Well-known Bitcoin enthusiast Anthony Pompliano, founder of Morgan Creek, posted Off in Chain in his column Twitter post dedicated to investors. His main idea is the need to recognize the concept of bitcoin as a peaceful protest against the system.
According to him, there is a difference between users from the bitcoin community: some act as mercenaries, others act as missionaries. He describes in detail both those and others.
Focusing on ideological supportmass adoption of cryptocurrency, Pompliano quotes the famous venture capitalist John Doerr, who led Kleiner Perkins Caufield & Byers: "we need teams of missionaries, not mercenaries."
According to Pompliano, for each typeuser has its own ecosystem. For example, he defines Wall Street as an environment full of ruthless mercenaries, focused on profit, in which sooner or later people will surely gnaw each other's throats.
Over the past ten years, the Bitcoin ecosystem has been characterized by the presence of a large number of missionaries who went beyond the profit aspect and believed in the idea of a “peaceful revolution."
[New Post] For Bitcoiners, this isn’t an investment. It is a protest. A peaceful protest against the system.
Better yet, Bitcoin is a revolution. A revolution that stands to change the world in ways that most people can’t even comprehend yet.https: //t.co/bmWKEDDccM
- Pomp? (@APompliano) December 3, 2019
This attitude goes beyond bullish orof bearish interests, an estimate of bitcoin in dollar terms and explains the attitude of holders who, regardless of cryptocurrency price fluctuations, continue to keep the asset in their wallets.
In a statement, Pompliano explains well the phenomenon that @Rhythmtrader analyst tweeted about, according to which 11,580,000 bitcoins had no movements in the last year.
11,580,00 bitcoin have not moved in over a year.
Even with a 85% increase in price during that time, those millions of bitcoin were not sold or traded.
Hodlers of last resort are insane. pic.twitter.com/KTpeDrLlOO
- Rhythm (@Rhythmtrader) December 1, 2019
“11,580,000 BTC have never moved during the year. Even at the time of a price increase of 85%, they were not for sale. Hodlers are crazy in their strategy. ”
This may seem crazy, but here's how Pompliano argues:
“For bitcoiners, this is not an investment, this is a protest. Peaceful protest against the system. Moreover, Bitcoin is a revolution that should change the world in a way that most people cannot even imagine.
If successful, Bitcoin will usher in a new era where there is a separation of state and money, when people trust transparent programmable systems. ”