Over 50 Bitcoin and Blockchain Thoughts and Quotes You Need to Read!
“Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.”
Leon Luow, Nobel Peace prize nominee
Bitcoin and its disruptive DNA platform infrastructure Blockchain are still in their inception but are now making the biggest revolution in the finance industry probably in the last hundreds of years! Average investors are still skeptical but big investors are putting their money on it! Bellow a gathering of powerful quotes and experts from top industry experts, investors, Nobel Prize, CEOs, Economists, technology drivers about the subject that everyone that is in business and fintech is talking about. These quotes and reflections help explain the evolution of the Bitcoin and Blockchain phenomenon and its power for innovation and its DNA of disruption that it is still in its early days but that according to many might be the biggest of the game change technologies.
In the same way that search engines, browsers and Google disrupted the Internet, and Napster and peer-to-peer file sharing changed the face of the recording industry, bitcoin and blockchain technology and its associated ecosystem and broader frame re already forcing financial organisations to reconsider and change their traditional roles, infrastructure. But its foundations have the capacity to be much more revolutionary.
Most people remain skeptical of the libertarian swarm tech driven utopia, just look at Paul Krugman: “So do we need a new form of money [Bitcoin]? I guess you could make that case if the money we actually have were misbehaving. But it isn’t. We have huge economic problems, but green pieces of paper are doing fine — and we should let them alone.” Also the big investor Warren Buffet in 2014 Warren Buffett warned other investors to stay away from Bitcoin, calling it “a mirage,” and going as far as saying that, while it may be a better way of transmitting money, the “idea that it has some huge intrinsic value is just a joke!
But the reality is that both government, global organisations and banks and global financial players are moving control / getting close of the money supply to Bitcoiners. Moreover the critical element that most are starting to come around is on the blockchain as an important / critical part of our financial and tech or all over digital future. The bellow quotes and reflections help looking at both Bitcoin and Blockchain in more in depth level and see how the global most influential personalities and investors are looking and acting on it!
1999, Professor Milton Friedman, a Nobel Prize winner in economics stated:
“I think the internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing but that will soon be developed, is a reliable e-cash.” Nine years later after this quote, Bitcoin was born.
Here are the quotes and thoughts! Enjoy and reflect and start action!
“The swarm is headed towards us”
Satoshi Nakamoto, when WikiLeaks started accepting Bitcoin donation.
“Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate.”
Marc Andreesen, inventor of the first browser, thought leader and top VC.
“Bitcoin is just one example of something that uses a blockchain. Cryptocurrencies are just one example of decentralized technologies. And now that the Internet is big enough and diverse enough, I think we will see different flavors of decentralized technologies and blockchains. I think decentralized networks will be the next huge wave in technology. The blockchain allows our smart devices to speak to each other better and faster.”
“blockchain is more than just ICT innovation, but facilitates new types of
economic organization and governance. Suggests two approaches to economics of
blockchain: innovation-centred and governance-centred. Argues that the governance
approach—based in new institutional economics and public choice economics—is most
promising, because it models blockchain as a new technology for creating spontaneous
organizations, ie new types of economies.”
Primavera De Filippi, Economics of blockchain with Sinclair Davidson, Jason Potts
“I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world.”
Peter Thiel, Co-Founder of Paypal.
“Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative. But I am not familiar with the specific product to assert whether it is the best potential setup. And we need a long time to establish confidence.”
Nassim Taleb, author, thought leader and former trader.
“You can’t stop things like Bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust”
John McAfee, Founder of McAfee.
“Bitcoin may be the TCP/IP of money.”
Paul Buchheit, Creator of Gmail.
“[Bitcoin] is a techno tour de force.”
Bill Gates, Founder of Microsoft.
“Bitcoin seems to be a very promising idea. I like the idea of basing security on the assumption that the CPU power of honest participants outweighs that of the attacker. It is a very modern notion that exploits the power of the long tail.”
Hal Finney”So bitcoin is cyber snob currency…”
William Shatner, Actor known for lead role in Star Trek TOS.
“Bitcoin enables certain uses that are very unique. I think it offers possibilities that no other currency allows. For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself.”
“(Bitcoin) It’s money 2.0, a huge huge huge deal.”
Chamath Palihapitiya, Previous head of AOL instant messenger.
“We have elected to put our money and faith in a mathematical framework that is free of politics and human error.”
