It is technology, money, solution that eliminate the third party involvement. We can keep on briefing about the cryptocurrency in different ways, on the opposite side one needs to be ready to hear it.
Arguments make conversation interesting, but some people without sense keeps arguing. With those people just explain the basic and leave it. Let them learn further if required, and I have did this way in the past. Some people who never believed and kept arguing without sense came back and asked suggestions on investing.
Topic: How do I convince people that Bitcoin isn't a financial pyramid? - page 2. (Read 926 times)
April 12, 2021, 05:40:13 PM
April 12, 2021, 04:32:03 PM
I agree with those people who say that there is no point in convincing people, especially those with an engineering background or simply holding a solid position in society, that Bitcoin is not a pyramid. Those who believe in cryptographic progress are already here. The space of the Soviet Union was filled with pyramids in the 1990s, but the Internet was not widespread then and people are very easily misled. Now you can find expert opinion on any issue from different points of view. Personally, I don't care what definitions the official propaganda of my state assigns to Bitcoin. I earned thanks to bitcoins and will continue to earn, and whoever does not believe in bitcoin - I just feel sorry for them, but I will not persuade them - I would rather spend this time monitoring the situation in the cryptocurrency world and the opportunity to buy bitcoins even more in the upcoming correction.
March 16, 2021, 01:39:08 PM
The potential of bitcoin and its increasing price attracts many people. so that many are entering into bitcoin. if bitcoin is associated with the Financial Pyramid, of course they are misrepresenting it. Some ponzi projects that use bitcoin are just trash projects under the guise of bitcoin that people are attracted to, while bitcoin itself is just a tool.
People who understand completely about bitcoin certainly understand what bitcoin is and not as a financial pyramid, people who say bitcoin as a financial pyramid are only people who fail in projects on behalf of bitcoin or don't fully understand it.
People who understand completely about bitcoin certainly understand what bitcoin is and not as a financial pyramid, people who say bitcoin as a financial pyramid are only people who fail in projects on behalf of bitcoin or don't fully understand it.
March 15, 2021, 11:30:25 AM
No need to waste your energy in arguing or convincing anyone about bitcoin. In recent times you notice many institutional and big influential people start investing in bitcoin. You know nobody convinces them. They saw the potential in Btc so they invest in it like this more and more investors will take interest in BTC as BTC keeps booming. Certainly current bull run of Btc caught the attention of many new investors. Those who understand the bitcoin potential are actively buying BTC and hold it for the long-term.
March 15, 2021, 10:08:20 AM
Why would you waste your time trying to convince people? As satoshi says:
“If you don't believe it or don't get it, I don't have the time to try to convince you, sorry.”
If you think about who convinces us to be in this crypto world you will realize that people only have to understand how it works to convince themselves. No one has to be telling us the benefit or why it worth to be part of this movement.
“If you don't believe it or don't get it, I don't have the time to try to convince you, sorry.”
If you think about who convinces us to be in this crypto world you will realize that people only have to understand how it works to convince themselves. No one has to be telling us the benefit or why it worth to be part of this movement.
March 15, 2021, 09:59:24 AM
It may not be worth convincing anyone, most often a person will still remain unconvinced until he tries for himself and is convinced by his own experience. I think now you can find any information, study it and compare it, if there is a desire and interest. And if it is not, then no amount of persuasion will help. It may happen that you convince someone that bitcoin is absolutely reliable, but this person will not succeed, he will lose money and blame you for it, without understanding the reasons. Or maybe someone does not need information about the cryptocurrency at all, in general, everything is individual 
March 15, 2021, 09:51:13 AM
Maybe telling them every day, showing them proof that you are actually making money from this, guarantees that they will show an interest one day.
I am still skeptical about this method of teaching - one where the commodity being discussed has a bigger negative image from the start.The usages and the system inside this industry is the best convincing tool.
People who doesn't understand how this market works will keep having a bad impressions to this industry, you just need to bring up what are the benefits and not just the earning opportunities, there are other things that may gathered interest aside from the investment side, you just need to explain further.
