What Is The Key To Bitcoin Adoption? NGU or Education?

As of today, the Bitcoin price is hovering around 29k-30k and has been for the latest couple of weeks. For those who have studied Bitcoin extensively, this is a fantastic time to buy the hardest asset on Earth.

If you look at the supply statistics, you can see that they have. The amount of Bitcoin that long-term holders hold is off the charts. Approximately 75 percent or 14.5999 million Bitcoin are in the hands of diamond-handed hodlers who will not sell their Bitcoin anytime soon.

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Now imagine when the like of Blackrock and all the other big names come piling into Bitcoin when their ETFs are approved. The price of Bitcoin is going to skyrocket to the moon. As Bitcoiners, who wouldn’t be excited about this prospect? We’ve been through a lot over the last 14 years since its inception. The massive price swings, the ratcheting up of regulatory pressure, and the social ostracization of being the lone Bitcoiner in your family or circle of friends.

I think the social part of being considered crazy or “out there” because you don’t believe the official narrative about money, the economy, or how the government operates is the most irritating. So yea, it would be nice to see Bitcoin just freakin rip faces off with insane price action to prove the naysayers wrong, but I don’t think that will help build a solid foundation needed to propel us towards a global Bitcoin standard.

If this is truly the goal, we shouldn’t be cheering on $100,000, $250,000, or even $1 million per Bitcoin because I think this will hurt adoption in the long run.

An AESOP Fable

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Think back to the Aesop fable of the Tortoise and the Hare. At first glance, you think the hare will win the race because rabbits are obviously faster than tortoises.

The hare was so sure he would beat the tortoise that he raced ahead and then took a nap because he was so far ahead. The tortoise didn’t freak out; he kept his head down and did his thing slowly but surely, one step at a time. Next thing you know, the tortoise passes the sleeping hare and beats him to the finish line despite the hare’s best efforts after realizing how behind he is.

The moral of this story is that slow and steady wins the race. Building an entirely new economy built on Bitcoin will take a very, very, very long time. The mission of hyperbitcoinization is going to take generations to achieve. Millennials definitely would live long enough to see hyperbitcoinization become a reality. It is entirely possible that Gen Z won’t see it, either. We must be okay with not seeing the complete fruits of our labor. Think of the builders who built the great cathedrals in Europe or the Great Pyramids of Giza. Do you think any of those people thought they would see the finished project of what they were building? Of course not!

They knew they were building these monuments to last centuries as a testament to their sacrifice for the greater good. This is the type of mindset that we need to cultivate in the Bitcoin community.

Number Go Up Is Bad For Bitcoin Adoption

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If the price of Bitcoin goes to the moon before a solid foundation of knowledge among the people has been built is going derail the mission to replace the USD standard with the Bitcoin Standard.

Imagine the price of Bitcoin going to $100k over the next 12 months. What kind of people is this going to bring into the Bitcoin space? A bunch of people buying Bitcoin on Coinbase or some other exchange looking to get rich quickly and not knowing a damn thing about Bitcoin, its core principles, the mission of hyperbitcoinization, or what a wallet is.

All they will see is a number going up and a price at which they will look to sell. This inevitably leads to a price correction to the downside as the people who don’t understand Bitcoin in the first place rush to sell their stack. Most will sell at a loss and exit Bitcoin, never to repurchase it because they got burned the first time.

The thing is, these are the very people that you want to educate correctly so they don’t end up losing their nerve at the first sign of trouble. The only way to do this correctly is through education, which takes time. Everyone comes to Bitcoin from different life circumstances and different ways of learning. Some people are visual learners, others are audio learners, and others like to read. Having that strong foundation of knowledge is critical to price stability over the long term. Turning everyone into long-term hodlers should be the goal of every Bitcoiner globally.

Don’t succumb to hubris as the hare did and think just because we have Bitcoin; it will automatically win out versus the dollar. Many people in power want to see Bitcoin fail or be relegated to a speculative asset no one thinks about. If we sit back and don’t put in the hard work of educating people about Bitcoin and its benefits to society, we will have failed as a generation to change the world for the better. What kind of world do you want to leave your posterity? A dystopian hellscape or a future where Bitcoin has dramatically altered the course of history towards peace and cooperation? I know what which future I’m fighting for, do you?

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