Uday Kotak Quotes

Our basic thesis for bitcoin is that it is better than gold.

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

In April 2013, Nathaniel Popper of 'The New York Times' reported on Bitcoin in an article titled, 'Digital Money is Gaining Champions in the Real World'.

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.

If you like gold, there are many reasons you should like Bitcoin.

I think Bitcoin really feels empowering in a sense.

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.

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.

Price is the least interesting thing about bitcoin.

As money, Bitcoin achieves two objectives; it's both a unit of transaction as well as being a store of value. The U.S. dollar, for example, is a unit of transaction, but it is not a store of value.

Bitcoin will experience many bubbles along its way to improving the lives of everyone on the planet. I'm not concerned with the short-term price fluctuations.

Bitcoins can be traded or used for purchases, but only with those sellers who will accept them. Because it is a system independent of external meddling, there can be no sudden devaluation of Bitcoins through the actions of governments.

There is no more reason to believe that Bitcoin will stand the test of time than that governments will protect the value of government-created money, although Bitcoin is newer, and we always look at babies with hope.

In truth, the best Bitcoin can hope for is to be a second-rate version of gold, if that.

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.

Bitcoin woke us all up to a new way to pay, and culturally, I think a much larger percentage of us have become accustomed to the idea that money no longer comes with the friction it once had.

You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can.

In January 2013, one could buy a Bitcoin for about $13. By late November, one Bitcoin would have set a buyer back over $1100.

In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the financial press was filled with reportage on Bitcoin and its dramatic price increase.

I think long-term, Bitcoin is a currency of the Internet. So, even if humans don't use it, routers will use it. Web browsers will use it. Web servers will use it.

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.

People think about Bitcoin incorrectly. They think about it as currency or about gold or hoarding, speculation, about how much money do you make. When really, what it is is an API for programmable cash transactions.

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.

I get very worried that people that are buying bitcoins don't really understand what they're participating in other than the headline stories that it keeps going higher and 'I want to make sure I don't miss this opportunity to make some money.'

Bitcoin will hit thousands of dollars per coin, because it's worth at least that much, or it's worth zero.