We can say without exaggeration, that the crypto market is the base on which cryptocurrencies rise. Without its existence, cryptocurrencies would be meaningless. Not as virtual money, financial products, or even as a technological instrument to take advantage of Blockchain technology. And the base of this market is its users. So. Jimmy Song comments what are the 3 types of Bitcoin users.
First type: “Old Gangsta” users
This is the first type of users, known as “Old Gangsta”. This would be, according to the explanation of Jimmy Song in his tweet, a type of user more focused on the capabilities of Bitcoin. Especially in security and privacy. They are the ones who would not trade for profit.
Old Gangsta users would be, for Jimmy Song, the “old school” of Bitcoin. Those hodling with the cryptocurrency, take care of the security of their savings in BTC, and trust that its technical capabilities will allow it to continue to increase in value and utility over time. So they wouldn’t be in Bitcoin for trading and quick profits, but for the value of the cryptocurrency itself.
Second type: Traders
The user trader would be the second type of user Jimmy Song mentions. They “They care deeply about liquidity, they want a lot of leverage, and they will operate with whatever” This would be just the type of investor entering the crypto market not because of Bitcoin’s technical capabilities, but thinking about investing in the crypto market for profit.
Traders would see Bitcoin as just another financial asset to trade with, similar to how they view a forex market. Therefore, they do not have the same type of involvement with the currency and the community that OG users do. This does not mean that they are not part of the crypto world, but that their work within it is more oriented towards operating in the market, defining prices and costs of crypto assets.
Third type: The noob
Finally, the last type of user Jimmy Song mentions in his tweet is noob or novice. This type of users would be those who “They buy just some #BTC to get coverage. They eventually become OG” And this is probably the most interesting type of user reviewed by Song.
And it is that, at a time when knowledge about the advantages of Bitcoin and Blockchain technology, began to spread throughout the world. We are likely to start seeing more and more new users within the crypto world.
Although they start buying small amounts of Bitcoin, over time they will be able to fully involve themselves in the crypto community, making it grow.
This is reinforced by news such as the massive purchase of Bitcoin by investment firm Grayscale. Demonstrating the growing interest in broad sectors of society about Bitcoin.
Which, ultimately, will further grow the crypto world, increasing the influence of Bitcoin and other crypto assets worldwide. And creating a community increasingly full of traders and OGs that make the same progress.