You did well by helping them understand the differences between FTX and crypto, as most people today don't do their research to understand the history of the investments they make, which is why some people have never believed in cryptocurrency. As an example, on my side, I have friends who continue to hold this opinion about cryptocurrencies, and even when I try to explain, they claim that it's all the same as fraud and that they will be scammed.
They were both duped into sending money to a con artist who convinced them to invest and receive profits in less than a day. As a result, they stopped believing in online technology or any other forms of investment, including cryptocurrency. I would be delighted if I could persuade them and give them more information about cryptocurrency.
Topic: Sometimes a good explanation is all it takes. (Read 494 times)
To be honest, trying to explain crypto to someone that sees it a whole different way is draining to an extent. I meet a lot of people that have just categorized crypto as a scam and they see everybody involved in it as foolish or a fraud. In fact, some just instantly see you as an internet fraudster if you tell them you're a crypto trader.
It's like trig to convince a madman that he's a madman. Both of you will end up looking like man men. So most times I just don't engage but if the person is someone that is willing to learn I explain further.
Are there still people who think that way about cryptocurrencies in a world like today where there is so much knowledge and information available at one's fingertips? Such people will surely regret their mistakes in the future, and they are supposed to be taught how to do simple Google searches where they can easily find out what cryptocurrencies are.It's like trig to convince a madman that he's a madman. Both of you will end up looking like man men. So most times I just don't engage but if the person is someone that is willing to learn I explain further.
I personally prefer ignoring such people and their vicious questions or cross-questions when you are explaining it to them, all they deserve from us is getting ignored by us and no explanation at all. They will learn it the hard way by themselves.
After the FTX fraud spreads to every corner in my country my friends are saying crypto is the biggest scam of all, they said one day everything will reveal, this is coming from those that shows no interest in crypto at all even when I tried to confuse them but I did something right.
Indeed, at this time crypto is still very foreign to the ears of many people, in every country it may have the same thing in common. With the lack of knowledge about crypto in the community, when there is negative news that comes to their ears, surely that news will become a strong grip for them, about their point of view on crypto. Just like your friends, they seem to already know and have heard of crypto, but they didn't research the crypto in depth, and finally when the news of the FTX scam came out, they immediately convicted that all crypto is a path for fraud.So in essence, don't listen too much to the words of people like your friend, let them say anything about crypto, because that is freedom of opinion and rights. It's also okay to give them input, because giving enlightenment is not a bad thing, but if I was in your position, I usually ignore opinions like that, because in my personal opinion, not everyone has to like crypto, if they like crypto, then they are in line with us, but if they don't like crypto, that's okay, it doesn't hurt me either.
FTX issue brought skepticism to cryptocurrency aside from those who doubted it before, Some people who are into crypto or just started will likely be skeptical about it now. But we all know there would be a bounce back and when that happens, People will trust cryptocurrency more.
For sure the Fxt problem caused shock wave and skepticism more for folk that were already being doubtful cryptocurrency to add to the skepticism, the whole year of 2022 was a totally bad year for crypto and it replicated badly and throughout of the year 2022 young and new investors were also been skeptical about the drastic fall of bitcoin to as low as 16k which spoked a lot of people that are coming into the crypto space.This skepticism is what hinders new people from coming in the cryptocurrency world. Most of the time, social media and news mislead these people into thinking that cryptocurrencies are somewhat of a scam, which can be quite destructive for its image in the long-run.
Unfortunately, the only way to counter misinformation is by explaining it to them about the fundamentals and opportunity of BTC. Personally, I have seen more negative reviews and comments about cryptocurrencies than positive ones. In the eyes of a beginner, this kind of experience makes it difficult for them to trust and believe what they are investing on.
I just hope that there is some way to remedy this solution. Though this may be the case, I strongly believe that one good explanation is all it takes and this forum is the perfect platform to remove any doubt/skepticism about anyone who is planning to join this opportunity.
