Marc Andreessen Defends Bitcoin on Twitter in Latest Tweetstorm

Marc Andreessen

Marc Lowell Andreessen (born July 9, 1971) is an American entrepreneur, investor, and software engineer. He is best known as coauthor of Mosaic, the first widely used Web browser; as cofounder of Netscape Communications Corporation;and as cofounder and general partner of Silicon Valley venture capital firm Andreessen Horowitz. He founded and later sold the software company Opsware to Hewlett-Packard. Andreessen is also a cofounder of Ning, a company that provides a platform for social networking websites. He sits on the board of directors of Facebook, eBay, and HP, among others. A frequent keynote speaker and guest at Silicon Valley conferences, Andreessen is one of only six inductees in the World Wide Web Hall of Fame announced at the first international conference on the World Wide Web in 1994. SOURCE - WIKIPEDIA

blockquote class=twitter-tweet lang=enp1/Some thoughts on the state of Bitcoin, cryptocurrencies, and distributed transaction and trust networks at start of 2015!/pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552186222559244288January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp2/A year ago I articulated my views on Bitcoin in the New York Times, and I wouldn#39;t change a word today: a href=http://t.co/2yuRx724ZJhttp://t.co/2yuRx724ZJ/a/pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552186359583363072January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp3/Over the last several months of 2014, there were three Bitcoin counter-narratives that I will describe and analyze:/pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552186718833504256January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp4/First, what I call the quot;dumbquot; critique: quot;Bitcoin BTC currency price dropped to below $300, proving Bitcoin is a stupid idea.quot;/pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552187076955762689January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp5/Same class of critics slamming BTC for price falling in 2014 were slamming BTC for price rising in 2013. Only consistency is the slamming./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552187891279859712January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp6/Further, the critique that BTC is bad because it was down in 2014 changes completely if one uses a 2-year window instead of 1-year window./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552188162034790400January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp7/BTC was below $14 in Jan 2013. If 1-year performance has been disappointing, 2-year performance has been spectacular./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552188294662848512January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp8/As a general rule, arguments that rely on cherry-picking specific date windows are not very good arguments./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552188548569251840January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp9/The second critique I call quot;smarterquot;: quot;BTC is too volatile -- it goes up and down too much and so cannot be used as a store of value.quot;/pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552188910562848768January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp10/This is largely correct at the moment, and yet misses most of the point of Bitcoin as a distributed transaction and trust network./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552189226146471936January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp11/Bitcoin was specifically designed to use speculation early on to overcome the normal chicken/egg boostrapping problem for new networks./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552189684453867520January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp12/Attacking Bitcoin for having speculative levels of volatility is missing the point of how the system was designed for this point in time./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552189796592795648January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp13/Now, yes, in the long run, BTC does need to stabilize -- which I think will happen with a combo of scale + use of derivatives (hedging)./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552189957658271744January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp14/In the short run, Bitcoin is still highly useful as a transaction and trust network in many uses cases even with high volatility./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552190089351032835January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp15/For example, payment applications of BItcoin don#39;t require users/merchants to hold BTC for any period of time. All benefits still gained./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552190405937074178January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp16/Further, all other uses cases of Bitcoin and the blockchain are unhampered by volatility of BTC. The system continues working just fine./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552190596475940864January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp17/Net net, the network boostrapping process is happening pretty much exactly as Satoshi designed and anticipated. It#39;s a thing of beauty./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552190839808487424January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp18/The third critique I call the quot;innocentquot; one -- quot;Are there enough sufficiently compelling uses cases for Bitcoin to succeed at scale?quot;/pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552191050740019200January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp19/I previously identified many uses cases here a href=http://t.co/UHQL5HQQ2Ohttp://t.co/UHQL5HQQ2O/a ranging from ecommerce to remittance to micropayments to anti-spam./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552191745157369856January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp20/Two particular areas of focus today are A use outside the US where currencies + banks are often awful, and B machine-to-machine payments./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552191932097523715January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp21/At our venture firm, we continue to see an escalating stream of fascinating new Bitcoin uses cases and applications from entrepeneurs./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552192167351820288January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp22/In addition, there are entirely new vistas of technological creativity opening up, such as sidechains a href=http://t.co/KLLKVtr6dEhttp://t.co/KLLKVtr6dE/a./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552192426920525826January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp23/The price of BTC has very little to do with the level of creativity of thinking that#39;s going into new Bitcoin apps, or their usefulness./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552192572668399617January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp24/By loose analogy, the price of domain names didn#39;t determine the usefulness of the Internet. This is a broad-based technology phenomenon./pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552193053700538368January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none lang=enp25/What to watch in 2015: New apps, new use cases, international adoption, consumer education, technological innovation amp; spinoff ideas!/pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552193290787758080January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script

blockquote class=twitter-tweet data-conversation=none data-cards=hidden data-partner=tweetdeckp26/Final thought: The entire Bitcoin system is 6 years old. TCP/IP was 6 years old in 1981. Big things take time. Onward!/pmdash; Marc Andreessen (@pmarca) a href=https://twitter.com/pmarca/status/552196753949073408January 5, 2015/a/blockquote script async src=//platform.twitter.com/widgets.js charset=utf-8/script


We do not serve ads. Tips are always appreciated: 18wJZi9JLA5xBB6xe93PKtexzZjmZc6wb6