How do you explain cryptocurrency to your friends?

[Alone055]

Unless you are sure that your friend is really interested in learning, do not waste your strength to speak about it. Sometimes the best way to convince your friends is by your results, that is what they see.

Talking to your friends about bitcoins and investing in it when you have no results to show for it will only be a waste of time.

Why do it in the first place? Even if you are investing and having good results, you don't need to show it to anyone unless someone specifically asks and you believe that person and know is actually sincere with you. Whether it's a friend or family member, if you don't get asked about cryptocurrencies or investments in them, if someone doesn't show interest or initiates the conversation, you don't need to do it because it isn't going to end well for you and I'll tell you why.

Most humans have a tendency to blame others when they face problems in doing something that was suggested by others when they weren't showing any interest themselves. So, for example, if your friend doesn't ask you about crypto, but you initiate it by saying that crypto is great, and you should invest in it blah blah, and your friend takes your word and makes an investment. Now, if he makes a mistake and invest in the wrong token or coin and loses his money, you are the one who is going to take the blame for it because you suggested it and he didn't ask himself.

So, protect yourself from these things, and keep your stuff to yourself only.

[Report]

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So, what if your friend asks you "what is cryptocurrency? and how does it work to make money?"

Cryptocurrency has no price certainty and that certainly makes cryptocurrency very dangerous for those who are not familiar with it. If there are lay people and ask me about cryptocurrency, I immediately refuse at that time or I pretend not to know.
It is more humane to pretend not to know and immediately change the topic from the cryptocurrency because I want my friend not to be carried away by Fomo to invest in cryptocurrency. Maybe for me, cryptocurrency is enough to be studied but it should not be known by the people we love around us.

[Forsyth Jones]

It's annoying when we talk about Bitcoin with friends because they usually assume we have a lot of cryptocurrency, which often isn't true. People tend to think you're rich and start asking you for things. Really frustrating.

It's funny how with Bitcoin and others crypto, people who know you have it will tell others (about your profits or losses) without your consent. As if BTC were just some poker chip or toy... Why do people behave this way?

[libert19]

I get people's attention by merely stating the fact that how much cryptocurrencies fluctuate, they usually focus on potential to make money with these fluctuations and disregard the fact that it works both ways and they can lose just as easy too.

[bayu7adi]

It's funny how with Bitcoin and others crypto, people who know you have it will tell others (about your profits or losses) without your consent. As if BTC were just some poker chip or toy... Why do people behave this way?

This is what I mean, some people always ask me for explanation and ask about cryptocurrency and Bitcoin because they hear false news from others.. so, we have to give an explanation when they want facts about what we do for cryptocurrency while providing correct information about Bitcoin... those who are skeptical will ask us directly about Bitcoin, crypto and how money works... this is what I mean when I have to explain Bitcoin to a beginner or new person...

Basically, not all of them want to get trading knowledge, but they are just curious about what we do... is it true according to what others say, or vice versa... our job is only to clarify the real truth by explaining Bitcoin to them in easy-to-understand language... often I use simple analogies so that they do not misunderstand what I mean....

[Namtech]

It's annoying when we talk about Bitcoin with friends because they usually assume we have a lot of cryptocurrency, which often isn't true. People tend to think you're rich and start asking you for things. Really frustrating.

It's funny how with Bitcoin and others crypto, people who know you have it will tell others (about your profits or losses) without your consent. As if BTC were just some poker chip or toy... Why do people behave this way?

I really get where you’re coming from. Whenever we mention Bitcoin or any crypto generally, people always assume we are the richest whereas we are just the space. This is why i keep my life private, because people tend to cross boundaries, you just realize one day that people are gossiping about one’s finances. Most people lack understanding about crypto, they think crypto is a get-rich quick space.

[Dr.Bitcoin_Strange]

I‘d literally explain to them like i would to a teenage kid because explaining terms like decentralization might still be confusing to them. Would explain cryptocurrency as digital money while Fiat as the normal dollar bill. Use Bitcoin as a key example for investing, how it’s value has increased over the years.

Very correct, because if you did not mention money to them, they might not have the courage to learn or know about crypto, but letting them know that its very good to know about crypto, for it will relief them from the stress of looking for jobs and all that but they can empower themselves through crypto, this idea will surely interest them to participate but its very important to let them know that its not what they will start benefit instantly but once they get to the stage of start benefiting, its for lifetime.

[LogitechMouse]

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I really get where you’re coming from. Whenever we mention Bitcoin or any crypto generally, people always assume we are the richest whereas we are just the space. This is why i keep my life private, because people tend to cross boundaries, you just realize one day that people are gossiping about one’s finances. Most people lack understanding about crypto, they think crypto is a get-rich quick space.

This is how I look at other people as well that's why I want to keep my investing portfolio or even my investing journey as a secret or at least, they only have little knowledge about what's happening with my investments.

The common mindset of most people is "if you're investing, you're rich". I know this isn't applicable to all, but most especially those who doesn't have any idea on how investing works has this type of mindset for most of the time. As for crypto, only a few people (I think around 3-4) knows that I'm into crypto, and I will never, ever disclose my assets to them as I want them to be private. Sharing it to other people might affect your security as well.

[enwi]

I‘d literally explain to them like i would to a teenage kid because explaining terms like decentralization might still be confusing to them. Would explain cryptocurrency as digital money while Fiat as the normal dollar bill. Use Bitcoin as a key example for investing, how it’s value has increased over the years.

Very correct, because if you did not mention money to them, they might not have the courage to learn or know about crypto, but letting them know that its very good to know about crypto, for it will relief them from the stress of looking for jobs and all that but they can empower themselves through crypto, this idea will surely interest them to participate but its very important to let them know that its not what they will start benefit instantly but once they get to the stage of start benefiting, its for lifetime.

That is not wrong to make people develop an interest in crypto simply because they can make large profits from it. But it would be much better if from the onset it has been explained to them this is not something that can be turned to as a source of running away from problems of life. Depending on their experience, I encounter many individuals who are usually let down because they want to gain a lot of profit in a short period. I believe that what needs to be kind of put into people’s heads is that studying about crypto is not just about making profits but about developing a new paradigm regarding assets, privacy, as well as the digital world. If so, people will not panic when the market is down or when the results are low or unsatisfactory.