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Monday, May 1, 2017

Bitcoin,Blockchain is the world's leading software platform for digital ...

It dawned on me the other day, that we are in the midst of the biggest financial miracle since the dot com bubble. Now, I am not saying we are in a bubble but we are entering into a world where money no longer represents what we thought it did. Back in 1998 stocks were all the rage everyone was entering into the stock market trying to make a quick buck. Then in 2000 everything went sour; companies went bankrupt and life went on. What was left was what we have today- the Internet. The internet provided a pipeline for companies such as Google, Facebook, Snapchat, and Apple to come out and become that 500+ billion dollar company we know today. The exact same thing is happening today. Currencies are turning into the stock trading wild wild west of the 1990s. As we enter in 2017, currencies are surging to an all time high. The interesting thing here is that many people are still in disbelief that bitcoin is at $2000+ outpacing the price of gold by a large margin. The news pundits are always running articles about how bitcoin is used by drug dealers and criminals. It is as if they dont quite understand that these currencies represent a paradigm shift in how we use money. I clearly remember that when the Internet first started people were mistrustful about sending email or personal information online. Many people didn't take the Internet seriously, at first they thought it was a nice novelty item that only children used to do homework or look online. Little did they know that the internet changed everything. The world of crypto currencies represents the birth of a different internet. It is basically the evolution of how information is now delivered and valued. Information will move from being a commodity to one of value. The perfect example of this is how we migrated from using paper cash to credit cards. Every time we swipe the card at a store we transmit information that represents value into a box that then deducts money from our bank account. We never really physically touch it, instead the information is stored somewhere in a server. Cryptocurrencies take this concept one step further and force people to think of money as a "contract" that travels much greater distances. Imagine paying someone in Asia within several seconds? A few years ago this was unthinkable to imagine that money a store of time and value can move across walls and countries within the blink of an eye We are experiencing the largest financial shift the world has seen and it is rapidly expanding at an exponential rate. The big question you want to ask is...are we in a bubble? graph crypto.png We are at this stage past innovators phase and moving into the early adopters. The mainstream media along with our traditional institutions do not take currencies seriously. What you are witnessing right now are people like you and me who are dipping their toes in this pool and experimenting with this technology. Its therefore my conclusion that if we hold on we may yet to reap the biggest rewards possible both monetary and technological.

Quotes about Bitcoin 


"[Bitcoin] is a techno tour de force." - Bill Gates, Founder of Microsoft

"You can't stop things like Bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust" - John McAfee, Founder of McAfee

“It's money 2.0, a huge huge huge deal.” - Chamath Palihapitiya, Previous head of AOL instant messenger

“We have elected to put our money and faith in a mathematical framework that is free of politics and human error.” - Tyler Winklevoss, Co-creator of Facebook

“Entire classes of bugs are missing.” - Dan Kaminsky, Security Penetration Expert for Cisco and Avaya

“There are 3 eras of currency: Commodity based, politically based, and now, math based.” - Chris Dixon, Co-founder of Hunch now owned by Ebay, Co-founder of SiteAdvisor now owned by McAfee

“Right now Bitcoin feels like the Internet before the browser.” - Wences Casares, Founder of Banco Lemon, aquired by Banco do Brazil, Won Xbox game of the year for his game Assault Heroes

"Bitcoin will do to banks what email did to the postal industry" - Rick Falkvinge, Founder of the Swedish pirate party

"Bitcoin may be the TCP/IP of money." - Paul Buchheit, Creator of Gmail

“ I think the fact that within the bitcoin universe an algorithm replaces the functions of [the government] … is actually pretty cool. I am a big fan of Bitcoin” - Al Gore, 45th Vice President of the United States

"I am very intrigued by Bitcoin. It has all the signs. Paradigm shift, hackers love it, yet it's derided as a toy. Just like microcomputers." - Paul Graham, Creator of Yahoo Store

“I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world." - Peter Thiel, Co-Founder of Paypal

"I really like Bitcoin. I own Bitcoins. It's a store of value, a distributed ledger. It's a great place to put assets, especially in places like Argentina with 40 percent inflation, where $1 today is worth 60 cents in a year, and a government's currency does not hold value. It's also a good investment vehicle if you have an appetite for risk. But it won't be a currency until volatility slows down." - David Marcus, CEO of Paypal

“"[Virtual Currencies] may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.” " - Ben Bernanke, Chairman of the Federal Reserve

"Virgin Galactic is a bold entrepreneurial technology. It's driving a revolution and Bitcoin is doing just the same when it comes to inventing a new currency." - Sir Richard Branson, Founder of Virgin Records, Virgin Galactic, and 400+ other businesses

"So bitcoin is cyber snob currency..." - William Shatner, Actor known for lead role in Star Trek TOS

"Bitcoin actually has the balance and incentives right, and that is why it is starting to take off" - Julian Assange, Founder of Wikileaks

"[Bitcoin] is a very exciting development, it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets." - Kim Dotcom, CEO of MegaUpload

"Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value" - Eric Schmidt, CEO of Google

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