Confessions of a Haunted Bitcoiner
Nobody warns you about the part that actually gets to you. It isn’t the volatility. It’s the loneliness of the volatility. I can stomach watching half the number evaporate — a 50% drawdown isn’t a crash, it’s a sale on the scarcest monetary asset humanity has ever invented. What I can’t stomach is sitting in a Bavarian lakeside town this summer, the water so still it looks photoshopped (no, I’m not German, I just enjoy the cooler weather) — while my brother-in-law explains to me, slowly, like I’m a golden retriever, that bitcoin “isn’t backed by anything.” This, while he carries a currency backed by the feelings of a committee that meets eight times a year and has never once been early.
Because I’ve done the work. Thousands of hours, between podcasts, books, articles etc. And then you’re stuck. You sit across from people you genuinely love, who built businesses or went to top universities, but you still can't hand them the one thing you’re surest of in this life. You watch the words leave your mouth and die in the air. “Inflation is policy.” Nothing. You’ve said something profound to a man squinting at the bill to see if service is included.
So you stop. Not because you stopped believing — because you’ve learned, at real cost, that conviction and evangelism are different muscles, and the second one only ever cost me. The early bitcoiner’s true discipline was never holding through an 80% crash. It’s holding your tongue at brunch while someone calls your life’s thesis a Ponzi between bites of a croissant they bought with money engineered to be worth less by the time they finish it.
And here’s the confession underneath the confession — the haunting part. A small, ugly corner of me wants the price to keep bleeding. Not for me. For the vindication. So they’ll finally see. And I despise that corner, because I already know the ending: the converts arrive years late, exhausted, having “figured it out themselves,” and I’ll have to swallow the most expensive three words in the English language — I told you — smile, and pour the wine. Because being right early and being right late feel exactly the same from the inside. The only difference is who got paid, and whether you stayed someone people still wanted at the table.
That’s the trap nobody mentions. It’s lonely being the only one who sees the iceberg. But you can’t save the ship by screaming “ICEBERG” louder — you just become the iceberg guy, and now you’re not even right anymore, you’re exhausting, and exhausted.
So you make a quieter peace with it. The math doesn’t need their approval. 21 million is 21 million whether anyone claps, whether your brother-in-law ever comes around, whether the number is at 60K or 600K this particular haunted Sunday.
But here’s the part I didn’t expect. You spend years being the only one at every dinner table — and then you find the others. Not at the table. But here on X. It turns out the whole time I was losing the argument at brunch, there was a deck full of people on the other side of this screen squinting at the same iceberg, doing the same math, biting the same tongue at their own family dinners. We’re not an echo chamber — an echo chamber agrees on conclusions. We argue about everything: cycle tops, treasury structures, whether Saylor’s a prophet or a margin call away from his next podcast appearance. What we share isn’t an answer. It’s the humility to question everything we once knew, and the foresight.
I used to think being early meant being alone. It just meant being early to the wrong room. This is the right one.
Now let's ride this bear to zero or a million 😎
#Bitcoin $MSTR $MPJPY $MTPLF
A formal thank you is due:
Luke
Mechanic
Matt
Hodl Cat Man
BIP-110 node runners
Thank You to those opposed to BIP110 (few) who have presented their case in good faith.
To the VERY few podcast hosts who hosted unbiased, outstanding debates.
On the other hand, I have been disgusted with those, on both sides, but primarily the core side who have only spewed hate and personal attacks.
Disgusted with those who have prioritized their bitcoin adjacent investments in companies like Citrea OVER the health of Bitcoin.
Keir Starmer has now blamed JD Vance and Elon Musk for dividing the UK instead of Henry Nowak's murderer, the family who tried to cover it up and the appalling response from the police
The British Prime Minister Keir Starmer is now accusing Elon Musk of trying to "whip up division" after what happened to Henry Nowak.
No.
The only thing whipping up division is the way police treated Henry Nowak.
Woke DEI and discrimination is whipping up division.
The British government is attacking those pointing out the problem rather than the actual problem.
So many people have been woken up by this.
Remember the anger you feel right now and keep it with you.
We're not backing down.
We're taking our country back.
So what happened to Henry, never happens again.
There are few bitcoiners left in the entire bitcoin community which give high signal to noise ratio and one of them is @mattkratter.
Must watch clip about how bitcoin is (actively) being subverted into (inefficient) data storage from best money humanity has ever seen.
BIP110 IS THE LAST CHANCE TO STOP THIS SUBVERSION.
cc @knutsvanholm@BtcInfinityShow
If I saw a malicious soft fork emerge with thousands of nodes being run in a non-astroturfed capacity I'd be championing a URSF movement *immediately*.
I wouldn't be sitting around mocking it and pretending it'd just fail.
The fact that this hasn't happened with BIP-110 is because it's a good idea and the opposition doesn't have any cause to unite people around - all it does it reduce arbitrary data in Bitcoin which simply makes Bitcoin work better as money.
By 1900, the United States had achieved a 90% literacy rate largely by using McGuffey Readers in one-room schoolhouses. But, yeah, NYC’s problem is it’s not spending enough money.
🇨🇦 Cops in Vancouver pulled this guy over and told him he had to come with them because a psychiatrist certified him under the Mental Health Act.
"What is going on? I've never been given a psych eval.
He just looked at me and said you're certified."
Every year, I share this video of French caretakers who take sand from Omaha Beach in Normandy, and scrub them into the letters to give them the gold coloring.
They do this for all 9,386 US soldiers who died.
France also gave us this land as American soil. #MemorialDayWeekend