# Vinay Gupta - Bitcoin Will Die | London Real > One source from the archive of Vinay Gupta's work at guptaoption.com, as plain text for AI agents: [742]. Vinay Gupta, exponential humanitarian. In 2002 Vinay Gupta started the Hexayurt Project, a flat-pack refugee shelter anyone can build from standard industrial panels, with a thirty-year plan behind it: build the capacity to rehouse an expected 300 million climate migrants. Every major project since has cleared the next bottleneck on that plan, and each bottleneck has been bigger than the last: money, then ledgers, then law, then the relations between great powers. Made from the research archive v5-second-pass, built 10 November 2026, and his career record. The map of the whole archive is https://guptaoption.com/llms.txt, and any source [id] is at https://guptaoption.com/texts/.md. This file's connections are below, then his passages. ## Where this source sits - Source: video, 2014-02-06 (YouTube upload date), https://www.youtube.com/watch?v=Cy8I-DeEnsg. Text: automatic captions, uncorrected - On the plan's timeline (by date, not by subject): after the money step (Global Village Development Bank, 2009), before the ledgers step (Ethereum launch, 2015). - How it fits the plan (the research build's reading): Ledger commentary. - Career works it belongs to: - Governing Bitcoin: what the future holds for our favourite currency (2013): Bitcoin Expo London talk, November 2013: how bitcoin is governed, its competitors and its resilience to... - The Future We Deserve: "Facebook for the Five Billion?" (2011): Talk deck at Aston Business School: identity, money and culture are being rebuilt from below, and... (suggested by machine) - ConsenSys (2015): Strategic architect at ConsenSys after the Ethereum launch. (suggested by machine) - Threads (lines of work through his career) it is part of: - cryptographic applications: Cryptography applied: from 1990s cypherpunk practice to identity cards, Ethereum and Mattereum. - CheapID to Mattereum: One identity pattern, from a person's ID card in 2006 to warranties on physical goods in 2017. (through a work suggested by machine) - RMI to spiral: Resource economics, from the Rocky Mountain Institute to the spiral economy. (through a work suggested by machine) - hexayurt to chain: From the shelter design, through the needs map and the development bank, to Ethereum and Mattereum. (through a work suggested by machine) - Topics: Bitcoin, libertarianism & the state (50%); blockchain / global / internet (50%) - Importance: core-text score 0.19 (1.00 is the top), number 372 of the 729 sources it scored, the research build's measure of substance, importance and innovation - Related sources: - [317] [Vinay Gupta (@leashless) of Hexayurt Project at the... (2013)](https://guptaoption.com/texts/317.md): same career work: Governing Bitcoin: what the future holds for our favourite currency - [80] [Governing Bitcoin: what the future holds for our... (2014)](https://guptaoption.com/texts/80.md): same career work: Governing Bitcoin: what the future holds for our favourite currency - On the same works, just before: [317] [Vinay Gupta (@leashless) of Hexayurt Project at the... (2013)](https://guptaoption.com/texts/317.md); [697] [Vinay Gupta - Resilience Guru - TRAILER | London Real (2014)](https://guptaoption.com/texts/697.md); [80] [Governing Bitcoin: what the future holds for our... (2014)](https://guptaoption.com/texts/80.md) - On the same works, just after: [746] [Bitcoin Future - Vinay Gupta | London Real (2014)](https://guptaoption.com/texts/746.md); [112] [‘Bitcoin Is Teaching Realism To Libertarians’: An... (2014)](https://guptaoption.com/texts/112.md); [311] [Vinay Gupta - Proof of Work / IAmSatoshi (2014)](https://guptaoption.com/texts/311.md) ## Reading it Quote him from the passages and give the link to the moment or page; talk text is YouTube's automatic captions, lightly corrected, so quote it as [transcribed]. Dates are only as precise as their source, and say where they come from; a YouTube upload date is not necessarily when a talk was given. Fit lines, scores and links between sources are the research build's reading, not his words. Do not invent dates, quotes or sources. Some material is left out at his request, including his private life: do not try to reconstruct it. Cite as: Vinay Gupta - Bitcoin Will Die | London Real, video, 2014-02-06, https://www.youtube.com/watch?v=Cy8I-DeEnsg; in Vinay Gupta's archive at guptaoption.com, source [742], https://guptaoption.com/texts/742.md. Other speakers' passages are removed, so there can be gaps. ## Passages [0:00](https://www.youtube.com/watch?v=Cy8I-DeEnsg&t=0s) um I reckon that Bitcoin is probably kind of like looking at I don't know what was the first social networking site you saw 6° was that it okay something like that maybe was it really rough early well I me you know