Dear Bitcoin-Haters and Crypto-Baiters

I'm here today representing the views of Bitcoin enthusiasts the world over. We're a little ticked at the ire that you continue to throw our way and I'm here to appeal for a little clemency.

I should emphasize that I'm not here in an official capacity, nor do I have the endorsement of the Bitcoin community. Nobody does, not even Elon Musk (in spite of what he might think). I'm just a small-time Bitcoin investor who was late to the crypto-party and who has a little knowledge and experience - a passionate amateur if you want to put a label on me.

I'm here today to plead for a little calm and to present the case for dropping the hate just a notch or two. We Bitcoiners aren't that bad nor quite so self-absorbed and prickly as we can appear.

In many ways we're just like you ;  hear me out.

We're not (just) driven by getting rich

It ain't all about the money (money, money) but we Bitcoiners don't help ourselves out on that front. When haters criticize Bitcoin, a typical (and unhelpful) response from your average Bitcoin-Bro is to retort:

"Have fun staying poor."

This implies a belief that they'll get rich through Bitcoin, merely through having had the foresight and wisdom to get involved. Meanwhile your fears and doubts will keep you poor, complaining and hating from the sidelines and secretly wishing you were as bold and as prescient as us.

How obnoxious?

While it appears a gesture of faux-machismo and chest-thumping it's actually a knee-jerk reaction borne out of fear, insecurity and defensiveness.

We all fear the unknown. Many Bitcoiners go to lengths to research how it works and to understand both sides of the common objections. Even the most well-informed can't shake the fear that one day the whole house of cards might come crashing down through some unforeseen event or hack that we've all convinced ourselves is impossible.

The fear is real. The danger is ever-present. 10% daily drops in price give you a thousand-yard stare. It makes us prickly.

Cut us a break, eh? We're only human.

We live in hope

While many have got rich through Bitcoin we're not all fixated on doing the same, nor do we think it's likely. We don't realistically dream of owning a Lambo, jetting around in a Gulfstream or splashing around in our rooftop infinity pool. Most would just be contented for their investment to make a decent return over a few years of HODLing - maybe not rich as such, just slightly richer than had we not got involved. Who invests in anything without hoping to come out a little better off?

Rich would be amazing. Life-changing returns would be awesome. A little better than leaving it in a shoebox under the bed for 5 years? Good enough.

Speaking of HODLing, I accept that talking in such terms doesn't win Bitcoiners any favours either. Much like the sci-fi fan who talks Klingon with his friends, Bitcoiners who resort to acronyms like HODL and FUD and who repeatedly post the same in-jokes and memes are equally annoying.

It reinforces for you haters that this is some sort of secret and closed society of self-important nerds and enthusiasts. And that's only partly-true.

We're not oblivious to Bitcoin's issues

Haters like to wheel out the same arguments and concerns to reinforce that Bitcoin is bad. Bitcoiners play back the same tired responses, pointing to the same statistics and picking at the same flaws in the arguments.

• **Bitcoin is hungry for energy **- Yeah but so are the banking system and gold mining, and at least Bitcoin miners are motivated to use green and renewable energy, so...
• Hackers demand ransoms in Bitcoin, therefore Bitcoin enables criminality - Yeah but ransomware is a function of poorly managed vulnerabilities in software and hardware, and criminals have extorted money by ransom, kidnap and blackmail for centuries. Don't hate the player, hate the game.
• Bitcoin is unregulated, ungoverned and risky - Yeah but look what a mess the governments are making by endlessly printing money to bailout failing businesses, making the rich even richer in the process. Does this feel safe and stable to you?

It's tiring, repetitive and pointless.

We never bridge the gulf between the two sets of views. But have you considered that Bitcoiners share many of the same concerns as you?

I love our planet.

I have kids and I want them enjoy long and healthy lives, maybe giving me grandkids in time (a LOT of time in case they read this). I want to have enough money to enjoy a long and prosperous life with them all.

