Topic: Can you put away your arrogance? (Read 295 times)

Public chain can be upgraded but it doesn't happen easily or quickly, and before it happens there will be glaring need for it. Hence, soft fork and hard fork.
Have you not seen some systems that undergoes an update, and the former update betters the current?
Though difficult to implement in Bitcoin, yet that's the nature.
As for the poor efficacy of blockchain, I'm yet to understand.

I'd have to agree to an extent on his 'BTC a religion' comment. Unfortunatelly, it sometimes looks that way and is in most cases prompted by influencers laying the whole thing a bit to thick. That's giving crypto a bad name. Not all of us are like that and not all of us are here for the same reasons, but those preachers are reciting the gospel of crypto like it's the best thing since sliced bread. But you have that in every field.

You may have a point here, price is bound to grow as long as people are interested by the topic.
Facebook made people lose interest in myspace and.. that's basically end of story there. On the same page something really better than bitcoin may need to emerge to make people "forget" about bitcoin.


Then how comes that without any change in the economy they decide to just print a couple more billions of dollars? I find those even more a definition for something with "no intrinsic value".
I'll come with your example about myspace: company's profits may turn south very easy, isn't that investment gambling then?
And the fact that big companies, with people hired to think this over very good, turn their reserves into bitcoin tells me that it's not just an ordinary hype.


While a lot of altcoin projects were scams, bitcoin proved itself in his 12 years that it's not a cheap scam.
Most of those scams are targeting the people too greedy to sit back and think it over, so I would not be worried about them.
Your generalization would be like "I see every days at TV that cars are crashing and people are dying, so don't buy a car, it's not good".
And regulations.. they are coming. In some countries faster than the other, but they're coming. Hence if you look a little bit around you can easily find reputable businesses you can work with.


Of course, it's easier to just come and bash/complain than look a bit around and read more. But it's your opinion, do as you think. Bitcoin is clearly not for everybody, some will always find it unsafe or too expensive.

Your friend must have known nothing about BTC or blockchain. Tim eto let them learn by telling them to search why Bitcoin is a better currency and its close to being a world reserve already. The mainstream media already keeps reporting in on TV and wall street guys admitted they got in too late because their bosses will fire them if they are caught talking or investing BTC.

They can't really put away arrogance or take back their words like Peter Schiff or Jaime Diamond even when almost admit they are into cryptocurrency investing. Call it pride I guess.  They will still be sticking to Gold even when its growth rarely happens.

I beg to differ.
1. Price of anything can go up as well as down so the price is not bound to grow. People thought MySpace was going to grow forever and look where it is now (just an example).
2. Currencies are backed by the economies, stocks are backed by companies' profits. On the other hand, Bitcoin has no intrinsic value, so once the hype goes away and people switch to something new, the value of bitcoin will diminish.
3. Crypto market is unregulated so it's a very scammy industry and regular folks should stay away from it unless they are happy to give money to scammer.

Well, some conversions take time, albeit inevitable. I hope you are not easily swayed by the heavy yet unfounded opinion of your friend. On the contrary, as being the one who knows Bitcoin more, it should somehow fall on you to end up educating him/her that he be enlightened as to the real case of Bitcoin. But he/she seems a little technical and needs quite a few technical rebuttals. I hope you've got them. And I hope your friend won't hop in the bandwagon too late and end up wallowing in regret.

Arrogance is one word that describes the nature of a person,how he relates with people and his personality as a whole. In our society today,people seem to hate people that are arrogant,nevertheless,we should try and know that there is a difference between arrogance and pride,I will explain it.

Arrogance is bragging about things that one have acquired or amassed,While pride deals with your dexterity, your ability to never compromise to things you have said No to.A man is suppose to have pride,because it makes you look outstanding in the society today.

I believe that your friend only sees Bitcoin and crypto from negative sides. And well, let it be because that is what is in his thought.
However, you can also talk about whatever you know about crypto from positive sides, based on the trusted sources, so that the information will be balanced. And if there is something wrong with what he said, just tell the truth and also make the clarification of the judgement with the source.

He may mean about "gambling" because he is not sure when someone is buying crypto, the market will be really increasing or not. He thinks that it is likely gambling because cannot ensure or guarantee the future price that will be rising up or getting profits from it.
This may be true, but not exactly true. It will be only gambling if we don't know the exact way of investing or trading if we don't learn if we only follow others, and if we only make it based on luck to get profits.

