Long Road to Bitcoin Expertise
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Competence in any subject can take a lot of hard work and dedication. But Bitcoin, being both technically oriented and encompassing so many disciplines, can be particularly difficult. I discussed this idea and more with Chris Alaimo, one of our recent employee additions here at Bitcoin Magazine. His work in multimedia made him an ideal candidate for the video side of our magazine, and it was great to hear how he got started in bitcoin, lessons learned, and what he looks forward to. Be sure to check out the podcast and written interview below.
How did you first discover Bitcoin?
I first discovered bitcoin in 2010 with the bitcoin pizza story (of course I didn’t buy it, but I heard about it then).
Then my second bitcoin touch point was in the second half of 2017 when an acquaintance from college said everyone should buy bitcoin and we would all get rich, but they were the kind of people to have never invested in anything and not a reliable person for investment advice. So not that I called the top but I thought bitcoin was the equivalent of tulip mania and I didn’t buy any either and felt vindicated when it rose from $20,000 at $7,000.
My final touchpoints were in early March 2020 for the “investor podcast” for the Quarterly Brain Conference with Preston Pysh, Stig Brodersen, Hari Ramachandra and Tobias Carlisle, where Preston recommended Bitcoin and I thought to myself that the cryptocurrency is not my thing, then it recommended again end of May in 2020.
In all my years of listening to the podcast, I’d never heard one of them recommend a pick in back-to-back quarterly brainstorms and I remember thinking to myself, “Wait a minute, what the hell? what am I missing for Preston to recommend bitcoin again in back-to-back quarterly brain calls?!?” and in early June 2020 I bought some bitcoin for around $9000 and that’s when This is where I really went down the rabbit hole.
What is the main “life lesson” you learned from your time in bitcoin?
Life is tough and it’s not fair, but that doesn’t mean it’s not worth living. Always try to improve yourself every day. You are not competing against the world, you are competing against yourself.
What advice would you give to someone looking to start working in the bitcoin industry?
Bitcoin trades 24/7 and there is always something new to learn. Again, this ties into my last question: Bitcoin and life aren’t easy, but that doesn’t mean you shouldn’t give it a try.
People in space are usually more than happy to help newcomers. The best people in space will always tell you to draw your own conclusions and do your own research, but they are more than willing to explain anything and everything, then it’s up to you to study, learn and experiment yourself.
What is the biggest change for the world that you want to see from the adoption of bitcoin?
Free and open markets and a true entrepreneurial spirit. Not all of these companies are fundamentally supported by cheap debt, low interest rates and tax breaks/incentives.
What are you most looking forward to in the Bitcoin space?
Extension of the Lightning Network and third layer functionality.
Price forecast for the end of 2021 and the end of 2030?
My price prediction was $228,000 at the start of the year, but now that we are in the last month of 2021, I think it will be closer to $100,000. I’ve always thought that around $4 million per bitcoin by 2035 when 99% of the total supply is mined and a market cap of around $80 trillion makes sense based on a rate of super conservative growth of 30% per year, assuming $100, — by the end of this year, so it would be around $1 million per bitcoin by the end of 2030, but the price is everywhere and impossible to predict in truth.
My true price prediction is a block height of 716,389 blocks by the end of 2021.