Thread by @dergigi

1/ Had a really fun, free-flowing conversation with @heavilyarmedc on the Bitcoin Echo Chamber pod. #BEC 22 on the paradigm shift we are living through right now.

Some notes below 👇

https://twitter.com/heavilyarmedc/status/1143281528639807490

2/ Shout-out to everyone who is innovating at the edge. @LightningK0ala building cool ⚡️ stuff like satoshis.place & koalastud.io, @cryptograffiti innovating in the art space, ... Can't wait to see what this future paradigm will bring!

https://twitter.com/cryptograffiti/status/1075463907123200000

3/ As mentioned on the pod, I hope we will move away from an ad-based model and move towards a direct, support-based model. h/t @tippin_me, @tallyco_in, @vandrewattycpa of LibrePatron, and of course @BtcpayServer 🙏

4/ Bitcoin will make proper "digital hygiene" increasingly important. Opt-out of tracking. pi-hole.net is a great solution for the whole family. @eff's PrivacyBadger is available for all major browsers. For even more tools, have a look at prism-break.org

5/ "The greatest shortcoming of the human race is our inability to understand the exponential function."

I have the feeling that the likes of @BitcoinTina are right to be hyper-bullish on Bitcoin. Listen to him on @TFTC21 anchor.fm/tales-from-the…

6/ Just like the internet is sucking up all information, Bitcoin has the potential to suck up all value. The gravity of Bitcoin is strong already; with hyperbitcoinization, Bitcoin has the potential to become the black hole of our economy.

dergigi.com/2019/05/01/bit…

7/ @maxkeiser's 100k BTC prediction is pretty conservative if something approximating hyperbitcoinization will happen.

Maybe the time traveller is right, and denominating in $USD terms will be nonsensical soon. In any case, I welcome our Citadel future.

https://twitter.com/TheCryptoconomy/status/1142190670188298241

8/ When the next parabolic move will happen is anyone's guess. Thus, whether @officialmcafee will have to eat his dick or not is to be seen. Btw John, I've heard you still owe some appearences on @decentralizedtv!

9/ Digital scarcity in an information economy is an interesting juxtaposition. @HillebrandMax is writing about that and more in his thesis: github.com/MaxHillebrand/…

I recommend you listen to his thoughts on @crypto_voices

https://twitter.com/crypto_voices/status/1142397576437751808

10/ Whatever happens, it will be interesting to see cyberspace evolve, now that we have real scarcity. Scarcity is scarce in itself, and as @saifedean points out only two things are truly scarce: time and bitcoin.

dergigi.com/bitcoin/lesson…

11/ I believe that the growth of Bitcoin will eventually lead to a closed-loop economy, denominated in sats. Apps like @Square's @CashApp are already supporting Bitcoin, and with @sqcrypto I have the feeling that great things lie ahead.

Did I already mention that I'm bullish?

12/ We are still so early. Most people outside of our bubble have no idea what's going on, and many people will be blind-sided by the rise of Bitcoin. Just like people were blind-sided by the rise of computers, the internet, mobile phones, smart phones, and other technologies.

13/ In my opinion, the best metaphor for Bitcoin's future is the internet itself. Network effects lead to exponential growth; it seems like nothing happens at all for a very long time, until the "explosion" - then everything happens at once.

dergigi.com/bitcoin/lesson…

14/ Remember, since this is early days, people suffer from all sorts of biases.

Unit bias ("I can't afford a whole bitcoin"), version bias ("Version 0.18.0? I'd rather use shitcoin version 2.0!"), and other mental blocks ("I'm too late!") are prevalent.

https://twitter.com/dergigi/status/1142919470547161088

15/ Outside of cyberspace, the macroeconomic landscape is setting itself up for a perfect storm.

But: we are living in amazing times. As @sapinker points out the world is objectively better and more peaceful than ever before. Hans Rosling shows this beautifully as well.

16/ That's not to imply that this will be a smooth ride. Bitcoin will continue to be volatile, using Bitcoin properly is far from trivial, and protecting / holding on to your bitcoins is hard as well.

In the words of @BitcoinErrorLog: "bitcoins want to be free!"

17/ The trend, however, is quite clear. People like @100trillionUSD do an amazing job of showing the big picture. Bitcoin's stock-to-flow ratio will go through the roof soon, making it the hardest money to ever exist.

Bonus: it's pure monetary premium.

17/ Bitcoin is sound money. It is libre, free-speech money. It is borderless, permissionless, and resistant to censorship.

Running a node is easier than ever, thanks to @pierre_rochard's Node Launcher, @nodl_it, @CasaHODL, @SamouraiWallet's Dojo, @Stadicus3000, @rootzoll, etc

18/ If you want to read more about Bitcoin and the questions it poses have a look at 21lessons.com - some updates are yet to come, so stay tuned. Let's see how deep this rabbit hole goes.

19/ Again, huge shout-out to Guy Swann from @TheCryptoconomy podcast for giving 21 Lessons a voice. Also, shout-out to @infominer33 who did a great job curating all episodes of Guy's podcast. sourcecrypto.pub/blog/thecrypto…

20/ I also plan to continually work on bitcoin-resources.com - sections on privacy and security are in the works, and I plan to add more books, articles, and podcast episodes continually.

21/ Thanks again to @heavilyarmedc for having me, and thanks to everyone who helps to make this space more digestible and easier to understand.

<3