Quote of the Day:

Barry Silbert

  • Bitcoin is one of the most viral concepts I've ever encountered.
  • While I have never been more excited about SecondMarket, I have chosen to move on from day-to-day management of the private company/fund business so that I can focus 100% of my energy on our digital currency business.
  • Once Wall Street starts putting money into Bitcoin - we're talking about hundreds of millions, billions of dollars moving in - it's going to have a pretty dramatic effect on the price.
  • The history of Bitcoin trading is a bubble, a correction, consolidation, and another increase. It's happened four times, and it will happen again.
  • Just like the Internet disrupted the publishing industry, we're going to see Bitcoin micropayments creating some very interesting opportunities for pay-as-you-go, pay-based-on-time online businesses and, frankly, some risks as well to the traditional business model as to how things get sold online.
  • Regulators are going to have to come up with a way to treat Bitcoin that is balanced and thoughtful but also recognize that this is a global phenomenon.
  • People have been scared off Bitcoin by the fact that you needed to put your money in an unregulated overseas platform that has been cut off by banks and scrutinized by the Fed. We are looking to remove the pain points and create a way to invest that is faster and more secure.
  • As the platform and protocol become more ingrained in society, get built into products and services, and basically become more of the mesh of society, just like the Internet, companies and people will need to own Bitcoin to play on its rails.
  • As people want to move money around the world, they're going to be moving in and out of bitcoin quickly, but they're still going to own it for some period of time... and the size of that working capital requirement will grow as the global economy grows.
  • You just can't bifurcate bitcoin currency from the technology. Bitcoin will always need a monetary base.