Yesterday I went to a relative place and we get into a kind of discussion cum argument. I am referring it as an argument, because sometime many a people try to force their thoughts on us without knowing the true facts or pros or cons. The discussion was over the choice between Car & Crypto once a person start earning. My Choice was Crypto, while they were like dying for Car.
A majority of people in India are not aware about crypto. Crypto are basically related to young millennial who understand the new investment area. When those section of people hear about crypto their first reaction is "Bitcoin". In other words for them Crypto = Bitcoin. They are not aware about the vastness of the blockchain and thousands of coins and token and projects available in it.
Yesterday, it was same counter with a unknown mind who get into heated argument over choice of car than Crypto. They prefer to owning a car I.e 4 wheeler first as their first investment, unaware about the facts that the moment the vehicle comes out of showroom it value get depreciated. My point was on wealth multiplication throigh crypto, however they were more concerned of status addition. A car means high value in society for them which get them more respect. Even though the car is of minimum use or nothing at use for them.
When I asked them to invest into Crypto coins they simply get annoyed as such I asked them to cross the border or owning an illegal weapon. I wish I could have recorded their reaction. From a friendly meeting g it started to be a furious battle. They think Crypto is illegal and if they do so they get into kind of trouble. The mindset is totally at the negative side as far as crypto is concerned.
A car for respect and Crypto for illegal?
I generally avoid any kind of argument, but I maintain my respect and didn't went into deep discussion. Their first reaction told me what going to be the end result. I remember when I was doing my Accounts courses, out professor taught us a lot about money management. They gave us a list and owning a car was the last on the list. As the luxury of owning a car comes last after you secure your future or retirement through proper investment route.
It was a good knowledge gaining session and taking a leaf out of it, A car is alway my less preferable investment choice. And if I don't see it any use of it I never going to own any. It is like keeping an elephant as fet which require a lot to feed it. Mere going to super store or market car is of no use unless and untill you put it in regular use.
As far as Crypto is concerned. It becomes my first choice of Investments. Even I suggested my nephew to get into this zone of investment. After experiencing the vest way of wealth management and currently the market situation , crypto I vesent is best to start with. But it is hard to convince anyone who has zero knowledge in this area.
Anyhow, I came out safe from the discussion cum argument. When the other part is not ready to listen, it is better to remain silent, and I did it smartly. BTW,
What is your choice - Car or Crypto??