Glenn Fleishman, frequent contributor to The Economist, takes a closer look at Marc Andreessen’s recent NY Times opinion piece about Bitcoin.
Marc Andreessen wrote an essay for the New York Times about Bitcoin, “Why Bitcoin Matters,” in which he attempts to explain the relevancy of the digital currency for the future of commercial transactions. He uses analogies, allegories, history, and ostensible facts to build his case.
However, I believe he fundamentally misrepresents or misunderstands key aspects of the technology, ecosystem, and impact, despite Andreessen Horowitz, of which he is a founding partner, having just under $50m in investment fully disclosed in “Bitcoin-related startups.” I own no Bitcoins; Marc has a “de minimis” amount. I will note that someone owning Bitcoin investments and not Bitcoins is the same as owning gold-mine investments and no gold.
via On the Matter of Why Bitcoin Matters — The Magazine on Medium — Medium.