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" 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. "

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" 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. "

Fred Ehrsam

Creating

Over

Will

" At GDAX, we want to see new protocols and their tokens flourish. "

" 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. "

" The Internet had a core innovation that made it valuable: The ability to disseminate data over a distributed network in a way that was significantly cheaper than the prior methods. "

" When you drill down, blockchains are really a shared version of reality everyone agrees on. So whether it's a fully immersive VR experience, augmented reality, or even Bitcoin or Ethereum in the physical world as a shared ledger for our 'real world,' we'll increasingly trust blockchains as our basis for reality. "

" Sales conducted on-chain through smart contracts couldn't really be done before Ethereum, which is why they are a newer concept. I think this style will become the most common over time. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" When the actual Bitcoin network launched in 2009, no one knew about it, and many of those who did thought it would surely fail. Just to make sure the thing worked, the scripting language in Bitcoin was intentionally extremely restrictive. "

" While it may seem scarier in the earlier days, I think ultimately the blockchain creates a safer world. "

" 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. "

" Everything will be tokenized and connected by a blockchain one day. "

" 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. "

" Scaling is multidimensional. Different methods address different things. "

" Ethereum has taken what was a four-function calculator of a programming language in Bitcoin and turned it into a full-fledged computer. "

" Working on a token is similar to working on a startup: higher risk and lower initial impact but higher upside potential. How core protocol work is best funded beyond the initial Ethereum Foundation endowment is an open question, but likely further out. "

" Ethereum will be a first-class citizen on Coinbase. "

" 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. "

" Developer mindshare is the most important thing to have in digital currency. "

" Working on Ethereum could be similar to working at a Google: lower risk with broad impact right away. Working on a token is similar to working on a startup: higher risk and lower initial impact but higher upside potential. "

" 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 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. "

" 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. "

" 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. "

" Bitcoin is inherently international, and one of its great promises is it enables cross-border payments in a more efficient way. "

Fred Ehrsam

Bitcoin

Way