Cryptocurrencies

Weekend column: What are the 21 rules of Bitcoin?


The 21 Rules of Bitcoin through the eyes of Michael Saylor. He shared them during his keynote speech at the BTC Prague event last week.

21 rules of bitcoin

  1. Those who understand Bitcoin buy Bitcoin. Those who don’t understand criticize Bitcoin.
  2. Everyone is against Bitcoin before they are for it.
  3. You will never finish learning about Bitcoin. *You know you understand Bitcoin when you know that you will never fully understand Bitcoin.
  4. Bitcoin is powered by chaos.
  5. Bitcoin is the only game in the casino where we can all win.
  6. Bitcoin won’t protect you if you don’t wear the armor.
  7. Bitcoin is the only thing in the universe that you can actually own.
  8. Everyone gets Bitcoin at the price they deserve.
  9. Only buy Bitcoin with money you can NOT afford to lose.
  10. Tickets to escape the matrix are priced in Bitcoin.
  11. Understanding Bitcoin is limited to those who need to know.
  12. All your models will be destroyed.
  13. The cure for economic ill is the orange pill.
  14. Be for Bitcoin, not against fiat.
  15. Bitcoin is for everyone.
  16. Learn to think in Bitcoin.
  17. You don’t change Bitcoin; it changes you.
  18. Laser eyes protect you from endless lies.
  19. Respect Bitcoin, otherwise it will turn you into a clown.
  20. Don’t sell your Bitcoin.
  21. Spread Bitcoin with love.

You can read his entire speech here revisit (definitely recommended).

Personal addition

Getting serious about the study of Bitcoin leads to an optimistic attitude for those who fully appreciate it. I’m looking for a critic who has a deep knowledge of the subject, but haven’t found one yet.

To understand bitcoin you need knowledge of computer networks, cryptography, game theory, statistics, monetary policy, macroeconomics, financial markets, technology adoption and online communities, among other things. In other words: No one fully understands Bitcoin.

In the words of Saylor:
“Bitcoin is perfect money! Everything you used as money in the past is poisonous. Bitcoin is for everyone, even for people you don’t like. So your enemy will also start buying bitcoin. But the more people join the Bitcoin system, the better it is for everyone who uses Bitcoin. It is bigger than all of us, stronger than all of us. It will outlive us all.”

People have been calling Bitcoin a bubble since it hit $30 in 2011. Now 13 years later it is worth $65,000. If you’re still calling it a bubble or a fad, maybe now is the time to ask yourself why you’ve been wrong so far. Everyone gets bitcoin at the price they deserve 😉

“Only invest with money you can afford to lose” is good advice when you go to the casino because you know the odds are against you. But if you say: Only buy Bitcoin with money you can afford to lose, you equate it to gambling with the odds against you. “Betting” on the idea that the demand for hard money increases over time is not gambling in my view (See lines 5 and 9).

Those who have already embraced Bitcoin as their savings technology have seen their purchasing power and control over their time increase. It is the best savings technology humanity has ever seen.

Patience, understanding and conviction are all you need to continue to outperform almost all other investors. Diversification is selling the winners before the losers.

PS This is not investment advice


Bitcoin expert Rick Hutting writes a weekly weekend column on the subject. You can sign up for his free daily online newsletter by clicking here . You can also follow him on Linkedin.

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