How to Talk to Your Loved Ones About Bitcoin When They Think It’s a Scam
Note: This is not financial advice. You should consult your accountant or your financial advisor for any decisions you make.
Some people commented a lot of bad things, various opinions, and obviously it was a touchy subject that struck a nerve with a lot of people.
A piece of useful advice was to give that person this discussion of Michael Saylor and Saifedean Ammous on the Bitcoin Standard Podcast.
From that search I also found Hope.com which has some good introductory articles and videos about Bitcoin. Namely, just to highlight a few:
- Introduction to Bitcoin Video by Andreas Antonopoulos
- Article, 7 Misconceptions about Bitcoin
- Article, Why Bitcoin is not a Ponzi Scheme: Point by Point
And of course there’s a wealth of information on there in podcasts, videos and interviews. I’ll try to go through some of it but I simply don’t have the time.
Anyway, for loved ones that are actually open minded and really want to argue logical points with you, this is the material that might help you make your case. If they actually want to learn you can show them some of these videos, Michael Saylor has some excellent ones it seems, and then sit down and explain to them why you want to invest in Bitcoin and why you believe this is a solid investment and how it might become a paradigm shift. The main video on hope.com “We are still early on Bitcoin,” is short enough to sit through for even the most bull-headed of people.
Now, as for convincing people that don’t want to be convinced?
My opinion is to dismiss their opinions. Just let it wash over you. It’s not their life, it’s not their money (better not be) and it’s certainly not their business.
I think that people who treat Bitcoin as a religion are on the other end of that same spectrum, and that they’re morons. Bitcoin is just code, and yes it might transform the world, I believe that too. And I do try to educate people through this website and my bitcoin education service. But do I evangelize Bitcoin, getting into arguments?
No.
I like the attitude Seifedean Ammous has, that snarky “You’ll see eventually that you’re missing out. I don’t care what you do.” Now, even he is a hardcore bitcoiner, I still think that is too extreme.
As for loved ones, that behaviour described in the reddit post is simply toxic. Yes, the father has seen some shit in his life, and his wisdom is appreciated. But just because he doesn’t understand something doesn’t mean that he can crap all over his son’s excitement about it. That’s toxic behaviour, and my opinion is that you should remove those people from your life, even if it’s close family. Would that same father support that son’s entrepreneur career? Would he cheer on as he tried to make a product, figure out an invention, start a business on his own?
My guess is no.
So fuck that.
And before you start thinking I’m bitter about my own father or something like that, no, on the contrary. We’re a family of entrepreneurs, and we support each other’s ideas and endeavours. That’s why I’m so strict about this, because I’ve seen the complete opposite. I support my loved ones and genuinely cheer on their ideas and their attempts at investing, business, art. And I like to think that they support me too.
Maybe this is why it struck a chord, the reddit post has 200+ comments in a single day. It’s a shame a lot of people are getting treated like this, and maybe this is a great opportunity to make some changes in your life. Bitter relatives who have wasted their own lives being consumer drones don’t want you to succeed. Find friends, girlfriends, boyfriends who actually want to see you succeed. They don’t have to play an active part, but at least they should support you.
