Mandrik on Nostr: How were bitcoiners orange pilled before books and podcasts? The white paper, mostly. ...
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.š
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! š¤Æ
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. āļø
Published at
2025-01-08 12:28:52Event JSON
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"content": "How were bitcoiners orange pilled before books and podcasts? The white paper, mostly.\n\nI tried reading it in 2011, but found it too technical and boring. Yup.š\n\nSo what worked?\n\nA bitcoin-only auction site called Bitmit. A place where I could sell baklava in 2012 with minimal fees.\n\nI had a website at the time, but I also had listings on eBay \u0026 Etsy for extra exposure. The listing + PayPal fees sucked, so I sold at a markup to make up the difference.\n\nBitMit allowed me to sell my baklava at a discount while taking home higher profits. Not bad, but it didn't stop there!\n\nI could then flip the bitcoin on LocalBitcoins at a slight markup, earning profit on my profit!\n\nProfitception! š¤Æ\n\nI 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.\n\nThese experiences taught me the true value of Bitcoin, and it had nothing to do with a fiat price.\n\nPeople were willing to pay over spot for something permissionless, with low fee transactions, that entities like PayPal couldn't stop.\n\nI never could have gleaned this from the white paper.\n\nBy 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.\n\nAnd it truly started 13 years ago today.\n\nThanks, Bitmit. āļø\n\nhttps://image.nostr.build/a29c253b98bb418600489a9f8827de7ea7019b374c601b5aad17f2ebb037bb7e.jpg\n\nhttps://image.nostr.build/5d52fe3f7f7cb28db8e56d8325b814eda6984dea61d0bca4aa4ac579edd7bd7d.jpg",
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