Dave86ch

I owned Ethereum, programmed a token in Solidity, and created some NFTs. I still hold VitaDAO and VitaFast (an NFT tied to intellectual property in pharma), but to me, the whole ecosystem feels like virtue signaling, networking, and shitcoinery that always ends up chasing airdrops or unclear interactions between DAOs. I keep holding it because it’s an irrelevant part of my portfolio. I made good profits in the past, and now it’s more of a learning experience than an investment.

The Lightning Network is pure magic—private transactions at the speed of light with near-zero cost. It came before Ethereum's L2s and has nothing to do with it. Bitcoin’s Taproot upgrade unlocked the ability to issue stablecoins on the Bitcoin protocol, which Tether is now leveraging.

Proof of Work

Learning about Bitcoin is an investment in itself. Shitcoins are just noise designed to exploit the plebs and give them some excitement.

History helps a lot in understanding Bitcoin, placing it within the cycles we’ve already experienced as a species. Sometimes, our perspective is too narrow, which prevents us from being prepared when “this time isn’t different”—only the perspective is.

Some pools distribute income to miners regularly based on their hashpower contribution, even when no block is mined. This favors companies with large balance sheets that can withstand the non-deterministic reward distribution, which ultimately leads to centralization. Hashcash-based eCash seems capable of creating a market that addresses this problem. Check out the Optech podcast I shared for more details.

An interesting development is USDt on Lightning through Taproot. Lightning is far more scalable than anything else.

It is a tool that is being adopted for its features and, above all, a protocol where building without permission is possible. For instance, I recently listened to an episode of Optech where they discussed the opportunity to create a Hashcash market around e-cash—a way to trade hash power and improve mining decentralization. https://fountain.fm/episode/Q4LMuuCZGvHfOLnkHJ8H It is a technological marvel involving many smart developers. Unfortunately, many will only realize this because the price goes up, just as it does for many tech companies that sell their technologies. In the meantime, many others will continue experiencing cognitive dissonance until they finally capitulate, realizing that they chose to keep fighting instead of seeking to understand. If anyone's interested, I'm building a learning version of the Bitcoin protocol in Rust, following a Braiins guide. You understand what you can build. https://github.com/Dave86ch/bitcoinrs/tree/main

Added to Bitcoin

Are you talking about Buffett followers? The ones who believe that nothing exists outside Buffett’s circle of competence? Myths and cults are part of human nature. People gather at Berkshire meetings and Bitcoin conferences just as they once gathered for pagan rituals, Christian churches, or political rallies. Cults are powerful—they bootstrap knowledge, tools, and workforces. They architect behavioral protocols—also known as laws. Bitcoin is a behavioral protocol as well—a set of rules governing interactions between digital entities in an increasingly digital world. It's no surprise that it looks like a cult among humans. I invested in Bitcoin, and I learned almost everything I know about investing thanks to Buffett. I’ve owned both BTC and Berkshire for many years, I shared my investmenrt and investment thesis in my blog over the years. But if you want to win, you must not simply believe; you must understand. You need to be able to withstand both Buffett and Satoshi without becoming emotionally attached to one side or the other. Otherwise, you’re just being manipulated by some divine figure who has likely weaponized tools, ideas, or charisma to elevate themselves as the priest of a belief system. But if you criticize something without investing the time to at least read a few books on the subject, you're probably part of a cult that demonizes anything outside the tribe—anything foreign or strange in the eyes of the so-called superior judge.

I suggest you read some technical books, like those written by Antonopoulos, and you'll realize what an incredible masterpiece Bitcoin is. It takes decades of mathematical progress to reach the level of knowledge required to create such a tool, and the Lightning Network is another technical marvel. Nick Szabo, Bitcoin developer, year 2002, 6 years before genesis block. https://nakamotoinstitute.org/library/shelling-out/ Andreas Antonopoulos https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388 https://www.amazon.com/Mastering-Lightning-Network-Blockchain-Protocol/dp/1492054860 Clearly, Buffett and Munger weren’t interested in understanding Bitcoin. We’ll never know if they were even capable of doing so ahead of time. What they did was criticize something they didn’t want to understand—and that was their mistake. Developing an invention takes a lot of work, discipline, and knowledge of dozens of inventors. Therefore, criticizing a tool like Bitcoin without studying it is simply a deplorable act. I’ll take them—the true Leonardos—over Buffett the investor.

The reasons behind his decision are flawed. If you dismiss something without understanding it, you will capitulate when the majority of market participants reach a sufficient level of understanding. This is the mistake many make—they try to follow the market instead of recognizing the value of the underlying assets before others do. Bitcoin is a tool; you just have to learn how it works.