Bitcoin Rewards Patience And Consistency

I’ve been orange pilling several of my friends and family, okay, not many but the ones that are willing to listen to my ramblings and are not sick of my Bitcoin talking points. Those that have become interested in Bitcoin will often ping me a question now and then, and I feel it’s become a great source of understanding how the nocoiner or precoiner mind works. 

I, of course, am way too far gone, and the things I’ve learned and, more importantly, unlearned in the last six years has changed the way I see the world. Since I live in the Bitcoin bubble, I take a lot of things for granted and assume that everyone thinks the way I do, which is not the case. 

Recently I was asked, “What is the fastest way to get to one Bitcoin?” I haven’t given much thought since I couldn’t care less about psychological milestones; I only want more sats. 

Depending on the amount of capital you can deploy, sure you can speed up the process, you could buy more significant amounts at spot. You could use limit orders to pick up price dips, you could mine, you could trade, you could gain interest on your stack, or you could dollar-cost average. Every strategy comes with its trade-offs; 

• Some have a minor downside but are harder to accumulate. 
• Others have more downside risks but could help your stack more sats in a shorter time frame.

Fiat mining is proof of work.

I answered the question as best I could and then gave it a second thought, what is the reason for wanting to “speed up” your sat stacking. I know we all feel like we’re too late, and we don’t have enough Bitcoin. I counteract the feeling by daily stacking what I can afford and focus on increasing my fiat allocation by doing more work or reducing my spending. 

Of course, there is a limit to this, and some months will be better than others, but it’s all I can afford. I don’t mind it, I’ve been doing it for years, and it’s been far more rewarding than any other investment I’ve taken part in, and some I’ve contributed far more capital or been contributing for far longer than I have to Bitcoin. 

In the Bitcoin world, there is no way to get around proof of work, 

• Miners have to do it to acquire freshly minted Bitcoin and their fees. 
• Stackers have to work to deploy fiat to purchase Bitcoin
• Alternatively, you work for someone to pay you in Bitcoin.

The bottom line is, there is no easy way to acquire Bitcoin, and it goes against the world we’ve lived in for decades. Most of us have grown used to modern comforts and instant gratification, so the fact that Bitcoin doesn’t have a cheat code or a growth hack puts many people off the path, and they would rather focus on shitcoining instead.

Bitcoin is about patience and consistency.

The unfortunate truth that no one wants to hear is that there are no shortcuts in Bitcoin, at least for us plebs. Sure, if I’m part of the financial elite, I could purchase amounts at better prices OTC or leverage the best traders or arbitrage opportunities to secure Bitcoin bags at a premium. As fiat loses value to Bitcoin and the market cap grows, the influence of large capital will be reduced, but we’re still far from that.

I don’t discount that there are people with prefered access to products, markets and capital, but for the average Bitcoiner, there’s not much wiggle room.

The fastest way to accumulate is to do it daily, to remain consistent and have a Bitcoin opportunity cost and losses in mind when making purchases or allocating capital away from Bitcoin.

I can see why this can be a tough pill to swallow for the generation of snowflakes who are used to getting what they want or looking for the easy way out. I can see why shitcoins appeal to them so much.

Shitcoins are about impatience and fickleness.

If the Bitcoin way to success doesn’t appeal to you, then there are literally thousands of shitcoins all ready to tell you what you want to hear. They will lie to you and tell you, you’re special, that you’re part of something different, they’ll do anything to get your money, and it is all recycled in a game of musical chairs as nothing is actually created with the capital.

The success of shitcoin investing is about having a short time frame, looking for quick wins, pumps where you can leverage momentum trading and get out with the spread. Shitcoins encourage you to not do any deep research but jump in and out of any project as long as the graph is upwards and to the right.

The secret to shitcoining is to either create one and get in on the ground floor or get in early enough so you can sucker in greater fools and profit off their naivety.

Shitcoining is a zero-sum game that teaches us everyone is expendable, as long as I can profit.

How Bitcoins incentives rewire the human brain.

I read the book outliers by Malcolm Gladwell a good few years ago, and in the book, he looked at the difference between Asian kids and western kids mathematical abilities. It’s always been a bit of a meme or cliche that Asian kids were naturally far superior in math than western counterparts.

Looking into the anomaly, the conclusion he came to in the book was that the cultural view of tackling an issue was the primary factor towards success. 

• In Western cultures, where we focus on instant gratification, if the problem is too hard, it’s because it exceeds your ability.
• In Eastern cultures, if the problem is too hard, it requires more effort and time to commit to solving the problem.

The factor of commitment and patience was the primary driver for their success and not genes or other innate technical abilities. I can’t help but see the same thing play out between people who focus on Bitcoin and those that choose to focus on shitcoins.

• Bitcoiners are committed to working within the refinements of the protocal to come up with solutions that will stand the test of time.
• Shitcoiners are looking for the easiest way to succeed, mostly by changing the rules and making the game easier. 

If you prefer the fiat system, you would naturally side with the shitcoiners who have created micro fiat systems for themselves. If you’re opposed to how fiat works, you will side with Bitcoin.

If you choose shitcoins, you probably won’t see much change in the way you see the world and the things you do. 

If you choose Bitcoin, everything begins to change. You see the inconsistencies in the various systems we’ve accepted for so long. You question everything, you stand your ground, you set boundaries, you’re not afraid of work, you’re hopeful, you’re passionate, and you want to actively drive and inspire change in the world. 

Are you ready to walk the Bitcoin path?

Getting into Bitcoin requires work and always requires work to get the most out of the network and the asset. You need to work to acquire it; you need to work on using it; you need to work on learning about it; you need to work to secure it.

In Bitcoin, there is no wealth without work like we have in the fiat system. If you are going to bring that fiat thinking into Bitcoin, thinking you’re going to sit on wealth and rent seek for the rest of your life, you’re in for a big surprise. 

Those who stay committed to stacking, focus on HODLing and remain prudent, so they have the cash to deploy will continue to get the lions to share of the Bitcoin rewards. Unless you are actively contributing to the system, you will benefit. 

If not, you won’t. 

Bitcoin is a lifelong commitment, not a here today gone tomorrow trade, so ask yourself are ready to get into Bitcoin?