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
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.
Interpretation
What this quote means
Investors often rush into investments without knowledge, leading to losses and missed opportunities.
In this quote, Naval Ravikant highlights a common pitfall in investing where individuals enter the market with excessive enthusiasm and insufficient understanding. This rush can lead to significant financial losses, which then causes them to withdraw and refrain from further investment, resulting in missed opportunities during market upswings. The quote emphasizes the importance of informed decision-making in the face of market dynamics.
Themes
InvestmentMarketKnowledgeOpportunityFinance
In practice
Example use cases
In a financial seminar to emphasize the importance of research before investing.
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 problem that people don't understand is that active managers, almost by definition, have to be poorly diversified. Otherwise, they're not really active. They have to make bets. What that means is there's a huge dispersion of outcomes that are totally consistent with just chance. There's no skill involved it. It's just good luck or bad luck.
Eugene FamaRead
If you wait to see how much money you have left at the end of the month to put toward savings, the answer may be zero. So, set up an automated monthly transfer from your checking to savings account. Once you lock into that commitment, you'll be forced to scale back spending to make ends meet.
Suze OrmanRead
Not yet have I found any better method to prosper during the future financial chaos, which is likely to last many years, than to keep your net worth in shares of those corporations that have proven to have the widest profit margins and the most rapidly increasing profits. Earning power is likely to continue to be valuable, especially if diversified among many nations.
John TempletonRead
The only thing useful banks have invented in 20 years is the ATM.
Paul VolckerRead
While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster
Benjamin GrahamRead
You will either learn to manage money, or the lack of it will manage you.
Dave RamseyRead