Marc Andreessen. Menschen der Geschäftswelt - BitcoinWiki
Marc Andreessen. Menschen der Geschäftswelt - BitcoinWiki
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 Marc Andreessen on Bitcoin: "Bitcoin is still working today, exactly the same as it worked last year and the year before that and the year before that. By all the noise and all of the stuff and all of the crashes and this and that and the other thing, it just continues to work."
Marc Andreessen on Bitcoin: Bitcoin is still working today, exactly the same as it worked last year and the year before that...Through all the crashes and this and that and the other thing, it just continues to work. It’s becoming like air or water.
"The only thing [it] had going for it was it was actually working. It was one of those things that worked in practice and not in theory. There was this groundswell network effect. Every day you had more consumers come [...]" -Marc Andreessen
This could have been said about Kin. Marc Andreessen was actually talking about the internet. Here's the whole section from an interview: "Timothy B. Lee: Yet obviously it did work. What allowed the internet to gain traction in the face of all that skepticism? Marc Andreessen: The only thing the internet had going for it was it was actually working. It was one of those things that worked in practice and not in theory. There was this groundswell network effect. Every day you had more consumers come online. Every day, you had a few people set up websites." Soon it could be a few apps joining Kin every day. Here's where this came from: https://www.vox.com/2014/6/30/5839436/marc-andreessen-on-bitcoin And here's Part 1 of this two part series: https://www.vox.com/2014/6/26/5837638/the-ipo-is-dying-marc-andreessen-explains-why I was extremely impressed with Part 1.
In it he talks about how he had to face many critics in the early days of the Internet. Among their criticisms were:
It’s for nerds. “Fine, you nerds can do what you want but normal people are never going to use this thing.”
It’s completely decentralized, which means you can’t trust it. No business is ever going to do anything on it because businesses won’t work on an untrusted environment. There won’t ever be any e-commerce.
There will never be any internet payments. No one will put their credit card on the internet.
It’s an open-source kind of thing so there will be no Internet companies.
It’s got all these technical deficiencies. It’s slow. It’s unreliable. It doesn’t work right. When you do a search, sometimes you get an answer back and sometimes you don’t. Sometimes when you dial in you get a busy signal.
What happen if your ISP goes out of business? Then you can’t get back online.
Once you get on the internet, even assuming you get on the internet, there’s nothing to do. There’s no content. Time magazine isn’t online, he New York Times isn’t online. It’s just a bunch of nerd stuff.
I thought of some comments I often hear people make about Bitcoin. It can be hard to compare industries far into the growth stage of the business cycle to those still nascent. I thought I would see what these criticisms look like if they were spoken about Bitcoin.
It's for nerds. "It’s far too complex. Fine, you crypto-coders can do what you want but normal people find wallets way too complex and difficult to use. They are never going to use this thing.”
It’s completely decentralized, which means you can’t trust it. No business is ever going to do anything with Bitcoin because businesses won’t work on an untrusted environment. There won’t ever be any Bitcoin-based ecosystem.
There will never be any Bitcoin payments. No one will put their real money into Bitcoins because it is so unsafe. I also heard that it is for drugs and black market payments.
It’s an open-source kind of thing so there wont be any Bitcoin companies. Besides, if it is open source, how do you make money?
It’s got all these technical deficiencies. It’s slow. It’s unreliable. It doesn’t work right. I heard that it gets “hacked” a lot and your money isn’t safe in Bitcoin.
What happen if your Bitcoin Exchange goes out of business? I heard that Bitcoin was bankrupt with that company Mt.Gox. Then you can’t get your money back.
Once you get some Bitcoin, even assuming you figure out how to do cryptography, there’s nothing to buy with it. There’s no real stores that accept it. It is only a bunch of crypto-enthusiasts doing all sorts of crazy funding schemes that make no sense.
Bitcoin still holds the same technological potential. It's use-cases, that will increase the market cap, are still being developed.
