Bitcoin Quotes – from those who understand !

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“There’s really two parts to Bitcoin. There’s Bitcoin the technology, the open distributed ledger, the cryptographic proof of work – a genuinely new way of maintaining records. Then there’s one use of it as currency, the coins.

And because the technology is complicated, and not a lot of people understand it, that tends not to get talked about.

Whereas the currency has these great stories about people buying Lamborghini’s, and it goes up and down, and that obscures the real stories.

But it’s the Technology that’s the exciting thing”

Dave Birch – Director at Consult Hyperion

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EVERY informed person needs to know about Bitcoin because it might be one of the world’s most important developments. As so little is known about it and by so few, here’s a dummy’s guide to the Bitcoin revolution. Bitcoin might revolutionise more than money or economics. It could transform the role and nature of government.

Leon Louw is executive director of the Free Market Foundation

Full Article Here

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Bitcoin 2013: So Much for Deflationary Hoarding

There was something I learned at the conference that warrants its own post before I close out the series.

Among merchants dealing in Bitcoin, many are starting to offer discounts for paying in BTC instead of USD-I heard as much as 40% from some attendees.

While some of this is surely driven just by Bitcoin enthusiasm, it looks like there’s something else here.

If merchants are selling goods denominated in Bitcoin at a discount because they anticipate the currency to continue appreciating, then the markets are dealing with the supposed hoarding problem by just pricing it away.

Who would have guessed? (The answer is not a lot of economists)

Jeff Fong

Jeff graduated from San Jose State University where he studied Politics and Economics. He currently lives in the SF Bay Area and writes on the intersections of politics, economics, and technology with special interests in political decentralization, polycentric legal systems, and Latin American Development.
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