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Creator Of Netscape Praises Bitcoin, Compares It To The Invention Of PCs And The Internet
The venture capital firm of Marc Andreesen, the creator of the first web browser, Andreessen Horowitz, has invested just under $50 million in Bitcoin-related start-ups. The firm is actively searching for more Bitcoin-based investment opportunities. Here's is one of the reasons why: from an excerpt in an Op-Ed Andreesen just posted on the NYT (the same place where that ecomedian, Paul Krugman, can't stop bashing it).
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 within it enormous potential and spend their nights and weekends tinkering with it.
Eventually mainstream products, companies, and industries emerge to commercialize it; its effects become profound; and later, many people wonder why its powerful promise wasn’t more obvious from the start.
What technology am I talking about? Personal computers in 1975, the Internet in 1993, and — I believe — Bitcoin in 2014.
...
[S]ome prominent economists are deeply skeptical of Bitcoin, even though Ben Bernanke, the former Federal Reserve chairman, recently wrote that digital currencies like Bitcoin “may hold long-term promise, particularly if they promote a faster, more secure and more efficient payment system.” And in 1999 legendary economist Milton Friedman said, “One thing that’s missing but will soon be developed is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B without A knowing B or B knowing A — the way I can take a $20 bill and hand it over to you, and you may get that without knowing who I am.”
Economists who attack Bitcoin today might be correct, but I’m with Ben and Milton.
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Is Max north of the border? I'm pretty sure fonestar is.
Supporting bitcoin from a now defunct product. Irony?
edited
Supporting his own investment is more like it. The author states upfront that Andreesen's firm just invested $50 million in btc startups and then wrote an op-ed to pimp btc. This kind of shit should be illegal.
"One thing that's missing but will soon be developed is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B without A knowing B or B knowing A — the way I can take a $20 bill and hand it over to you, and you may get that without knowing who I am.”
The above quote is quite true.......it's called PayPal, and it's been around for years.
But with PayPal, C and D both know who A and B are so that privacy is not what you think. The privacy is the allure of Bitcoin and it won't be long until Bitcoin offers no privacy.
Fraud does love privacy.
Yes, yes, because all these "innovations" have worked out so well for everyone so far, what could possibly go wrong with people engaging in face-to-face deals even less.
As I've stated numerous time before -- and will keep repeating until the message sinks in...
Pitting Gold vs. Crypto-Currencies is a FALSE argument -- designed to deflect and redirect from the TRUE argument:
[1] PARALLEL ECONOMY = Barter + Cash + PM + BTC/LTC + Real_Assets... = Free-market driven = Free-market economy
[2] OFFICIAL ECONOMY = Fiat Debt_Currency + Debt (Credit) + Bonds + Derivatives = CB-driven = Centrally-planned economy
1. Get clarity, 2. Pick a side and 3. Keep your focus.
p.s. Personally, I'm in favor of having a mix from the Parallel Economy. What one asset (vehicle) won't do for you, another one will -- depending on the circumstances and goals.
p.p.s. / Now let the trolls and Adult-ADD cases keep posting their False arguments. /sarc
Agree with your comments Kirk,
Parallel economies have existed and will exist always.
I think the point many people miss is that anyone with access to a bank account and a computer can buy bitcoins, that includes central banks and government agencies, or anyone acting on their behalf. Please, the problem is not in that we don't have an "alternative" or "parallel economy", the fucking problem is that there is no rule of law. Fraud is the status quo, posession is the law, bitcoin does nothing to change that, just ask John corzine.
And I am someone who has used cryptocurrcies to exchange money for items or move money. However, perserving wealth requires that the value can't suddently plunge and you have access 24/7 (regardless of the power and internet being on or off), again, when fraud is the status quo, possession is the law, period.
The problem is: there is a rule of law. You just don't care for how it is being administered. Which will always be the problem with systems of law. We need to eliminate law in its' entirety.
As for bitcoin or computers or the internet, just how much has tyranny increased with the implementation of these technologies? Just ask the million plus Koreans about credit cards or target, neiman marcus and six other retailers too big to be named customers.
