Does anyone you personaly know are aware of cryptocoins?

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Klee

Well-Known Member
Jun 2, 2016
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I'm not generally talking about most in the computer industry, I'm talking about family, friends and acquaintances outside of the computer industry and maybe even some in it that are not yet aware of it.

I do not work in the IT field, computers have been a hobby of mine for decades and usually as someone involved in a hobby you always are on top of the latest and greatest.

I have mentioned cryptocoins and crypto mining to coworkers and friends and my family and I always get the " deer in the headlight" look from them. LOL

Only maybe %10 have even heard of bitcoins.

The usual reaction is, how can you make money from nothing?

Even after I explain that you get paid for the "work" , the mining, the pc does.

Usually the reply is "Thats not working" and how can that have value?

I try to explain it has value just like anything else, and ask them what "cash" is and why do they place a value on it?

I am teaching my children about it because I truly think cash will eventually go away and we will evolve to a cashless society, not in my life time as I'm 53 but defiantly in my kids lifetime.

What has your experience been?
 

T_Minus

Build. Break. Fix. Repeat
Feb 15, 2015
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My family is aware of them and what they are and that they're mined but beyond that they ask 'how' and 'why'. The conversations usually are about the value jumping and/or friends we know that have some and others who are cashing out, etc...
 

amalurk

Active Member
Dec 16, 2016
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My business partner (not computer related) is aware of them from me and so now likes to rail on them whenever there is negative news the same way he rails on gold bugs. He doesn't think it is a ponzi scheme but rather that its value as a type of fiat will not last because it is not backed by a sovereign. Also he thinks sovereigns won't let it remain independent or compete with them long term. They cannot or they will lose too much control and they have the police and guns. He also likely correctly points out it is so ridiculously volatile it really isn't suitable as a serious investment in his age class of 60+. He has accumulated decent wealth during his lifetime it would be silly to potentially squander it on something so risky when he is near retirement.