Bitcoin

“If it even becomes a fraction as trusted as gold, it's gonna be worth many billions of dollars, which it already is, and then if it goes beyond, it becomes at least as trusted as gold, people are gonna run to it, and it's gonna be worth trillions of dollars.”

“I'm hoping less than a decade.”

“Now Bitcoin price is, I think, a little over 2500 dollars.”

“I think all of these blockchains will exist, will coexist. So it's not like Ethereum is going to exist and Bitcoin is going to go away. My personal belief is that Bitcoin has its use case, and so does Ethereum.”

“The reason they will not they will not be successful is because the Bitcoin blockchain now is so big that there are so many miners on the network that there is essentially no incentive for them to switch to a much smaller, newer network.”

“So for developers, if they have the idea, I want to build this and that, it's much, much, much easier to build it on Ethereum, and this is why all those new projects build on Ethereum, and that's where, where the hype is currently coming from.”

“I'm especially not very convinced of the Bitcoin model, so kind of you have this limited supply, and then kind of the whole world is trying to fight around that”

“On just 2014 as you know we on the market they only have a totally 6007 67 totally coin existing on the market it's like ethereum bitcoin litecoin ripple that's only 60 67 but only just one year after 2014 on 2015 The number already growing to, like, I remembe…”

“And I still think it is decentralized, but maybe not as decentralized as many people think, because there's, yeah, there is a couple of dozen of Bitcoin miners who basically control, could control the whole network.”

“And that's what currently, there's a lot of discussions, people are against it, people are for it, and they try to find a consensus, but they are fighting for years now. So there is most likely no consensus ever.”

“When you deal with data, one of the problems that we encountered by doing a use case on top of the Bitcoin blockchain about three years ago was that it didn't scale. We weren't able to store the types of data that we wanted to. We weren't able to query it and …”

“BigchainDB unlocks this potential where across multiple organizations you can have a single source of truth. In other words, You don't need reconciliation anymore because the truth and the provenance of the data is perfect.”

“If you look at something like Bitcoin, it's payments, cryptocurrency in a global network. If you look at Ethereum, it's like business logic in a global network, and it's kicked off all these ICOs and stuff like that. You know, you have business logic in a bloc…”

“It's X thousand dollars in Bitcoin, and it's 20% more if you want to pay me by wire transfer, because I'll have to talk to a bank to figure out what went wrong, because almost always it goes wrong. So I get paid very quickly in cryptocurrencies, so I charge a …”

“I think it's still quite low. I mean, the SEC has made, you know, a pretty definitive decision about this, that the underlying markets for Bitcoin are too unregulated, and therefore they're not going to allow a regulated product. So it's kind of a circular arg…”

“The reality is that this is the best product that exists today. It's not a perfect product, but it's the best that exists today, and the only way to get exposure to an exotic asset that is Bitcoin in a traditional security wrapper, right?”

“Coinbase, Kraken, Poloniex, Poloniex probably being one of the bigger risks out there. You know, these are giant honeypots of Bitcoins, and the problem is once they're gone.”

“So what we did was, when we were planning this, and this was just gleams in our eyes, we raised funding from a set of Silicon Valley and Bitcoin angels. There were a couple of Silicon Valley DCs, but they were almost all angels. We raised three million dollars”

“It's a fork of the software. We copied the Bitcoin software and added our cryptographic improvements. Okay. But it's not a copy. It's not a fork of the Bitcoin blockchain. It's a separate independent blockchain, Zcash blockchain.”

“Once you have that much of a pattern, that much data available to form patterns out of, then it becomes very easy to make that final step and link it back to our identities.”

“And what we did instead was we started with nobody having any of the money, and we just had mining, which was an innovation that we copied from Bitcoin, so that anyone who has a sufficiently powerful computer connected to the internet can participate in buildi…”

“I think that primarily this is happening within the Bitcoin world, in, in which the majority of the developers are funded by entities with interest in the outcome.”

“We have funded BitCart who, an integration into BitCart. They're a service that allows you to buy Amazon gift cards for 15% discount. And after integrating Dash, they actually disabled Bitcoin because Bitcoin transactions were taking a long time. They were cau…”

“Everyone gets security from the fact that they know that they can download the blockchain around themselves. They can audit it themselves. It's accessible. So, it's good that a blockchain is a small machine, but replicated all around the world so that it's not…”

“You see that the block reward is a hefty, like, hundreds of millions of dollars a year, if not a billion at this point, of rewards. And the transaction fees, In comparison, are much smaller. That's why Bitcoin miners don't care about the transaction fee right …”

“We're invested in Digital Currency Group who themselves, they own a ton of Bitcoin and Ethereum, which has been quite valuable for them, and their Bitcoin investment trust has crossed five hundred million in AUM, so that's good, but other than that, no, no dir…”

“When you have these sort of huge public shared ledgers it's very difficult to make changes, and also it's very difficult to serve the huge diversity of use cases between different users.”

“And WordPress, I think, was one of the first large Internet services to add support for accepting Bitcoin for our services. At the time, Bitcoin was about 12 dollars”

“I think that right now we're in some ways a little bit disconnected from the fundamentals because it's become essentially like a new commodity, been a flight to safety, a hedge against, you know, inflation and central banks printing money.”

“For example, this year we activated Segwit, which is a huge improvement to the protocol on Litecoin before it activated on Bitcoin.”

“Bitcoin, it's a kind of inevitable that the fees will go up, because in order to stay decentralized Bitcoin has to kind of err on the side of being decentralized, having smaller blocks and having higher fees than to go to other kind of the other route, which i…”

“Bitcoin is in and still the most decentralized and secure and censorship resistant cryptocurrency out there.”

