Top quotes about blockchain
Bitcoin and its disruptive DNA platform infrastructure Blockchain are still in their inception but are now making the biggest revolution in the finance industry probably in the last hundreds of years! Average leaders and investors are still skeptical but big investors are putting their money on it! Intelligenthq has gathered a collection of powerful quotes from top industry experts, investors, Nobel Prize, CEOs, Economists, technology drivers about the subject. These quotes and reflections help explain the evolution of the Bitcoin and Blockchain phenomenon and its power for innovation.
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Quotes and Sayings About Bitcoin
This op-ed was originally published by The Washington Post. Bitcoin, the original cryptocurrency, was launched in The surge in their prices earlier this year minted tens of thousands of cryptocurrency millionaires—at least on paper. Cryptocurrencies might turn out to be a massive speculative bubble that ends up hurting many naive investors. Indeed, many cryptocurrency fortunes have already evaporated with the recent plunge in prices. But whatever their ultimate fate, the ingenious technological innovations underpinning them will transform the nature of money and finance.
Cryptocurrencies such as bitcoin and Ethereum were designed as a way to make payments without relying on traditional modes such as currency notes, debit cards, credit cards or checks.
In fact, it has become very expensive and slow to conduct transactions using cryptocurrencies. Ethereum, the second-largest cryptocurrency, processes transactions slightly faster but also has high fees. Moreover, wild swings in the values of most cryptocurrencies make them unreliable as a means of payment. In late April, the price of a Dogecoin was 20 cents. It tripled in the next two weeks and then fell to half that peak value ten days later. Even on a calmer, more typical day, the value of a major cryptocurrency such as Ethereum might fluctuate by 10 percent or more, making it too unstable to be practical.
Recently, Elon Musk announced that Tesla would no longer accept bitcoin as a form of payment, reversing a policy it had implemented earlier in the year. The value of a single coin almost immediately plummeted. A Chinese crackdown on cryptocurrencies then briefly took another one-third off the price in just one day.
Investment funds in bitcoin and other cryptocurrencies have proliferated. Even major banks such as Goldman Sachs and Morgan Stanley are getting into the game. And you would certainly have made a fantastic return if you had bought any of the major cryptocurrencies last year.
But beware. Part of the allure seems to be that, like gold, the supply of most cryptocurrencies is tightly controlled by the computer programs that manage them. For instance, about This is a cap set by the computer program that manages the supply of the currency. Scarcity by itself is not, however, enough to create value—there has to be demand.
Since cryptocurrencies cannot easily be used to make most payments and have no other intrinsic uses, the only reason they have value is because many people seem to think they are good investments. If that changed, their value could quickly drop to nothing. Bitcoin is now seen as the granddaddy of cryptocurrencies, and investors or speculators, more precisely are piling into other cryptocurrencies such as Dogecoin. And there is no clear constraint on the supply of these coins, so their prices surge or crash on random events such as tweets from Musk.
For all its flaws, however, bitcoin remains dominant : It accounts for nearly half of the total value of all cryptocurrencies. Cryptocurrencies are not backed by anything other than the faith of the people who own them. The dollar, by contrast, is backed by the U. Investors still trust the dollar, even in hard times. As one illustration, domestic and foreign investors continue to eagerly snap up trillions of dollars in U.
Treasury securities even at low interest rates. New cryptocurrencies called stablecoins aim to have stable values and therefore make it easier to conduct digital payments. Facebook plans to issue its own cryptocurrency, called Diem , that will be backed one for one with U.
But the value of stablecoins comes precisely from their backing by government-issued currencies. So while dollars might become less important in making payments, the primacy of the U. Cryptocurrencies may or may not persevere as speculative investment vehicles, but they are triggering transformative changes to money and finance. As the technology matures, stablecoins will hasten the ascendance of digital payments, ushering out paper currency.
