Fred Ehrsam on Bitcoin

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Fred Ehrsam co-founded Coinbase in 2012. Formerly, Ehrsam was a Foreign Exchange trader at Goldman Sachs.

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

Finance and payments

Bitcoin reviews by Fred Ehrsam

πŸ”‘ 2 positive | πŸ’© 0 negative

2014

  • πŸ”‘

    [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

  • πŸ”‘

    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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πŸ”‘

Enter Ethereum. Ethereum has taken what was a four-function calculator of a programming language in Bitcoin and turned it into a full-fledged computer. We now stand only nine months out from the beginning of the Ethereum network, and the level of app development is already faster than Bitcoin’s.

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

2016-05-24 | Full Review

πŸ”‘

Numerai is one of the first examples I have seen where the clear endgame is a product for AIs.

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

2016-12-14 | Full Review

πŸ”‘

Ethereum was the first thing to me to come along [after Bitcoin] and create something with capabilities so new that it was worth adding [to Coinbase]. Allowing arbitrary programs is amazing, fiddling with block time/inflation rate is not.

[T]he future is thousands/millions of cryptoassets like we have millions of apps and websites but very few base networks. This mostly looks like assets being built on top of Ethereum at the moment.

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

2016-07-22 | Full Review

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πŸ”‘

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

πŸ”‘

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

πŸ”‘

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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