My Conviction For Bitcoin
Prologue
I am a Bitcoiner.
I discovered the popular crypto-asset in 2013 after learning about it from a grad student that used the new computer labs on campus to mine over 2,000 of them in a summer semester. Assuming he didn’t sell, he’s probably doing alright now.
So why did I take this dive?
Let me tell you.
Back Story
Ever since I was a kid, I was pushed towards working with numbers. I recall countless summers spent at my grandparents place being required to complete math books and exercises. I hated that, I just wanted to play video games. As time passed on eventually I found myself completing an Economics program at university, only to change my major at the last second before graduation and pursue accounting.
I worked in accounting for a bit, loathed it, left it, and then went to pursue automation technology. After completing that program, I joined a start up as its non-founding member, helped grow it to 20 people after a few years; then got recruited into the corporate world. I hedged by bets and did my CPA during this time as well (at time of writing, I’m awaiting designation).
Then as I’m sure you’ve noticed Covid-19 hit the world like a sack of bricks right upside the head. Knocking everything off kilter this catalyzed a series of previously converging events that were already coming to head whether we were ready for it or not. Rising debt levels, rising wealth inequality, human rights abuses, a mental health crisis, geo-political tensions, civil discourse, an ill equipped health system, increasing concentration of political authority, and the list goes on.
How I Got (Re)Introduced
Like many I played within the existing framework. Working my 9 - 5, contributing to my retirement account, paying my taxes, going out on weekends, navigating a changing world during the pandemic, etc. It was in late 2020, I was reintroduced to Bitcoin by my Mother of all people (not what I would have expected). She had been diving into the alternative investment space, and encouraged me to pull on this thread.
She’ll be the first to tell you that I was skeptical and resistant. Whether it be a product of my ego, indoctrination for the existing system or some combination thereof I had adopted the same narrative that many of us still share: “it’s a scam”, “it’s a Ponzi scheme”, “there’s no value”, etc. Regardless, with a push I put some skin in the game, buying my first bit of Bitcoin (see what I did there?) on November 1st, 2020.
Down the Rabbit Hole
Like with anything, once you put some skin in the game you can’t help but explore it in more detail. Since my dive down the rabbit hole of the crypto space, I have spent a consequential amount of time learning this space outside my career.
I am going to keep my narrative focused on Bitcoin; not that other projects are not important; just more so because I currently have a stronger understanding of Bitcoin. Here is what I have learned in my brief 6 months into this space so far:
There are a lot a really terrible people out there that will try and scam you, especially when the price of the asset is going up. Exercise caution.
This community is very open and welcoming. Like with any organization, there are always toxic players, don’t give them any oxygen or footing to stand on.
If you’re looking to learn I recommend listing the What Is Money show by Robert Breedlove.
If you’re looking to engage I advise checking out this subreddit dedicated to Bitcoin, especially if you’re into the memes.
This is not intended to be a get rich quick scheme. If you’re using Bitcoin, or any other crypto asset to solely make a quick buck, you are failing to understand the importance the underlying technology offered by blockchains and the functional intent Bitcoin has for society at large.
Relative to nation state currencies such as the Euro, US Dollar, Japanese Yen, etc. Bitcoin is the lifeboat that can help to absolve many of the societal ills as Bitcoin has no agenda, it just is.
More of this to come at a future date.
Bitcoin is the most important network created since the adopting of the Internet; and we’re still in the very early stages of adoption.
You need to be prepared to numb yourself to the price swings. As someone who is “irresponsibly long” on this technology I’ve become used to seeing my net worth swing 30% in a day.
Once you truly begin to understand the technology of Bitcoin and what it offers to people you will never be able to see the world the same way ever again; I caution this strongly, diving down this rabbit hole is not for the faint of heart and close minded.
On this note once you truly understand the technology of Bitcoin you won’t care about the swings in price as you will begin to see that it’s equally if not more risky to hold conventional dollar based assets over the long run.
Everything I ever believed about the traditional finance space being completely rewritten before my eyes and I can’t unlearn that which I have learned since.
Closing Thoughts
If you’ve made it this far, congratulations! If you know me personally, you’re probably thinking I’m crazy. If you don’t know me your probably also thinking the same. I get that, and personally I don’t care; it’s not my job to convince you, but it is my desire to help guide others into this space and explore it should they wish to.
Over the coming decade expect future pieces from me on the development of this space, educational material to help navigate this changing world and opinion pieces every now and again when I feel the need to rant once in a while.
If you have any questions or want to learn more, please drop me an email and I’ll get back to you.