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For this episode of Bitcoin Magazine“Meet The Taco Plebs” was joined by Labra HODL (@ labrahodl6), one of the star members of Bitcoin Twitter.
Labra and I start this conversation with him, telling his story about the rabbit hole and how he got into Bitcoin. He tells us that Bitcoin first appeared on his radar back in 2010. He didn’t dive too deep into the radar at the time and unfortunately got involved, but not long after that he heard about it again when PayPal blocked Bitcoin payments. This caught his attention even more and then he plunged headlong into Bitcoin on the last bull run in 2017. And the rest is history!
During the course of this interview, Labra shared that adopting a lower time preference changed his life and enabled him to save more. We talked a little about responsibility and work experience. Many children and young people no longer work today (here in the USA). Working summer / winter jobs and jobs like mowing grass and raking leaves are opportunities that are wasted by so many these days. You don’t learn the responsibility that comes with a job and then responsibility for the money that comes with it.
Some of Labra’s favorite things about Bitcoin are the ability to self-custody your assets and the ability to store your monetary energy in a limited supply of 21 million. Your wealth will not be inflated with Bitcoin and that will allow you to actually save your wealth. It is impossible to save in Fiat so this is life changing. He’s also extremely optimistic about the Bitcoin zoomers!
Below are some of the most interesting thoughts from Labra that were shared during the interview. See the full episode for more information.
How did you find Bitcoin and fall into the rabbit hole?
The first time I heard about Bitcoin was around 2010 or 2011, I followed WikiLeaks a lot and one day I read the news that PayPal has frozen WikiLeaks donations and that WikiLeaks has started accepting donations in Bitcoin. I didn’t pay too much attention, but the seed was planted.
I didn’t buy my first bitcoin until the crazy bull run in 2017. I bought it for $ 12,000 in December, bitcoin was on the news and I couldn’t ignore it anymore. I saw it go up to $ 20,000 and I didn’t understand what it was next, then it crashed to $ 3,000. Between 2018 and 2019, I took the time to educate myself and understand the economy and technology. I wanted to understand what it is that is driving the price crazy. Then the crash came in March 2020 and I found Bitcoin Twitter with all the cool memes and great PLEBS. Since then, I’ve become a hardcore stapler.
How has Bitcoin changed your life?
My time preferences have changed radically. I used to get paid and had to spend the money. Where I live now, the inflation rate is around 10 percent a year, according to government figures, but in reality it is around 15 to 20 percent. In a way, that forces you to spend your fiat quickly or it will lose value. Glad we have Bitcoin, thanks to Satoshi and all the people who contribute.
What is the most amazing thing about Bitcoin for you?
We have never seen the fact that we can send value over time and space and very few people understand it.
What are you most looking forward to in the Bitcoin space?
The Lightning Network is something that surprises me, instant payments and access for anyone with a cell phone. It is incredible that you can send money to the other side of the planet instantly anytime you want.
What is your price prediction for the end of 2021 and the end of 2030?
I’m really bad at making price predictions. The aim is Infinity, LOL, but by the end of 2021, I wouldn’t be surprised if bitcoin was at $ 100,000 and over $ 1 million by 2030. (Yeah, I know this is a little bearish, add bear emoji here. LOL) All because of NGU, the # CONTANGO, and #SATSQUEEZE.