I was having some work done on my house and met a gentleman who had recently fled Venezuela with his family under refugee status. He was a school teacher living a good life with his family. Unfortunately, circumstances changed and he had to flee his beloved country. He shared horror stories of going to the bank and not being able to access his money and discussed the challenges of sending USD to help his family stuck in Venezuela. I told him there was a better way and committed myself to teaching and helping him figure out how to use Bitcoin. It took several months of networking within the Bitcoin community, but we ended up connecting the dots. Through this process I came to two realizations: Bitcoin debates do not matter to HODLers and Bitcoin is disrupting traditional technology adoption curves. These are two important points that Bitcoin haters are missing.
Bitcoin Debates Do Not Matter to HODLers
Most of my friends do not give a crap about any of the granular Bitcoin bullshit. They are smart enough to understand the value of owning it. All they want to do is buy Bitcoin and HODL. These same people are not developers or traders nor do they work in technology. As a matter of fact most of them are fairly technologically inept. This has made me hyper aware about understanding and observing the technological hurdles that lay ahead for mass scale adoption of Bitcoin and Cryptocurrencies.
Take all your engineering, developer, political and philosophical biases and put them on pause. There is something very interesting going on with Bitcoin that many people are overlooking. In traditional technology adoption curves, adoption starts in first world countries and slowly rolls out into second and third world countries. While this is primarily true with Bitcoin, we are seeing people in third and even fourth world countries, if there is such a thing, adopting Bitcoin more quickly out of pure survival. This is a very compelling trend and unique in the grand scheme of things.
Adversity Hypercharging Bitcoin Adoption
The fact is people who are stuck in places like Venezuela or countries with crazy inflationary currencies or geopolitical issues are flocking to Bitcoin - and it is not for some investment dream. They literally have no choice, they are trying to protect their money just like you or I would under the same circumstances. The fiat currency, banks and governments simply can’t be trusted. Imagine being thrown into a situation like this, you would adapt quickly and convert your money to something safer. Bitcoin happens to be this safe haven. The Crypto adoption rate in places like this has been hypercharged.
Fundamentally, this puts a huge twist on the technology adoption curve that is almost unprecedented. Bitcoin is writing its own chapter. Do you think the individuals who are living, or should I say surviving off of Bitcoin around the world in dire circumstances, give a shit what Jamie Dimon or anyone else says about Bitcoin and its future? The stakes are huge and the consequences are even bigger for them. These people do not care about the laws, regulations or drama surrounding Bitcoin. They are using Bitcoin and evolving the ecosystem in real time because they have to. Unfortunately, they were born into the wrong borders or geopolitical regions and they just want to eat, take care of their family and most importantly take control of their money.
Meanwhile, the more stable nation states are calling Bitcoin a fraud, a bubble, a pyramid scheme and trying to regulate it. The countries with geopolitical problems are also attempting to regulate, eradicate and often times criminally punish their citizens for using Bitcoin or Crypto. This is just shitty all around, but do you see the bigger picture? No government or person can or will ever stop Bitcoin. Despite their efforts, people are still buying Bitcoin and living off of it. This is why Bitcoin will never fail. It’s already in motion.
The Psychology of Bitcoin
Let’s get back to where we started. My personal friends do not give a shit about the granular Bitcoin drama bullshit. With that said, the people who are living in countries where the currency is manipulated and inflated, who are stashing their life’s savings into Bitcoin do not care about Bitcoin drama either. They, including myself, all see the same thing: Bitcoin offers everyone a DECENTRALIZED safe place to keep money that no one else in this world is offering. To put it bluntly, if you don’t trust the banks, you learn to trust Bitcoin.
Adding to this, it doesn’t matter what country you are from. These same friends and individuals have now been invested in Bitcoin and Cryptocurrency long enough to also learn the DEFLATIONARY nature of it. As Bitcoin has risen in price to all time highs, they have seen and felt first hand how Bitcoin works, as well as watched their money grow for once. The socialization and the psychology of this evolution is being underestimated and is just another reason why Bitcoin has such a powerful foundation.
Bitcoin is Freedom & Kryptonite
So what does this mean? It means Bitcoin and Cryptocurrencies are not going away. No matter what anyone tries to say or do, Bitcoin’s value will remain and increase in value over time just like it always has and always will. The days have come where the masses who are uneducated in the nuances or technological challenges that lay ahead of Bitcoin don’t really care about any of that. They just want to buy and HODL bitcoin.They see a freedom in Bitcoin that no one has ever really experienced. They also see a bright future by investing in Bitcoin.
This same freedom and future is what scares the shit out of many people who run traditional financial systems. Their fear is based on greed and lack of control. This is where the power of community and the decentralized nature of Bitcoin is the kryptonite to traditional financial systems. I am not sure how any government or system will ever undermine or undo the psychology or socialization of this type of adoption. My friend @theonevortex summed it up best about Bitcoin’s future, “Bitcoin's got nothing to worry about, it uses greed against people.” I agree, and look forward to watching the greedy get served. In the meantime, my friends, the community of Bitcoiners and I will continue to HODL and watch Bitcoin defy the masses.
My buddy from Venezuela and I text back and forth often. He has become very aware of the price of Bitcoin and continues to be blown away by the technology. We have both seen first hand how the Bitcoin ecosystem is evolving and changing the game in Venezuela and around the world. Had he not been forced to learn about it, he would have never been interested in Bitcoin. My friends in the US have not been forced to learn about Bitcoin, but they, like many of you, like everything that Bitcoin stands for. This new generation of Bitcoin HOLDers are more resistant to FUD than ever. The mainstream Bitcoin naysayers need to wisen up and look at the facts. Bitcoin adoption is a unique phenomenon. They can preach all the doom and gloom they want, but Bitcoin is here to stay.
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