Name: WhiteRabbit

Country: US

How long have you been into Bitcoin and what got you interested? 

In 2013 I began looking into different business ideas as I was exiting my company. I started looking for emerging markets / ideas and understood almost nothing about Bitcoin other than NGU technology. Looked into some ideas such as building an escrow like company and gambling before I finally got involved with mining. It’s hard for me to pinpoint the exact moment i got interested in Bitcoin but i do remember doing a lot of reading on the story of DPR (Dread Pirate Roberts) and the Silk Road. 

How did you come up with your alias and why don’t you use your real name?

My name was inspired from The Matrix and the pursuit of knowledge / truth. My identity only represents risk in this space. Initially I joined Twitter only to participate in what i saw as the highest quality conversations surrounding bitcoin. My background outside of bitcoin is completely irrelevant to the space, and I’d prefer people judge me solely on the quality of my contributions, as insignificant as they may be.

Best Bitcoin experience and worst Bitcoin experience?

The immense optimism that Bitcoin has the potential to help fix so many systems that have been corrupted by central banking and politics. Moving society away from a high-velocity trash economy fueled by a thirst for never-ending growth, and back to strong-men who want to build great things for generations to come. 

Worst experience is probably dealing with repetitive cycles of FUD. 

What is the biggest fail you have ever seen in the Bitcoin world?

Biggest fail is reputation suicide. Taking the equity and trust you’ve built amongst peers or an audience, and flushing it down the toilet to promote a shitcoin / product or service that is blatantly bad. People like Pomp are guilty of this by promoting products like Coinmine, which are absolute trash, and also promoting products like BlockFi in ways that aren’t intellectually honest. I don’t like to see normies being taken advantage of to pimp products that are only good for the promoter, or have an asymmetric risk profile that isn’t properly disclosed.  

What do you think about the Bitcoin markets volatility this last year?

Inherent property of a nascent market. Bitcoin has shown a tremendous amount of resilience this year. If you consider the current state of our stonk market, the immense manipulation fueled by the fed, and endless inflation of the USD, you might better appreciate the free-market structure bitcoin represents. There are no backstops, circuit breakers, trading hours, fed intervention, weekends, etc.. People have become accustomed to the behavior of faux-markets.

Volatility can be dealt with simply by using dollar-cost-averaging, and making sure your investment horizon is years, not months. The percentage of profitable days to hold Bitcoin is currently at 93.5%. Currently it’s far harder to lose money with Bitcoin, than it is to make money if you lower your time preference.

What are your thoughts on the recent halving and how will it affect price this next year?

The halving happened without drama, and the miner capitulation was arguably less severe than some had anticipated. Bitcoins difficulty adjustment algorithm once again showed it’s brilliance, as we experienced a few significant adjustment periods without any issue. It seems like we’re witnessing some of the same patterns that we’ve seen in previous halvings, which read as extremely bullish, especially if you’re a fan of the stock-to-flow model. Fundamental indicators seem to signal extremely bullish activity ahead.

What is the biggest threat of COVID and elections in the US to the economy?

Decimating tens of millions of jobs that may never come back. The cantillon effect continuing to create more and more inequality and social disrest and tension amongst the lower socio-economic classes. Seems to be a general trend towards Marxism and anti-intellectualism, which is incredibly toxic to a functional economy.   

What are your thoughts about the US Federal Reserve injecting so much money into the economy because of COVID?

The Emperor has no clothes. Our leaders are as clueless as ever on how to meaningfully fix anything with our economy. No generation is willing to make the necessary sacrifices to rebalance the entitlements and unsustainable policies that have plagued us for nearly half a century. Every day, the fate of our keynesian economy hangs on by a thread.

How do you think this affects Bitcoin?

I’m not sure there could possibly be a better macro environment for bitcoin. The federal reserve balance sheet keeps growing, and politicians are eager to give out as much money as possible, with no disclosure as to how it’s being used. There is no accountability or sustainability. Bitcoin is truly the only sane option to remove state from our money.

Why do you think some people, especially noobs gravitate to shitcoins?

