RE: The Phases Of Bitcoin Adoption

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Near Christmas 2012, my sister-in-law stood in our kitchen and told me about this new kind of virtual money people were creating on their computers... and how I ought to get involved with that, since I was "into computers." Looking back, it was pretty surreal as she is pretty much a Luddite.

I did look into it, but it just seemed "too technical" to do this "mining thing" they were talking about, and I would have to buy a screaming hot new computer to be effective at it, anyway. I even looked into buying some, but it seemed too damned difficult to do that... you had to become part of "local Bitcoins" and meet someone in a parking lot with cash... like it were drugs or contraband.

So I ignored it. Until about 2015, when a nerdy "alt" friend stayed with us and he'd been working on the Ethereum project... first time I heard there was something other than Bitcoin.

It this point, we still own about 0.1 BTC from a 2015 purchase... but most of it was spent on living expenses, and we felt like we'd made a GREAT investment to have bought at under $200 and sold at $1,000+ (to about $2,000). Such is life.

At this point, I am really more interested in alternative blockchain projects that are more functional than BTC. I guess I like things that look like "utility" coins. In a sense, Hive is a utility coin...

=^..^=

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Dang you got in hella early I don't blame you for not holding on that was a completely different time. If you localbtC or mt gox days I totally understand why it was sketchy, but also it was only a few bucks to get in so I guess risk reward ratios hey. That's so weird your sister in law knew about it before you, if you the techy of the 2.

What got me buying was a client of mine was actually a crypto exchange and explained to me how BTC works and I thought If im going to work for them I need to buy this thing and learn more about it. Then once I got in and started asking friends some were already mining and buying they just didn't talk about it.

I get that, utility tokens are interesting, but I don't see them as sound money, I see them as replacements/tokenised versions of loyalty points, shares/equity, bonds, and certain value that was lost in web 2 model.

BTC to me is the only one looking at being a savings technology, and for someone like me in South Africa where inflation is literally ripping my pockets like crazy, its more of a hail mary move, just protecting my buying power not trying to moon with a alt although it would be nice

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