Tyler Winklevoss, Co-creator of Facebook, top investor in Bitcoin.
“Hey, obviously this is a very interesting time to be in Bitcoin right now, but if you guys want to argue over whether this is reality or not, one Bitcoin will feed over 40 homeless people in Pensacola right now. If you guys want proof Bitcoin is real, send them to me, I’ll cash them out and feed homeless people.”
“There are 3 eras of currency: Commodity based, politically based, and now, math based.”
Chris Dixon, Co-founder of Hunch now owned by Ebay, Co-founder of SiteAdvisor now owned by McAfee
“Bitcoin was created to serve a highly political intent, a free and uncensored network where all can participate with equal access.”
“Right now Bitcoin feels like the Internet before the browser.”
Wences Casares, Founder of Banco Lemon, aquired by Banco do Brazil, Won Xbox game of the year for his game Assault Heroes
“Bitcoin will do to banks what email did to the postal industry”
Rick Falkvinge, Founder of the Swedish pirate party
“When I first heard about Bitcoin, I thought it was impossible. How can you have a purely digital currency? Can’t I just copy your hard drive and have your bitcoins? I didn’t understand how that could be done, and then I looked into it and it was brilliant”
“As the value goes up, heads start to swivel and skeptics begin to soften. Starting a new currency is easy, anyone can do it. The trick is getting people to accept it, because it is their use that gives the “money” value.”
Adam B. Levine
“At its core, bitcoin is a smart currency, designed by very forward-thinking engineers. It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions… all good things”
“Bitcoin actually has the balance and incentives right, and that is why it is starting to take off”
Julian Assange, Founder of Wikileaks
“Bitcoin is the currency of resistance.” “If Satoshi had released Bitcoin 10 yrs. earlier, 9/11 would never have happened”
“Bitcoin, and the ideas behind it, will be a disrupter to the traditional notions of currency. In the end, currency will be better for it.”
Edmund C. Moy
“There is so much potential, … I am just waiting for it to be a billion dollar industry.”
“Wow, Silk Road actually works”
“Cryptocurrency Protocols Are Like Onions… One common design philosophy among many cryptocurrency 2.0 protocols is the idea that, just like the internet, cryptocurrency design would work best if protocols split off into different layers. Under this strain of thought, Bitcoin is to be thought of as a sort of TCP/IP of the cryptocurrency ecosystem, and other next-generation protocols can be built on top of Bitcoin much like we have SMTP for email, HTTP for webpages and XMPP for chat all on top of TCP as a common underlying data layer.”
“[Bitcoin] is a very exciting development, it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets.”
Kim Dotcom, CEO of MegaUpload
“The bitcoin world is this new ecosystem where it doesn’t cost that much to start a new bitcoin company, it doesn’t cost much to start owning bitcoin either, and it is a much more efficient way of moving money around the world.”
“I love seeing new services constantly starting to accept Bitcoin. Bitcoin is really becoming “the currency of the Internet.” I’m most concerned by possible government reactions to Bitcoin. They can’t destroy Bitcoin, but they could really slow things down by making exchange much more difficult.”
“Cryptocurrency is such a powerful concept that it can almost overturn governments”
“I really like Bitcoin. I own Bitcoins. It’s a store of value, a distributed ledger. It’s a great place to put assets, especially in places like Argentina with 40 percent inflation, where $1 today is worth 60 cents in a year, and a government’s currency does not hold value. It’s also a good investment vehicle if you have an appetite for risk. But it won’t be a currency until volatility slows down.”
David Marcus, CEO of Paypal
“Spend some time with Bitcoin. Learn it, challenge it, and use it. You can assume no government wants you adopting this system in any capacity, and for that reason alone it’s worth consideration by honest, moral, and industrious people”
“Economists and journalists often get caught up in this question: Why does Bitcoin have value? And the answer is very easy. Because it is useful and scarce.”
“Will people be buying yachts with their Dogecoin riches some day? Probably not. But are we having a lot of fun, helping great causes and spreading the digital currency word in the process? Yes we are. And perhaps if we pool our Dogecoin together we can build a Dogeyacht and sail the world, just saying…!”
“[Virtual Currencies] may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.”
