How were bitcoiners orange pilled before books and podcasts? The white paper, mostly.
I tried reading it in 2011, but found it too technical and boring. Yup.😂
So what worked?
A bitcoin-only auction site called Bitmit. A place where I could sell baklava in 2012 with minimal fees.
I had a website at the time, but I also had listings on eBay & Etsy for extra exposure. The listing + PayPal fees sucked, so I sold at a markup to make up the difference.
BitMit allowed me to sell my baklava at a discount while taking home higher profits. Not bad, but it didn't stop there!
I could then flip the bitcoin on LocalBitcoins at a slight markup, earning profit on my profit!
Profitception! 🤯
I was an idiot in hindsight, of course. Had I known then what I know now I would have HODLed every sat, but that's not the point.
These experiences taught me the true value of Bitcoin, and it had nothing to do with a fiat price.
People were willing to pay over spot for something permissionless, with low fee transactions, that entities like PayPal couldn't stop.
I never could have gleaned this from the white paper.
By mid-2012, I saw that this was something to hold on to. I decided to move off the fiat standard, and on to the Bitcoin standard. That's exactly what I did before the end of the year.
And it truly started 13 years ago today.
Thanks, Bitmit. ✌️
