Fred Ehrsam Quotes
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Ethereum will be a first-class citizen on Coinbase.
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Ethereum has taken what was a four-function calculator of a programming language in Bitcoin and turned it into a full-fledged computer.
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Private funding was one of the first methods used when MIT funded Bitcoin core developers Gavin Andresen, Wladimir van der Laan, and Cory Fields in 2015.
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Ethereum may make monetary policy decisions like, 'Let's do 1% inflation to support the ongoing development of the Ethereum protocol.' A token built on Ethereum might want to do the same.
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Just as the Internet brought the cost of disseminating information down by an order of magnitude, bitcoin brings the cost of transferring ownership down by an order of magnitude.
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While it may seem scarier in the earlier days, I think ultimately the blockchain creates a safer world.
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AIs are only as good as the data they are trained on. And while many of the tech giants working on AI, like Google and Facebook, have open-sourced some of their algorithms, they hold back most of their data.
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Tokens align incentives between developers, contributors, users, and investors. They allow everyone who wants to contribute to a project early the opportunity to get in on the ground floor.
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AIs are only as good as the data they are trained on.
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For the foreseeable future, I'm all about building blockchain-based decentralized services.
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Working on a token is similar to working on a startup: higher risk and lower initial impact but higher upside potential. How core protocol work is best funded beyond the initial Ethereum Foundation endowment is an open question, but likely further out.
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The ability to easily buy and sell Bitcoin has been a really key factor in accelerating Bitcoin adoption.
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When Coinbase was starting, we thought we were seeing the birth of something that was really important - what I would almost describe as the future fabric of society - the system for who we are - our identities, what we own, our assets.
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Bitcoin's value is the same: It will remain as long as it is the most efficient mechanism for transferring ownership.
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Scaling is multidimensional. Different methods address different things.
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At GDAX, we want to see new protocols and their tokens flourish.
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Bitcoin has a core technological innovation: The ability to publicly verify ownership, instantly transfer that ownership, and do so without the need for a trusted third party.
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Public crowdfunding still suffers from a tragedy of the commons problem. Everyone will want the benefit of the crowdfunded efforts but is incentivized to sit on the sidelines and hope others chip in.
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I think the whole narrative of blockchain without bitcoin will amount to very little.
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At the end of the day, what's going to make bitcoin successful is more people making more interesting things, just like the beginning of the Internet.
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The scripting language in Bitcoin is important because it is what makes Bitcoin 'programmable money'. Within each Bitcoin transaction is the ability to write a little program.
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As with early internet startups, some token models don't make sense. For every 1 huge hit, there will be 3 minor successes and 100 failures, so we shouldn't be surprised when some fail.
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Developer mindshare is the most important thing to have in digital currency.
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Not having sub-governance would be like anyone who owns USD being able to walk into a Google shareholder meeting and voting without owning Google stock just because Google shares happen to be denominated in USD.