Are Shitcoins An Essential Step In the Path Towards Bitcoin Maximalism?

Like a cringe emo phase when you were a teenager, the shitcoin phase is always there to embarrass every single maxi, or so it seems.

Erik Dale who just organized an entire lightning conference tweeted that he still feels the shame of shitcoinery.

By ~4k followers I knew too much to keep excusing & legitimizing any shitcoins & shitcoinery.

I made a break with my past, alienating many viewers & members, by publicly embracing #Bitcoin maximalism 100%.

But I can never quite shake the shame.

If I am inexplicably unpleasant to you, dear shitcoin apologist, realize that I may be screaming at my younger self.

It’s not your fault if you lack courage & clarity. Shitcoinery is a mental disease caused by years of fiat conditioning.

The cure is learning to trust truth, a meaningless word in the fiat world, even if you can’t comprehend or control it.

Bitcoin is a truth machine.

Erik Dale  @EuroDale

Here’s another story by @r0b hitting the same beats on stacker news.

Shiny objects & opportunities everywhere, who to believe?
Some early Bitcoiner has a new idea for a coin. He says to put a message on the “Bitcoin talk” forum and he will send some out for free. I got something called Ripple, it seems to work.

Meanwhile some new coins with ”advanced privacy” are being released. One is called “Dash” – it could be a good idea I think, so without much due diligence I buy some. Monero sounds like another good privacy coin, better get some just in case it takes off. Turns out Satoshi created the idea for the first altcoin when he came up with the idea for a DNS coin.

I went to my first Bitcoin conference and it was great to meet some awesome minds in the Bitcoin space. Vitalik Butterin was there with a new idea for a coin. Ethereum sounded interesting, maybe it will take off. I message a guy running a small Bitcoin exchange I signed up for and I am blown away by his personal responses to my emails. I offer to help him out and I join him running the exchange together.


Read the post and the comments of people saying similar things.

My own path is similar. I didn’t have an embarrassing emo teenage phase but I did go through discovering bitcoin, dismissing it, rediscovering it again, studying all the shitcoins, falling down the rabbit hole and then becoming a bitcoin maxi.

It was funny, about 3 years ago in 2020 I decided to learn about personal finance and investing. I like to do the Richard Feynman method of learning in public, which is to study something and then break it down so that you can teach another person. That way you fill up gaps in your knowledge and retain the information a lot better. I also make websites, so I learned in public by posting on my blog

You can see me studying stocks, gold, crypto, learning about leverage trading, trying to figure out all this crazy stuff that people think they need to learn in order to retain their wealth and invest. I was posting about terminology, various concepts. And also bitcoin, which I had known about for years by that point.

And you can see how I slowly started to focus more and more on bitcoin and ditched all the others. I don’t think there was a specific moment of epiphany, but it was quite dramatic over a single year.

So, what is the Life Cycle of a Bitcoiner?

  1. What is Bitcoin?
  2. Bitcoin is too expensive
  3. Crypto is cheap
  4. Crypto is the future
  5. Crypto is a scam
  6. What the fuck is Bitcoin?
  7. What the fuck is money?
  8. Bitcoin is freedom
  9. Bitcoin is going up forever

There are many memes about this journey, which means it is a shared experience that people can relate to. So I wonder, is it an essential part of becoming a bitcoin maximalist?

It truly feels like this. When you understand bitcoin, it all changes.

To study bitcoin is to study

💲 Money
📜 history
📊 economics
🏛️ government
🖥️ software development
⚡ energy
🌐 geopolitics
✊ human rights

There’s always something new to learn

LanaLightning⚡⚡⚡ @LanaDBTC

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George Saoulidis

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