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 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.
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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.
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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.
Naval RavikantRead
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