I earlier posted about the first day (I ran a Bitcoin workshop last night...we are SO EARLY). Basically, I set up a 3 day Bitcoin workshop to promote and get feedback on my book Bitcoin, Hands-On: 28 “learn by doing” exercises to master the basics of managing your own Bitcoin, including wallets, transactions, and self custody
Here's a few thoughts.
- Those attendees who had ANY exposure whatsoever to ANY crypto were far, far more interested and committed. This exposure was mostly through family members. One attendee had a son who is involved with some shitcoin project. Another attendee was told by a close family member that he should be at least 5% in "crypto" (he was told bitcoin and eth).
- One attendee had bought a little bit of bitcoin on Robinhood, years ago. Now VERY interested in learning more, because of constant rise in this particular chunk of bitcoin.
- I thought that after a little 15 minute slideshow on bitcoin, we'd start working our way through the exercises. I had told them how to prepare to buy a little bit of bitcoin. I was assuming they'd actually do that, and then I'd help with issues in Sparrow (which is the tool I'm using in my book), and clarify concepts, terminology, etc. Well, that wasn't how it worked out. Many of the people who came the first day (when I extended my small slide-show to the whole 1.5 hours, because nobody was ready to start the exercises) didn't come the second day.
- On the second day, I did the slide show again for some people who hadn't been the first day. Then 2 people started working their way through the exercises (all getting stuck on various issues with the exchanges). A few others stuck around to chat with a bitcoin friend who had come.
- The third day just a few came. Final tally - 3 people made it through in the end to getting a hot wallet set up in Sparrow, with tiny amounts of bitcoin.
Here's my takeaway, overall.
- Your average person, even if interested in bitcoin, is still VERY hesitant with self custody. I emphasized "tiny, low-risk amounts of bitcoin" a lot. And you can do the whole set of exercises with 25 USD, and end up with most of the 25 USD (depending on fees). Still, not a ton of takers.
- Many people have big concerns about inflation and money printing. But this may be "necessary but not sufficient", in terms of going the next step, to active interest in bitcoin.
- When I started getting interested in bitcoin, I "went down the rabbit hole". Lots of reading, lots of podcasts. These people haven't done that. To spark real interest in bitcoin, you might need to either "go down the rabbit hole", or have personal experiences (like living in a very high inflation country). (But then what inspires people to actually go down the rabbit hole? Hmm...)
- Doing a bit of zapping sats back and forth in CoinOS was fun for people, but I'm not sure it actually contributes anything to understanding, or interest. It's not self custodial, and also I don't see it conveying important concepts. Though maybe, if I frame it right, I could make it more useful.