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.
Notorious D.O.G.E. is long time Bitcoiner whom many of us have argued with on twitter about his fascination with shitcoins and his outspoken criticism of Bitcoin Maximalism. Depsite this his love for Bitcoin and experience surviving two bear markets make him an interesting perspective to pay listen to.
How do people know you?
I’m a yellow dog on the internet
How long have you been into Bitcoin?
2 full bear markets
Best Bitcoin experience?
This whole thing has been an experience and has been amazing.
Worst Bitcoin experience?
Watching my friend who got me into bitcoin ruin his life
What do you think is Bitcoin’s biggest threat?
Bitcoin maximalism dividing cryptocurrency community and causing infighting.
There’s a difference between bitcoiners and bitcoin maximalists.
Bitcoiners have positive attitude, DYOR, and help people and teach and build but Bitcoin Maximalists are blindly hate everything they don’t understand, don’t build anything and just piss on everyone they don’t agree with.
Be a Bitcoiner, not a “Bitcoin Maximalist”. Be positive and bring good to the space. Build stuff, encourage others.
What are your thoughts on the various Bitcoin forks?
Better than trying to change bitcoin itself to suit the forker’s needs — ideally they’d make their own alt though without stealing the utxo set from bitcoin. Bitcoin forks really manipulate the market caps. Also bitcoin is not the fairest of distributions tbqh litecoin had fairer distribution. I digress, really no reason to take the utxo set imo except fake market cap & pumpability.
What are you optimistic about in this space?
Cryptocurrency community as a whole, weakening of banks and governments, self sovereignty
Biggest regret during the last bull market?
I was gonna buy a new car and a house in puerto rico but I bought a used car instead lol
What have you learned during the current bear market?
The salt is real! BTFD! Buy when everything looks like absolute garbage.
What is the biggest fail you have seen during the bear market?
What do you think helped trigger the current bear market?
It’s cyclical — everything is based on halvings imo
What kind of damage do you think latest price drop has done to buyer sentiment?
Haha this question might be obsolete after the last pump, but yea sentiment is on the way up
How do you feel about the current state and future of lightning network?
LN is cool. Don’t use it currently. Dogecoin is fast enough for me and works on chain. Much accept! I currently use bitcoin as a rai stone.
What are your thoughts on HODLing Bitcoin?
If there’s only 21 million bitcoins ever to be produced then there’s less bitcoins on the planet than millionaires. HODL is probably a good move, friend.
What are you thoughts on alt-coins?
Altcoins are helpful to Bitcoin. Whenever bitcoin mempool is full altcoins can take on overflow to help people to transact.
Do you hold any? If not, why?
Yea a bunch, is it shill my bags time? DOGE, WAVES, LSK, DCR, GRS, LTC. I have more coins of dogecoin than anything else. This is how I can be a dogecoin maximalist. But I have more dollars in BTC than anything else — but value is variable to quote elon musk
What kind of impact do you think the radical drop in alt-coins will have on their future?
Thoughts on the notion of bitcoinization?
Hope so! I see bitcoin as a monetary transfer vehicle between nation states as on chain fees will be too expensive for normal people to use once a satoshi is $100. Lightning won’t fix this because you have to still settle to the chain to close your channel.
What Bitcoin startups are you excited about?
Most bitcoin startups fail because they don’t add value and are just rent seekers.
What “crypto influencers” do you think get it wrong and why?
Many maximalists hate on everyone while not working on themselves or their own projects. If you don’t build anything or do any work to support bitcoin, why should you hate people who are doing work and building to support an altcoin? Better to bring positivity to the space.
Then there are a bunch of crypto influencers who are all clout and hype and followers and it is just silly to me.
What “crypto influencers” do you think get it right and why?
Elon Musk. He loves dogecoin and is my favorite lol
What’s it going to take for this bear market to turn around?
Seems like it’s turning :) but yea maximum pain is what we needed to turn it around — BTFD!
How bullish are you on Bitcoin despite this recent pullback?
Super bullish BTC $100k to $400k next bullrun — and dogecoin to $1
Any tips you want to give to people new to Bitcoin?
Ignore assholes. DYOR before calling something a scam. DYOR always on everything. Why are you trusting me? DYOR.
Best tips for storing Bitcoin?
1: not your keys not your coins — don’t hold crypto on exchanges
2: You are your worst enemy. Back shit up! Don’t lose everything because you didn’t back up your seed phrase. And don’t store your seed phrase in any electronic device — write it down on a paper!
3: Ledger, trezor, keepkey, coolwallet — diversify among trusted hardware wallets in case one type has a vulnerability.
Name some of your favorite information sources and/or podcasts in the space.
I prefer to read a book. Andreas Antonopoulos has his books on github for free!
Any last words of wisdom?
Why are you trusting a yellow dog for crypto advice? DYOR!