(Outdated )Memes Part 1: What is Bitcoin?
There is a saying that Bitcoin is everything people don't understand about money, combined with everything people don't understand about technology. That means there's a lot to learn!
To make it as easy as possible, we've tried to replace traditional educational materials with memes, and (hopefully) meme our way to Texas Bitcoin adoption.
At the end of the day, there is no correct path to learn about Bitcoin... everyone has to find their own way and do their own research. These memes are only guide posts - don't just blindly trust us! You'll need to verify everything yourself and look deeper into any topic that captures your interest.
So without further ado, we present to you the Let's Orangepill Texas Rabbit-hole!
(It takes about 15 minutes, we promise it will be worth your time!)
Morpheus: “You take the blue pill, the story ends, you wake up in your bed and believe whatever you want to believe. You take the [Orange] pill, you stay in wonderland, and I show you how deep the rabbit hole goes.”
There can never be any more Bitcoin than 21 million, so as time goes on and coins are hoarded/misplaced, it means the available supply of Bitcoin shrinks. As the available supply for sale shrinks over time, Bitcoin becomes more rare, which makes the price goes up. Bitcoiners like to joke this is built-in "Number Go Up" Technology.
Don't worry, most people still don't know anything about Bitcoin!
If finding out the dollar isn't backed by gold is news to you, sorry you're hearing it now for the first time! In 1971, President Nixon declared that dollars could no longer be redeemed for gold, implicitly defaulting on our debt. By severing the ability to redeem dollars for our nation's gold, the US essentially declared bankruptcy on all of our foreign debts. The dollar has not been backed by gold ever since.
We've been conditioned to think inflation is an inherent part of the system - leading us to work harder and harder to combat our money losing purchasing power every year.
It was supposed to be a game, not how the global financial system works!
The entire fiat system is based on debt, all fiat currencies are "IOU's" created from the Central Banks of each country. The "IOU's" are promises intended to be redeemed in the future, created out of thin air and not tied to anything ever since the gold standard was abandoned.
Essentially the National Debt is the amount of "IOU's" in existence!
In contrast with Bitcoin, the vast majority of Dollar users have no idea how money works.
A growing number of Millennials and a good chunk of Gen Z are completely out on Fiat.
Some Baby Boomers catch on to the benefits of Bitcoin very quickly! Others are a little more resistant.
Bitcoiners have abruptly showed up on the hard asset scene! Bitcoin has quite quickly begun to cannibalize the Gold market as a form of "Digital Gold".
Regardless of your opinion, the kids are doing it... and you can't stop them!
Bitcoin IS the profit. It's quite a mental flip, but Bitcoin IS the money you "cash out" into.
The world will inevitably be based on a Bitcoin Standard - are you ready?
The way Cell phones were a new technology that absorbed many other devices, Bitcoin is a money technology that will absorb investment dollars from many alternative asset classes. Bitcoin's absolute scarcity makes it the hardest of hard assets, and thus a superior long-term investment.
Everyone wants Bitcoin when it's at all time highs, no one wants it in the bear market. Smart investors go against the grain!
It's easy to get caught up in the hype and encourage friends and family to invest at the top of the bull/bear cycle. Yikes!
The bear markets are where true Bitcoiners are made. Bitcoin "Hodlers" (a misspelling of holders) laugh off the volatility.
It may sound easy, but holding through the bear markets takes real cajoñes.
What it's like to Hodl Bitcoin:
Most people don't have what it takes to hold through the bear market!
Bitcoin is full of short-term surprises - just when you're certain it will go up, it falls off a cliff! Despite the short-term swings, the only real certainty is that long-term Bitcoin will become more valuable year-over-year as global adoption increases and the active supply in circulation shrinks.
The random price swings of Bitcoin are why Dollar Cost Averaging is the best strategy to buy Bitcoin.
It's only a loss if you sell.... you just have to have the stamina to hold through the bear market!
Don't have weak hands - hold on to your Bitcoin tight!
Selling is for novices.
You can sell your Bitcoin at any time! Nothing is preventing you from selling it, just the knowledge that it will be worth more in the future.
You just don't want to frivolously spend your Bitcoin when you don't have to.
Bitcoiners are labeled "Toxic" for insisting Bitcoin is the future despite waves and waves of opposition. Several cycles in, Bitcoiners can be quite aggressive to new comers who haven't done any research.
This level of steadfast insistence on the truth is not for the weak.
Bitcoiners may seem crazy now... just wait!
Some Bitcoiners can be quite harsh and elitist, as they spent countless hours researching Bitcoin before forming their opinions.
Bitcoiners tend to strongly voice their opinions without fear of economic consequences since their money and bank accounts can not be "cancelled".
Bitcoin carries on the values of the Founding Fathers - it encodes the Spirit of Freedom and Liberty!
Time has proven Bitcoiners correct, so there's a lot of toxic "told you so!" gloating that can be off-putting to thin-skinned new folks. The total Freedom of Speech is a change of pace for most people!
Bitcoiners are also the only ones calling out how all other cryptocurrencies are scams.
You can tell people Buy Bitcoin until you're blue in the face, and yet they will still invest in scams like Ethereum, Dogecoin, and NFTs.
There are many, many scam coins and fake investments promising to be the money of the future.
Most cryptocurrency newcomers have an altcoin phase, some longer than others. Eventually they come to realize that there is Bitcoin, and then there are Sh*tcoins.
If someone uses the term "crypto", it's a dead giveaway that they are at best ignorant, or at worst intentionally deceptive and manipulative. All "Cryptos" are fake, everyone who spends time in the space long enough will inevitably conclude that everything but Bitcoin is an unsustainable Ponzi scheme.
Bitcoin actually stores value into the future, whereas Crypto is full of unsustainable imitations and scams. If your coin has a CEO, it's not the money of the future!
Alt coin investors may do well in the short run, but ultimately go belly up!
The Pareto principle (the 80/20 rule) applies to Bitcoin. The same way that Google won the search engine race and captures 80% of global search traffic, Bitcoin has already won the battle for network effects and captures 80% of crypto investment dollars.
However, there can be only one winner with money. The item in society that can be traded for all other items becomes a money, by default. The most Tradeable item wins the crown, just like how cigarettes do in prison.
Bitcoin is the most liquid asset on earth, meaning it's the most easily convertible and tradeable asset in town. (try liquidating your house, your gold, your art, or your antique collection within 10 minutes!) It is also the one cryptocurrency that can be traded for all others cryptocurrencies; or converted back to US dollars instantly.