Tuur Demeester: Why Goldbugs Should Own Some Bitcoin

from WallStForMainSt

Jason Burack of Wall St for Main St interviewed returning guest, Austrian School Economist, author and investor, Tuur Demeester. His articles are posted on his Twitter handle @Tuurdemeester and he writes for popular Bitcoin and block chain websites.

Tuur Demeester is an independent investor and commentator. He has a background in Austrian economics, the school that specializes in the study of boom-and-bust cycles in the economy. He first discovered Bitcoin on a research trip in Argentina, and started recommending it as an investment at $5 in January 2012.

During this 30+ minute interview, Jason asks Tuur about the state of the global economy. Tuur grew up in Europe, moved to the US and then moved to Latin America. He says emerging markets are used to problems and difficulties more than Americans are and that they are more resilient and more likely to adapt.

Tuur says Bitcoin has dynamic growth in many African countries right now and that Bitcoin will help protect citizens of countries like China from devaluations.

Jason asks Tuur questions about where the $300+ million invested in the Bitcoin and block chain industry went?

Tuur says most of the money went into infrastructure.

Tuur says technologies can always be used for bad things or weaponized by governments or another group and central banks and governments talking about their own private digital currencies and block chains fit into that idea.

Tuur thinks the current large hashing problems with Bitcoin will be solved in different parts and that competing digital currencies like Etherium don’t have a large enough network effect.

To wrap up the interview, Tuur says people will need to be more entrepreneurial and open up an online business

He also cites an Austrian School article saying Bitcoin doesn’t violate Von Mises’ Regression Theorem: http://konradsgraf.com/blog1/2013/10/…

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