Naval Ravikant: Bitcoin is solving 'Money Problems'

At Token Summit II,  Naval Ravikant, co-founder of AngelList, ignored the bubble talk, claiming that cryptocurrencies solve people's money problems. With Bitcoin's surprising price movement, some observers say the market is in a bubble zone.

But although he hasn't ruled it out entirely, AngelList co-founder Nawal Ravikant is less disconcerting. “Money is a bubble that will never burst,” he said yesterday at  Token Summit II in San Francisco. Regarding the renewed interest in Bitcoin, Ravikant said that people are interested in increasing their wealth.

The general public in accordance with carrying out that most of the  savings account today is going back to zero, the central bank Ravikant called the "Great Experiment for money printing" is looking for an alternative place to see Save money and keep growing.

Bitcoin and other advanced encryption protocol, is much less money is because it shows a significant gain seems to offer it. "I think people who want to solve the money issue." He said.

But at the same time, he warned that some crypto industries are overblown. In particular, Ravikant believes that markets place too much faith in the concept of decentralization. “One of the indicators is that we are in a very bubbly environment and we have a lot of tokens that are trading at very high values, which is undesirable,” he said at, "I think the market doesn't differentiate between quality right now."

But Ravikant concluded that the cryptocurrency economy is here. In fact, he gave viewers an idea of ​​what cryptocurrency he was interested in. This includes Bitcoin for storage costs. zcash to facilitate transactions; basecoin as a stable unit of payment; and tezzies, contract to gain access to the Tezos smart  platform. "I think we'll end up spending more money." - He added:

"If we could redefine what money is, it would be a trillion dollars."