I really didn't think I was going to write a post today because I didn't know what to write about..but a couple minutes ago I had a conversation about crypto....and it left me feeling partly amused, and mostly irritated. Yay for posting inspiration!
I am reminded (again) that most people truly have no idea about crypto-currency. In my mind we have come so far since I started buying crypto in July of last year, but it seems to me we still have a long way to go.
It was a pretty quick conversation, but it just proved how much misconception there is among the general public right now. In the span of 10 minutes they said:
- That the electricity consumption used to mine for Bitcoin will destroy the planet.
- That most transactions having to do with crypto have to do with the black market.
They actually used the words Silk Road to which I said "You realize that the Silk Road was shut down in 2014?" They then said "Oh but there's still the dark web." To which I replied "Do you know what is mainly used as currency in illegal activities? Dollars. Does that make you stop wanting to use them?" I was also kind of offended that they said this because I have never even gotten so much as a parking ticket! They think that I would be interested in something that was primarily used in criminal activity?
Continuing on...
- There are "thousands" of cryptocurrencies. Having so many makes the whole thing pointless. (Obviously has no idea about why blockchain tech is revolutionary and that they are all used for different things)
- Its a fad at the end of its cycle like Beanie Babies (this is when I started to get irritated, because its obvious they saw the John Oliver segment from Sunday's show (you can watch it here) but they weren't paying attention to the positive or educational part....
- And the last one that really blew me away...that no one can afford to buy a Bitcoin except the already rich. Yep. You read that right, they had no idea that you could buy as little (or as much) as you want.
This person was actively trying to dispute everything I said, but at the same time had no idea that you could buy parts of a Bitcoin. What could I even say after that?
I tried my best to talk about the basics. Then I tried to explain the difference between Bitcoin and Ethereum. I also tried to explain why blockchain tech is revolutionary, but by that point it seemed like they were checked out of the conversation, so I ended it.. (politely of course.) I was going to show them Steemit and how cool it is, but I figured "Whats the point?!"
We have a long way to go....I read somewhere that 30% of all Millennials will buy crypto this year, (You can read that article here.) but after the conversation I just had I am starting to doubt that. Maybe I shouldn't engage in these types of conversations anymore. I could say "I will have to agree to disagree" and save myself the frustration... but hey, at least I had something to post on Steemit tonight. ;)
So, what is the biggest misconception you have heard regarding cryptocurrency when talking to people you know? Do you actively try to convince people into it (like me) or do you figure "their loss!" and move on? I would love to hear from you in the comments below. I am looking forward to connecting with you! Steem on!
I personally only talk to a few people about crypto only because I think it could ease some of their financial positions. I hope you don't mind, but I referenced this post in my last one. I put a link here in it, not that there is a great chance it will send a flood of people this way, lol.
Maybe in one of your upcoming posts you could write up an imaginary conversation you would have with someone to convince them why crypto and block chain is all that and a bag of chips. I am curious what you would say.
That sounds like a good idea for a post :) Ill have to think about that one! I will check out your post in a sec!
Awesome. I can't wait to see it, especially given how it looks like the floor has been knocked out from under the crypto market for now. I swear the timing of all these proclamations by government, corporations and "respected" businessmen saying crypto is done is probably so they can buy in cheap on the down low, hahahaha.
Haha no-coiners... I try to use that as often as I can. I have actually had a problem in recent months being able to even relate to them. It is a problem I am aware of. I think once you really start to understand crypto it changes the way you think about the world and then it creates two types of people, those with coins and those without.
I spent so much time from 2013 to 2015 trying to tell everyone about crypto but it was just something they didn't wanna understand. John Oliver did a really good job with his description of cryptocurrencies:
It is a hard topic for most to wrap their heads around. Now a lot of the people I tried to talk to about in in 2013-2015 are mad I didn't MAKE them invest... Then I also had people calling me when it was around 20k per bitcoin wanting to know how to invest... So it is a very difficult task to try and help people understand and to help clear up misconceptions. I will spend the time with people if they are seriously interested but you can only lead a horse to water.
I wish you would have told me to invest in 2013! Ugh! The same people who are saying "I wish I would have bought Bitcoin in 2013!" are still the ones that arent buying crypto now, ironically... (at least that I know anyway) They act like theyve missed the chance....
Yeah but would you have listened to me? I've read in some of your posts about how you would sell a lot of stuff on Ebay. I come from the same background but with vinyl records. I think it was the understanding of being able to "flip" things for profit that helped me get crypto maybe quicker than others and I imagine it was similar for you.
