A Quote by Paul Ford
Bitcoin isn't tied to any commodity - besides trust.
Related Quotes
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.
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.
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.
I trust bitcoin more than I trust my bank.
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.
Bitcoin was created with security in mind. The Blockchain is Bitcoin's public ledger that records every transaction in the Bitcoin economy.
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.
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?
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 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.
Trust is an amazing commodity. The Afghan people often talk to me about having to develop trust in America, because they believe that we deserted them in 1990 and 1991.
I don't think it's any sort of stretch of the imagination to say that, very, very realistically, each single bitcoin, if bitcoin becomes popular, will have to be worth at least tens of thousands of dollars.
Either we trust in God, and in that case we neither trust in ourselves, nor in our fellow-men, nor in circumstances, nor in anything besides; or we do trust in one or more of these, and in that case do not trust in God.
Relationships survive on trust, and if that is broken at any point, it's pretty much the end of the relationship. Besides, inability to communicate leads to problems.
Just as the web democratized publishing and development, Bitcoin can democratize building new financial services. Contracts can be entered into, verified, and enforced completely electronically, using any third-party that you care to trust, or by the code itself.
I force people to have coffee with me, just because I don't trust that a friendship can be maintained without any other senses besides a computer or cellphone screen.
Related Authors
Arnold Schwarzenegger Quotes
Austrian
Actor
Benedict Cumberbatch Quotes
English
Actor
Bruce Lee Quotes
American
Actor
Clint Eastwood Quotes
American
Actor
Daniel Radcliffe Quotes
British
Actor
Dwayne Johnson Quotes
American
Actor
Jeff Bridges Quotes
American
Actor
Johnny Depp Quotes
American
Actor
Kevin Hart Quotes
American
Actor
Kevin Spacey Quotes
American
Actor
Leonardo DiCaprio Quotes
American
Actor
Rob Lowe Quotes
American
Actor
Robert Pattinson Quotes
English
Actor
Sylvester Stallone Quotes
American
Actor
Will Rogers Quotes
American
Actor
Zach Braff Quotes
American
Actor