During the holidays of 2016, 2017 and even 2018, much was said about bitcoin at the dining table and during drinks. Cryptos were a popular topic of conversation. That time seems to be over. But why?
Is bitcoin really dead as a topic of conversation?
The rate of bitcoin is twice as high as in December 2018. Yet the only thing you hear from friends and family is: Bitcoin is not doing well?
You can’t blame them, especially if you see your family only during the holidays and only then talk to them about bitcoin.
Two years ago, with the biggest smile on the gourmet set, we were a bit tough about buying a lambo in January.
Nothing came of that lambo because we still cycle through the rain to the station every day. Even Stephen Colbert makes fun of bitcoin as a conversation topic (around 1 minute):
– The Late Show (@colbertlateshow) November 8, 2019
Google Trends can substantiate this. Less and less is being searched for bitcoin.
And worst of all, nobody asks anymore which coin to buy or when to get into Bitcoin. But don’t hold back, if you want to chat about bitcoin with your friends and family, make an effort. After all, the price is twice as high as a year ago.
Mark Helfman, the author of Consensusland, has ideas about this. He describes himself as someone who is completely in the crypto world but still spends 95 percent of his time with people who have nothing to do with crypto or blockchain. He does not belong to the “bitcoin fixes this” public.
He divides people into four groups:
- normal people
- 2017 people
- tech professionals
Normal people ask questions like: “What is bitcoin doing again?” And: my nephew also did something with bitcoin, you too? “Bitcoin has no value and is a pyramid scheme?”
2017 people really have no idea but bought some bitcoin in 2017 when everyone else did. They are all in the minus and keep their coins until they are in the plus again. But you and I both know they won’t sell their coins on time. “It was fun while it lasted.” Their experience is not too good.
The techies find crypto boring and risky. They understand the blockchain but are skeptical about bitcoin. They look at the technical side and see a collection of old techniques. But they don’t understand the impact that bitcoin can have on the economy and our financial world. Why bitcoin can be so revolutionary.
And the true one skeptics? They don’t care. They don’t understand the tech, but the business side. At least, they think so. “Bitcoin is too slow and too volatile.” They appreciate the idea of a shared ledger but tell you that a normal database is good too, because she was told two years ago.
Helfman says he speaks a lot with people who have read his book. Young people, even if they don’t quite understand, see the potential of bitcoin. Certainly after reading Consensusland. In general, the elderly do not get it.
He says: “Most people only use cash. Some shop online, but usually not. A few are still printing their emails. They have used the same currency all their lives and many believe it is supported by gold. Of course bitcoin does not make sense for them.
His advice: Take it easy with the elderly. We grew up with computers and internet, bitcoin should not be difficult for us. But even our generation is struggling. Why do you think an entire industry has been set up to make bitcoin simpler, provide training, build more user-friendly apps and ensure that you can buy bitcoin quickly with iDeal?
Best advice of the year
And should it really not be possible to have a normal conversation about bitcoin at Christmas, then Helfman has good advice for you:
Bitcoin will always be there for you, not your friends and family.