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Understanding Bitcoin can change your life. Once you do understand it, your entire system for evaluating what is worthy of your time, money and effort is also changed. I discussed this idea and more with the Bitcoin Conference team’s latest addition, Brad, on Twitter as @Chad_Capital.
He and I discussed how he first heard about Bitcoin, which was a result of the infectious excitement many feel about Bitcoin once they understand it. It seems that there is an exuberance that begins to come off of people once the incentives of nature align with a technological experience available to them today. He agreed, and followed up with his thoughts about how Bitcoin can change peoples’ lives. Brad has written two separate articles for us here at the magazine, one of them being titled, “Bitcoin: The Ultimate Opportunity Cost.” In this article, he discusses how upon realizing the true value of bitcoin the asset, every single choice one makes is an opportunity cost involving Bitcoin. Both time and money are what one trades for goods, services and advancement in the world, and every single decision we make must take into account maximizing our bitcoin stack.
In addition to this, we discussed the power of memes and how they, through humor, convey commonly understood ideas of the absurdity of the fiat world we live in. A fiat world deserves to be mocked through memes, and it pushes forward a culture which searches for the truth.
We finished off with what he is looking forward to in the Bitcoin space, including a shoutout for Bitcoin 2022, and his final bullish price prediction.
Check out our written interview below and be sure to listen to our interview above.
What’s your Bitcoin rabbit hole story?
My first time hearing about Bitcoin was in a bar in L.A. in early 2017. I overheard someone talking about Bitcoin mining and showing people the price on his phone. I asked him about it and he was very excited to talk about it. He started to tell me about the halving, hash rate and how Bitcoin was entering a bull market. I had no idea what he was talking about but I was interested. He gave me his number and the next day he sent me a few articles and videos. By the second article, I was completely hooked.
How has Bitcoin changed your life?
Bitcoin has completely changed:
My time preference, the personal time preference change is pretty simple — when you know your purchasing power will increase over time you are forced to think twice about what you buy today.
My concept of opportunity cost, to me Bitcoin is already the ultimate opportunity cost. This means I weigh other financial decisions against the risk of not buying bitcoin. I think traditional finance will be forced into this realization at some point. Right now the opportunity cost or "risk-free rate" of every professional investor and money manager are treasury bonds. It's such a hilarious idea that there is an investment with zero risk, but it's even funnier that the entire financial system uses the worst-performing investment as its benchmark to make decisions. We're living through a great social experiment where you can choose to use bitcoin, the best performing asset ever, as your benchmark instead.
My critical thinking skills, I think to understand Bitcoin deeply people are forced to question a lot of ideas and beliefs that they've held for a long time or that they've been told were right. I think I was lucky to find Bitcoin in my early 20s, when I wasn't too cemented in the ideas I did have. The ability to look at things from first principles and always challenge my conclusions has definitely spilled over to other parts of life.
You’ve written about hyperbitcoinization using memes for the magazine. How do you see memes as a force to further the adoption of Bitcoin?
The memes are hilarious, I just laugh all day scrolling through Twitter. Bitcoin is the native money of the internet and memes are like the native language of the internet. The Bitcoin memes are so natural, I think it's because most of the people I shitpost with feel the same way, like we are just fucking around killing time until hyperbitcoinization. Memes are 100% furthering adoption. A picture says a thousand words and I love the video memes because you can basically say a million words in 60 seconds. It is terrifying and hilarious the things that are meme'd into reality.
What are you most looking forward to in the Bitcoin space?
I'm looking forward to seeing what happens in El Salvador, it's like the testing ground for "fix the money, fix the world." I'm looking forward to Lightning developments — streaming sats for content, messaging, Twitter wallets, video games, etc. I also can't wait for Michael Burry's liquidation tweet.
Price prediction for the end of 2021, and the end of 2030?
End of 2021: $158,000. End of 2030: 1 bitcoin can be traded for about 11 million central bank digital cuck bucks, but businesses stopped accepting the state surveillance in 2028.