--- title: "Meaning & Key Takeaway of: Most people heard about Bitcoin for the…" description: "\"Most people heard about Bitcoin for the first time in the context of the Mt. Gox collapse. It is our Lehman Brothers.\" — Brock Pierce" image: "https://sms4smile.com/quotes/i/39f/brock-pierce-8480_bitcoin_most-people-heard-about-bitcoin-for-the_2816669.jpg" --- # Most people heard about Bitcoin for the first time in the… ![“Most people heard about Bitcoin for the first time in the context of the Mt. Gox collapse. It is our Lehman Brothers.” quote by Brock Pierce](https://sms4smile.com/quotes/i/39f/brock-pierce-8480_bitcoin_most-people-heard-about-bitcoin-for-the_2816669.jpg) [Download](https://sms4smile.com/quotes/i/39f/brock-pierce-8480_bitcoin_most-people-heard-about-bitcoin-for-the_2816669.jpg) [Open image](https://sms4smile.com/quotes/i/39f/brock-pierce-8480_bitcoin_most-people-heard-about-bitcoin-for-the_2816669.jpg) > “Most people heard about Bitcoin for the first time in the context of the Mt. Gox collapse. It is our Lehman Brothers.” [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The quote compares Bitcoin's early crisis to the 2008 financial collapse, suggesting it could be a catalyst for systemic change. **In simple terms:** Bitcoin may be a turning point like Lehman. Key Takeaway Recognize Bitcoin's potential to reshape finance. Themes finance risk disruption history innovation Mood cautious optimistic Type analytical speculative When to use this quote - investment decisions - regulatory policy - public perception - financial education Key Concepts cryptocurrency systemic risk market cycles Questions to Reflect On - Can Bitcoin truly avoid repeating past financial failures? - How can we mitigate systemic risk in crypto? A Different Perspective Bitcoin's volatility may hinder mainstream adoption. ★ ★ ★ ★ ★ No ratings yet [Bitcoin](https://sms4smile.com/quotes/about/bitcoin/) [Bitcoin Time](https://sms4smile.com/quotes/about/bitcoin-time-3558831/) [Collapse Lehman](https://sms4smile.com/quotes/about/collapse-lehman-2338963/) [Currency](https://sms4smile.com/quotes/about/currency/) [First time](https://sms4smile.com/quotes/about/first-time/) [Gox Collapse](https://sms4smile.com/quotes/about/gox-collapse-3558830/) [Heard Bitcoin](https://sms4smile.com/quotes/about/heard-bitcoin-3558829/) [Lehman brothers](https://sms4smile.com/quotes/about/lehman-brothers/) [Most](https://sms4smile.com/quotes/about/most/) [People](https://sms4smile.com/quotes/about/people/) [Time](https://sms4smile.com/quotes/about/time/) ## Related quotes > [Most of the time, your risk management works. With a systemic event such as the recent shocks following the collapse of Lehman Brothers, obviously…](https://sms4smile.com/quotes/myron-scholes/most-of-the-time-your-risk-management-works-with-a-systemic-event/) [Myron Scholes](https://sms4smile.com/quotes/author/myron-scholes/) > [I am really surprised bitcoin isn't more popular in India, given the strong gold culture here. I call it Gold 2.0. It has all…](https://sms4smile.com/quotes/brock-pierce/i-am-really-surprised-bitcoin-isn-t-more-popular-in-india-given-the/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [I care a great deal about what happens to Bitcoin.](https://sms4smile.com/quotes/brock-pierce/i-care-a-great-deal-about-what-happens-to-bitcoin/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [It is possible that Bitcoin will fork at some point. The question is whether or not it'll be a contentious fork. This process is…](https://sms4smile.com/quotes/brock-pierce/it-is-possible-that-bitcoin-will-fork-at-some-point-the-question-is/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [When the Internet first launched, you had all these newspapers saying that the Internet was only used by bad people, to do bad things…](https://sms4smile.com/quotes/brock-pierce/when-the-internet-first-launched-you-had-all-these-newspapers-saying/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [AngelList Syndicates are perfectly aligned with Bitcoin's ideology. They democratize the system