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" 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

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

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

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

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

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

" 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. "

" The ability to easily buy and sell Bitcoin has been a really key factor in accelerating Bitcoin adoption. "

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

" 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. "

" 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. "

" I think the whole narrative of blockchain without bitcoin will amount to very little. "

" As with early internet startups, some token models don't make sense. For every 1 huge hit, there will be 3 minor successes and 100 failures, so we shouldn't be surprised when some fail. "

" 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. "

" 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

" 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. "

" Private funding was one of the first methods used when MIT funded Bitcoin core developers Gavin Andresen, Wladimir van der Laan, and Cory Fields in 2015. "

" 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. "

" There is nothing that Bitcoin can do which Ethereum can't. While Ethereum is less battle-tested, it is moving faster, has better leadership, and has more developer mindshare. "

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

" 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. "

" People far too often associate derivatives markets with mere speculation, but there are very legitimate businesses that need derivatives to protect themselves against risk. "

" For the foreseeable future, I'm all about building blockchain-based decentralized services. "

" 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. "