Quote By 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

Bitcoin Programmable Transactions

Naval Ravikant

Entrepreneur and Investor

Born: November 5, 1981

Naval Ravikant is an entrepreneur and angel investor promoting personal growth.

Explanation Of The Quote

Naval Ravikant redefines Bitcoin as an API for programmable cash rather than a speculative asset or digital gold. He emphasizes its utility for creating secure, automated financial systems. This quote inspires us to rethink cryptocurrency’s potential beyond investment. Ravikant’s wisdom highlights Bitcoin’s role in transforming traditional financial transactions.

More Quotes By Naval Ravikant

On AngelList, we get 100 new companies created a day. That's an insane flood.

Naval Ravikant

Getting in the middle of financial transactions is a regulatory minefield.

Naval Ravikant

All of the marketplaces like Prosper, LendingClub, etc., as they get larger, they flip from being retail capital to institutional capital.

Naval Ravikant

Unlike a normal venture fund, we never stop raising capital. We can always absorb new capital on the platform and into the next deal as long as we feel it won't distort the allocation and the pricing.

Naval Ravikant

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 Ravikant

Startups are constantly raising money, sometimes before they have even hired a lawyer.

Naval Ravikant

When the venture industry started, it was enough to just have money and then it was enough to sort of have this big fuzzy brand. But now startups are getting a lot smarter.

Naval Ravikant

VC firms that don't have a brand are going to struggle. Because there is a lot of money out there, you need to have a point of view, a brand, to really add value. You can't just talk about it, and say well, we are smart people.

Naval Ravikant

One philosophy I have at AngelList is I would rather have someone working on the wrong thing and do it their way and be motivated, than working on the right thing and do it my way and not be motivated.

Naval Ravikant

We just think it's important that everybody have some technical training and background. Even though not everybody is coding but even our deals team and our designers all have GitHub accounts and they go into the code base.

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

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.

Naval Ravikant