Thursday, May 23, 2013

The Latest on My Very Informal Bitcoin Survey

Two bartenders over the last two days at bars in SF said they had never heard of Bitcoin, when I asked them. A third bartender has a friend of a friend that mines bitcoins.

I asked two gals at a bar in SF. One of the gals wasn't familiar with bitcoins, but the other had done some work for a Bitcoin company, a name that most in the industry would recognize. She said she had a hard time getting paid from the company, for PR work she did, and was only paid after threatening to go public.

She doesn't think Bitcoin will succeed. Her view is that money that goes into BTC is a black hole and the government will stop it.

As the survey currently stands:

3 FedEx office employees: 2 never heard of Bitcoin.  1 has and wants to get into trading them.

3 Bartenders: 2 never heard of Bitcoin, 1 has and has a friend of a friend who mines bitcoins.

2 Gals at a bar. 1 never heard of Bitcoin. 1Worked for a Bitcoin company and had trouble getting and doesn't think BItcoin will survive.

Current tally:

5 in SF have never heard of Bitcoin, 3 have.

Given that San Francisco/Silicon Valley is at the heart of crypto currencies, it is not surprising that those aware of Bitcoin have heard of it as a result of someone working in the sector or working in the sector themselves. Broader knowledge of Bitcoin doesn't seem to be out there. During the Bitcoin 2013 conference,  Tuur Demeester  delivered a speech and displayed a chart of where he believed adoption/awareness of Bitcoin was at present. He believed, probably correctly, it was just at the early stage. Innovators in the sector are certainly aware of what they are working on, but it doesn't appear to go much beyond that. In his view, the concept is just starting to reach opinion leaders, that is, what Hayek would call second hand dealers in ideas. The general public still doesn't have a clue.


  1. Were you staying at the St. Francis on Union Square? I saw a guy in the lobby that I thought looked like you, but his luggage didn't have the zebra print that you recently posted, so I didn't say anything....just curious.

    1. I some times stop in there for a drink, but I wouldn't have been staying there. Thus, no luggage.

    2. Cool, thanks for the reply. I stay there weekly (or at the JW) and would have kicked myself if I missed the opportunity to participate in some classic hero-worship. Cheers.

    3. Tom please email me. Let's have a drink the next time you are in town.

  2. Nobody I have asked (5 total) has ever heard of it here in south central Indiana. 2 massage therapists, 2 electrical engineers and their boss.

  3. What is the point of these informal surveys? They prove squat.