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.
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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.
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