I decided to see what they had to say to a question I had. This is the responses they gave! :3 How do you see yourself combating the rapid fluctuation of price vs value when dealing with merchants?

Brian Armstrong: good question

Brian Armstrong: two thoughts on that

Brian Armstrong: one would be an automatic withdrawal rule they could setup

Brian Armstrong: so it just gets converted automatically when it arrives and deposits once a day or something

Brian Armstrong: the other is that i think the exchange rate volatility is largely a short term problem, volatility decreases as volume of transactions increases

Brian Armstrong: so if you believe btc volume of transactions will be much higher in 5 years, then exchange rate volatility will be much lower

→Makes sense, Saw the site mentioned on hacker news, so that means you'll probally mentioned on slashdot at some point

→^.^

Brian Armstrong: at least that is my guess :)

Brian Armstrong: hope so

Brian Armstrong: maybe I should submit it?

Brian Armstrong: haven't slashdotted in a few years

→heh, you could try, though slashdot seems to be consolidated to a few power submitters lately, might try reddit?

→http://www.reddit.com/r/bitcoin would be a start?

→http://news.ycombinator.com/item?id=4177605 that's the article mentioning you btw

Brian Armstrong: already submitted :)

Brian Armstrong: http://www.reddit.com/r/Bitcoin/comments/vswkw/silicon_valle...

→Where bitcoin could REALLY take off is CPU usage cycles

→Since bitcoin is fractional

Brian Armstrong: oh yeah, tiny amounts

→Instead of charging pennies per cycle, you could specify exact amounts per clock

→so instead of 1 penny per second

→.00001 per clock or whatever is the better value

→It'd be alot more precise

→It must be interesting to start a company like this. Are you / your company registered in the united states? And if so, How do you feel about their reaction to bitcoin?

Brian Armstrong: yep that'd be interesting for sure

Brian Armstrong: we're incorporated in delaware (U.S.)

Brian Armstrong: based in california

Brian Armstrong: we have the backing of really good investors who want to see innovation happen

Brian Armstrong: as long as we pursue licensing as a money transmitter (same as facebook credits, paypal, etc) i think we'll be ok

Brian Armstrong: it will def be controversial though

→I wonder how mt.gox handles it

Brian Armstrong: they are incorporated outside the U.S. (Japan I believe)

→nods

→Well, If it's ok with you, i'll post this to the hacker news article and see what kind of discussions it generates? Only with your permission of course! =^.^=

Brian Armstrong: sure, that'd be fine with us!

user:	allaun1
created:	June 20, 2012
karma:	5