--- title: "Meaning & Key Takeaway of: I view Bitcoin as the more democratic…" description: "\"I view Bitcoin as the more democratic version of money and value transfer because no one controls it... I expect the Internet to be around longer than ..." image: "https://sms4smile.com/quotes/i/1bd/olaf-carlson-wee-27882_bitcoin_i-view-bitcoin-as-the-more-democratic-ve_3212424.jpg" --- # I view Bitcoin as the more democratic version of money and… ![“I view Bitcoin as the more democratic version of money and value transfer because no one controls it... I expect the Internet to be around longer than any nation-state, so a nation-state-backed currency is actually less safe than an Internet currency in my mind.” quote by Olaf Carlson-Wee](https://sms4smile.com/quotes/i/1bd/olaf-carlson-wee-27882_bitcoin_i-view-bitcoin-as-the-more-democratic-ve_3212424.jpg) [Download](https://sms4smile.com/quotes/i/1bd/olaf-carlson-wee-27882_bitcoin_i-view-bitcoin-as-the-more-democratic-ve_3212424.jpg) [Open image](https://sms4smile.com/quotes/i/1bd/olaf-carlson-wee-27882_bitcoin_i-view-bitcoin-as-the-more-democratic-ve_3212424.jpg) > “I view Bitcoin as the more democratic version of money and value transfer because no one controls it... I expect the Internet to be around longer than any nation-state, so a nation-state-backed currency is actually less safe than an Internet currency in my mind.” [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Bitcoin is presented as a decentralized, internet‑based currency that resists control by governments, making it seem safer than state‑backed money. **In simple terms:** Bitcoin is a democratic, internet‑based money. Key Takeaway Consider using decentralized finance. Themes democracy money technology risk trust Mood optimistic critical Type analytical philosophical When to use this quote - online payments - cross‑border remittances - inflation hedging - political instability Key Concepts decentralization cryptography network effects Questions to Reflect On - How does decentralization affect financial stability? - What risks do users face without state backing? A Different Perspective Regulation may limit adoption. ★ ★ ★ ★ ★ No ratings yet [Backed Currency](https://sms4smile.com/quotes/about/backed-currency-401771/) [Bitcoin](https://sms4smile.com/quotes/about/bitcoin/) [Bitcoin Democratic](https://sms4smile.com/quotes/about/bitcoin-democratic-6007186/) [Currency](https://sms4smile.com/quotes/about/currency/) [Currency Actually](https://sms4smile.com/quotes/about/currency-actually-6007188/) [Internet](https://sms4smile.com/quotes/about/internet/) [Internet Currency](https://sms4smile.com/quotes/about/internet-currency-6007187/) [Mind](https://sms4smile.com/quotes/about/mind/) [Money](https://sms4smile.com/quotes/about/money/) [Value](https://sms4smile.com/quotes/about/value/) [View Bitcoin](https://sms4smile.com/quotes/about/view-bitcoin-5381038/) ## Related quotes > [Bitcoins are like gold bars with wings. That is why I, and so many others, view bitcoin and its network as gold 2.0.](https://sms4smile.com/quotes/tyler-winklevoss/bitcoins-are-like-gold-bars-with-wings-that-is-why-i-and-so-many/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [I believe the world economy will crash when Russia or China moves to a gold-backed currency. They know that when this thing blows, the…](https://sms4smile.com/quotes/max-keiser/i-believe-the-world-economy-will-crash-when-russia-or-china-moves-to/) [Max Keiser](https://sms4smile.com/quotes/author/max-keiser/) > [I think the technology will get bigger and the price of Bitcoin will go up, so I'm speculating to increase my purchasing power. But…](https://sms4smile.com/quotes/olaf-carlson-wee/i-think-the-technology-will-get-bigger-and-the-price-of-bitcoin-will/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Polychain is investing in blockchain assets. We do not invest in private companies or hold shares in private companies. We invest purely in tokens…](https://sms4smile.com/quotes/olaf-carlson-wee/polychain-is-investing-in-blockchain-assets-we-do-not-invest-in/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [I've been through a lot of moments when other people thought Bitcoin was going to implode, and in those instances, I generally have seen…](https://sms4smile.com/quotes/olaf-carlson-wee/i-ve-been-through-a-lot-of-moments-when-other-people-thought-bitcoin/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Taxes have been complicated. Every single time I spend a Bitcoin, it's a taxable event. It's like I bought and sold an asset. It…](https://sms4smile.com/quotes/olaf-carlson-wee/taxes-have-been-complicated-every-single-time-i-spend-a-bitcoin-it-s/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [There will be many types of assets codified into the blockchain, and they are all not just going to be on the bitcoin blockchain…](https://sms4smile.com/quotes/olaf-carlson-wee/there-will-be-many-types-of-assets-codified-into-the-blockchain-and/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Application-specific tokens, or app-tokens, are built on top of existing general-purpose blockchains like Bitcoin and Ethereum. For the first time, open-source project creators can…](https://sms4smile.com/quotes/olaf-carlson-wee/application-specific-tokens-or-app-tokens-are-built-on-top-of/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Until