A Quote by Patrick M. Byrne
There are regulators at the SEC and elsewhere who are really excited about the potential of the blockchain. They understand you can build a robust financial system - it would solve all your black swan problems. All kinds of mischief and games that are played in the current system become impossible in this system.
Quote Topics
Quote Author
Related Quotes
The Libor system is structurally flawed. It is a major problem for our financial system and for the confidence in the financial system. We need to address it.
I say we scrap the current system and replace it with a system wherein you add your name to the bottom of a list, and then you send some money to the person at the top of the list, and then you... Oh, wait, that is our current system.
For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.
No matter how the financial system is set up, no matter what the economic system is, as long as you have people, you're going to have financial crises; you're going to have bubbles that manifest themselves in the financial system.
To have two separate game plans, you're asking for way too much of your team. That's why it's important to have quarterbacks that know your system, understand your system and have been a part of your system.
The current financial crisis makes it very clears that the system that we have isn't really working, and this is the right time for us to undo things and build them in a new way.
The system itself has the mark of cleverness and ingenuity.... When you manipulate the menu system, you feel as though you are at the helm of the future.... The Xbox probably has the most raw potential for excellent games
Our mission is to accelerate the development of a better financial system; it's not just development of a better Bitcoin financial system, and so we want to back the best teams, who have the biggest ideas, unique solutions to big problems.
People involved in a revolution don't become part of the system; they destroy the system... The Negro revolution is no revolution because it condemns the system and then asks the system it has condemned to accept them.
The global financial crisis is a great opportunity to showcase and propagate both causal and moral institutional analysis. The crisis shows major flaws in the way the US financial system is regulated and, more importantly, in our political system, which is essentially a bazaar of legalized bribery where financial institutions can buy themselves the governmental regulations they want, along with the regulators who routinely receive lucrative jobs in the industry whose oversight had formerly been their responsibility, the so-called revolving-door practice.
They [political leaders ] thought the only problem was the banking system, and if they fixed the banking system, all would be fine. But the banking system and the mortgage problem were symptomatic of some deeper problems, and evidently they still haven't recognized those deeper problems.
You pay your dues and work your way up through the system, whatever system there is - something guys in the business today don't really understand, don't have a clue.
The Soviet system is how everything here works. It's very difficult to break the system. The system is big and inflexible, uneffective, and also corrupt. And that is our main goal: to change the system, to break the system, to make it modern.
In theory, cars are fairly simple. If they don't start, it's either the fuel system or the electrical system. Teach yourself about the path of each in your engine and tracing it is fairly straightforward. But at the beginning, mastering each new system seems like an unreachable shore. The car is effectively a black box.
People expect those in authority to take on big problems and to solve them. We had an opportunity to reform Social Security in a way that would have protected people's benefits and created a solvent system. Younger workers would be confident that the money they were putting into the system would be available to them when they retired. It was a missed opportunity. I regret that.
Perfect replication is the enemy of any robust system... Lacking a central nervous system much less a brain the parasite is a simple system designed to compromise a very specific target host. The more uniform the host, the more effective the infestation.
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