Words matter. These are the best Patrick M. Byrne Quotes, and they’re great for sharing with your friends.
On the blockchain, you have a public ledger, which is the form of ownership. That means you are not doing net settlement – just netting everything down, which means that everything has been turned into fungible numbers.
I’ve been in a room in Silicon Valley where on the wall they have 160 industries they think blockchain can disrupt. We picked six of them to focus on.
I’ve been all over meeting government ministers and such in Caribbean financial circles. There’s a small blockchain movement in the Caribbean. They’ve been quite a bit more advanced than you might’ve imagined.
I’m not wed to bitcoin’s blockchain. I’m blockchain-agnostic.
If we get to a world of digital securities, then there isn’t a need for DTC and Cede & Co. anymore. It’s a really huge step in returning to clean capital markets.
The main event isn’t bitcoin. It’s using the blockchain to disrupt other industries and Wall Street.
t0 is blockchain-agnostic so, ultimately, we can use anybody’s blockchain.
How high can bitcoin go? The real question is how low can the dollar go?
There are regulators at the SEC and elsewhere who are really excited about the potential of the blockchain. They understand you can build a robust financial system – it would solve all your black swan problems. All kinds of mischief and games that are played in the current system become impossible in this system.
There is an opportunity to recreate the financial world as we know it in the parallel universe that is the blockchain. We are writing rules for this whole new universe.
We want a money that some government mandarin can’t just whisk into existence with a pen stroke.
You’re going to start seeing open-source, self-executing contracts gradually improve over time. What the Internet did to publishing, blockchain will do to about 160 different industries. It’s crazy.
Cryptocurrencies in general give us a stable medium through which we can communicate our information about values and prices in a way that no government mandarin can distort or usurp. For the predators who have used our central institutions to predate on the rest of humanity, it’s a very bad development.
I’m not in the business of bayoneting the wounded. I feel the blockchain revolution is kind of my victory. I don’t care whether I win it, someone else wins it.
Bitcoin and other cryptocurrencies are a form of money that’s a stable field that the government can’t destroy and can’t distort. Because its creation is governed by the laws of mathematics. It can’t happen any faster or slower than a certain rate, and it all sort of self-adjusts.
The virtues of the blockchain is that it would be that it’s peer-to-peer settlement – no centralized settlement, no manipulation… And most importantly, there’s nothing to capture. It’s consensus based. It’s stateless.
We want enough people adopting Bitcoin for a robust infrastructure. It’s an act of patriotism. It gives the country a robust parallel system.