part of your paycheck is regularly paid in Bitcoin, I'm not sure how it would really go mainstream. I can imagine places in…](https://sms4smile.com/quotes/gavin-andresen/until-part-of-your-paycheck-is-regularly-paid-in-bitcoin-i-m-not-sure/) [Gavin Andresen](https://sms4smile.com/quotes/author/gavin-andresen/) > [Exchanging bitcoin on behalf of ransomware victims should not be construed as criminal activity by the exchanger, not as a matter of law nor…](https://sms4smile.com/quotes/perianne-boring/exchanging-bitcoin-on-behalf-of-ransomware-victims-should-not-be/) [Perianne Boring](https://sms4smile.com/quotes/author/perianne-boring/) > [Sir Richard Branson started out as a small business owner and now owns a conglomerate that will give you a ride to the moon.…](https://sms4smile.com/quotes/perianne-boring/sir-richard-branson-started-out-as-a-small-business-owner-and-now/) [Perianne Boring](https://sms4smile.com/quotes/author/perianne-boring/) > [We need to come up with use cases for this technology that drive clear benefits for individuals and institutions - these are our customers.…](https://sms4smile.com/quotes/abigail-johnson/we-need-to-come-up-with-use-cases-for-this-technology-that-drive/) [Abigail Johnson](https://sms4smile.com/quotes/author/abigail-johnson/) > [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/) > [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 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/) ## More by Olaf Carlson-Wee > [In a world with many blockchains and hundreds of tradable tokens built on top of them, entire industries are automated through software, venture capital…](https://sms4smile.com/quotes/olaf-carlson-wee/in-a-world-with-many-blockchains-and-hundreds-of-tradable-tokens/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [This is unproven technology, and if you don't know what you're doing, you shouldn't interact with tokens - from an investor and security perspective.](https://sms4smile.com/quotes/olaf-carlson-wee/this-is-unproven-technology-and-if-you-don-t-know-what-you-re-doing/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [For the first time, entrepreneurs can monetize their own open-source and peer-to-peer network. They can crowdfund and raise money from people across the world…](https://sms4smile.com/quotes/olaf-carlson-wee/for-the-first-time-entrepreneurs-can-monetize-their-own-open-source/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Application-specific tokens, or app-tokens, are built on top of existing general-purpose blockchains like Bitcoin and Ethereum. For the first time, open-source project creators can…](https://sms4smile.com/quotes/olaf-carlson-wee/application-specific-tokens-or-app-tokens-are-built-on-top-of/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [There will be many types of assets codified into the blockchain, and they are all not just going to be on the bitcoin blockchain…](https://sms4smile.com/quotes/olaf-carlson-wee/there-will-be-many-types-of-assets-codified-into-the-blockchain-and/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [It doesn't always make sense to have a token on the blockchain that is both useful and represents ownership - it has to be…](https://sms4smile.com/quotes/olaf-carlson-wee/it-doesn-t-always-make-sense-to-have-a-token-on-the-blockchain-that/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Taxes have been complicated. Every single time I spend a Bitcoin, it's a taxable event. It's like I bought and sold an asset. It…](https://sms4smile.com/quotes/olaf-carlson-wee/taxes-have-been-complicated-every-single-time-i-spend-a-bitcoin-it-s/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [If the Numerai fund performs well, that should lead to more assets under management, which should lead to more revenue for Numerai's general partner,…](https://sms4smile.com/quotes/olaf-carlson-wee/if-the-numerai-fund-performs-well-that-should-lead-to-more-assets/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [I've been through a lot of moments when other people thought Bitcoin was going to implode, and in those instances, I generally have seen…](https://sms4smile.com/quotes/olaf-carlson-wee/i-ve-been-through-a-lot-of-moments-when-other-people-thought-bitcoin/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [We are seeing more managed money and, to an extent, institutional money entering the space. Anecdotally speaking, I know of many people who are…](https://sms4smile.com/quotes/olaf-carlson-wee/we-are-seeing-more-managed-money-and-to-an-extent-institutional-money/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [We are seeing entrepreneurs issuing their own blockchain-based tokens to raise money for their networks, sidestepping the traditional, exclusive world of venture capital altogether.