“First, development of the open source community … a geeky, nerdy, crypto-libertarian thing, 2009 to 2010. Second—a vice phase. Silk Road, drug trafficking. Gun running. 2010 to 2011. Third phase, speculation, trading—we are getting to the end of that now—2013, 2014. Next phase is the transactional phase—real merchants accepting bitcoin. And the final phase is the phase of programmable money—when money can move via a programmable infrastructure.” Programmable money.
