Naval Ravikant

Oddly enough, Bruce Lee wrote some great philosophy.

Entrepreneurship is really hard and painful - I'm not sure I'd recommend it for anyone who can't handle the extreme stress.

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.

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.

Money is a bubble that never pops. It's a consensus hallucination.

Take a very small amount of money, your throwaway money, treat it as if it's already gone, you've mentally set it on fire, and put it in some distribution of a few truly legit layer 1 blockchains.

Nation states that are used to imposing capital controls will face a quandary: ban cryptocurrencies and live in the technology dustbin; enable them, and this virus - this religion, this protocol - will enable the free flow of money and language, along with packets, around the globe.

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.

Cryptocurrency currencies take the concept of money, and they take it native into computers, where everything is settled with computers and doesn't require external institutions or trusted third parties to validate things.

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.

Any competent programmer has an API to cash, payments, escrow, wills, notaries, lotteries, dividends, micropayments, subscriptions, crowdfunding, and more.

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.