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The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order by Paul Vigna
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“gold is valuable as a currency or investment because we believe it is valuable (which is the same reason for valuing money itself). Gold’s value as currency is an abstract social construct.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“Bitcoin is just six years old. It has gone from what was ostensibly one lonely coder’s pet project to a global phenomenon that has sparked the imagination and activism of libertarians, anticorporatists, crypto-anarchists, utopians, entrepreneurs, and VCs. Bitcoin has gone from being essentially worthless to dearly valuable, only to crash and rise again, a wild trading pattern that has few analogues in capital markets. It’s certainly gone from nowhere to somewhere, and where it goes from here may be as messy and chaotic as where it’s been.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“The blockchain keeps everyone honest, and a whole layer of banking bureaucracy is removed, lowering costs.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“At their core, cryptocurrencies are built around the principle of a universal, inviolable ledger, one that is made fully public and is constantly being verified by these high-powered computers, each essentially acting independently of the others.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“For much of history since its beginning in ancient Egypt, the essence of cryptography—which takes its name from the Greek words for “hidden” and “writing”—lay in encoding language to keep a message secret.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“We have an opportunity to reform the financial system, to turn it into the public utility that it’s supposed to be—a level playing field that everyone can indiscriminately use in their bid to get ahead. Let that be the standard for the coming age of cryptocurrency.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“Doge is an Internet cryptocurrency,” the Fox announcer said on national television. “It’s not traded in dollars, but a win here would pay 596,664,147 dogecoins.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“The potential is great for people in the informal economy to exploit the blockchain’s middleman-free way to exchange assets and information and its irrefutable public record that’s free from the control of any one central institution.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“But all those who used their knowledge in a bid to enact social change saw cryptography as a tool to enhance individual privacy and to shift power from big, central institutions to the human beings who live in their orbit.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“leap”
Paul Vigna, Cryptocurrency: How Bitcoin and Digital Money are Challenging the Global Economic Order
“A phrase from Mastercoin’s David Johnston that some in the cryptocurrency community call Johnston’s law could come true: “Everything that can be decentralized will be decentralized.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“Just consider this: control of a currency is one of the most powerful tools a government wields; ask anybody in Ireland, Portugal, Greece, or Cyprus who lived through those countries’ recent financial crises. Bitcoin promises to take at least some of that power away from governments and hand it to people. That alone augurs significant political, cultural, and economic clashes. You”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“President Richard Nixon took the stunning step on August 15, 1971, of taking the dollar off the gold peg. He did so with an executive order that was designed in consultation with just a handful of staffers from the Treasury, the Fed, and the White House. The”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“All might appear calm, as it did at the time of this writing, but make no mistake: our global monetary system still has serious problems. *”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“the entire human populace is now taking charge of the means of production and changing the rules of the game. “They’re making their own freaking currencies, for God’s sake,”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“The challenge for technologists and their venture-capitalist backers is to frame the disruption within a politically digestible narrative of overall progress, says Andreessen Horowitz venture capitalist Chris Dixon. “On the one hand you have the bank person who loses their job, and everyone feels bad about that person, and on the other hand, everyone else saves three percent, which economically can have a huge impact because it means small businesses widen their profit margins. But from a narrative perspective it doesn’t feel as good. There are individual losses and socialized gains.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“Finney’s bitcoin stash is now funding the cryogenic freezing of his body at a facility in Arizona, all in the hope he might one day be revived if and when ALS is eradicated.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order
“someday consumers and businesses won’t hold bitcoins for their account but will unknowingly access the bitcoin network whenever payments are made.”
Paul Vigna, The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order