Bitcoin is not a religion.
And is a religion bullish or bearish? 

and some of his opinion is only from one side view, I think that you should let him know and broaden his mind about crypto 

First of all, everyone has a right to offering their opinion about anything as long as it's still aligned with the rules, other's rights, and it's delivered in a good way. However, the quality of the opinion described the person. You can see whether this person is educated, wise, based on data, arrogant as you said, or not. I usually will abandon other's opinion if it's baseless and weak. I believe people should know what they're talking about before stating their opinion.  So, research and thought well is necessary.

Sincerely speaking, after taking a look at all what your friends said, I have come to realize that they lack the basisc understanding of cryptocurrency. They are ignorant, and yet fail to accept the fact that they don't know and want to learn.


So, tell him bitcoin has never been a religion and can never, it's a currency just like the US dollars, or a store of value just as gold but in the digital form, not controlled by any government laws, secure and can be used as a medium of exchange for transactions.


But however, I don't blame him that much, because from my country where I come from (Nigeria).. it takes only the grace of God to be able to convince anybody who was a strong victim of the 2017 MMM scam which was rampard in the entire country... Because those set of people fine it very deficult that any legit online exist.

Pride goes before a fall, that's a true saying. However, your friend is absolutely correct about the forks and Bitcoin taken as a religion. Even here in this forum too, there are users who don't ever want you to speak ill about Bitcoin or point out areas it lags. They want it all positive and FOMO for Bitcoin always even when there are ominous signs to the contrary. To this sect, fudding on Bitcoin could earn anyone a disdain. In school, we were taught that anything with merits also has demerits.

Yes, I regret that I told him now. At first we were talking about how to invest to make money, but then I accidentally said this.

After listening to his long talk, I chose to shut up.His inherent concept is not something I can make clear in a few words.

I don't know If it's just me but I think, it's too easy to make assumptions. How in one instance, people can just get a solution to what they virtually know nothing about especially when it's new and relative. A way in which, ignorance tends to rule over most persons and then in the later future, you keep getting statements like "if I had known or bought bitcoin earlier" "only if I had listened to xxxxx and bought bitcoin". It is traditional beliefs that promotes this sort of behaviour in persons. They refuse to accept that there is a risk factor in every investment and even them can be wrong about a person's choice of investment. There are things that are even strange to a professor in his or her field and as such, feeling you know it all is you already having a lot to learn.

He is just uninformed and had limited thinking. I know that type of people, and here it is very difficult to influence to change the way of thinking.
I stopped explaining to such people anything related to Bitcoin/crypto a long time ago. A pure waste of time.

Sorry to say this, but your friend sounds stupid, backward and ignorant.

Can he say the same about trading stocks, forex, commodities etc?

I mean, the whole world of money is about some people winning and other people losing.


And yet he didn't suggest any better options.

Let's talk Bitcoin. Is he trying to say Bitcoin network has never undergone any upgrade since its inception?
Your friend's Ignorance is off the charts.

Tell him to try to look up Libra coin. A Facebook side "blockchain" project that failed before it even started,

What a lame kind of analogy he has. According to him. I guess fiat currencies and Gold are also small religions.


Right The other thing getting "halved" every 4 years are the critics and nonbelievers.

Bitcoin is a personal race and it does not depends on another person strategies or method to pursue it's betterment, it based on my personal founding about Cryptocurrencies generally, people do make mistake for joining bitcoin world venture or cryptoprenuer, because it's obvious that before adventuring into something that is unknown to you, you have to make an adequate research to enable you to comprehend the grassroots of the stuff... people alway or get arrogant of something because of the kinds of knowledge or information you impact on them going into something, and they have adventure into the stuff and what you explained to them is not really what they grabbing definitely they will become upset, so it's good to start from the scratch to learn bitcoin.

