Every Sunday morning I like to write about 3 random things that are on my mind.
Sometimes these things are about business…
Other times they’re about life.
And sometimes they’re just truly random.
But today I’m going to do a special Bitcoin edition.
I’ve been in Miami all weekend for the Bitcoin conference, so all 3 of my thoughts are going to revolve around that.
So with that said…
Let’s jump into the first thing on my mind this morning.
1. Bitcoin is still very much in it’s infancy
After being at the Bitcoin conference, one thing really stood out to me…
Bitcoin is still very young.
How do I know?
Simply by looking at the attendees at the conference.
It reminded me of your typical internet marketing event back in 2006.
It was just a bunch of guys who looked like they lived in their mom’s basement.
This is what IM events looked like back in the day.
But they’ve come a long way since then.
If you go to an event like Traffic and Conversion, it’s a very different scene today.
There’s tons of people in suits…
40% of the event is women…
It also has a more corporate feel to it.
That’s all changed as the IM industry has matured.
Which is why I think despite Bitcoin’s huge amount of growth over the last few years, it’s still just getting started.
Which is a good sign.
Cause that means there’s a lot of growth still to come.
Alright, let’s hop to the 2nd thought on my mind this morning…
2. I’m not a big fan of Miami
I’ve been to Miami prolly 6-7 times in my life and I’ve just never vibed with it.
I’m not sure why.
I feel out of place when I’m there…
And the whole nightlife scene in Miami is just not my vibe.
Everything just feels a little over the top.
I know I’m probably in the minority on this.
Cause a boatload of people are moving there…
And most people like Miami.
But it’s just not for me.
I’ll obviously go there for events…
But outside of that, I don’t see myself spending much time there.
Plenty of other places I enjoy more…
Alright, let’s do one more of these.
3. Being open to hearing new ideas is a skill that will make you a lot of money
There’s a really good story in the Bitcoin Billionaire’s book about how the Winklevoss twins were in Ibiza ten years ago and some random guy started telling them about Bitcoin.
The twins had no idea who this guy was.
He just knew them from the Social Network, and started telling them about Bitcoin.
Most people in this situation would probably blow the guy off.
I know I probably would.
But the Winklevoss twins are the kind of guys who are always open to hearing new ideas.
So they sat on a daybed on the beach and listened to this guy tell them about the ins and outs of Bitcoin for nearly two hours.
It caught their attention.
And intrigued them…
So they went home and did a bunch of research on it.
And a few months later, they bought their first Bitcoin for about $10.
Over the span of the next year, they put something like $11 million into Bitcoin.
Which is insane.
But that bet has paid off very handsomely for them.
Cause they’re both billionaires today.
And one of the main reasons they’re billionaires is because they were open to hearing a new idea.
They didn’t just ignore it.
Or think “I know better”.
They were open to hearing about Bitcoin when it was nothing.
And I think that’s an important point.
I personally heard about Bitcoin in 2015 from a buddy who was encouraging me to put some money into it.
But I didn’t listen.
I wasn’t even open to listening and forming my own opinion.
I just ignored him.
And I wrote it off without ever hearing his thoughts on it.
Well that turned out to be a dumb move on my part.
But again…
I think it’s a good learning lesson.
Being open to hearing new ideas is smart.
It’s what successful people do.
You don’t have to follow through on the ideas if they don’t resonate with you.
But it’s smart to simply listen…
And then to form your own opinion.
That’s a skill that will pay big dividends in the long run.
Make sense?
I hope so.
Cause that’s all I got for ya this morning.
I’m heading back to Austin now…
Enjoy your Sunday.
– Justin
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