Bitcoiner

Who is a Bitcoiner?

A Bitcoiner is an individual actively involved in Bitcoin-related activities. These enthusiasts are not just users or investors but staunch supporters of Bitcoin (BTC) and its associated principles.

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Bitcoiners often partake in discussions and debates across social media and online forums, sharing their insights on Bitcoin technologies such as wallets, exchanges, and their practical applications.

United by a common set of values and beliefs, Bitcoiners prioritize the principles of decentralization, censorship resistance, and financial privacy.

These principles are considered crucial in a world where centralized control over digital currency and financial transactions is the norm.

Techopedia Explains

For many Bitcoiners, BTC is more than just a financial asset.

It’s viewed as a revolutionary asset that has the potential to transform the existing financial system. Often described as ‘digital gold,’ Bitcoin serves as a hedge against inflation, thanks to its fixed supply of 21 million coins.

Many Bitcoiners are entrepreneurs establishing businesses that accept or revolve around Bitcoin, while others are early adopters who’ve actively witnessed the growth of the crypto space.

Beyond this, Bitcoiners may actively create or disseminate news, articles, and research studies specific to Bitcoin. They can also participate in mining activities, significantly contributing to the maintenance of the Bitcoin network by validating transactions.

Two notable examples of Bitcoiners are MicroStrategy’s chairman and founder, Michael Saylor, and Jack Dorsey, the former CEO of X (formerly known as Twitter).

Saylor has been an unwavering supporter of BTC and made his first investment of $250 million on August 11, 2020. He is currently holding the largest corporate BTC portfolio of 158,400 tokens.

Similarly, Jack has long been an enthusiast of BTC and its role in decentralization. The entrepreneur founded Btrust, a non-profit organization aimed at advancing the development of Bitcoin in Africa and India.

He also oversees a team of developers working on “Web5,” a Bitcoin-centric model focused on identity management.

What Sets Bitcoiners Apart from Other Crypto Enthusiasts?

Below, we explore the key differences distinguishing Bitcoiners from other digital asset supporters.

Core Differences Bitcoiners Other Crypto Enthusiasts
Primary Focus Focuses on Bitcoin as the pioneer and primary focal point of discussion about how it can create a more secure and inclusive financial system. Diverse interest in various cryptocurrencies.
Philosophy Often aligned with principles of decentralization, financial sovereignty, and resistance to censorship. Varied philosophies based on specific cryptocurrency projects or technologies.
Use Case Frequently view BTC as a hedge against inflation, cross-border payment solution, and anti-censorship model. Interest in diverse use cases, including smart contracts, decentralized finance (DeFi), and specific blockchain applications. A good example is the Ethereum blockchain ecosystem.
Community Engagement Active participation in Bitcoin-related discussions, conferences, and open-source development. Engagement in communities specific to alternative cryptocurrencies, initial coin offerings (ICOs), and blockchain projects.
Long-Term Perspective Many see Bitcoin as a long-term investment and a foundational element of the crypto ecosystem. May focus on short to medium-term opportunities and speculative investments in emerging projects.

How to Become a Bitcoiner

Becoming a Bitcoiner extends beyond merely acquiring BTC. Below, we explore the top six steps to get started.

  1. Educate Yourself: Garner a thorough understanding of the Bitcoin whitepaper, its fundamentals, underlying technology (blockchain), decentralized nature, and the principles of financial sovereignty it embodies. Educational resources like books, online courses, and reliable Bitcoin research platforms can provide valuable information.
  2. Learn Bitcoin Tech: Becoming a Bitcoiner also involves having an in-depth understanding of Bitcoin technology, including major scaling solutions like Lightning Network, Rootstock, Liquid Network, Stacks, and rollups. These solutions address scalability challenges, enabling faster and more efficient Bitcoin transactions while maintaining the network’s security and decentralization.
  3. Join a Bitcoin Community: Engage with the broader Bitcoin community through social media platforms and online forums like Reddit (r/Bitcoin), BitcoinTalk, and X (formerly known as Twitter). For in-depth insights, individuals can join Bitcoin developer communities, participate in discussions, interact, ask questions, and learn from seasoned Bitcoiners like Antoine Riard.
  4. Secure a Bitcoin Wallet: Obtain a secure wallet to store and manage Bitcoin holdings. Wallet options range from software wallets on mobile or desktop to hardware wallets for added security. Understanding how to store and manage private keys safely is important for protecting assets.
  5. Use Bitcoin: One way to better understand BTC is to use it as a medium of exchange. Spend Bitcoin by initiating microtransactions online. Another alternative is to withdraw cash using a Bitcoin ATM to see how it works. This hands-on approach helps users understand the practical aspects of using Bitcoin as a form of currency and forms a deeper connection with the ecosystem.
  6. Stay Informed: The crypto market is influenced by news. Prospective Bitcoiners must stay updated on the real-time developments and news within the Bitcoin community.

Follow reputable sources, podcasts, and influencers in the space. Some popular Bitcoin podcasts include Unchained, Bankless, and What Bitcoin Did with Peter McCormack.

The Bottom Line

A Bitcoiner is an enthusiast who engages in all related Bitcoin activities. These individuals harbor a genuine passion for the network, actively participating in community discussions and debates.

The increasing popularity of Bitcoin, fueled by technological advancements such as the Lightning Network, developments in mining industries, and the emergence of new payment platforms, is projected to draw in a larger number of Bitcoiners.

This heightened interest is likely to initiate continued discussions concerning the evolving utilities and applications of Bitcoin.

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Jimmy Aki

A graduate of the University of Virginia and now based in the UK, Jimmy has been following the development of blockchain for several years, optimistic about its potential to democratize the financial system. Jimmy's previously published work can be found on BeInCrypto, Bitcoin Magazine, Decrypt, EconomyWatch, Forkast.news, Investing.com, Learnbonds.com, MoneyCheck.com, Buyshares.co.uk and a range of other leading media publications. Jimmy has been investing in Bitcoin himself since 2018 and more recently in non-fungible tokens (NFTs) since their boom in 2021, with expertise in trading, crypto mining and personal finance. Alongside writing for Techopedia, Jimmy is also a trained economist, accountant and blockchain…