bitcoin is a most popular and biggest market-cap cryptocurrency.
bitcoin, the virtual currency, is becoming more and more accepted. It's typically used for small transactions -- buying things online, participating in peer-to-peer networks like Tor or VPNs, or even sending money to friends overseas. There are many benefits of using bitcoin that aren't mentioned here such as the low transaction fees and the ability to purchase things with it even if you don't have access to an online bank account.
what is bitcoin ?
here i share more than 60 thoughtful quotes related to bitcoin and other cryptocurrency that explain " what is bitcoin"
1.
"Bitcoin is both a payment system and a currency."
2.
"Bitcoin is created electronically and exchanged between users without passing by a financial intermediary."
3.
"One of the main reasons for the growing popularity of Bitcoin among stores and consumers is that it reduces transaction costs
4.
"Bitcoin is a novel solution to a long-standing computer-science prob. That’s what enables its transformational nature.
5.
"Bitcoin is a Network, not a Coin."
6.
"Bitcoin is a protocol, not a currency. Currency is just the first app."
7.
"Bitcoin is money without borders."
8.
"Bitcoin gives us the ability to transmit value globally, instantly, securely, and is far more valuable than email."
9.
"Bitcoin is an experiment in the separation of money and state. You’ll be surprised how many will support that."
10.
"Bitcoin is an invention that allows distributed consensus over a shared asset ledger without counter-party risk."
11.
"You do not need to spend $1000 to buy a whole bitcoin. You can easily purchase as little as $1 worth, or one milli-bitcoin. Not expensive"
12.
"Bitcoin will have a successor but only after fiat has been long gone and buried."
13.
"Why would anyone trust nerd money vs. central bank money? Nerds brought you the Internet. Banks brought you the Great Depression."
14.
"People who say that bitcoin is not or cannot become a “valid currency” are ignoring the simple, demonstrable fact that it already is."
15.
"The most interesting disruption comes when a problem is not solved but rather made irrelevant. If Bitcoin works it could do that to payments"
16.
"Bitcoin won’t “destroy” banks. Like the Internet did with telcos and media, It will simply make banks less relevant and less powerful"
17.
"Bitcoin is just a testing ground for something else: The digitization of ‘hard’ currency like dollars."
18.
"There are thousands of pages written about bitcoin. None of them spell it BitCoin. Therefore you have read none of them if you spell it thus"
19.
"Bitcoin allows the free market of ideas being flooded with innovation without the need to ask for permission"
20.
"Banks warn of dangers of bitcoin because people already know of the dangers of banks and are looking for choices."
21.
"The bitcoin community may be a bunch of weirdo geeks to the media in general, but to me, it is MY bunch of weirdos"
22.
"If you want to understand Bitcoin, read the original paper instead of other people’s interpretations of it http://bitcoin.org/bitcoin.pdf"
23.
"Bitcoin is not “unregulated”. It is regulated by algorithm instead of being regulated by government bureaucracies. Un-corrupted."
24.
"You are guaranteed to lose your bitcoin investment if you sell at the bottom of a dip. If you hold, you have a chance for recovery."
25.
"Unless something breaks in the bitcoin code that can’t be fixed the fundamentals are no different at $1000 than they were at $1."
26.
"On open networks, like the Internet, innovation occurs at the edge without permission. Bitcoin does that with online financial innovation."
27.
"Bitcoin’s top innovations are concentrated in the protocol layers above bitcoin, allowing other “apps” and currencies to run on it"
28.
"The Internet of Money, bitcoin, is releasing 50 yrs. of pent up innovation in finance, because it offers innovation without permission."
29.
"In many countries around the world, if a government bans bitcoin it will instantly be more credible as an alternative choice."
30.
"Do you want bitcoin to succeed? Tell two or three people about it, every day, help them get $10 each. Adoption is only thing that matters."
31.
"When the regulators come to regulate Bitcoin for your own good, your reply should be ‘Fuck Off!’"
32.
"Bitcoin will survive the banking regulators and oppressive governments. The converse however is unlikely."
33.
"Almost all the risks to bitcoin are now internal. The external risks now only affect the price, not the survival of bitcoin."
34.
"Bitcoin is a company, like trigonometry is. It’s a scientific invention, now part of our culture, unstoppable."
35.
"If bitcoin survives, without major good news or major bug, just steady adoption, we’re somewhere between 10k and 100k."
36.
"Price is a leading indicator for media attention of Bitcoin and eventual adoption by users."
37.
"The vast majority of western societies has no clue what bitcoin is, yet. As they discover it and adopt it, we will keep growing."
38.
"Mining provides security for the Bitcoin network, at much lower cost per transaction than other payment networks."
39.
"The Internet at first was controversial, geeky and very strongly resisted by governments and telcos. Repeating history with bitcoin"
40.
"Countries rejecting bitcoin reminds me of the time when countries were resisting the Internet."
41.
"Don’t let the price of bitcoin distract you from the network/protocol."
42.
"Most people are yet to understand how disruptive the Bitcoin technology really is."
43.
"First you’re curious and jealous of people having it, then you have it, and then you want more. Bitcoin is just like sex."
44.
"The Internet giveth us bitcoin, but bitcoin will make the Internet 100x more valuable in the next 5 years."
45.
"I can spend hours trying to explain Skype to someone, or they can video their mom and see her smile. Don’t try to learn bitcoin, USE it."
46.
"Bitcoin’s success is owed to creativity and innovation. It has nothing to do with the government’s endorsement"
47.
"The bitcoin price only follows adoption and purchasing power. We are still in the very very beginning."
48.
"Those who make the mistake of thinking bitcoin is expensive today are going to miss two orders of magnitude in next year."
49.
"Because bitcoin is a protocol for transmitting value. It will be bigger than Internet and will accelerate Internet."
50.
"Bitcoin is way to geeky to ever work for mainstream use. Just like the Internet was in 1991. Oh, wait."
51.
"Bitcoin scales from nano-payments to giga-payments on a single network."
52.
"Bitcoin is global, decentralized and unstoppable. Let govt try, it will be hilarious to watch."
53.
"If you want to read something intelligent about bitcoin, read the source code."
54.
"Previously unsolved problem in computer science is to transfer info without duplication. Bitcoin’s solution enforces digital scarcity."
55.
"The identity of bitcoin’s creator is entirely irrelevant. The invention and new science stands independently without influence"
56.
"Keep focused on the narrative which will become bitcoin’s destiny: It is not a currency, it is an invention, a protocol, a technology."
57.
"Napster paved the way for BitTorrent, iTunes and Spotify; Bitcoin will do same for digital money"
58.
"Eventually, banks will embrace bitcoin, just like telcos found a way to make money on Internet."
59.
"The first years on the Internet, we got access DESPITE telecom companies, not through them. Now, bitcoin works despite banks, not with them"
60.
"Credit cards are a “pull” model: You surrender the keys to your money, and they pull money from you. Bitcoin is a push model; more secure."
61.
"The last consumer focused innovation in financial services was credit cards, in the 1950s. There is no industry more ripe for disruption."
62.
"The thing about bitcoin being a Ponzi Scheme is that there is no Ponzi and there is no scheme."
63.
"Bitcoin doesn’t just disrupt money. It also disrupts the models of modern corporations, macro-economics, nation-states and the Internet"
64.
"Bitcoin’s distributed asset ledger is the most important Computer Science invention of the century."
