A Quote by Tyler Winklevoss
Bitcoin and digital currency is just this thing that was always going to happen.
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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.
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.
You just can't bifurcate bitcoin currency from the technology. Bitcoin will always need a monetary base.
I do think some digital currency will end up being the reserve currency of the world. I see a path where that's going to happen.
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.
Earlier, physical currency used to dominate. Now, mobile currency or digital currency is dominating. For digital currency, fintech is very crucial.
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.
Digital currency is now a misnomer for Bitcoin. It can be used as currency, but it can be used for many things.
I think that the future of currency is digital, and Bitcoin has a good shot at being the currency of the future.
You'll be using digital currency. I think really what will happen is you'll use a combination of bitcoin, ether, your devices, the 'Internet of Things.' We've got billions of devices coming online.
Bitcoin is mostly about anonymous transactions, and I don't think over time that's a good way to go. I'm a huge believe in digital currency... but doing it on an anonymous basis I think that leads to some abuses, so I'm not involved in Bitcoin.
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.
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.
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.
The regulator banned cryptocurrency... then there was an order from the Supreme Court. So, in the absence of any strong law, it was very important for us to come out with a comprehensive law-one for the private digital currency and second for the government for its digital form of currency, or the virtual currency.
Applying criminal law to the exchange of bitcoin on behalf of ransomware victims would create a morally shocking result of re-victimizing a victim. All lawfully operating digital currency exchanges would thereafter refuse to exchange bitcoin for ransomware victims for fear of criminal culpability.
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