A Quote by Andreas Antonopoulos
Bitcoin is a currency, bitcoin is a network, bitcoin is a technology and you can't separate these things. A consensus network that bases its value on the currency does not work without the currency.
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Bitcoin is valuable as a currency because of the economic efficiencies the bitcoin network is already creating as transactions flow over it. As with the Internet, more applications will flourish which will make the bitcoin network, and thus bitcoin as a currency, valuable.
You just can't bifurcate bitcoin currency from the technology. Bitcoin will always need a monetary base.
Well, bitcoin is a currency. Bitcoin has no underlying rate of return. You know, bonds have an interest coupon. Stocks have earnings and dividends. Gold has nothing, and bitcoin has nothing. There is nothing to support the bitcoin except the hope that you will sell it to somebody for more than you paid for it.
It's completely reasonable, even if some Bitcoin currency purists wouldn't like it, to have credit and debit card payments denominated in Bitcoin rather than dollars, and net settled on Bitcoin instead of on Fedwire.
Bitcoin is two things which share a name. One, it's a payment system, and two, it's a currency. You use the Bitcoin payment system to send bitcoins as currency from one account holder to another. The transfer is instantaneous, carries no fee, works anywhere in the world, and is private.
What bitcoin does better than the current financial system is it's a better stored value globally. There are a lot of countries that really don't trust their banks or their currency, and bitcoin is an alternative.
We are very excited about the use of blockchain, whether it's Bitcoin or not, but we are as enthusiastic as ever about Bitcoin as a global currency and, really more importantly, Bitcoin as a global financial rail.
Blockchain assets derive value from their usefulness. Bitcoin has value because people value the payment network. BTC is required to use the network, so people demand it. If Bitcoin continues to be useful, it will continue to have value.
This Bitcoin currency is a voluntary decentralized currency, anonymous. It can't be shut down by anyone; there are no central servers.
I don't think BitCoin has ever been anything but a legitimate enterprise. Currency is currency, it's used for good and ill.
Make no mistake - Ethereum would never have existed without Bitcoin as a forerunner. That said, I think Ethereum is ahead of Bitcoin in many ways and represents the bleeding edge of digital currency.
Bitcoin is not a currency for a government; it is a global currency for the people.
Digital currency is now a misnomer for Bitcoin. It can be used as currency, but it can be used for many things.
I think that the future of currency is digital, and Bitcoin has a good shot at being the currency of the future.
When you take a look at how the IRS treats foreign currency, bitcoin doesn't have the same taxation regime. Foreign currency gains and losses generally are taxed as ordinary income.
Bitcoin is mostly about anonymous transactions, and I don't think over time that's a good way to go. I'm a huge believe in digital currency... but doing it on an anonymous basis I think that leads to some abuses, so I'm not involved in Bitcoin.
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