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Bitcoin

Created by the pseudonymous Satoshi Nakamoto in 2009, Bitcoin is a peer-to-peer electronic cash system.

Finance and payments Privacy coin

🔑 81%

Reviews for Bitcoin

🔑 42 positive | 💩 10 negative

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I don't have a view on what the ultimate value of a Bitcoin will be nor do I care. I am interested in Bitcoin plain and simply because I believe it can be and possibly will be the financial and transactional protocol for the global Internet.

2013-11-24 | Full Review

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Until the Bitcoin community ditches the cranks and adopts a sensible monetary policy that properly recognises both the need for savings to be intermediated into productive investment and the need for money to flow, Bitcoin cannot possibly operate as the anchor of the cryptocurrency ecosystem.

2018-04-11 | Full Review

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Why has Bitcoin failed? It has failed because the community has failed. What was meant to be a new, decentralised form of money that lacked “systemically important institutions” and “too big to fail” has become something even worse: a system completely controlled by just a handful of people. Worse still, the network is on the brink of technical collapse.

2016-01-14 | Full Review

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The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be Bitcoin.

2018-03-21 | Full Review

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Bitcoin has unfortunately innovated more lowly than Yahoo in the last 10 years. It may end up the reserve e-gold, but the conservatism that has prevented evolution of the tech may ultimately even threaten that status.

Sean Parker, Philanthropist, Entrepreneur, Founder of Napster

2018-04-29 | Full Review

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In the crypto world, Bitcoin is perceived as slow to change, clunky technologically, and as having bad governance. While all these things may be true, Bitcoin has strong network effects that will maintain its status as the primary value store in the short to medium term.

2017-12-11 | Full Review

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I would be long Bitcoin, and neutral to skeptical of just about everything else at this point with a few possible exceptions. There will be one online equivalent to gold, and the one you'd bet on would be the biggest.

2018-03-15 | Full Review

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Why will Bitcoin accrue value in a way that Ethereum won’t?

Because in addition to being a protocol, it is a product.

2018-08-13 | Full Review

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Bitcoin is backed by the full faith and credit of the frustration with incumbent financial institutions.

2014-02-15 | Full Review

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Bitcoin has an interesting property in that it was ethically issued and has ongoing ethics in its distribution: everyone knows the rules and takes risks based on how the code works. Incentives are aligned

Most other projects don’t even attempt to duplicate this level of fairness

2018-09-26 | Full Review

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If/when the scaling debate is settled, I believe it will solidify Bitcoin as the store of value of the future. I get laughed at a lot for saying this in front of people in real life, but I truly think we will see a great rotation from global fiat currencies into more fair money systems like Bitcoin and the altcoins created in its wake. If Bitcoin can solve its scaling issues (which I think it will), it is not outside the realm of possibility that one day 1 bitcoin will be worth as much or more than $1million USD in today’s terms.

2017-02-24 | Full Review

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BTC is the Birkin Bag of crypto-assets. Expensive and rare with high transaction costs but huge brand value.

2018-01-08 | Full Review

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Totalitarian socialists need Bitcoin.
Oppressed citizens need Bitcoin.
Bitcoin is a money for enemies, it is socially scalable.

2018-11-09 | Full Review

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What is needed is actually secure independence of money from politics, which the Bitcoin protocol does much better than any other prior monetary system.

Nick Szabo, Blockchain, cryptocurrency, and smart contracts pioneer

2018-11-11 | Full Review

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Ten years in and Bitcoin could hardly be more successful — indeed since its genesis it has clearly been the most successful form of money ever invented. It has thrown entire bodies of economic theory out of the window, the old practitioners gripping tenuously from the balcony. Bitcoin grew 10,000-fold without the anointment of any king, nor the blessing of any banker.

2018-10-31 | Full Review

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There is nothing about Bitcoin that makes it a good store of value. That line of narrative is incredibly dangerous. It has been used to sell Bitcoin to the masses who don’t understand where that value is going to come from.

2018-06-12 | Full Review

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If you don't trust your government, the value prop of Bitcoin becomes extremely obvious.

Russians and Venezuelans are currently driving the largest share of LocalBitcoins volume worldwide. They are using Bitcoin to opt-out of dysfunctional governance.

2018-10-26 | Full Review

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Bitcoin’s strongest moat is that it’s the only leaderless cryptonetwork. . . Satoshi could leave right at the beginning because Bitcoin was already “good enough”. It was based on 30 years worth of work in cryptography and computational game theory. But all other cryptos aren’t “good enough” to overcome Bitcoin’s network effect and switching cost.

2018-05-22 | Full Review

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Bitcoin continues to be misunderstood by many people in the cryptocurrency space who want it to be more than it has to be for it to succeed. . . . Yes, Bitcoin has all sorts of drawbacks as a blockchain, but it is the one cryptocurrency with a widely understood use case: censorship resistant store of wealth. Fiat currencies, precious metals and real estate (including land) all have more government control and/or are more difficult to move around and transact in than Bitcoin. With everything crazy that’s going on in the world politically, the demand for censorship resistant wealth storage is high and growing.

2017-10-30 | Full Review

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The fact that the few merchants willing to accept bitcoin generally convert to dollars right away suggests an underlying lack of faith in bitcoin—or at least a problem with the volatility. It’s also a reflection of the reality that a business still needs to deal in dollars with most of the world.

