⚡️Hackalajara is a wrap! Congrats to all the winners @super_testnet will be making those announcements soonish! pic.twitter.com/zbZHqAshGA
— PlebLab (@PlebLab) December 2, 2024
It's been a while since I've had the chance to sit down and write this, but things have been incredibly busy. I just got back from Guadalajara, where PlebLab was part of their first hackathon.
Not gonna lie, it was amazing seeing young builders dive into their first Bitcoin hackathon project. I have a feeling we'll have more opportunities like this throughout the cycle. Definitely looking forward to it!
PlebLab Upgrades to V.4
On another note, PlebLab has just upgraded to V.4. We moved into the Littlefield building in late October, right next door to Unchained Capital and the Bitcoin Commons. The building never stops its 24/7 in this place.
Every day feels surreal, walking into work and seeing Bitcoin legends in the hallways, popping in for conversations, laughs and overall good times.
To say the vibes are high would be an understatement.
A Different Cycle
This cycle feels different from the last—not just because of price increases or the influx of institutional capital, but because there's a growing understanding that Bitcoin isn’t just an investment anymore. It's becoming a foundation for resilience, and a fundamental aspect of how to create, grow, and sustain value over time in a business. I'm talking about individual balance sheets here.
If enough new businesses and startups in Texas adopt a Bitcoin strategy this cycle, we could see a cascading effect—a kind of economic game theory scenario where opting out might mean getting left behind. I've written about this before and even discussed it in detail with Robin Seyr.
Bitcoin in a Post-ETF World
Let me diverge here for a bit—you might be tired of hearing me rant about this post-Bitcoin ETF world every week on SNL, but it's true: we’re already seeing the first- and second-order effects of it.
Bitcoin’s position as the modern equivalent of gold is strengthening as these financial instruments make it accessible to a broader range of investors.
The serious risk, though, is and always will be centralization.
Sure the barrier to entry for traditional investors is significantly reduced, enabling more people to gain exposure to Bitcoin without dealing directly with the complexities of wallets and private keys.
This accessibility could drive up demand, early adopters benefit from growing value, while later entrants face higher costs to acquire the same asset.
But under no circumstances should you leave your Bitcoin on exchanges or other custodial services—the risk of a rug pull far outweighs the convenience, this includes anything you are swapping Bitcoin for.
With the decreasing supply now down to 3.125 BTC per block, there's more friction than ever in acquiring and holding Bitcoin non-custodially.
A Blueprint for the Future
The growing acceptance of Bitcoin among Texas small and medium size businesses, especially startups, signals a broader shift.
Startups even outside of Bitcoin have a real advantage if they recognize Bitcoin's disruptive potential—but they have to wield it.
I’m really not trying to pick on the California startup scene, but it’s no secret that the hurdles to capital there are high—not to mention the high cost of living and the focus on traditional tech growth at all cost models that just don’t align with the reality of a hyper-bitcoinized world.
In Texas, Bitcoin startups operate in an environment that encourages a grounded approach, agility, and bold innovation and what’s not to like? Lower operating costs, a pro-business attitude, and a supportive community for Bitcoin business creation.
The Call for Founders
The question for founders today is, "Will you be among those who seized the opportunity early in 2024, or will you be playing catch-up while the next wave of Bitcoin adoption passes you by."
The message early in this cycle is a hundred percent clear. The future is now, and Bitcoin is part of it.
“If you’re going through hell, keep going.” ― Winston Churchill
