27 Quotes by Erik Voorhees

Digital currency is now a misnomer for Bitcoin. It can be used as currency, but it can be used for many things.

Bitcoin is two things which share a name. One, it's a payment system, and two, it's a currency. You use the Bitcoin payment system to send bitcoins as currency from one account holder to another. The transfer is instantaneous, carries no fee, works anywhere in the world, and is private.

Cryptocurrencies allowed non-custodial exchange, without users having to sign up or create accounts.

Credits in your PayPal account are really just USD-backed - they are not a unique currency themselves. Other 'digital currencies,' such as Facebook Credits, can be created out of nothing and without limit, so they are not serious money.

The value of Bitcoin is astronomical, but the price goes all over the place as a million buyers and sellers try to figure out what that value is and how likely it is to manifest.

Personally, I had over 550 BTC in Gox. I will never get any of that back.

Most 'digital currencies' are not really digital currencies at all.

In the longterm for Bitcoin, Gox needed to go away.

Unfortunately, slow and steady in any financial market is actually impossible.