2013-12-01 | Full Review

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We don’t theorize about what exists today. We can observe.

We can extrapolate though. Bitcoin has thus far replaced zero currencies per decade. I agree it’s fair to expect that trend to continue

2018-11-10 | Full Review

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Transaction demand is to some extent a function of the number of people simply holding the currency. Even if my main use case is holding, I’m still going to have to enter and leave the network.

This wouldn’t matter much if Bitcoin had loads of on-chain capacity, but the current capacity limits (likely to hold for a while) will turn even modest global adoption — just by people who do the minimum transacting possible — into a capacity problem.

2018-10-14 | Full Review

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Why I think Bitcoin is evolving towards Reserve Asset status:
📈 10yr track record
📈 Highest security
📈 Stable & growing protocol stack
📈 Institutional adoption
📈 High & improving privacy
📈 Politically neutral
📈 User sovereignty
📈 Virtuous liquidity cycle

2018-11-30 | Full Review

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The power of miners is very limited. Try to stop your central bank from diluting your currency by doubling the money supply in the next 30 years. Impossible. Now try doing it in bitcoin. Easy: just run a full node. We'll run them together. It'll work. That's how we got here.

2018-11-19 | Full Review

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When humans change the way we think about the world we are able to invent more powerful types of organizations. Bitcoin is a breakthrough in self organization - now the rest of the world just needs to update its mental models to take advantage of it.

2018-11-25 | Full Review

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Bitcoin isn't "cool" or "awesome" new tech. It's an ugly contraption optimized to be neutral apolitical money, not for your user experience. It's not the toy you want, it's the medicine you need.

Like it or not, it's your best chance for living in a free market with sound money.

2018-12-05 | Full Review

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The beauty is that Bitcoin isn't a reliable store of value yet, but it will be if it gets adopted. Adoption = more liquidity & lower volatility. So late adoption and SoVness are one and the same. By definition no one can be left out.

Nic Carter, Partner at Castle Island Ventures and Co-creator of Coinmetrics

2018-12-02 | Full Review

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Full nodes on the Bitcoin blockchain store every transaction made going back to the zero block; full nodes on the Ethereum blockchain additionally store the static code (if any) associated with a given account and that code’s current state in storage.

2016-01-06 | Full Review

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I received $1,000 this week from a friend. PayPal shows $955 as withdrawable amount.

$45 fee for a $1,000 payment, while Bitcoin processes $194 million with $0.1

2018-12-01 | Full Review

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Bitcoin exists not only on the technological layer but even more importantly, on the social layer. It is open-source software. If there is truly a technological breakthrough, it can simply be added to bitcoin.

2018-12-25 | Full Review

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Bitcoin is still working today, exactly the same as it worked last year and the year before that and the year before that. By all the noise and all of the stuff and all of the crashes and this and that and the other thing, it just continues to work. It just is. It’s becoming like air or water. It just is, like it or hate it. It just is.

2018-01-01 | Full Review

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Bitcoin is one of the most important inventions of all time and has launched a global movement. It's awesome to see an entire ecosystem spring up around it, but Bitcoin is my first love.

Bitcoin remains the most popular asset on Coinbase among new customers and longtime hodlers alike. It's great to see steady progress continue, including lightning network adoption and more.

I believe we’re still at the beginning. The white paper signaled the start of a movement and the full promise of Bitcoin is still yet to be realized.

2019-01-03 | Full Review

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Adam Smith called capital "stored labor". Bitcoin is literally stored computational labor (stored Hashcash).

2015-07-02 | Full Review

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[B]itcoin as a payment system is just one of the potential applications of the network. To cap Bitcoin’s value here would be like saying that the Internet, in the early days, was only as valuable as its ability to send email in a more efficient way than fax or snail mail. Bitcoin is valuable as a currency because of the economic efficiencies the Bitcoin network is already creating as transactions flow over it. As with the Internet, more applications will flourish which will make the Bitcoin network, and thus Bitcoin as a currency, valuable.

Fred Ehrsam, Board of Directors at Coinbase, Previous Co-Founder of Coinbase

2014-01-02 | Full Review

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The Internet enables decentralized distribution of data. Bitcoin enables decentralized proof and transfer of ownership.

Fred Ehrsam, Board of Directors at Coinbase, Previous Co-Founder of Coinbase

2014-01-02 | Full Review

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Bitcoin is aiming to be a store of value. Architectural stability, network security, network effects, decentralization, wide acceptance all matter. It’s currently the best of an imperfect bunch on those characteristics.

2018-01-29 | Full Review

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1) Bitcoin alone now routinely moves hundreds of millions of dollars per day
2) Yet some say there are “no use cases” for crypto

Key point: not all of that volume is trading. At least some is for paying remote workers, international remittances, etc.

2018-12-03 | Full Review

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Since bitcoin is a decentralized currency that is controlled by algorithms rather than one or a small handful of individuals, there is no option to simply “print more money”. This precludes governments from instituting reckless monetary policies and subverting entire economies on little more than a whim.

2014-02-23 | Full Review

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Bitcoin was an important part of getting this technology recognised, largely through the socially-sensitive MVP of a currency. However it didn’t really capture the imagination of developers in general.

2015-11-18 | Full Review

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