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The extreme volatility on Wednesday cooled a regarding people off, prompting some to call Bitcoin a bubble to be able to burst, and caution everyone about taking it too seriously. However, the New york Times reported that top level investors pertaining to example the Winklevoss twins dedicated to Bitcoin.
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JK: I said I wouldn't back again into it unless we'd the technical side taken care of, the legal side as well as the money behind it. We hired 7 lawyers to execute the legal side, and convinced Miron Cuperman who worked on PCI compliance at Google, to join as the CTO. He was a tremendously big fan of Bitcoin and he's working for the people full time now, he's pretty fantastic. Having him really convinced me it was worth taking. We also raised 400, 000 in seed money and right now most folks are not implementing these a salary, so we're working really hard on doing it.
JK: I do not see it so almost as much as a bubble, but rather an extended period of volatility. You're going to see points where the price jumps up and bumps down, I am see the buying exploding, it's extremely volatile because it is extremely new, and quite a few people are jumping on it too instantly. Some others who got into it early are cashing out right and after this. I think the price is going to change often over the following 6 months and two years. Right now there are I consider 500 merchants accepting bitcoins through Bitpay, you could rent hotels with bitcoins, and lots of people are accepting it to be a form of payment. Wordpress is the 25th favorite site available anywhere and they accept bitcoins.
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