Eric Weinstein reflects on the nature of Bitcoin

Bitcoin enthusiast Eric Weinstein reflects on the nature of cryptocurrencies and how they impact our reality.

Eric Weinstein, the director of Thiel Capital, reflects on Bitcoin (BTC) in an interview for CoinDesk. During this meeting, the businessman will try to explain what, according to his point of view, the nature of the cryptocurrency.

Weinstein begins the interview by ensuring that the most impressive thing about BTC is that he had confirmed that it really worked in real life. It is true that, at the beginning, many had doubts about how useful a digital currency would be in the “real world.” However, Bitcoin has shown that it is as useful as traditional currencies such as the dollar or the euro.

Another point that Weinstein points out is that the interesting thing, both of BTC and Blockchain, was that it allowed the user to have valuable assets without the need of a central authority. And it is this point that ended up convincing a large part of the crypto community to adopt encryption.

“I think what they have to do is think that this is a completely new source of innovation.”

During most of the interview, the businessman mentioned different aspects that made Bitcoin an interesting bet. Among them was that cryptocurrencies and Blockchain represented the way “physical goods became logical” or digital goods.

The most interesting is what we have not yet built

At one point, the interviewer, Leigh Cuen, asked him if he was a follower of the Austrian School of Economics, since many of his thoughts seemed to be consistent with it. Given this, Eric Weinstein replied that, although he shared with some principles of the school, he did not fully commune with it. But from this comment came a new approach of the entrepreneur:

“I think the most interesting economy is the one we haven’t built yet.”

This shows that Weinstein is one of those innovative people who don’t conform and always try to get something else. Something better. In the case of the new economic school, the entrepreneur says it would be good to include it in the banks’ modern paper. That, if cryptocurrencies gain popularity, that of these financial institutions will lose importance.

In addition, he believes that the people in charge of building this new school should be aware and include the role of new technologies.

At the end of the interview, Weinstein warned that one needs to be very attentive to what is created. Especially in the crypto industry. Since, once it is launched, there is no idea how it can behave or what consequences it will bring.


Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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