People have to start realizing that money is just a fiction, an idea.

Valuation is what people are willing to pay.

People say it's a Ponzi scheme, it's a bubble. People really don't want to take it seriously. At some point, that narrative will shift to 'virtual currencies are here to stay.'

For better or worse, a lot of people who build things don't want to part ways. They don't have the short exit plan that a lot of the investors have.

I do think that people have moments of realisation in real life - even if it's on their death beds - when they suddenly think, 'Jesus - what did I do?'

A lot of people don't want to deal with the effort needed to secure your bitcoins. That's why we started to build Gemini, which is a U.S.-based exchange with compliance - it's NASDAQ, E-Trade and DTC built into one.