Words matter. These are the best Fred Ehrsam Quotes, and they’re great for sharing with your friends.
Make no mistake – Ethereum would never have existed without Bitcoin as a forerunner. That said, I think Ethereum is ahead of Bitcoin in many ways and represents the bleeding edge of digital currency.
The scripting language in Bitcoin is important because it is what makes Bitcoin ‘programmable money’. Within each Bitcoin transaction is the ability to write a little program.
Just as the Internet brought the cost of disseminating information down by an order of magnitude, bitcoin brings the cost of transferring ownership down by an order of magnitude.
The self-driving car revolution was kicked off by The ‘DARPA’ Grand Challenge to make an autonomous car traverse 132 mi. of a desert.
Ethereum will be a first-class citizen on Coinbase.
Not having sub-governance would be like anyone who owns USD being able to walk into a Google shareholder meeting and voting without owning Google stock just because Google shares happen to be denominated in USD.
When the Bitcoin white paper emerged in 2008, it was completely revolutionary. The amount of concepts that had to come together in just the right way – computer science, cryptography, and economic incentives – was astonishing.
At the end of the day, what’s going to make bitcoin successful is more people making more interesting things, just like the beginning of the Internet.
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.
The fundamentals of the token model are valuable and powerful. They allow communities to govern themselves, their economics, and rally a community in powerful ways that will allow open systems to flourish in a way that was previously impossible.
Tokens align incentives between developers, contributors, users, and investors. They allow everyone who wants to contribute to a project early the opportunity to get in on the ground floor.
Bitcoin has a core technological innovation: The ability to publicly verify ownership, instantly transfer that ownership, and do so without the need for a trusted third party.
Redistributing tokens is a balancing act. In most cases, forks probably want to keep ownership for users constant so users have at least the same incentives to use the new fork as the historical one.
Blockchains are digital organisms. As organisms evolve through changes in their DNA, blockchain protocols evolve through changes in their code. And like biological organisms, the most adaptive blockchains will be the ones that survive and thrive.
The ability to easily buy and sell Bitcoin has been a really key factor in accelerating Bitcoin adoption.
Ethereum may make monetary policy decisions like, ‘Let’s do 1% inflation to support the ongoing development of the Ethereum protocol.’ A token built on Ethereum might want to do the same.
Just like mutations to DNA in biological organisms allow for evolution through natural selection, forking lets us run multiple experiments in parallel where the strongest versions survive.
There’s been a myth perpetuated where people think, ‘I need to go into consulting, banking, finance, law, or medicine to make a consistently reasonable amount of money.’ People are now realizing that’s not the case.
Public crowdfunding still suffers from a tragedy of the commons problem. Everyone will want the benefit of the crowdfunded efforts but is incentivized to sit on the sidelines and hope others chip in.
OpenAI is doing important work by releasing tools which promote AI to be developed in the open. Compute power is largely produced by NVIDIA and Intel and still relatively expensive but openly purchasable. Blockchains may be the key final ingredient by providing massive pools of open training data.
Bitcoin is inherently international, and one of its great promises is it enables cross-border payments in a more efficient way.
At GDAX, we want to see new protocols and their tokens flourish.
We are on our way to blockchains as the fabric of society – the system for what we own (assets), who we are (identity), how we make decisions (governance), and more in an increasingly digital world. It’s going to be a wild ride.
Everything will be tokenized and connected by a blockchain one day.
When Coinbase was starting, we thought we were seeing the birth of something that was really important – what I would almost describe as the future fabric of society – the system for who we are – our identities, what we own, our assets.
While it may seem scarier in the earlier days, I think ultimately the blockchain creates a safer world.
AIs are only as good as the data they are trained on.
The Internet will continue to be valuable so long as it is the most efficient mechanism for transferring data. Bitcoin’s value is the same: It will remain as long as it is the most efficient mechanism for transferring ownership.
People far too often associate derivatives markets with mere speculation, but there are very legitimate businesses that need derivatives to protect themselves against risk.
If you are going to store your e-wallet on your own server, don’t keep your e-wallet on your desktop, and make sure you use encryption. If you lose your computer, your bitcoins are lost forever.
