David Sacks
David Sacks is the co-founder of Craft Ventures, a venture fund focused on technology and cryptocurrency. He previously founded Yammer, and was also COO of PayPal.
David Sacks on Bitcoin
Bitcoin
Created by the pseudonymous Satoshi Nakamoto in 2009, Bitcoin is a peer-to-peer electronic cash system.
Bitcoin reviews by David Sacks
All Bitcoin reviews by expert David Sacks.
- 2017
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David Sacks on Bitcoin Co-Founder of Craft Ventures
After [serving as COO of] PayPal I never thought I would get interested in payments again. But Bitcoin is fulfilling PayPal's original vision to create "the new world currency." We actually had T-shirts printed in 1999 with that mission statement.
A payment is just a credit to one account and a debit to another. That's a database entry. We believed that, if we could get enough people to participate, money would never need to leave the system. PayPal could become the database of money.
. . . [C]ryptocurrencies like bitcoin are now fulfilling that original vision. They are doing it in a decentralized way (with a decentralized database called the blockchain) whereas PayPal tried to do it in a centralized way.
Full review2017-08-14
- 2013
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The difference between Bitcoin and a bubble is that if everyone believes it Bitcoin, it actually becomes true.
Full review2013-11-27