March 15, 2021, 05:00:21 AM
Don't convince them Instead just let them ask by showing them how beneficial Bitcoin to you and your family and friends .
If they saw everything is good then trust me they will ask you how and why this is helpful and not pyramiding scam.
If they saw everything is good then trust me they will ask you how and why this is helpful and not pyramiding scam.
March 15, 2021, 04:26:16 AM
It is not easy to convince others that Bitcoin is a good asset to buy. Because most people still don't understand the real Bitcoin, they only read
the news that is spread on the internet and watch television. Which media that describes Bitcoin is usually under government control, and also
some of the economists who explain Bitcoin are government people. So the news that is widely spread Bitcoin is illegal and widely used by criminals.
This is done by the government to increase the reputation of the bank, therefore a detailed explanation is needed so that people can really understand
that Bitcoin is not as bad as they thought.
Even in my country, many think Bitcoin is a gambling game, I do have to spend a lot of time explaining to people around me about the real Bitcoin.
Even though it is tiring, it is our job to convey the truth about Bitcoin. So that Bitcoin can be accepted more quickly by many people.
the news that is spread on the internet and watch television. Which media that describes Bitcoin is usually under government control, and also
some of the economists who explain Bitcoin are government people. So the news that is widely spread Bitcoin is illegal and widely used by criminals.
This is done by the government to increase the reputation of the bank, therefore a detailed explanation is needed so that people can really understand
that Bitcoin is not as bad as they thought.
Even in my country, many think Bitcoin is a gambling game, I do have to spend a lot of time explaining to people around me about the real Bitcoin.
Even though it is tiring, it is our job to convey the truth about Bitcoin. So that Bitcoin can be accepted more quickly by many people.
March 15, 2021, 03:03:38 AM
Why do you want spend you time explaining evident facts? Just show them a financial pyramid definition and stop casting pearls before swine.
March 15, 2021, 02:46:33 AM
Maybe telling them every day, showing them proof that you are actually making money from this, guarantees that they will show an interest one day.
I am still skeptical about this method of teaching - one where the commodity being discussed has a bigger negative image from the start.
March 15, 2021, 01:04:28 AM
Maybe telling them every day, showing them proof that you are actually making money from this, guarantees that they will show an interest one day.
I am still skeptical about this method of teaching - one where the commodity being discussed has a bigger negative image from the start.Instead letting them come to you to learn is what I feel has the more number of acceptance. However the bad effect of this is that they will be very late by the time they realize but seriously speaking that is not our problem, not ours. In case we are talking about family members and close friends, this will hurt to see but we cant do anything to help them if they are not willing to help themselves.
After all, it is their choice whether to use bitcoin or not. Everyone has their own reservations and another person is defenitely not the one to change that.
March 04, 2021, 10:13:24 AM
ahhh sad story, me too, i don't even know how to tell my family what bitcoin is about, even though bitcoin has been explained on national tv somehow the scheme the pyramid cannot be removed , probably because national tv just reported about price go up like now, and like big correction happen on 2018 , but never explained about the technology in the detail, they even didn't tell reason why bitcoin was created.
Many people misunderstood Bitcoin, about cryptocurrency, because they have been blocked by negativity. The influence of TV news, social media, and those people are talking about negative before you has already been planted in their minds. As long as they have that kind of situation, that is a big challenge for us to make them understood and empty their mindset. Maybe telling them every day, showing them proof that you are actually making money from this, guarantees that they will show an interest one day.
I agree. I think most of the people now aren't inti butcoin because they believe that it will always a bad thing yet they just dont know how it works and what are the good things about it. I think if you explain well the idea of it, people might understand everything about it and might be able to have interest. And I also agree to the idea that showing some proof might give them some interest in order to also make them also into it and make some profits as well as invest in order to have savings for their everyday and emergency needs.
March 04, 2021, 09:15:18 AM
"Ah yes, enslaved hodlers", they said.
They're simply just don't have their own instinct. Some people are too easily brainwashed by these people and even by celebrities.
People think that all these celebrities are always correct by their own beliefs.
