Agree with bitcoin is because of network effects

Agree with bitcoin is because of network effects

Last week, O’Reilly media in San Francisco Marina held bitcoin blockchain with the theme of the meeting, gathered a large number of entrepreneurs, investors and crypto currency enthusiasts, but the most noticeable, probably from LinkedIn founder Reid Hoffman (Reid Hoffman).

When Hoffman and the chief executive of XAPO Wences Casares with the discussion, he said:

“A very interesting question about bitcoin, it will be the first or last encryption currency? All this is due to the network effect.”

Hoffman pointed out that behind bitcoin has a strong community, which makes him believe that bitcoin may have a lasting impact. As an investor, especially recently, he participated in the first round of bitcoin startups Blockstream financing of $21 million, which shows that he is full of confidence in its future.

He added: “the reason is the network effect for it.”

OReilly as the meeting organizer, it is one of the pioneers of open source publishing books, often hosted many open source community conference. The purpose of the meeting is to promote innovation and technology bitcoin blockchain. It is worth noting that this is the first bitcoin conference held aolaili.

Network effects

Hoffman said, according to the relevant media reports recently, bitcoin is one of the best currency in the world, of course, he also said, “we do not offer investment advice.”

Casares XAPO, his company had won the Hoffman’s Greylock investment, he provides some statistics about the bitcoin network effectively.

Casares said: “there are about 10 million people who hold bitcoin, there are 1 million people in the use of it, we can see bitcoin, is the user and exchange the network effect.”


In addition, the founder of Tim Reilly O’Reilly also made a brief introduction, he said:

“Open source systems is that they really touched me full of vitality, which is attracting attention bitcoin and its technology, and held the meeting.”

Famous investor, Anderson Horowitz’s partner Balaji Srinivasan (recently participated in the Coinbase investment), he added:

“People say that bitcoin will be banned, this theory will be proved wrong, I don’t think anyone will try to ban the NYSE (NYSE).”

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