There’s a old man that works at my local grocery store. He’s pushing 80, if he’s not already there. He mainly collects the carts and talks.
One day, I’m loading groceries into my truck and he asks me, “so what do you know about this #Bitcoin stuff?” (1/n)
I responded that I knew just enough to be dangerous and asked what he was struggling with…. His main concern was that the fees were too high. I didn’t think that he was talking about transaction fees as much as the on-ramp conversion fees to buy #bitcoin. I then went through how adoption and competition would drive down those fees, etc… and how I used to pay $15 a trade on etrade, then it went to 10, then 7, then 5, now zero…. I thought I was making good headway and using valid arguments. (2/n)
He responds that an 8-9% transaction fee was too high. I agreed.
He followed it up with that he doesn’t understand why anyone would use the #bitcoin machine at the grocery store when they could roll their own coins and take them to the bank for free. (3/n)
I was confused and politely ended the conversation…. Then it dawned on me that old boy had conflated #bitcoin and the coinstar machine that counts your loose change.
We are still so early.
(4/4)
