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My path over the last decade has been working working as a designer on credit unions -> banks -> enterprise crypto -> crypto -> bitcoin and crypto -> bitcoin

The nice thing about bitcoin is as soon as you get into the general ecosystem, if you are a thoughtful , reasonable person you’ll eventually arrive at bitcoin.

The few things I think are vital to ensure this are:

1. Encourage people to study how money works

2. Share the benefits of long time preference

3. Teach about the history of money and monetary policy

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Discussion

Börje 2y ago

I think there are a few legitimate reasons to why a lot of people end up in ”crypto”.

First, they look at Bitcoin primarily as a speculative investment asset (rather than a new monetary system - an electronic peer-to-peer cash system as it is intended to be), thus applying the traditional investing wisdom number 1:

”diversify your portfolio”

So they end up diversifying, and building up a portfolio of differenent cryptocurrencies - all in order to engage in what they perceive as proper risk management.

Secondly, a lot of people just assume that the future digital economy will mimic the traditional economy - they assume it will be a world full of different currencies for different countries and for different use cases. And that bitcoin will just be part of the puzzle.

Jed ₿ridges 2y ago

I understand the reasoning but it’s still bad reasoning because over 90% of non bitcoin tokens go to zero and you need something that can hold value over time

Börje 2y ago

Perhaps it would better be called ”seemingly legitimate reasoning”