Fred Ehrsam Quotes

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.

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.

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.

Once upon a time, I liked to call myself 'The Grandfather of NXT' because I was one of the first to come up as I was, from NXT.

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.

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.

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.

Bitcoin is a bank in cyberspace, run by incorruptible software, offereing a global, affordable, simple an dsecure savings account to billions of people that don't have the option or desire to run their own hedge fund.

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.

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.

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.

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.

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.

Mobile was Internet 2.0. It changed everything. Crypto is Internet 3.0.

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

I'm not wed to bitcoin's blockchain. I'm blockchain-agnostic.

Bitcoin offers one service: securely time-stamped, scripted transactions. Everything else is built on the edge-devices as an application. Bitcoin allows any application to be developed independently, without permission, on the edge of the network.

Bitcoin solved the double-spend problem. The key problem was payment confirmation without central clearing. Bitcoin's solution was ingenious but wasteful - it's fairly slow, and you can't put other things on it.

Private funding was one of the first methods used when MIT funded Bitcoin core developers Gavin Andresen, Wladimir van der Laan, and Cory Fields in 2015.

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.

Bitcoin and other cryptocurrencies are a form of money that's a stable field that the government can't destroy and can't distort. Because its creation is governed by the laws of mathematics. It can't happen any faster or slower than a certain rate, and it all sort of self-adjusts.

A distributed ledger is basically a shared database that allows institutions to directly send and receive money in a trustworthy fashion without a middleman. As a result, we have the capacity to connect the world's payment systems for the first time.That's a big deal.

Bitcoin is a peer-to-peer, decentralized form of money, as durable as the Internet itself. Remember, the Internet - or DARPA, as it was originally called - was created as a fail-safe, global network with no 'single point of failure.' If one part goes down, data takes another route, and nothing is lost.

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.