Why Are You Buying Me a Home If You Think Bitcoin is Stupid?
Getting straight to the point first: if you are convinced that bitcoin is stupid, and it is a digital “nothing” then you have to promise (to yourself mostly) that you won’t buy Bitcoin. Ever.
Let me explain.
You have to understand that even though I am a bitcoiner, I am also a human… And as any human, I have needs, wants, ambitions. But if you (as a normie) truly want to depict me in a bad light, I’m also greedy. I’m okay with that.
For now Bitcoin isn’t yet “fulfilled”. We use it as currency only among bitcoiners but for the general population Bitcoin is too abstract. They don’t see it as money (yet).
So for the most part we treat Bitcoin as a savings account. We convert our surplus of fiat money into bitcoin and we simply leave it there - on the blockchain - secured with a hardware wallet. (Not your keys, not your coins!)
But… when Bitcoin reaches new all-time highs do you really think I (and some other bitcoiners) will look at it indifferently!? Without the temptation of trimming a small portion of my position?
If it’s a savings account, at different times, I’ll probably dip into those savings to finance my needs or my whims. I’m merely human. Most likely I will do that when bitcoin grows towards a new top - I won’t know when to mark the top but I’ll sell on growth.
I’m not a philosophical being that only lives for the propagation of Austrian economics theory. I’m not a spirit that charges on goodwill and sunlight. I’m not a god whose sole purpose is to give to each human the gift of hard money (Satoshi already did that!).
I may want an orchard to tend to in my old age. I may want a cabin in that orchard. I may want a trip to Alaska (two trips actually: one in winter and one in the summer). I may want to live for a year in a certain country just to learn the language from locals. And so on.
How will I be able to afford all that?
I’ll do it with my savings that appreciate in value. There is a constant stream of people who become bitcoiners and there are the speculation bubbles in bitcoin. (Those higher bottoms between the bubbles in the bitcoin chart are set by the bitcoiners who simply don’t sell.) When the speculation is rampant, bitcoin appreciates like crazy.
Now, when this happens you will hear more and more people around you making money from bitcoin and you might be tempted to buy. Whenever someone buys, someone else sells. So if you buy, you’ll basically finance the dreams and whims of another person who’s selling (it might be a bitcoiner, it might be me).
Ideally I won’t sell. Whenever I bring bitcoin into the marketplace (exchange) I’m only making it more vulnerable (easy to be captured in a centralized place) and I’m helping the price go down.
Hopefully the current orchard owner will become a bitcoiner by the time I’m ready to buy from him. Hopefully the cabin builders will accept bitcoin as well. Why pay capital gains to the bureaucrats (high level parasites) who didn’t take on any risk but want to participate in taking profit?! We can also anonymize bitcoin - you know about this right?
Anyway, when bitcoin pumps my bags get heavier. And I can buy more. Real stuff! Land. Houses. Nice trips.
Please don’t be that guy that now says bitcoin is stupid and after 3, 5 or 10 years buys bitcoin at all time highs because he can’t help himself and wants to make money. Because if you do buy bitcoin on a steep climb upwards you’ll be basically buying me a second home.
You also might get burned and… become a bitcoiner the hard way. Hopefully. That would be a happy ending even though you might not feel that way.
I’m always happy when people change their minds about bitcoin. You will be welcomed into the club. But before actually buying bitcoin you’ll have to pay another price to enter this club: you must pay with time and attention and diligence in order to learn what bitcoin is. Then and only then you are allowed to have an opinion about it. Then you can buy with conviction (if you get it) not because of FOMO. Even more, you’ll ask to be paid in bitcoin.
But if you don’t want to study and you already know bitcoin is stupid. Well… don’t buy bitcoin ever so you can stand by your conviction and at least be theoretically right. I take my chances of being wrong.
PS - Bitcoin benefits anyone who works and saves and takes power away from the bureaucrats who push papers around and decide the destiny of millions of people without doing any real work. I’m assuming that you, like most people, are dissatisfied with politicians.
Bitcoin is a tool that lets you depend less on them. It’s the technical solution to the political problem. Think about that. Peace!
Written by: youtube.com/@cesuntbanii, a bitcoiner from Romania 🫡