Jin
Jin 2 minutes reading from Bitcoin

I Regret Buying Bitcoin at $2,200, But I Regret Not Buying $BTC

The more I learn about The Great Depression, 08-09 crash, and the FED's handling of the pandemic, the more I regret not buying BTC at 2 when I first saw it in 2011.

I had three main criticisms against it due to my own closed-mindedness - and they were all wrong

🧵

1. It's stupid fake computer money

Here's the thing - almost everything nowadays is digital. In some way, shape, or form, anything you pay for it essentially you paying for code.

Amazon, Facebook, Instagram, Twitter, Netflix, whatever.

All these things are code

I said it before and I'll say it again - the greatest investments of recent history were those that shifted hardware products/experiences to software.

Money has yet to make that transition.

If anything has a strong chance of making that possible, I firmly believe it is crypto

2. Why would I want my transactions public

Here's the thing I didn't realize back then - all your transactions are already public.

The government, the banks, vendors can all see your money trail.

I should've realized this back then ...

There's nothing I have to hide when it comes to my transactions - so this is a non-issue.

Not to mention, a public ledger is INCREDIBLY valuable to create accountability, traceability, and responsibility - all things lacking in banking

3. Once the silk road fails, BTC will fail alongside with it

At the time, I thought the only purpose of BTC was to use it as a form of currency on this website called The Silk Road.

What I should've realized was you're pay for decentralization, not currency

This was by far the biggest thing I missed.

In 2013, this website was shut down, but BTC was already at 200. It shot past 1,000 shortly thereafter.

Why?

Because whatever money you put into BTC, IT'S YOUR MONEY.

USD, Yen, Euro, Pound, etc. - that's the government's.

Although we're early, the opportunity window is rapidly closing.

This post is based on this twitter thread.

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