Build for Mass Adoption
My Bitcoin Thesis
As a Bitcoin entrepreneur and founder of a Bitcoin startup, my thesis is to “Build for Mass Adoption”. My journey started in early 2016 when I read a whitepaper about this magic internet money called Bitcoin. It changed my life. After doing my own research, I understood that Bitcoin was going to change the world and that it needed to be easy for people. Anyone looking at the on-chain activity, the layer 2 developments, the impact that Bitcoin is having on nation-states, and the fact that the current power system is railing against Bitcoin out of fear should see that Bitcoin has indeed changed the world. As we enter the era of the 2024 Halving, it’s an important time to examine what’s being built for the world since there is a renewed, heightened interest in Bitcoin, from institutions to everyday people.
Mass adoption refers to the acceptance and use of a technological innovation by the majority. Technological infrastructure, regulatory frameworks, and public understanding are paramount regarding onboarding the masses. In my opinion, the industry is making great strides in all of these areas, but I wish to challenge us regarding meeting people where they are. My mother is a retired Christian missionary, so on any given Sunday, I grew up around ministers of the Gospel of Jesus Christ, politicians, and multimillionaires. My destructive father was a drug dealer who was in the presence of murderers, prostitutes, and gang members. Aside from the polarizing differences in lifestyle choices and professions, I saw a common theme within the two worlds, which was meeting people where they are to fulfill a need.
As more people understand the importance of Bitcoin as a once-in-a-lifetime opportunity to truly own their wealth, many will have questions. Bitcoin as a store of value, as a deflationary asset, as a divisible means of exchange, as a decentralized network, as a platform to build on, as a base layer for layer 2 blockchains to create more expressive outputs for Bitcoin at scale sounds good, but how does this help a person in real time if they do not understand it? Once there is a mustard seed of understanding, how easy is it for people to access Bitcoin for their desired needs? Lastly, how easy is it for people to onboard others? In our space, we can get caught up in jargon. What we forget is that we have to build for mass adoption, not for our silos.
In examining Maslow’s Hierarchy, we can begin to place Bitcoin in the realm of serving people's physiological needs, safety, belonging, self-esteem, and self-actualization. This can be a true North Star for builders of the future. What can you build that impacts someone’s life for the better? I believe that Bitcoin entrepreneurs have a twofold mission, which is to make money and to change the world. Bitcoin entrepreneurs have a chance to build the Bitcoin economy by building for mass adoption, making Bitcoin more than currency, but a catalyst for a new system.
What are your thoughts on Bitcoin?
- Christopher Perceptions (@CMPGFB)