By lowering the barrier to create new digital currency applications, we'll see an explosion in the number of ideas tried. We'll invest in, partner with, or build a number of new applications in this space, including replacements for many of the services people use in finance 1.0.

At Coinbase, our mission is to create an open financial system for the world. We believe that open protocols for money will create more innovation, economic freedom, and equality of opportunity in the world, just like the Internet did for publishing information.

I think it's going to end up a lot like the Internet. Some countries try to regulate the Internet - bitcoin will be very much like that. It will be legal, and there will be some countries with currency control.

It's really hard to argue that bitcoin doesn't have many legitimate benefits to companies that are legal businesses when you have Dell and Expedia and all these companies now accepting it.