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It’s much easier to criticize than it is to create …

Biggie has something to say about the hater phenomenon on
My Downfall, lyrics here
http://www.youtube.com/watch?v=32vdp3T5MGA

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“Whether you think you can, or you think you can’t, you’re right.” – Henry Ford

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In an interview with WIRED magazine, Google CEO Larry Page explains why he thinks it’s so important to pursue big ideas:

I feel like there are all these opportunities in the world to use technology to make people’s lives better. At Google we’re attacking maybe 0.1 percent of that space. And all the tech companies combined are only at like 1 percent. That means there’s 99 percent virgin territory. Investors always worry, “Oh, you guys are going to spend too much money on these crazy things.” But those are now the things they’re most excited about—YouTube, Chrome, Android.
If you’re not doing some things that are crazy, then you’re doing the wrong things.

In fact, Google has set up an entire separate division known as Google X dedicated solely toward these ‘moon-shots’ – from self-driving cars to Project Loon, an initiative to bring internet access to everyone by creating an internet network of balloons flying through the stratosphere.

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A Turing-Complete system means a system in which a program can be written that will produce the result of any calculation (although with no guarantees regarding runtime or memory).

Turing Completeness is named after Alan Turing – the British mathematician, logician, and cryptanalyst – who is widely considered the father of theoretical computer science and artificial intelligence.

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When you kill the world’s first general-purpose computer, you kind of have it coming

George Biddell Airy caricatured by Spy in Vanity Fair November 1875

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Trial model of a part of the Analytical Engine, built by Babbage, as displayed at the Science Museum in London.

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For Merchants

  • their first $1,000,000 in payment processing is free on Coinbase.

  • they pay only 1% to cash out.

  • chargebacks don’t exist.

  • there is no exchange rate risk.

Over 16,000 merchants accept Bitcoin. Some of the those more well-known include:

  • OkCupid
  • Khan Academy
  • Reddit

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Timeline of Coinbase traction

  • On August 1st, Coinbase reached 200,000 users.
  • In mid-October, Coinbase reached 300,000 users
  • On December 12th, the day they raised $25M, Coinbase reacehd 600,000 consumer Bitcoin wallets.
  • Coinbase is is averaging 10,000 new customer sign-ups a day.

On January 9th, 2013, Coinbase partnered with Overstock.com to allow customers to pay with bitcoin. Overstock.com was the first major online retailer to embrace the digital currency. Within the first hour of launching, the site saw over 150 orders paid with bitcoin.

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Fred Wilson of Union Square Ventures, one of the firms that invested in Coinbase along with Andreessen Horowitz, wrote in a post advocating for Bitcoin Black Friday:

“When the citizens of the world will be able to buy and sell from each other and from retailers of all shapes and sizes via Bitcoin, then we will have truly realized the potential of a global digital currency."

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The same VC that invested $15M in Rap Genius!

Marc Andreessen and Ben Horowitz, “true fam” – @Maboo

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