Buzzin For Bitcoin

March 29, 2021
Steven McCormack
2 mins
Class of 2020

I've maintained a quiet curiosity with Bitcoin ever since the 2017 bull market. However I did not finally take the plunge until February last year, and gradually accumulated over the rest of 2020. As we enter an interesting 2021, it feels like a good time to assess why I've converted to the cause.

Firstly, I'd like to explain the context of my initial decision. I had been obsessing about The Virus since it appeared in my newsfeed on December 31st, 2019. Every morning I would tune into latest numbers in Asia, watch entire cities lock up, and contrast with the nonchalance of life in London. I was also in the middle of preparations for a migration to Australia, whilst at the same time navigating my conversion to digital commerce.

Capital, Deployed

So yes, fucking plenty going on there. And yet, Bitcoin had strangely burrowed its way into my conscience. I make no claim to be a macro or viral expert here, its just that my curiosity was converting into obsession at the best possible moment. Perhaps it was a meeting of internal minds; strands of thought combined with recent experience. In any case, whilst on a deserted train to Edinburgh, I converted what spare capital I had into this nascent technology.

And let me tell you, there is nothing like having skin in the game. A positive feedback loop would arise. I'd read an article, strengthen my conviction, reassess our migration funds, and always find a little more fiat to ditch. Same with the books. The videos. The cheerleaders on Twitter. It was a classic case of Do Your Own Research. Call Your Own Fucking Shots.

Number Go Up

So what is so alluring about Bitcoin? Well, Number Go Up, obviously. As simple as that sounds, it is a condensed summary of my year-long rabbit hole. Those IQ memes are so painfully correct. But as promised, I shall divulge a little more.

For me, it is a monetary manifestation of low time preference. I have always approached life in this way, whether it was striking out on my own, living with my partner, saving money, moving abroad, you name it. There is much to be said for thinking in decades. It can take the sting out of your daily irritants. And as someone who enjoys pleasant bouts of soul crushing anxiety, that is bloody helpful.

Yet until now I have always felt like I've been swimming against a cultural tide. Pay Day Loans! Buy Now, Pay Later! Live Richly! YOLO! I'd watch friends and family surrender their soul to debt, and with it the ability to control where they live, work and learn. Not for me, thanks.

It settles me then to know that many others have felt the same. It makes me damn grateful that they acted accordingly; they built a value structure suited to our digital age. Now let's think about what this can do to realign our motivations. Let's think about how it promotes sensible finance. Let's celebrate how it separates zombie companies from well capitalised, digital natives. Let's encourage this thinking for our built environment. Build Back Beauty!

Woah, Horsey

Sure, call me naïve. Bitcoin could be captured by the same interests that have made a total mess of society today. Unlikely, perhaps. But a scenario to be aware of. We are humans after all; we love taking something great and ripping it to pieces. There are also other ecosystems, projects and movements within the wider crypto world. I don't claim to have the same enthusiasm or much knowledge of those alternative (or indeed complementary) systems. I'm just glad that there are so many smart people willing to spend their time and energy on building an exciting new future.

I'll just keep on Buzzin for Bitcoin.

Signing out, Steven.

Photo by Executium on Unsplash.


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