There’s an erroneous and insulting line of thinking being perpetuated by a certain crowd, claiming hodlers are free riders benefiting from development without contributing anything of value. This is laughable and demonstrates a clear lack of perspective as to what non-Silicon Valley billionaires are giving up in the act of hodling.
For hodlers, there is a non-trivial opportunity cost to hanging on to bitcoin. We could liquidate our holdings and deploy capital in traditionally safe investments such as real estate. We could start a business or angel invest. And some among us could just convert to fiat and live quite comfortably.
There is also tremendous risk involved. As crypto gains momentum, the possibility of sovereign attacks increase as well. Bitcoin is likely the biggest threat to the established financial order that has ever existed, so it would be foolish to expect them to roll over and take it. In essence, we’re risking this whole thing going to shit. The probability is very much non-zero. Doesn’t quite sound like free riding to me.
This sketch flips the script on the “free rider” insult by turning it into something more appropriate: An 80s motorcycle club.