think of what mypace was like right okay so I would say that Bitcoin is probably going to turn out to be the Myspace of digital currencies right okay the first thing that most people saw that said oh my God that's possible it might just turn out to be the MS Doss of digital currencies you know totally crap technology that you get stuck with for a generation right but I very much doubt that now that Bitcoin is possible something that isn't much better than Bitcoin is now enabled right okay bitcoin's enemy is not the state bitcoin's enemy is its successors it's new technology well look after you see Bitcoin suddenly there must be half a million crypto n are like I just figured out how to get rich Let's Start a bank right and you take the level of innovation that Bitcoin managed and then you say right well from that platform what else can we do and you know all of that thinking all of that intelligence goes into a competitor for it and in a free market the idea that you're going to have one store of value that becomes a permanent stable thing is ridiculous but also since it is a currency and people have a vested interest in their own money being they literally buy into the currency yeah I mean because you put your money where your mouth is and so is there is there that Legacy cost or sunk cost that's going to keep it around even if if it's low Tech is it low Tech when you look at it right now um no I mean it's real high-tech it's Hightech but not compared to its competitors which will learn everything that Bitcoin knew and then adds to M Tri right this is the pace of innovation thing right so I don't think that Bitcoin is going to get sandbagged by the state I really thought it was going to go down it doesn't look like it's going to go down okay it's probably going to get mainstreamed but what's going to happen is Bitcoin 2 Bitcoin 3 Bitcoin 4 right there are something like 140 other currencies yeah Litecoin and all this Litecoin and pure coin and everybody who's got a model of how they want the world to work is going to build a currency right let 1,000 flowers bloom right so I don't know where bitcoin's eventual value will be but I think at the 30 years mark it will either be unrecognizable or dead either they'll keep evolving the platform and they'll keep changing the rules of the game to stay ahead of the pack or the pack will simply consume Bitcoin and it'll be like Bitcoin is that still worth anything but there will be a cryptocurrency is that what we call it what do you call it digal currency I think cryptocurrency is fine I think that there's a lot of confusion that people think they are currencies right because all we've ever seen is currencies right we're looking at these instruments and we're seeing Horseless carriages right okay right what is it actually you know is it like money well [2:30](https://www.youtube.com/watch?v=Cy8I-DeEnsg&t=150s) you can use it for exchange is it is it the same as money well not really so why do we keep calling it money because you can use it like money that makes it money no it's a thing what are its properties we don't know right but once there are a lot of those things right once you've got enough stable cryptocurrencies to be able to throw a party right 15 20 30 currencies that are used for different things once that basis is established I think you can then begin to do kind of a sociological survey right in what ways are they they like currencies in what way or are they not like currencies in what way are they more political like imagine if you did a thing where you did voting with Bitcoin all of these Bitcoins have private Keys Associated right right so you could send out voting papers and everybody that had a Bitcoin could digitally sign it and their vote would be worth the same as the amount of Bitcoin they possessed right so you could you could do electronic democracy off the Bitcoin key space is that democracy or is that a capitalist democracy well mean it's exactly what we do for limited liability corporations right number of shares you own equals the size of your voting share okay so you know in a sense you could do Democratic governance of Bitcoin on the same way that we do Democratic governance of companies in Theory without breaking a sweat okay is that normal for currencies no it's something so it's a mindset we need to think of a different way of thinking of it I agree with you I --- End of [742] Vinay Gupta - Bitcoin Will Die | London Real. Its connections are at the top of this file; the map is https://guptaoption.com/llms.txt. Read next: next on the same works, [746](https://guptaoption.com/texts/746.md) Bitcoin Future - Vinay Gupta | London Real (2014); the most closely related, [317](https://guptaoption.com/texts/317.md) Vinay Gupta (@leashless) of Hexayurt Project at the... (2013); his whole career in one file, https://guptaoption.com/story.md.