This post comes from a question posed to me while applying to Swan Bitcoin. It was - Tell us a bit about your Bitcoin story and why you would like to join the team at Swan Bitcoin.
Bitcoin Story:
My Bitcoin journey started in 2010 when my Uncle introduced me to it at a family gathering. I was immediately captivated by its disruptive potential, but at the time, the complexity of the process held me back from buying it – a sentiment shared by many who discovered Bitcoin in its early days.
Fast forward to the end of 2016, I purchased my first Bitcoin and Ethereum. But it wasn’t until early 2017, during an injury that kept me homebound for three months, that I fully immersed myself in the world of Bitcoin. With time on my hands, I was determined to learn everything about Bitcoin and its far-reaching impact on the world. The more I delved into it, the more obsessed I became.
What fascinated me the most was the concept that part of Bitcoin's value is derived from energy - particularly the concept of Proof of Work (PoW) and the mining process. This aspect of Bitcoin is what truly sparked my obsession from the beginning. So, I built a few ASIC and GPU mining rigs to mine BTC, LTC, and Monero. At the time, watching the price rise was exciting, but it was the technology itself that truly captivated me. One pivotal moment during this time and one that I always refer back to was the Bitcoin Block Size Wars - witnessing how Satoshi crafted Bitcoin into a truly decentralized governed entity was truly remarkable. Another moment was when China banned all mining, and the world saw, in real-time, how quickly the hash power shifted and ramped up in the West, especially to America, quickly breaking all-time highs.
And so, my Bitcoin journey took flight - fueled by curiosity and evolving into an unwavering belief in the technology's boundless possibilities. In hindsight, that injury turned out to be a blessing in disguise, opening the door to high-yield investments, but most importantly, the chance to grasp a cutting-edge technology that could shape our lives in unexpected ways, humbling me with its teachings.
My insatiable curiosity drove me to explore various other technologies, leading me into the world of ‘shitcoins’. This period was a great opportunity to make money through ICOs, privacy coins, IDOs, DeFi, Ethereum alternatives, memes, gaming, NFT trends, and second-layer solutions. It also allowed exploration of new technologies that could potentially improve the Bitcoin ecosystem. One notable example is Bitcoin's interest of implementing validity rollups, a technology already tried and tested on Ethereum and Polygon. Also, Bitcoin successfully enabled SegWit, which was initially implemented on Litecoin first.
As I delved deeper into the world of cryptocurrencies, my belief in Bitcoin grew stronger. Some key moments during this exploration were:
Witnessing Ethereum (ETH) change its consensus mechanism to Proof of Stake (PoS).
Observing centralized exchanges and LUNA experience significant issues due to risky "shitcoin yield products."
My hands-on experience writing Ethereum smart contracts in Solidity further revealed the limitations of Ethereum. Its Turing completeness made it unreliable as a source of truth, making it impossible to ascertain the true state of the network.
Overall, I found that alternative cryptocurrencies lacked the same values that Bitcoin offered. While some may debate Bitcoin's Nakamoto coefficient or other decentralization measures in comparison to other cryptocurrencies, one thing is certain: Bitcoin's value comes from energy, through its robust Proof of Work (PoW) mechanism.
My mantra is "stay curious and stay grounded". In doing so I believe that energy is the first abstraction layer of value, and that Bitcoin sits one abstraction layer on top of energy. Bitcoin, by leveraging computational power (and inherently, energy), creates a sophisticated layer of value built upon this energy foundation. The core mechanics of Bitcoin mining and transaction processing transform energy into a digital value, forming a novel layer of abstraction on top of the base energy layer. An abstraction layer that is much closer to true value than our current fiat value system.
Driven by this understanding and fascinated by the potential it holds, I am committed to enriching the Bitcoin ecosystem and “orange pilling” as many as I can. This, in turn, allows me to align with the primal value of energy, fostering my intellectual curiosity while staying firmly grounded in reality.
Why Swan:
Swan offers several easy ways for people to get "orange-pilled." I want to be part of a firm that is integral in Bitcoin adoption for the world. It would have been really helpful to me to have Swan around in 2010 when I first heard about Bitcoin.
I have been observing Swan's growth since 2019, listened to most of the Swan Signals podcasts, and seen the release of new product developments. One such product is the Nakamoto Portfolio, which helps others realize that Bitcoin can build a healthier portfolio. Another approach I like that Swan takes is how they view Bitcoin as the best form of property. I appreciate how Swan stays true to Bitcoin's values while keeping an open mind to the diversity of thought. After all, one has to be curious to venture down the Bitcoin rabbit hole while staying grounded.
Lastly, Swans are known for forming extremely strong and long-lasting relationships with one another, just as everyone who learns and acquires some Bitcoin forms a bond with it and its underlying values. Moreover, a swan represents transformation, and I truly hope to contribute to transforming the world for the better through Bitcoin by encouraging its widespread adoption. Since my introduction to Bitcoin, I have gained a much better grasp on the world and its workings. As a Swan myself in this context, I aspire to be part of a company with a mission to help others also become Swans.
Love,
CookieMonster