Naval Ravikant

I think long-term, Bitcoin is a currency of the Internet. So, even if humans don't use it, routers will use it. Web browsers will use it. Web servers will use it.

Having a million-dollar net worth doesn't make you a genius, and having less than a million-dollar net worth doesn't make you a fool.

Humans don't 'need' math-based cryptocurrencies when dealing with other humans. We walk slowly, talk slowly, and buy big things. Credit cards, cash, wires, checks - the world seems fine.

Rules that may be easy for Wall Street are a death sentence for startups. They are easy to break accidentally and the penalty for noncompliance is severe.

If you go to a venture firm, what you're doing is you're buying money from them in exchange for equity. They have a commodity that they're selling and they have to differentiate themselves.

Any competent programmer has an API to cash, payments, escrow, wills, notaries, lotteries, dividends, micropayments, subscriptions, crowdfunding, and more.

It's almost always possible to be honest and positive.

Money is a bubble that never pops. It's a consensus hallucination.

ICOs are obviously a new and interesting form of funding for blockchain-based protocols, but it's not clear that all of them comply with U.S. securities laws or that all of them are companies that have good native use cases for new coins.

Cryptocurrencies will create a fifth protocol layer powering the next generation of the Internet.

People come in. They are too gung ho. They invest too much money in things they don't know. They lose it and then they clam up and stop investing. Then they miss the actual boom. That's the nature of the market.

It's important not to think about Bitcoin as a replacement for cash or gold or something that works alongside that; it's to think of it as programmable money. And we just cannot even imagine what that will be used for.

China may censor YouTube. China may censor Twitter. They won't be able to censor Bitcoin. There's no central authority. There's no one you can go to and say, 'We're going to turn Bitcoin off.'

There's so much innovation going on, and there are lots of people funding that innovation, but there's very little innovation on that infrastructure for innovation itself, so we like to do that ourselves to help companies create more tech companies.

Cryptocurrency currencies take the concept of money, and they take it native into computers, where everything is settled with computers and doesn't require external institutions or trusted third parties to validate things.