Get QuoteDark Inspirational Quotes App

" 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. "

Related Quotes:

" 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

" 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. "

" 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 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. "

" 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. "

" 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. "

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

" 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. "

" 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. "

" 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. "

" Bitcoin's value is the same: It will remain as long as it is the most efficient mechanism for transferring ownership. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

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

" The best engineered organisms can outpace others, even if they start smaller or later. "

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

" 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. "

" 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

" 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. "

" 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. "

" 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. "

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

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

" 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. "

" The self-driving car revolution was kicked off by The 'DARPA' Grand Challenge to make an autonomous car traverse 132 mi. of a desert. "