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Author Topic: 2012-08-11 forbes.com 'My Answer To A VC's Bitcoin Question'  (Read 1348 times)
stan.distortion (OP)
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August 11, 2012, 04:08:30 PM
Last edit: October 28, 2015, 03:33:20 PM by stan.distortion
 #1

...

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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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August 12, 2012, 12:12:30 AM
 #2

This gave me chills:

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Definitely not for the faint of heart, those skilled and experienced venture capitalists entering the arena will be playing with fire. This is not a game of targeting an app and throwing seed money at developers located in Silicon Valley or Silicon Alley. Nor is it like catching the social media wave or jumping on the mobile payments bandwagon.

Bitcoin is the quintessential disruptor for not only does it disrupt established primary-level players in the field of payments, like VISA, Mastercard, and PayPal, but it disrupts the very nature of monetary authority.  Bitcoin is disruption within supreme disruption.

Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
matonis
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August 12, 2012, 11:12:18 AM
 #3

FYI, some interesting reader comments appear on the Google+ thread about this article.

https://plus.google.com/u/0/100109831949151899859/posts/HPLNeoN8mB3

Founding Director, Bitcoin Foundation
I also cover the bitcoin economy for Forbes, American Banker, PaymentsSource, and CoinDesk.
elux
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August 12, 2012, 11:47:19 AM
Last edit: August 12, 2012, 12:00:15 PM by elux
 #4

FYI, some interesting reader comments appear on the Google+ thread about this article.

https://plus.google.com/u/0/100109831949151899859/posts/HPLNeoN8mB3

Matonis! Smiley Mind doing a Q&A session sometime? Would love to see an IAMA with you over at reddit.

A few quick questions, if you have the time:

  • Are you a salaried journalist at Forbes, or is it more like they host your blog?
  • Would you still be doing this awesome work if Forbes wasn't interested in hosting it?
  • You were previously the CEO of Hushmail, are you eager to plunge back into the business world?
  • Is this your way of doing research before jumping into the business side of things?
  • What do you do outside of covering e-currency and Bitcoin?

Oh, and thanks for your always passionate, intelligent and interesting write-ups!

Cheers,
-elux
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August 14, 2012, 02:57:30 AM
 #5

Bump because we need to tilt more undecided, dithering VC's to our side of the Bitcon fence.


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matonis
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August 19, 2012, 11:08:39 AM
 #6

FYI, some interesting reader comments appear on the Google+ thread about this article.

https://plus.google.com/u/0/100109831949151899859/posts/HPLNeoN8mB3

Matonis! Smiley Mind doing a Q&A session sometime? Would love to see an IAMA with you over at reddit.

Oh, and thanks for your always passionate, intelligent and interesting write-ups!

Cheers,
-elux

elux, I answered you on PM.

Founding Director, Bitcoin Foundation
I also cover the bitcoin economy for Forbes, American Banker, PaymentsSource, and CoinDesk.
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