Fred Ehrsam Quotes

In the aftermath of the oh-so-predictable crash, the Bitcoin fanatics have begun marshaling out excuse after excuse for why this non-investment investment lost so much of its value so fast. One was that hackers attacked some of the exchanges for Bitcoins and crippled it. Really? A hacker can wreck an entire market?

Look at MIT—the smartest people in the world. They start up 50 companies a year. Only 1 makes it.

I tell founders all the time, 99.9 percent chance of failure.

People say it's a Ponzi scheme, it's a bubble. People really don't want to take it seriously. At some point, that narrative will shift to 'virtual currencies are here to stay.'

There's a lot of glorification of startups and being a founder. People brush the failures under the rug, but that's the worst thing you can do. You kind of have to face it head on.

Assess Bitcoins? All you can do is examine the trading patterns, which do not provide a real analysis of any underlying economic value. The economics of investments are not solely based on supply and demand, and that is all that goes into Bitcoin prices.

Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso.

We're going to try and prove to the market that you can do a legal coin offering. If the SEC doesn't crack down, this party will be amazing - the biggest party in town for a long time. If they do crack down, a lot of people are going to feel a lot of pain.

Something like bitcoin is really important because it is not correlated to the rest of the market.

While 'The Owner's Manual' is not a formula for guaranteed success by any means, we're confident it will help reduce the failure rate of most startups that use our Customer Development process.

In the longterm for Bitcoin, Gox needed to go away.

Failure will happen. It's a normal part of the startup process.

I fully understand that not all of the companies will succeed and that there will be losses along the way, but this is very much the norm with early stage investment.

The actions of hedge fund managers in exercising their fiduciary responsibilities to their investors is not the reason why Chrysler is in jeopardy.

How high can bitcoin go? The real question is how low can the dollar go?

Can we all please - I don't want anybody buying cryptocurrencies, okay? Stop it. Enough already. Or buy Bitcoin, don't buy Ethereum.

When you get into investing, your default stance should be 'No,' because most deals suck. Most deals won't make money. Most companies will fail.

Small businesses are a risky proposition, and most celebrities want a home run.

I once invested in a risky business. Quite a few people warned me not to do so, but I still went ahead and invested the money.

I don't think Bitcoin cares what the Chinese or American politicians do.

Bitcoin is a peer-to-peer, decentralized form of money, as durable as the Internet itself. Remember, the Internet - or DARPA, as it was originally called - was created as a fail-safe, global network with no 'single point of failure.' If one part goes down, data takes another route, and nothing is lost.

The value of Bitcoin is astronomical, but the price goes all over the place as a million buyers and sellers try to figure out what that value is and how likely it is to manifest.

I obviously have been very involved in creating a number of tokens going all the way back to Mastercoin.

In my experience over the past 30 years in business, investment decisions can be slowed or stopped due to unpredictability in laws and regulatory framework or if free trade and competition is hampered or access to capital restricted.

Every large brand has franchisees and stores that don't make it. It's unfortunate, and Cold Stone did everything it could to support its franchisees, but some failure rate is part of the business.