It all started 4 years back, when I came into the crypto space just for money. But then it turned out to be an amazing, mind blowing journey deep into the rabbit hole. After exploring so much into it, here I am, as “A Toxic Bitcoin Maximalist”.
Andreas Antonopolous explains the Crypto journey in the most Epic way. Here it is:
In the initial days, more than Bitcoin, Ethereum seemed even more interesting. And also so many other coins, which I am not even naming here.
After years and years of spending time on this and thanks to People like Andreas (My crypto guruji), my focus narrowed down to 3 coins, for both their ‘Impact’ factor and ‘Investment’ factor. Apart from these 3, I call every thing else as Shit coin. But when someone asks suggestion, I recommend only Bitcoin as I see the other 2 as super risky experiments.
But last 1-2 weeks is another opening up and now narrowing my list down to ‘Bitcoin’ alone.
Something interesting, but not directly connected to this post
I was watching one of my fav clip from ‘Margin call’ movie one day. It’s a inside story of a Finance company during 2008 Economic crisis. Then youtube suggested me this real story of how ‘Goldman Sachs’ executed a real shitty deal in 2007, cheating their own customers on a billion dollar scale.
And the video series continued into these:
- How Wells Fargo did a million dollar scam in 2012 to 2014 – Link
- How Wells Fargo again did a scam by opening millions of fake accounts just to pump up their share price – Link
- How SEC (the govt body) is not enforcing any jail term for these Executives and fining them is the only punishment. Notable point here is the fine amount will be a small % of profit you made out of these evil acts. – Link
So what happens when a theif steals Rs. 100 from ur pocket and police asks him to pay a fine of Rs. 10 and set him free. What does he do next? He now understands this awesome biz model and He looks for the next big pocket to steal.
This pretty much what’s happening in Wall street. And Bitcoin fixes this.
The final nail in the Coffin – 1
Coming back to my Crypto journey, it is fully filled with learning stories of Corporates and Wall street jumbos like above. And how Bitcoin fixes this.
And there is Andreas on the other side, telling us how Bitcoin is all about bringing in the other 4 billion people in the economic pie, who are orphaned by current financial institutions.
For so many months, when people asks me about the coin tweeted by Elon, I basically say NO. But suddenly 2 weeks back, when I saw about SpaceX and that shit coin, I got tempted. Maybe buy that for a short term, gain some money and sell it off. I cross checked with my friend, Saravanan, a personal Crypto guru and he said ‘Go ahead’.
But then that day night when I actually I sat down to execute the plan. I felt something ugly from deeeeep inside. As If I am going to do some evil act, especially after following Andreas for all these years. In a second decided not to do it. I know I might be forfeiting my potential short term gains. But decided that’s okay.
Called Saravanan to get his perspective. He know my financial position and the huge debt that I accumulated. He said this, “You are in need of money. And this move might bring it to you in short term. But it will be a ‘soul killing move'”. That’s it. Period!
The final nail in the Coffin – 2 – Elon Musk
And then suddenly this guy started calling Bitcoin bad and started promoting the other shitcoin. The extreme extent of his stupidity is this.
Speed up block time 10x, increase block size 10x and drops the fee 100x. And then the shit coin wins!– Elon Musk
Seriously dude?! WTF?! Everyone goes through this learning pace by making mistakes. But Elon doing that and doing that in public. That’s unbelievable. And the crypto community reacted super heavily to teach him the fundamentals. Hope he gets it soon.
Some epic pieces:
The Elon drama made my friend Saravanan to jump into the Toxic Bitcoin Maximalist. And eventually I ended up in the same bucket.
But here is an awesome writeup about why the Toxicity is need the need of the hour. Because the other end of the spectrum is compromise. Especially, compromise of fundamental principles. My own analogy is coming in the next post.
I came here for the Money, but staying back for the Principles. With the title A Toxic Bitcoin Maximalist.
Thanks to Andreas Antonopolous and my friend, Saravanan Mani, for all their guidance in these exciting journey of mine.
Note: For those who dont’ understand why I am endorsing Bitcoin when it just crashed ~50% from $55K to nearly $30K