"welcome to the a 16z podcast I'm Michael Copeland there are a few things as old as financial catastrophe except for maybe finance but in the latest fiscal meltdown in Greece people started asking ques..."

"for things with their phone mims is joined by coinbase CEO and co-founder brian armstrong in this segment of the pod for a wide-ranging discussion about the current state and future possibility of Bit..."

"Bitcoin Greece and what's next for cryptocurrency on this segment of the a 16z podcast Christopher Mims kicks it off my interest is really as a technology entrepreneur my belief of the world is that t..."

"attention it's funny to say that because that my introduction of bitcoins well I feel like people talk a lot about Bitcoin and kind of a misinformed way to look at it is if you don't ask that like gol..."

"yes I think that's a great example it's actually one of several so I kind of more broadly think of it as three major categories where Bitcoin could be the most useful one of them is what an example of..."

"what I call brand-new internet applications where that are uniquely enabled by Bitcoin so by that I mean that it's not disrupting the traditional financial services industry or something like that it'..."

"green fields idea yes I mean you know there's let's say division about Bitcoin and the reason that I kept paying attention to was that there felt like this burgeoning developer community you know it r..."

"blog also very pocketed former Greed's finance minister who's now suggesting criminal charges for talking about setting up an alternate currency yeah so he you know he said you could create this an ea..."

"to about their coin like oh it's a deflation era currency because there's a cap on how bitcoins can be created become irrelevant because the central bank could say hey you know what we want place the ..."

"Greece few weeks ago was at this point where people are getting desperate they're sending people I have used I just said you know why couldn't you represent that with you know the blockchain technolog..."

"doesent route around the damage well Brian I mean I just wanted to ask you you know given um how far-fetched a lot of that discussion is you know what have you seen in terms of discussion or later tha..."

"they're saying when they say that but I don't know just just from like a more broad perspective of what we think is interesting right now a lot of the focus historically has been on Bitcoin on the pri..."

"metric to focus on other than price is actually number of daily transactions on the Bitcoin network and that's gone from about 50,000 a day to 100,000 a day in the last 12 months don't realize that th..."

"being something much less volatile we've seen volatility drop every year for the last three years that ends up being a little bit more like a commodity like gold but does the average person really car..."

"Bitcoin or something like that but should every investor own maybe one Bitcoin yes I think I think they should and the reason is not so much as an investment it's to start learning about this technolo..."

"the things they talked about in my article for the journal was look you know Bitcoin doesn't make you know like I'm different to two people in Greece right now yeah and I think the ongoing challenge f..."

"how to safely store it on a thumb drive in a fire throughs box and all that well I mean certainly our approach has been to try to make it easy to use for the average person so it wasn't that long ago ..."

"services as well like security audits and financial audits and all sorts of things so I think those things will all help but is there gonna be some moment where Bitcoin just suddenly is mainstream no ..."

"transactions per day it's roughly doubled in last year but it's been a pretty steady thing there wasn't there wasn't a moment where suddenly it doubled in a week or something like that the one the one..."

"on the usability challenges around Bitcoin I mean I feel like it's still very unapproachable topic for some people and that they feel like it's it's complicated or they still don't quite understand Bi..."

"MasterCard but they're not even allowed to you know give you a discount if you use cash so we have this pretty good payment system in place so the usability problem is I mean this is what people alway..."

"if you're talking about winning on usability the easiest place to go is people who have high pain points around their current options or another way to put it would be their their next best alternativ..."

"have like the whole banking model really doesn't work in those in those demographics with like a checking and like a bank branch in the corner you also have things like micro transactions which just a..."

"we talked a little we touched a little bit earlier on sidechains I thought it might be interesting to talk about that just for a couple of minutes because I think it could have a big impact you know I..."

"of exchange you know my perspective is giving people people the experiment is good the same way that you know letting people build all of these protocols on top of the original protocols we've been ab..."

"will survive the test of time well Brian lemme just exactly you say thank you for your time and your thoughts on this I'm a journalist I'm a little sad this is going to be public because I feel like t..."