I had the strangest meeting yesterday. Listen, it’s worth it - I have some points for you to think about.

This guy bought some Bitcoin in early 2017 right before the end of Blocksize Wars and the origin of Bitcoin Cash (BCH).

So he had around 6 million #sats left sitting on a exchange.

Point 1:

He bought them for like $90. It’s now worth over $2.200.

How much is the same ammount of BCH he got in the fork event worth? Fuckin’ $13!!! Haha!

While his BTC is up 2440% he also lost 86% of value in BCH.

No reason to think that any of your #shitcoin would fare better than this. There is simply no second best.

Point 2: While we were moving more than $2k worth of Bitcoin he didn’t mind to pay ~$8 in fees. Still he had to wait for around 10hrs for a transaction confirmation. I realized that this high-transaction enviroment really hurts the adoption. I know. Lightning. But it just doesn’t help when mainchain is choked full in this manner. Really doesn’t feel like money of tommorow.

I tried to portrait it as a withdrawal of physical gold from a custodian and lightning being a cash in a wallet but not sure if it convinced him.

Remember that you and the universe want money with minimal transcation cost and lag. I don’t know the solution yet.

Point 3:

We’re still so early. Even though he was introduced to Bitcoin in 2017, he doesn’t know shit about it. That was the reason I was there, to provide my expertise in getting his coins off exchange. He doesn’t care or know anything about wallets, seeds, seed protection, lightning,… nothing. Only thing that made him interested? Number go up and he wants to cash out.

Interesting meeting at least.

#bitcoin #shitcoin #investment #exchange #security #seed #grownostr #cash #btc #bch