BTC

Bitcoin

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Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator.
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122 user opinion

122 results - showing 106 - 120
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BH
Intuit and PayPal Source
Bitcoin is a scam. In my opinion, it’s a colossal pump-and-dump scheme, the likes of which the world has never seen ... Cryptocurrency is best-suited for one use: Criminal activity. Because transactions can be anonymous — law enforcement cannot easily trace who buys and sells — its use is dominated by illegal endeavors.
BF
Source
Communication volumes associated with processing transactions “could bring the internet to a halt ... The quest for decentralized trust has quickly become an environmental disaster” because of the electricity requirements, and “a cryptocurrency can simply stop functioning, resulting in a complete loss of value.”
JM
Alibaba Group Holding, Founder and Chairman Source
Blockchain technology could change our world more than people imagine,” Ma told reporters. “Bitcoin, however, could be a bubble.
RS
Nobel prize-winning professor of economics, Yale University Source
I think of Bitcoin as a remarkable social phenomenon,” he said in a Bloomberg Television interview. “It’s an epidemic of enthusiasm ... it is a speculative bubble. That doesn’t mean that it will go to zero. Speculative bubbles recur. We had a bubble in Bitcoin in 2013, and it looked like it was done -- it fell from 1,000 to 200 -- but now look, it comes back.
CI
Trains financial professionals Source
Will add topics on cryptocurrencies and blockchain to its Level I and II curriculums in 2019. “We saw the field advancing more quickly than other fields, and we also saw it as more durable,” said Stephen Horan, managing director for general education and curriculum. “This is not a passing fad.”
KG
CEO and Founder Citadel LLC Source
Griffin has “a hard time” being a liquidity provider in a product he doesn’t believe in. “I don’t have a single portfolio manager who has told me we should buy crypto,” he said at a conference. “What’s unfortunate is the amount of hype and the number of early investors who’ve been caught up in this hype.”
NR
Roubini Global Economics Chairman, Chief Economist and Co-Founder Source
Most Bitcoin/shitcoin investors are retail suckers who are clueless/financially illiterate. That’s why we have laws that leave risky investments only for accredited investors who have a certain level of income/wealth. But millions of BagHolders were illegally suckered into crap.
MN
Founder at Galaxy Digital Holdings Source
I do believe Bitcoin is going to be digital gold. That means it’s the only one of the coins out there that gets to be a legal pyramid scheme. Just like gold is. ... We have a business that we think can break even next year, if not make money. We’re not nervous; we’re frustrated that our investors have lost money. We’ve got plenty of cash to run the business for a long time.
DS
Co-Founder of Craft Ventures Source
After PayPal I never thought I would get interested in payments again. But bitcoin is fulfilling PayPal’s original vision to create “the new world currency.” We actually had T-shirts printed in 1999 with that mission statement.

A payment is just a credit to one account and a debit to another. That’s a database entry. We believed that, if we could get enough people to participate, money would never need to leave the system. PayPal could become the database of money.

We added features like interest and debit cards so you’d never have to withdraw funds to the legacy banking system. When we got acquired by eBay, that project kind of stopped.

But cryptocurrencies like bitcoin are now fulfilling that original vision. They are doing it in a decentralized way (with a decentralized database called the blockchain) whereas PayPal tried to do it in a centralized way.
PB
Founder and CEO of Factor Trading Co. Source
While I am super constructive $BTC long term, it is an asset that has not yet proven its worth as anything but a speculative vehicle. Cannot be considered a store of value -- it is NOT a currency unit
JL
Cypherpunk · CTO @CasaHODL Source
When humans change the way we think about the world we are able to invent more powerful types of organizations. Bitcoin is a breakthrough in self organization - now the rest of the world just needs to update its mental models to take advantage of it.
ES
Former NSA contactor - President at @FreedomofPress Source
I like Bitcoin transactions in that they are impartial. They can’t really be stopped or reversed, without the explicit, voluntary participation by the people involved. Let’s say Bank of America doesn’t want to process a payment for someone like me. In the old financial system, they’ve got an enormous amount of clout, as do their peers, and can make that happen. If a teenager in Venezuela wants to get paid in a hard currency for a web development gig they did for someone in Paris, something prohibited by local currency controls, cryptocurrencies can make it possible. Bitcoin may not yet really be private money, but it is the first “free” money.
SA
Author of The Bitcoin Standard Source
Bitcoin isn't "cool" or "awesome" new tech. It's an ugly contraption optimized to be neutral apolitical money, not for your user experience. It's not the toy you want, it's the medicine you need.
Like it or not, it's your best chance for living in a free market with sound money.
SB
Partner at Blockchain Capital Source
Sources of BTC demand in years ahead:
1) Generational shift (teenagers want crypto more than cash & gift cards)
2) Central banks & institutions (demand for non-sovereign digital asset w/ absolute scarcity)
3) Programmable money (the opportunities of natively digital money = HUGE)
AL
CEO of Interstellar Source
Satoshi said Bitcoin was for “commerce on the internet” (the first four words of the Bitcoin whitepaper). Turns out she was right. But not in the way most people think – and probably not even in the way she imagined.

A naive interpretation of “commerce on the internet” is to imagine traditional e-commerce merchants accepting Bitcoin as a method of payment. That hasn’t happened for a bunch of reasons and still may not. Time will tell.

Another interpretation is that Bitcoin was designed for commerce on the dark web. While that use case happens, Bitcoin isn’t actually well-suited to it due to its transparency. And dark web commerce is now dwarfed by another type of commerce that's become the dominant use case.

And no, I’m not talking about Bitcoin as a “store of value.” There’s nothing wrong with thinking of Bitcoin as digital gold or investing/HODL’ing/trading it, but that’s not what “commerce” means (at least not to me).

So what *are* people buying with Bitcoin that dwarfs its use in traditional e-commerce and on the dark web? Remarkably, the answer is something that DIDN’T EVEN EXIST when the Bitcoin paper was published and ONLY EXISTS NOW *because* it was published.

The answer is that, so far, the primary “commerce” use case emerging for Bitcoin is to buy *other digital assets* (re-read prior tweet to see why this is kind of mind blowing).

In just the last couple years, billions of dollars in purchases of digital assets have been made with Bitcoin (and Ether).

So either Satoshi is/was playing n-dimensional chess and knew Bitcoin would become the settlement currency for an ecosystem of digital assets that Bitcoin itself would catalyze through its example.....or, more likely, Bitcoin and the broader cryptocurrency ecosystem has giving rise to an emergent “commerce” use case that no one, including Satoshi, could have predicted.

Yet this is exactly what any student of technology SHOULD have expected (hindsight is 20/20!). New mediums rarely succeed by transforming the old. They give rise to the new.

This notion of emergence has been talked about by people like @cdixon @fredwilson @naval @cburniske and others (hat tips to them!) But it’s no longer just about future potential, we can already see a full cycle where an emergent phenomenon has begun to fulfill Satoshi's vision.

Ultimately, the implication for everyone in the crypto/blockchain space is to continue to look ahead to (and create) *new forms of value* that are possible now that the internet has an open, bourgeoning economic infrastructure.
122 results - showing 106 - 120
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