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Bitcoin developer gives tips on entrepreneurship and sovereignty



In addition to being a developer, writer and podcaster, Jimmy Song has been studying Bitcoin for a decade, and the journey of learning about Bitcoin is capable of changing one’s way of thinking. The concepts of decentralization, digital security, and other important aspects of Bitcoin are always aimed at considering possible attack vectors.

“Don’t trust, check!” ended up becoming a Bitcoin mantra, as the purpose of this asset has always been to decrease the need for trust for the creation of a sovereign financial system. Sovereignty is a key word in the bitcoiners dictionary.

In fact, according to Song, sovereignty was extremely important in the days of the American Wild West. Not only because of the respect for property rights, but also because it was a common destination for entrepreneurs.

We discovered this curiosity when interviewing Jimmy Song in person, at the Bitcoin SatsConf event, which took place in São Paulo in November. A conversation that was supposed to have BTC as its only topic turned into a chat about individual sovereignty at one point, where Song talks about entrepreneurship and making money in his own way.

See some excerpts below.

Opportunities and Bitcoin

“When people say ‘go west,’ it’s because, at that time, the entire population was concentrated in the east, in Boston, Philadelphia, Washington DC, Virginia. Most people in the US lived close to the coast, so when you went west, you were looking for new opportunities.”Song said in an interview with Cointimes. “If you became a baker, you could compete with the baker who has 40 years of experience, 40 years with the trust of the community and customers, and you would have to change that. Or you could go west where there were no bakers and they needed one. And that wasn’t just for bakers, it was for lawyers, accountants…

For all kinds of people, if you wanted an opportunity, ‘go west’. And to me Bitcoin is that, it’s that opportunity… I wear this hat (The Texan cowboy hat is Jimmy Song’s ‘trademark’) to tell people ‘this is a huge opportunity and you don’t have to follow the other people’s way.

🇧🇷And not following the same path as everyone else takes a long time. To become a doctor, at least in the US, it takes 12 years of elementary school, then 8 years of university, 3 years of residency, and then all the certification exams. And if you want some specialty, another 3 years of residency are needed, and only then can you start serving. That’s a long time, right? And medicine is one of the things that takes less time.

To become the highest-ranking person in the corporate world within a large company, what do you need to do? You need to start, and you need something that sets you apart. You enter the administration and work your way up. From director to vice president and then to chief executive it’s 40 years, it’s a very difficult path.

And that’s how all traditional fiat paths are, as with Bitcoin you can create your own path. Nobody told me that I could teach people how to program bitcoin and make money out of it, it was something I discovered myself, and that’s a good thing.

That’s the beauty of the internet. Before, to become a journalist, you would need to study journalism and then start your career at one of the big media corporations and move up from there. You start in the local media, covering school sports events, then you start writing about the second division in football, that takes a lot of time. But now you can be your own journalist, you don’t have to go through all that terribly long process to become a legitimate journalist, you can just write, and that brings greater freedom because you can do it your way, you don’t have to do what world is doing. For you to write a newspaper column, you are given the number of words and topics for you to write on your own blog. But you can write about whatever you want, it doesn’t have to be objective.

I can write like a fan and see if it works, if people read it, and then the market decides. That’s the beauty of being an entrepreneur, and I encourage anyone who wants to do something, to do it. Discover your own path, because you are probably unique.

My first job as a programmer, and there are a lot of things companies ask you to do as a programmer. “Jimmy Song, We want you to write software with this language, in this environment, make this work, make that work;” But they don’t pay you to do a lot of other things. And later I found out that I had the talent to teach people, I can give interviews, write books. And these are all things that the market wants, but I don’t get paid to do these things because the role I played was very specific.

When you walk your own path, you make the best of yourself and use your unique talents, everyone is a combination of many things; You can be an accountant, but you can also be really good at raising cattle, so you look for the intersection where those things line up and follow. If I’m an accountant for ranches, I can get a lot of money because I can get them to spend less, because I’d know the laws.

It has all sorts of opportunities for entrepreneurs that may be very niche for your interest, and for what you know how to do. I encourage everyone to go after these specific things because not only are they more profitable, they’re also faster. You can just do it your way.

But that puts the burden of figuring out what to do, which is far more rewarding, because you’re using more of yourself, and you’re creating something for the market instead of being stuck in a corporate job and getting depressed and watching porn. everyday.

This epidemic of depression that we see in the world today is precisely because of these meaningless jobs, where you are forced to play roles that you were not meant to play. Bitcoin can be a great way to find what you want to do.”

To become more sovereign, undertake!

“And​I would say one of the main things is making sure your income doesn’t come from one place.

Most people work, and working for companies weakens people because you become dependent on your salary. If they fire you, you’re in debt. Then you go look for another job, which is a lot of stress. But most people live like that.

And this is where I say, be an entrepreneur, because if you’re an enterprising baker and a customer doesn’t like you, that’s okay, you have other customers. In that sense, you are much less susceptible to market shocks, because you have different ways of making money. I would say this is a big part of my self-ownership.

I haven’t had a job since 2017 because I wanted to do things my way, and I think this was the best decision I ever made because now I have 8 different incomes. I write books, I present seminars, I sometimes teach in the ICU, I speak at conferences, I have sponsorship on my podcast, it’s a lot of things. And even if it’s not a lot of money, I don’t put too much effort into any of these tasks either. I don’t work 40 hours a week at any of them, at most 5 hours.

But I have different sources of income, and that allows me to say “no” to a lot of invitations. And that helps me in self-sovereignty, because I don’t have to accept them.

This is the problem with the employer-employee relationship. If you’re an employee and your boss tells you to do something, you kind of have to do it, so you don’t have autonomy.

We’ve seen it in the last couple of years, you had to get the vaccine, otherwise you would get fired. And this kind of thing will only get worse with time, they know they have that right. So diversifying your career and having different sources of income is the best solution.

You need a lot of development and discipline to achieve this, and have the entrepreneurial mindset. “I think that person would pay me if I provided such a service.” And one tip I can give you is that if people ask you to do something, it’s a good indicator that you could charge for it.

For a long time I was asked if I would teach programming, for that I would be working in a company. So I started doing seminars with different classes. In 2018 people started asking me how to make money from Bitcoin, gold and stuff, and I could take a percentage as a commission, so I started doing that.

I had so much demand from whales that it became a business. And those are the opportunities that you need to look for and realize that it’s okay if you don’t necessarily have a job where you get a steady salary, look for the opportunities, they will always be available.

And if you’re really good at something, if you keep getting better, you realize that people would pay you to do things. And then you get to get the word out about it, learn about how to do your own marketing and stuff like that. The more things you can do for yourself, the more self-sovereign you are.

I am very happy that so many young people are becoming famous on YouTube, they are paid by Google, but they also sell merchandising. They do a lot of different things.

You need to find new ways to monetize whatever it is you know how to do well, and honestly, entrepreneurs find lots of ways to do that. But you have to work, you have to keep looking for these opportunities, and I think that’s the right way to live, instead of having no freedom and ending up depressed. or wanting to kill yourself because you don’t make any difference.

Going in that different direction, having a little more uncertainty but a lot more freedom is what I encourage everyone to explore.🇧🇷

See the full interview in the publication “Jimmy Song talks about bitcoin, sovereignty and altcoins in an exclusive interview“.

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