In 2013 when BTC was around $100 most everyone I talked to that showed a little interest they would always say that they missed the chance. That it was so expense now... I tried to tell them how cheap it still was. I told almost everyone I knew and I think only 3 decided to buy any.
When you want to talk about cryptocurrency like bitcoin, they take it in a negative way. They think it's way to do illegal things.
But people who are curious about technology and want to know the truth, you will figure it out on their own. When those people realize its potentiality, you can't but adapt it.
Very good post. It sounds like many of the conversations I have with people about crypto. Many don't even want to listen beceause they don't understand and don't care to. I can have a convo about stocks and their market and even if a person knows nothing they will show at least some interest. Not so with crypto and blockchain. I still try, just as I've been doing since 2013. Maybe one in fifty actually catch the bug and thats still a win in my book. Thanks for sharing a good topic.
I wish I would have started buying crypto in 2013! I know that its hard since we are in a bear market right now but once the bulls are back we will start to see interest again!
@emmyem84 This is interesting, I think most ppl have no idea about the potential of cryptocurrencies and blockchain technology. That being said, I think that in 2018/2019 when cryptocurrencies and blockchain tech start going mainstream and showing usecases, then every1 will flood in. Sadly, I only talk to people online in Discord, Steemit and Telegram communities about crypto and I'm sure they feel the same way bc only a few ppl have taken the time to invest in cryptos and altcoins, make accounts on exchanges other than Coinbase, actually watch Youtube videos by DataDash, go on websites, read whitepapers interact with the online communities. I am grateful that we have these online communities and we are early in the game. I still try to talk with friends and family about it but ... If our friends don't listen to us, then we can still say "Oh, you know you are crying now that I made a ton of money in crypto, but don't say I didn't tell you so back then". I'm a college student and even my parents are very skeptical of cryptocurrencies and think its a fad and I'm just a young, dumb college kid who should find an internship (Which i probably still should :D) instead of wasting time researching and investing in cryptocurrencies. What bugs me the most is that my dad has this view that "Blockchain will succeed but cryptocurrencies are a fad", and even though there are alot of shitcoins, There are a lot of good cryptocurrency projects out there (Read my posts on some!) and I really think you can't have one without the other. They are complimentary to each other, especially alot of ERC-20 utility tokens that are inseperable from the Ethereum Blockchain. End Rant. Cheers :D
Yeah, mainly I try to talk to family and friends about it because I want them to get in on it too! All you can do is try to tell them about it, at some point they will realize you were right and then they cant blame you for them not getting involved earlier :)
Very interesting post! Many people are slightly educated on the crypto space. It is an up and coming market as well as it has/some of them have real use cases in this world. Hell, some of them are already being used in the real world today. Many people just listen to the media and I often find that the media has negative comments about crypto. Cheers, happy trading!
To me the funniest misconception people have is that many people think nobody has ever taken profit or nobody has ever seen any "real money" come from crypto.
Basically people think that we all bought Bitcoin, and have all this paper wealth but that nobody has ever cashed out.
To me that's incredibly silly. You really think of the thousands upon thousands of people who have bought Bitcoin and seen the price rise, nobody has been able to cashout and send some of that money to their bank account?
On some nocoiner investing forums and stuff I've had people ask me to provide screenshots as proof that Coinbase for example has actually sent me real US Dollars.
Thats funny because I have had people infer that its "not real" too. My mother said I should sell some "just to prove that its real".... I havent sold anything yet and I am not going to for quite some time (especially if the market continues like this ...lol)
excellent post.
my dear friend @emmyem84..
thank you for sharing your post..
Resteemed by @resteembot! Good Luck!
Curious? Read @resteembot's introduction post
Check out the great posts I already resteemed.
ResteemBot's Maker is Looking for Work
Congratulations you got resteemed!
Resteem your Posts to 3600+ Followers — just send 0.05 SBD or STEEM to @yougotresteemed with link in memo (you also got a chance of receive a random upvote)!
For daily bloggers we offer a Resteem subscription including at least one Resteem a day + the chance of daily upvotes!
For more infos read our Vision & Rules and also get you your free Resteem!
Congratulation you also got a random upvote by @yougotresteemed!
Good post!!
Nice
friends patience , many people do not have any idea of this topic, little by little ignorance will diminish , I am new in this platform and there are still many things that I do not get even and that is what it tries to read all What I can of the subject, we try to educate people so that every time we are more here. Greetings