Everything we write is tracked, recorded and kept for future use. What we buy, sell, our mail is recorded, our cars are tracked, our phones are tracked, hell, our cars can be taken over.
Luddites just might be the new revolution.
Please, there is always some level of tyranny and corruption. That which cannot be sustained, won't be, period.
Same as it ever was...
Because we continue to use systems of law. Law=tyranny and corruption. You can try to dismiss it, but that won't change anything.
Oh yes... I'm utterly transfixed.
Netscape? How long was its half-life?
About 1 Microsoft dumping, incompatibility by design (IIS) and FUD period.
I think it has a future...but for me its more like the old travelers checks....something you would want if you travel....easy to cash in those days..
He forgot tulips.
Pff... Bitcoin is so yesterday; Doge!
G-G-Gold Bitches. See you at $3000
He thought competing with Microsoft was a good idea too. Now modern hipsters live an age where Netscape is as unknown as Betamax. Trusting electronic currency is like trusting the latest "unhackable OS". They will find a way. Next thing you know, bitcoin blockchains will be the vector for a global virus.
Ever heard of Mozilla Firefox? It's basically the open source version of Netscape Navigator.
Firefox has more than twice the market share of Internet Explorer. So who really won, mhh?
http://www.w3schools.com/browsers/browsers_stats.asp
It gives me the impression of guys promoting gold rush to sell more shovels.
So if I put my bitcoins on google drive who owns the bitcoins?
The NSA.
Sio if I buy something from A, and A does not know who I am and I do not know who A is, who knows?
The blockchain effectively "knows" because as a public ledger, your transaction has been recorded and verified by the network of bitcoin miners, whose computing power is decentralized and distributed across a global network. New bitcoins are minted by miners who are constantly verifying and validating every transaction that has ever happened to every bitcoin address. The transaction record you create is irreversible and effectively proves which addresses own how much bitcoin. Bitcoin addresses are accessed by unique private keys, enabling only the person(s) with those private keys to transmit part or all of the balance associated with that address to any other address.
If I put all of my gold coins on my front porch who owns the coins?
Answer:
You'll only hold your property for as long as you're willing to properly protect it.
Mining Pool Centralization At Crisis Levels
Who owns them ?? You and the NSA do. If you keep the pw offline. Now they still can be diluted later by the majority miners swapping to a new limit (after the ideological enemy of deflation is defeated).
http://bitcoinvista.com/2014/01/13/mining-pool-centralization-at-crisis-...
What the fuck is Netscape???, LMAO.
Netscape morphed into (got resurrected as) MOZILLA FIREFOX. You have heard of that browser, have you? :-)
You can't keep a good idea down. Or, as someone once said: "There is nothing more irresistible than an idea whose time has come"
Nobody is saying bitcoin has no value. Clearly some see value in it. However, it is in a bubble just now, has some pretty glaring technical limitations and it doesn't actually solve any of the problems inherent in the existing monetary systems. It might replace western union, or maybe some other payment processors.
"Nobody is saying bitcoin has no value" Uhhh..wrong. There are a whole lot of dimbulbs here that say that exact thing...over, and over, and over again.
Bubble? You are insane.
Technical limitations? Baloney. The only limitations here, are those of the small minds who cannot see what a departure this is from everything prior.
"...doesn't solve any of the problems..."? Again, you are nuts. It may not solve ALL problems, but to say it doesn't address ANY is ridiculous.
In short, your entire post is full of....................nothing.
Ever sentence was correct and of merit.
Bubble relative to fiats, in his opinion, yep
Very limited, with forking, miner's working for free leading to collusion & pooling, take-overs, hacking, no privacy, permanent record, ummm. what else, selfish mine, Fed said they can take it over easier when it gains further unitary value (err adoption, imho) the list goes on. This is a transfer mechanism with no long-term subjective value in memory, it can and will be devalued whenever the hash is changed by the majority. Who wants to be a part of that, especially when its hard to use when lights are off. So short sighted these so called nerds are.
wait wut?
I thought I deleted that Drudge Report bookmark long ago?
