Bitcoin is the mother of all rabbit holes.
I got into Bitcoin in 2020 during the COVID hype and got interested in understanding it to decipher if it has any real value at all. I started by understanding the basic concepts and it slowly took me to understanding what money is and then to physics to understand entropy and thermodynamics, then to philosophy relating to money.
At the time of writing this article, I am close to 32 months of education in Bitcoin and I can frankly say I am not even 50% done. Along the way this new knowledge made me believe in it more and more and I bought bitcoin frequently along this journey.
I came across various quotes about bitcoin and I guessed this would help others to quickly get started in Bitcoin and also figure out who are the big bitcoin bulls as well.
So here are the best bitcoin investment quotes.
In this post you will find
Best Bitcoin investment quotes
1. “There is no second best Crypto asset” – Michael Saylor
If there ever was a mother of all quotes then this would probably be it. This is a blockbuster quote to start off this list.
Everyone believes that Bitcoin, Ethereum, and Solana are all running the same race and whoever chooses the right one will end up getting very rich.
The truth could not be far from it. Let me put it this way,
Ethereum, Solana and all the other altcoins (Shit coins) are all running the same race, which is true (race toward the bottom :p). But Bitcoin is running a race in which it is the only participant and the best part of you get rewarded for choosing the winner of this race where there is only one participant.
This is an arbitrage that is literally hidden in plain sight.
Here are more Michael Saylor Bitcoin quotes.
2. “Bitcoin is the only money in history that is optimized for moving value across space and time” – Robert Breedlove
Robert Breedlove is another big Bitcoin bull and his series with Michael Saylor called What is Money is a must-listen for anyone looking to get started with Bitcoin.
Since the very start of civilization people understood that any form of money needs to be hard for humans to produce/make and that would be the best form of money.
This is true because imagine if bread was the form of money. Then no one would go to work, everyone would be busy in their homes baking bread., Why would you do some other work to earn money when you can make your own money?
So it should be hard for humans to produce more of or in other words, difficult to replicate.
Gold was used in the early days because it is not common and was very expensive and hard to mine. This became a sort of a shield in protecting the value of their currency.
The only problem here is, as much as Gold has succeeded in maintaining its value across time (across multiple decades, even centuries) it fails miserably in maintaining value across space. Imagine moving a kilo of gold from the USA to England. You would not be able to get past the airport security checkpoints.
You would have to convert it to the local currency and move it there. In this process, you can only sell your gold at a value lesser than the market price. Then the currency exchange fees are there as well. Then converting the currency back to gold in England would also require you to pay a premium on top of the current price of gold.
In total, it is chaos.
Whereas with Bitcoin I can move all my BTC to any country in the world in a matter of few minutes without any government regulations and also without losing any of its value throughout this entire process.
Here are more Robert Breedlove quotes on bitcoin.
3. “With Bitcoin, no one has a monopoly of information” – Tyler Winklevoss
This is one of the key points that people need to start understanding about Bitcoin. Just because you cannot know what the government is doing with the tax money, they have the incentive to be a bad participant in the market.
This information is obscured behind many walls and is not easily accessible to the average person. These walls are kept in place by the government itself. Because information is valuable and they hold the monopoly over that.
Bitcoin solves this as every transaction is visible and can be viewed by anyone in the world.
This is not to say that everyone will go and keep checking the government’s transactions every day.
It is the power to do so that is important. You need not wield your power but the knowledge that you have that power will keep the government in check. Every decision they make will be visible to everyone, and that knowledge alone will make sure that they do not make any hasty decisions.
Thus, removing the monopoly over information.
Here are more Tyler Winklevoss Bitcoin quotes.
4. “The price of Bitcoins can’t rise too much above the cost of mining” – Hal Finney
This is a simple economic paradox.
A base rule of the human psyche related to economics is that people will produce more of a commodity that has a good profit margin.
This is normal because that big profit margin entices participants to enter the market.
But the paradox here is that more and more participants enter the market, then they start competing on price because they are dealing with a commodity. Then the profit margins dwindle and it discourages new entrants into the market.
Similarly consider the situation with Bitcoin. BTC is a commodity. Anyone can mine bitcoin, there is no restriction. If the price of bitcoin is a lot more than the cost of mining it, then it encourages more people to mine it.
Evidently, as we saw earlier, more people will get into it. The only catch here is Bitcoin is not just any other commodity where you can create a surplus because it is dependent on time and not the amount of effort put in.
For example, if you convert more real estate into farmland you can grow more produce. But if more people start mining Bitcoin then the difficulty to mine each block increases. With more difficulty, the amount of energy required to mine a block will also increase thus raising baseline costs. Those costs will roughly cancel out any gains you get from increased Bitcoin prices.
Thus Bitcoin naturally incentivizes people to search for unusual sources of electricity that are relatively cheap. This in turn makes the unusual or cheap source of energy more valuable and this is something that most people don’t understand and claim that bitcoin is bad for our environment.
Bitcoin literally encourages and incentivizes people to get off the grid and find alternative energy sources.
You might feel like what is the point of mining if the price of Bitcoin is just sufficient to provide the cost for mining? In short, the transaction fees come into play.
Here are some of the top Hal Finney Bitcoin Quotes.