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
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.
Interpretation
What this quote means
The quote suggests that human interactions do not necessarily require complex financial systems or cryptocurrencies, as traditional methods suffice.
Naval Ravikant expresses the idea that while technology such as math-based cryptocurrencies exists, human interactions are generally straightforward and can rely on more traditional methods of payment. He emphasizes that life is lived at a leisurely pace, and that the conventional means of conducting transactions—like credit cards and cash—are adequate for meaningful relationships and larger purchases, indicating that the complexity of modern technology may not be necessary for human connection and commerce.
Themes
Human InteractionTechnologyCryptocurrencyCommerceSimplicity
In practice
Example use cases
This quote can be used in a discussion about the relevance of cryptocurrencies compared to traditional payment methods.
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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.
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Any competent programmer has an API to cash, payments, escrow, wills, notaries, lotteries, dividends, micropayments, subscriptions, crowdfunding, and more.
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It's almost always possible to be honest and positive.
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