Should I feel bad. Did I try hard enough?
I have a have a couple friends I have been trying to get into buying a little crypto for several years, but I haven't really pushed them. I have recommended that they check it out, but I haven't forwarded them a lot of material - is it my fault they haven't bought?
Money is this funny area that even with friends, it is hard to talk about openly. Yet, we do want our friend to do well - at least I do. I have never suggested to someone to actually buy, but I have talked about many of the pros and cons of crypto and why they should consider it.
Today with a colleague who has bought, I was talking about the unnatural suppression of Bitcoin in the media and he was saying that part of the problem is that something like Tesla has more media attraction because it can be visualized - there is the idr of electric, the car itself and of course Elon Musk. He was saying how it is "real" whereas Bitcoin is not.
What is real, when Toyota makes more cars and money than Tesla, yet Tesla is valued more highly? What is real when the value of the company will swing on a Musk Twet?
Real is an interesting concept for investing, since the majority of wealth I this world is not attached to anything real at all. @revisesociology was talking about how little physical gold there is in the world, something that is very real and highly valued - but the value of all that gold combined is a tiny sliver of the actual wealth in the world.
Gold is only valuable when it is physically held, gold owned on paper is not owned at all. Like crypto keys. What is very interesting is that it is because of the ownership model, that Bitcoin has value at all, because that wallet address makes it "real" by making sure that only the person with the key can access it.
This is hard to visualize for most people, it is far easier to just say, crypto doesn't exist, it is a scam.
While I might feel a little bad about not assisting some people more, I wonder if all those people who convinced their friends Bitcoin is a scam feel bad. For years, I have heard all the reasons why it is and when in a group and someone asks me, there is always someone who will say, don't be crazy. of that person has a little authority because they are technical, the question gets retracted.
It is funny how so many technical people don't actually understand how it works, perhaps they should read a little economics also. Do they feel bad about the advice they have given based on their own sentiment? Do the people who missed out on the opportunity feel bad for listening?
I don't give advice about where people should buy or sell, but I do try to help people build some understanding in this area, instead of listening to only the FUD that most people spread, based on very little. It is interesting how many 3 year old articles on Bitcoin get sent to me, as if they are valid.
In any new industry, there is going to be more scared people than supporters, which means there will be more against than for it. People don't like new, they like familiar and understandable and if they can't grasp the concept, they will feel stupid but not want to admit their lack of understanding, so will speak with authority against it.
Every new industry faces this dilemma, until the naysayers get turned on by the very people they influenced in the past. How much opportunity can a person miss out on before they syop listening to the "authority"?
I would predict that currently, there are more people who have been influenced away from Bitcoin by their friends than who have been influenced into it. So many curious people asking questions, so many stopped in their tracks by a well intentioned ftiend speaking out of a lack of knowledge.
How do you feel when you have missed an opportunity for some gains, how do you think people will feel 5 years from now when they realise they have missed the birth of an industry?
Crypto people like to talk about how long they have been in the game and how they have ttued to talk to people about it for years but have been seen as crazy.
I wonder, when bitcoin and crypto are dominating the news, how many of the naysayers are going to say, "I have been negative on Bitcoin since 2013 and have turned dozens of people away from investing into it"?
I imagine they will stay quite silent.
I wonder how they will feel when they are forced to buy their first crypto.
[ Gen1: Hive ]
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