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" The best engineered organisms can outpace others, even if they start smaller or later. "
Fred Ehrsam
Start
Best
Even
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" I think it's fundamentally a good sign that more and more professional traders and market makers are providing liquidity to the whole ecosystem. It allows people to move much larger quantities of digital currency more quickly than they would if that were not the case. "
Fred Ehrsam
Professional
Think
People
" Developer mindshare is the most important thing to have in digital currency. "
Fred Ehrsam
Currency
Most
Important
" While it may seem scarier in the earlier days, I think ultimately the blockchain creates a safer world. "
Fred Ehrsam
Think
Days
Seem
" 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. "
Fred Ehrsam
Need
Ownership
Party
" Bitcoin's value is the same: It will remain as long as it is the most efficient mechanism for transferring ownership. "
Fred Ehrsam
Most
Long
Value
" 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. "
Fred Ehrsam
Just Because
Walk
Voting
" AIs trained on open data are more likely to be neutral and trustworthy instead of biased by the interests of the corporation who created and trained them. "
Fred Ehrsam
Trustworthy
Open
Data
" 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. "
Fred Ehrsam
Data
Value
Ownership
" 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. "
Fred Ehrsam
Language
Fail
Just
" 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. "
Fred Ehrsam
Right
Way
White
" 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. "
Fred Ehrsam
Early
Everyone
Project
" AIs are only as good as the data they are trained on. And while many of the tech giants working on AI, like Google and Facebook, have open-sourced some of their algorithms, they hold back most of their data. "
Fred Ehrsam
Back
Like
Good
" 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. "
Fred Ehrsam
Think
Done
Sales
" To create an open protocol which helps coordinate resources towards a common goal, the resources need to be known at some level in the same way a lot of of data on the web needs to be public for it to be traversable and useful. "
Fred Ehrsam
Way
Create
Data
" 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. "
Fred Ehrsam
Ownership
Internet
Information
" 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. "
Fred Ehrsam
Think
People
Finance
" 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. "
Fred Ehrsam
People
Beginning
Day
" I'd guess blockchains will be the full-blown backbone of virtual worlds - the system for currency, assets, identity, even governance - before doing the same in the 'real world.' Which is where I think we will end up in the real world eventually; it's just a matter of which goes first and how long until it's the case for both. "
Fred Ehrsam
End
Identity
Doing
" 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
More
" 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. "
Fred Ehrsam
Think
Edge
Ahead
" Everything will be tokenized and connected by a blockchain one day. "
Fred Ehrsam
Day
One Day
Blockchain
" The self-driving car revolution was kicked off by The 'DARPA' Grand Challenge to make an autonomous car traverse 132 mi. of a desert. "
Fred Ehrsam
Revolution
Car
Off
" Ethereum will be a first-class citizen on Coinbase. "
Fred Ehrsam
First-Class
Citizen
Ethereum
" For the foreseeable future, I'm all about building blockchain-based decentralized services. "
Fred Ehrsam
About
Building
Decentralized
" People far too often associate derivatives markets with mere speculation, but there are very legitimate businesses that need derivatives to protect themselves against risk. "
Fred Ehrsam
Against
Risk
Need
" 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. "
Fred Ehrsam
Impossible
Powerful
Way
" Forks often arise from differences of opinion in the direction of a project. And tokens are increasingly a mechanism for voting on changes to their protocols. Since the point of a fork is to try a new path, the new fork may not want to port all of the prior holders opposed to trying the new path the fork was created to take. "
Fred Ehrsam
Direction
Voting
Path
" 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. "
Fred Ehrsam
Google
Impact
Risk
" Ethereum has taken what was a four-function calculator of a programming language in Bitcoin and turned it into a full-fledged computer. "
Fred Ehrsam
Bitcoin
Computer
Language
" 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. "
Fred Ehrsam
New
Same
Want