The prospect of competition from such private currencies has prodded central banks around the world to design digital versions of their currencies. The Bahamas has already rolled out a central bank digital currency, while countries like China, Japan and Sweden are conducting experiments with their own official digital money.
The dollar bills in your wallet—if you still have any—could soon become relics. Even transactions such as buying a car or a house could soon be managed through computer programs run on cryptocurrency platforms. Digital tokens representing money and other assets could ease electronic transactions that involve transfers of assets and payments, often without trusted third parties such as real estate settlement attorneys.
Governments will still be needed to enforce contractual obligations and property rights, but software could someday take the place of other intermediaries, including bankers, accountants and lawyers. Report Foresight Africa Thursday, January 20, Post was not sent - check your email addresses!
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27 Bitcoin & Blockchain Quotes To Scintillate You In 2020
Twitter wisdom in your inbox. Never miss the the top tweets from Naval Ravikant with our email digest. Cryptocurrencies have value precisely due to decentralization. Blockchains are now sucking in top-tier Silicon Valley tech talent faster than any boom since the Internet.
Producer, director, actor and politician Kamal Haasan is set to become the first Indian celebrity to have his own digital avatar in a metaverse. Choose your reason below and click on the Report button. This will alert our moderators to take action. Nifty 17, Policy Bazaar Market Watch. Budget ET NOW.
Jack Ma's Alibaba has launched a blockchain-based payment service
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Top 25 Quotes from Don Tapscott and Alex Tapscott’s Blockchain Revolution
Will a central bank digital currency come to be? And if so, what sort of risk does this pose to crypto investors? It's been a great year for leading cryptocurrencies, but new regulatory concerns may be on the horizon. A series of critical upgrades will ensure Ethereum stays well in front of bears' worst fears. The cryptocurrency got off to a good start today before giving up some gains midday, but in general has been moving higher recently.
11 Best Blockchain Quotes: Know this Amazing Technology
An award-winning team of journalists, designers, and videographers who tell brand stories through Fast Company's distinctive lens. The future of innovation and technology in government for the greater good. Leaders who are shaping the future of business in creative ways. New workplaces, new food sources, new medicine--even an entirely new economic system. But it adds an unusual villain to the list: blockchain domains. Storing domain names on a blockchain can make them difficult to shut down or even trace to their owners. It also leaves them inaccessible without special software or settings.
Naval Ravikant quotes on cryptocurrency / blockchain
We have created a collection of some of the best top 10 blockchain quotes so you can read and share anytime with your friends and family. Blockchain infiltration will be met with resistance because it is an extreme change. Quotes by William Mougayar.
Crypto: A New Asset Class?
Before he disappeared in , he shared his wisdom and knowledge on Bitcoin in the BitcoinTalkForum that can still be found today. Moreover, he has had several private email conversations with members of the Bitcoin community. This quote was written into the genesis block of the Bitcoin blockchain and has remained there since the cryptocurrency was created. Bitcoin was established just after the Great Financial Crisis in to give people control over their own money. Nakamoto was busy and preferred spending his time writing code that would improve the Bitcoin network.
Interesting Quotes About Blockchain Technology and Bitcoin (Volume 1)
Interest in cryptocurrency, a form of digital currency, is growing steadily in Africa. Some economists say it is a disruptive innovation that will blossom on the continent. Cryptocurrency is not bound by geography because it is internet based; its transactions are stored in a database called blockchain, which is a group of connected computers that record transactions in a ledger in real time. Created in by a person or people with the alias Satoshi Nakamoto, investors hope Bitcoin becomes the new mode of financial transaction in the digital age. It is no surprise that some of these countries are among the main Bitcoin economies in Africa. The BBC adds that cryptocurrency is gaining ground in Uganda.
Trust Machine: The Story of Blockchain
Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly. Clearing houses are a wonderful invention, but if you have a public ledger that is trusted, you can evolve back to a bilateral trading world but proceed with instantaneous settlement. Why not settle in minutes?