Brian Armstrong Quotes

PayPal came within an inch of being shut down by regulators when they started. The feds seizing the Dwolla account and stealing the money that is owned by Mt. Gox customers is more proof that Bitcoin is the superior payment system.

Bitcoin is not an actual physical coin, and if computers are shut down, you can't buy or sell them. That's why nothing will ever replace gold and silver coins themselves, and all investors should have them at home or in a safe deposit box.

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?

Our job is to protect bank customers, not banks.

Anybody who has enough information about what's going on in the bitcoin world, you would not buy your bitcoins on Mt. Gox.

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

At Coinbase, our first priority is to ensure that we operate the most secure and compliant digital currency exchange in the world.

I'm much more confident with crypto than with banks or fiat currency because I can actually control it, and the money supply is transparent, stated up front. It makes online shopping a lot easier and a lot safer.

A lot of people don't want to deal with the effort needed to secure your bitcoins. That's why we started to build Gemini, which is a U.S.-based exchange with compliance - it's NASDAQ, E-Trade and DTC built into one.

Mt. Gox was a teachable moment for everyone in the Bitcoin community, and ShapeShift has innovated these problems out of the picture.

You can crank out Bitcoins on a PC, but it's an incredibly computer-intensive task, and it will keep getting harder as the number of Bitcoins in existence increases. Some people have pooled together hundreds of machines to 'mine' Bitcoins. Most folks, however, just buy them on an exchange.

The bitcoin/blockchain protocol has never been compromised. Businesses building applications on top of it run the risk of making mistakes.

I think the whole narrative of blockchain without bitcoin will amount to very little.

Success of bitcoin and the exchanges that deal in it could be interpreted by some to mean the demise of central banks, Wall Street, and the Washington insiders who trade on inside information and market manipulation.

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

Bitcoin is both disruptive from a technology perspective, but there's a tremendous power of social good behind it. So you can both build a cool business or have a great investment return, and there's the promise of potentially improving the remittance industry or banking the unbanked.

Our view is that consumer finance - what people think of as retail finance - that arena is ripe for disruption. Bitcoin is absolutely a core platform and asset format that we are dependent on to build this business.

I don't think it's any sort of stretch of the imagination to say that, very, very realistically, each single bitcoin, if bitcoin becomes popular, will have to be worth at least tens of thousands of dollars.

You have to be really, really careful how you use bitcoin in order to use it privately.

We see bitcoin as potentially the greatest social network of all.

Facebook is like the Internet: a large company and an application. Bitcoin is a protocol for decentralisation, so you could build a decentralised company on top of it, a stock market. It's an Internet of ownership, so it's not quite a direct comparison.

The blockchain concept was pioneered within the context of crypto-currency Bitcoin, but engineers have imagined many other ways for distributed ledger technology to streamline the world. Stock exchanges and big banks, for example, are looking at blockchain-type systems as trading settlement platforms.

Bitcoin is two things which share a name. One, it's a payment system, and two, it's a currency. You use the Bitcoin payment system to send bitcoins as currency from one account holder to another. The transfer is instantaneous, carries no fee, works anywhere in the world, and is private.

Bitcoin is my baby; it's my whole world and my whole life. It's what I was put on this earth to do.

Once people see Bitcoin and how it works, they realise this isn't just a flash in the pan.