To be honest, trying to explain crypto to someone that sees it a whole different way is draining to an extent. I meet a lot of people that have just categorized crypto as a scam and they see everybody involved in it as foolish or a fraud. In fact, some just instantly see you as an internet fraudster if you tell them you're a crypto trader.
It's like trig to convince a madman that he's a madman. Both of you will end up looking like man men. So most times I just don't engage but if the person is someone that is willing to learn I explain further.
It's like trig to convince a madman that he's a madman. Both of you will end up looking like man men. So most times I just don't engage but if the person is someone that is willing to learn I explain further.
FTX issue brought skepticism to cryptocurrency aside from those who doubted it before, Some people who are into crypto or just started will likely be skeptical about it now. But we all know there would be a bounce back and when that happens, People will trust cryptocurrency more.
For sure the Fxt problem caused shock wave and skepticism more for folk that were already being doubtful cryptocurrency to add to the skepticism, the whole year of 2022 was a totally bad year for crypto and it replicated badly and throughout of the year 2022 young and new investors were also been skeptical about the drastic fall of bitcoin to as low as 16k which spooked a lot of people that are coming into the crypto space. 
Sometimes it is good to enlightened someone on something for him or her to be familiar with it
In the past few years since crypto currency was introduced many still find it hard to believe it is real although they have no idea which made them to be that way but I believe if they were educated on e importance and the benefits they will be of a great partakers
Most people discouraged after finding it difficult to understand at first so they quit on the other hand people get tired of teaching others because they felt tired of much explanations
No doubt,you are very right mate,I felt same way when a friend of mine introduced it to me,I knew nothing about it as at then,he kept on educating me,telling me all about it,showing me what to do,he persistently showed me,untill I picked interest in it. Now atleast I can tell people a little about Bitcoin and crypto currency,so most time,it is good to constantly teach them, encourage them to try it,because lack of understanding can really bring frustration.If they don't understand it,they will feel frustrated,and you teaching them will feel discouraged as well.We just need to try our best to try to enlighten them in other to erradicate joblessness and poverty in our locality.In the past few years since crypto currency was introduced many still find it hard to believe it is real although they have no idea which made them to be that way but I believe if they were educated on e importance and the benefits they will be of a great partakers
Most people discouraged after finding it difficult to understand at first so they quit on the other hand people get tired of teaching others because they felt tired of much explanations
Indeed, it is important to understand the difference between cryptocurrencies and private companies that use cryptocurrencies but are not cryptocurrencies themselves. FTX is a cryptocurrency exchange that uses blockchain technology, but it is not a cryptocurrency itself. Cryptocurrency is a digital asset that uses blockchain technology to ensure transparency, security and immutability of transactions.
However, as with any other technology, cryptocurrencies can be used for fraud. It is important to remember that cryptocurrency is not a magical solution to all problems and does not guarantee fraud protection. But, if properly used blockchain technology and cryptocurrency, they can provide a high level of security and transparency.
If your friends and family have doubts about cryptocurrency, explain to them that cryptocurrency is a technology that can be used for both good and bad purposes, just like any other technology. Ask them to study the technology and make a decision based on their own experience and knowledge.
However, as with any other technology, cryptocurrencies can be used for fraud. It is important to remember that cryptocurrency is not a magical solution to all problems and does not guarantee fraud protection. But, if properly used blockchain technology and cryptocurrency, they can provide a high level of security and transparency.
If your friends and family have doubts about cryptocurrency, explain to them that cryptocurrency is a technology that can be used for both good and bad purposes, just like any other technology. Ask them to study the technology and make a decision based on their own experience and knowledge.
Sometimes it is good to enlightened someone on something for him or her to be familiar with it
In the past few years since crypto currency was introduced many still find it hard to believe it is real although they have no idea which made them to be that way but I believe if they were educated on e importance and the benefits they will be of a great partakers
Most people discouraged after finding it difficult to understand at first so they quit on the other hand people get tired of teaching others because they felt tired of much explanations
I will definitely count myself a victim of such misinformation, because ever since I heard about bitcoin I have had Ill thinking and view towards it and to be clear it was the particular bitcoin that I had this hatred for and for reasons you won't particularly blame because of the massive pornzi scheme going on in my locality then and the rate of people that were being defrauded and I blame all this on the bitcoin trend that was circulating everywhere but just as you said it took only some few explanation and enlightenment for me to properly understand that I have been in dark for long toward this cryptocurrency trend that was going on in my locality and am just glad today that I was directed here for further learning and I can boldly say that the little information I got has definitely helped alot in my own journey. In the past few years since crypto currency was introduced many still find it hard to believe it is real although they have no idea which made them to be that way but I believe if they were educated on e importance and the benefits they will be of a great partakers
Most people discouraged after finding it difficult to understand at first so they quit on the other hand people get tired of teaching others because they felt tired of much explanations
After the FTX fraud spreads to every corner in my country my friends are saying crypto is the biggest scam of all, they said one day everything will reveal, this is coming from those that shows no interest in crypto at all even when I tried to confuse them but I did something right.
I sent them a message through WhatsApp explaining to them that FTX is not crypto, that FTX is a private company that people aren't supposed to trust because it's centralised but they do and in the end FTX illegally use their money for their own selfish interests.
Then I went on to tell them how crypto is very different to FTX, complete transparent and immutable is what crypto is compared to FTX and I was able to confuse two friends after this explanation, now they want to know more.
I have come to realize that many people bad mouthing crypto don't do a single research on the technology first ( complete disregard ) so I urge you to explain more to those ( friends and families ) that call or will call crypto a scam all in the name of what FTX did with customers' fund.
Op thank you for the explanation. Many people are misunderstanding the exchange platforms for cryptocurrency. But you wouldn't try to explain Bitcoin and exchange for them because your effort would still be turned down since they were not interested to use Bitcoin in any way. Even till date many people still believe that crypto currency is bad I anyone who is involved in crypto currencies is also a bad person. And because of that I just locked up my mind not to tell anyone about bitcoin again. I sent them a message through WhatsApp explaining to them that FTX is not crypto, that FTX is a private company that people aren't supposed to trust because it's centralised but they do and in the end FTX illegally use their money for their own selfish interests.
Then I went on to tell them how crypto is very different to FTX, complete transparent and immutable is what crypto is compared to FTX and I was able to confuse two friends after this explanation, now they want to know more.
I have come to realize that many people bad mouthing crypto don't do a single research on the technology first ( complete disregard ) so I urge you to explain more to those ( friends and families ) that call or will call crypto a scam all in the name of what FTX did with customers' fund.
Sometimes it is good to enlightened someone on something for him or her to be familiar with it
In the past few years since crypto currency was introduced many still find it hard to believe it is real although they have no idea which made them to be that way but I believe if they were educated on e importance and the benefits they will be of a great partakers
Most people discouraged after finding it difficult to understand at first so they quit on the other hand people get tired of teaching others because they felt tired of much explanations
In the past few years since crypto currency was introduced many still find it hard to believe it is real although they have no idea which made them to be that way but I believe if they were educated on e importance and the benefits they will be of a great partakers
Most people discouraged after finding it difficult to understand at first so they quit on the other hand people get tired of teaching others because they felt tired of much explanations
Fiat is the biggest scam of all.
Centrally controlled cryptos that can be printed out of nothing just like fiat are also a scam.
Bitcoin and ONLY Bitcoin is decentralized and outside of the control of any single entity.
All you can do with your friends, is to honestly answer and address all of their concerns they send your way and to humbly keep stacking sats. They will laugh at you today but when the price recovers to what it was before this whole FTX fiasco, some will just call you lucky while your true friends will humbly admit that they should have listened to you.
What's so annoying for me personally is that my friends love to troll me when the price dumps like is recently has but then ask me how to get in when the price is hitting all time highs. I have to constantly remind them that buying when the price is low and hodling for a few years is how you increase your purchasing power yet none of them listen to me.
I just have to be content with them staying poor while progress without them.
Centrally controlled cryptos that can be printed out of nothing just like fiat are also a scam.
Bitcoin and ONLY Bitcoin is decentralized and outside of the control of any single entity.
All you can do with your friends, is to honestly answer and address all of their concerns they send your way and to humbly keep stacking sats. They will laugh at you today but when the price recovers to what it was before this whole FTX fiasco, some will just call you lucky while your true friends will humbly admit that they should have listened to you.
What's so annoying for me personally is that my friends love to troll me when the price dumps like is recently has but then ask me how to get in when the price is hitting all time highs. I have to constantly remind them that buying when the price is low and hodling for a few years is how you increase your purchasing power yet none of them listen to me.
I just have to be content with them staying poor while progress without them.
When people don't understand how a system works the spread FUD out of their own ignorance. The reason i also take my time to do detail explanation when i have crypto discussions with novices. I come to realise FUD spreads so fast and as it gets to people with little or no idea the start to panic even when most of them don't have a stake in the crypto business. It is the duty of the Crypto communities to educate and enlighten no matter how hardened this fellows try to be on the information delivered besides most of us were once hardened as regard Crypto related matters but today we are so informed about how it works and we too should di same for as many we come across.
After the FTX fraud spreads to every corner in my country my friends are saying crypto is the biggest scam of all, they said one day everything will reveal, this is coming from those that shows no interest in crypto at all even when I tried to confuse them but I did something right.
I sent them a message through WhatsApp explaining to them that FTX is not crypto, that FTX is a private company that people aren't supposed to trust because it's centralised but they do and in the end FTX illegally use their money for their own selfish interests.
Then I went on to tell them how crypto is very different to FTX, complete transparent and immutable is what crypto is compared to FTX and I was able to confuse two friends after this explanation, now they want to know more.
I have come to realize that many people bad mouthing crypto don't do a single research on the technology first ( complete disregard ) so I urge you to explain more to those ( friends and families ) that call or will call crypto a scam all in the name of what FTX did with customers' fund.
I have concluded with myself that I can't spill energy anymore trying to convince anyone that shows no interest in cryptocurrency especially as it concerns bitcoin, am of the opinion that the benefits and financial freedom I am enjoying from cryptocurrency both in investments and trade's should do the convincing for me to anyone out there. I sent them a message through WhatsApp explaining to them that FTX is not crypto, that FTX is a private company that people aren't supposed to trust because it's centralised but they do and in the end FTX illegally use their money for their own selfish interests.
Then I went on to tell them how crypto is very different to FTX, complete transparent and immutable is what crypto is compared to FTX and I was able to confuse two friends after this explanation, now they want to know more.
I have come to realize that many people bad mouthing crypto don't do a single research on the technology first ( complete disregard ) so I urge you to explain more to those ( friends and families ) that call or will call crypto a scam all in the name of what FTX did with customers' fund.
Cause it's so unscrupulous on how certain persons would just jump into criticizing, condemning and badmouthing something they have not gotten an insight about. It's better I poured out my energy to those people that shows interest to know and wanna learn cause it would be a lot easier for me bring them to light as against the latter.
I have come to realize that many people bad mouthing crypto don't do a single research on the technology first ( complete disregard ) so I urge you to explain more to those ( friends and families ) that call or will call crypto a scam all in the name of what FTX did with customers' fund.
You can help people understand that Bitcoin isn't a scam by providing them with accurate information about the technology, its use cases, and its potential benefits and drawbacks. You could also share examples of successful Bitcoin adoption and use cases, or point them towards resources that will help them understand what the technology is and how it works. You can also help debunk common misconceptions about Bitcoin, such as that it's only used for buying drugs or other illegal goods. It is important to recognize that some people may have legitimate concerns about the risks associated with investing in Bitcoin or other cryptocurrencies since it is a relatively new and, for many, complex technology, and there have been numerous cases of scams or fake projects in the past. This is why it might be helpful to acknowledge any valid concerns they may have and provide them with information that can help them make an informed decision. Ultimately, the decision to invest in Bitcoin or any other cryptocurrency should be personal and based on your own research and assessment of risks and potential rewards.
my friends are saying crypto is the biggest scam of all
Fiat money is the biggest scam of all. Think about it 
But if there is no fiat, bitcoin may not be worthy, fiat makes it worthy because people know that fiat value is reducing but bitcoin can be bought at low price and left for years to increase in price. But if fiat do not exist, there is still possibility that bitcoin will still exist though because it looks more like valuing old/traditional asset like gold in digital form with only just little differences.
even when I tried to confuse them but I did something right.
I think you didn't try to confuse them rather you tried to convince them.Then I went on to tell them how crypto is very different to FTX, complete transparent and immutable is what crypto is compared to FTX
Tell your friends that you meant bitcoin and not crypto. There are some altcoins and shitcoins worse that FTX. Don't make them to feel relaxed with crypto rather with bitcoin. 
I wouldn't care to teach anybody about crypto because the last time I did that few people called me a useless being, the type that has no job and any value, I just smile and move on, I will wait for the day where they will be forced to ask me again, I know that day will come but it will be too late already.
Be careful when teaching people about normal things they should know, once they know you are into the thing and making money you can be a target too.
Be careful when teaching people about normal things they should know, once they know you are into the thing and making money you can be a target too.
~
Boss pooya87 correct me if I am wrong, you said that Fiat is not money that it's currency, how is that when currency is simply one tangible form of money? Also crypto ends with currency too, is Bitcoin not cryptocurrency? Bitcoin fits money more than Fiat? damn I'm confused.
Money is something that can be used as store of value and can maintain its purchasing power over long periods of time. Money is also fungible, divisible, medium of exchange, ...Boss pooya87 correct me if I am wrong, you said that Fiat is not money that it's currency, how is that when currency is simply one tangible form of money? Also crypto ends with currency too, is Bitcoin not cryptocurrency? Bitcoin fits money more than Fiat? damn I'm confused.
A currency is all that (fungible, divisible, medium of exchange) minus the store of value part (ie. maintaining purchasing power).
Fiat is currency because it can not be used as store of value and it does not maintain its purchasing power over long periods of time (that is what inflation is and all fiats have it).
A cryptocurrency that can be used as medium of exchange can be called a currency. Majority of altcoins (specially tokens) can not, so they are not currencies (they are gambling tools).
As for bitcoin, it is a currency not money because even though it is being used as a medium of exchange and people refer to it as a store of value but its purchasing power is not fixed and it can rise or fall significantly.
You are correct that bitcoin fits the description of money more than fiat. That's because of the limited supply it has but until mass adoption things will remain volatile and bitcoin remains closer to the definition of currency than money IMO.
P.S. Search "Mike Maloney" on Youtube, he has very good stuff about money/currency and economy.
this is a bad influence caused by the FTX issue, so new users will say that crypto is not safe anymore and crypto should be shunned. Whereas FTX is only a centralized exchange that does not have any responsibility for misusing user money so that they collapse.
When your friends say that crypto is the biggest scam they don't believe in crypto anymore and consider all of them the same. We as crypto activists who understand crypto really have to provide education as clear as possible so they don't always think crypto is always bad. We or they have to do research to find out what we are using as in crypto. FTX is a fraud centralized exchange, and crypto is a digital currency that has many types, including Bitcoin which is.
When your friends say that crypto is the biggest scam they don't believe in crypto anymore and consider all of them the same. We as crypto activists who understand crypto really have to provide education as clear as possible so they don't always think crypto is always bad. We or they have to do research to find out what we are using as in crypto. FTX is a fraud centralized exchange, and crypto is a digital currency that has many types, including Bitcoin which is.
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