Bitcoin has been described as a decentralized, peer-to-peer virtual currency that is used like money - it can be exchanged for traditional currencies such as the U.S. dollar or used to purchase goods or services, usually online. Unlike traditional currencies, Bitcoin operates without central authority or banks and is not backed by any government.
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Related Bitcoin is a peer-to-peer, decentralized form of money, as durable as the Internet itself. Remember,... MAX KEISER Virtual currency, where it's called a bitcoin vs. a U.S. dollar, that's going to be stopped.... JAMIE DIMON Credits in your PayPal account are really just USD-backed - they are not a unique currency themselve... ERIK VOORHEES It's important not to think about Bitcoin as a replacement for cash or gold or something that wo... NAVAL RAVIKANT We are very excited about the use of blockchain, whether it's Bitcoin or not, but we are as enth... BARRY SILBERT The Asian currency rally has arrived, ... most Asian currencies should appreciate by a much larger m... JAMES MCCORMICK If bitcoin is more expensive or slower than traditional financial systems, people aren't going t... ROGER VER Bitcoin is valuable as a currency because of the economic efficiencies the bitcoin network is alread... FRED EHRSAM Bitcoin has the potential to destroy credit cards and banks as we know it. Maybe that is a good thin... GARRY TAN To be, or not to be, that is the question. WILLIAM SHAKESPEARE For the first time in 6,000 years of human history, we can have peer-to-peer exchange where trust is... PATRICK M. BYRNE What bitcoin does better than the current financial system is it's a better stored value globall... ADAM DRAPER A dollar vigilante is a free market individual who protests the government monopoly and financial po... JEFF BERWICK I view Bitcoin as the more democratic version of money and value transfer because no one controls it... OLAF CARLSON-WEE Kindness is fate’s currency for good fortune. And like all currencies, it is without value when fa... PSYCHE ROXAS-MENDOZA People think about Bitcoin incorrectly. They think about it as currency or about gold or hoarding, s... NAVAL RAVIKANT To be or not to be. That's not really a question. JEAN-LUC GODARD Isn't the purpose of bitcoin mining simply to get rich - or not, as the case may be? Well, at 21... BALAJI S. SRINIVASAN Just as the web democratized publishing and development, Bitcoin can democratize building new financ... NAVAL RAVIKANT The currencies of science are discoveries and ideas; the rewards are the excitement of going where n... JOHN SULSTON Do I have the courage of being a ruthless man to myself with the complete knowledge on my manner or ... FEREIDOON YAZDI Bitcoin is amazingly transformative because it's the first time in the entire history of the wor... ROGER VER Gemini is a spot bitcoin exchange. To use it, you sign up with Gemini.com and undergo the initial st... TYLER WINKLEVOSS Make no mistake - Ethereum would never have existed without Bitcoin as a forerunner. That said, I th... FRED EHRSAM Just like the Internet disrupted the publishing industry, we're going to see Bitcoin micropaymen... BARRY SILBERT It's not just the weakness in U.S. stocks this time. The dollar is falling (against major currencies... NORIHIRO FUJITO At its core, bitcoin is a smart currency designed by very forward-thinking engineers. It eliminates ... PETER DIAMANDIS Think of Bitcoin as a bank account in the cloud, and it's completely decentralized: not the Swis... NAVAL RAVIKANT To be or not to be is not a question of compromise. Either you be or you don't be. GOLDA MEIR To be mad is worse than not to be if this is what it is. JOHNNY RICH Hamlet's Cat's Soliloquy "To go outside, and there perchance to stay Or to re... HENRY N. BEARD To be or not to be isn't the question. The question is how to prolong being. TOM ROBBINS I do not understand where the backing of Bitcoin is coming from. There is no fundamental issue of ca... ALAN GREENSPAN The U.S. dollar is lower, putting up the mark and associated currencies and hitting European exporte... JAMES CORNISH The U.S. is piling on the pressure and is likely to name China a currency manipulator, so China migh... DAVID WOO What is helping the dollar is the moral persuasion of the central banks. There's been contact betwee... DAVE GILMORE Snow's admission of central banks diversifying from dollars could be used as dollar-selling material... TERUHISA TSUJI The Obama administration, seemingly without any concern or worry, funneled money around U.S. law thr... JEFF DUNCAN Nothing is ever as good or as bad as it appears to be. JEFFREY FRY With little in terms of fresh news or developments overnight, traders appear content to trade the U.... ALEX BEUZELIN After the payroll data was released, it was more or less U.S. dollar buying across the board, but Ca... JACK SPITZ The currency impact is what I expected. Currencies can give you a headwind or a tailwind, but the ne... CARL SIBILSKI The currency impact is what I expected, ... Currencies can give you a headwind or a tailwind, but th... CARL SIBILSKI Online advertising will serve as a catalyst for change in the traditional ad business. Media integra... PATRICK KEANE It's notable that CAD has participated less in the gains against the U.S. dollar than most currencie... ADAM COLE Chinese software developers should be able to work on the Linux kernel project, as a peer, with some... MARK WHITE For the first time, entrepreneurs can monetize their own open-source and peer-to-peer network. They ... OLAF CARLSON-WEE Asian central banks have been huge buyers of Treasuries, so if they're going to be buying less to ho... DARIUSZ KOWALCZYK Everyone has their own views on what sexy is. Some are inhumane and some others would only view as a... NERISSA IRVING You just can't bifurcate bitcoin currency from the technology. Bitcoin will always need a moneta... BARRY SILBERT The first enslaving illusion is the idea that people are born to be consumers and that they can atta... IVAN ILLICH This up leg should be quite strong because gold was previously regarded by many investors as 'just a... DAVID FULLER I think that the future of currency is digital, and Bitcoin has a good shot at being the currency of... ADAM DRAPER The yen continued to strengthen this morning at the expense of high yielding currencies such as Aust... DANIEL KATZIVE Public office is a public trust, the authority and opportunities
