A Quote by Max Keiser
Bitcoin is a peer-to-peer, decentralized form of money, as durable as the Internet itself. Remember, the Internet - or DARPA, as it was originally called - was created as a fail-safe, global network with no 'single point of failure.' If one part goes down, data takes another route, and nothing is lost.
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For the first time, entrepreneurs can monetize their own open-source and peer-to-peer network. They can crowdfund and raise money from people across the world on the Internet in crypto-currency.
In effect, the Internet is a global connection of interconnected computers. It has been described as truly a peer-to-peer system with many distributed nodes and no central point of control architecture.
Bitcoin has been described as a decentralized, peer-to-peer virtual currency that is used like money - it can be exchanged for traditional currencies such as the U.S. dollar or used to purchase goods or services, usually online. Unlike traditional currencies, Bitcoin operates without central authority or banks and is not backed by any government.
For the first time in 6,000 years of human history, we can have peer-to-peer exchange where trust is not a problem anymore. And it's through the technology that underlies bitcoin. It's called the block chain.
The Internet's proven to be a pretty big deal for global society, and Bitcoin could basically be thought of as the Internet, applied to money.
CloudShield did not see itself as a cloak-and-dagger company. It made its name for high-end hardware that could peer deeply into Internet traffic and pull out and analyze 'packets' of data as they flew by.
Most Internet business theorists are really looking at preserving the necks of giant, Fortune 500 companies, rather than promoting the digital, peer-to-peer economy that actually wants to happen.
t century, hundreds of millions - and eventually billions - of human beings will transform their buildings into power plants to harvest renewable energies on site, store those energies in the form of hydrogen and share electricity, peer-to-peer, across local, regional, national and continental inter-grids that act much like the Internet.
The idea of the Internet as sort of open and democratic and free and with no hierarchy, the libertarian beginnings as it were, with peer-to-peer networks... I'd sort of like for everyone to just admit that we're beyond that now.
Throughout the history of the Internet, most of the innovation has come as a by-product of efforts to facilitate communication within social groups of various kinds (academics, bloggers, peer-to-peer file sharing), rather than as the result of profit-oriented investment. Rather than taking the lead, the business and government sectors have adopted innovations developed in Internet communities, and realised significant productivity gains as a result.
When decentralized blockchain protocols start displacing the centralized web services that dominate the current Internet, we'll start to see real internet-based sovereignty. The future Internet will be decentralized.
But it is as silly to think about peer-to-peer as applying just to music as it would have been to think about the Internet as applying just to pornography. Whatever the initial use of the technology, it has nothing to do with the potential of the architecture to serve many other extremely important functions.
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 emergence of open Internet protocols for value exchange, today led by the global adoption of Bitcoin's blockchain, paves the way for value to move as freely as information and data move on the Internet today.
In an economy increasingly dominated by network effects, peer-to-peer transactions, self-regulation, and contract labor, the old frameworks are woefully irrelevant.
What, exactly, is the internet? Basically it is a global network exchanging digitized data in such a way that any computer, anywhere, that is equipped with a device called a 'modem', can make a noise like a duck choking on a kazoo
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