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Author Topic: Patrick Byrne (CEO of Overstock.com) : We put 40 guys in a room ...  (Read 184 times)
Meuh6879
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July 31, 2017, 08:59:25 PM
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Interesting development : http://www.zerohedge.com/news/2017-07-31/patrick-byrne-why-cryptocurrencies-matter

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So, on December 19th, 2013, a journalist interviewed me. Near the end of the interview, she asked, “Are you ever going to accept Bitcoin?” And, at the time I thought in maybe a year and a half I’d get around to doing it, so I said, “Yeah, I hope someday that we'll do that.” She put that in her article, and I started getting Google alerts from newspapers in Thailand, in South Korea, in Africa. I mean, that little mention got picked up all over the world. And I realized, Geez, there’s a subculture around the world who is waiting for this.

 

So on January 1st, 2014, we started working on it. We put 40 guys in a room, sliding pizzas under the door so they could work day and night. And, by January 9th, we got Bitcoin up. As soon as we announced it, it became global news. At that point I realized that the world was ready for this earlier than I had expected it to be.




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Bitcoin and other cryptocurrencies are a form of money that's a stable field that the government can’t destroy and can’t distort.
Because its creation is governed by the laws of mathematics.

It can’t happen any faster or slower than a certain rate, and it all sort of self-adjusts. What that means is -- unlike Janet Yellen, who can sign something and whisk 85 billion new U.S. dollars into existence -- there’s nothing she can sign that will whisk new Bitcoin into existence.

So, cryptocurrencies in general give us a stable medium through which we can communicate our information about values and prices in a way that no government mandarin can distort or usurp.
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