Is bitcoin the future of money

by Ray Sensenbach on

#BITFuture

No need for third party
Decentralized transfer of ownership
Block chin is the true open source item of importance
A network first and foremost
We are in the early days of the internet
@kiasuchick: Bitcoin is about the decentralized network, not the currency. #SXSW #BITFuture http://t.co/jzS80vTN9h
@kimhollenshead: Bitcoin is the first place where you don’t have a third party nor do you have to prove ownership #SXSW
@ramirocaso: Bitcoin is an application on top of an open network that lets you transfer ownership #sxsw14
@kimhollenshead: Ehrsam thinks they’ll have to create clearinghouses #BITFuture #SXSW
@blogging4jobs: Small dollar payments on the internet is a grt use of bitcoin #bitfuture
@blogging4jobs: RT @kiasuchick: Bitcoin is efficient, quick unlike banks that take days to verify funds #SXSW
@TPNRETAIL: What are people using bitcoins for?...As currency for the most part, in cases where the transfer of $ is extremely inefficient #bitfuture
@tinch: “The biggest sin of the internet is that there’s no native payment currency.” #SXSW
@OmarrCantu: RT @kimhollenshead: Bitcoin is the first place where you don’t have a third party nor do you have to prove ownership #SXSW
@blogging4jobs: Bitcoin offers live stock exchange beyond purchase of just stock. Purchasing physical prods when exchange rate is in ur favor #bitfuture
@blogging4jobs: Bitcoin is enabling new behaviors #bitfuture
@tinch: “2014 will be the year when a lot of big retail companies start accepting Bitcoin.” #SXSW
@madgirlnyc: #bitfuture big merchants accepting Bitcoin: look to middle of this year says Ehrsam
@katmandelstein: RT @natface: Ehrsam confident that this will the year that mainstream retailers start accepting bitcoin. It makes economic sense.
@kiasuchick: .@FEhrsam if you're operating low margin business online (think:retail) can reduce fraud & cc operating costs, no-brainer. #SXSW
@VMwareKim: .@FEhrsam tells us his partners mother is their beta tester. If it’s too complicated they make revisions. #Smart #BITFuture #SXSW
@katmandelstein: interesting, Co-founders mother is a big part of product development to ensure simplicity #BITFuture #SXSW
Early tech adopters are excited because it's simply a better payment network. Inherently better, cheaper, faster.
@kiasuchick: Traditional tech early adopters (aka Nerds) are primary users of Bitcoin right now. Anti-gov people are just more vocal. #SXSW
@candiceeng: Using bitcoin to go off the grid?!
@kimhollenshead: Does Bitcoin give users complete anonomynity? @FEhrsam doesn’t really think to the degree some users think #BITFuture #SXSW
@katmandelstein: RT @natface: Advocates love that it enables the sharing of information in a way that doesn't require the traditional middlemen /platforms #…
@natface: RT @kiasuchick: Traditional tech early adopters (aka Nerds) are primary users of Bitcoin right now. Anti-gov people are just more vocal. #S
@kimhollenshead: Can Bitcoin protect us from the man? @FEhrsam says the network can #BITFuture #SXSW
@tinch: “Bitcoin is pseudo anonymous. It’s a myth that it’s anonymous in the way people tout it. The most transparent network.” #SXSW
@kiasuchick: Will Bitcoin be subject to gov monitoring? Network is such that everyone has visibility to transaction history, public #SXSW
@kimhollenshead: .@FEhrsam tells us credit cards were made for brick & mortar stores, not the internet. #BITFuture #SXSW
@ramirocaso: RT @PernilleT: Erhsam, Coinbase: What would happen if cash was invented today? Law enforcement would be up in arms - like w Bitcoin #bitfut
@kiasuchick: Credit cards bad in terms of security. It's not the right form factor for online. Bitcoin doesn't require sensitive info. #SXSW
@tinch: “Bitcoin is the most secure payment rail in transferring value over the internet.” #SXSW
@angiegassett: Credit cards were not made for the internet. Bitcoin doesn't create the same security issues. #sxsw #bitfuture
@kiasuchick: Nature selection going on in Bitcoin world. First generation companies failing due to security issues. Security improves #SXSW
@oamike: RT @kiasuchick: Nature selection going on in Bitcoin world. First generation companies failing due to security issues. Security improves #S
@mobilefomo: #Bitcoin, future of mobile payment? #bitfuture #sxswi #sxsw #sxsw14 http://t.co/6F8cfhGa55
@tinch: “Storage of Bitcoin is a unique problem. Coinbase keeps 90% of funds in cold storage - unplugged from the internet.” #SXSW
@pmmichalski: How does coinbase do what mt gox didn't? Ehrsam says it's about cold storage. Mt gox had no internal checks and balances. #BITFuture #SXSW
@12Ahead: Credit cards were not made for the internet – they were foreign and got bolted on. Bitcoin changes that #sxsw #bitfuture
@oamike: RT @pmmichalski: How does coinbase do what mt gox didn't? Ehrsam says it's about cold storage. Mt gox had no internal checks and balances. …
@kiasuchick: Coinbase's @FEhrsam says his percentage of net worth is < 5% in Bitcoin. His future net worth tied to Bitcoin's success #SXSW
@EurekaSoft: RT @natface: . @FEhrsam reminds us that credit cards were made for an analogue world, and just used in digital. Bitcoin is made for digital…
@EurekaSoft: RT @natface: . @FEhrsam reminds us that credit cards were made for an analogue world, and just used in digital. Bitcoin is made for digital…
@madgirlnyc: RT @kiasuchick: Legit Bitcoin companies have 3rd party audits like Coinbase. Mt. Gox was commingling funds and not auditing transactions. #…
@madgirlnyc: RT @kiasuchick: Legit Bitcoin companies have 3rd party audits like Coinbase. Mt. Gox was commingling funds and not auditing transactions. #…
@kimhollenshead: RT @TPNRETAIL: Bitcoins takes "storing money in the freezer" to a new level #bitfuture @FEhrsam recommends cold storage
@pmmichalski: What is coinbase working on? Improving the bitcoin customer/user experience. #BITFuture #SXSW
@pmmichalski: Ehrsam: every day there are more bitcoin transactions and those actions will keep decreasing fees more and more #BITFuture #SXSW
@pmmichalski: What is coinbase working on? Improving the bitcoin customer/user experience. #BITFuture #SXSW
@SenseWorldwide: Bitcoin is a nascent form of low-cost foreign exchange #bitfuture #bitcoin #
@natface: RT @SenseWorldwide: Bitcoin is a nascent form of low-cost foreign exchange #bitfuture #bitcoin #scsw
@natface: Funny that critics are up in arms around the perceived anonymity of bitcoin, imagine if cash was invented today?
@tinch: The mother of the Silk Road creator just asked about how donations can be made using Bitcoin. #SXSW
@tinch: The mother of the Silk Road creator just asked about how donations can be made using Bitcoin. #SXSW

RT @tinch: The mother of the Silk Road creator just asked about how donations can be made using Bitcoin. #SXSW
@ASankin: Ross Ulbricht's mom just asked a question about using #bitcoin for fundraising--her son's legal defense fund is in bitcoin #sxsw #bitfuture
@HoDinhMinhCity: Whoa...Ross Ulbricht's mom dropping Q&A about bitcoin #SXSW #SilkRoad #BitFuture
@HoDinhMinhCity: Whoa...Ross Ulbricht's mom dropping Q&A about bitcoin #SXSW #SilkRoad #BitFuture
@honoria: #MadeWithPaper #bitfuture Yes, I do pay income tax... #sxsw http://t.co/dybbWMTdNw