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" 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

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

" 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. "

" 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. "

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

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

" 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. "

" 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. "

" 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. "

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

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

" 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

" 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. "

" 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. "

" 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. "

" 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. "

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

" 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. "

" 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. "

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

" 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. "

" When Coinbase was starting, we thought we were seeing the birth of something that was really important - what I would almost describe as the future fabric of society - the system for who we are - our identities, what we own, our assets. "

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

" 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. "

" 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. "

" 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 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. "

" 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. "

" 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. "

" 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. "

" 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. "