It was CREATED BY TPTB
Get it through you fucking heads!
Can you be more specific? Is it the US version of TPTB? UK? UN? Illuminati? Rothschilds? Stonecutters? He-Man Woman Haters Club?
Bitbrain.
"I'm sorry Spanky, I gotta live my own life".
If it's not bitcoin, it will be something like it. If you can't see that you are blind...
Correct, for example, under the right circumstances, a fucking can of beans will have great value. Just remember, when fruad is the status quo, possession is the law.
Thanks again for more confirmation that there is still a lot more opportunity for people like me.
1. "Tulips, pets.com, a bubble" blah, blah, blah LOL LOL LOL ha ha let's all giggle and laugh at the bubble like a bunch of teenage girls chit chatting on FB about Justin Bieber.
This is the most childish and shortsighted response I see all the time. You guys can look at charts of the tulip mania. I'll look at penetration rates and adoption rates of the internet itself.
2. "Bitcoin is a neat currency/payment method"
Bitcoin is a platform and an infrasctructure. If you are willing to open your mind to this possibility you will see why it could make more of an impact than the internet has.
3. "it's a conspiracy and TPTB created it to track all of us"
I'm open to it being created by TPTB but if so who gives a fuck. Buy some to protect yourself and hedge. If they want it to help track everything then that means they want it to be used heavily and trusted. That would require its use to skyrocket and its value to rise along side that due to its deflationary structure. Sure you could hide in a bunker but you could also hedge and ride along.
Well said. I find it hard to believe why TPTB would want something decentralized, and may find it difficult to track some 100+ crypto currencies now in existence. Short sighters just don't see the big picture, focusing only on Bitcoin and missing the real invention that Bitcoin represents, which is like saying Netscape failed so therefore the Internet failed.
"I find it hard to believe why TPTB would want something decentralized,"
ITS A CENTALIZED PUBLIC LEDGER
and may find it difficult to track some 100+ crypto currencies now in existence.
uhmmm, they'll follow the big ones, the ones that take hold, they'll consolidated the miners to a majority, they'll "democratically" revalue after deflation is inappropriately blamed for yet again an arbitrarily set supply, rather than the supply of a commonly adopted money being produced on the free market, determined by prices, and the good ole fashioned profit & loss test.
"missing the real invention"
what, friction free transfer, BANKS do that for fees. shits been around forever. what's this but an arbitrary puzzle, posing as 100 others are as some special "supply" to be adopted, discovered and valued. And loved.
A fool and their money are soon parted
Just when Asia and Europe are repatriating their physical gold, Bitcoin arrives on the scene?
Precious
https://bitcointalk.org/index.php?topic=373470.0
You know. I believe the do ring a bell at the top.
"New Paradigm!!!!!" (choirs of angels singing) stage of the Bitcoin bubble.
http://static.seekingalpha.com/uploads/2010/2/16/saupload_bubbles.png
I don't think bitcoin will go to $5 or $10K it's too easy to roll an alternative. Note: This is void if things go the hyperinflation route
If the government came out with their own crypto currency do you think the mass of people would use that or Bitcoin. I think people would prefer the security of the government backed coin (yes sarc and ironic tag but this is what we are dealing with)
They don't have the petaflops. Last month, the network was at 50k petaflops. Currently its192181.78. Secondly, people don't trust the US.
http://bitcoinwatch.com/
BTC network is now 192752 petaflops since my other comment. 500+ petaflops were added in a few hours.
The Top 500 Supercomputers COMBINED power is 14 petaflops.
Too little too late for gov'ts.
Peta retard they can buy the miners with they dick ring, hold, wait for Lenin's fools to adoaaaaapt, and revalue when ever at that point.
WITH a perpanent public recod of all purchases, the ability to turn on and off people, groups, Ip ranges,
youreall weataaaded
Ponzi
Fools and their money are soon departed.
Just when Asia and Europe are trying to repatriate their physical gold
(transformed into gold plated tungsten by reverse financial alchemists who resisted full audit of deep gold since 1953
with vaults raided around 9-11 like Die Hard with a Vengeance),
the US having delivered just a five of 1500 metric tons due to Germany,
Bitcoin arrives on the scene to save the day?
