--- title: "Meaning & Key Takeaway of: Erik argued that it was the very virtual…" description: "\"“Erik argued that it was the very virtual nature of Bitcoin that made it so valuable. Unlike gold, it could be easily and quickly transferred anywhere ..." image: "https://sms4smile.com/quotes/i/6d1/nathaniel-popper-29380_currency_erik-argued-that-it-was-the-very-virtual_369487.jpg" --- # Erik argued that it was the very virtual nature of Bitcoin… ![“Erik argued that it was the very virtual nature of Bitcoin that made it so valuable. Unlike gold, it could be easily and quickly transferred anywhere in the world, while still having the qualities of divisibility and verifiability that had made gold a successful currency for so many years.” quote by Nathaniel Popper](https://sms4smile.com/quotes/i/6d1/nathaniel-popper-29380_currency_erik-argued-that-it-was-the-very-virtual_369487.jpg) [Download](https://sms4smile.com/quotes/i/6d1/nathaniel-popper-29380_currency_erik-argued-that-it-was-the-very-virtual_369487.jpg) [Open image](https://sms4smile.com/quotes/i/6d1/nathaniel-popper-29380_currency_erik-argued-that-it-was-the-very-virtual_369487.jpg) > ““Erik argued that it was the very virtual nature of Bitcoin that made it so valuable. Unlike gold, it could be easily and quickly transferred anywhere in the world, while still having the qualities of divisibility and verifiability that had made gold a successful currency for so many years.”” [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Bitcoin’s digital nature gives it global, instant transferability while retaining key monetary qualities like divisibility and verifiability, unlike physical gold. **In simple terms:** Bitcoin is valuable because it’s digital, fast, and still works like gold. Key Takeaway Leverage digital assets for efficient global transactions. Themes technology finance currency innovation decentralization Mood optimistic analytical Type informative analytical When to use this quote - online payments - cross‑border remittances - investment portfolios - cryptocurrency adoption Key Concepts digital scarcity network effects trustless verification divisibility Questions to Reflect On - How does digital scarcity compare to physical scarcity? - What risks arise from relying on trustless verification? A Different Perspective Regulatory uncertainty can limit adoption and create volatility. ★ ★ ★ ★ ★ No ratings yet [Currency](https://sms4smile.com/quotes/about/currency/) [Nature](https://sms4smile.com/quotes/about/nature/) ## Related quotes > [Bitcoin is valuable as a currency because of the economic efficiencies the bitcoin network is already creating as transactions flow over it. As with…](https://sms4smile.com/quotes/fred-ehrsam/bitcoin-is-valuable-as-a-currency-because-of-the-economic/) [Fred Ehrsam](https://sms4smile.com/quotes/author/fred-ehrsam/) > [Britain is not in the single currency, and we're not going to be. But we all need the eurozone to have the right governance…](https://sms4smile.com/quotes/david-cameron/britain-is-not-in-the-single-currency-and-we-re-not-going-to-be-but/) [David Cameron](https://sms4smile.com/quotes/author/david-cameron/) > [“I’m pretty confident that Bitcoin is the most important invention since the Internet itself. The world is changing because of Bitcoin right in front…](https://sms4smile.com/quotes/nathaniel-popper/i-m-pretty-confident-that-bitcoin-is-the-most-important-invention/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [As far as income goes, there are three currencies in the world; most people ignore two. The three currencies are time, income and mobility,…](https://sms4smile.com/quotes/tim-ferriss/as-far-as-income-goes-there-are-three-currencies-in-the-world-most/) [Tim Ferriss](https://sms4smile.com/quotes/author/tim-ferriss/) > [This separation was absolute in our original Republic. But the sky-godders do not give up easily. In the 1950s they actually got the phrase…](https://sms4smile.com/quotes/gore-vidal/this-separation-was-absolute-in-our-original-republic-but-the-sky/) [Gore Vidal](https://sms4smile.com/quotes/author/gore-vidal/) > [This is not really currency that circulates. It's like the old joke about expensive vintage wine. Wine prices will go up and once in…](https://sms4smile.com/quotes/michael-hudson/this-is-not-really-currency-that-circulates-it-s-like-the-old-joke/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [I had been exposed to bitcoin early. I thought the consumer application of it felt, to me, further away. I thought there would be…](https://sms4smile.com/quotes/brad-garlinghouse/i-had-been-exposed-to-bitcoin-early-i-thought-the-consumer/) [Brad Garlinghouse](https://sms4smile.com/quotes/author/brad-garlinghouse/) > [The spectacle of a great, solvent government paying a fictitious price for gold it did not want and did not need and doing it…](https://sms4smile.com/quotes/garet-garrett/the-spectacle-of-a-great-solvent-government-paying-a-fictitious-price/) [Garet Garrett](https://sms4smile.com/quotes/author/garet-garrett/) > [“Relationships are the currency of business.”](https://sms4smile.com/quotes/brian-basilico/relationships-are-the-currency-of-business/) Brian Basilico > [If you do more than your share you'd better want to: otherwise, you're paying yourself in a currency recognized nowhere else.](https://sms4smile.com/quotes/james-richardson/if-you-do-more-than-your-share-you-d-better-want-to-otherwise-you-re/) [James Richardson](https://sms4smile.com/quotes/author/james-richardson/) > [I'm not in the business of bayoneting the wounded. I feel the blockchain revolution is kind of my victory. I don't care whether I…](https://sms4smile.com/quotes/patrick-m-byrne/i-m-not-in-the-business-of-bayoneting-the-wounded-i-feel-the/) [Patrick M. Byrne](https://sms4smile.com/quotes/author/patrick-m-byrne/) > [The bitcoin network is not a payments network and it is not a scaling network.](https://sms4smile.com/quotes/sam-bankman-fried/the-bitcoin-network-is-not-a-payments-network-and-it-is-not-a-scaling/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency.