Episode 34 On Bitcoin and ICO

Several days before the recording, Bo sent me few localbitcoins links and suggested that I could get in touch with these sellers, and ask them about bitcoin situation in China. I didn't do, because... I explained in this episode. The episode continues the conversation of bitcoin and the recent ban in China.

1:00 Bo suggested that I could get in touch with bitcoin sellers in China and interview them. His main question is how did Chinese get crazy about bitcoin. How the ban is going to affect the market in China?

16:00 Bitcoin will only be popular when it becomes a daily use, but right now there's not much progress in this approach. Big corporates accept bitcoin for some transactions, but they are not keeping them. Coinbase is one of the products that is building up the industry, from making secure bitcoin wallets to maybe a merchant app. It would be promising if an e-commerce company is built solely on bitcoin transactions.

35:00 What is ICO? Bo explains it by describing it as building a casino. The three characteristics of this casino is 1) the owner is a stranger; 2) the price of the chips is not stable; 3) whether the casino can be completed or not is unknown. And the ICO that Bo might invest is a penguin lap dance business (what???).

49:00 Bo makes comparison between the two investment methods, venture capital and ICO.

Bonus: I attached the part when we chat in Chinese on the topic for about 15 minutes.