so everyone has access to high value dealflow; it's the power of…](https://sms4smile.com/quotes/brock-pierce/angellist-syndicates-are-perfectly-aligned-with-bitcoin-s-ideology/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [Wall Street banks have used the same tactic that Bush used in the war on terror - fear - and they've basically said that…](https://sms4smile.com/quotes/joseph-stiglitz/wall-street-banks-have-used-the-same-tactic-that-bush-used-in-the-war/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) > [I presumably lost $150,000 in the depression of 1937—on my one stock investment—because I did everything Lehman Brothers told me. I said, well, this…](https://sms4smile.com/quotes/studs-terkel/i-presumably-lost-150-000-in-the-depression-of-1937-on-my-one-stock/) [Studs Terkel](https://sms4smile.com/quotes/author/studs-terkel/) > [Remember Circuit City? Bear Stearns? Lehman Brothers? Sports Authority? Once, all were billion-dollar companies - then gone in a moment. The fatal problem might…](https://sms4smile.com/quotes/steve-bannon/remember-circuit-city-bear-stearns-lehman-brothers-sports-authority/) [Steve Bannon](https://sms4smile.com/quotes/author/steve-bannon/) > [“When Lehman Brothers collapsed on September 15, 2008, and inaugurated the biggest crisis since the 1930s, there were no real alternatives to hand. No…](https://sms4smile.com/quotes/rutger-bregman/when-lehman-brothers-collapsed-on-september-15-2008-and-inaugurated-2/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) > [Now we are intimately locked together. You get swine flu in Mexico; it’s a problem for Charles de Gaulle Airport 24 hours later. Lehman…](https://sms4smile.com/quotes/paddy-ashdown/now-we-are-intimately-locked-together-you-get-swine-flu-in-mexico-it/) [Paddy Ashdown](https://sms4smile.com/quotes/author/paddy-ashdown/) > [I wasn't on the board of Lehman Brothers. I was a banker, and I was proud of it and I traveled the country and…](https://sms4smile.com/quotes/sean-hannity/i-wasn-t-on-the-board-of-lehman-brothers-i-was-a-banker-and-i-was/) [Sean Hannity](https://sms4smile.com/quotes/author/sean-hannity/) > [I never once considered that it was appropriate to put taxpayer money on the line in resolving Lehman Brothers.](https://sms4smile.com/quotes/henry-paulson/i-never-once-considered-that-it-was-appropriate-to-put-taxpayer-money/) [Henry Paulson](https://sms4smile.com/quotes/author/henry-paulson/) > [The assumption that Washington could and would resolve Lehman Brothers without a bankruptcy, as it had Bear Stearns, was the single biggest mistake in…](https://sms4smile.com/quotes/david-malpass/the-assumption-that-washington-could-and-would-resolve-lehman/) [David Malpass](https://sms4smile.com/quotes/author/david-malpass/) > [“When Lehman Brothers collapsed on September 15, 2008, and inaugurated the biggest crisis since the 1930s, there were no real alternatives to hand. No…](https://sms4smile.com/quotes/rutger-bregman/when-lehman-brothers-collapsed-on-september-15-2008-and-inaugurated/) [Rutger Bregman](https://sms4smile.com/quotes/author/rutger-bregman/) ## More by Brock Pierce > [As our culture redefines being a gamer, brand partners explore and wait eagerly on a new set of tools to better engage their potential…](https://sms4smile.com/quotes/brock-pierce/as-our-culture-redefines-being-a-gamer-brand-partners-explore-and/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [Facebook has revolutionized social games, as friends can see your points, achievements and in game events.](https://sms4smile.com/quotes/brock-pierce/facebook-has-revolutionized-social-games-as-friends-can-see-your/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [Being able to borrow against one's crypto assets gives one options, when wanting to purchase a property, and aligns with my philosophy that real…](https://sms4smile.com/quotes/brock-pierce/being-able-to-borrow-against-one-s-crypto-assets-gives-one-options/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [When you have to start over from scratch, you can do it very differently than