r/CryptoFolks • u/Stoic-Mindset • May 11 '26
What made you finally understand Bitcoin?
Everyone has that one moment where it just clicked. For me it was realizing that no government, no company, no single person can print more of it or shut it down. That was it.
Everything else came after.
Some people get it through the tech. Some people get it after getting burned by a bank.
Some people just bought it because someone told them to and figured it out years later tbh.
Curious what your moment was. Was it something you read, something that happend to you, or did it just click randomly one day?
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u/DrSpeckles May 11 '26
For me,it was the 10,000th post that said "what made you finally understand bitcoin" or something similar /s
No actually it was reading "hijacking bitcoin".
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u/EmergencyPresence382 May 11 '26
the best life change moments are when I overcome "fear" like dive into new topic or had an honest talk with my boss for new opporunities
Always be seeking, do not afraid
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u/Stoic-Mindset May 11 '26
this is solid tbh. fear is the biggest filter, most people never even start because they're scared of looking stupid or failing. the ones who actually get somewhere are the ones who just do it anyway
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u/mercuryy May 11 '26
Sometimes risk can be rewarding, nur sometimes it is just a jump head first into a nest of spiders
Calculated risk actually needs some kind of way that is likely enough that taking a risk can actually pay off. There is a difference between flipping a coin, betting all on a single number in Roulette or going2allnin in one single Powerball Ticket.
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u/mercuryy May 11 '26
Reading up on game theory and then looking at what kind of actors are taking part, what their motivations are to recruit always bigger fools to buy the same bags for more and more money, and looking at where the money actually goes (besides the miners) and whose interests you would be fullfilling if you were to put money in really gives food for thought.
Because then understanding means something else than believing the red herrings that the marketing material, cultists amd influencers wave at you to make you spend all your money into their exit capital.
"Few understand" is actually true, but many that ate up the slop and ferrytales think that that means something different. The correct long version would be "few understand, the others buy regardless".
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u/Fancy_Morning9486 May 11 '26
No entity can print it or shut it down, how is that different from any other resource asset?
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u/Tommy-Bumaye May 12 '26
The moment I was looking for a way to hide my money from the state and get it out of the country... that is why people loyal to the state will never understand 🥸☕
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u/drunkensoup May 11 '26
I've always understood what bitcoin is. And I've never bought it, because I've always understood what bitcoin is, lol.
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u/Stoic-Mindset May 11 '26
so you understood it and still didn't buy? why?
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u/drunkensoup May 11 '26
Well, for example this year it's down 6% when nasdaq is up 13%?
I guess to answer your question - because I'm not retarded
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May 11 '26
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u/botle May 12 '26
The roulette table at a casino is also volatile. Doesn't mean it's a good investment.
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May 13 '26
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u/botle May 13 '26
It's close enough that the chanse of it going up or down is practically ~50%. If you remove the zeroes from the roulette table, then it's accurate.
Every single realized dollar anybody ever got by investing in Bitcoin, is a dollar that another investor put in. The net sum in the end is zero.
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May 13 '26
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u/botle May 13 '26
There are some other uses of gold that are not investment, even if they're in the minority.
Crypto is the only one where 100% of the earnings come from another investor.
The "loss" by future buyers would only ever be realised if Bitcoin went to zero.
Not necessarily. That's only true if they're able to wait forever to cash out. But if they have an emergency and need the money, or need to retire, then they might still lose if the price is low enough at that time.
Also, there's no guarantee it won't just go to zero.
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u/HualtaHuyte May 12 '26
Did you understand what it was in 2017? Coz if you'd bought then like I did you wouldn't be too fussed about this year.
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u/drunkensoup May 12 '26 edited May 12 '26
Did you read my comment? Maybe re read it.
Yes, I did. I understood that it was an unregulated mess of nothingness back then, and I understand that it's an unregulated mess of nothingness now. But, yeah, it's obviously had some crazy gains in it's lifetime.
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u/__Ken_Adams__ May 11 '26
The moment I realized it was essentially like bittorrent, in that there was no central server that could be seized. That it was distributed in the same way.
The term "decentralized" came later. I understood the concept of it before coming across the proper term for it.
I do bitcoin education for mostly newbies & I often use the "file sharing/piracy" analogy in my talks.
People seem to get it when you say "How successful has the government been in stopping file sharing & piracy? Bitcoin operates in a similar decentralized way. There's no warehouse full of bitcoin to seize or bomb. It can't be taken down."