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We’re So Damn Early
You’ve heard people say “we’re so early” so many times, it might sound like a meme at this point. But do you recognize where we are in Bitcoin’s adoption lifecycle?
Being early is subjective depending on who you’re asking. If you ask an “OG”, early can mean sub $100 Bitcoin or pre-blocksize wars. For others around the globe, Bitcoin is just entering the conversation. Many have yet to realize Bitcoin is the lifeboat needed to take back individual freedom and financial sovereignty.
Look around, it’s so damn early!
Bitcoin is at a grassroots level of interest, understanding, and adoption. Ever gone to a Bitcoin meetup? Attendees are usually Bitcoin-obsessed fanatics (like ourselves).
It’s said that around 150 million people or about 2% of the world's population have Bitcoin exposure. That’s pretty small in the grand scheme of things. Plus, exposure to Bitcoin is very different for you and me.
There are people who own Bitcoin, and there are Bitcoiners.
Bitcoiners self-custody, run nodes, and are aware of FIAT malpractice committed by governments. Many of us are 100% in as far as our savings goes. I always wonder how FEW “psychopaths” there truly are.
To those you grew up around, you’re probably the only Bitcoiner they know. Most people don’t understand what you are talking about and think you’re crazy. For now, the early adopters are here.
Another sign of how early we are…FIAT still holds value.
It sounds nuts, but there are people who would rather save in a currency guaranteed to lose value than one based on scarcity and decentralization.
For boomers and pre-coiners, saving in Bitcoin seems hard to grasp when compared to the US Dollar. But what about the other FIAT Currencies? No one is willing to trade Bitcoin for Venezuelan Bolivares. The same will go for the other FIAT currencies. They are bleeding value on a path to death. Some faster than others.
It’s hard to picture life on a hard money standard. But for Bitcoiners, we’ve already changed our unit of account to Bitcoin/sats. We care about having more sats today than we did the day before. THE PARADIGM HAS SHIFTED.
One hard truth about how early we are is…Bitcoin is not ready for the world.
People still don’t know where to buy/sell or have easy access to do so. They’ve never heard of a wallet or private key. Even “crypto” people still have no idea the Lightning Network exists.
However, Bitcoin is going through huge UX improvements. The steep learning curve continues to flatten. It’ll get to a point people won’t realize they are interfacing with Bitcoin.
Like the early days of the internet, it feels like the ’90s. You know, dial-up connection type shit. No one would have ever imagined whipping out a smartphone and streaming movies on Netflix. The future of Bitcoin is yet to be conceptualized.
The good news about all this is that you have an asymmetric advantage when stacking “corn”. The learning curve to understanding money, politics, energy, and self-custody is pretty steep. This is a race to obtain knowledge. We’ve all shown our proof of work.
Stack hard plebs.
“Those strapped with the knowledge will come out winners. If a lot of other people make the same prediction, the price will already reflect it, and there's no room to make money. The only valuable insights are the ones most other investors don't share.” - Paul Graham