31 Mar '13, 11am

The Bitcoin and the Taxi driver

Whats this about the taxi driver ? Back in 2007 I was “investing” in the stock market. The global prices of potash were on the rise and a local stock was climbing up like there was no tomorrow. I was in, I was in deep. And then it happened, my taxi drive to the airport. We had a conversation with the driver on the way, he told me how he went to the bank to deposit around $3000 in cash and was dumb struck, when the bank asked him a commission. “I am giving them money and they want me to pay for it ?” (it does sound kind of crazy..). So he said he is going to invest in the same stock. Why ? Because it has been going up. Needless to say it crashed bad a short time after, hope he didn’t make the buy. Fast forward to today Just finished helping a friend launch his Bitcoin business, he allows people to buy Bitcoins in Israel for shekel. And during some backend improvement sessio...

Full article: http://blog.itlater.com/the-bitcoin-and-the-taxi-driver/

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