Bitcoin’s [BTC] value is derived from social consensus and its ‘uncensorable’ aspect, claims Samson Mow

2019-5-28 12:30

With the cryptocurrency industry being the topic of discussion between peers and crypto-enthusiasts, Bitcoin [BTC] has now become the predominant asset in the crypto-verse. It is the most popular crypto today and is reputedly backed by major personalities. However, most people still fail to understand what value resides within the largest crypto-asset.

Samson Mow, CSO at Blockstream, gave his input on the subject during an interview recently and suggested that “social consensus” gave Bitcoin its intrinsic value.

He said,

“Social consensus is what drives the value up for a lot of money. Why does gold have value? Yes, we can make jewelry out of it but it is largely because we decide that it’s valuable for various reasons like it’s shiny, it does not rust, etc, etc.”

Mow also stated that Bitcoin was valuable because it was a non-correlated asymmetric return asset, which was also “uncensorable” as it was impossible to block Bitcoin transactions.

Mow insisted that Bitcoin was a good store of value and stated that people who invested in Bitcoin two years ago would currently be holding an amount four times their original investment. He pointed out that a lot of Bitcoin’s media critics focus on the coin’s volatility, which was based over a month or a week, but was not an indication of long-term growth.

He added that Bitcoin was not necessarily required for only countries with weak economies, but could be utilized by developed countries as well because it was really easy to create transactions on the Bitcoin blockchain.

He said,

“Bitcoin doesn’t close on the weekend or holidays. And you know if you are doing an international wire transfer, there are a lot of pain points in terms of high fees. With Bitcoin, you can send millions of dollars, for just a dollar probably.”

Finally, Mow mentioned that user experience in crypto-assets had its own challenges currently, including managing their keys, which was difficult. However, he said that the community was moving in the “right direction” as developments were being carried made to make things easier and to initiate better key recovery technology.

The post Bitcoin’s [BTC] value is derived from social consensus and its ‘uncensorable’ aspect, claims Samson Mow appeared first on AMBCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) íà Currencies.ru

$ 67220.4 (+0.37%)
Îáúåì 24H $15.716b
Èçìåíåèÿ 24h: 0.35 %, 7d: 10.60 %
Cåãîäíÿ L: $66856.94 - H: $67251.24
Êàïèòàëèçàöèÿ $1324.264b Rank 1
Öåíà â ÷àñ íîâîñòè $ 8688.33 (673.69%)

mow bitcoin samson btc value social consensus

Èñòî÷íèê: ambcrypto.com

mow bitcoin → Ðåçóëüòàòîâ: 46


Riccardo Spagni Discusses Bitcoin and Monero’s Native Token Supply in Recent Podcast

Blockstream CSO Samson Mow, recently appeared on the latest iteration of the Magical Crypto Friends Podcast where he discussed his firm's latest “Green wallet” offering. Additionally, during the course of the conversation, podcast hosts Monero's Riccardo Spagni and Litecoin Creator Charlie Lee went on to discuss a number of other events/topics currently surrounding the world […]

2019-4-14 17:37


Monero’s [XMR] Riccardo Spagni gives insight into Bitcoin and Monero’s supply

Samson Mow, the CSO of Blockstream, recently spoke about Blockstream’s Green wallet, on the latest episode of Magical Crypto Friends. Magical Crypto Friends is a series where Samson Mow, Riccardo Spagni, core developer of Monero, WhalePanda, a Bitcoin proponent, and Charlie Lee, Creator of Litecoin, discuss the events surrounding the cryptocurrency space.

2019-4-14 04:30


Tron’s [TRX] Justin Sun a good example of ‘fake it till you make it,’ says Samson Mow

Justin Sun, CEO and Founder of Tron Foundation, was the subject of discussion on the latest episode of Magical Crypto Friends. Riccardo Spagni, the lead maintainer of Monero, Charlie Lee, the creator of Litecoin, WhalePanda, a Bitcoin influencer, and Samson Mow, the CSO of Blockstream, discussed the failed Tesla giveaway and Justin Sun’s keynote at […] The post Tron’s [TRX] Justin Sun a good example of ‘fake it till you make it,’ says Samson Mow appeared first on AMBCrypto.

2019-4-14 02:30


Bitcoin [BTC] halving will not help Bitmain’s case, claims Blockstream’s Samson Mow

Bitmain, the Beijing-based cryptocurrency mining company, recently called off its plan to formally go public with its IPO application at the Hong Kong Stock Exchange after it lapsed. The IPO listing was predicted to be the world’s largest crypto-related IPO, but the collapse of the application added to the news of the firm’s economic retrenchments.

2019-3-28 17:30


Ôîòî:

Bitmain Reportedly Will Sack More Than Half of Workforce

The Chinese crypto mining company Bitmain has apparently been hit hard by the bear market and is looking to sack more than half of their entire workforce. Credible rumors of this story first began to circulate on Maimai, China’s equivalent to LinkedIn, as anonymous sources on a site frequently used by Bitmain employees began reporting that the company was looking at massive layoffs in the next several days.

2018-12-29 21:20


Ôîòî:

Bitmain Reportedly Will Sack Up to 85 Percent of Workforce

The Chinese crypto mining company Bitmain has apparently been hit hard by the bear market and is looking to sack more than half of their entire workforce. Credible rumors of this story first began to circulate on Maimai, China’s equivalent to LinkedIn, as anonymous sources on a site frequently used by Bitmain employees began reporting that the company was looking at massive layoffs in the next several days.

2018-12-27 21:20


Bitcoin Cash (BCH) on the brink of an abyss while Bitcoin Core releases new update

Bitmain fires entire BCH-focused Copernicus team A tweet made by a Chief Strategy Officer at Blockstream and former BTCC Chief Operational Officer Samson Mow suggests that Chinese Bitcoin mining giant Bitmain followed up on recent downsizing reports and laid off its entire Copernicus team, which was working on the development of Bitcoin Cash client.

2018-12-26 07:18


Ôîòî:

Èñòî÷íèêè: Bitmain íà÷àëà ìàññîâîå ñîêðàùåíèå ñîòðóäíèêîâ

Äèðåêòîð ïî áåçîïàñíîñòè áëîê÷åéí-ñòàðòàïà Blockstream Ñàìñîí Ìàó (Samson Mow) ñîîáùèë ñî ññûëêîé íà êèòàéñêèå ñîöñåòè îá óâîëüíåíèè ìàéíèíãîâîé êîìïàíèåé Bitmain ñâîåé êîìàíäû ðàçðàáîò÷èêîâ Bitcoin Cash (BCH).

2018-12-24 17:15


Ôîòî:

“Bitmain Is Restructuring,” But Jihan Wu Still a Board Director: Source

Bitmain has denied reports that its CEO Jihan Wu was ousted as the mining firm’s board director while confirming that the board has undergone restructuring. Setting the record straight, Nishant Sharma, international marketing manager of Bitmain Technologies Limited, told Bitcoin Magazine that, instead of losing his position, Wu will continue on as a co-director of the board amidst a wider reorganization.

2018-11-15 21:26


Blockstream’s Samson Mow: Bitcoin ETF Approval Can Happen Faster with LN Sidechain Project

Samson Mow Believes Bitcoin ETF Could be Sped Up With Blockstream Sidechain Project According to Samson Mow, a Bitcoin ETF could be sped up with Blockstream sidechain project. Mr. Mow is the CSO of Blockstream and was talking during an interview about the current state of the famous virtual currency. Additionally, he gave a potential […]

2018-9-7 06:03


Ôîòî:

‘Extinguishing Capacity’: Bitcoin Could Swallow All M1 Fiat At $223K Per Coin

$223,186 is the price Bitcoin would need to be in order to convert the entire world supply of fiat currency, industry figures calculated July 2. M1 Fiat Could Go At Less Than $250k Part of an ongoing debate on social media, Blockstream CEO Adam Back and CSO Samson Mow joined Bitcoin Think editor Beautyon in discussing the phenomenon of ‘hyperbitcoinization’ – the as yet untested process by which consumers abandon fiat en masse for Bitcoin.

2018-7-3 00:00


Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Picasso’s Granddaughter: Our Family Will Continue Producing NFTs

Marina Picasso – granddaughter of the renowned painter and sculptor Pablo Picasso – said she and her son Florian will continue launching NFT collections depicting the artist’s work. The digital collectibles caused disputes among the family as some members did not agree with the initiative.

Golden Globe-Winner John Legend to Introduce NFT Platform for Musicians

The renowned singer, songwriter, and producer – John Legend – launched a non-fungible token (NFT) platform for musicians and entertainers. His partners in the initiative are Chris Lin – the man in charge of the digital music service KKBOX, Kevin Lin – Co-Founder of Twitch, and Matt Cheng – Founder of Cherubic Ventures.

GameStop to Launch a Blockchain-based NFT Marketplace

The American video game retailer – GameStop Corp. – partnered with Immutable X Pty Limited (a scaling solution for non-fungible tokens) to establish an NFT marketplace. As part of the deal, both parties created a $100 million fund.

Bitcoin Cash hard fork BCHA faces 51% attack

The recently forked BCHA chain is currently under attack by an anonymous miner that is attempting to force whatever is left of the chain into non-existence. The anonymous miner, known as voluntarisThe post Bitcoin Cash hard fork BCHA faces 51% attack appeared first on AMBCrypto.

Data clarifies why 2020 is a defining year for Bitcoin

The entire asset class is tied together. Whenever Bitcoin rises there is a certain inevitability of other altcoins rising along with it. It happened in 2017 and now it is happening in 2020. Over thThe post Data clarifies why 2020 is a defining year for Bitcoin appeared first on AMBCrypto.

Why we can't rule out Bitmex from the Bitcoin game just yet

For BitMEX, it hasn't been the best of years from a popularity perspective. First, it faced massive criticism during the March 13th crash, when traders lost money due to an alleged DDOS attack, andThe post Why we can't rule out Bitmex from the Bitcoin game just yet appeared first on AMBCrypto.