our playbook
best practices for working with bitcoin as digital gold. focused on the fundamentals: bitcoin as a long term store of value, and the best forms of security available.
Chapter 1. What is Bitcoin?
1. The Origin Story of Bitcoin. Satoshi Nakamoto and The Bitcoin Whitepaper.
2. How Bitcoin Works. An introduction to “public ledger” and “blockchain” technologies.
3. Why was Bitcoin created? Decentralization and Cryptography.
4. Tokenomics. Supply and Demand. Mining. Deflationary Nature.
5. Summary Description.
#Bitcoin is a….
PEER TO PEER,
PROOF OF WORK,
PUBLIC LEDGER
That is also:
BORDERLESS.
TRUSTLESS.
Chapter 2. Philosophy of Adoption
Monetary Theory. Adopt the view that Bitcoin represents the evolution of money, focusing on its scarcity, divisibility, and security.
Fiat vs. Bitcoin. Understand the flaws of fiat systems versus the benefits of Bitcoin as a SECURE STORE OF VALUE.
The Bitcoiner Mindset. Understand that Bitcoin not just as an investment but as a superior form of money due to its scarcity, security, and censorship resistance. This involves shifting from a fiat mindset to recognizing Bitcoin's potential as a store of value. The Bitcoiner Mindset is often a “Mission Mindset”.
Chapter 3. Technical Proficiency and Practical Use
Using a Crypto Exchange. Be cautious about which exchanges you are using, cautionary tales of the past.
Wallet Management. Learn how to securely store Bitcoin, the difference between hot and cold wallets, and the importance of private keys.
Using Bitcoin for Transactions. Use Bitcoin for real-world transactions, whether buying goods, tipping, or sending money internationally to understand its utility. From buying small amounts to using it for transactions or tipping, practical use helps in understanding its utility and real-world application.
Microtransactions. Engage with the Lightning Network or similar scaling solutions for quick, low-fee transactions.
Chapter 4. Investment Strategy
Long-Term Holding (HODL). Hold Bitcoin with a long-term perspective, understanding it as an ASSET (defined legally as PROPERTY) that appreciates over time due to its fixed supply. HODL (Hold On for Dear Life). Holding Bitcoin for the long term (through truly challenging markets) due to its deflationary nature and potential for significant appreciation.
Dollar-Cost Averaging (DCA). Instead of trying to time the market, make Regular Strategic Investments into Bitcoin to smooth out the cost basis.
Chapter 5. Security Mindset
Protecting Your Bitcoin. Understand the importance of security practices, including 2FA, encrypted communications, and avoiding common phishing scams.
Self-Custody. Take custody of your Bitcoin by using hardware wallets, emphasizing the importance of controlling your own keys ("Not your keys, not your coins”).
Chapter 6. An Ongoing Educational Journey
Dive deeper into Bitcoin's history, its technological underpinnings, economic implications, and its role in the future of finance. This includes reading whitepapers, following Bitcoin influencers, and participating in educational content.
Chapter 7. The Bitcoin Community
Embracing Bitcoin's Ideals. This includes understanding and supporting Bitcoin's broader implications for financial freedom, privacy, and economic sovereignty.
Join Communities. Participate in Bitcoin forums, social media groups, attend meetups, or conferences to engage with the community. Engaging with other Bitcoin enthusiasts through forums, meetups, or online communities can provide support, insights, and further education.
Contribute. Share knowledge, help others understand Bitcoin, or contribute to Bitcoin development or related projects.
Educate Others. Spreading the knowledge about Bitcoin, helping others understand its value proposition, which in turn strengthens the network effect.
Advocacy. Spread Awareness. Educate others about Bitcoin, not just for personal gain but to grow the network effect. $SBR USA
Chapter 8. Business Integration
Corporate Adoption. If applicable, integrating Bitcoin into business practices, as MicroStrategy has done by holding Bitcoin as a treasury reserve asset. Understand how businesses can benefit from holding or accepting Bitcoin.
9. Long-Term Vision
The Future of Finance. See Bitcoin as part of a broader shift in financial systems towards decentralization, privacy, and individual financial sovereignty. Discuss Bitcoin in the context of long-term financial planning, suggesting it could be a significant part of one's portfolio or even the foundation of a new economic system.