“So I kept it very similar to Bitcoin where every four years the reward halves. So as, so I, it has enough like runway to succeed. Right. If you make it have to, too soon, then the coin before it succeeds, the rewards will run out.”

“When I saw Bitcoin, I realized it's like a better version of gold. The only difference is there's no physical form of it. And because of that, people complain that there's no intrinsic value, but from what I can tell, it's actually just a better version of gol…”

“So the major difference is, is Litecoin is, is faster than Bitcoin in terms of transaction speed or blocks, block speed. And there's more amount of Litecoin out there. There's four times as many Litecoin units than Bitcoin.”

“Actually, our work, I believe, helped it get activated on Bitcoin to show that Segwit is actually a good upgrade and has none of the fear that people associate with it.”

“Another analogy that people can think of is Bitcoin would be your savings account, and Litecoin would be your checking account. So you would keep for long-term store of value, Bitcoin is definitely well, arguably better, and Litecoin is better for a day-to-day…”

“Back in August there were probably people afraid of the Bitcoin hard fork. Litecoin was a good hedge against that. So People started buying up Litecoin and they kind of snowballed and kind of shot up and then it found it's kind of the right level right now.”

“I mean, for me, it's only if the value goes up. Like, I have an investment in Bitcoin and Litecoin, and if the value goes up, I make money. And that's true for most people.”

“If I was 20 years old today, I would go all in on crypto and blockchain, right? So rather than like, should I do a startup? Should I do this crypto thing? Should I do this? I would, you know, focus all on the blockchain. So if you're 20, I would literally go r…”

“But I think what we found is that in this part of the market, there really hasn't been a killer application of those technologies yet.”

“So the run, so the revenues available to miners to all the miners is, is 25 to thirty million dollars per day of revenue, which is what the miners compete for.”

“So then it's a similar number for Ethereum as well.”

“Sorry, just to be clear we don't mine Bitcoin. Okay, we mine right now our facilities are all GPU based, so we mine Ethereum. So we do have one of our facilities the one that will be completed in September will be an ASIC facility. So at that point in time, we…”

“I think that from now where we're recording this in April of 2020, I think that by the end of 2021, we'll see Bitcoin hit a 100,000 dollar price point”

“What you see is a lot of these stock to flow models and co-integration models, et cetera, that are used in gold. Apply to Bitcoin and are actually more accurate in Bitcoin because one side of the equation is transparently known with 100% certainty and all you …”

“In times of uncertainty, they want dollars. And so what ends up occurring is all of those other assets end up Going to close to a correlation of one. So they all start going down. And we saw that with Bitcoin, gold, you know, treasuries equities, real estate, …”

“What you're going to have is you're going to say, you're going to have these folks saying, I need to hedge against the, I need to hedge against our current system because we are in a system that they see completely falling apart. And so they need to, what they…”

“When you get a ton of like stimulus, well, the equity market's going to pump. It's not just, I, you know, I think Bitcoin's going to go up. I think gold's going to go up, but I think the equity market's going to absolutely rip.”

“So what's about to happen in 30 days is the Bitcoin halvening will programmatically cut the daily incoming supply of Bitcoin from 1800 To 900.”

“If the, what if four hundred million continues to pump into the system, then should double the price.”

“Plus you've got a massive transference of wealth of trillions of dollars going from old folks to millennials. And we know one thing, which is millennials love Bitcoin.”

“My price target for the next two years at a minimum is 20,000 dollars. That's at the low end. At the high end, that's a 100,000 dollars.”

“It's going to go straight through that number. It's probably going to go to two to 300,000.”

“The last is the highest probability outcome.”

“Bitcoin is deflationary simply because of the fact that people are going to lose their private keys. That's what's going to make it deflationary.”

“The stock market went straight up, but relative to gold, and in my opinion, relative to Bitcoin, those stocks are going to underperform.”

“So like, I would tell you in the 2017 timeframe, you had an enormous amount of the hashing power coming out of China. Today, I would argue you have a, you've had a massive shift of hashing power come into the North America region.”

“Like I own cryptocurrency, but I only own one and it's Bitcoin. I don't literally, I literally don't own any other crypto coin other than Bitcoin.”

“I'm a huge fan of Bitcoin, a huge fan of Bitcoin, because I think that it'll move to a reserve status that other currencies will be pegged to eventually.”

“And if one does, Or if one starts accumulating behind the scenes, they all have to. It moves really, it starts to move really fast.”

“10%.”

“I think it would be pegged to a digital, I think it would be pegged to Bitcoin. I think that's what, I think that's the most logical thing right now. And every government will say, no, peg it to my digital currency. But it doesn't, but whether it's a digital o…”

“As much as I believe in it, I don't want it to happen as fast as is, is it like likely it's happening because it means the world goes through a disorderly unwind. And that doesn't look good for even people with Bitcoin.”

“So I personally, my belief is that everyone in the top 10 maybe bar ETH and Bitcoin will be switched out in the next 12 to 24 months.”

“Most of our thesis and our focus on the reason we're really long BSV and not other blockchains comes from the technology of Bitcoin and is, doesn't have to do with Craig Wright, but yes, you are correct in that I do think that Craig Wright is very likely to be…”

“BTC, for example, the popular version of Bitcoin, Only allows its block size to be one megabyte because they want to make sure that everyone can kind of run the node software on their phone or computer in the event that government shut down all the professiona…”

“We paid out a million in Bitcoin last year.”