A Quote by Nassim Nicholas Taleb
Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative.
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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.
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.
Bitcoin is not a currency for a government; it is a global currency for the people.
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.
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.
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.
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.
Virtual currency, where it's called a bitcoin vs. a U.S. dollar, that's going to be stopped. No government will ever support a virtual currency that goes around borders and doesn't have the same controls. It's not going to happen.
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.
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.
You just can't bifurcate bitcoin currency from the technology. Bitcoin will always need a monetary base.
Many countries are looking at the virtual currency and the digital currency. Now, the issue is a virtual currency by the government, digital currency by the government that is one area to look but on the other hand, there are private cryptocurrencies as well.
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.
No duty is more imperative for the government than the duty it ;owes the people to furnish them with a sound and uniform currency, an of regulating the circulation of the medium of exchange so that labor will be protected from a vicious currency [private bank-created, interest-bearing debt], and commerce will be facilitated by cheap and safe exchanges.
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.
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