In this episode, Geoff & Steve interview Mark and Ian from FreeTalkLive about their first encounters with Bitcoin. The FreeTalkLive hosts have talked about alternative currencies since it started in 2002 and are proud to claim that they heard about Bitcoin in 2010 when it was 24 cents.
Topic #1: Early Interactions
Mark said one of their most memorable interactions was with Jeremy West in 2010 who they had lunch with and he offered to pay using Bitcoin. Mark said he was very skeptical about Bitcoin and had no idea it was going to become big. Funny enough they eventually decided to accept Bitcoin as a form of payment for their advertising shortly after.
Topic #2: Why Bitcoin Matters
Mark further shares how impressed he was upon making his first thousand USD by exchanging Bitcoin. He remembered bragging about it to Ian and his wife, but when he was asked if he kept some Bitcoins from his original transactions, he laughed. Mark explained that he was just like other early adopter as he invested in a Bitcoin wallet scam.
Further on, Mark claimed that due to mismanagement and lack of knowledge in the value of Bitcoin, 12% to 20% of Bitcoins are lost.
Topic #3: Future Development Of Bitcoin
Mark and Ian mentioned that the changes in the definition of the crypto from a mere easy payment option to what it is today is outstanding. The hosts also said that because of the fantastic developments in Bitcoin and other cryptos, it's clear that blockchain is the first form of digital life. They also believed that Bitcoin will outlast all of us which is exciting.
Mark and Ian further narrated the overall potential of Bitcoin and agreed that it is more productive to trade cryptocurrencies vs. stocks. It was also pointed out that its outstanding to think about bridging between different cryptocurrencies.