This article is the written version of a video presentation which can be viewed here[1]:
Bitcoin is outdated. Bitcoin is too slow. Bitcoin is too simple.
Chances are you’ve heard one of these arguments, or maybe even made some of these claims yourself.
With bitcoin sitting around $40,000 at the time of this video, many people feel as though they have missed the boat. “If I just could have gotten in at $10, $100, or even $1,000,” they think, “then I’d be set for life.”
The truth, of course, is not so simple. In reality, if you would have bought bitcoin at $10, you likely would have sold right around $20 and then bragged to your friends about your 100% gains. Or maybe you would have ended up like this guy:
It takes a special — maybe even a bit crazy — type of person to sit on 300,000% unrealized gains. Chances are you’re not that guy. This then brings us to a very important point. It is not about when you buy; it’s about why you buy. Many people who first got into bitcoin over a decade ago remain broke, while many others who just a few years ago began religiously stacking sats are sitting comfortably. The difference lies entirely in philosophy.
And chances are, if you’re searching for “the next bitcoin” you have a flawed philosophy. You likely suffer from one of the following conditions:
You don’t fully understand Bitcoin’s purpose.
You don’t fully understand bitcoin’s upside.
Or you don’t fully understand what makes Bitcoin special.
The focus of this article will be on the third condition.
What makes Bitcoin special is not simply the fact that it was the first cryptocurrency. When it
