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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

🔑 76%

Reviews for Bitcoin

🔑 26 positive | 💩 8 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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If something is to displace Bitcoin now, it will have to have sizable improvements and it will have to happen quickly. Otherwise, this network effect will carry Bitcoin to dominance.

2014-01-21 | Full Review

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Bitcoin takes powers from the central actors and returns it to merchants and consumers, savers and borrowers. Bitcoin brings back some pseudonymity in the transactions, and can be irrevocably traded like cash. And finally, it points a way towards a single currency – it is a bug, not a feature, that we have multiple global currencies with exchangers and transaction fees in between.

2013-11-07 | 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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The secret to Bitcoin’s success is that its prolific resource consumption and poor computational scalability is buying something even more valuable: social scalability.

Nick Szabo, Blockchain, cryptocurrency, and smart contracts pioneer

2017-02-09 | 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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[Bitcoin] doesn’t suffer from numerous problems of Gold. (1) Physical nature (2) Centralization-in-Vaults problem (3) Easier to seize (4) Harder to verify (5) Even more disinflationary (6) Susceptible to a lot of “claims” and “derivs” which expand the supply (7) slow to settle transactions around the world (8) hard to carry billions with you through the airport (9) have to trust intermediaries to use (10) not extensible / can’t build even more additional utility / perks atop it I can go on for days.

2018-11-19 | 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 lacks key properties of money. Considering it to be such, IMO, is a clear predictor of a gross misunderstanding of the technology and its potential.

2018-08-26 | 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 magic of bitcoin is that when you send one, you can’t keep it too. That obviously changes what it means to own things on the internet (“my bitcoins” feels really different than “my iTunes songs”).

2018-08-24 | 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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By 2040, everyone under 30 will have never known a world without Bitcoin. It may as well be gold. That’s the long-term case for replacement.

2017-11-12 | 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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Like a lot of people I initially dismissed Bitcoin as a speculative bubble (“Internet tulip bulbs”) or a place to stash money for people worried about inflation (“Internet gold”). At some point, I had an “aha!” moment and realized that Bitcoin was best understood as a new software protocol through which you could rebuild the payments industry in ways that are better and cheaper.

2013-12-31 | 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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