In 2008, during the financial tsunami in the United States, a seemingly marginal presidential candidate sowed the seeds of the Bitcoin movement we see today. Ron Paul, a Congressman from the Republican Party, was nominated by the Libertarian Party (note: the Libertarian Party is a branch of the Republican Party) to run for President. He advocated for Libertarianism and strongly criticized the Federal Reserve, pushing for an audit and impeachment of the Federal Reserve. Although he eventually withdrew from the race, he awakened a new generation’s reformist thoughts on monetary sovereignty. Ron Paul remains a representative figure of the Libertarian Party to this day, and his most significant influence has been inspiring the well-known Bitcoin influencer Isaac Miller. Before entering the world of Bitcoin, Miller had assisted Ron Paul’s presidential campaign, continuing the libertarian thought and becoming a steadfast believer in Bitcoin as an old OG.
Isaac Miller recently appeared on the Supply Shack program, discussing his views on Bitcoin, political economy, meme coins, and side projects like Ordinals. Below are the key points summarized. The entire original interview can be viewed on YouTube.
From Libertarianism to the Bitcoin Revolution
Isaac Miller’s encounter with Bitcoin began with curiosity. He admitted that he did not have a background in computer science or economics, yet he was captivated by Bitcoin’s story of wanting to reshape the history of money. It was during his support of Ron Paul’s presidential campaign that he began to view Bitcoin from a libertarian and political perspective, truly realizing the significance of Bitcoin’s emergence.
He stated that since joining Ron Paul’s presidential campaign in 2008, he began to question the operations of the Federal Reserve (which aligns with Trump’s stance). He felt that the FED was essentially a wolf in sheep’s clothing. When he inadvertently came across Bitcoin, he thought it was a golden arrow to counter the establishment. He emphasized that Bitcoin’s importance lies not only in its technological innovations but also in its unstoppable and unchangeable attributes, reigniting his passion for social reform.
The Close Relationship Between Bitcoin and Politics
Regarding the phenomenon of Bitcoin gradually entering mainstream politics, Miller expressed mixed feelings. Although more and more politicians are embracing Bitcoin and other cryptocurrencies, he does not believe there will be a significant difference between governments that support or oppose Bitcoin, as this force has become mainstream.
During the Ukraine-Russia war, Bitcoin was widely criticized. In Ukraine, people viewed Bitcoin negatively, believing that Russians used it for money laundering and purchasing weapons. On the other hand, billions of dollars were donated to Ukraine via Bitcoin. In the 2024 U.S. presidential election, Bitcoin policy has also become a focal point of discussion. He believes Bitcoin has transitioned from an innovative technology to an infrastructure akin to the internet and electricity.
Supporting Meme Coins, Cautioning Fans Against Obsession, and Buying Bitcoin
Aside from becoming a heavyweight influencer due to his support for Bitcoin, Miller is also well-known in the crypto space for having his own meme coin. Someone created a meme coin named after him on Pump.Fun, and the $Isaac Coin became a sensation. He even invested heavily to buy 10% of the supply to show his support. He admitted it was for fun, believing that meme coins should be entertaining. He also promised the community to support this project and would never sell. Once the market cap of this meme coin exceeded ten million dollars, he began to consider ethical responsibilities, reminding everyone that this is an entertainment-oriented meme coin project, and no one should invest their life savings. However, he suggested that money could be invested in Bitcoin. He does not deny the allure of meme coins and even appreciates the creativity and community dynamics demonstrated by meme coin culture, but he believes Bitcoin is the hardest asset.
Views on the Evolution of the Bitcoin Ecosystem and Ordinals
When asked about the internal divisions within the Bitcoin community, especially regarding Ordinals and the Bitcoin native token protocol, Miller believes that Bitcoin essentially only needs to do one thing well, which is to function as a solid and stable currency platform. Other chains, like Ethereum, can serve as playgrounds for human creativity, developing DAO and AI, among other more creative application scenarios. He thinks uses should be classified, stating that the free market will determine what can endure. Bitcoin only does one thing, but it does it exceptionally well.
He is always amazed by the evolution of Bitcoin. He never expected to hear someone say that one satoshi is rarer than another, or to swap an entire Bitcoin for a satoshi, but such things have indeed happened, surprising him. With the advent of Bitcoin Taproot, the capability to implement smart contracts and issue tokens on Bitcoin exists, so the question is, what else is needed? He believes the Bitcoin blockchain was not built for these things, but he must readjust his mindset.
It’s Definitely Not Too Late to Enter the Market
When asked if it’s too late to buy Bitcoin now, Miller firmly answered that it is not late at all. People may have missed the opportunity to acquire Bitcoin for just $100, but they have not missed the chance to jointly create an ecosystem around Bitcoin, leaving a legacy for themselves and future generations. He pointed out that Bitcoin’s value lies not only in its price but also in the system it establishes.
The Golden Age of Bitcoin is Approaching
At the end of the interview, Isaac Miller expressed regret over many today who view cryptocurrencies merely as gambling. He pointed out that while the trend of meme coins has attracted countless newcomers, true wealth and freedom require a long-term vision and deep engagement. He stated that Bitcoin is not a lottery ticket but a revolution of technology and freedom. He emphasized that we are still in the early stages, where the only barriers are mindset and vision, not just price.
Risk Warning
Investing in cryptocurrencies carries a high level of risk, and their prices can be highly volatile. You may lose your entire principal. Please carefully assess the risks.