Day 13 / Orange pilling the world's masses
Thursday 17 November 2022

I don’t like the word -orange pilling-. I wish teaching bitcoin was as simple as swallowing a pill. You swallow it and boom. You’re a bitcoiner. I consider it a misleading word. Studying and understanding bitcoin is a long, time-consuming process.

Bitcoin is the greatest tool for protecting human rights that has ever been invented in history. That’s what it was even long before the ‘Have Fun Staying Poor’ joke and its price in fact does not even matter to me. It is a consequence of its technology and the social revolution it is bringing. There, when a person understands that bitcoin is also fundamental to their own survival, they understand everything. Until before, they are just trying. That for me is the moment of the -orange pill-.

Which wallet I suggest to download at the beginning? It depends on who the interlocutor is. If it’s someone completely new to the industry, I go with Wallet Of Satoshi. The Lightning transactions there are amazing. True, it’s completely custodial (not your keys not your coin!) but the user experience is incredible. Two buttons. And it’s instant. It works like a charm. If instead I talk to someone who already knows something about technology, I go with Blue Wallet. In this application you have two different wallets: the non-custodial bitcoin wallet (so you have your private keys) and the one to use the Lightning Network.
I think it is very useful to make people understand the difference between layer 1 and layer 2. If you want to pay for a coffee with the Lightning Network, you literally have to move your bitcoins from layer 1 to layer 2. 

However, we have to consider that it’s still very early. As bitcoiners, we would like to see this technology applied to the world as soon as possible. The truth is that history itself teaches us that this will not be possible. Think of credit cards: Frank McNamara invented the -Diners-, the world’s first credit card, in 1949. Credit cards took more than 50/60 just to start being relevant. Bitcoin in addition is a disruptive technology, also from a philosophical point of view. That’s why almost all pre-coiners don’t think they need it and that it won’t solve any problems for them. We have to be patient and give this creature its time. 

Bitcoin will last centuries, maybe millenniums. And you can read this clearly from Satoshi Nakamoto’s writings. Its economic application is only the first: the price of the bitcoin currency is crucial for the security of the network and that is why Satoshi implemented it first. But much, much more is possible. Thanks to bitcoin we could achieve total intermediation.

When will we reach hyperbitcoinisation? I always wonder what is meant by this word. The diffusion of a technology to transmit value instantaneously and without borders? To me that is not hyperbitcoinisation. Bitcoin will allow us to vote in a distributed network, to certify in a distributed network, to run anything on it that needs to be kept safe online. But also new technologies like the metaverse (the real one, not the shitcoins we have today).

Bitcoin will be fundamental to all this and much more. It will change everything. In a few centuries.