if you have this big thing that's kinda been…](https://sms4smile.com/quotes/brock-pierce/when-you-have-to-start-over-from-scratch-you-can-do-it-very/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [I'm normally running three to 10 meetings at a time. I just pile them all up. I have no schedule and everybody just kind…](https://sms4smile.com/quotes/brock-pierce/i-m-normally-running-three-to-10-meetings-at-a-time-i-just-pile-them/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [When you start working as an Internet entrepreneur, the world is moving at a million miles an hour and is changing rapidly.](https://sms4smile.com/quotes/brock-pierce/when-you-start-working-as-an-internet-entrepreneur-the-world-is/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [Two-thirds of the world's population is unbanked or underbanked. Imagine if you had all your bank accounts shut down today, if you had all…](https://sms4smile.com/quotes/brock-pierce/two-thirds-of-the-world-s-population-is-unbanked-or-underbanked/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [Los Angeles has always been one of America's most entrepreneurial cities, but it is hard to recognize this because of how hardwired, literally, 'entpreneurism'…](https://sms4smile.com/quotes/brock-pierce/los-angeles-has-always-been-one-of-america-s-most-entrepreneurial/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [I guess one of the main things you realize when you work as an entrepreneur is that it's long days, long hours.](https://sms4smile.com/quotes/brock-pierce/i-guess-one-of-the-main-things-you-realize-when-you-work-as-an/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [I care a great deal about humanity! I care. I really care.](https://sms4smile.com/quotes/brock-pierce/i-care-a-great-deal-about-humanity-i-care-i-really-care/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [AngelList Syndicates are perfectly aligned with Bitcoin's ideology. They democratize the system so everyone has access to high value dealflow; it's the power of…](https://sms4smile.com/quotes/brock-pierce/angellist-syndicates-are-perfectly-aligned-with-bitcoin-s-ideology/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [A billionaire is someone who can positively impact a billion lives.](https://sms4smile.com/quotes/brock-pierce/a-billionaire-is-someone-who-can-positively-impact-a-billion-lives/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [From an architecture perspective, Mt. Gox is not an isolated incident. We've had exchanges continually hacked after Mt. Gox. This has been an ongoing…](https://sms4smile.com/quotes/brock-pierce/from-an-architecture-perspective-mt-gox-is-not-an-isolated-incident/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [We're going to rebuild Puerto Rico with money that we saved from the IRS in a Robin Hood fashion.](https://sms4smile.com/quotes/brock-pierce/we-re-going-to-rebuild-puerto-rico-with-money-that-we-saved-from-the/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) > [Anyone who knows me knows I'm an open book.](https://sms4smile.com/quotes/brock-pierce/anyone-who-knows-me-knows-i-m-an-open-book/) [Brock Pierce](https://sms4smile.com/quotes/author/brock-pierce/) [Explore all 80 Brock Pierce quotes ](https://sms4smile.com/quotes/author/brock-pierce/) ## More Bitcoin quotes > [The bitcoin network is not a payments network and it is not a scaling network.](https://sms4smile.com/quotes/sam-bankman-fried/the-bitcoin-network-is-not-a-payments-network-and-it-is-not-a-scaling/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I had been exposed to bitcoin early. I thought the consumer application of it felt, to me, further away. I thought there would be…](https://sms4smile.com/quotes/brad-garlinghouse/i-had-been-exposed-to-bitcoin-early-i-thought-the-consumer/) [Brad Garlinghouse](https://sms4smile.com/quotes/author/brad-garlinghouse/) > [In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the…](https://sms4smile.com/quotes/steve-hanke/in-2008-bitcoin-was-mysteriously-introduced-to-the-world-in-an/) [Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/) > [We need to come up with use cases for this technology that drive clear benefits for individuals and institutions - these are our customers.