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" We need to build opt-in society, outside the U.S., run by technology. "
Balaji Srinivasan
Technology
Need
Build
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" If you deal with information, you need the Internet. If you deal with money, you need to deal with blockchains. "
Balaji Srinivasan
You
Need
Information
" Mobile technology makes us ever more mobile, increasingly permitting not just easier movement around a home base but permanent international relocation. "
Balaji Srinivasan
Technology
Us
Home
" Machine translation of signs, text, and speech brings down language barriers and facilitates ever more cross-cultural meetings of like minds. "
Balaji Srinivasan
Meetings
Speech
Language
" I learned that despite having years and years of experience in math and computer science and so on, I didn't really know how to code until I formed a company. "
Balaji Srinivasan
Math
Experience
Company
" By, say, 2025-2030, I expect that there will be multiple jurisdictions that allow the tokenization of virtually any scarce resource, all the way down to personal tokens. "
Balaji Srinivasan
Down
Will
Way
" We believe the most significant long-term application of bitcoin may be reducing the upfront cost of internet-connected devices to make them more accessible for the developing world. "
Balaji Srinivasan
Long-Term
World
Cost
" Anything scarce will ultimately be tokenized because the benefits of digitization and increased liquidity are so great. "
Balaji Srinivasan
Benefits
Anything
Because
" Many great founders have one or more big failures on their track record. What makes them great is that they eventually succeed despite that. "
Balaji Srinivasan
Big
Great
Track
" It used to be that you had to come to Silicon Valley, walk up Sand Hill Road, network with individuals. That's now being completely changed and turned on its head by the whole ICO thing. "
Balaji Srinivasan
Road
You
Hill
" I think tokenization eventually means everyone becomes an investor once all the regulatory issues are worked out - from your computer itself to a kid in India messing around with $10. "
Balaji Srinivasan
Your
Think
Everyone
" Our nation of immigrants is, tautologically, a nation of emigrants. "
Balaji Srinivasan
Immigrants
Our
Nation
" Tokenization applies to scarce assets. Today, the most appropriate thing to tokenize is something that's purely digital. Bitcoin and ethereum are the canonical. "
Balaji Srinivasan
Today
Bitcoin
Digital
" Conceptually, we believe that embedded mining will ultimately establish bitcoin as a fundamental system resource on par with CPU, bandwidth, hard drive space, and RAM. "
Balaji Srinivasan
Space
Drive
Will
" Don't do a startup unless you're ideologically driven to make it succeed beyond the economic motivation. "
Balaji Srinivasan
Driven
You
Motivation
" We think of bitcoin as mobile. It's not one company; it's broad. "
Balaji Srinivasan
Mobile
Company
Broad
" There are downsides to implicitly trusting banks, as the 2008 financial crisis showed. "
Balaji Srinivasan
Crisis
Financial Crisis
Financial
" The Internet is programmable information. The blockchain is programmable scarcity. "
Balaji Srinivasan
Information
Blockchain
Internet
" The future of technology is not really location-based apps; it is about making location completely unimportant. "
Balaji Srinivasan
Future
Making
Location
" Isn't the purpose of bitcoin mining simply to get rich - or not, as the case may be? Well, at 21, we are less concerned with bitcoin as a financial instrument and more interested in bitcoin as a protocol - and particularly in the industrial uses of bitcoin enabled by embedded mining. "
Balaji Srinivasan
Financial
Well
More
" Bitcoin is a way to have programmable scarcity. The blockchain is the data structure that records the transfer of scarce objects. "
Balaji Srinivasan
Data
Blockchain
Scarce
" I'm interested in businesses that take digital bits and turn them into interfaces for physical atoms. I'm also interested in drones, Bitcoin, and 3D printing. "
Balaji Srinivasan
Drones
Atoms
Turn
" Every time you load a webpage is a HTTP request. That's a lot of HTTP requests. If you are earning bitcoin on every HTTP request, that could be a lot of earned bitcoins. "
Balaji Srinivasan
You
Time
Lot
" Virtually every major technology has an initial spike of interest, then a dip, and then a long-term rise to success. The dot-com bubble is the canonical example, but there are many more. "
Balaji Srinivasan
Rise
Technology
Success