The Challenges Of Explaining Crypto To Old Folks
First off. Happy Thanksgiving Everyone!
I'm sure I'm not the only one who will have this conversation today.
"So you're buying computer money?"
--Well yes, sort of. Investing more like.
"And you make it with your computer for free?"
--Well no. Actually I had to buy a lot of costly equipment and its costs electricity to run.
"Its just 1s and 0s in a computer!"
--Actually only 8% of the world's currency is physical. We are already trading 1s and 0s.
"But this computer money isn't backed by anything! It has no value."
--And neither does the US Dollar. But we assign it value.
"What if you get hacked and someone takes all your fake money?"
--If you do any online banking you are just as susceptible to being hacked.
--Plus all your money in the bank is stored in a computer. It can be hacked even if you aren't.
"My relative invested in silver certificates in 1964 and ended up loosing a lot of money."
--That was 53 years ago. And completely different.
(seriously someone said this to me)
And my favorite...
"This is just a fad like Beanie Babies and Dutch Tulips."
--I'm not saying you have to invest just look into it.
The sad part is that most of these people are pretty intelligent. And have been successful under the old fiat system.
If you ask them about the Federal Reserve they will tell you its needs to be audited/ended.
Or the central banks? And they will tell you all banks are crooks.
Or inflation? Stuff costs more than it used to!
They know instinctively that the old fiat system is at the end of its lifecycle.
But most of them will not accept that any crypto currency will be the solution.
Even worse than that they don't want to think about what comes next. What the real solution will be.
On the bright side most of them have faith in gold and silver so they will not be completely hung out to dry.
What do you think?
- What are some of your real world conversations with older generations about crypto?
- What are some talking points that would get them in touch with this emerging technology?
- How would you make sense of this world to a generation who remembers the Great Depression?
- Let me know in the comments.
Thanks for reading
Peace, HM
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Thanks homie!
I get some of the same concerns from people my age and younger. It's tough being the crusader.
Whats that phrase? "You can lead a horse to water, but you can't make him drink."
I'll be 40 next year. Not a youngster but not a senior citizen by any means.
Same here. Friends and Family between 30 and 40. Heard about BTC but don't believe in it not yet to invest in it. I don't even bother bringing BTC in the conversation and sure will not try to educate people about it. They will wake up when its too late.
I am sometimes hesitant about telling people about it. Because there are ways to lose money. I always use the disclaimer. "Only invest what you can afford to lose." & "Do your own research." Don't want anybody pissed at me because they send their coins to the wrong address and lost them.
Not realizing, of course, that most money is just a record in a bank or government ledger & only a small percentage circulate in the form of notes or coins.
Its worse than that even. Google "fractional reserve banking" Central banks literally make money out of thin air. But explaining this to otherwise "smart" people is proving harder than I thought.
There will come a time soon when we won't even think of Bitcoin in terms of dollars.
Thanks for the comment homie.
Yeah. Now it's just quantitative easing where money is indirectly airdropped through financial institutions. Soon, it will just become 'helicopter money' given directly to the people!
Maybe the Fed will steal one from the crypto playbook and fork the US dollar into the New US Dollar. Airdropped directly to your EBT card.
I was nearly done getting through the fundamentals at thanksgiving dinner, when i look up and see a table full of blank stares... all the way down the rabbit hole, only to get every canned argument in the book! lol
HAHAHAHAH I knew I wasn't the only one! Hey it coulda been worse. You could have pissed them off with politics. Good on you for shaking it up this year!
Imma give you a follow for the American Silver Eagle pic.
Have you checked out #steemsilvergold community?
Lol yes discussions can get a little too 'heated'! i havent heard of #steemsilvergold though, ill check em out. followed back atcha mate
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