of which must be used as absolutel... DORMAN BRIDGMAN EATON If money was being invented now, it wouldn't be designed to look like cash or credit cards. It w... ADAM DRAPER Yes! Very funny this terrible thing is. A man that is born falls into a dream like a man who falls i... JOSEPH CONRAD Bitcoin is two things which share a name. One, it's a payment system, and two, it's a curren... ERIK VOORHEES The scripting language in Bitcoin is important because it is what makes Bitcoin 'programmable mo... FRED EHRSAM The Australian dollar has been dragged down by the New Zealand dollar. Both currencies may well go t... GREG GIBBS Whereas Asian currencies and major currencies are rallying strongly against the (US) dollar, the Phi... IGNACIO GIMENEZ What used to seem inappropriate has become commonplace. The question is: Is Discovery going to make ... CRAIG AARON Bitcoin and other cryptocurrencies are a form of money that's a stable field that the government... PATRICK M. BYRNE From the currency perspective, there's definitely been a search for yield. The general weakness in t... CRAIG CHAN The Dwolla incident was to be expected. The government will go after sites that it thinks are suppos... ERIK VOORHEES Bitcoin is great as a form of digital money, but its scripting language is too weak for any kind of ... VITALIK BUTERIN Used books,” as if someone else has had the best of them and you get the sere husk, or the lees, a... DEBORAH MEYLER To effectively change children's peer relationships - especially undesirable relationships or reputa... GARY LADD The quest of the Inner Ring will break your hearts unless you break it. But if you break it, a surpr... C.S. LEWIS I have come to the conclusion that charity is only charity when you give goods, services or money wi... JIM PINTO People have been scared off Bitcoin by the fact that you needed to put your money in an unregulated ... BARRY SILBERT [Despite the uncontested praise for the high court's decision, it soon became clear that association... DANIEL K. INOUYE The Internet is open technology, based on packet switching and open systems, and it is totally diffe... GUO LIANG Currencies have been very straight-forward beneficiaries of dollar weakness. JAMES MALCOLM Those countries with large current account deficits, such as the U.S. and Australia, haven't been pe... BOB CUNNEEN The Australian dollar has moved up against all other currencies quite sharply. The market has been w... GREG GIBBS China may censor YouTube. China may censor Twitter. They won't be able to censor Bitcoin. There&... NAVAL RAVIKANT For if any man thinks that he is alone is wise--that in speech, or in mind, he hath no peer--such a ... SOPHOCLES Bitcoin as a globally distributed public ledger - that's the thing I'm most excited about go... GAVIN ANDRESEN I know that David Tennant's Hamlet isn't till July. And lots of people are going to be doing Dr Who ... NEIL GAIMAN The European currencies have been weak against the dollar for three or four years now, and we've had... JACK GREENBERG The shortcomings of traditional practices of peer review become evident when applied to complex comp... THOMAS HALES That is not insignificant. But it isn't enough to dislodge traditional video services such as home v... TODD CHANKO Within my social circle, there is a large group of people who will take bitcoin as legal tender; lik... NAVAL RAVIKANT Activists need to educate themselves about the power of crypto currencies like Bitcoin, invented in ... MAX KEISER Many hold that by floating the dollar, Nixon converted the U.S. currency into pure “fiat money”�... DAVID GRAEBER How high can bitcoin go? The real question is how low can the dollar go? PATRICK M. BYRNE Bitcoin has so much potential, and that's why the believers are trying to facilitate its use as ... ADAM DRAPER Obama's great asset has always been an ability to maintain his air of authority without being ba... TINA BROWN It is not to be used for personal reasons or by individual personalities. MICHEL LU The appreciation of the U.S. dollar will help inflate Asian exporters' overseas sales when converted... BARRO LIAO You can sort of think of it as a tide going out. Gold isn't affected by the tide, because it isn't a... BILL RHODES The traditional techniques used in getting sleep aren’t much effective any longer and our sleep te... PAWAN MISHRA Pools, that are used by people as they are meant to be used, are not making them (casinos) any money... JOE ASHER From now the pound abroad is worth 14 per cent or so less in terms of other currencies. It does not ... HAROLD WILSON I saw Bitcoin as an actual market opportunity: as a trillion-dollar marketplace with long-term poten... ADAM DRAPER That's a term that I really like - 'permissionless innovation' - because anybody who has... BARRY SILBERT Energy and bitcoin work really well together because you can pay out in micro-transaction units. As ... ADAM DRAPER We have a government that purposely counterfeits and debases the currencies, and I believe that the ... RON PAUL The market is shifting back to the view that the U.S. economy is picking up, and we may see further ... ANTJE PRAEFCKE
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