So yesterday I was airdropped a good chunk of change from an AI platform I enjoy using. It’s called Venice.ai and I have been a pro user for about half a year now because they have a great product.
The airdrop was a surprise, to say the least. When I first looked in the morning it wasn’t even listed on Coinmarketcap.com so I assumed it was worth nothing. When I checked again later that night its value was equivalent to a couple of months’ worth of my salary. As a Bitcoiner, I’m skeptical about the long-term prospects of altcoins, including Venice’s newly launched token, VVV. While I wish the platform continued success and hope its product remains exceptional, I’m not convinced that introducing a token will enhance its offerings. Maybe I’m wrong but most cryptocurrencies seem to enrich a small group of people and harm retail who get dumped on once a coin has been pumped.
Anyways, I did not believe it was real until I sold my VVV for dollars and Bitcoin as fast as I could. When I was able to get what I deem to be real money (bitcoin) it hit me wow this is actually for real. I much prefer to just buy bitcoin and never sell it to avoid capital gains, but since VVV will likely not be worth much in the coming years it made sense to sell and take the capital gains hit. Selling yesterday turned out to be a wise decision, as it has already saved me the equivalent of two weeks’ worth of my regular salary, considering the coin’s value dropped even further today.
I must say receiving a significant amount of money simply for being an early user of a platform feels unusual, and I’m still grappling with the implications. As a Bitcoiner, a part of me feels uneasy about selling my VVV coins, knowing that their value will most likely drop to zero with enough time. However, I remind myself that every trade involves two willing parties, and I’m simply selling to buyers who are eager to acquire them.
At the end of the day, I’m not going to turn down free money, and I’m grateful for the unexpected windfall. If Venice.ai’s VVV token succeeds and proves me wrong, I’ll be happy to see it thrive. However, my conviction in the importance of separating money and state remains unwavering. This airdrop, as generous as it was, felt like a stark reminder of the Cantillon effect — the unfair advantage that accrues to those closest to the source of newly minted money. While it’s nice to be on the receiving end for a change, I know that this phenomenon is ultimately a symptom of a broken system. Bitcoin, on the other hand, represents a fundamentally different paradigm. One that seeks to empower individuals, not enrich a select few. As much as I appreciate the benefits I’ve derived from this airdrop, my commitment to Bitcoin remains unshaken. I firmly believe that it’s the only cryptocurrency that can truly change the world for the better, and I’ll continue to advocate for its adoption, even if the siren song of shitcoins does everything in their power to tempt me.
There is no second best cryptocurrency. Study Bitcoin. Your future bloodline will thank you tremendously and remember your name for a long time if you do :)
1/29/25
Conor Jay Chepenik