…](https://sms4smile.com/quotes/peter-schiff/when-the-dollar-collapses-it-s-not-doing-it-in-a-vacuum-if-the-dollar/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Most paper money initially existed as a substitute for gold. That's what gave it value. But right now what gives a currency value is…](https://sms4smile.com/quotes/peter-schiff/most-paper-money-initially-existed-as-a-substitute-for-gold-that-s/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [A man walks down the street. It's a street in a strange world. Maybe it's the third world. Maybe it's his first time around.…](https://sms4smile.com/quotes/paul-simon/a-man-walks-down-the-street-it-s-a-street-in-a-strange-world-maybe-it/) [Paul Simon](https://sms4smile.com/quotes/author/paul-simon/) ## More by Nathaniel Popper > [“For security, Satoshi relied on uncrackable mathematical formulas rather than armed guards. But”](https://sms4smile.com/quotes/nathaniel-popper/for-security-satoshi-relied-on-uncrackable-mathematical-formulas/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“Occupy Wall Street and the Free State Project were ostensibly leaderless organizations that eschewed new power hierarchies.”](https://sms4smile.com/quotes/nathaniel-popper/occupy-wall-street-and-the-free-state-project-were-ostensibly/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“I’m pretty confident that Bitcoin is the most important invention since the Internet itself. The world is changing because of Bitcoin right in front…](https://sms4smile.com/quotes/nathaniel-popper/i-m-pretty-confident-that-bitcoin-is-the-most-important-invention/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“Ross himself had gained the expertise to build his government-eluding site after attending one of the best-funded public high schools in Texas and two…](https://sms4smile.com/quotes/nathaniel-popper/ross-himself-had-gained-the-expertise-to-build-his-government-eluding/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“The only occasional gripe was about the volatile price of Bitcoin, which made it hard to know how much a vendor would be charging…](https://sms4smile.com/quotes/nathaniel-popper/the-only-occasional-gripe-was-about-the-volatile-price-of-bitcoin/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“Tor network that served as a backbone of Silk Road had been created by the Office of Naval Intelligence.”](https://sms4smile.com/quotes/nathaniel-popper/tor-network-that-served-as-a-backbone-of-silk-road-had-been-created/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“If there was ever a time that Silicon Valley believed it could revive the long-deferred dream of reinventing money, this was it. A virtual…](https://sms4smile.com/quotes/nathaniel-popper/if-there-was-ever-a-time-that-silicon-valley-believed-it-could-revive/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“From the beginning, Satoshi envisioned a digital analog to old-fashioned gold: a new kind of universal money that could be owned by everyone and…](https://sms4smile.com/quotes/nathaniel-popper/from-the-beginning-satoshi-envisioned-a-digital-analog-to-old/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“gosh I can’t sleep ! I keep thinking about this great stuff. To me Bitcoin is the ‘cyberspace gold.’ I’m just amazed.”](https://sms4smile.com/quotes/nathaniel-popper/gosh-i-can-t-sleep-i-keep-thinking-about-this-great-stuff-to-me/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“Japan was the only place Roger had encountered where people’s response, when he described Bitcoin, was to call it scary—rather than interesting or silly.…](https://sms4smile.com/quotes/nathaniel-popper/japan-was-the-only-place-roger-had-encountered-where-people-s/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“In the very first recorded transaction of Bitcoin for United States dollars, Martti sent NewLibertyStandard 5,050 Bitcoins to use for seeding the new exchange.