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" 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. "

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" 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. "

Fred Ehrsam

Want

Others

Hope

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

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

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

" 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. "

" 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. "

" 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. "

" 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

Good

" 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. "

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

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

" 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

" 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. "

" 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. "

" 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. "

" 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 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. "

" 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. "

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

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

" 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. "

" 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. "