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.
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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
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