– Rick Falkvinge, Founder of the Swedish pirate party “Bitcoin will do to banks what email did to the postal industry” And perhaps if we pool our Dogecoin together we can build a Dogeyacht and sail the world, just saying…!” But are we having a lot of fun, helping great causes and spreading the digital currency word in the process? Yes we are. “Will people be buying yachts with their Dogecoin riches some day? Probably not. “Economists and journalists often get caught up in this question: Why does Bitcoin have value? And the answer is very easy. 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” “Cryptocurrency is such a powerful concept that it can almost overturn governments” They can’t destroy Bitcoin, but they could really slow things down by making exchange much more difficult.” Bitcoin is really becoming “the currency of the Internet.” I’m most concerned by possible government reactions to Bitcoin. “I love seeing new services constantly starting to accept Bitcoin. “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.” 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.” “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. “There is so much potential, … I am just waiting for it to be a billion dollar industry.” In the end, currency will be better for it.” “Bitcoin, and the ideas behind it, will be a disrupter to the traditional notions of currency. 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” “At its core, bitcoin is a smart currency, designed by very forward-thinking engineers. The trick is getting people to accept it, because it is their use that gives the “money” value.” Starting a new currency is easy, anyone can do it. “As the value goes up, heads start to swivel and skeptics begin to soften. 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” “When I first heard about Bitcoin, I thought it was impossible. “Bitcoin was created to serve a highly political intent, a free and uncensored network where all can participate with equal access.” If you guys want proof Bitcoin is real, send them to me, I’ll cash them out and feed homeless people.” “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. 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.” I think it offers possibilities that no other currency allows. “Bitcoin enables certain uses that are very unique. It is a very modern notion that exploits the power of the long tail.” I like the idea of basing security on the assumption that the CPU power of honest participants outweighs that of the attacker. “Bitcoin seems to be a very promising idea. – Satoshi Nakamoto, when WikiLeaks started accepting Bitcoin donation The one thing that’s missing but that will soon be developed, is a reliable e-cash.” In 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.
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