Ben Bernanke, Former Chairman of the Federal Reserve
“Bitcoin will do to banks what email did to the postal industry”
Rick Falkvinge, Founder of the Swedish pirate party
“I think the fact that within the bitcoin universe an algorithm replaces the functions of [the government] … is actually pretty cool. I am a big fan of Bitcoin”
Al Gore, 45th Vice President of the United States
“So bitcoin is cyber snob currency…”
William Shatner, Actor known for lead role in Star Trek TOS
“Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value”
Eric Schmidt, CEO of Google
“Bitcoin is the most important invention in the history of the world since the Internet.”
Money is a collective agreement. If enough people come to the same agreement, what they agree upon becomes secondary, whether it be farm animals, gold, diamonds, paper, or simply a code. History proves all these cases to be true. Who knows what the future is going suggest to us as money, once we see digital currencies as ordinary?”
S.E. Sever, Writer
I understand the political ramifications of [bitcoin] and I think that government should stay out of them and they should be perfectly legal.”
Ron Paul, Republican Texas Congressman and former candidate for US President
“Cryptology represents the future of privacy [and] by implication [it] also represents the future of money, and the future of banking and finance.”
Orlin Grabbe, Economist
“Gold is a great way to preserve wealth, but it is hard to move around. You do need some kind of alternative and Bitcoin fits the bill. I’m not surprised to see that happening.”
Jim Rickards, American Lawyer, Economist and Investment Banker
“It’s gold for nerds.”
Stephen Colbert, American writer, comedian, television host, actor
“What can’t kill Bitcoin, makes it (us) stronger.”
Mark Wittkowski, Online marketer, coach and pioneer in online lead generation.
“The relative success of the bitcoin proves that money first and foremost depends on trust. Neither gold nor bonds are needed to back up a currency.”
Arnon Grunberg, Writer
“The governments of the world have spent hundreds and hundreds of trillions of dollars bailing out a decaying, dickensian, outmoded system called banking, when the solution to the future of finance is peer-to-peer. It’s going to be alternative currencies like bitcoin and it’s not actually going to be a banking system as we had before 2008.”
Patrick Young, Financial analyst
“Instant transactions, no waiting for checks to clear, no chargebacks (merchants will like this), no account freezes (look out Paypal), no international wire transfer fee, no fees of any kind, no minimum balance, no maximum balance, worldwide access, always open, no waiting for business hours to make transactions, no waiting for an account to be approved before transacting, open an account in a few seconds, as easy as email, no bank account needed, extremely poor people can use it, extremely wealthy people can use it, no printing press, no hyper-inflation, no debt limit votes, no bank bailouts, completely voluntary. This sounds like the best payment system in the world!”
Trace Mayer J.D., a Leading Monetary Expert on Bitcoin and Gold
“Virgin Galactic is a bold entrepreneurial technology. It’s driving a revolution and Bitcoin is doing just the same when it comes to inventing a new currency.”
Sir Richard Branson, Founder of Virgin Records, Virgin Galactic, and 400+ businesses
“Forget the currency; it’s the protocol behind it that matters. It will mutate and take over everything we do (or could one day do) on the Web. You’ve been warned.”
Morgen E. Peck
“Understanding the Bitcoin blockchain as a trustless and agnostic settlement engine provides a good beginning framework for those who are new to the technology. Much of its utility can be couched in its ability to ensure almost free, almost riskless, and fully auditable settlement.
Bitcoin’s ability to remove the extra costs added by transactional intermediaries will likely force financiers to have a come-to-Jesus moment. In the same way that Napster and peer-to-peer file sharing changed the face of the recording industry, blockchain technology will force financiers to reconsider their traditional roles. Banks and financial institutions will never disappear, but there will be major changes to be made in how they create value for their customers. Luckily for them, the newness of the blockchain makes innovation a low-hanging venture.”
Chris DeRose is the community director of the Counterparty Foundation.
To finish invstr’s Lea Jakobiak asks in a video what Blockchain actually is!
Bellow an interview by invstr’s Lea Jakobiak that asks what Blockchain actually is to Chris Gledhill, CEO of Secco Bank and Dinis Guarda founder of tradersna.com and intelligenthq.com. Some food for thought about what the hype is all about and how it is or will affect us all.
Any further quotes or reflections you know? Please put them in the comments and give us your work thoughts!
For each of these quotes there is someone who’s name or role in a company is generally known by the public who had something to say about Bitcoin or Blockchain.
- Great sources to look about Bitcoin and Blockchain: