Fred Ehrsam Quotes

If you're someone in the business of verifying transactions on a proprietary network, the invention of Bitcoin cannot be safely ignored. It will change or disrupt the providers of most proprietary payment networks in the coming years.

When the Bitcoin white paper emerged in 2008, it was completely revolutionary. The amount of concepts that had to come together in just the right way - computer science, cryptography, and economic incentives - was astonishing.

You look at Bitcoin, and it is an entirely new currency, completely decentralized, anonymous; transactions occur incredibly fast for free, all designed by the free market.

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

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.

Cryptocurrency currencies take the concept of money, and they take it native into computers, where everything is settled with computers and doesn't require external institutions or trusted third parties to validate things.

Whatever happens to bitcoin, other cryptocurrencies are gaining ground and more respect. Ethereum, for instance, has far more transparency.

Think of Bitcoin as a bank account in the cloud, and it's completely decentralized: not the Swiss government, not the American government. It's all the participants in the network enforcing.

Cryptocurrencies like Bitcoin are already trustless - any machine can accept it from any other, securely. They are (nearly) free. They are global - no central bank required, and any machine can speak the language.

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

Pretty uniformly, people want the benefits of bitcoin and the blockchain - near-instant transfers, globally available on any Internet-connected device, highly secure, and nearly-free value transfers.

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.

When asked to explain this space, I often ask people to forget pretty much everything you've heard about blockchains, crypto-currencies, and bitcoin, and instead dumb it down a lot and think about something no more complex or intimidating than good old-fashioned database technology.

Everyone, it's okay to say the word 'bitcoin' and acknowledge that it is the actual platform that is driving this innovation that we're all building on. It's also okay to say 'the bitcoin blockchain,' or 'the blockchain,' if you're afraid that people will think you're weird.

Bitcoin is great as a form of digital money, but its scripting language is too weak for any kind of serious advanced applications to be built on top.

Bitcoin is open-source, global, and requires no permission from anybody, so thousands of entrepreneurs are gravitating in and building their vision.

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.

When the actual Bitcoin network launched in 2009, no one knew about it, and many of those who did thought it would surely fail. Just to make sure the thing worked, the scripting language in Bitcoin was intentionally extremely restrictive.

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 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the financial press was filled with reportage on Bitcoin and its dramatic price increase.

It's important not to think about Bitcoin as a replacement for cash or gold or something that works alongside that; it's to think of it as programmable money. And we just cannot even imagine what that will be used for.

Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy.

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.

Blockchain's a very interesting technology that will have some very profound applications for society over the years to come.