Marc Andreessen On Why Bitcoin Matters (And A Critique)

New submitter Ramtek writes "Marc Andreessen writes an interesting editorial on how he how he believes Bitcoin is the first practical solution to the Byzantine Generals Problem and why that is important. He also addresses many of arguments against its future by its critics such as its current limited use by ordinary consumers, its current volatility, its potential lack of acceptance by merchants, and many other issues. While politically agnostic the piece is squarely in support of Bitcoin but presents a more mature perspective than many current Bitcoin editorials." eggboard wrote in with a rebuttal: "Marc Andreessen wrote an essay in the New York Times in which he tried to make the case for Bitcoin going mainstream for payments, if not as a currency. After comparing Bitcoin to the rise of personal computers and the Internet, he tries to explain how it eliminates fraud and will solve global money transfers and the plight of the unbanked. I wrote a critique of these and other points in his essay."

Comments

Bitcoin is a sham

[sl4shd0rk]

If you wanted to make money on Bitcoin, you needed to be into it 10 years ago Now, The only people making money on Bitcoin from here on out will be:

- People who mined early and gleaned many easy coins
- People with deep pockets for expensive gear (US Gov)
- People selling gear with the promise of striking it rich