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Author Topic: Ok guys, Need some help with a negative friend!  (Read 910 times)
jc89
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November 04, 2017, 04:23:36 PM
 #21

Hi guys, I have a friend who is determined to prove me wrong in regards to bitcoin. Before I respond to him, I thought I would post what he's wrote to me in attempt to "Stump" me and try to get me to stop with bitcoin. I think it will be interesting to see all replies from the bitcoin experts in here and to get a different reply than mine so I can put together a solid reply back. I'll post his email to me below. Thanks in advance.


"I read a lot of the negative aspects of bitcoin and I'm not understanding why you're crazy over it, it keeps appreciating because nobody is cashing out. Since it's not a government regulated currency to exchange, people are getting robbed left right and center going on these black market sites trying to cash out. I don't doubt you can sell the coins, but now people are afraid to try because there's no legitimate way to tell if you loose your money. People are running ponzi schemes because when you trade in the coins there's waiting periods before you get the "cash" and thats when these website wrap shit up and leave you high and dry. I remember you telling me that you can spend the coins in many natural places. That's isn't here in Canada. There is way too much negativity to support the investment for me. The positives are what's making the coin valuable, but in order for something to go up in value dramatically like this we have to think that it's not being sold anywhere and being the rare commodity that is it will naturally go up due to scarcity.
I really think you're making a big mistake with this stuff like everyone else."

You know you should just ignore what he's saying. He's a lost cause and you don't have to prove anything to him. What he said is a clear sign that he isn't and will never be into btc and any other cryptos. Just do your thing, continue with what you're doing whether trading or just simply investing. Once you've gained a lot maybe one day you can email him and ask him how he is doing and then simply tell him something like, "You know I continued investing in btc even though you emailed me all those things and right now I'm having the great time of my life here in Bahamas!" I have friends that I've told about btc months ago but didn't really minded me and now they're all over my messenger asking me for advice how to start in btc. Who knows maybe someday that friend of yours will come around and realize all the good stuff btc has to offer.

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November 04, 2017, 04:49:13 PM
 #22

There's nothing you can do if your friend really hate bitcoin, but usually the best response are either show that many government/services accept/open with bitcoin OR simply tell someone to shut up if he don't really understand how bitcoin works.
Also, i think your friend got fed by negative press in past or another people who hate bitcoin/decentralized system.

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November 04, 2017, 05:14:42 PM
 #23

From your friend’s email, it is obvious that he is not open to BTC. He thinks that BTC is a scam with low value.

It is not easy to change a person mind, especially an adult. I will advise you to leave him alone. I believe if the person is open minded and willing to try crypto, he will find all sort of ways to get in.

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November 04, 2017, 05:14:56 PM
 #24

He's quite right about nobody cashing out and prices going up dramatically due to scarcity. But we like the danger!

"Since it's not a government regulated currency to exchange, people are getting robbed left right and center going on these black market sites trying to cash out." and "ponzi" parts are bullshit, though.
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November 04, 2017, 06:08:09 PM
 #25

You know at one stage in history, people believed the earth was flat and they only believed this, because they were told by

other people that it was flat. I sometimes wonder why they did not consider that the earth might have been round, if they

looked at the Moon and the Sun. Your friend clearly knows very little about Bitcoin, but wants to tell you that the earth is

flat. {The media and the governments says so, so it must be} .... Bitcoin is a very disruptive technology and it disrupts a

lot of old systems. {People who told other people that the earth is flat} The moment when you start looking out of the box,

you will get the bigger picture.  Wink

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November 04, 2017, 06:11:56 PM
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These been a lot more scams and hacks with fiat than it has with Bitcoin so that isn't a valid excuse I just think Bitcoin is more documented than fiat currencies.
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November 04, 2017, 06:43:51 PM
 #27

"I read a lot of the negative aspects of bitcoin and I'm not understanding why you're crazy over it, it keeps appreciating because nobody is cashing out.

This is not true.  Many people are exchanging bitcoin for their local currency every day.  As a matter of fact, there are EXACTLY the same number of exchanges of local currency for bitcoin as there are of bitcoin for local currency.  Since EVERY exchange of bitcoin for local currency involves BOTH currencies being exchanged, if you think about it for a moment perhaps you'll see why this MUST be true.

The exchange rate keeps going up because there is a very limited supply and an increasing demand.  Read about the "law of supply and demand" and you'll better understand how this works.

Note that there is a limit on the total amount of bitcoins that will ever exist.  There will never be more than 21 million bitcoins.  Imagine if the 22 million RICHEST people in the whole world all wanted to own just 1 bitcoin...  There wouldn't be enough bitcoin for them to do that.  The price would keep increasing until one of them decided that it was too expensive and they no longer wanted one.  Imagine just how expensive 1 bitcoin would be under that circumstance.  Or, imagine that the 220 million richest people in the whole world all wanted to own just 0.1 bitcoin... There wouldn't be enough bitcoin for them to do that.  The price would keep increasing until 10 million of them decided that it was too expensive and they no longer wanted one.

