Great Cryptocurrency Quotes to Learn From

Bitcoin is coming up to the ten year mark and to commemorate, here are ten cryptocurrency quotes and what can be learned from them:

1. “It’s gold for nerds.” —Stephen Colbert, Comedian

Aside from being a funny quote, this statement goes deeper than that. The quote highlights that cryptocurrency is intricate, complicated, and that there is a lot to learn. After all, that’s what nerds love to do – learn some of the most interesting information. Of course, as McAfee shared in an article with a popular crypto news site, the complicated quality of the technology may make it “too complex for the average individual.”

2. “I really like Bitcoin. I own Bitcoins. It’s a store of value, a distributed ledger. It’s also a good investment vehicle if you have an appetite for risk. But it won’t be a currency until volatility slows down.” —David Marcus, CEO of Paypal

Normally, the thought process is that if people in prominent positions adopt the technology, then they may be on to something. Here, Paypal’s own CEO explains that cryptocurrency may be a good investment vehicle, but he also recognizes that for the cryptocurrency to succeed, it needs to become far less volatile. And there are signs that the volatility will continue through this year.

3. “It’s a fraud” and “worse than tulip bulbs” – Jamie Dimon, CEO of JP Morgan

This is an interesting statement, especially in light of JPMorgan’s venture into the space with its creation of the JPMorgan Coin. This suggests that perhaps the banking entity is not completely unopposed to incorporated the technology into the company’s practices. On the other hand, Dimon’s personal beliefs may be another matter.

4. “Bitcoin actually has the balance and incentives center, and that is why it is starting to take off.” – Julian Assange, founder of Wikileaks

Another pro-bitcoin quote comes from Julian Assange. Interestingly, there was a point when payment processors began denying WikiLeaks their services, the platform turned to bitcoin donations in order to survive and it seems to have worked. The bitcoin help has led Assange to take a positive stance toward bitcoin.

5. “I see Bitcoin as ultimately becoming a reserve currency for banks, playing much the same role as gold did in the early days of banking. Banks could issue digital cash with greater anonymity and lighter weight, more efficient transactions.” – Hal Finney

Bitcoin seems to have “planted the seed” so to say, for the idea that fiat currency and gold are not the only stores of value – there are many other options out there, bitcoin being one of them. This quote shows that digital cash may be an option and that banks may want to consider venturing out of the traditional modes of currency into something that may provide a range of benefits.

6. “Stay away from it. It’s a mirage, basically. In terms of cryptocurrencies, generally, I can say almost with certainty that they will come to a bad ending.”—Warren Buffet, CEO of Berkshire Hathaway

Warren Buffet has stayed consistent when it comes to his stance against Bitcoin. The naysayers, just like those who are pro-bitcoin, are entitled to their opinion. Moreover, at this point, whether bitcoin survives is only something that will be known in the future. True, there are indicators of bitcoin’s future, but they are what they are – only indicators.

7. “If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.” – Satoshi Nakamoto

This is one of the earlier statements made by Nakamoto and he does have a point. For those who don’t believe in it, then they may be missing out and those who are following the trend don’t have time to convince others to follow suit.

8. “Still thinking about #Bitcoin. No conclusion – not endorsing/rejecting. Know that folks also were skeptical when paper money displaced gold.” —Lloyd Blankfein, CEO of Goldman Sachs

This quote highlights that there are those who are weighing the viability of bitcoin, but who decline to make a solid decision. It also recognizes that with new technologies, pushback and skepticism are just natural parts of the technology’s transition into the larger space.

9. “Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.” —Bill Gates, Co-Founder of Microsoft

This quote recognizes some of the best aspects of Bitcoin – that it is digital, and it provides for large transactions and more convenience during the process.

10. “I think the internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing but that will soon be developed, is a reliable e-cash.” –Milton Friedman

This quote is not directly related to bitcoin and Friedman made this statement well before bitcoin’s advent, but it suggests that there are those who thought ahead and saw the value of electronic cash. And here, it’s not just anyone who made the statement, but Milton Friedman, a Nobel Prize in Economic Sciences recipient.

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