, 23 tweets, 4 min read Read on Twitter
Five things I've learned after a year of being seriously into #Bitcoin.
1. There's little correlation between early adopters and intelligence. It seems to me that many OG's didn't realise the incredible thing they were sitting on, and either rage quit when they didn't get their
own way, forked a new coin just to get some random feature they thought everyone needed, or sold their coins early thinking Bitcoin had hit the top. Many just got offered buckets of cash to go shill or work on shitcoins. Most OGs were just lucky, not smart.
That said, the OGs who still understand what Bitcoin is at this point are battle tested enough to be worth listening to.
2. It's not clear what Bitcoin is exactly. Metaphors abound. But just like there was really nothing to liken the internet to and we now understand it as its own phenomenon, I think Bitcoin will eventually be seen like that. Yes it's a bit like Gold. Yes it's like money. But
there's something else about it. Civilisation as we know it has not seen the free market decide an artificial good is money. Overweight bankers writing essays on how it's going to play out are quite frankly, embarrassing themselves.
3. VERY few people understand how scarce Bitcoin is. VCs who like to sound smart (they are smart tbh) often say the breakthrough in Bitcoin is digital scarcity, as if to say, we have scarcity in the real world, but now we have digital scarcity. No! That's wrong.
We have NEVER had scarcity of ANYTHING until now.
"Oh but there's only one Mona Lisa." True. But there's infinite canvases, paint, and talented artists who will make more. And noone plans to use Mona Lisa as money. Gold? There are untold tonnes of gold beneath our feet, and
every year we get more efficient and automated at digging it up. There are entire continents on Earth that we haven't scratched the surface of that are full of gold. Oil? We can grow it. Food? We throw out more food than we can eat.
In 30 years the daily issuance of Bitcoin will be just over 7 coins per day. It's currently 1800 new coins per day. It will make gold seem hyperinflationary. And when they're all mined, THAT'S IT! What other commodity on this earth have humans EVER stopped being able to create?
4. Bitcoin is ALREADY money. I know everyone who's trying to shill Bitcoin to Wall Street likes to pretend the dark web disappeared when Silk Road closed. But it didn't. It's roaring along. And guess what their currency is?! It's Bitcoin. It's not uncommon to see sellers on Dream
Market explicitly saying "no bcash". And they don't even pretend to be interested in receiving BSV or the latest shitcoin. They want BTC. They (many of them at least) know how to stay anonymous with BTC. This is money to them. They're not trying to switch back to USD each day.
And there's plenty of folks in other markets keen to receive Bitcoin. A popular buy and sell app here in Aus is called Gum Tree. A quick search for "Bitcoin" on there reveals hundreds, if not thousands, of listings of people willing to accept Bitcoin as payment for their items.
And this is despite the decline in the BTC exchange rate last year.
No-one is waiting for Bitcoin to be blessed with an ETF. No-one needs Bakkt to come to town to hold their hands with this thing. We're using it today.
The best thing I ever bought with Bitcoin was some cigars. I still have some of them. I was able to pay a seller overseas who only accepted Bitcoin and who would have presumably had a major hassle trying to deal with government regulated banking system.
5. Bitcoin appeals to those on the right, but it SHOULD appeal to those on the left far more. Finally we have a tool that will stop the most vulnerable in our communities from having what small income they can acquire stolen through inflation.
In the future, no matter how poor you find yourself, whatever job you can do, if you can save some small amount in the form of BTC satoshis, you have a chance at getting into the property market, investing in an income generating asset, or simply having something of value to
leave to your children. If the super rich spend their BTC, this will spread the coins throughout the economy and create jobs. If they hoard their coins, this simply makes everyone else's BTC more valuable.
There's a no-lose situation with the wider community with respect to what the super rich do with their BTC. The same can't be said with today's system. When large institutions borrow billions, they're rich, they dilute my money and make me poorer,
and this forces me to keep working for them so I can stay on the treadmill of this moronic rat race.
If I try and save for a home, I live in constant fear that prices will rise quicker than I can save.
So I'm encouraged to go in to debt.
Which increases the money supply.
Which dilutes the value of everyone's money.
Which pushes prices up.
Which encourages you to borrow..........
If people could store their wealth in money, they wouldn't spend so much of it on real estate. Which would reduce speculative demand for houses. Which would free up stock and reduce prices for people who want to buy a home to live in.
This reduces homelessness, encourages saving, and helps break poverty cycles.

I currently work with and next to some of the most vulnerable and desperate people in the community. They live one month away from homelessness most of their lives.
I love these people. I want to help them

That is why I will support Bitcoin until it is the global reserve currency

That is why I hate alt coins & cryptocurrency scammers and ICOs and pump and dump VCs and everyone else in this space trying to rent seek off the back of Bitcoin
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