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.
Naval RavikantRead
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.
Interpretation
What this quote means
Cryptocurrencies revolutionize traditional finance by enabling digital transactions without intermediaries.
Naval Ravikant's quote emphasizes how cryptocurrencies redefine money by integrating it directly into digital systems. This shift allows for decentralized transactions that eliminate the need for banks or other third-party institutions, promoting direct peer-to-peer interactions and enhancing security and efficiency in financial exchanges.
Themes
CryptocurrencyDecentralizationBlockchainDigital CurrencyPeer-To-PeerFinance
In practice
Example use cases
Discussing the future of finance at a tech conference.
More from Naval Ravikant
All quotes βHaving 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.
Naval RavikantRead
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.
Naval RavikantRead
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.
Naval RavikantRead
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.
Naval RavikantRead
Any competent programmer has an API to cash, payments, escrow, wills, notaries, lotteries, dividends, micropayments, subscriptions, crowdfunding, and more.
Naval RavikantRead
Similar quotes
AR is going to play such an infinite role in our lives that we have to establish clear ground rules respecting everyone's rights. That means open platform and open ecosystems and protections that put user privacy first.
Tim SweeneyRead
We're already cyborgs. Your phone and your computer are extensions of you, but the interface is through finger movements or speech, which are very slow.
Elon MuskRead
You don't get to cut that chain of evidence and start over. You're always going to be pursued by your data shadow, which is forming from thousands and thousands of little leaks and tributaries of information.
Bruce SterlingRead
The number one benefit of information technology is that it empowers people to do what they want to do. It lets people be creative. It lets people be productive. It lets people learn things they didn't think they could learn before, and so in a sense it is all about potential.
Steve BallmerRead
Strangely enough, the linking of computers has taken place democratically, even anarchically. Its rules and habits are emerging in the open light, rather shall behind the closed doors of security agencies or corporate operations centers.
James GleickRead
The remarkable social impact and economic success of the Internet is in many ways directly attributable to the architectural characteristics that were part of its design. The Internet was designed with no gatekeepers over new content or services.
Vinton CerfRead