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I was wrong when I dismissed Bitcoin as a Ponzi scheme in Dec 2017 and gloated with I told you so vibes when I crashed. It went back up eventually.

I was wrong when I dismissed the feasibility of a decentralized currency; thinking it can be crushed overnight by a government decision. China banned it and it chugged along fine.

I was wrong when I thought that some mild inflation is good for the economy. I read the Bitcoin standard in a weekend and was completely blown away how I was waist deep in fiat propaganda.

I was wrong when I learned more, and thought that it’s entirely captured by centralized exchanges who hypothecated the limited supply and turned into another gambling product. All those companies went bankrupt and Bitcoin is fine.

Three weeks ago, I reassessed my position that Bitcoin can’t survive without stablecoins and shady international exchanges. I use robosats exclusively now, and it’s really great.

Last night; I also discovered that I was wrong on my assessment that lighting will end up centralized with a couple of big companies doing 90% of the routing because it’s too hard to run a lighting node. It’s really not - and easier than running a Bitcoin node before Umbrel came along.

I look forward to being proven wrong again on Bitcoin. I do think part of the adoption challenges is that Bitcoin requires deep humility, which is somewhat lacking in our modern society.

Have my 21 sats for being sincere. 👍

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0 sats \ 29 replies \ @AJ1992 4 Feb 2023 -1 sats

Woah, Darth is actually giving something away?

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Robosats is awesome, and completely self-hostable

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Great job. If you manage to find the bottom of the rabbit hole... come back and let us know what it looks like.

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There is a bottom to the rabbit hole ? Damn, 6 years digging and i feel I still have ton loads of stuff to discover/understand/handle.

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LOL ... The moment I thought I was crawling back up of the Bitcoin Rabbit hole ... I was always dragged deeper into new things I didnt know about.

I remember the 1st time Ive heard about Difficulty Adjustment ...I felt I learned one thing but there were 4 things that I was clueless about :)

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I think it's more like an event horizon than a rabbit hole

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дно есть. называется стабильность на уровне математике. 10 минут блок, 21 000 000 монет. халвинг. остальное люди сами придумывают... но есть что то интересное... это держать монеты в голове. достаточно иметь 100 сатоши для этого. ты поймёшь что биткоин открывает невероятный потенциал для развития жизни. это превосходно.

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Being a bitcoiner is humbling and that's a feature.

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0 sats \ 11 replies \ @AJ1992 5 Feb 2023 -1 sats

Really? All the Bitcoin Maxi's I know are arrogant as Yankee fans.

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it shows humility to share this, much appreciated.

I was wrong too (same points you mentioned) ... Bitcoin taught me not to be married to my own ideas!

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Well said

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And there's much more to learn.

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In 20017, I equally dismissed bitcoin as one of those latest ponzi schemes in town. Then financial depression hit on me so hard that I suddenly went in search of financial freedom. I stumbled across the following books, which changed my life for good, forever:
✓The Little Bitcoin Book
✓Thank God for Bitcoin
✓Mastering Bitcoin
✓The Bitcoin Standard
✓Programming Bitcoin by Jimmy Song

Ever since, I've listened to several podcasts on Bitcoin.

I am still in the "school" of bitcoin. No graduation date. I'm grateful for that.

I am now a bitcoin maximalist!

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It is ok Peter, we forgive you.

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