Tech Visionaries Predict One Global Cryptocurrency: Bitcoin
NEW YORK (InsideBitcoins) – Reid Hoffman can spot a technology trend. The founder of LinkedIn worked at Apple, was on the board during the funding of PayPal – and his first company, SocialNet.com, was a social network before social networks were cool. He’s invested in Facebook, Airbnb, Flickr and many others. Needless to say, his appearance at the Bitcoin & the Blockchain summit in San Francisco last week was the highlight of the event for many attendees.
Appearing with Wences Casares, the co-founder and CEO of bitcoin wallet and vault Xapo, the two engaged in a wide-ranging and casual conversation that included cryptocurrencies, network effects and the price of bitcoin. Casares has an impressive resume as well, launching the first ISP in his home country of Argentina, and an online financial services portal which he sold to Banco Santander for $750 million in 2000.
The discussion began with a discussion of where bitcoin fits in the cryptocurrency scheme of things.
‘You have about 90 cryptocurrencies that have some form of traction, buyers and sellers – all of those cryptocurrencies combined have about 50,000 users. Where bitcoin is at about twice that in new users a week,’ Casares said. ‘All of the cryptocurrencies were about 50% of the volume a year ago. And today, bitcoin is more than 90% of the volume.’
This post was published at Inside Bitcoins on Feb 2, 2015.