21 company chairman: bitcoin to PayPal like Linux to Windows

21 company chairman: bitcoin to PayPal like Linux to Windows

Two bitcoin recruitment participants received some new details about the mysterious 21 start-up companies are developing business, these details are 21 company chairman Balaji Srinivasan (Andreessen Horowitz partner) revealed a public conversation rare in the bitcoin recruitment meeting in.

Although no big reveal, but Srinivasan in detail about his vision for the larger bitcoin technology, also believes that digital currency will be successful, but also mentioned some extended topics related with law and network.

As the conversation wide arch is consistent, Srinivasan first tries to describe the development of bitcoin is equivalent to the Internet, told the audience:

“In Andreessen Horowitz’s theory, bitcoin is a kind of agreement, payment is one of the bitcoin application. Bitcoin will always go on.”

Srinivasan also predicts that the society is rapidly moving towards a everyone can spread value like information in the future, this means that anyone with an Internet connection will be connected to the financial system.

“Bitcoin like tulips, you can go anywhere as much as what kind of thought.”

Bitcoin will always go on

Overall, the report seems to spread an impression that bitcoin network is an irresistible pace in growth, Srinivasan quickly published a series of topic and topic, no more in-depth discussion of a topic.

Srinivasan said bitcoin now towards the organization acceptance stage, and that the organization is gradually realize that they need to adopt bitcoin strategy, because bitcoin is the strong momentum and the risk of investment may this year is expected to exceed $1 billion.

Srinivasan believes that due to the bitcoin open source model, which will overcome the existing financial system model. Srinivasan is also using the Internet early examples to prove the point of his.

“Bitcoin to PayPal like Linux to Windows. It is open, distributed and programmable. We are from the land line to the IP address, also from the personal bank account to machine bitcoin wallet.”

Srinivasan also spent some time to refute he considered to be the most common in the bitcoin ecosystem “meme” one, namely the block chain need not bitcoin, or do not need to open distributed books tokens as a reward.

Srinivasan said:

“One way to understand the mining is to do the transaction, in return, you can add a deposit for yourself. In order to let the blockchain exist, the token introduce at least also need to set up under the model we have.”

He said: “we believe that this system will be the current bitcoin, in addition there is no other”

A hint of Srinivasan. He believes that bitcoin network problems can be solved, given bitcoin open source and global bitcoin on collaborative development.

Bitcoin is open. Confirm the time of ten minutes can be changed.”

Srinivasan dismissed the 51% attack point, namely the miners take control or destroy malicious books, such as “exaggerated”, and said there have been technical solutions is proposed.

Legal issues have also been rejected, because the “technology as a whole is not prohibited”.

“If there are legal issues? I think this is in 2013 is a reason to pay attention to the problem, but I think that today is no longer a problem worthy of attention.”

He will be the United States government in the auction sale of confiscated bitcoin acts as the “implicit sanctions” and signed acceptance mechanism.

“A lot of people think bitcoin will face control. In this regard, both the neutral point of view, there is a positive view. The Senate hearing at the end of 2013 so that this problem has a real change.”

The price

Although the speech focused development in the network infrastructure and health issues, but the speech finally, Srinivasan pointed out that the biggest problem facing the bitcoin currency itself is weak price.

This problem will be solved partly by network own built-in reward program, in this network its built-in reward program, the miners will be rewarded for helping bitcoin transaction processing.

“If you come up with bitcoin transactions in dollars, the price is concerned, this is not very good. But if you have a circulatory system, you can get from bitcoin value rather than sell bitcoin.”

To further emphasize that Srinivasan uses “buidl not hodl” (original), which said he believed that the coins as a purely speculative, but, for the behavior of the network.

Properly speaking, Srinivasan in the conversation at the end of 21 the company directly implies that are currently doing:

“Bitcoin was the most important problem we can build such a circulation system?”

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