Pirate Beachbum

Bitcoin Editor at Large

Bitcoin Bear Market Diaries Volume 1 with Hodlonaut

The Bitcoin Bear Market Diaries are a series of interviews featuring various important voices and perspectives in the Bitcoin ecosystem. Each interviewee was carefully selected and asked the same group of questions. The main goal was to provide the world with a collection of commentary and opinions on the state of the current Bitcoin and crypto market. Some of the names you will recognize while others don’t wish for the limelight but have great insight and experience we all can learn from.

These interviews are raw and unfiltered with no agenda other than giving each individual their opportunity to speak their mind. If you like what you see, please share with your friends. If something offends you, you should probably X out and find another crypto fluff piece that gives you warm fuzzies.

Name: Hodlonaut

Country: Norway

How do people know you?

As @hodlonaut on twitter.

How long have you been into Bitcoin?

Since 2013

Best Bitcoin experience?

The UASF and No2x victories of 2017. Oh… And how the #LNTrustChain blew up!

Worst Bitcoin experience?

Having a lot of funds on BitFinex when it got hacked.

What do you think is Bitcoin’s biggest threat?

Social attacks that split the community. I think the current push for block size reduction, despite very little clarity or discussion is extremely misguided.

What are your thoughts on the various Bitcoin forks?

They are all shit, just different flavors.

What are you optimistic about in this space?

Pretty much everything about Bitcoin. But most of all that there are so many brilliant people here, building and educating every day.

Biggest regret during the last bull market?

Of course that I didn’t sell the top so I could increase my stack, but it’s not really a regret. I believe too hard to sell, even tops. :)

What have you learned during the current bear market?

That bear markets are healthy. It has never been more apparent to me how many great people we have in Bitcoin, both social and infrastructure fluff is gone, real shit is being built.

What is the biggest fail you have seen during the bear market?

Probably Kevin Pham jump into the BSV clown car.

What do you think helped trigger the current bear market?

We went too high on euphoria. Also, the massive selling by Bitmain and the bcash boyz to prop up bcash was a factor.

What kind of damage do you think latest price drop has done to buyer sentiment?

Not much. As soon as the momentum shifts again, the herd is coming back. They just have to hear from their local msm truth outlet that Bitcoin is back.

How do you feel about the current state and future of lightning network?

Extremely bullish. Haven’t been this excited about Bitcoin since my honeymoon after discovering it.

What are your thoughts on HODLing Bitcoin?

Only rational approach for me. I feel duty bound to put as much skin in the game as I can when I discover something I believe in, that can achieve meaningful change. And I believe more in Bitcoin than anything else, except my daughter :)

What are you thoughts on alt-coins?

I am not as black and white as some others. I think some could possibly have a future. I have a couple of bags, deeply in the red of course. But I do regard most altcoins as pretty close to straight up scams.

Do you hold any? If not, why?

Yes I do. Mainly to increase my Bitcoin stack.

What kind of impact do you think the radical drop in alt coins will have on their future?

I think there is no shortage of stupidity and greed out there. I also think the next bull run will be greater than the last, and drag a lot of alt euphoria with it.

Thoughts on the notion of bitcoinization?

I think it will happen. I think it’s inevitable.

What Bitcoin startups are you excited about?

CasaHodl, Samourai, Lightning Labs… a lot. Also extremely impressed with everything Blockstream is doing, but not sure if they qualify as a startup anymore :)

What “crypto influencers” do you think get it wrong and why?

JW Weatherman, Richard HeartWin, Chris Derose… I think their ego got the best of them.

What “crypto influencer” do you think get it right and why?

Many do I think. Pierre Rochard is one I respect a lot. He builds things, is honest and rational, has time for noobs, argues his points well.

What’s it going to take for this bear market to turn around?

I think we are just lacking the spark to ignite the powder keg. Institutions making a move, Elon doing some announcement, a couple of coked up oligarchs going in hard… if none of those happen, time will do it for us. I think we are going to see the bull market kick off during 2019.

How bullish are you on Bitcoin despite this recent pullback.

10/10.

Any tips you want to give to people new to Bitcoin?

Just buy and hodl Bitcoin. Don’t follow anyone blindly. Be critical, think for yourself and participate in discussions!

Best tips for storing Bitcoin?

Get a hardware wallet, and store your seed securely. I use Trezor.

Name some of your favorite information sources and/or podcasts in the space.

I use twitter mostly. Amazed at how many good accounts are out there, most of them very underfollowed. I do think Stephan Livera, Tales from the Crypt, Bitcoin And . . . and Fun With Crypto are examples of great podcasts though!

Any last words of wisdom?

Be honest to yourself and people around you. Eat tacos.

Stay tuned for the next Bear Market Bitcoin Diaries. I have some awesome interviews in the queue and will be dropping new volumes regularly. Special thanks to Hodlonaut.

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