21 Lessons


21 Lessons – What I’ve Learned from Falling Down the Bitcoin Rabbit Hole is one of the most recommended Bitcoin books around the world. The book is written by Gigi, an anonymous bitcoiner.


21 Lessons – What I’ve Learned from Falling Down the Bitcoin Rabbit Hole is book written by Gigi, a bitcoiner and software engineer. It’s one of the most recommended Bitcoin books around the world.

The book is accessible in a variety of formats, including an audiobook, a virtual reality world, and translated versions including English, German, Dutch, French, and Italian. It’s also possible buy a signed copy.

The rabbit hole

Falling down the Bitcoin rabbit hole is a strange experience. Like many others, I feel like I have learned more in the last couple of years studying Bitcoin than I have during two decades of formal education. The following lessons are a distillation of what I’ve learned. Bitcoin is an inexhaustible teacher, which is why I do not claim that these lessons are all-encompassing or complete. They are a reflection of my personal journey down the rabbit hole. There are many more lessons to be learned, and every person will learn something different from entering the world of Bitcoin. I hope that you will find these lessons useful and that the process of learning them by reading won’t be as arduous and painful as learning them firsthand.

An immaculate conception

Everyone loves a good origin story. The origin story of Bitcoin is a fascinating one, and the details of it are more important than one might think at first. Who is Satoshi Nakamoto? Was he one person or a group of people? Was he a she? Time-traveling alien, or advanced AI? Outlandish theories aside, we will probably never know. And this is important.

Satoshi chose to be anonymous. He planted the seed of Bitcoin. He stuck around for long enough to make sure the network won’t die in its infancy. And then he vanished.

What might look like a weird anonymity stunt is actually crucial for a truly decentralized system. No centralized control. No centralized authority. No inventor. No-one to prosecute, torture, blackmail, or extort. An immaculate conception of technology.

“One of the greatest things that Satoshi did was disappear.”
Jimmy Song

Since the birth of Bitcoin, thousands of other cryptocurrencies were created. None of these clones share its origin story. If you want to supersede Bitcoin, you will have to transcend its origin story. In a war of ideas, narratives dictate survival.

“Gold was first fashioned into jewelry and used for barter over 7,000 years ago. Gold’s captivating gleam led to it being considered a gift from the gods.”
Gold: The Extraordinary Metal

Like gold in ancient times, Bitcoin might be considered a gift from the gods. Unlike gold, Bitcoins origins are all too human. And this time, we know who the gods of development and maintenance are: people all over the world, anonymous or not.

Bitcoin taught me that narratives are important.


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