A Quote by Brian Armstrong
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.
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Experience has shown us that attempts to control the Internet will invariably fail. We should be instructed by the failed efforts of China to regulate political content, the efforts of America to regulate Internet gambling, or the efforts of Australia to regulate certain speech. By its very nature, the Internet will always resist such controls.
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.
Who ever knows what will happen with the economy, and will it affect the Internet? There's so much pouring into the Internet; I would doubt it, but I'm not the greatest predictor. But more than any media sector, I think the Internet will hold up.
When the Internet first launched, you had all these newspapers saying that the Internet was only used by bad people, to do bad things and what was the point of it. But the Internet changed everything, just like Bitcoin will.
Countries that have the Internet already are not going to turn it off. And so the power of freedom, the power of ideas will spread, and it will change those societies in very dramatic ways.
I think long-term, Bitcoin is a currency of the Internet. So, even if humans don't use it, routers will use it. Web browsers will use it. Web servers will use it.
I do think some digital currency will end up being the reserve currency of the world. I see a path where that's going to happen.
When we travel to other countries, the Internet speed is so much slower. So I think in terms of technology, 5G and Internet speed, Korea has an absolute advantage over other countries.
My stuff gets published in some countries as fiction and in some countries as fantasy. It's just where they think it will do best in the bookshops.
I think that the Internet is our most profound and beautiful achievement. It is magnificent. We have the Internet as a layer of our thinking that doesn't control us, we control it, yet we don't have to be aware of it. It will be like a suit that really fits well.
My guess is the big Chinese banks will be in 100?countries by then. They will have very sophisticated operations, and they may very well have bought banks around the world in countries that allow it. I mean, I don't think the American government would allow them to buy JPMorgan. But they will be able to buy a sizable big bank in the U.S. at some point. Whether they do or not, or if it's allowed or not, I don't know.
We, Will Ferrell and I, were approached by Sequoia, which is a big financing firm up in Palo Alto; they do a lot of Internet stuff, and they came to us and said they had an idea for a comedy site, and Will and I were sorta like, 'Yeah, we don't know. It's the Internet, we've seen it come and go.'
I think that the Internet is going to effect the most profound change on the entertainment industries combined. And we're all gonna be tuning into the most popular Internet show in the world, which will be coming from some place in Des Moines. We're all gonna lose our jobs. We're all gonna be on the Internet trying to find an audience.
You'll be using digital currency. I think really what will happen is you'll use a combination of bitcoin, ether, your devices, the 'Internet of Things.' We've got billions of devices coming online.
I think this is really a defining moment for the Arab world. The problem is, it is all going to be about blood, sweat and tears. In certain countries it may be just sweat, and in some countries sweat and tears, and in some countries, as you can see, a lot of blood. I think initial instability is something that we are all extremely nervous of.
I think the Internet is a key driver of opening up opportunities, which impacts many things, including development - I will repeat that I am not a fan of looking at technology or the Internet in Africa through the lens of development - we love the Internet for sake of the Internet.
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