Quotations
"Every CEO wants to know about blockchain because it is an opportunity and a threat to their business, simultaneously"
"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution."
"What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers."
"With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless."
"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust."
"Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own."
"We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownership."
"we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. The system is secure as long as honest nodes collectively control more CPU proof-of-worker than any cooperating group of attacker nodes."
"On the blockchain, nobody knows you're a fridge."
"Distributed ledgers – or decentralised databases – are systems that enable parties who don’t fully trust each other to form and maintain consensus about the existence, status and evolution of a set of shared facts”
“Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.”
“You can’t stop things like Bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust.”
“We have elected to put our money and faith in a mathematical framework that is free of politics and human error.”
“There are 3 eras of currency: Commodity based, politically based, and now, math based.”
“Bitcoin was created to serve a highly political intent, a free and uncensored network where all can participate with equal access.”
“Bitcoin will do to banks what email did to the postal industry.”
“Cryptocurrency is such a powerful concept that it can almost overturn governments.”
— Charles Lee
“Bitcoin may be the TCP/IP of money.”
“Bitcoin is a techno tour de force.”
“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.”
“Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative.”
“The blockchain keeps everyone honest, and a whole layer of banking bureaucracy is removed, lowering costs.”
“someday consumers and businesses won’t hold bitcoins for their account but will unknowingly access the bitcoin network whenever payments are made.”
"The entire purpose of a blockchain data structure is to enable decentralized control, and so is nonsensical when deployed by a central authority."
"When it comes to bitcoin adoption, there are generally two rules that never seem to fail. Everyone always feels late, and everyone always wishes they had bought more bitcoin."
The Five Stages of Dealing with Bitcoin Grief:
1) Denial: "Bitcoin can't work and will die"
2) Anger: "Ok, Bitcoin works, but government should ban Bitcoin"
3) Bargaining: "Ok, government can't ban Bitcoin, but it's not important. What's interesting is blockchain, the technology behind Bitcoin"
4) Depression: "All blockchains other than Bitcoin will fail"
5) Acceptance: "Bitcoin is gunpowder, the later you adopt it, the worse off you will be"