I don't usually frequent the barber shop because I've been my own barber for several years now. I can trim my hair nearly as well as a professional. My haircut is quite simple, which allows me to manage it myself. However, occasionally, when I'm feeling lazy or want to ensure I look my best, I visit a professional.
The current barber I go to happens to be a Jehovah's Witness. I have no issues with that; I'm not religious, and I respect everyone's beliefs. This barber is very open and enjoys discussing various topics, including business. He always tries to gather as much information as possible from each client on any subject.
I typically don't trust people who pry too much because they often cross boundaries by asking overly personal questions. This time, however, our conversation remained fairly general until he posed the question that had been on his mind: "What do you do for a living?" When he inquired about my work, I replied, "What work?" And this gave him the opportunity to ask the right question, to which I responded, "crypto."
His immediate reaction was, "Oh, you mean Bitcoin..." My reply was a mix of "yes" and "no." By "yes," I meant that I'm involved in cryptocurrency, but not exclusively Bitcoin. I don't even hold a single satoshi in any of my wallets. However, indirectly, I'm connected to Bitcoin because it's where the entire crypto journey began. We all owe our crypto experiences to Bitcoin and Satoshi Nakamoto.
Now that our conversation had shifted towards crypto, I asked him if he had any interest in the topic, what he knew about BTC, whether he owned any, and whether he'd consider getting into crypto. He confessed that he's not a "coiner" and isn't investing in Bitcoin because it isn't tangible. He showed me the cash he had earned from his shop and argued that physical banknotes can't just vanish into thin air and aren't subject to volatility.
That's when my interest was piqued, and I embarked on an impromptu Bitcoin and Web3 education mission. First and foremost, I explained that when we talk about Bitcoin, we can discuss both the coins and the blockchain. As most of us know, the Bitcoin blockchain is a decentralized, immutable system, and no holder's coins can simply disappear.
To me, Bitcoin, Hive, or any cryptocurrency built on a decentralized blockchain is "more tangible" than fiat money. But what's wrong with something intangible having value?
I provided him with a few examples of intangible things he values highly and explained how these should help him grasp why Bitcoin is so crucial in today's world. I also shed light on why the media is deliberately undermining Bitcoin, deterring the masses from crypto.
Facebook isn't tangible either, yet my barber maintains an active Facebook account. He posts regularly, takes great care of his online image, and is deeply affected if anything or anyone tarnishes his image on Facebook. A significant part of his life would crumble if he woke up one day to find his Facebook account deleted. But even then, his "alter ego" on Facebook doesn't belong to him.
What many fail to grasp about Facebook is that they are merely users of their accounts, not owners. There are countless examples of intangible yet highly valuable entities, such as databases and media manipulation, among others.
As our current fiat currencies face devaluation or significant loss of purchasing power, many individuals, like my barber, will recognize the value of crypto and the foundation that blockchain technology is laying for future economies. Just as with NFTs, the initial hype surrounding the metaverse may have subsided, but the metaverse is set to become a multi-trillion-dollar economic powerhouse.
The so-called offices, businesses, and avatars we'll use in the metaverse(s) of the decades to come may not be tangible, but they will profoundly influence our "tangible" lives. I advocate for diversity; I don't believe in going to extremes, whether that means going fully digital or clinging to the past. As I mentioned in one of my recent posts, I believe in focusing on freedom of choice and diversification. Therefore, holding a bit of crypto in self-custody wouldn't hurt anyone, not even my barber.
Thanks for your attention,
Adrian