…](https://sms4smile.com/quotes/nathaniel-popper/in-the-very-first-recorded-transaction-of-bitcoin-for-united-states/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“Satoshi Nakamoto, or whoever could prove ownership of Satoshi’s public key: DE4E FCA3 E1AB 9E41 CE96 CECB 18C0 9E86 5EC9 48A1.”](https://sms4smile.com/quotes/nathaniel-popper/satoshi-nakamoto-or-whoever-could-prove-ownership-of-satoshi-s-public/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“Meanwhile, a month after the Bitcoin conference, protesters took over Zuccotti Park in Manhattan and began what became known as Occupy Wall Street, taking…](https://sms4smile.com/quotes/nathaniel-popper/meanwhile-a-month-after-the-bitcoin-conference-protesters-took-over/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“In the 1970s and 1980s, though, mathematicians at Stanford and MIT made a series of breakthroughs that made it possible, for the first time,…](https://sms4smile.com/quotes/nathaniel-popper/in-the-1970s-and-1980s-though-mathematicians-at-stanford-and-mit-made/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) > [“The root problem with conventional currency is all the trust that’s required to make it work,” Satoshi wrote. “The central bank must be trusted…](https://sms4smile.com/quotes/nathaniel-popper/the-root-problem-with-conventional-currency-is-all-the-trust-that-s/) [Nathaniel Popper](https://sms4smile.com/quotes/author/nathaniel-popper/) [Explore all 18 Nathaniel Popper quotes ](https://sms4smile.com/quotes/author/nathaniel-popper/) ## More Currency quotes > [A man walks down the street. It's a street in a strange world. Maybe it's the third world. Maybe it's his first time around.…](https://sms4smile.com/quotes/paul-simon/a-man-walks-down-the-street-it-s-a-street-in-a-strange-world-maybe-it/) [Paul Simon](https://sms4smile.com/quotes/author/paul-simon/) > [Most paper money initially existed as a substitute for gold. That's what gave it value. But right now what gives a currency value is…](https://sms4smile.com/quotes/peter-schiff/most-paper-money-initially-existed-as-a-substitute-for-gold-that-s/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency.…](https://sms4smile.com/quotes/peter-schiff/when-the-dollar-collapses-it-s-not-doing-it-in-a-vacuum-if-the-dollar/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [The bitcoin network is not a payments network and it is not a scaling network.](https://sms4smile.com/quotes/sam-bankman-fried/the-bitcoin-network-is-not-a-payments-network-and-it-is-not-a-scaling/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I'm not in the business of bayoneting the wounded. I feel the blockchain revolution is kind of my victory. I don't care whether I…](https://sms4smile.com/quotes/patrick-m-byrne/i-m-not-in-the-business-of-bayoneting-the-wounded-i-feel-the/) [Patrick M. Byrne](https://sms4smile.com/quotes/author/patrick-m-byrne/) > [If you do more than your share you'd better want to: otherwise, you're paying yourself in a currency recognized nowhere else.](https://sms4smile.com/quotes/james-richardson/if-you-do-more-than-your-share-you-d-better-want-to-otherwise-you-re/) [James Richardson](https://sms4smile.com/quotes/author/james-richardson/) > [“Relationships are the currency of business.”](https://sms4smile.com/quotes/brian-basilico/relationships-are-the-currency-of-business/) Brian Basilico > [The spectacle of a great, solvent government paying a fictitious price for gold it did not want and did not need and doing it…](https://sms4smile.com/quotes/garet-garrett/the-spectacle-of-a-great-solvent-government-paying-a-fictitious-price/) [Garet Garrett](https://sms4smile.com/quotes/author/garet-garrett/) > [I had been exposed to bitcoin early. I thought the consumer application of it felt, to me, further away. I thought there would be…](https://sms4smile.com/quotes/brad-garlinghouse/i-had-been-exposed-to-bitcoin-early-i-thought-the-consumer/) [Brad Garlinghouse](https://sms4smile.com/quotes/author/brad-garlinghouse/) > [This is not really currency that circulates. It's like the old joke about expensive vintage wine. Wine prices will go up and once in…](https://sms4smile.com/quotes/michael-hudson/this-is-not-really-currency-that-circulates-it-s-like-the-old-joke/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [This separation was absolute in our original Republic. But the sky-godders do not give up easily. In the 1950s they actually got the phrase…](https://sms4smile.com/quotes/gore-vidal/this-separation-was-absolute-in-our-original-republic-but-the-sky/) [Gore Vidal](https://sms4smile.com/quotes/author/gore-vidal/) > [As far as income goes, there are three currencies in the world; most people ignore two. The three currencies are time, income and mobility,…](https://sms4smile.com/quotes/tim-ferriss/as-far-as-income-goes-there-are-three-currencies-in-the-world-most/) [Tim Ferriss](https://sms4smile.com/quotes/author/tim-ferriss/) > [The euro is not a currency. It is a political weapon to force countries to implement the policies decided by the E.U. and keep…](https://sms4smile.com/quotes/marine-le-pen/the-euro-is-not-a-currency-it-is-a-political-weapon-to-force/) [Marine Le Pen](https://sms4smile.com/quotes/author/marine-le-pen/) > [“Key Points: ● Transparency - Blockchain offers significant improvements in transparency compared to existing record keeping and ledgers for many industries. ● Removal of…](https://sms4smile.com/quotes/mark-gates/key-points-transparency-blockchain-offers-significant-improvements-in/) Mark Gates > [In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the…](https://sms4smile.com/quotes/steve-hanke/in-2008-bitcoin-was-mysteriously-introduced-to-the-world-in-an/) [Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/) [Browse all 1,256 Currency quotes ](https://sms4smile.com/quotes/about/currency/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "“Erik argued that it was the very virtual nature of Bitcoin that made it so valuable. 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