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Oscar Darmawan – CEO of Bitcoin. I really believe that Blockchain technology will eventually change the way system works. Bitcoin might revolutionize more than money or economics. It could transform the role and nature of government. Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative. But I am not familiar with the specific product to assert whether it is the best potential setup.
And we need a long time to establish confidence. If I had money in Bitcoin, I would have reported it. Bitcoin will become a huge, worldwide success. Virgin Galactic is a bold entrepreneurial technology. It’s driving a revolution and Bitcoin is doing just the same when it comes to inventing a new currency.
The next step in human evolution would be a race that could put their trust in each other, not in their rulers or politicians. This may be the purest form of democracy the world has ever known, and I — for one — am thrilled to be here to watch it unfold. If we remember, 15 years ago if you were doing anything on the internet you were going to make millions. I think it could be the same with Bitcoin. I personally own Bitcoin in my hedge fun, I own Bitcoin in my fund, I own Bitcoin in my private account. It’s a huge, huge, huge deal.
Because what you’re talking about right now is, for the next three to five years, an unbelievably better stored value. With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless. Bitcoin is money over internet protocol. There are 3 eras of currency: commodity based, politically based, and now, math based.
Bitcoin has the opportunity to be a big disruptor in financial services. It’s the cheapest way to move money around. Did I mention how good it feels to be a Bitcoin millionaire? I do think Bitcoin is the first that has the potential to do something like change the world.
Bitcoin is a technological tour de force. These past days, I have done a lot of thinking about Bitcoin that ended up with me investing all of the money I had saved and all that I can borrow into the currency. It can only go UP UP UP! BUY NOW – Don’t wait till next week! NEVER SELL – No matter how high it spikes! Gold is a great way to preserve wealth, but it is hard to move around.
You do need some kind of alternative and Bitcoin fits the bill. I’m not surprised to see that happening. Bitcoin will do to banks what email did to the postal industry. Regulation of money supply needs to be depoliticized. All the things that gold does, Bitcoin kind of does better. Digital currency is going to be a very powerful thing. You can basically put a bank in your pocket That’s pretty amazing.
Had you asked me five years ago, I would just say it was impossible. Bitcoin and cryptocurrencies solved this problem of coming to a consensus globally where you don’t trust anybody else. The governments of the world have spent hundreds and hundreds of trillions of dollars bailing out a decaying, dickensian, outmoded system called banking, when the solution to the future of finance is peer-to-peer. It’s going to be alternative currencies like Bitcoin and it’s not actually going to be a banking system as we had before 2008. The relative success of the Bitcoin proves that money first and foremost depends on trust. Neither gold nor bonds are needed to back up a currency. Cryptology represents the future of privacy by implication also represents the future of money, and the future of banking and finance.