Since it's not a government regulated currency to exchange, people are getting robbed left right and center going on these black market sites trying to cash out.

Intelligent people don't use black market sites.  I'm not sure what country you are in, but in the U.S.A. bitcoin exchanges are all regulated by the U.S. government.  Some of them (such as Coinbase.com) are even insured by a major global insurance company.

Criminals will always take advantage of foolish people.  People using their local currency are "robbed left right and center" every day.  Does that mean you are going to stop using your local currency? Or does it just mean that you are careful?

I don't doubt you can sell the coins, but now people are afraid to try because there's no legitimate way to tell if you loose your money.

Absolute nonsense.  As I said, there are insured regulated exchanges in the U.S.  It is also possible to exchange local currency for bitcoins in person where you can know immediately if you have been paid or not.  People who are careful and take a few moments to make sure they know what they are doing are not "afraid to try" any more than they are "afraid to try" to purchase something from Amazon.com.

People are running ponzi schemes because when you trade in the coins there's waiting periods before you get the "cash" and thats when these website wrap shit up and leave you high and dry.

Ponzi schemes exist.

They exist with local currencies.   Do you still use your local currency? They exist with stocks. Are you still planning on investing for your retirement? They exist with real estate. Are you still planning on living in a building? They exist with postage stamps (Are you familiar with where the term Ponzi scheme actually comes from?).   Do you still send or receive snail mail?

They also exist with Bitcoins.  Use a little common sense, understand how they work, and avoid them.  You can still use Bitcoin, just like you still use all those other things of value that people run Ponzi schemes on top of.

I remember you telling me that you can spend the coins in many natural places. That's isn't here in Canada.

You are wrong:
https://coinmap.org/#/map/43.66091757/-79.41055298/9

There are more than 50 places in the Toronto area that all accept bitcoin.

Additionally...   Are you able to use any of the following websites in Canada?  They all accept bitcoins:
  • Overstock.com
  • Expedia.com
  • NewEgg.com
  • Dell.com
  • Dish.com
  • Wordpress.com
  • Microsoft (Xbox content and Windows store)
  • Namecheap.com
  • CheapAir.com
  • Steam Gaming Platform
  • HumbleBundle.com
  • BigFishGames.com

There is way too much negativity to support the investment for me.

There is a lot of negativity in the world. That doesn't stop me from living. Perhaps learn a bit more about bitcoin instead of just repeating things that you heard but didn't understand?  It's amazing how education can overcome negativity in just about all areas of life.

The positives are what's making the coin valuable,

Correct.

but in order for something to go up in value dramatically like this we have to think that it's not being sold anywhere

It is being sold in a LOT of places. If it was not, then the exchange rate could not go up. The exchange rate can ONLY change if it is actually EXCHANGED.  That's why it is called an EXCHANGE RATE.

and being the rare commodity that is it will naturally go up due to scarcity.

Yes.  There is a limit on the total number of bitcoins that will ever be created.  Additionally, there are less of them being created now than there were 4 years ago, and there were less of them being created then than there were 4 years before that.  A limited supply does not automatically make something valuable.  I drew a picture on a piece of paper today, and it is a one-of-a-kind.  There is no other picture exactly like it created by me anywhere in the world.  Yet, somehow it isn't very valuable to anybody else?  Why? Because for something to have a high value there also needs to be a high demand for it.  People need to want to have it.  This is why my picture is essentially worthless, and the Mona Lisa is essentially priceless.  Bitcoin is both limited in supply AND desired by many.  Like ALL things of value in this world, the fact that people want to have and use it COMBINED with it's scarcity is why the exchange rate continues to increase.  Eventually it will reach such a high exchange rate that less people will want to own as much of it (just too expensive for them to afford).  At that point it will finally reach an equilibrium and the price will stabilize.  With only 21 million bitcoins, and more than 7.5 billion people in the world, would you like to take a guess at just how high that equilibrium price will be?  Are you going to wait until it gets to that extremely high price before you own any?  Or would you prefer to acquire some now before most people have decided they are comfortable owning any and the exchange rate is still very low?

I really think you're making a big mistake with this stuff like everyone else."

You are welcome to your opinion.  One of us will be right, and one of us will be wrong.

If I choose to own $100 of bitcoin today, and I'm wrong...  I will lose $100.

If you choose NOT to own $100 of bitcoin today, and you are wrong (lets imagine for a moment that the exchange rate increased to $70,000 per BTC over the next 10 years)...  You just might lose out on the opportunity to be holding $10,000 worth of bitcoin 10 years from now.

If I'm making a mistake, it is a small mistake ($100).
If you are making a mistake, it is a BIG mistake ($10,000).

Are you sure you want to take that risk?

