I just spent the last 8 months working on the second edition of 'Mastering Bitcoin,' and I couldn't even scratch the surface of all the innovation that is happening in BTC.
Regulators are going to have to come up with a way to treat Bitcoin that is balanced and thoughtful but also recognize that this is a global phenomenon.
Taxes have been complicated. Every single time I spend a Bitcoin, it's a taxable event. It's like I bought and sold an asset. It counts as an investment, with a short- or long-term capital gain or loss.
I saw Bitcoin as an actual market opportunity: as a trillion-dollar marketplace with long-term potential.
I think the technology will get bigger and the price of Bitcoin will go up, so I'm speculating to increase my purchasing power. But I don't intend to sell the Bitcoin. I intend to hold it until there's a day where I can just use Bitcoin completely.
The emergence of open Internet protocols for value exchange, today led by the global adoption of Bitcoin's blockchain, paves the way for value to move as freely as information and data move on the Internet today.
We need to come up with use cases for this technology that drive clear benefits for individuals and institutions - these are our customers. Too often we see bitcoin and blockchain technologies as solutions in search of a problem. We don't just need these systems to be technically better than the alternatives - we need them to be more user-friendly.
The world is a global economy. I thought, 'It's a bummer we don't have a unifying currency.' Then I saw Bitcoin had already had a crash and had the resistance to recover. The community was strong enough to push it through again. That's really exciting.
We want enough people adopting Bitcoin for a robust infrastructure. It's an act of patriotism. It gives the country a robust parallel system.
The scripting language in Bitcoin is important because it is what makes Bitcoin 'programmable money'. Within each Bitcoin transaction is the ability to write a little program.
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.
If money was being invented now, it wouldn't be designed to look like cash or credit cards. It would look more like Bitcoin.
The big exchanges that hold customer deposits are a big target for hackers, and unfortunately, most bitcoin exchanges store user funds.
Bitcoin and the block chain enables a whole new way to incentivize and transact, so change the world with this new tool. Create and build! Surprise us with an idea we have never seen before.
Silicon Valley is a great place for Bitcoin, since everyone understands computers, and there are lots of libertarians running around.