Gradually to Suddenly Overnight

The idea of a “gradually, then suddenly” movement for Bitcoin has persisted for many of the cycles during its existence. With every advancement to champion Bitcoin, supporters continue to wonder if that particular advancement is the one that clearly marks the transition from the “gradual” period to that of the “sudden.” 

Below are some key points in Bitcoin history that aimed to move the needle from gradual to sudden:  

El Salvador adopts Bitcoin as its reserve currency. El Salvador was the first country to do this and people wondered if it would prompt the network effect of other countries to follow suit and therefore initiate the “sudden” period. As of the time of writing, the answer remains no. Suddenly, this will change. 

Michael Saylor and MicroStrategy switch their company treasury to a Bitcoin standard. The first noteworthy corporation to take this action, but many wondered if it would it prompt many other companies to follow similar actions. As of the time of writing, a couple of companies have recently made similar movements, notably Metaplanet, but the answer remains no on a mass scale. Suddenly, this will change.

Spot ETF applications were approved and started in January of 2024. With the easiest access to Bitcoin ever for Wall Street, retail investors, and many investment funds, many wondered if this would prompt Bitcoin to move from a talking point to a foundational position in everyone’s portfolio. After roughly six months of activity, it is tough to argue against the success of these ETF products but as of now, they have not caused Bitcoin to move into the “suddenly” period. Suddenly, this will change.

Bitcoin is a political talking point in the 2024 Presidential election. Former President Donald Trump, many Representatives of Congress, and Senators seemingly have new quotes and discussions about Bitcoin daily. Will Bitcoin turn voters into one-issue voters in the 2024 Presidential Election? Will Bitcoin become a key issue that swings the election one way or the other? I was told at a Bitcoin meetup in September of 2023 that this was unlikely. At the time I argued that 2024 would be the first election where Bitcoin was a prominent issue and as of now, I believe I will be right. But will the 2024 presidential election move Bitcoin into the “suddenly” category? I can’t predict the future but I believe many more politicians will continue to realize that standing against freedom money and the most asymmetric bet of humanity will be a losing battle. As of now, there are still opponents to Bitcoin. Suddenly, this will change.

If none of these events, and countless others, failed to move Bitcoin from the “gradual” period to the “suddenly” period, what will? 

Everything above and everything yet to come. 

It all compounds. 

Bitcoin is a network and in a network’s nature is the fundamental characteristic that actions enacted upon it will build the network’s reach while intertwining itself in deeper ways with those who participate in its existence.

Here lies the paradox of the gradually, then suddenly movement: 

Any movement, revolution, or recreation of any current system cannot occur overnight. One day, the overnight success will come but the reality of what that overnight means is contrary to its definition. 

Anything deemed an overnight success was undoubtedly countless hours if not months or years in the making. Nothing appearing as overnight was really just one night. One night can change a person’s life but to reach that one night, it takes the compounding effect of sustained effort and commitment over the long term. The overnight success is the break that finally pushes you over the edge and spirals you into the new world your particular pursuit aims to take you.

You can’t become a top podcast in the world if you quit before episode 20. But make it to episode 21 and you are already among the top 1% of all podcasts. 

The Beatles became the biggest band in the world, if not of all time, but only after spending nearly 10,000 hours performing in front of small crowds in Hamburg dive bars. 

Bitcoin will reach the wallets, minds, and lives of billions of people on Earth but it won’t be the act of any single day. Rather, it is the act of every today, every tomorrow, and every yesterday that continues to, and constantly, adds to the potential energy and position of where the Bitcoin rollercoaster is. 

We are still on the ascent, patiently waiting for the stomach-dropping, toe-curling, voice-screeching drop that comes gradually, then suddenly all at once.  

Gradually then suddenly is an overnight success many years in the making. 

One day, the suddenly will appear like we have never seen before. 

Stack SATs. 

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