10 Quotes That Will Open Your Eyes to the Importance of Bitcoin for the World of the Future
In my book "The Truth About Bitcoin", I devote an important section to analyzing 10 quotes from well-known people in the tech world about Bitcoin.
These 10 quotes will help open your eyes to the importance of Bitcoin for the world of the future.
In what follows I share with you a very specific quote from Marc Andreessen on Bitcoin's incredible network effect:
“In fact, Bitcoin is a four-sided network effect. There are four constituencies that participate in expanding the value of Bitcoin as a consequence of their own self-interested participation. Those constituencies are (1) consumers who pay with Bitcoin, (2) merchants who accept Bitcoin, (3) “miners” who run the computers that process and validate all the transactions and enable the distributed trust network to exist, and (4) developers and entrepreneurs who are building new products and services with and on top of Bitcoin.”
Marc Andreessen is an American entrepreneur and investor, but also a software developer famous for creating Mosaic. As a reminder, Mosaic was the first popular web browser in the world.
He then co-founded Netscape. He is now a general partner of Silicon Valley venture capital firm Andreessen Horowitz.
In addition to these activities, Marc Andreessen has been a strong supporter of Bitcoin since its early days. He has been explaining for a very long time that Bitcoin is the future regarding money. When asked in the past why Bitcoin was going to be a resounding success, Marc Andreessen emphasized the four-sided network effect of Bitcoin.
Consumers will pay for Bitcoin through merchants who will accept Bitcoin as a means of payment. Then, the Bitcoin miners will make their computing power available to the network so that blocks can be mined and transactions can be executed correctly.
Finally, the developers and entrepreneurs who will be encouraged to build new products and services on top of the Bitcoin Blockchain.
This network effect will only increase the utility of Bitcoin over time. Bitcoin should be seen as a monetary network that can change the world in terms of money.
More details here: https://www.the-truth-about-bitcoin.com/