Quotes About Bitcoin

It's probably easier and cheaper to counterfeit hundred-dollar bills than it is to counterfeit Bitcoin.

I've been through a lot of moments when other people thought Bitcoin was going to implode, and in those instances, I generally have seen through inaccurate coverage of it.

Bitcoin is probably the most fungible currency ever created.

If bitcoin is more expensive or slower than traditional financial systems, people aren't going to use it.

Until part of your paycheck is regularly paid in Bitcoin, I'm not sure how it would really go mainstream. I can imagine places in the world where there are not functioning banking systems or payroll systems, where it could go mainstream first because you're not trying to replace the way people are already doing something.

Bitcoin is a peer-to-peer, decentralized form of money, as durable as the Internet itself. Remember, the Internet - or DARPA, as it was originally called - was created as a fail-safe, global network with no 'single point of failure.' If one part goes down, data takes another route, and nothing is lost.

I am really surprised bitcoin isn't more popular in India, given the strong gold culture here. I call it Gold 2.0. It has all the attributes other than the fact that it isn't tangible, and tangibility is less important in the digital age.

In the same way that central banking nearly wrecked the world and created one calamity after another, bitcoin can save the world one transaction at a time. It is time for a new beginning.

One, bitcoin is not a stand-alone currency but a unit of accounting attached to an innovative payment network. Two, this network and therefore bitcoin only obtained its market value through real-time testing in a market environment.

What Bitcoin started is metamorphosing into something bigger: a 'crypto-tech'-driven economy with its own value creation, not unlike the Web's own economy. Welcome to the cryptoconomy.

Well, bitcoin is a currency. Bitcoin has no underlying rate of return. You know, bonds have an interest coupon. Stocks have earnings and dividends. Gold has nothing, and bitcoin has nothing. There is nothing to support the bitcoin except the hope that you will sell it to somebody for more than you paid for it.

Just like the Internet disrupted the publishing industry, we're going to see Bitcoin micropayments creating some very interesting opportunities for pay-as-you-go, pay-based-on-time online businesses and, frankly, some risks as well to the traditional business model as to how things get sold online.

Because the supply of Bitcoin is limited, the price of Bitcoin is going to have to increase and increase very substantially over time. My advice is that if you're interested in Bitcoin and excited by Bitcoin, then buy some Bitcoin and hold onto them, and you're likely to do very well over time.

For people who invest in bitcoin, the allure is precisely that: It's not backed by a central government. So it's not manipulatable by central government.

I think, more than anything, Bitcoin presents an opportunity.

You can crank out Bitcoins on a PC, but it's an incredibly computer-intensive task, and it will keep getting harder as the number of Bitcoins in existence increases. Some people have pooled together hundreds of machines to 'mine' Bitcoins. Most folks, however, just buy them on an exchange.

Taxes have been complicated. Every single time I spend a Bitcoin, it's a taxable event. It's like I bought and sold an asset. It counts as an investment, with a short- or long-term capital gain or loss.

My salary is converted to bitcoin, and taxes are taken out. You have to do all the tax computations in dollars because the IRS does not deal in bitcoins.

Though I don't personally believe that Bitcoin is true money, it should be perfectly legal, and there should be no restrictions on it; there should be no taxes on it.

Bitcoin or other digital currency isn't saved in a file somewhere; it's represented by transactions recorded in a blockchain—kind of like a global spreadsheet or ledger, which leverages the resources of a large peer-to-peer bitcoin network to verify and approve each bitcoin transaction.

Every ten minutes, like the heartbeat of the bitcoin network, all the transactions conducted are verified, cleared, and stored in a block which is linked to the preceding block, thereby creating a chain. Each block must refer to the preceding block to be valid.

The bitcoin protocol is about mining bitcoin, not pricing bitcoin. There is nothing in the protocol about establishing a market price for bitcoin; you need a market for that, but what if all the exchange markets are shut down?

Whatever happens to bitcoin, other cryptocurrencies are gaining ground and more respect. Ethereum, for instance, has far more transparency.

We are very excited about the use of blockchain, whether it's Bitcoin or not, but we are as enthusiastic as ever about Bitcoin as a global currency and, really more importantly, Bitcoin as a global financial rail.