Fred Ehrsam Quotes

Bitcoin is really a fascinating example of how human beings create value, and is not always rational... tt is not a rational currency in that case.

Bitcoin's value is the same: It will remain as long as it is the most efficient mechanism for transferring ownership.

I think long-term, Bitcoin is a currency of the Internet. So, even if humans don't use it, routers will use it. Web browsers will use it. Web servers will use it.

People think about Bitcoin incorrectly. They think about it as currency or about gold or hoarding, speculation, about how much money do you make. When really, what it is is an API for programmable cash transactions.

Bitcoin is successful only because of its potential for circumvention, lack of oversight.

I love this stuff - bitcoin, ethereum, blockchain technology - and what the future holds.

Something like bitcoin is really important because it is not correlated to the rest of the market.

I think Bitcoin really feels empowering in a sense.

I just spent the last 8 months working on the second edition of 'Mastering Bitcoin,' and I couldn't even scratch the surface of all the innovation that is happening in BTC.

There is absolutely no reason in the world of blockchain to build in net settlement. It's like saying you have got a new Ferrari and we are going to put a lawnmower engine in it.

I think the whole narrative of blockchain without bitcoin will amount to very little.

Price is the least interesting thing about bitcoin.

We really think of Bitcoin as a global, interoperable payment network instead of a store of value.

We see bitcoin as potentially the greatest social network of all.

Once people see Bitcoin and how it works, they realise this isn't just a flash in the pan.

As money, Bitcoin achieves two objectives; it's both a unit of transaction as well as being a store of value. The U.S. dollar, for example, is a unit of transaction, but it is not a store of value.

Digital currency is now a misnomer for Bitcoin. It can be used as currency, but it can be used for many things.

And once you get instantaneous communication with everybody, you have economic activity that's far more advanced, far more liquid, far more distributed than ever before.

Bitcoins can be traded or used for purchases, but only with those sellers who will accept them. Because it is a system independent of external meddling, there can be no sudden devaluation of Bitcoins through the actions of governments.

I do not understand where the backing of Bitcoin is coming from. There is no fundamental issue of capabilities of repaying it in anything which is universally acceptable, which is either intrinsic value of the currency or the credit or trust of the individual who is issuing the money, whether it's a government or an individual.

In truth, the best Bitcoin can hope for is to be a second-rate version of gold, if that.

In the aftermath of the oh-so-predictable crash, the Bitcoin fanatics have begun marshaling out excuse after excuse for why this non-investment investment lost so much of its value so fast. One was that hackers attacked some of the exchanges for Bitcoins and crippled it. Really? A hacker can wreck an entire market?

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.

In January 2013, one could buy a Bitcoin for about $13. By late November, one Bitcoin would have set a buyer back over $1100.

Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin; they value it because they believe that they can exchange it for something else.