Jimmy Song on Bitcoin

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Jimmy Song teaches Bitcoin and blockchain software development at Programming Blockchain. He's a venture partner at Blockchain Capital and a Bitcoin Core contributor.

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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 Jimmy Song

🔑 2 positive | 💩 0 negative

2019

  • 🔑

    Bitcoin is something that is natural, decentralized, uncontrolled and digital. This is something that didn’t exist before Satoshi invented it in 2008 and I would argue, doesn’t exist with any other cryptocurrency. This is the key to Bitcoin’s usefulness as money. Scarcity is the first thing that’s required without which its proposition as money crumbles.

    2019-01-15 | Full Review

  • 🔑

    Too many people make a category error when it comes to Bitcoin.

    Bitcoin is not a tech play like Instagram where you have to constantly innovate to win. Bitcoin is a monetary play like gold where stability and security are what make it valuable.

    2019-01-05 | Full Review

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When Bitcoin Cash and Bitcoin SV get to mining cost equilibrium, assuming their prices are both $100, the cost to reorganize 6-blocks will be $7,500 (12.5 block reward with almost no fees x $100 x 6 blocks ). In 1.5 years that cost halves. Still think a fee market is ridiculous?

2018-12-06 | Full Review

Bitmain is the central bank of BCH. Bitmain has tried to maintain a peg to their reserve currency, BTC, and has failed. Bitmain has failed to keep the peg at 0.15 BTC, 0.12 BTC and recently capitulated the 0.1 BTC level. This is a central bank selling its reserves to keep its peg to another currency. What’s worse, much like a central bank, they’re running out of reserves and BCH will finally float on the market instead of having the artificially inflated value that it has now.

2018-09-10 | 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

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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

🔑

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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