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
Money is a bubble that never pops. It's a consensus hallucination.
Interpretation
What this quote means
Money is an agreed-upon concept that holds value only because society believes it does.
In this quote, Naval Ravikant suggests that money is not inherently valuable but rather a construct of collective belief. The idea of money symbolizes a societal agreement that assigns worth to paper and coins, making it fragile and unpredictable, much like a bubble that can shift in perception but never truly disappears from our collective consciousness.
Themes
MoneyValueBeliefSocietyPerception
In practice
Example use cases
A speaker might use this quote in a financial seminar to illustrate the subjective nature of value.
More from Naval Ravikant
All quotes →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.
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
The resistance to praying is like the resistance of tightly clenched fists. This image shows a tension, a desire to cling tightly to yourself, a greediness which betrays fear.
Henri NouwenRead
To the well-organized mind, death is but the next great adventure.
J. K. RowlingRead
The disruptive powers of excessive national fecundity may have played a greater part in bursting the bonds of convention than either the power of ideas or the errors of autocracy.
John Maynard KeynesRead
The problem with the youth of today' is that one is no longer part of it.
Salvador DaliRead
Where there is nothing, there is God.
William Butler YeatsRead
Now I’m just standing here on the conveyor. Along for the ride. I reach the end, turn around, and go back the other way. The world has been distilled. Being dead is easy. After a few hours of this, I notice a female on the opposite conveyor. She doesn’t lurch or groan like most of us. Her head just lolls from side to side. I like that about her. That she doesn’t lurch or groan. I catch her eye and stare at her.
Isaac MarionRead