A Quote by Patrick M. Byrne
The main event isn't bitcoin. It's using the blockchain to disrupt other industries and Wall Street.
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Over the next decade, there will be disruption as significant as the Internet was for publishing, where blockchain is going to disrupt dozens of industries, one being capital markets and Wall Street.
I've been in a room in Silicon Valley where on the wall they have 160 industries they think blockchain can disrupt. We picked six of them to focus on.
Wall Street shouldn't be deregulated. I think Wall Street and Main Street need to play by the same set of rules. The middle-class can't carry the burden any longer, that is what happened in the last decade. They had to bail out Wall Street.
I've never been on Wall Street. And I care about Wall Street for one reason and one reason only because what happens on Wall Street matters to Main Street.
Bitcoin was created with security in mind. The Blockchain is Bitcoin's public ledger that records every transaction in the Bitcoin economy.
Everyone, it's okay to say the word 'bitcoin' and acknowledge that it is the actual platform that is driving this innovation that we're all building on. It's also okay to say 'the bitcoin blockchain,' or 'the blockchain,' if you're afraid that people will think you're weird.
I heard governor Romney here called me an economic lightweight because I wasn't a Wall Street financier like he was. Do you really believe this country wants to elect a Wall Street financier as the president of the United States? Do you think that's the experience that we need? Someone who's going to take and look after as he did his friends on Wall Street and bail them out at the expense of Main Street America.
A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.
The blockchain concept was pioneered within the context of crypto-currency Bitcoin, but engineers have imagined many other ways for distributed ledger technology to streamline the world. Stock exchanges and big banks, for example, are looking at blockchain-type systems as trading settlement platforms.
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'm not wed to bitcoin's blockchain. I'm blockchain-agnostic.
It is easier to disrupt consumer finance. It is much harder to disrupt institutional finance, Wall Street. It is very heavily regulated, and because it is institutional finance, you are dealing with incumbents.
It appears that Wall Street is not acting as a force for economic expansion, providing access to capital for companies that make things. Rather, it seems, Wall Street is using government bailouts to lever up.
People who are tired of K Street corruption and Wall Street greed are ready for Main Street Values.
Once again, the puppets on Capitol Hill are about to slam the Muppets on Main Street. The country still hasn't recovered from the Wall Street-induced financial cataclysm of 2008, yet Congress is preparing to enact the Orwellian 'JOBS Act' - a bill that should in fact be called the 'Return Fraud to Wall Street in One Easy Step Act.'
The exciting thing about the current emergence of bitcoin 2.0 applications is that you don't have to know anything about bitcoin or how the blockchain works to get a lot of utility and value out of the technology.
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