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“I underestimated Bitcoin,” says PayPal co-founder

“I underestimated Bitcoin,” says PayPal co-founder



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  1. It was summer 2014. For my first crypto purchase I dumped my PayPal balance on some exchange selling SLLs (Second-Life Lindens) and immediately exchanged it for Bitcoin. Never went back.

  2. He also underestimated the anti fragility of the very old world institutions he just spent the last decade trying to tear apart and replace with centralised tech bro shareholder driven monopolies he and his pals in their self styled ‘intellectual dark web’ thought they were going to reign over as ’emperor immortals’ for the rest of eternity :p

    Indeed, some of those institutions he and his pals have been throwing pseudo intellectual bricks at through useful idiots on podcast networks, are the very institutions who fought for decades to usher in the very civil rights (such as gay marriage) he and his husband take for granted every single day.

    ProTip: If you’re going to take advice from techies in this space, perhaps listen to those that were there at the beginning of the home computer revolution, the internet and Bitcoin itself – They are people who actually studied computer science, fell in love with open source and understand why Sir Tim Berners-Lee gave the web to humanity for free and without a patent… as opposed to Ivy League Stanford elites and digital land barons with unrelated degrees who saw computers and the web as nothing but money printing machines.

    [*Nullius in verba*](https://royalsociety.org/about-us/history/)

    “Competition is for losers [Monopolies are a good thing]” — Peter Thiel

    “Closed systems are at the mercy of gatekeepers having guessed at the optimal solution; whereas open systems allow the ecosystem itself to find the optimal solutions” — Dick Costolo (founder Feedburner / former CEO of Twitter)

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