Listen To This Episode:
They discussed how Texan HODL discovered Bitcoin via a popular online game called RuneScape. Then they talked about the underlying research and reading which primed Texan HODL for entry into the Bitcoin thoughtspace — research such as the problems with the financial crisis of 2008.
The conversation then switched gears, moving to what Texan HODL finds most amazing about bitcoin; he cites the insane amount of variation in bitcoin’s use cases, applications and what it means to different people.
Finally, Texan HODL revealed what he is most looking forward to in the Bitcoin industry, as well as his price predictions for 2021 and 2030. Be sure to check out the entire video on YouTube, and be on the lookout for the next “Meet The Plebs.”
What’s your Bitcoin rabbit hole story?
The first time I heard about Bitcoin was July 2013. Growing up I was a huge RuneScape fan. One day, I came across a website that allowed you to buy RuneScape gold with something called bitcoin. After begging my grandmother for days, she finally agreed to set up a Bitstamp account for me and we bought 2 bitcoins for roughly $200. I thought I was getting a great deal, buying fake money with another fake money! I then sent the bitcoin to some shady company and received my RuneScape gold. After that, Bitcoin did not come back on my radar until my freshman year of college in September 2017. Throughout high school I had spent a lot of time studying the 2008 financial crisis and had developed a strong distaste toward the Federal Reserve due to their reckless response to the crisis. So, when I read the Bitcoin white paper in September 2017, it clicked for me instantly. A hard money that is controlled by rules, not rulers. It was exactly what I had been looking for. I immediately dove down the rabbit hole by reading all of the literature I could get my hands on and haven’t looked back since.
How has bitcoin changed your life?
Bitcoin has changed my life in two major ways. First, it has lowered my time preference significantly. Before I learned about bitcoin, I was spending all of the money I had as soon as I would get it. This is just one of the problems with inflationary fiat currencies, they incentivize spending, not saving. After learning about bitcoin, I found myself doing the exact opposite. I no longer spend money on pointless materialistic items, go out to eat five times a week, or spend $200 at the bar. It has taught me how to be responsible with my money and save for the future. Secondly, it has given me hope. Going into college in 2017, I was pretty lost. I didn’t know what I wanted to do with my life and the future looked pretty bleak. Now that I have bitcoin, I’m extremely optimistic about the future; I finally found something that has given my life purpose.
What is the most amazing thing about bitcoin to you?
The most amazing thing about bitcoin to me is that bitcoin is different things to different people. You can’t put it in a box. For example, if you are the CFO of a corporation and need to protect your cash position from currency debasement, bitcoin can help you. If you are a citizen in a country that is being ruled by an authoritarian regime, bitcoin can help you escape capital controls. If you want to send $5 to a loved one in a different country, bitcoin can do that instantly and for free. The list goes on and on. This versatility of bitcoin blows my mind more and more every day.
What are you most looking forward to in the Bitcoin space?
I’m excited to see where Jack Mallers takes Strike. The ability to send money around the world instantly and for free is mind-boggling to me. What he is doing down in El Salvador is incredible and I am excited to see what he does next.
Price prediction for the end of 2021 and the end of 2030?
My prediction for the end of 2021 is $100,000. I think an ETF approval by the end of the year is likely and will unlock a lot of capital that is currently sitting on the sidelines. My bearish prediction for 2021 is $58,000 because Deniz and his $58,000 gang are going to be hard to beat. My price prediction for 2030 is ~$1 million. I have no reasoning for this prediction other than “it’s going up forever, Laura.”