam for whatever is lacking in their needs.

[newIndia]

Don't know much about Cambodia, but India is not a very friendly place, as far as Bitcoins are concerned. The current Governor of the Reserve Bank of India (Raghuram Rajan) is fiercely anti-Bitcoin.

That said, it is a wrong argument to say that if people don't have a bank account, then they won't be able to use Bitcoin.

Why do u think Mr. Rajan is against Bitcoin ? I did not get any such statement from his end that shows he is against it. In one instance RBI just warned people about the volatility of Bitcoin, which is quite expected and welcome. Even before joining NSE/BSE, we get to see "Soch kar, Samajh kar, Invest Kar".

[Este Nuno]

cambodia's population is so small though, something like 10 million. that leaves a small portion of the young people (or those who know how to use computer technology). i think they travel often to vietnam for whatever is lacking in their needs.

Actually there's a huge amount of young people because so many old people were killed by the Khmer Rouge.

[bryant.coleman]

Why do u think Mr. Rajan is against Bitcoin ? I did not get any such statement from his end that shows he is against it. In one instance RBI just warned people about the volatility of Bitcoin, which is quite expected and welcome. Even before joining NSE/BSE, we get to see "Soch kar, Samajh kar, Invest Kar".

In the past Raghuram Rajan had lobbied with the Indian government to outlaw the possession of Bitcoin. Even his recent statements prove that he remains staunchly opposed to the crypto.

But Reserve Bank of India (RBI) Governor Raghuram Rajan is not impressed with virtual currencies (VCs), Bitcoins included. RBI on Tuesday raised the red flag, cautioning users, holders and traders of such currencies against the “potential financial, operational, legal, customer protection and security-related risks they are exposing themselves to”.