A Quote by Roger Ver
PayPal came within an inch of being shut down by regulators when they started. The feds seizing the Dwolla account and stealing the money that is owned by Mt. Gox customers is more proof that Bitcoin is the superior payment system.
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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.
If there is one positive takeaway from the collapse of Mt.Gox, it is the willingness of a new generation of Bitcoin companies to work together to ensure the future of Bitcoin and the security of customer funds.
From an architecture perspective, Mt. Gox is not an isolated incident. We've had exchanges continually hacked after Mt. Gox. This has been an ongoing problem that has continued to plague our industry.
Mt. Gox was a teachable moment for everyone in the Bitcoin community, and ShapeShift has innovated these problems out of the picture.
Anybody who has enough information about what's going on in the bitcoin world, you would not buy your bitcoins on Mt. Gox.
Most people heard about Bitcoin for the first time in the context of the Mt. Gox collapse. It is our Lehman Brothers.
Money you know you need or want to spend in the next few years is savings. Money you keep handy for an emergency belongs in savings. Money you hope to use soon for a down payment on a house belongs in savings. And all savings belong in a low-risk bank savings account or money market account.
It's clear to me now that Ethereum is the new currency of the Internet. It's way ahead of where Paypal was in its day, and it's much more exciting to its customers than Paypal ever was.
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?
After PayPal, I never thought I would get interested in payments again. But bitcoin is fulfilling PayPal's original vision to create 'the new world currency.'
I consider the guys at Mt. Gox my friends.
The main idea with Brave is that you don't have to think about Bitcoin; you just have this frictionless payment system.
Generally, there are three rules when it comes to borrowing money: You need to have good credit, proof of income and cash for a down payment. Most people have the first two, but it's the third that trips them up. And nowhere does that come into play more than the mortgage market.
What happened at Mt. Gox is not an isolated incident. This is a plague that continues to play like a bad broken record. As long as this continues to happen, how are we ever going to instill confidence in this industry? How are we better than the old financial system?
I was just a kid selling monster stories to the kids in the projects, complete with a dramatic reading, making the werewolf sounds. My career was aborted early on because one of my main customers started to have nightmares and his mother came to my mother and my mother shut down my whole business.
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