We Study Billionaires - The Investor’s Podcast Network BTC039: The Bitcoin Adoption Curve w/ Croesus (Bitcoin Podcast)
Aug 18, 2021
The discussion dives into why traditional financiers often misunderstand Bitcoin, exposing barriers and misconceptions. Topics like unit bias and the two models for valuing Bitcoin shed light on its potential. The hosts explore how Bitcoin’s value is influenced by social media and the speculative attacks on fiat currencies. Future halving events and the stock-to-flow model are also examined, showcasing Bitcoin’s unique status as a value protocol that contrasts with traditional assets. Scarcity's role in historical evolution highlights Bitcoin's significant economic ramifications.
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Trust and Bitcoin Dismissal
- Traditional finance professionals often dismiss Bitcoin due to their inherent trust in the established system.
- This high trust contrasts with Bitcoiners, who are often distrustful of the system, creating a divide in understanding.
Sailboat Captain vs. MBA Friends
- Croesus recounts how a friend, a sailboat captain, readily bought Bitcoin after a brief explanation.
- This contrasted with his MBA friends' resistance, highlighting how prior financial worldviews hinder Bitcoin adoption.
Early Stages of Adoption
- Bitcoin's adoption is still in its early stages, comparable to the innovator phase of tech adoption curves.
- Croesus estimates only 0.5% of the potential market has adopted Bitcoin meaningfully.