Problems with Explaining Cryptocurrencies to People

zeddjacob (51)in #cryptocurrency • 7 years ago (edited)

As you can probably tell from my posts, I’m kinda hooked into all things crypto. And I would love more filipinos, starting with my friends and family, to hop in the spaceship before it leaves for the moon. That’s why I post brief explanations of startups or already existing services that requires no investment other than time and effort in order for them to get a headstart. The problem is…

They Just Cannot Understand

First of all, this is obviously given although I’d really like to point this out, and this is not a generalization, just listen and you’ll get the hang of it though...

It’s just that the whole concept of blockchain is somewhat comparable to a tree that seems to have an infinite number of branches. They don’t know how helpful cryptocurrencies are for others and themselves. The general questions I hear about blockchain from them is either; they don’t know why it has value even if it’s something you can’t hold or how can it be decentralized or its written in the bible that one day the world will be governed with one evil ruler and one currency (potentially Bitcoin)*, etc..

My take on this is that a cryptocurrency is given value because the people who invest in it see the imaginary value for it. Like gold, aliens on other planets might not recognize gold nor see value in it for probable reasons like it’s abundant and its trash. On the other hand, we humans see its beauty and rarity that’s why we made it a store of value. Even dragon lores can’t be worth that much without people seeing value in these fictional, non-existent, can’t-hold-it-in-my-hand items.

Another one is the decentralization thingy which boggles heads aplenty. From my knowledge, cryptocurrencies will heavily rely on the community that again, sees value in it, not on governments and banks. Because the goals of cryptocurrencies is to cut the taxes and let the people own what they own, make transactions legitimate so people can protect themselves from themselves, and many more. Miners do the job of storing copies of the ledger, proofreading transactions on the blockchain and solving the blocks itself. While we do our own thing, making transactions. (you can probably search this on google since its tedious to write that)

Religion is very subjective and opinionated. These question may seem irrelevant but to think that religion can unite—or divide—millions of people, it should be cleared out. I, myself, is a Roman Catholic. I go to church every sunday and listen to the homily (most of the time). I’ve also went to lively preaches of Born-Again Christian pastors. I can say that I’m equipped to answer the question. And the answer is… I’m not sure. Just what I said, it’s subjective and opinionated which means different people can have different answers and its complicated. Right now, I can’t clear this question out, but maybe you can! Comment down below what your answer is…

In the Meantime

Just do your thing, do what you love and broaden your knowledge about crypto. Maybe you’ll learn something that can make interesting points to those who can’t understand crypto. I’m still in that journey and I plan to continue that until poverty is gone.