A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

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“Some days you’re the pigeon, and some days you’re the statue” (7/21)
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“Why shouldn’t you hire a midget chef?"/"The steaks are too high.” (7/21)
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Entry from April 30, 2013
Gold 2.0 (bitcoin nickname)

Bitcoin is a digital currency; it has been called “Gold 2.0,” an improvement over holding gold. “Gold 2.0: can code and competition build a better Bitcoin?” was written by Joshua Kopstein on April 23, 2013 on The Verge.

The term “Gold 2.0” was popularized by Chamath Palihapitiya, who runs The Social + Capital Partnership. In an article published April 29, 2013, he said:

“I personally own Bitcoin in my hedge fun, I own Bitcoin in my fund, I own Bitcoin in my private account. It is a huge deal. It’s a huge, huge, huge deal. Because what you’re talking about right now is, for the next three to five years, an unbelievably better stored value. It is gold 2.0. Right? The value of gold that hedges the world economy, about $9 trillion, right? Thirteen hundred an ounce, of which only a hundred to a hundred and fifty dollars is the actual production value. So all the rest is imputed….”


Wikipedia: Bitcoin
Bitcoin (BTC) is a digital currency first described in a 2008 paper by pseudonymous developer Satoshi Nakamoto, who called it a peer-to-peer, electronic cash system. Bitcoin creation and transfer is based on an open source cryptographic protocol and is not managed by any central authority. Each bitcoin is subdivided into 100 million smaller units called satoshis, defined by eight decimal places.[4] Bitcoins can be transferred through a computer or smartphone without an intermediate financial institution.

The Verge
Gold 2.0: can code and competition build a better Bitcoin?
Zerocoin and Ripple present two ways to improve the ailing crypto-currency

By Joshua Kopstein on April 23, 2013 09:30 am
Bitcoin has had a wild ride these past few months. The stateless digital currency’s price has soared to new heights only to plunge back down to earth at less than half its previous value. As the price of gold takes a nose dive of its own, some serious economists have risen to Bitcoin’s defense as true believers urge traders to hang on.

Forbes.com
4/29/2013 @ 1:45PM
Big VC Says Bitcoin Is ‘Gold 2.0. It’s a Huge, Huge, Huge Deal’
Think the recent collapse in Bitcoin’s value was the end of the experimental currency’s, um, currency? Not even close, says Chamath Palihapitiya, the longtime Facebook executive who now runs The Social + Capital Partnership.
(...)
Palihapitiya went on:

I personally own Bitcoin in my hedge fun, I own Bitcoin in my fund, I own Bitcoin in my private account. It is a huge deal. It’s a huge, huge, huge deal. Because what you’re talking about right now is, for the next three to five years, an unbelievably better stored value. It is gold 2.0. Right? The value of gold that hedges the world economy, about $9 trillion, right? Thirteen hundred an ounce, of which only a hundred to a hundred and fifty dollars is the actual production value. So all the rest is imputed….

CNBC
BitCoin Is Gold 2.0: Venture Capitalist
Published: Monday, 29 Apr 2013 | 4:08 PM ET
By: Cadie Thompson
Technology Editor, CNBC.com
(...)
Bitcoins have also become a powerful hedging tool for investors, said Chamath Palihapitiya, the founder and managing partner of the venture firm Social Capital Partnership.
(...)
“Bitcoin and things like it are the equivalent of a red pill. We are entering an uncharted world right now,” Palihapitiya said Monday at the conference. “It’s a huge, huge deal. Because what you are talking about right now is that for the next three to five years it is an unbelievably better store value. It is gold 2.0.”

The LewRockwell.com Blog
‘Bitcoin Is Gold 2.0’?
Posted by Lew Rockwell on April 30, 2013 10:16 AM
Venture capitalists are diving in, which is the ultimate vote of confidence.

Twitter
Jeff Bercovici
‏@jeffbercovici
#Bitcoin is “gold 2.0,” says @chamath at #tcdisrupt. “It’s a huge, huge, huge deal.” http://www.forbes.com/sites/jeffbercovici/2013/04/29/big-vc-says-bitcoin-is-gold-2-0-its-a-huge-huge-huge-deal/
10:48 AM - 29 Apr 13

Posted by Barry Popik
New York CityBanking/Finance/Insurance • Tuesday, April 30, 2013 • Permalink