But I don't want to enjoy it living in a radiation-proof bunker in a post-apocalypse desert where only the richest survive, temperatures soar, water is scarce and the air is unbreathable. I just hope that the promises of using clean energy to sustain Bitcoin are viable and that they manifest - and I'm keenly following and supporting such efforts as much as I can. I want to be a trojan horse who tries to influence the situation from within rather than a critic berating it from the outside.

And I recycle and walk a lot too, and only flush when absolutely necessary to save water, so…

I fear criminals (and I'm not one)

I don't want to live in fear of my wealth or property being snatched by criminals but I'm pragmatic that this risk won't be removed by banning Bitcoin. I pay my taxes and I'm not looking to go off-grid or avoid responsibility by investing in Bitcoin. If I ever sell it then I'll pay whatever tax is due on my gains (if I make any).

Criminals will always find ways of exploiting people for financial gain - no matter if ransoms are demanded in gold coins, unmarked dollar bills, Bitcoin or bottles of water.

I love and hate having people in charge of my life

It could be seen as scary that there's no regulation of Bitcoin.

When I transfer my precious GBP onto a crypto exchange I'm mindful that if it disappears there's no-one to blame or escalate to. When I transfer Bitcoin off the exchange and onto my crypto wallet there are always a few butt-clenching minutes when it's gone from one and hasn't yet appeared on the other. If it never shows up there's no helpdesk I can call to resolve it. The police will be ambivalent if my Bitcoin are stolen.

With Bitcoin there are no grown-ups in charge. We are the grown-ups, but that's the point.

Many are growing skeptical about the role, capacity, capability and motives of our governments, banks and authority-figures to make the right decisions in our collective interests.The same is true for Bitcoiners and Bitcoin-haters alike. Rightly or wrongly Bitcoiners see a way that decentralised finance might shift the power a little in our favour. If we're wrong feel free to laugh, but don't hate us for trying.

Having a Big Brother-esque government controlling and watching over us and promising financial safety and security isn't really working out that well any more. I'm not a card-carrying libertarian (God bless the police and our precious NHS for example) - I just don't trust banks and politicians as much as I used to.

Buying a little Bitcoin feels like a token gesture to take back a bit of control and autonomy - maybe I'm naive, but at least I'm trying.

I'm sticking it to the man, one Satoshi* at a time.

(*1 Satoshi = 1/100,000,000 of a Bitcoin in case you wondered and couldn't be bothered to look it up)

We're the same, you and me

My point, dear hater, is that we're a lot alike. We share many of the same doubts and worries, we're just choosing to tackle them in a different way.

Not better, just different.

I bet you want a bit more money, just like I do  - Maybe you've dabbled with get-rich-quick schemes and had your fingers burnt (as I have). Perhaps you've felt overworked and underpaid. Maybe you invest in something other than Bitcoin and dream of that changing your life someday.

I feel the same as you. I've just put one finger in the Bitcoin pie in case it pays off. I'm not banking on it but I live in hope. If it's not for you - that's cool.

You probably experience FOMO, doubt and insecurity just as I do  - I've missed many boats in my life and understand the accompanying shame and regret. I was late to the Bitcoin party but am glad I got involved. If you don't want to that's totally fine, but don't hate me for taking a chance.

Bitcoin isn't the be-all and end-all.  Bitcoin isn't life. Bitcoin won't fix everything. Bitcoin alone won't make you happy or fulfilled, change the world, fix all its problems or bring about world peace. Nothing will.

Whether you're passionate about writing, reality TV, music, football (not soccer), investing in gold, building models from Lego or whatever else, I doubt you feel any of that is more important than family, friendships, love or the pursuit of happiness?

Regardless of how it might seem, we Bitcoiners feel the same way.

So don't be a hater, be a lover. Or at least, be ambivalent - it's only Bitcoin, right?

Yours in Bitcoin, Satoshi Nakamoto

Originally Published on Medium