ThinkInBTC.com Grand Opening!

ThinkInBTC
Aug 31, 2018 · 4 min read

First, let me thank you for taking the time to click the link and, especially, read this.

If you haven’t already done so, you may want to read a little more about us and browse our FAQ to get a better sense of what the purpose of this endeavor is. It’s really simple. The purpose is to promote thinking in Bitcoin when purchasing and using the products that surround your everyday life. Hopefully, you’ll like the not-so-subtle flair and it will promote discussion of Bitcoin as more than a speculative investment.

I’d like to use this post to dive a little deeper into the philosophy underpinning this site. Some will argue that a volatile asset class is not useful as a method of payment. The argument has its merits, but it loses footing when realizing that any action you take in life, whether you define it as a value exchange or not, is an opportunity cost. You read a book, watch a show, go for a walk, play a game, buy something you didn’t really need… all of these could be substituted for something else. Perhaps you realize 5 years down the road you should have swapped an hour of watching TV for an hour of exercising. Or perhaps you realized that investing some of that discretionary money would have yielded returns making your life easier. The classic case for crypto is two pizzas costing 10,000 Bitcoin, or close to $70 million USD at current prices. Why would anyone ever want to spend their precious Bitcoin?

Indeed, many don’t. They’re aware that at some future point an equilibrium of Bitcoin hodlers, merchants, traders, and others, will exist, dampening the effect of volatility. We’re not there yet, so simple supply and demand principles would imply a higher value, with increased adoption of Bitcoin as a protocol for value exchange. Always remember, however, that there may be a future in which Bitcoin equilibrates not at the moon, but on the ground, necessitating a prudent investor to plan accordingly. This touches on the “network effects” commonly referred to in cryptoassets; principally, that the value of a network (e.g., Bitcoin protocol participants) is directly correlated to the number of participants in that network. As an example, the more merchants that demand Bitcoin as payment, over fiat, the more consumers will be required to utilize the protocol and Bitcoin to transact, increasing demand, and, likely, price.

Why care about Bitcoin as a monetary standard? I would point you toward Saifedean Ammous’ “The Bitcoin Standard” for a nice historical account of monetary standards throughout history. In short, with Bitcoin you have a programmed inflation rate that is not at the whim of any centralized party. In order to change the protocol (e.g., the economics of the protocol), participants in the network must adopt the change collectively to establish a new dominant network; those in the minority are essentially free to branch off, but without new entrants will likely face a withering base of participants, shrinking the network value. Case in point are the numerous Bitcoin forks. Is this better than a centralized (e.g., government fiat) control of monetary supply? Time will tell.

OK, enough philosophizing. The point here is if you spend 200,000 Satoshis on an item at ThinkInBTC, it will always be “worth” 200,000 Satoshis. Whether that equates to $10 or $40 USD at any given point in time is another story. However, knowing there is an opportunity cost to everything, it really makes no difference. We provide usable goods that help spread the idea of thinking in Bitcoin in an attempt get away from the euphoria and despair of the Bitcoin fiat price.

If we could change ourselves, the tendencies in the world would also change. As a man changes his own nature, so does the attitude of the world change towards him. … We need not wait to see what others do.

Mahatma Gandhi

To echo Mahatma Gandhi, “You must be the change you wish to see in the world.” Actually, after a little research, the quote closest to the purest, original, idea is “If we could change ourselves, the tendencies in the world would also change. As a man changes his own nature, so does the attitude of the world change towards him. … We need not wait to see what others do.” While I don’t wish to depreciate the gravity of this quote from Mahatma Gandhi, you can see the applicability of such sage advice here. If you want to see a monetary standard free from centralized control, you should engage in actions that free yourself from that control… transact in it… build applications for it… discuss it with your friends and family… in short, live it.


So, you made it to the end of this — I appreciate it! Now if you’re still interested in checking out what we have to offer, check us out at thinkinbtc.com!

You can find more information regarding usage and plans for ThinkInBTC located at our FAQ page. Be sure to follow us on Twitter, Instagram, and Medium for announcements regarding new products, styles, and promotions!

Please note that the perspectives and opinions in this article is not financial advice and you should seek professional counsel when considering any investment.

-Joe, ThinkInBTC founder

Spreading recognition of the Satoshi through not-so-subtle everyday goods.

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