hosted by Goldman Sachs, video link here.
Bitcoin is payments as packets. Not paper-based money, packet-based money. A natural fit for the internet. Permissionless innovation, massively transformative as any node that can get online can transfer value.
Bitcoin as a protocol is why we compare its potential scale to the internet in terms of its impact.
Bitcoin isn't the USD, but it could be the reserve currency for the Internet. There is no yet-undiscovered killer app, its called bitcoin and is 6 years old.
Bitcoin is a programmable unified way of transferring value, beyond currency but keys to locks, contracts and financial securities.
Before btc, telco's intermediated sending/receiving packets. Barriers to entry for information transfer were/are very high. Bitcoin removes those barriers by enabling peer to peer.
Banks were required to transfer value, but not any node that can connect to the internet can transfer value. Anything of value can be transfered. Keys, money, info.
Bitcoin wallets work like email. You have a public address that people can send to, and requires your personalized (secure) password to read it.
Banking for machines: each entity or device can now have a bitcoin wallet. Mind-blowing possibilities to utilize this.
Bitcoin is growing fast, w/ 4-sided network effects.
Is misguided. Bitcoin provides a valuable incentive to mine the blockchain. Without a valuable token as reward, the miners will contribute their CPU elsewhere. Chicken and Egg, bitcoin appears to have already won.
The concept of blockchain is not likely separable from bitcoin.
There could be alt or coloured coins, but their survival will be dependent on the perceived value of reward token.