A Quote by John C. Bogle
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.
Related Quotes
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.
The bitcoin protocol is about mining bitcoin, not pricing bitcoin. There is nothing in the protocol about establishing a market price for bitcoin; you need a market for that, but what if all the exchange markets are shut down?
Isn't the purpose of bitcoin mining simply to get rich - or not, as the case may be? Well, at 21, we are less concerned with bitcoin as a financial instrument and more interested in bitcoin as a protocol - and particularly in the industrial uses of bitcoin enabled by embedded mining.
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 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.
Because the supply of Bitcoin is limited, the price of Bitcoin is going to have to increase and increase very substantially over time. My advice is that if you're interested in Bitcoin and excited by Bitcoin, then buy some Bitcoin and hold onto them, and you're likely to do very well over time.
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.
I think the technology will get bigger and the price of Bitcoin will go up, so I'm speculating to increase my purchasing power. But I don't intend to sell the Bitcoin. I intend to hold it until there's a day where I can just use Bitcoin completely.
Bitcoin was created with security in mind. The Blockchain is Bitcoin's public ledger that records every transaction in the Bitcoin economy.
You just can't bifurcate bitcoin currency from the technology. Bitcoin will always need a monetary base.
The scripting language in Bitcoin is important because it is what makes Bitcoin 'programmable money'. Within each Bitcoin transaction is the ability to write a little program.
There is no more reason to believe that Bitcoin will stand the test of time than that governments will protect the value of government-created money, although Bitcoin is newer, and we always look at babies with hope.
The ability to easily buy and sell Bitcoin has been a really key factor in accelerating Bitcoin adoption.
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.
Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin; they value it because they believe that they can exchange it for something else.
Bitcoin as a globally distributed public ledger - that's the thing I'm most excited about going forward. Thinking about how to use Bitcoin in new and innovative ways. In the meantime, we have the boring uses of Bitcoin that are in the process of going mainstream.
Related Authors
Bill Gates Quotes
American
Businessman
Charlie Munger Quotes
American
Businessman
Dieter F. Uchtdorf Quotes
German
Businessman
Henry Ford Quotes
American
Businessman
Jim Rohn Quotes
American
Businessman
Joseph B. Wirthlin Quotes
American
Businessman
Mark Cuban Quotes
American
Businessman
Mark Zuckerberg Quotes
American
Businessman
Peter Drucker Quotes
American
Businessman
Richard Branson Quotes
British
Businessman
Russell Simmons Quotes
American
Businessman
Sam Altman Quotes
American
Businessman
Steve Jobs Quotes
American
Businessman
Tom Peters Quotes
American
Businessman
Walt Disney Quotes
American
Businessman
Warren Buffett Quotes
American
Businessman