…](https://sms4smile.com/quotes/olaf-carlson-wee/we-are-seeing-entrepreneurs-issuing-their-own-blockchain-based-tokens/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Polychain is investing in blockchain assets. We do not invest in private companies or hold shares in private companies. We invest purely in tokens…](https://sms4smile.com/quotes/olaf-carlson-wee/polychain-is-investing-in-blockchain-assets-we-do-not-invest-in/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [When decentralized blockchain protocols start displacing the centralized web services that dominate the current Internet, we'll start to see real internet-based sovereignty. The future…](https://sms4smile.com/quotes/olaf-carlson-wee/when-decentralized-blockchain-protocols-start-displacing-the/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [I think the technology will get bigger and the price of Bitcoin will go up, so I'm speculating to increase my purchasing power. But…](https://sms4smile.com/quotes/olaf-carlson-wee/i-think-the-technology-will-get-bigger-and-the-price-of-bitcoin-will/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Polychain manages a hedge fund that invests exclusively in digital assets. We invest exclusively in protocols, not companies, and we do this by investing…](https://sms4smile.com/quotes/olaf-carlson-wee/polychain-manages-a-hedge-fund-that-invests-exclusively-in-digital/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) [Explore all 20 Olaf Carlson-Wee quotes ](https://sms4smile.com/quotes/author/olaf-carlson-wee/) ## More Bitcoin quotes > [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 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/) > [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/) > [We need to come up with use cases for this technology that drive clear benefits for individuals and institutions - these are our customers.…](https://sms4smile.com/quotes/abigail-johnson/we-need-to-come-up-with-use-cases-for-this-technology-that-drive/) [Abigail Johnson](https://sms4smile.com/quotes/author/abigail-johnson/) > [Sir Richard Branson started out as a small business owner and now owns a conglomerate that will give you a ride to the moon.…](https://sms4smile.com/quotes/perianne-boring/sir-richard-branson-started-out-as-a-small-business-owner-and-now/) [Perianne Boring](https://sms4smile.com/quotes/author/perianne-boring/) > [Exchanging bitcoin on behalf of ransomware victims should not be construed as criminal activity by the exchanger, not as a matter of law nor…](https://sms4smile.com/quotes/perianne-boring/exchanging-bitcoin-on-behalf-of-ransomware-victims-should-not-be/) [Perianne Boring](https://sms4smile.com/quotes/author/perianne-boring/) > [Until part of your paycheck is regularly paid in Bitcoin, I'm not sure how it would really go mainstream. I can imagine places in…](https://sms4smile.com/quotes/gavin-andresen/until-part-of-your-paycheck-is-regularly-paid-in-bitcoin-i-m-not-sure/) [Gavin Andresen](https://sms4smile.com/quotes/author/gavin-andresen/) > [Calling bitcoin volatile - it's a non-statement. Unregulated assets with unclear regulatory landscapes are always going to be volatile. That's what unregulated assets do.](https://sms4smile.com/quotes/tyler-winklevoss/calling-bitcoin-volatile-it-s-a-non-statement-unregulated-assets-with/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [We see bitcoin as potentially the greatest social network of all.](https://sms4smile.com/quotes/tyler-winklevoss/we-see-bitcoin-as-potentially-the-greatest-social-network-of-all/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [As the platform and protocol become more ingrained in society, get built into products and services, and basically become more of the mesh of…](https://sms4smile.com/quotes/barry-silbert/as-the-platform-and-protocol-become-more-ingrained-in-society-get/) [Barry Silbert](https://sms4smile.com/quotes/author/barry-silbert/) > [Bitcoin is not “unregulated”. It is regulated by algorithm instead of being regulated by government bureaucracies. Un-corrupted.](https://sms4smile.com/quotes/andreas-antonopoulos/bitcoin-is-not-unregulated-it-is-regulated-by-algorithm-instead-of/) [Andreas Antonopoulos](https://sms4smile.com/quotes/author/andreas-antonopoulos/) > [The rudest possible gift is a gift card. It means you think the person is stupid and has no interests. The only good gift…](https://sms4smile.com/quotes/john-waters/the-rudest-possible-gift-is-a-gift-card-it-means-you-think-the-person/) [John Waters](https://sms4smile.com/quotes/author/john-waters/) > [If the U.S. government tries to restrict or clamp down, that just means there will be many more bitcoin businesses in Hong Kong and…](https://sms4smile.com/quotes/roger-ver/if-the-u-s-government-tries-to-restrict-or-clamp-down-that-just-means/) [Roger Ver](https://sms4smile.com/quotes/author/roger-ver/) > [What bitcoin does better than the current financial system is it's a better stored value globally. There are a lot of countries that really…](https://sms4smile.com/quotes/adam-draper/what-bitcoin-does-better-than-the-current-financial-system-is-it-s-a/) [Adam Draper](https://sms4smile.com/quotes/author/adam-draper/) > [You really want some natural way for people to get Bitcoins, as part of their paycheck or some other activity so they can turn…](https://sms4smile.com/quotes/gavin-andresen/you-really-want-some-natural-way-for-people-to-get-bitcoins-as-part/) [Gavin Andresen](https://sms4smile.com/quotes/author/gavin-andresen/) [Browse all 364 Bitcoin quotes ](https://sms4smile.com/quotes/about/bitcoin/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "I view Bitcoin as the more democratic version of money and value transfer because no one controls it... 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