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65 sats \ 1 reply \ @Athena_Alpha 29 Oct 2023 \ on: What makes you the most bullish about Bitcoin? bitcoin
There are dozens of reasons, but the most important one that most people ignore is the network effect.
Like thinking exponentially, people naturally don't normally comprehend just how incredibly important it is. It's why no one uses anything but the telephone network or the Internet network or the electricity network. It's why Facebook is worth billions or why it's so hard (near impossible) to drag people away from WhatsApp despite all their issues.
No one tries to "start a new electricity network" because it'd be just demented and fail. But people gloss over the fact that Bitcoin is the clear leader in the monetary network world. It will absolutely outpace the USD network soon and afterwards it'll be just as demented to create a new monetary network when every man, woman and child uses Bitcoins monetary network.
People also don't realise that unlike with other networks, monetary networks only allow you to be in 1 of them. You can be on both Twitter and Facebook. You can't store $100 in USD and Bitcoin simultaneously, you must choose. This just further amplifies the network effect.
It will take decades to fully engulf billions as networks take many years to build, but once they have you, it's near impossible to let go. And unlike WhatsApp or other networks that people actively remove themselves from due to their negative impacts, Bitcoin is near heaven when it comes to money. No carrying coats. Near perfect ownership rights. Pure freedom to transact. Amazing privacy. No debasement ever again. No one is EVER going to want to leave just like no one ever wants to leave the Internet or electricity networks
Many of us at Athena Alpha hail from Telecom Network Engineering. We know networks. We've built them. In 30 years every man, woman and child will have Bitcoin integrated into every facet of their lives just like we have today with electricity. People think they're bullish saying it'll go to $100k. They have no idea how powerful networks are....
Brilliant answer
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