Precious
https://bitcointalk.org/index.php?topic=373470.0
I am severely impressed... NOT.
$50 million is chump change for those VC firms, this is mainly a public relations exercise.
Yeah, that dollar figure threw me off too. Implementing a competing currency to the USD will require 9-10 figure investment to even make a dent.
Besides, does anyone here in their right mind think Wall Street, The Fed and TPTB will allow YOU to control your own monetary policy? BTC will be regulated into oblivion, and taxed as such too. As long as BTC is either directly or indirectly associated with the USD/income tax, it will fall into the same greedy and cyclical trap all currencies do.
Let us not forget Silicon Valley armed the espionage control society where 85 people own half the world's wealth and control more
http://www.theguardian.com/business/2014/jan/20/oxfam-85-richest-people-...
Revelation 13
The Mark of the Beast
16And he causes all, the small and the great, and the rich and the poor, and the free men and the slaves, to be given a mark on their right hand or on their forehead, 17and he provides that no one will be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name.…
Moral idiot downgrades
To paraphrase Winston Churchill,
You may remain moral idiots long after you are bankrupt
http://kauilapele.wordpress.com/2014/01/20/china-to-purchase-the-federal...
Another billionaire prediction
"I am optimistic enough about this that I am willing to make a prediction. By 2035, there will be almost no poor countries left in the world."
http://www.cnbc.com/id/101351736
Mark 14:7
The poor you will always have with you, and you can help them any time you want
What do the following ALL have in common?
Cashier's Check
ATM Withdrawal
Money Orders
Travelers Checks
Paper Checks
Debit Cards
They ALL require fees to "change your money". This isn't even account FOREX trading either. I don't think people fully understand how much banks profit from "money changing". As it stands now you can trade BTC for USD without any fees, but does anyone think that is going to continue? BTC supporters claim the technology is superior, and that charging fees for converting to BTC isn't possible. How do you think the banks will react? By charging us ALL MOAR FEES!
The more popular BTC becomes, the more fees our banks will charge us.
how stupid are you?? can I leverage on the ramp up your replies will surely cross the ATH you just posted
Re the global currency reset
http://www.lindseywilliams.net/lindsey-williams-goldseek-radio-chris-wal...
http://alpinecapital.blogspot.com/2013/12/our-best-pick-for-2014.html
Market top indeed. Netscape wasn't the first browser, either. Jeez.
Andreesen wrote Mosaic (first web browser). It later evolved and changed names.
And the Internet existed long before the Web.
I was command line browsing the web from a C=64 back in the day using a Cali 800 dial up gov number. No commerical transactions were allowed.
C64 :)
Back in 1983 I did a little time for hacking. Today I'd have a hard time hacking my neighbor's Wi-fi. (Ok, hyperbole but not by much)
Uncle's prosecutors were definitely still in mostly uncharted territory, but I will NEVER forget the one thing that they were familiar with:
"Interstate use of the telephone lines to facilitate the commission of a crime".
That charge alone was good for a threat of 20 yrs as I recall. Doubled from 10 due to aggravation. Or maybe it was 20 doubled to 40. I should remember. One term of the plea to a MUCH lesser sentence was the agreement to basically not touch one again. Hardly enforcable, but that was boilerplate at the time. When the total threat exceded my lifespan it got my attention very quickly. I met a future employer while in the can. So I can thank them for that much.
Rigs cobbled together from commercial pieces C64, TRS-80 (aka trash 80 lol), IBM PC, PC Jr even, and whatever could be scavanged or stolen (yeah I lacked ethics) from university labs. Back then we were truly the geeks for having an inkling about this "useless" esoterica. The folks who employed me later were happy to have on their payroll a geek who didn't mind breaking law.
so, the nsa will own it too?
Whats the company value of Netscape these days?
NIce article, from Fortune of all places:
"Bitcoin is not just digital currency. It's Napster for finance."
http://finance.fortune.cnn.com/2014/01/21/bitcoin-platform/
Is Fosun gunna get that?