Your friend needs to do some deep research before judging the blockchain, today there is nothing in this world that works better than blockchain unless he has a better idea than the great satoshi nakamoto though, blockchain isn't perfect either but they can always be upgraded which makes sense to me

This is normal thought's from a people who doesn't know about bitcoin and best not to explain anything about blockchain or bitcoin to him since he will not accept the new information you provide to him since most of the people like that are close minded and always think that they are smart then their ideas are always right. Maybe the best thing you need to show is your success toward bitcoin since if he see you earning good money on bitcoins for sure he will find ways to dig up some information about bitcoin.

The mistake you made first - telling your friends that you invested in something, it should still be a private matter, especially if you look at it from a security perspective. Owning digital assets in the form of cryptocurrencies is definitely a risk, and even greater if your friends and acquaintances know it.

Another thing, when someone equates Bitcoin with a casino, then that story should stop - such people can't stand that someone disputes their opinion, even if they know they are wrong - because in most cases it all comes down to people out of ignorance talking negatively about something, because they won’t admit that someone is smarter than them.

Religion in the context of cryptocurrencies is another big nonsense - because no one has built a crypto church or prayed to Saint Satoshi every day.

You shouldn't waste your time on people like your friend in the sense of convincing him of something - I would from now on avoided cryptocurrency as a topic of conversation since it is obviously a one-way street for him.

I think the fork argument kinda makes sense but no fork from bitcoin has become large enough to overtake it. He might've been following the bcash/bsv news and thought it was a rival (when it really wasn't).

I do think bitcoin is quite inefficient electricity wise only though, there are probably improvements that could be made to make it more reliable with less electricity needed.

People have gambled on bitcoin and do still, you're not going to get past that. An investment in bitcoin might be likened to an investment in a new tech firm that hasn't yet produced a year's worth of profits or have been performing at a loss until they get big enough... You're investing in the team, the hardware and the currency by investing in the currency.

This reasoning is somewhat justified, but it can only be applied to cryptocurrency trading or gambling but definitely not to cryptocurrency holding. If your choice is a reputable digital asset, for example, bitcoin that has proven many times it is able not only to store value but also significantly increase it then it is anything but a casino. The very fact that bitcoin is functional and scarce makes it a desirable investment, but its inflation resistance makes it unique. If something is unique and more and more people start fighting to obtain it then it is common sense to invest in it early and wait until it becomes globally widespread. Those who call it casino and speculation today will try to deprive you of your bitcoin tomorrow. Because you were smarter and people hate that.

I would start with telling him read the white paper. Or, at least, most of it. It's only a couple of pages and it tells that it's a currency, what is aimed for and how it should work. I think that this would be a good start.

Then, explaining that the max number of coins is fixed and known makes it an asset with the price bound to grow and this is the reason for many speculating on its price. Forex and stock markets are similar, but with stronger regulations and smaller price variations. So it's not gambling/casino.

The software parts are upgraded - in a way or another - since Bitcoin was created. It's not easy indeed because of the consensus, but it's possible and actually done. Latest change is Taproot which was accepted and will go live this November. Keep in mind that it's normal for a software working with multi-billion worth of money take longer to get updated.

Mixing up facts with news and various coins and blockchains is a sure direction for failing get a proper idea what is what. Keep the discussion only on Bitcoin and after that is pretty much clear, only then move on to other blockchains, coins, tokens, NFTs and whatever (of which, keep in mind, most are just made to get your money hence it's better to avoid to insist much on them).

Today, a friend who works in the traditional Internet field announced his opinion after knowing that I bought Bitcoin and some altcoins:

1. He thinks this is a casino. Only those who open the casino and the lucky ones can make money. Don't indulge in gambling and don't be blinded by the deviation of survivors;

2. He believes that the fault tolerance of the blockchain is too poor and the efficiency is too low;

3. He pointed out that the public chain cannot be upgraded, otherwise the consensus will be torn and various forks;

4. He believes that giants represented by Facebook can apply blockchain in the financial field, but this has nothing to do with ordinary people's speculation, and it has nothing to do with the public chain;

5. He believes that Bitcoin is essentially a religion, so it's okay to be bullish, but it's nonsense to talk about blockchain killer applications.

I think what he said is right and a bit wrong, I don't want to say anything more.
Most people in the traditional field will only say that this is a liar, a pyramid scheme. This is not what the first friend told me, but so what?

Weakness does not hinder a person's survival, arrogance does. Weakness is not the end, but a state that can be changed.

Time will prove everything.

Put away your arrogance.