the name and now we have bitcoin so the only thing we don't have is the majority of the austrian economic school adopting or accepting bitcoin for what it is and we are but they will they will fall like dominoes one by one they will all come over to the side of the debate a citi group also this past week while the world's media was paying attention to the china story citi group also said. that reserve managers may be starting to look at bitcoin as well and that it would be better actually than the s.t.r. for example you know jim rickards theory that will fold over all of global debt into an s.t.r. well this could be better he said because it's no individual currency is just of the representative nation states is a separate currency on its own like the s.t.r. was originally designed to be a trade currency well he said this citigroup analyst said that it wouldn't be something that reserve managers would move into first but their incentive is not to be the last and if they start looking at bitcoin then it would be put the u.s. dollar in jeopardy you know right it does it will it will kill the u.s.

>> from an austrian economic school viewpoint you already have inflation.nflation meaas when the supply of money is massively increased now the velocity is subjectively determined, it hasn't started to circulate. melissa: right. >> they have no control over that. so even if they quit, let's say conditions are such think could quit the quantitative easing, there is still so much out there they can't predict what would happen. so the price inflation which is secondary consequence of monetary inflation is yet to come. no, i think there, we're in for big trouble because even if they give a token little cutback on quantitative easing it will panic markets. if you get somebody like yellen in office and they're trying to do that, she is bolder than the rest of them have ever been. so she will not hesitate. that is the only tool left for stability in the economy and economic growth is you print more money and print more money along with government spending more money. there is a limit to that and that is what i've been saying and i'm sure they can not solve our pro

i'm austrian school guy, austrian economics, we ultimately like gold. 5,000 years it is growing 2% a year and government mandarins can't create new gold. it is mathally limited rather than physically limited. limited to 21 million units. as the u.s. continues to debase our currency, this will be a more and more viable alternative. melissa: there was a lot in there i have to ask you about. let me start with the practicality of your website accepting bitcoin. how are you going to do it? will you trade it out because it is so volatile, the practicality of it? do you accept payment in bitcoin and convert it right away to dollars or how will you manage it? >> great question. there are two approaches. if by the time we're accepting this which we expect in a few months there may be a derivatives market which hedges one's risk from bitcoin back to dollars just like one can do with any other currency, euro or yen to dollars. if that is not available by the time we go live wit, we'll rolling out bitcoin every night, converting into dollars. so there is no fluctua