I really didn't think I was going to write a post today because I didn't know what to write about..but a couple minutes ago I had a conversation about crypto....and it left me feeling partly amused, and mostly irritated. Yay for posting inspiration!
I am reminded (again) that most people truly have no idea about crypto-currency. In my mind we have come so far since I started buying crypto in July of last year, but it seems to me we still have a long way to go.
It was a pretty quick conversation, but it just proved how much misconception there is among the general public right now. In the span of 10 minutes they said:
- That the electricity consumption used to mine for Bitcoin will destroy the planet.
- That most transactions having to do with crypto have to do with the black market.
They actually used the words Silk Road to which I said "You realize that the Silk Road was shut down in 2014?" They then said "Oh but there's still the dark web." To which I replied "Do you know what is mainly used as currency in illegal activities? Dollars. Does that make you stop wanting to use them?" I was also kind of offended that they said this because I have never even gotten so much as a parking ticket! They think that I would be interested in something that was primarily used in criminal activity?
Continuing on...
- There are "thousands" of cryptocurrencies. Having so many makes the whole thing pointless. (Obviously has no idea about why blockchain tech is revolutionary and that they are all used for different things)
- Its a fad at the end of its cycle like Beanie Babies (this is when I started to get irritated, because its obvious they saw the John Oliver segment from Sunday's show (you can watch it here) but they weren't paying attention to the positive or educational part....
- And the last one that really blew me away...that no one can afford to buy a Bitcoin except the already rich. Yep. You read that right, they had no idea that you could buy as little (or as much) as you want.
This person was actively trying to dispute everything I said, but at the same time had no idea that you could buy parts of a Bitcoin. What could I even say after that?
I tried my best to talk about the basics. Then I tried to explain the difference between Bitcoin and Ethereum. I also tried to explain why blockchain tech is revolutionary, but by that point it seemed like they were checked out of the conversation, so I ended it.. (politely of course.) I was going to show them Steemit and how cool it is, but I figured "Whats the point?!"
We have a long way to go....I read somewhere that 30% of all Millennials will buy crypto this year, (You can read that article here.) but after the conversation I just had I am starting to doubt that. Maybe I shouldn't engage in these types of conversations anymore. I could say "I will have to agree to disagree" and save myself the frustration... but hey, at least I had something to post on Steemit tonight. ;)
So, what is the biggest misconception you have heard regarding cryptocurrency when talking to people you know? Do you actively try to convince people into it (like me) or do you figure "their loss!" and move on? I would love to hear from you in the comments below. I am looking forward to connecting with you! Steem on!