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:
Here is a list of tweets that I posted to counter that:
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?