…](https://sms4smile.com/quotes/abigail-johnson/we-need-to-come-up-with-use-cases-for-this-technology-that-drive/) [Abigail Johnson](https://sms4smile.com/quotes/author/abigail-johnson/) > [Sir Richard Branson started out as a small business owner and now owns a conglomerate that will give you a ride to the moon.…](https://sms4smile.com/quotes/perianne-boring/sir-richard-branson-started-out-as-a-small-business-owner-and-now/) [Perianne Boring](https://sms4smile.com/quotes/author/perianne-boring/) > [Exchanging bitcoin on behalf of ransomware victims should not be construed as criminal activity by the exchanger, not as a matter of law nor…](https://sms4smile.com/quotes/perianne-boring/exchanging-bitcoin-on-behalf-of-ransomware-victims-should-not-be/) [Perianne Boring](https://sms4smile.com/quotes/author/perianne-boring/) > [Until part of your paycheck is regularly paid in Bitcoin, I'm not sure how it would really go mainstream. I can imagine places in…](https://sms4smile.com/quotes/gavin-andresen/until-part-of-your-paycheck-is-regularly-paid-in-bitcoin-i-m-not-sure/) [Gavin Andresen](https://sms4smile.com/quotes/author/gavin-andresen/) > [Calling bitcoin volatile - it's a non-statement. Unregulated assets with unclear regulatory landscapes are always going to be volatile. That's what unregulated assets do.](https://sms4smile.com/quotes/tyler-winklevoss/calling-bitcoin-volatile-it-s-a-non-statement-unregulated-assets-with/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [We see bitcoin as potentially the greatest social network of all.](https://sms4smile.com/quotes/tyler-winklevoss/we-see-bitcoin-as-potentially-the-greatest-social-network-of-all/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [As the platform and protocol become more ingrained in society, get built into products and services, and basically become more of the mesh of…](https://sms4smile.com/quotes/barry-silbert/as-the-platform-and-protocol-become-more-ingrained-in-society-get/) [Barry Silbert](https://sms4smile.com/quotes/author/barry-silbert/) > [Bitcoin is not “unregulated”. It is regulated by algorithm instead of being regulated by government bureaucracies. Un-corrupted.](https://sms4smile.com/quotes/andreas-antonopoulos/bitcoin-is-not-unregulated-it-is-regulated-by-algorithm-instead-of/) [Andreas Antonopoulos](https://sms4smile.com/quotes/author/andreas-antonopoulos/) > [The rudest possible gift is a gift card. It means you think the person is stupid and has no interests. The only good gift…](https://sms4smile.com/quotes/john-waters/the-rudest-possible-gift-is-a-gift-card-it-means-you-think-the-person/) [John Waters](https://sms4smile.com/quotes/author/john-waters/) > [If the U.S. government tries to restrict or clamp down, that just means there will be many more bitcoin businesses in Hong Kong and…](https://sms4smile.com/quotes/roger-ver/if-the-u-s-government-tries-to-restrict-or-clamp-down-that-just-means/) [Roger Ver](https://sms4smile.com/quotes/author/roger-ver/) > [What bitcoin does better than the current financial system is it's a better stored value globally. There are a lot of countries that really…](https://sms4smile.com/quotes/adam-draper/what-bitcoin-does-better-than-the-current-financial-system-is-it-s-a/) [Adam Draper](https://sms4smile.com/quotes/author/adam-draper/) > [You really want some natural way for people to get Bitcoins, as part of their paycheck or some other activity so they can turn…](https://sms4smile.com/quotes/gavin-andresen/you-really-want-some-natural-way-for-people-to-get-bitcoins-as-part/) [Gavin Andresen](https://sms4smile.com/quotes/author/gavin-andresen/) [Browse all 364 Bitcoin quotes ](https://sms4smile.com/quotes/about/bitcoin/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Most people heard about Bitcoin for the first time in the context of the Mt. Gox collapse. 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