Software hasn't eaten the banking industry
yet. Software has eaten a lot of industries.
There's some that it just hasn't and
banking is still there, you know?
Stripe's eating them slowly -
they're doing a pretty good job but the
the banks are in
trouble if it's not Stripe, it'll be somebody else.
And you love code but you
don't seem to be as bullish on Bitcoin.
Do you have any - Could you break down like why because you're talking about this
big database, that's more secure, for
faster transactions. It seems like
Bitcoins hitting at least some of those.
I'm neither here nor there on Bitcoin.
Yeah, um, yeah.
What did you think when you
read like Satoshis white paper for the
first time?
Were you like, this is pretty interesting or?
That was pretty
clever. it's just like
The thing is, this always gets like the crypto people angry but (laughing)
There are transactions that are not within the
balance of the law and those in
- there's obviously many of laws in different
countries and normally cash is used for
these transactions but in
order for illegal transactions to occur,
cash must also be used for
legal transactions. You need an illegal
to legal bridge.
That's where crypto
comes in.
So is it kind of the dark net stuff?
It can't be entirely dark because
otherwise how do you buy normal stuff?
And cash these days is used just much
rarer. It's hard - it's like increasingly
difficult use cash. Some places you can't
use cash at all.
So there's a forcing function for
transactions that are illegal, quasi
legal and in some cases legal. But
got to have something - it's got to be both
legal and illegal. Doesn't count
otherwise.
It can't just be transactions within an illegal
economy because how do you buy like, you
know, food and a house or something? You must have a illegal to legal bridge.
So where I see crypto as respectively is as
a replacement for cash but not as a
but not as a replacement for as a primary or not as - I
do not see crypto being the primary database.
Now this is not to be taken like I'm being judgmental about crypto
and it's
actually I think there's a lot of things
that are illegal that shouldn't be
illegal but you know. So it's not as
though I think this sometimes
governments just have too many laws
about - they should only have so many things that are illegal
 
