Chris Dixon on Bitcoin
Chris Dixon is a General Partner at Andreessen Horowitz, where he leads the firms dedicated crypto fund. Dixon's investments in cryptocurrency include Ripple, 21.co, and OpenBazzar.
Created by the pseudonymous Satoshi Nakamoto in 2009, Bitcoin is a peer-to-peer electronic cash system.
Bitcoin reviews by Chris Dixon
🔑 3 positive | 💩 1 negative
2018
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đź’©
There was a civil war in Bitcoin and I was on the losing side, I guess, the so-called big block side. In theory, it was a debate over literally a single number in the GitHub code, which is called the block size. In practice it was really a debate between two broader visions of blockchain technology or Bitcoin. One was that the purpose of this is to disrupt the Federal Reserve—the cypherpunk, libertarian view. The other side, which I’m on, says that this is a really interesting new architecture where you could build lots of things that could be financially related, like money.
I think Bitcoin itself is interesting, but could do much more than that as well. And this side wanted to not only change its parameter, but do other things—like add a more rich programming language. Bitcoin actually has a very basic programming language. So our side lost. But then Ethereum came out [in 2014] and those folks were on my side.
2018-09-10 | Full Review
2015
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🔑
Adam Smith called capital "stored labor". Bitcoin is literally stored computational labor (stored Hashcash).
2015-07-02 | Full Review
2014
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🔑
The first phase of Bitcoin was about laying the foundational infrastructure – gateways, consumer wallets, developer platforms, merchant services etc. The next phase will be about native Bitcoin apps – building new things that could never have been built before. These will likely be the applications that drive Bitcoin adoption into the mainstream.
2014-10-04 | Full Review
2013
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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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Every 10-15 years, there’s a major new transition. . . . To me, Ethereum is the most important technology of the decade, for sure. I don’t even think it’s going to be questionable.
2018-04-19 | Full Review
We do think [a stablecoin like Dai] is a really important idea, to have a coin pegged to something like the U.S. dollar in order to make the experience more mainstream and accessible, [versus a world rife with] these volatile coins. We think it’s such an important piece of infrastructure that there could be multiple winners.
2018-06-25 | Full Review
Three years ago, Ethereum was a just a white paper. Today, Ethereum market cap is $1.6B, with a >$200M crowd-controlled fund to sponsor Ethereum projects and lots of interesting projects in development.
2016-06-17 | Full Review
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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
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
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