Bitcoin With Jake 006: Nobody is late; Bitcoin Energy Usage; Forget Your Fears; & more.
Is it possible to understand just how early we are? Why is it important to dig deeper into Bitcoins energy consumption? Why the hell would you start a Youtube channel about Bitcoin?
Nobody Is late
Is it possible to understand just how early we are?
During the last week, as is often the case, Bitcoin as a legitimate investment cropped up in conversation. Sadly it was met with an all too common retort: “I wouldn’t buy Bitcoin now, I missed it”. How wrong this fallacy is…
In order to set the record straight, it was with great pleasure that I came across yet another fantastic article by Croesus, “Am I Too Late For Bitcoin?” (Which he discusses with Preston Pysh here) On examining analysis such as this, one can’t help but feel humbled, recognising the extraordinary opportunity in front of us.
I particularly liked the user breakdown into stage of adoption, identifying ‘casual dabblers’, through to ‘Bitcoin maximalists’; highlighting nicely how little meaningful adoption has taken place. Considering this is a technology with the largest TAM (total addressable market) I’ve ever seen, it stands to reason, that at sub 1% adoption we’re in for an extraordinary ride yet…
Bitcoin Energy Usage
Why is it important to dig deeper into Bitcoins energy consumption?
Admittedly it took me quiet some time to get through, but Lyn Alden deserves as many plaudits as possible, for her report “Bitcoin’s Energy Usage Isn’t a Problem. Here’s Why.” It’s an extremely detailed, well balanced, and approachable article; providing you have an hour to yourself.
I particularly like the idea of Bitcoin as an flexible energy consumer, capable of increasing or decreasing demand dynamically, enabling a whole new paradigm in the energy infrastructure ecosystem. Quite what innovation this characteristic inspires will remain to be seen, but it’s without doubt exciting, and a critical feature in its future value proposition.
Radical I know, but I am of the opinion that Hyperbitcoinisation is the best sustainability solution we have available today, and thanks to research like this I am hopeful of more productive discussion. To quote Lyn: “At the end of the day, I consider Bitcoin to be one of the most ESG assets around, just not in the corporate sanitized conception that the term ESG is often used in.”
Forget Your Fears
Why the hell would you start a Youtube channel about Bitcoin?
I love the quip by Reid Hoffman: “If you are not embarrassed by the first version of your product, you’ve launched too late.” With that in mind, and a healthy sense of trepidation, I am proud to announce that we’ve started a Youtube channel this week: “We’re So Bloody Early”.
Together with my two friends Jigs and Matty, united in our shared passion, we’ve collaborated to create some Bitcoin content. It’s our hope that we can help educate people about the opportunity we see, continue to learn ourselves, and build out some new friendships.
Amazingly we’ve had over 100 views already on Episode 1, some great initial feedback, and confirmation of some really exciting thought leaders in the space as guests. I am telling myself: “Forget your fears Jake… You never know where it might take you…'“
Read: “Speculative Attack” by Pierre Rochard