They're simply just don't have their own instinct. Some people are too easily brainwashed by these people and even by celebrities.
People think that all these celebrities are always correct by their own beliefs.
March 04, 2021, 08:33:06 AM
ahhh sad story, me too, i don't even know how to tell my family what bitcoin is about, even though bitcoin has been explained on national tv somehow the scheme the pyramid cannot be removed , probably because national tv just reported about price go up like now, and like big correction happen on 2018 , but never explained about the technology in the detail, they even didn't tell reason why bitcoin was created.
Many people misunderstood Bitcoin, about cryptocurrency, because they have been blocked by negativity. The influence of TV news, social media, and those people are talking about negative before you has already been planted in their minds. As long as they have that kind of situation, that is a big challenge for us to make them understood and empty their mindset. Maybe telling them every day, showing them proof that you are actually making money from this, guarantees that they will show an interest one day.
March 04, 2021, 08:06:36 AM
ahhh sad story, me too, i don't even know how to tell my family what bitcoin is about, even though bitcoin has been explained on national tv somehow the scheme the pyramid cannot be removed , probably because national tv just reported about price go up like now, and like big correction happen on 2018 , but never explained about the technology in the detail, they even didn't tell reason why bitcoin was created.
March 04, 2021, 07:21:34 AM
With more and more influential people and companies getting involved with Bitcoin there's been a lot of talks about the crypto world among regular people, to whom Bitcoin is still something new and unknown.
As you might expect, many of these people believe that Bitcoin and all other cryptocurrencies will not benefit the economy, but rather only make it worse, and many are convinced that Bitcoin is yet another pyramid. And what upsets me the most is that among these people are economists, financial advisors, they should know better, than that...
So how do I prove them wrong?
Though I'm not a professional economist, still I've come up with some arguments as to why Bitcoin ISN'T a financial pyramid:
1. There's no single beneficiary
In financial pyramids, there's always someone, an organization, or a group of people who benefit from peoples' investments. Who benefits from Bitcoin? Anyone can become that person if he/she invests enough money, there's no one, who controls it.
However, a friend of mine argued that there are people, who benefit: electric companies from large energy consumption due to mining and the companies that develop and sell the miners.
But that's just crazy, to believe in that we'd have to assume that they're all in collusion.
2. There's no need for new recruitment
That's probably my favorite. The main reason why financial pyramids survive is that they constantly recruit new customers. Without that - the pyramid falls.
But there's absolutely no need to recruit new people for Bitcoin to function, am I right? Without new users, there'll be just redistribution of what there is among the current users, txns will still be going and the miners will have work to do. So there's no required amount of users for Bitcoin to function like there is in the pyramid. I see no potential flaws here.
3. There are no promises
In financial pyramids, it is common that an organization lures people in by promising that they can easily "turn $100 into $1000", for instance. There's no such thing with Bitcoin. Yes, there's a potential for it to grow, you can make money out of it, but there's also a potential for it to drop, everyone invests knowing this can happen and sometimes it does happen, we go in here being aware of the risks.
That's about it.
Also, one thing that people keep telling me and get me cornered with is that there's no actual value behind Bitcoin. And that the economy can't function like that. Making Bitcoin only requires resources (e.g. energy, machines), but Bitcoin doesn't give anything in return. They say that behind the fiat there's an actual value, which is why we can avoid inflation: precious metals, country resources, plus it is fixed to the GDP, which is why the economy can be stabilized.
Without that - fiat is just paper. And while Bitcoin has nothing like that fixed to its price - it is also nothing.
They say you can't just "create" money out of nowhere. The only way Bitcoin can function as a part of the economical system - is if we replace the fiat with it. What can you say about that? Sounds reasonable, but I'm not a specialist. Is that really true?
Don't hesitate to point out if I'm wrong somewhere, it'll help a lot. Also, it would be very helpful if some of you could come up with more arguments, proving that Bitcoin isn't a financial pyramid.
I know it isn't and I also want other people to know that it isn't, and for that, I need as many arguments as possible.