When Bitcoin has its use cases functioning, such as remittances, offering the unbanked services, and eventually when merchants open up international commerce, you will see that in a reflection of the price. Bitcoin will be used as remittance money exchanging platform. These services are being built now. Bitcoin will be adopted by many unbanked. These people have no access to banks. These people will be connected to the Internet soon. By 2020 were expected to double internet penetration worldwide. Besides Bitcoin can work by sms, and radio. The unbanked represent at least $1.3 trillion dollers. For many of these 3rd world people, having a cellphone is cheaper than having a bank account. To put this into perspective they have a cellphone, but it's difficult to obtain clean drinking water. It's also opens up international commerce in a way that we have never had due to credit cards. Bitcoin opens up international commerce like we have never seen. A big feature is for people who live in countries where credit card fraud is higher. If you live in, say, Ukraine and want to order something from the states (or even from within Ukraine), it is a huge deal when it is even possible to complete a transaction because merchants can't trust that the transaction isn't with stolen cards. Bitcoins irreversibility mitigates this problem. Additionally, "You have significantly reduced transaction costs compared to converting one international currency to another international currency -- it's typically cheaper." It wouldn't matter if the price of a Bitcoin was $10 dollers, it would still fun coino correctly for commerce, etc. Besides, there are services coming which will supposedly allow you to lock in your "value" allowing people the ability to avoid any volatility. When the 21 million units are purchased by people, that's it, you will see the price reflect that, eventually. By 2020 93% of all bitcoins will exist, which also correlates with data on future Internet adoption rates. What are you selling based upon anyways, the price? Did you buy based upon only the price, or the possibilities of the technology. Nothing has changed, the startups have received money already and are still building the services. Every time you sell successfully, someone else now obviously believes the opposite of you and is buying. They are either day trading, or holding, pick one. Of course I'm telling you this because I want you to remain faithful. I don't want the price to drop. I want it to remain stable, it makes Bitcoin look good. Just a video reminder of Mark Andreessen on bitcoins long term potential: http://video.cnbc.com/gallery/?video=3000279168 /rant.
Marc Andreessen (inventor of the first web browser) on Twitter: "I will happily retweet all retractions and apologies from people who wrongly forecasted death of Bitcoin as result of MtGox collapse :-)."
@Techmeme: Q&A with Chris Dixon on a decentralized internet, bitcoin's block size debate, the Ethereum network, Andreessen Horowitz's crypto fund, future investments, more (@kmaney / BREAKER) https://t.co/7cq0kE3JsC https://t.co/MGkT1INqyv
@dealbook: Last year, when Bitcoin and most other virtual currencies were gaining in value, most large venture capital firms began beefing up on expertise in the space and making investments. Andreessen Horowitz was ahead of many of its peers. https://t.co/Oz9zawKAKu
Marc Andreessen the cofounder of Andreessen Horowitz is a big believer in bitcoin and in 2014, Andreessen wrote a popular opinion article called “Why Bitcoin Matters.” Six years later, while ... Marc Andreessen: Bitcoin Is A “Very Important Idea” by Nick Chong. 2 years ago. in Bitcoin, Cryptocurrency Technology, Industry News. 3 min read Marc Andreessen, one of the internet’s foremost entrepreneurs and investors, has recently doubled-down on his pro-Bitcoin sentiment, divulging that cryptocurrency is a “fundamentally new and very important concept.” This notable nod of ... A deposition with the former Bitcoin Core lead maintainer Gavin Andresen casts doubt on the claim that Craig Wright is Satoshi Nakamoto. Why Bitcoin Matters. A mysterious new technology emerges, seemingly out of nowhere, but actually the result of two decades of intense research and development by nearly anonymous researchers. Political idealists project visions of liberation and revolution onto it; establishment elites heap contempt and scorn on it. On the other hand, technologists – nerds – are transfixed by it. They see ... Bitcoin is open source; The design is public, so no one can own or control the Bitcoin network, and everyone can participate. Thanks to its unique features, Bitcoin makes possible exciting USES that were previously impossible for any payment system. The Watertap . The Bitcoin Watertap, also known as the flow pool, differs from traditional advertiser gameplay. It swaps advertisers' commissions ...
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