Nick Szabo Quotes

The idea of money being something physical is almost entirely a fiction. Sure, you can go to your ATM and pull out cash. And you can feel cash in your back pocket and have some tangible comfort there - but in reality, the majority of your money is a number on a screen.

Gemini is a spot bitcoin exchange. To use it, you sign up with Gemini.com and undergo the initial standard review process, similar to what you'd encounter at a traditional bank. Once you're through, you can ACH or wire cash to the platform, then begin buying and selling bitcoin.

Bitcoin and other cryptocurrencies are a form of money that's a stable field that the government can't destroy and can't distort. Because its creation is governed by the laws of mathematics. It can't happen any faster or slower than a certain rate, and it all sort of self-adjusts.

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.

My view is that the bitcoin is in its very early days, and it is an artificial currency. But whether it is creating new money, whether it is sustainable, whether it would survive - I have many questions about it.

Twitter was around communication and visualizing what was happening in the world in real-time. Square was allowing everyone to accept the form of payment people have in their pocket today, which is a credit card.

Soon it's all going to be digital anyway. It's all going to be saved on a little coin somewhere.

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?

At its core, bitcoin is a smart currency designed by very forward-thinking engineers. It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions... all good things.

Checks aren't money.

I think bitcoin and other cryptocurrencies are great ideas. They should be allowed to be traded freely and used freely to find their appropriate role in the economy.

Crypto today is a libertarian paradise. If you send your money to the wrong place, it's gone. If you send it to a merchant and don't receive the goods, you have no recourse. This is cash. Treat it as such.

I read a lot of history, and I know that once upon a time, a coin was worth $5 if it had $5 worth of gold in it. Now we have paper that is just backed by fiat... Maybe in the new world, something gets backed by consensus.

Virtual currency, where it's called a bitcoin vs. a U.S. dollar, that's going to be stopped. No government will ever support a virtual currency that goes around borders and doesn't have the same controls. It's not going to happen.

While the traditional banks and credit card companies lock down access to their payments infrastructure to a handful of trusted parties, Bitcoin is open to all.

Humans don't 'need' math-based cryptocurrencies when dealing with other humans. We walk slowly, talk slowly, and buy big things. Credit cards, cash, wires, checks - the world seems fine.

Bitcoin is really a fascinating example of how human beings create value, and is not always rational... tt is not a rational currency in that case.

It is one thing to think gold has some marvelous store of value because man has no way of inventing more gold or getting it very easily, so it has the advantage of rarity. Believe me, man is capable of somehow creating more bitcoin... They tell you there are rules and they can't do it. Don't believe them.

I think there's a need for services that will make it easier for Chinese consumers to spend globally. The Bitcoin network could be an attractive solution.

Bitcoin will make a dent in society when more normal transactions occur that would have occurred with dollars or credit card.

Bitcoin's revolution: an impossible-to-counterfeit digital store of value that can be used as money, that has no sovereign, or central bank involved, that can be sent anywhere instantly at virtually no cost, is irresistible. Anyone who uses it is converted.

We must continue to educate the masses and encourage savings in Bitcoin to truly drain the kleptocratic swamp ruling our financial system.

Banks can send big corporate payments through existing channels or send a small payment through Ripple. They don't have to rip out existing infrastructure; they can use Ripple to make the transactions more profitable or more efficient.

After PayPal, I never thought I would get interested in payments again. But bitcoin is fulfilling PayPal's original vision to create 'the new world currency.'

A distributed ledger is basically a shared database that allows institutions to directly send and receive money in a trustworthy fashion without a middleman. As a result, we have the capacity to connect the world's payment systems for the first time.That's a big deal.