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When first explaining Bitcoin to people, it can be difficult to find a place to begin. After consuming endless amounts of content that discuss economics, philosophy and history, there is not a single clear place to start. Of course, it helps to tailor each introduction that you present to the person you are presenting to, as with anything. But one key factor in understanding Bitcoin, as Captain Sidd and I discussed on this week's episode of “Meet The Taco Plebs,” is helping others understand the problems that Bitcoin solves. In addition to this, we discussed what introduced Sidd to bitcoin, how it has changed his life and his predictions for the future. Make sure to give the audio podcast a listen, and read our interview below.
What’s your Bitcoin rabbit hole story?
When unanswered questions about modern economic theory clashed with my readings on emerging technologies — especially through a book titled “Throwing Rocks At The Google Bus” — the need for Bitcoin and decentralized systems clicked. I fell out of love with “crypto” through an experience fundraising for a bitcoin mining farm, where I learned the importance of a rock-solid consensus mechanism. Bitcoin has it, others don't.
How has Bitcoin changed your life?
Two ways: it serves as a simple vehicle for saving that allowed me to focus on producing value, instead of gambling to find arbitrage opportunities and "quick wins.” By seeing how “experts” in finance use jargon to obfuscate the truth, I gained a distrust of experts and anyone who cannot break down their domain's jargon into simple, easily understood concepts.
Your pieces are incredibly straightforward and insightful, and they explain things in ways that both bitcoiners and nocoiners can understand. What's your process for creating these articles, and what do you think is the most important thing to understand for someone wanting to learn about bitcoin?
Thank you! I look for patterns and metaphors that help me boil down complex jargon into simple models. What I write about is usually something I've been mulling over for years, with a lot of stops, starts and meanderings. Writing an article just happens when something clicks in a way that I think others will understand.
What are you most looking forward to in the Bitcoin space?
Two things: more nation state adoption, and implementation of mining by energy producers. Nation state adoption by itself is not that interesting, but I believe it will drive conversation and questions at the governmental level — forcing leaders to publicly answer questions about bitcoin and the monetary system. That will lay bare the insanity of what they're peddling to us.
Price prediction for the end of 2021, and the end of 2030?
2021: Under $100,000 because everyone seems to think we'll break it!
2030: No number in mind. Whereas the 2017 bull run was driven by the desire to get rich, the next nine years will be driven by the desire to avoid poverty as inflation takes hold. Bitcoin could be worth $1 billion by 2030 — but what will a loaf of bread cost? Not to mention a decent steak…