What do your family and friends think about crypto now?
I’ve never been a crypto evangelist or told people that they needed to buy crypto because I think at the end of the day l, people need to be responsible for themselves. I have always insist that cryptocurrency would play an important role in shaping the future, whether it be bitcoin itself, or private blockchain changing the ways companies and governments function. My guess was always that bitcoin would stick around, that smaller coins would as well but be nowhere near as prevent as bitcoin and eth and that corporate coins and national digital currencies will come to compete soon.
My parents never really argued with me but they thought I was just exaggerating. For them, nothing is certain, and yet they seem very slow to admit that USD may not be worth so much in the future. Still, they seemed really happy that someone who hated the stock market for so many years was finally investing in something and that crypto taught me how market trends work (even if crypto is like other assets on speed).
Since corona started though it’s been “You were right about everything. This whole society needs to change or it’s going to collapse, you may be right about crypto too.”
I still have one friend who calls crypto “an entirely speculative asset”. He sees no inherent value in it whatsoever. It’s a shame too because he’s someone who would really enjoy hive, but the fact that it’s crypto really turns him off.
He keeps telling me to sell. I keep telling him, once the cycle looks exhausted. He rolls his eyes but he’s also rooting for me.
A year ago, my brother started to ask me questions about bitcoin and crypto, mostly how it worked and what influenced the price and what different coins did. That made me happy. I told him it might be good to put a little bit every month into bitcoin. At the time it was 5k. I didn’t have much to invest but I put as much as I could into btc at that time.
He was still scared because it was so low but then he saw it go to 8k and wanted to open a coinbase account. He finally got around to it at 10k and then stressed about it until it went up to 14 or 16k and finally bought in. The. He sold at 23k, hoping to buy back lower.
At least he didn’t buy high and sell low...
Pexels
He’s been playing short term trades and not really investing and he made a few hundred dollars. I keep telling him that he’s better off just dollar cost averaging in because at some point he’s going to buy before a crash and then get stuck in his position, and he knows nothing about market trends so it’s all just gambling.
When bitcoin broke 30k my mom wanted in. She had never been against it but when she watched me 10x my savings, she realized it’s not a bad investment. A little late, but you know.
She still had a snails reflexes though. Whenever it dips she says “I’ll buy some tomorrow” and then waits a week and the price is up 20% or more. It’s happened 3 times already. And after all is said and done, she is just dipping her toes in.
“I bought .2 ETH!” Haha it’s cute.
I can’t help but thinking “coulda bought 2 ETH for that last year, but I keep my mouth shut. She’s a hodler so if she can stomach the drops, she’ll hodl through the next cycle.
It’s a bit sad that I can’t take them on the Life-changing-gains train with me, but they didn’t want to buy back then, so all I can do is send them presents every once in a while.
My father has the attitude “I’m old, you worry about the future”. Wish he’d stop watching such depressing news then.
But now my whole family comes to me for financial advice, which is hilarious because none of them took me seriously until I 10x’ed.
It wasn’t crypto shilling that they didn’t take seriously, they just never expected me to understand markets better than they do, which was surprisingly easy. Here I was, thinking they knew what they were doing for their investing...meanwhile they were just listening to stock brokers who were cheating them....
Oh well
So what’s the attitude among your family and friends towards crypto? Has it changed?
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I'm the only one in the family that really puts conscious effort to learn crypto and traditional investing. I tried to tell them about it but nope. There's just no pushing through those old traditions of investing which didn't work out for the next gen of the family. I'm still fortunate to live in a position where I can access info to know what's better. I'll work my way on carrying some of the members that I have hope to be at least interested in the money.
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Well, at least you are onboard. Maybe you can compensate for the whole family.
This reminds me, I should send some btc to my mom. Just a little bit. She’ll be happy to see her crypto balance grow while it grows.
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That's not actually a bad idea at all. You just gave me a gift idea due on a future date. :D
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Two years ago I was talking to my friends about crypto and most of them paid me no attention. The few that dappled into crypto lost interest almost instantly due to its complications. However, fast forward to late last year, everyone is enthusiastic about crypto. All my friends have crypto wallets on their phones and they keep coming to me for crypto advise.
My family knows I am heavily invested in crypto. It is my bread and butter and they have no problem with it as long as it pays my bills.
