Bitcoin Wallpaper (2560×1600) (Photo credit: PerfectHue)
I had a Twitter debate and discussion with Chris Dixon about Bitcoins in Iceland. I have to say I was rather disappointed by the lack of vision on the part of a Venture Capitalist and Investor who is much respected by the community. Here is what boiled my noodles:
@BalaInIceland @pmarca @jeffjarvis @startupiceland buying Bitcoin with fiat is illegal. No one will invest in Iceland until they fix this.
— cdixon.eth (@cdixon) June 16, 2014
Here is a list of tweets that I posted to counter that:
@cdixon disagree with you there r a number of bitcoin miners here don't believe the media @pmarca @jeffjarvis @startupiceland
— Bala Kamallakharan (@BalaInIceland) June 16, 2014
@cdixon @pmarca @jeffjarvis @startupiceland check out http://t.co/xFoZV6lKTo @auroracoinIS
— Bala Kamallakharan (@BalaInIceland) June 16, 2014
@cdixon see the edits to the reddit post http://t.co/lbwdi5JwOY @pmarca @jeffjarvis @startupiceland
— Bala Kamallakharan (@BalaInIceland) June 16, 2014
@cdixon a lot is lost in translation This does not mean Bitcoin is illegal @pmarca @jeffjarvis @startupiceland
— Bala Kamallakharan (@BalaInIceland) June 16, 2014
@cdixon 2/ Mining is legal Owning bitcoin is legal Selling goods and services for bitcoin is legal @pmarca @jeffjarvis @startupiceland
— Bala Kamallakharan (@BalaInIceland) June 16, 2014
@cdixon every policy choice needs a champion and I know we can change minds in Iceland faster @pmarca @jeffjarvis @startupiceland
— Bala Kamallakharan (@BalaInIceland) June 16, 2014
@cdixon it is illegal to buy any currency with fiat in iceland without the central bank approving it @pmarca @jeffjarvis @startupiceland
— Bala Kamallakharan (@BalaInIceland) June 16, 2014
1/ When did entrepreneurs require a policy change to innovate… sad to see @cdixon believe in that philosophy
— Bala Kamallakharan (@BalaInIceland) June 16, 2014
2/ I guess @Uber waited for policy change before launching their solution or @Airbnb according to @cdixon
— Bala Kamallakharan (@BalaInIceland) June 16, 2014
3/ @cdixon believes no one will invest in Iceland because the policy does not align with @Bitcoin usage I beg to differ, Iceland will invest
— Bala Kamallakharan (@BalaInIceland) June 16, 2014
Coming back to my argument, I think Bitcoins work in Iceland. We need to accommodate the policy around that. There is Auroracoin which has been mined and distributed to all Icelanders, it could be the basis for conversion. We just need startups that interface with Auroracoin and Bitcoin thereby facilitate a transaction mechanism that could enable a Cryptocurrency and Digital currency in Iceland. I don’t predict the future, but one can see the value and cost associated with Bitcoins. I am pretty sure that Bitcoins will become one of the transaction mechanism on the internet.
Here is an open challenge to Chris Dixon, to counter his statement that no-one will invest in Iceland until a policy change is made about Bitcoins. I will invest in Iceland in any Startup that is focusing on Bitcoins and Iceland. I think he is wrong, Iceland is the best place for things like this. I remember in 2009, when I heard people saying the same things, Iceland will never recover and Iceland will have no investors after this financial collapse well what happened in the last 5 years? Iceland is the only country in the OECD nations to actually start growing again faster than any other country. Who invested in Iceland? Icelanders did and I pretty sure if a compelling case is made for Cryptocurrency I believe Icelanders will invest in it as well.
What do you think?
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