Best quotes by Naval Ravikant on Bitcoin

Checkout quotes by Naval Ravikant on Bitcoin

• ‟ Think of Bitcoin as a bank account in the cloud, and it's completely decentralized: not the Swiss government, not the American government. It's all the participants in the network enforcing.

  - Naval Ravikant
  

• ‟ The ledger, the distributed database - it's called a Blockchain - is held in the cloud by all the parties involved. It can't be broken by any of them. It's cryptographically too strong. You would have to compromise the entire network to take over Bitcoin.

  - Naval Ravikant
  

• ‟ We can code wills, escrows, trusts, notaries, revokable charge backs, proof of contracts, intellectual property enforcement. What Wall Street does can be done in code by Bitcoin.

  - Naval Ravikant
  

• ‟ While the traditional banks and credit card companies lock down access to their payments infrastructure to a handful of trusted parties, Bitcoin is open to all.

  - Naval Ravikant
  

• ‟ Cryptocurrencies like Bitcoin are already trustless - any machine can accept it from any other, securely. They are (nearly) free. They are global - no central bank required, and any machine can speak the language.

  - Naval Ravikant
  

• ‟ People think about Bitcoin incorrectly. They think about it as currency or about gold or hoarding, speculation, about how much money do you make. When really, what it is is an API for programmable cash transactions.

  - Naval Ravikant
  

• ‟ If you're investing in a company in the Bitcoin economy, you have to compare the valuation of the company to the valuation of the entire economy.

  - Naval Ravikant
  

• ‟ It's probably easier and cheaper to counterfeit hundred-dollar bills than it is to counterfeit Bitcoin.

  - Naval Ravikant
  

• ‟ 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 Ravikant
  

• ‟ Within my social circle, there is a large group of people who will take bitcoin as legal tender; like, you can go to them and settle debts in Bitcoin, and they will happily take it.

  - Naval Ravikant
  

• ‟ It's important not to think about Bitcoin as a replacement for cash or gold or something that works alongside that; it's to think of it as programmable money. And we just cannot even imagine what that will be used for.

  - Naval Ravikant
  

• ‟ If you use a bad password, your Bitcoin will get stolen.

  - Naval Ravikant
  

• ‟ Just as the web democratized publishing and development, Bitcoin can democratize building new financial services. Contracts can be entered into, verified, and enforced completely electronically, using any third-party that you care to trust, or by the code itself.

  - Naval Ravikant
  

• ‟ China may censor YouTube. China may censor Twitter. They won't be able to censor Bitcoin. There's no central authority. There's no one you can go to and say, 'We're going to turn Bitcoin off.'

  - Naval Ravikant