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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.

A Quote By Naval Ravikant

Naval Ravikant

BitcoinBlockchainSecurity
Profile Image Of Naval Ravikant
Naval Ravikant
Entrepreneur and Investor
Naval Ravikant is an entrepreneur and angel investor promoting personal growth.
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Explanation Of The Quote

Synopsis
Naval Ravikant explains the decentralized nature of blockchain technology, emphasizing its resilience and cryptographic strength. He highlights how Bitcoin’s security is derived from its global network. This quote inspires us to explore the potential of blockchain for secure transactions. Ravikant’s wisdom encourages understanding the underlying technology to appreciate its transformative impact.
Topics:BitcoinBlockchainSecurity

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

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