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That’s pretty cool, nice to be the expert, that could be a real asset actually. Sadly most of my friends are still not interested or don’t talk about it.
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They will come around. It is hard to ignore at this point
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As you may know, I've been out for service since last year so I've not been able to go home despite the whole pandemic that hit hard from the first week of my service year.
With that in mind, l still don't know what any of my family members will think when they realise that I'm cashless at the moment all in the name of getting involved with crypto which is definitely outside the traditional mode of investments that they know.
I will be going home in two weeks time after my service and l will probably seat at home with my gadgets most of the time while Looking for employment opportunities within and outside the country. I will also be nailing my Crypto involvement hard so, they would probably be seeing me as a bum 🤣🤣. They won't say it out because they know that l'm always a serious minded person but l'm still not sure of what their thoughts would be able this cryptoverse.
As for my younger brother who is still in University, he knows about Crypto and he is trading in it with a very mini amount. He is also rooting for me so, that's enough motivation for me.
I will probably write about their reaction whenever l go home🤣
Looking forward to hearing about it! Eventually they won't see you as a bum, don't worry 😆. Just don't waste all your money on shitcoins!
I have only invested money that I didn't have anything better to do with, because I had enough to live and because it wasn't enough to make a huge difference in my life. It's good to get into this stuff when you are young cause you have lots of time to recover if things don't go well 😆. But o think with bitcoin ether and hive they'll go well, except for the people who buy at 200k and sell at 100k 🤦♂️
Im all for "do your own research" i'm not the type that keeps blabbing. If people thinks bitcoin is not a dependable asset, then they should let it be, we're in a digital age, the internet doesn't just inform you, it educates you as well. Im always happy to talk to people who believe in the future of crypto, whether a few people feels otherwise its their cause to know that the left a fruitful venture. Im buying LOTUS by the way, i'll talk about it tomorrow.
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Yeah, I have also gotten over trying to push people towards doing it my way. Everyone can make their own decisions. Let them think I'm crazy for a few years, and then act surprised when my life is easier.
i told my father about btc when it was 50$ I was young, he never listened we never bought any. I remained silent till it reached 20k, i told him again maybe it's time to buy. He said "it's too expensive now," like we are supposed to buy 1 whole :P
Then it reached 40k, He came and told me, wow i would have doubled my money now..He bugged me a couple of days but never invested. I also told him about ava that at this moment was 70-80 cents each. He was reluctant. Then ava went to 1.80$-1.90$. He would have more than doubled his money.
So i will just remain silent :P
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From the older generations perspective it's all gambling. They worked hard to save up whatever they had and don't want to waste it on moon shots, cause a lot of moonshots don't work. I think they also don't want to admit that all their hard work amounted to the same as a few smart trades.
But even AVA could fall apart. I don't think it well but it could. Bitcoin seems a bit more unlikely....I do still think it may be compromised one day, but not before the end of this cycle
i totally agree! also btc doesn't have someone behind it as nobody knows if satoshi is alive. So the governments don't have someone to blame. Instead, they may decide to blame/frame the team behind ava let's say for money laundering, then the price will fall extremely fast!
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I think what’s more likely for companies like travala are that bigger companies come and try to push them out of the market and take all their good ideas. But they might survive! They seem better than most. I’m gonna buy some too
Most of my family on the one side holds some BTC, but I don't talk to them about it too much. I am really the only one who keeps track of it. Even now they will occasionally ask what price there BTC is at and I will tell them. They have definitely been asking more frequently lately :)
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Haha yeah my family is slowly becoming the same. It's nice. It gives us something to talk about
Glad to hear your family are finally coming around. Mine, and my friends, are still stuck in eyes glazing over syndrome or jumping straight in with "I don't understand any of that stuff".
The only one who shows any interest whatsoever, and that's limited to headline reading, is my 90 year old mother! She once sent me a text saying "did you see Bitcoin today it went up past £24K". But that's about as good as it gets from any of them.
They all prefer to bury their heads in the sand and pretend that nothing different is going on out there. 😢
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Yeah, I can easily imagine. Surprisingly my family is much more responsive than my friends, but I think that's because they see how much more I understand about economics and markets than they do now and they are impressed by that.
My friends are all just like "Monopoly money? 😃 "