Staying humble

Stop measuring it's value in fiat. 👀

Two things were and sometimes are still kinda tough for me to get.

At first, I was very excited about bitcoin's possibilities as a decentralized, immutable, and uncensorable system for data storage. "Your data backed by a billion dollar asset class" was my thinking. I even investigated building programs to automatically chunk data and write it to OP_RETURN.

Over time I decided it was not a good idea, that bitcoin was not designed for this purpose, and that if I wanted a decentralized data storage system I should look to other projects.

Through that I found IPFS which I thought it is cool, though I haven't been following its updates. I do wish for its success, or the success of similar projects.

I was a backend database developer for a lot of years and so when I heard of bitcoin I thought, "There's no possible way to make data immutable" - that kept me from buying it for a very long time. In an alternate reality where I'm more humble I'm writing this reply on a yacht. :)

Just the fact that not everyone is either willing or even capable under normal self-circumstances to accept the orange pill.

The fiat system is a brutal game to exit and see the truth... for it requires a total collapse of view.

I read that one book about bitcoin back in 2016...by a nytimes reporter cant remember his name. but the scarcity component didnt click and also the technicals of how to actually obtain it were too intimidating... so i didnt buy shit then 😔 i actually really enjoyed that book...crazy how close i was but still didnt get it enough. Makes you think about how many 'close calls' everyone has with understanding bitcoin.

Bitcoin is for enemies.

That it is actually scarce. I understood that in a vacuum Bitcoin was hard-capped at 21 million, but I didn't see why an unlimited number of almost perfect substitutes couldn't be generated. That would make the class of Bitcoin-like tokens functionally unlimited.

Technologically, that concern is somewhat valid, but it doesn't really make economic sense. One of the Bitcoin-like tokens will be preferred to all the others, because network effects will make it generally more valuable, and that will drive the value of any similar good to zero.

time preference

You’re not buying Bitcoin, you’re selling fiat

For me it has to be UTXOs I never really dived into it early on, I just saw balances and transactions and thought the way the UI works is how bitcoin works, lol plus I was a shitcoiner so the account model seemed like the default, getting my head around address creation and coin control took some time, I was making a bunch of small transfers and bloating the shit out of my UXTO set

Thankfully i know better now

Still haven't fully comprehended Mempool

Don't think that took long for me or even the longest but want to provide another example that wasn't mentioned yet afaicf:

That Bitcoin was not perfect when it was created and that improvements are required.