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E42: Naval Ravikant and Balaji Srinivasan on Why History Points to Crypto
"Turpentine VC" | Venture Capital and Investing
Understanding the Use Cases of Crypto Beyond Starbucks Purchases
The history of money teaches the distinction between payments and medium of exchange. Cryptocurrency excels at micro and macro transactions, offering advantages such as secure money transfer and divisibility. While it may not be ideal for human-scale transactions like buying coffee at Starbucks, it can potentially replace gold, as it is easily divisible, verifiable, and transmittable over the internet. Differentiating between applications like Voice over IP and digital gold, the latter serves as a significant improvement over the traditional financial system, making it a promising asset in the crypto space.
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