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For this episode of Bitcoin Magazine’s “Meet The Taco Plebs,” I was joined by Labra HODL (@labrahodl6), one of the star memers of Bitcoin Twitter.
Labra and I kick off this conversation with him sharing his rabbit hole story and how he came to Bitcoin. He tells us that Bitcoin first popped up on his radar all the way back in 2010. He didn’t dive too deep into it then and get involved, unfortunately, but not long after, he heard about it again when PayPal was blocking bitcoin payments. This caught his attention even more and then he dove headfirst into bitcoin in 2017 during the last bull run. And the rest is history!
Over the course of this interview, Labra shared that adopting a lower time preference has changed his life and allowed him to save more. We talked a bit about responsibility and work experience. Many kids and teenagers today (here in the U.S.) do not work anymore. Working summer/winter jobs and doing work like mowing grass and raking leaves are opportunities wasted by so many today. They are not learning the responsibility that having a job takes and then the responsibility of the money that comes with it.
Some of Labra’s favorite things about Bitcoin are the ability to self custody your wealth and the opportunity to store your monetary energy into a capped supply of 21 million. Your wealth does not get inflated away with bitcoin and that allows you to actually save your wealth. It’s impossible to save in fiat, so this is life changing. And also, he’s extremely bullish on the Bitcoin Zoomers!
Below are some of Labra’s most interesting thoughts shared during the interview. And be sure to check out the full episode for more.
How Did You Find Bitcoin And Fall Down The Rabbit Hole?
The first time I heard about Bitcoin was around 2010 or 2011, I used to follow WikiLeaks a lot, and one day, I read the news that PayPal froze WikiLeaks' donations and that WikiLeaks started to accept donations in bitcoin. I didn't pay too much attention but the seed was planted.
I didn't buy my first bitcoin until the crazy bull run of 2017. I bought in December at $12,000, Bitcoin was on the news and I could not ignore it anymore, I saw it go to $20,000 and I didn't understand what was going on, then it crashed down to $3,000. During 2018 to 2019, I took the time to educate myself and understand the economics and technology, I wanted to understand what is that thing that just goes crazy on price. Then, the March 2020 crash came and I found Bitcoin Twitter with all of the cool memes and awesome PLEBS. I became a hardcore stacker since then.
How Has Bitcoin Changed Your Life?
My time preferences have changed radically. I used to get paid and I had to spend that money. Where I am living right now, the inflation rate is around 10 percent per year, according to the government, but in reality it is around 15 percent to 20 percent. In a way, that forces you to spend your fiat fast, otherwise, it loses value. I’m glad we have Bitcoin, thanks to Satoshi and all the people who contribute.
What Is The Most Amazing Thing About Bitcoin To You?
The fact that we can send value across time and space is something that we have never seen before and very few people understand.
What Are You Most Looking Forward To In The Bitcoin Space?
The Lightning Network is something that amazes me, instant payments and being accessible to anybody who has a mobile phone. It's incredible that you can send money instantly at any time to the other side of the planet.
What Is Your Price Prediction For The End Of 2021 And The End Of 2030?
I'm really bad at giving price predictions. The target is infinity, LOL, but by the end of 2021, I wouldn’t be surprised to see bitcoin at $100,000 and above $1 million by 2030. (Yes, I know that’s a little bearish, insert bear emoji here LOL) all because of NGU, the #CONTANGO and #SATSQUEEZE.