From: thepipeline_xyz
A significant aspect of the cryptocurrency industry has been the importance of conviction, especially regarding ideas that initially seem outlandish but are later proven correct [00:00:00]. This applies particularly to the original payments aspect of crypto [00:00:09].
Bitcoin’s Original Payment Thesis
Around 2013, it was a widely held belief that Bitcoin would serve as a primary method for payments [00:00:12]. This “payment thesis” for Bitcoin was a common thought process at the time [00:00:13].
Evolution of the Payment Thesis
While Bitcoin is not currently viewed in the same way regarding payments [00:00:16], the underlying thesis of crypto for payments has evolved and largely played out through the emergence of stablecoins [00:00:19].
Importance of Conviction and Adaptation
In the broader context of crypto, maintaining conviction and continuing to build is crucial, even when challenging events occur that might cause doubt [00:00:24]. While it’s essential to adapt as markets change [00:00:36], individuals should remain true to the core beliefs and thesis of why they are involved in the space [00:00:40]. Founders, in particular, are advised to defend their core beliefs against shorter-term market perspectives [00:00:45].