Let's look at things from a different perspective for a second. In a way, Bitcoin's current adoption situation makes it a bit of a pyramid so to speak (maybe). If everyone starts literally pouring in all of their money into Bitcoin, the price would skyrocket. Hypothetically speaking, lets say everyone has decided to cash out, and all at once As you might expect, many of these people believe that Bitcoin and all other cryptocurrencies will not benefit the economy, but rather only make it worse, and many are convinced that Bitcoin is yet another pyramid. And what upsets me the most is that among these people are economists, financial advisors, they should know better, than that...
So how do I prove them wrong?
Though I'm not a professional economist, still I've come up with some arguments as to why Bitcoin ISN'T a financial pyramid:
1. There's no single beneficiary
In financial pyramids, there's always someone, an organization, or a group of people who benefit from peoples' investments. Who benefits from Bitcoin? Anyone can become that person if he/she invests enough money, there's no one, who controls it.
However, a friend of mine argued that there are people, who benefit: electric companies from large energy consumption due to mining and the companies that develop and sell the miners.
But that's just crazy, to believe in that we'd have to assume that they're all in collusion.
2. There's no need for new recruitment
That's probably my favorite. The main reason why financial pyramids survive is that they constantly recruit new customers. Without that - the pyramid falls.
But there's absolutely no need to recruit new people for Bitcoin to function, am I right? Without new users, there'll be just redistribution of what there is among the current users, txns will still be going and the miners will have work to do. So there's no required amount of users for Bitcoin to function like there is in the pyramid. I see no potential flaws here.
3. There are no promises
In financial pyramids, it is common that an organization lures people in by promising that they can easily "turn $100 into $1000", for instance. There's no such thing with Bitcoin. Yes, there's a potential for it to grow, you can make money out of it, but there's also a potential for it to drop, everyone invests knowing this can happen and sometimes it does happen, we go in here being aware of the risks.
That's about it.
Also, one thing that people keep telling me and get me cornered with is that there's no actual value behind Bitcoin. And that the economy can't function like that. Making Bitcoin only requires resources (e.g. energy, machines), but Bitcoin doesn't give anything in return. They say that behind the fiat there's an actual value, which is why we can avoid inflation: precious metals, country resources, plus it is fixed to the GDP, which is why the economy can be stabilized.
Without that - fiat is just paper. And while Bitcoin has nothing like that fixed to its price - it is also nothing.
They say you can't just "create" money out of nowhere. The only way Bitcoin can function as a part of the economical system - is if we replace the fiat with it. What can you say about that? Sounds reasonable, but I'm not a specialist. Is that really true?
Don't hesitate to point out if I'm wrong somewhere, it'll help a lot. Also, it would be very helpful if some of you could come up with more arguments, proving that Bitcoin isn't a financial pyramid.
I know it isn't and I also want other people to know that it isn't, and for that, I need as many arguments as possible.
. The price would deflate as quick as it had inflated, just like in 2017. Only true believers would be left holding the bag. This is why I'm scared to go all in. Don't want to be left bag holding, should the institutions decided to jump ship, at the same time I have that fear of missing out.Exciting times
March 03, 2021, 03:16:56 PM
Lyn Alden covered this topic recently... YouTube search lyn Alden pyramid scheme. At first glance it sure looks like it, but no more so than US equities...
March 03, 2021, 03:07:22 PM
...
explaining Bitcoin to a completely not tech-savvy person would be very difficult...today we are faced with people who, although highly educated, do not care about new technology or innovation. what comes to their mind first when they hear about Bitcoin for the first time are game coins or Ponzi schemes 'lol'. I agree with saying that education is important.
March 03, 2021, 02:15:32 PM
Money is just a medium of exchange we use. As long as all parties involved in an agreement it doesn't matter what you use as "money" It needs to be something that cannot be easy to copy or replicate.
It could even stone if you so desire. If people give value to it, it becomes a commodity. I think these people you are referring to don't understand their own area of "expertise" this is basic stuff you learn in any business school.
It could even stone if you so desire. If people give value to it, it becomes a commodity. I think these people you are referring to don't understand their own area of "expertise" this is basic stuff you learn in any business school.
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