How to be a Good Bitcoiner ðŸ˜†ðŸ‘Œ

Being a BTC head is not just about stacking sats, there is a whole philosophy that comes with it…

The fundamental belief surrounding BTC is better money. Money that has limited supply, money that you have self custody of, money that you can pass to others without needing the banks to mediate your transaction. And you should make the best of what BTC has to offer.

Self Custody

Are you holding your BTC on an exchange? Buy a hardware wallet. A hardware wallet allows you to be a direct custodian of BTC. On an exchange the BTC is not really yours. If the exchange goes bust so goes your stack. You want to be in control of your money; and use your own devices to transfer your BTC. This way the currency is in control of an individual and not an institution. BTC is about defeating the institutional control of money.

HODLing or Spending

Many people treat BTC as an investment. They see how BTC is growing in price against fiat currencies and treat it like a storage of wealth akin to gold or stocks. But BTC is primarily a currency, currency is a medium of exchange and money is here to be spent.

Now, stacking sats is nothing bad. You should have what is called a core stack, that is BTC that you will never sell and watch it grow in price. But at times you will see a vendor online that accepts BTC as payment. He is a fellow Bitcoiner and you should always respect his choice of payment, and pay him from your stack if you feel that your core stack isn’t threatened. I am mostly HODLing but I do buy stuff with BTC.

Just yesterday I bought a mini computer with Bitcoin. I saw the price in fiat and was dissuaded from buying it but then I saw the option of buying it with BTC and I reached into my stack and made the purchase. Something I had to unlearn was checking the fiat price of BTC. It is not about how much BYC costs in fiat but rather how many sats you have on your account. I am always overjoyed when BTC falls. I am always buying the dip with any money that I have available.

Run Your own Bitcoin Node

I am not a very technical type. But I bought the mini computer with intent to run a Bitcoin node. As far as I understand it, by running a Bitcoin node, you are keeping a piece of BTC infrastructure in your home. If you aren’t doing that you are basically using infrastructure of somebody else. BTC is all about being the master of your own money.

For better explanation of why you should run your own node, see the video below: