Topic: How to Shut Up Bitcoin Haters - page 16. (Read 1877 times)

I'd rather choose to ignore them than joining in their debate with their minds not open to any kind explanations. Many of these bitcoin critics or haters lacks knowledge on a cryptocurrency they are hating or criticizing and others are really want to destroy the virtual coin deliberately by spreading malicious accusations and other FUDs. These people have the right to express their own opinions and nothing can stop them from doing it but expressing an opinion that seek to destroy a person or a product is no longer acceptable and that is already below the belt.

I think you dont have premissions to shut up haters.
Its his opinion and it can live

In life there will always be haters because you can't please everyone. As how to shutdown bitcoin haters, No, we really can't and how much we show them that bitcoin's good side they will still hate it to the bone. Specially old traditional investors such as Warren Buffett or those who have been scam before in the name of crypto. So its just better to keep quite and let Bitcoin ecosystem do its thing. Right now the price keeps going up, so its a slap on the face for those bitcoin haters. hahhaha

Dispelling Some of the Most Common Arguments Against Crypto

Once in a while, every crypto-enthusiast will run into somebody who is skeptical of the industry altogether. People like this usually have never invested before, or did once but lost their money. As somebody who cares about the field of cryptocurrency and has invested several times in the past, it can be mind-numbing and frustrating to hear the opinions of people who have only ever read headlines and soundbites regarding the topic.

Make note, it is reasonable to be skeptical of cryptocurrency and present some well-researched arguments against them, but the people being referred to here are those that know very little about the industry and have no noticeable desire to get acquainted with it.

Here are some of the most common arguments you will hear against cryptocurrency (either from people you know or from news outlets) and some simple responses to them.

“Cryptocurrency is a pyramid scheme.”
Occasionally, I will run into a person who claims that cryptocurrency (or more specifically bitcoin) is a pyramid scheme and that only those who were first to the market will be able to make a reasonable profit from it.

While it is true that the earliest adopters of coins like bitcoin and ether have seen the most significant increases in their profits – this does not make it a pyramid scheme. Pyramid schemes are structured so that subordinate investors must pay or hand over a percentage of earnings to a higher level investor. This is not the case with cryptocurrency— if you head to an exchange to buy a coin, it is possible you will be buying from somebody who is at the same level as you (i.e., they invested around the same time you did). This is not possible with pyramid schemes since the only way to make money is to recruit new members. With cryptocurrency, you can trade and exchange with new or old investors. Also note, the main aim of cryptocurrency is not necessarily to get new investors since the price of a coin does not exactly rise due to adoption. Positive news regarding programming updates, partnerships, and new features can also just as quickly raise the price of a coin.

“Cryptocurrency is only used to buy drugs and launder money.”
This statement is commonly used by media outlets as a way to discredit the entire industry and the technology behind it. The best way to refute this statement is to briefly explain the nature of the blockchain and the sheer level of transparency that cryptocurrency offers. Most people who do not know anything about the industry get the impression that using this currency automatically masks your identity and your movements.

Explain to them that most coins have a global database of transactions which can freely be viewed by anybody. This, alone, is enough to discourage people from laundering money and purchasing illicit substances since law enforcement, the IRS, and other government bodies can track purchases with more ease than fiat.

“There is no underlying. value”
This is a half-truth. While cryptocurrency does not rest its value on assets like gold or land, it instead derives value from its developers and its code. Arguably, this is similar to how legal tender derives its value from its government and laws. Similar to how a decision or press conference from the President can affect the price of USD, an announcement from a lead developer can affect the price of Litecoin.

“It is too late to make money.”
I have personally found this argument to be said by people who only know of one cryptocurrency: bitcoin. Generally, the easiest way to open their mind is to show them that CoinMarketCap actually lists over 1500 coins and tokens. Of course, only a fraction of them are worth investment, but it proves that the industry is expansive.

New coins and tokens are constantly entering the market, many of which shoot up in price significantly after a while. One coin that has not had a long history, but is valued highly, is Nano. The coin only came into existence in early 2017, but in the space of a little over a year it has risen to the 28th spot. The main reason for this is the team it has and the technology it runs on. Finding a new coin with a great set of programmers and impressive code can be one way of making money in the industry. Of course, it is not the only way. The much larger coins like bitcoin, ether, and monero are still considered good investments now— this is because people still think the technology is undervalued. If that is the case, then it certainly is not too late to make money.

Originally published at cryptodisrupt.com

I think the best way to shut up bitcoin haters is to prove that you are earning on bitcoin. When I was starting at bitcoin, there are a lot of negative comments from my friends and they were always telling me to be cautious. Only a few of them supported me and those people are investing on bitcoin as well. They are earning enough money for their needs and they never regret investing on bitcoin even if the price goes up and down.

I think the best way to shut up bitcoin haters is to prove that you are earning on bitcoin. When I was starting at bitcoin, there are a lot of negative comments from my friends and they were always telling me to be cautious. Only a few of them supported me and those people are investing on bitcoin as well. They are earning enough money for their needs and they never regret investing on bitcoin even if the price goes up and down.