Bitcoin is at the latest, cutting-edge of technology, the bleeding-edge. Things are a little bit dangerous, a little rough around the ‘edges’. The ‘edges’ haven’t been polished yet. That is because the latest technology never works the way it is supposed to. It’s too new. When everything gets refined, when it’s made to work just right, after thousands of trials and tests, and millions of customers, and tons of revisions, it’s not considered the latest technology anymore. It just becomes our stuff. We don’t give it a second thought.
The Bitcoin visionaries, the early adopters, were willing to put up with a certain amount of chaos and things not working just right. They were speculators and prospectors, as well as technologists. It’s okay that the bitcoin exchanges didn’t work that well. The Bitcoiners were willing to put up with a little nonsense. They were a tough bunch.
Anecdotal evidence suggests that the newest wave of bitcoin investors, the group buying Bitcoin now, isn’t as thick-skinned as the Bitcoin oldtimers. An ‘oldtimer’ is someone who has been in bitcoin six months or longer. If you see someone wearing a sweatshirt that reads “I bought Bitcoin at $50.” extend them the proper respect. They are a tough, old breed.
Trial by fire. This old breed’s mantra: “Trust no one. Never sell. HODL forever.”
*HODL is a misspelling of HOLD in a tweet that just stuck.