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Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
Bernanke never said that "Bitcoin may hold long-term promise", and other bitcoin quotes corrected with sources
During the course of my research, I made a collection of Bitcoin quotes that I could use in different publications. Many "famous people bitcoin quotes" are false, misquoted and without sources. Using those quotes is bad for everyone. The first, and most horribly fasle quote, is Bernanke's famous quote: "Bitoin may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.” 1) The quote is actually from Alan Blinder 2) The quote is from 1995 3) The quote has nothing to do with Bitcoin This is the full quote: Dear Senators: Thank you for your recent inquiry regarding virtual currencies. As you noted, virtual currencies have been receiving increased attention from U.S. authorities over the past several months. Historically, virtual currencies have been viewed as a form of “electronic money” or area of payment system technology that has been evolving over the past 20 years. Over time, these types of innovations have received attention from Congress as well as U.S. regulators. For example, in 1995, the U.S. House of Representatives held hearings on “the future of money” at which early versions of virtual currencies and other innovations were discussed. Vice Chairman Alan Blinder’s testimony at that time made the key point that while these types of innovations may pose risks related to law enforcement and supervisory matters, there are also areas in which they may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system. Read more: http://www.businessinsider.com/ben-bernanke-on-bitcoin-2013-11#ixzz2qgGXCYKk I know some of you already know that this quote is badly cited, but believe me it is being used by every journalist and "expert" out there (google Bernanke bitcoin quote, you'll se that I'm right). EDIT: Bernanke is not paraphrasing Blinder in order to support a positive / negative opinion of Bitcoin. He quotes Blinder in the introduction of his letter as a way to show that monetary innovations was already a topic of interest back in 1995 There was another post with Bitcoin quotes from famous people here: http://www.reddit.com/Bitcoin/comments/1ohza2/quotes_about_bitcoin_from_famous_people/ Many of these quotes were misquoted, false or without references. I took the liberty to create a legit quotes list with sources: "I think Bitcoin is a techno tour de force." - Bill Gates, Founder of Microsoft Fox News, May 6, 2013 Original source: http://video.foxbusiness.com/v/2359385547001/ “I gave a talk back in November of ‘99 on […] how encrypted money was going to change the world. I do think bitcoin is the first one of these that has the potential to do something like that. - Peter Thiel, Co-Founder of Paypal. Secondary source: http://www.appstorechronicle.com/2013/11/exclusive-peter-thiel-bitcoin.html#ixzz2pdIR3w8w “It’s fascinating to watch what’s happened with Bitcoin. Congress has just been spending a week looking at it, they might bring some regulations, but I just hope that it will not stifle innovations of new tech novalties like Bitcoin” Sir Richard Branson, Novembre 22th 2013 Original source: http://video.cnbc.com/gallery/?play=1&video=3000220731 “I think the fact that within the Bitcoin universe an algorithm replaces the functions of [the government] … is actually pretty cool” Al Gore, former US vice president and winner of the Nobel Peace prize Secondary source: http://www.pymnts.com/briefing-room/commerce-3-0/the-innovation-project-2013/al-gore-speaks-on-mobile-money-and-the-global-mind/ “Virtual currency systems, so long as they comply with applicable anti money-laundering and money transmission laws and regulations are not inherently illegal and they can be appealing to consumers because they can provide cheap, efficient and convenient means to transfer currency.” Mythili Raman of the Department of Justice Criminal Division Original source: http://online.wsj.com/article/65405E2A-CD8B-4B70-B8DD-9E7A19D05A61.html#!65405E2A-CD8B-4B70-B8DD-9E7A19D05A61 “Bitcoin is the most important invention in the history of the world since the internet. Roger Ver, CEO of MemoryDealers.com Original source: http://rogerver.com “Three eras of currency: Commodity based, e.g. Gold., Politically based, e.g. Dollar, Math based, e.g. Bitcoin” Chris Dixon, Personal investor in technology startups Original source: http://nonchalantrepreneur.com/post/46485623457/three-eras-of-currency "Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative.” - Nassim Nicholas Taleb, Ph.D statistician, author, and advisor to the IMF Original source: http://nassimtaleb.org/tag/bitcoin/ "Bitcoin is going to be a big player in the future of the exchange of goods and services" Jennifer Shasky Calvery, the director of the Treasury Department’s Financial Crimes Enforcement Network Original source: http://www.c-spanvideo.org/program/DigitalCu “The decision to bring virtual currency within the scope of our regulatory framework should be viewed by those who respect and obey the basic rule of law as a positive development for this sector. It recognizes the innovation virtual currencies provide, and the benefits they might offer society,” Jennifer Shasky Calvery, the director of the Treasury Department’s Financial Crimes Enforcement Network. Original source: http://www.c-spanvideo.org/program/DigitalCu "A number of smart people both inside and outside of government view bitcoin as a major emerging issue that is deserving of our attention" - Senator Tom Carper (D) Original source: http://www.youtube.com/watch?v=x8Y71IXEK8w “It [Bitcoin] is a huge, huge, huge deal […] it is gold 2.0” - Chamath Palihapitiya, venture capitalist and former Facebook executive Original source: https://www.youtube.com/watch?v=59uTUpO8Dzw&feature=youtu.be&t=19m14s "Bitcoin may be the TCP/IP of money." - Paul Buchheit, Creator of Gmail https://twitter.com/paultoo/status/328969714283995136 “We have elected to put our money and faith in a mathematical framework that is free of politics and human error.” - Tyler Winklevoss, Winklevoss Bitcoin Trust Original source: http://abcnews.go.com/Technology/winklevosses-turn-bitcoin-turmoil/story?id=18941399
[TASK] Draw me a nice picture of a half lion, half moose, with the face of Ben Bernanke. 10 USD, payable by bitcoin, monero, or cash in the mail.
[TASK] Draw me a nice picture of a half lion, half moose, with the face of Ben Bernanke. 10 USD, payable by bitcoin, monero, or cash in the mail. I might be willing to pay more if it's really nice. Edit: Must be released CC BY-SA. (Creative Commons) Edit: To be clear, I mean an actual drawing, not something photoshopped.
"Bitcoin is an attempt to replace fiat currency and evade regulation and government intervention," Ben Bernanke said in Toronto. Former Federal Reserve chairman Ben Bernanke offered both muted praise and criticism when discussing bitcoin in a new interview, suggesting that government oversight of blockchain transactions ... Ben Bernanke’s letter to Congress: Bitcoin and other virtual currencies “may hold long-term promise” ... But he also said that bitcoin and its ilk “may hold long-term promise, particularly ... Bernanke Thinks Bitcoin Will Fail (But He Likes Blockchain) What does the former head of the Federal Reserve think of a digital currency that operates outside the control of central banks? The answer, unsurprisingly, is not much. “Bitcoin is an attempt to replace fiat currency and evade regulation and government intervention. Ben Bernanke on bubbles, bitcoin, and why he’s not a Republican anymore. Reuters/Kevin Lamarque. A heart-to-heart with Ben. By Matt Phillips. November 19, 2015 This article is more than 2 years old.
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