That is an opinion editorial by Gabriel Vazquez, a contributor for Bitcoin Journal.
Bitcoin Maximalism is perceived by many as a “poisonous” trait, a model of tradition battle waged by veteran holders, OGs and whales who will do something to pump their luggage. On this transient piece, I clarify how this couldn’t be farther from the reality. I cowl my journey to maximalism and the way Bitcoin has taught me to HODL by means of hardship, readjust my aspirations and reducing my time choice. Lastly, I’ll make the case that Bitcoin is a beacon, not just for the OGs, enterprise capitalists, CEOs and all these different rich acronyms, however for the poor, the drained and the huddled lots.
2017 was a giant yr for Bitcoin. It was additionally a giant yr for Puerto Rico, the place I used to be fortunate sufficient to be born and raised. September introduced two Class 5 hurricanes to the island again to again, a mere two weeks aside from one another. First, Hurricane Irma narrowly missed direct landfall. Regardless of the near-miss, the sheer measurement and depth of the storm nonetheless managed to wreck infrastructure, take lives and depart hundreds of thousands with out energy. Then Maria got here. With a contact of irony, my energy was restored lower than 24 hours earlier than Hurricane Maria made landfall, so I had barely sufficient time to cost my gadgets. Little did I do know, I wouldn’t find a way to take action once more for the following 5 months.
The lights flicked again on in my house mid-February 2018, the celebratory yell from a whole neighborhood echoing within the evening was one thing to behold. By then, bitcoin’s blow-off-top bull run had not too long ago come undone, the mud had barely settled and the value hovered round $10,000. I keep in mind considering, “If I purchase right here and it goes again to the place it was only a month in the past, I can double my cash!” This was how my journey started. Not as a complicated investor trying to diversify, or as a cypherpunk hell-bent on ending the Federal Reserve, however as a humble bartender who had simply misplaced rather a lot and needed to make a few of it again.
For a lot of, shopping for bitcoin is solely an allocation of some disposable revenue, nevertheless it wasn’t for me. I’m proud to say that, regardless of having a excessive time choice and simplistic objective on the time, I by no means bought. It’s a tough subject to jot down about — the dearth of doing one thing — however I really feel it’s a very powerful a part of my story. HODLing is onerous. But by means of holding, I slowly realized about what actually makes it priceless, and the way fascinating Bitcoin is as an invention. I attempted to persuade buddies to purchase it with out success. Across the identical time, I purchased round $100 value of ether and bought it for a 50% loss a couple of months later. Unbeknownst to me, by means of the cleaning of shitcoin capitulation, I had simply grow to be a Bitcoin Maximalist.
Maximalism wasn’t a selection at first; I merely couldn’t afford to gamble and speculate. It was these “poisonous” Bitcoin Maximalists, together with some widespread sense, which saved me away from all of the scams and noise. I held my underwater luggage for the higher a part of a yr. I might dollar-cost common small quantities, my confidence rising together with the dimensions of the purchases. As the value climbed I used to be overcome with the sensation of, “Oh shit, I don’t have sufficient bitcoin!” The next years would proceed to deliver challenges to Puerto Ricans and bitcoin holders alike.
I used to be scrambling for a lifeboat. I give up my vices; I ended smoking and consuming and centered all my efforts on making an attempt to place myself in a greater place for the longer term. Many Puerto Ricans have been compelled to go away after Hurricane Maria, and plenty of tax incentive-seekers have been all too desirous to fill their locations. By means of Bitcoin, I discovered a solution to doubtlessly safe a bit of this land I name house and put together for the unsure occasions that lie forward. I really feel so extremely bullish — with out caring in regards to the value — about how there have to be so many individuals enduring their very own private Hurricane Maria as I kind this. Bitcoin is in a greater place than ever to assist them, it’s simply ready to be recognized. It has by no means been about fiat, however slightly about sovereignty and self-realization by means of willpower and endurance. I HODL as a result of I do know issues are solely going to worsen. Simply as I stockpiled batteries and bottled water earlier than, I can do one thing to arrange for the tough occasions forward by stacking bitcoin.
This can be a visitor submit by Gabriel Vazquez. Opinions expressed are solely their very own and don’t essentially replicate these of BTC Inc. or Bitcoin Journal.