Cryptocurrencies

“The cost of insuring vaulting gold is maybe, in India, I know the price is, maybe the actual cost is about 30 bips. At scale, it would be even lower. That is lower than managing cryptocurrencies in a way.”

“It's so important because it's the best performing asset class on the planet. It's volatile in the short term, but long term, it performs better than anything else.”

“Cash is universal barter. Cash can be traded for anything, but now anything can be traded for anything, which means there's less need for cash, right? And so all these countries will wake up one day and they'll find, wait a second, just like the newspapers, we…”

“But like, but I am sort of a, probably a toxic maxi in the sense of like, I don't think you can have 10 of those. I think you kind of have to have everybody decide this is the one and you can't sort of fragment off into 50 others.”

“The way we dealt with cryptocurrencies, the way we dealt with gaming, these guys were making money here by change in law, the reporting requirement, compliance requirements, etc. They can no longer sort of increase Or grow their businesses in the country. So t…”

“Yeah, I mean, I think NFTs are gonna come back in a big way. I, I've said, and I think still you know, NFTs have a good chance to be you know, bigger than cryptocurrencies in terms of mainstream adoption. And the reason is because people, I think more people i…”

“In particular, in this case, you know, you could argue that Celsius or Terra Luna are actually much better, much bigger challenges to the concept of cryptocurrencies than this. This is just somebody who stole it. This doesn't invalidate the concept of a thing.…”

“I think fiat currencies are the problem. I think cryptocurrencies are the solution for it. And that's why I wanted to build something with a cryptocurrency based wallet in it, because I thought that it would enable instantly anyone from anywhere to pay anyone …”

“Look, I think that there's a wide form of, as you know, and those listening will know, there's a wide range of cryptocurrencies, crypto assets. Many of them will not survive.”

“I mean, there's a massive generational transfer of wealth that's happening right now, and the incumbents don't like it. Insiders don't love the fact that anybody can get onto these on rails and operate in this system, but it's such a cool thing.”

“Cryptocurrencies for want of a better term are not fundamentally about replacing gold and fiat currency and being a store medium of storage. That's just sort of the one of the early and obvious applications. What you're really seeing here is a way to run an op…”

“All the DeFi protocols about all the financial services have been created for DeFi protocols are primarily to support the trading of other cryptocurrencies that also have no social utility.”

“So we now live in a world where roughly 10% of Americans own cryptocurrencies.”

“Markets move because there's some underlying factor that's being priced in. And I think that underlying factor is the realization that this is part of the future and they're just wildly underpriced for that. And so that's why we're seeing kind of a repricing m…”

“In 10 years, you have a high degree of confidence that almost everyone on the planet will have digital wallet on their phone. And they'll view it as being as secure as Citibank or anything. And they'll be able to move money between currencies, both government …”

“As the founders look back on the history of cryptocurrencies and blockchain technology, we've made a lot of technical progress, but the progress in terms of user experience for users, and most importantly, developers, hasn't really caught up to the technologic…”

“The way that taxes work for cryptocurrencies make it very arduous for businesses to work with cryptocurrencies because every time cryptocurrencies change hands, it's a taxable event. It must be recorded. Gains and losses must be calculated. The accounting syst…”

“And the other thing that cryptocurrencies are doing is they're giving you the data, the rights to your data back by allowing you to control who gets to see it. And by allowing you to control who owns the data in the first place.”

“Cryptocurrencies and the blockchain and smart contracts more generally give the tools to create all of these. Payment rails, inexpensive remittances, credit histories, escrow, et cetera, for the billions of underbanked.”

“And the second limitation, and this is subtler, but I think it's even more important, is that all they can be is a proxy to fiat. And I think this misunderstands the true potentiality of cryptocurrencies.”

“I mean, they're the best beta testers of new technologies in many ways. And that's been true, not just of cryptocurrencies, right? That's been true of all kinds of things. If you think of cell phones, if you think of email, social media, the internet, and just…”

“So in March alone, there have been about 15 launches of new cryptocurrencies.”

“It's very likely that an average person who's not spending all day on these things will lose their money, so if you're listening to this, we are definitely not recommending it.”

“I think, you know, it's not just governments that could create untrustable cryptocurrency. I think there are a lot of untrustable cryptocurrencies out there right now. Obviously there are over 1600, I think maybe even more, but at 1.1600, and I certainly would…”

“There was a study I saw and I can't cite you the source, but it said that one out of three And this is in the United States. One out of three millennials would rather own Bitcoin or cryptocurrencies than stocks.”

“There will not be 1600 cryptocurrencies out there. There will be one or two.”

“I don't think there would only be a couple cryptocurrencies that succeed. I do agree with you that it will not be 1600. I think you might see, I don't want to put a number on it, but I think you'll see several emerge as ones that are going to stick around.”

“I think what's happening is that cryptocurrencies are this massive platform shift in the world. They represent a change in a lot of different dimensions and everything from how we build companies to business models to, you know, I think this is software eating…”

“If you think about all the technologies that are in development today, like AR, VR, genomics, and things like CRISPR, if you think about blockchain and cryptocurrencies, these technologies are also being developed on and approaching their iPhone moment, so to …”

“When you think Internet bubble kind of burst in March, 2000 at the time, it was about a four trillion dollar market cap. With cryptocurrencies, we're now currently at about five hundred billion.”

“I think it's gonna be in countries where people don't have bank accounts primarily, and they now need a method of actually storing their own funds or countries where the currency is just getting inflated away, and so the currency is not valuable.”

“Polychain is an investment manager, and we manage a fund that invests exclusively in blockchain-based assets. Another word for this is, you know, cryptocurrencies. So we don't invest in the equity of startups. We don't invest in public equities. We hold no sto…”

“Now I got involved with cryptocurrencies and Bitcoin early, and then I thought I was Too early, and maybe it wasn't going to happen, and now I'm completely drinking the Kool-Aid, and I'm completely enthralled by just the potential of cryptocurrencies to get us…”

“We have an explicit governance system that allows the network to actually vote on changes as opposed to kind of having Reddit debates about what should happen next that can rage on for quite some time with other cryptocurrencies.”

“The second major area is we're self-funded. Most other cryptocurrencies, and certainly all the first generation ones all rely on donations of developers' time donations of server infrastructure in order to run the network, and so on, and the only thing that's …”

“Due to the crisis in Greece when my mother's retirement was at risk in the Greek banks you know, cryptos, actually cryptocurrencies saved the day for her because they allowed her to protect her retirement, which was cash-based, from failing Greek banks and cur…”

“I earn the majority of my income directly in cryptocurrencies and have done so for three years. So I don't buy them. I don't invest in them.”

“I think in the future, that will be the same for cryptocurrencies, where in the long term, the community doesn't matter as much. It's more about just easy being able to easily use that currency.”

“Cryptocurrencies and bitcoins is the future, as to when that transaction will be like an IP transaction. So I look at bitcoins and cryptocurrencies as the equivalent of IP IP protocol for the financial services transaction. So that's why I say it's very bright…”