“I mean Mt. Gox was starting to have lots of problems and it was clearly on the downturn. When that blew up, you know, that could have been seen a mile away. Silk Road was always a hugely risky operation, which ultimately did get shut down but of course that model live on and there are many more dark net markets at this point.”
Voorhees also appreciated that went on to thrive in the market, for this case he cited Coinbase. The five-year-old company has recently minced $3 million in their Series E funding with a valuation of $10 billion. He also praised Bitpay, and Zappo, one of the biggest Bitcoin wallets, who have developed a model that hasn’t been hacked. He added:
“I think that’s a huge victory. I mean it is capitalism. There are many companies, most startups fail, most projects fail, but ultimately the ones that are put together will persist and get better and better. We have a whole ecosystem in a whole industry that is sprouted out of nothing ten years ago”
Speaking about the growth and adoption of Bitcoin, he pronounced Roger Ver aka Bitcoin Jesus as one of the main people who contributed the most in bitcoin adoption by onboarding more individuals through taxi/cab rides and restaurant visits. He said:
“He did that thousands of times. Literally. I mean people care about this, they see that it’s sensible means of exchange that’s as important to the world as an insensible means or insensible means of communication and speech and not everyone gets that, you know, I think when a lot of these struggles for liberty, the majority doesn’t quite understand it or care and so, you basically have a dedicated minority that has to risk it all and push it forward and struggle through every obstacle to actually bring it to the rest of the world”
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