The Great Lesson Bitcoin Teaches You About How to Deal With Innovation.

By ssaurel | In Bitcoin We Trust | 3 Sep 2023

The sooner you embrace innovation, the greater your chances of being one of the biggest beneficiaries afterward.

Novelty is something that humans constantly seek out and something that has enabled humanity to make tremendous progress over the past centuries.

Yet the majority of human beings have the same reaction to novelty: rejection.

This rejection is due to the fear of change that novelty induces. Faced with a major technological disruption, humans may have to change their way of life.

You had become accustomed to a system. You'd mastered the system to your advantage, and then suddenly a new paradigm is proposed that reshuffles the deck.

How will you react?

Will you follow the example of Warren Buffett and Charlie Munger, who reject Bitcoin out of hand, as it challenges all the rules they've learned to master within the current unfair system?


I hope not, of course.

The Bitcoin system began operating on January 3, 2009.

18 months later, to accelerate the adoption of this network, on June 11, 2010, Gavin Andresen opened the first “Bitcoin faucet” which, at its inception, allowed users to receive 5 BTC free of charge.


Do you realize that you were offered 5 BTC simply to try the BTC network?

Initially fuelled by the founder's Bitcoin, the distributor was then fed by a few generous donors and ran for almost a year.

In all, more than 78K BTC passed through the faucet's address!

At the time, not many people were interested. Bitcoin innovation was still totally unknown. Some saw it as something useless. A utopia for a few geeks...

Two years later, another opportunity presented itself to the more curious and open-minded. At the time, Coinbase was offering 0.1 BTC for every person you were able to refer to their site.


For every ten people referred, you could have received the equivalent of $26K in 2023.

You might think that those who benefited from Coinbase's generosity back then are ultra-rich today. In my opinion, most of them aren't, because they spent their Bitcoin, which was then worth just over $1, on the useless things that the mass consumer society we live in is trying to sell you.

It's also funny to note that, at the time, Coinbase sent you an email to confirm your reward of 0.1 BTC with the full email address of the person you referred.


It seems that privacy wasn't a key issue at the time...

These two examples from just over ten years ago are here to remind you of an essential lesson taught by Bitcoin and all the major technological disruptions in history.


-> The Truth About Bitcoin

When you're faced with something new, you need to adopt an open-minded attitude. You need to think beyond the short term, and not hesitate to shake up all your convictions. Even if you think something new will fail, you can never be sure, after all. Try, and take advantage of what's on offer and, above all, be patient.

And so it was that some of those who had benefited from BTC back in the day were in for a pleasant surprise a few years later when the price of Bitcoin peaked at the end of 2017.

Of course, they still had to ensure that they hadn't lost access to their private keys... But that's another subject!

Bitcoin Closes August at -11.29%. Worse Still, Rektember Is Here.

Fear for some, Opportunity for others... It's up to you to choose.


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ssaurel Verified Member

Entrepreneur / Developer / Blogger / Author.

In Bitcoin We Trust
In Bitcoin We Trust

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