Shitcoin projects love to make wild claims about technological advances and/or capabilities. People think they have the prospect to choose one of the ~6,000 shitcoins that might replicate the same type of gains we saw with Bitcoin, that took it from $0.00 to $20,000. Unit bias also plays a big role. People don’t want to own 0.01 bitcoin they’d rather own 500 XRP or whatever coin they think is going to win them the proverbial lottery.

What do you think most shitcoiners miss about Bitcoin? 

Bitcoin is in a technology race with shitcoins for tx throughput / privacy to onboard 7 billion people tomorrow. Bitcoins core technology attributes have been carefully crafted for decentralization, security and stability. Thinking that a shitcoin will come up with some brilliant technology that will usurp Bitcoin is a fantasy sold by project owners to dump their coins on retailers. 

What do you have to say to shitcoiners who claim Bitcoin will fail?

Debating things with shitcoiners is like discussing politics. 99% of time neither party learns anything, and only gets further entrenched in their positions / ideology. If you think Bitcoin is going to fail, that’s not my problem. The only truth shitcoiners will respect is the economic truth when their projects fail to deliver the claims promised, and returns are not realized.

Who is the biggest Bitcoin sell out that deserves to be put on blast? 

Trace Mayer has to be the most prominent example of how someone can go from hero to zero in a millisecond. I suspect he may be dealing with some mental health issues, but have no grounds to support that. The logic for Trace to go from a maximalist to a shitcoiner is extremely difficult to rationalize, short of a catastrophic financial loss and/or mental health degradation. It’s pretty sad to see someone build up a decade of equity in this space, only to flush it away for a D grade shitcoin scam. 

Any tips for people on Bitcoin twitter?

Don’t let your feelings get in the way of facts. Block / mute those who do not add value to your experience (shitcoiners), but not necessarily those who just disagree with you. You are responsible for curating your own experience, and I strongly advocate for making it as enjoyable as possible in whatever way you personally see fit.

Who are some of the most hardcore Bitcoiners you know and why? 

Plebs generally are some of the best people, due to their unconstrained ability to speak without upsetting industry peers. There are tons of great people out there, and I tend to favor those who aren’t afraid to ruffle some feathers. The best Bitcoiners are unapologetic truth seekers. I don’t want to put any specific personality on a podium, but PsychedelicBart has curated a great list of some personalities you can follow and evaluate for yourself.

What Bitcoin startups or companies are you most excited about? 

I’m very bullish on anything Jack Mallers is involved with. He’s shown wisdom far beyond his years, and his ability to think clearly and critically about the products he’s building. He’s authentic, passionate and mostly importantly he gets shit done. If i were to invest in any personality in this space it would be Jack. He has all the attributes of a superstar. 

Very happy also to see companies like River Financial and Cash App focus efforts on Bitcoin-only products. 

I would love to see more philanthropic efforts in the development community, to make it easier for people to learn and start building. We need as many high-quality developers as we can get.

What are your goto Bitcoin storage options? 

I am a Casa Keymaster customer presently. Can’t say enough positive things about how i’ve been personally treated by the team. Obviously a huge fan of the work by Coinkite with the Coldcard. Also a big supporter of the Caravan multi-sig app from Unchained Capital.  

Any tips you want to give to people new to Bitcoin? 

Dollar-cost average your way in, custody your own keys and lower your time preference. If you don’t have a multi-year investment plan to hold Bitcoin, I wouldn’t advise getting involved. Understand trading Bitcoin is a losers game. Number go up technology is what brought many of us here, but the prospect of being able to unfuck our money and create more sustainable systems for prosperity is what keeps me obsessed. Bitcoin offers me immense hope and optimism that we have the tools now to craft a better tomorrow.

Name some of your favorite information sources and/or podcasts in the space.

Tales from the Crypt, Stephan Livera Podcast and also a big fan of John Vallis Bitcoin Rapid-Fire. Parker Lewis from Unchained Capital has written so many epic pieces. My hopium drug dealer is PlanB. Honestly the space is so full of high quality content now i’m simply constrained by my ability to consume them.

Any last words of wisdom?

Developers/contributors and content producers in the Bitcoin space are my heroes.