AngelList Naval Co-founder Ravikant claimed that Bitcoin and other cryptocurrencies have what it It takes to solve the money problems of different types of people around the world. He added that the general public is looking for alternative places to store their money and watch it grow.
In his presentation at Token Summit II held in San Francisco, California on December 5, 2017, he spoke of the phenomenal trading performance of the main Bitcoin digital currency and the others. virtual currencies and the reason behind that. He claimed that the ascending movements of Bitcoin are motivated by people's thirst for alternative investment that meets their needs.
He claimed that the fear of some market watchers that Bitcoin is approaching the territory of "bubbles" is unfounded. However, he did not totally exclude it, but he claimed that the fiat currencies are also a bubble that never appears
"Money is a bubble that never appears, it's a consensual hallucination. "
Other highlights of Ravikant's speech
Ravikant also told attendees at the event that some of the things in the digital currency industry have been overmatched. He cited as an example the very high esteem shown by industry players in the concept of decentralization. He also claimed that there are a lot of virtual tokens that are traded at very high values but that do not deserve it. However, he did not name any tokens.
"One indicator that we are in a very sparkling environment is that we have a lot of chips traded at very high values that are undesirable.the market does not distinguish quality."
In his presentation, the co-founder of AngelList also cited some virtual currencies that interest him and the reasons he loves them. Among them, Bitcoin, for storing value, Zcash, for an easy transaction, Basecoin, for a stable unit of account, and Tezzies, for accessing Tezos' smart contracts platform.