# Bitcoin

Bitcoin is a peer-to-peer payment system and digital currency introduced as open source software in 2009 by pseudonymous developer Satoshi Nakamoto. It is a cryptocurrency, so-called because it uses cryptography to control the creation and transfer of money.

## Quotes

* Bitcoin is meant to be this wonderful freeing thing. It’s a load of old nonsense; think of the power it takes to drive, to replicate, all those transactions globally. I just think it’s crazy, on energy usage alone.
** Mary Mellor, Emeritus Professor of Sociology, “Never Waste a Good Crisis”: An Interview with Mary Mellor by Helena Feder, 2017.
* Bitcoin may be the TCP/IP of money. This is a statement that highlights the transformative potential of Bitcoin Price in the financial world. Just as TCP/IP laid the foundation for the internet's widespread adoption, Bitcoin's underlying blockchain technology has the potential to revolutionize the global financial system. With its decentralized, secure, and transparent nature, Bitcoin has opened doors to a new era of digital finance, challenging traditional banking systems and offering greater financial inclusion for individuals worldwide. As more industries recognize its value, Bitcoin's impact on the world of money is akin to what TCP/IP achieved for the world of communication and information exchange.
** Paul Buchheit, creator of Gmail, on Twitter.
* I knew there would be a question on Bitcoin or cryptos ... I've watched these politicians dodge questions all the time ... and I've always found it kind of disgusting ... But, the truth is — I'm going to dodge that question — because we've probably got hundreds of thousands people watching this that own Bitcoin — and we've probably got two people that are short. So we've got a choice of making four hundred thousand people mad at us and unhappy ... or making two people happy. And, that's just a dumb equation. ... We have a governor one time in Nebraska .. long time ago .. he would get a tough question about property taxes .. or what should we do about schools ... and he'd look right at the person and say, "I'm all right on that one!" And he'd just walk off. Well, I'm all right on that one and we'll see how Charlie is.
** Warren Buffett, (May 1, 2021)"Berkshire Hathaway Annual Shareholders Meeting 2021 featuring Warren Buffett and Charlie Munger". (quote at 3:42:48 of 5:42:25)
* [bitcoin is] probably rat poison squared.
** Warren Buffett. Macheel, Tanaya (2022-04-30). "Warren Buffett gives his most expansive explanation for why he doesn't believe in bitcoin". CNBC. Retrieved on 2022-05-02.
* it doesn't produce anything, [If] you offer me 1% of all the apartment houses in the country and you want [...] $25 billion, I'll write you a check, it's very simple. Now if you told me you own all of the bitcoin in the world and you offered it to me for $25 I wouldn't take it because what would I do with it? I'd have to sell it back to you one way or another. It isn't going to do anything. The apartments are going to produce rent and the farms are going to produce food.
** Warren Buffett. Macheel, Tanaya (2022-04-30). "Warren Buffett gives his most expansive explanation for why he doesn't believe in bitcoin". CNBC. Retrieved on 2022-05-02.
* I've always been deeply opposed to crypto, bitcoin, etc. You pointed out the only true use case for it is criminals, drug traffickers, money laundering, tax avoidance. .... If I was the government, I’d close it down.
** Jamie Dimon, responding to a question by Elizabeth Warren during a Senate Banking Committee hearing, December 6, 2023.
* Bitcoin is getting there. But it’s not there yet. When it gets there, expect governments to panic and society to be reshaped into something where governments cannot rely on taxing income nor wealth for running their operations.
** Rick Falkvinge, founder of the first Pirate Party, on his blog.
* Bitcoin represents a significant threat to the currency domination of the USA, which is the only thing propping up the nation’s status as a worldwide superpower.
** Rick Falkvinge, founder of the first Pirate Party, on his blog.
* I think it's [Bitcoin] a technical tour de force, but that's an area where governments are gonna maintain a dominant role.
** Bill Gates, founder of Microsoft, Fox Business interview.
* I'm a big fan of Bitcoin.
** Al Gore, American politician, Reddit interview (AMA).
* It will be everywhere and the world will have to readjust. World governments will have to readjust.
** John McAfee, founder of McAfee, Inc., Bloomberg interview.
* In my life, I try and avoid things that are stupid and evil and make me look bad in comparison to somebody else – and bitcoin does all three
** Charlie Munger, chairman of Berkshire Hathaway. Macheel, Tanaya (2022-04-30). "Warren Buffett gives his most expansive explanation for why he doesn't believe in bitcoin". CNBC. Retrieved on 2022-05-02.
* I understand the political ramifications of [bitcoin] and I think that government should stay out of them and they should be perfectly legal.
** Ron Paul, American politician, in Reddit interview (AMA).
* Having alternative currencies is great, right, because, historically, government's had a monopoly on currency. … At the end of the day, why should only politicians—either directly or indirectly—control the currency? We can reduce transaction cost, provide an alternative, and—look, I don't know whether it'll be Bitcoin or not—but I think the concept of digital currencies is here to stay, and the fact that a politician would write to try to ban them in their infancy is just the wrong way to go about it. Let the market determine whether there's any value there or not. … If people are saying, "Look, we gotta ban Bitcoin because it's somewhat anonymous and anonymous transactions can occur," or "because it's possible for criminals to use it," all of those arguments can be used to say, "Just ban dollars." … The government doesn't need to "treat" it [Bitcoin] at all. … The government policy should be completely agnostic about what unit of exchange is used.
** Representative Jared Polis, interviewed by Kennedy, Matt Welch, and Kmele Foster on The Independents, Fox Business (10 March 2014).
* Ethereum has vast potential, whereas Bitcoin won't ever do anything well beyond implementing a currency.
** Nick Szabo, cryptographer, in Business Insider article.
* Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative.
** Nassim Taleb, author, in Reddit interview (AMA).
* I think there is a 20% chance that Bitcoin will become a huge, worldwide success.
** Peter Thiel, co-founder of PayPal, CryptoRobotics (translated from German).
* We have elected to put our money and faith in a mathematical framework that is free of politics and human error
** Tyler Winklevoss, in an interview with NYTimes.
* planet-incinerating Ponzi grifters
** Jamie Zawinski, founder of Mozilla.org Twitter. Singh, Manish (2022-01-06). "Mozilla hits pause on crypto donations following backlash". TechCrunch. Retrieved on 2022-05-02.

## See also

* Cryptocurrency