Continuing Education... Wences Casares on Bitcoin and Xapo
By Amy Willis
Would you trust your mom to keep your Bitcoin safe? This and other tricky questions were the subject of Russ’ conversation with Wences Casares this week. Casares, the founder of Xapo, a “parking garage” for Bitcoin, is bullish on Bitcoin’s prospects.
But how bullish are you?
1. As Casares suggests, imagine you were going to launch a new digital currency, Russcoin. What decisions would you have to make before you could succeed?
2. What are the challenges an individual faces in keeping his Bitcoin safe? How does an institution such as Xapo promise to help? Are there other means by which you could guarantee the safety of your Bitcoin?3. In your opinion, is Bitcoin a good investment? Why or why not?
4. How does Bitcoin put competitive pressure on countries to treat their own currencies better than they have in the past? Do you see this pressure increasing or decreasing as time goes by? Explain.