WOW! Thank you so much for this! This helps alot. I used your post and my personal thoughts and put together an email and sent it off to him. Thanks again!
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November 05, 2017, 12:13:28 AM
 #28

Nothing your friend said even made any sense. He is just saying things off the top of his head without thinking. Everything he said was wrong. I use Bitcoin to pay for things on a weekly basis I sell it sometime for fiat. It takes less then half an hour and most of the time 5 or 10 minutes so I'm not sure what sort of nonesense this friend of yours is talking here. Many big online shops here accept Bitcoin as well. I can buy everything I need with Bitcoin excluding food and petrol and electricity and water and taxes. All those things are fiat.

Here is an example of things I have paid for with bitcoin.

A complete PC. Electronics. Video games. Video game consoles. Coffee machine. Coffee. Board games. A plush toy. Some clothing. Shoes. Should I go on?

All these things delivered to my doorstep paid for with bitcoin and includes buyer protection.

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November 05, 2017, 12:26:01 AM
 #29

Well, he isn't totally wrong. Bitcoin price is increasing because people aren't cashing out, there is demand, so the price increases and no one regulate it. That is the idea of Bitcoin and he knows it, he just doesn't have faith that it will work and as I see there is nothing you can do about it, it's about beliefs.  Smiley

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November 05, 2017, 02:09:32 AM
 #30

i think we all have negative friends, it's just a matter of the perspective, if they are satisfied with the old ideology that money cannot be decentralized, just respect their decision, and in time you will prove yourself. i got this experience from almost all my friends, they were laughing at me when i introduced bitcoin to them, earlier this year, they were all like, its a scam, they will watch me if ever i get successful with bitcoin, and so on. i think it also matters, to where you live, i live in a country, wherein if you tell them a good investment, rather than helping you or wanting to go along with you, what they really want is to see you fall, however if your will is strong, it won't affect you, and just what i've experienced, the idea of bitcoin was rejected before and now that bitcoin is in the news, they are asking me if i'm rich already, and whenever i tell them i'm still doing m best, since it is an investment, there is an amount of time you need to take care of it so it will grow, and what they say today is, if i didn't get rich, why would they try bitcoin and it is all hype. i just respect their decision since i know what i am doing, and in time, for sure, they will ask me about it, when the value is high.

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November 05, 2017, 02:25:53 AM
 #31

Send him a cut and paste of the daily volume from your favorite exchanges and explain for someone to buy those, someone else had to sell them.    Then stop talking to this friend about bitcoin, he is not interested and you are wasting your time.   
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November 05, 2017, 02:33:27 AM
 #32

It is obvious that your friend is not interested in Bitcoin and has no trust on bitcoin. And also i think he will not be agree with any bitcoin expert although they tried to talk to him (my opinion). So just let him be.
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November 05, 2017, 02:40:44 AM
 #33

Hi guys, I have a friend who is determined to prove me wrong in regards to bitcoin. Before I respond to him, I thought I would post what he's wrote to me in attempt to "Stump" me and try to get me to stop with bitcoin. I think it will be interesting to see all replies from the bitcoin experts in here and to get a different reply than mine so I can put together a solid reply back. I'll post his email to me below. Thanks in advance.


"I read a lot of the negative aspects of bitcoin and I'm not understanding why you're crazy over it, it keeps appreciating because nobody is cashing out. Since it's not a government regulated currency to exchange, people are getting robbed left right and center going on these black market sites trying to cash out. I don't doubt you can sell the coins, but now people are afraid to try because there's no legitimate way to tell if you loose your money. People are running ponzi schemes because when you trade in the coins there's waiting periods before you get the "cash" and thats when these website wrap shit up and leave you high and dry. I remember you telling me that you can spend the coins in many natural places. That's isn't here in Canada. There is way too much negativity to support the investment for me. The positives are what's making the coin valuable, but in order for something to go up in value dramatically like this we have to think that it's not being sold anywhere and being the rare commodity that is it will naturally go up due to scarcity.
I really think you're making a big mistake with this stuff like everyone else."
I don't see any sense in the email of your friend brother. The only thing your friend knows abut bitcoin is negative stuffs like that ponzi schemes, because its not government related currency etc. Never mind your friend and don't bother to convince him/her because at first place he/she doesn't believe in bitcoin. There are many people around the world which you can advertise about bitcoin or try to say it to your relatives or to other friends. Maybe they are interested with it.

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November 05, 2017, 03:25:55 AM
 #34

From your friend’s email, it is obvious that he is not open to BTC. He thinks that BTC is a scam with low value.

It is not easy to change a person mind, especially an adult. I will advise you to leave him alone. I believe if the person is open minded and willing to try crypto, he will find all sort of ways to get in.

I agree with you @Caesar, forcing ourselves to believe in us is a difficult thing, stay on your path and you'll know where you're going.

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November 05, 2017, 04:24:03 AM
 #35

Not every person is open minded. There are some who's negative like your friend. There are lot of reasons why they are negative about bitcoin. It can be that they don't understand what are we doing, what bitvoin is, why are we doing this. But there are some that is just want to against on your wants. There are some person that really wants to pull us down to be like them. So be carefull for that kind of person. If your friend is negative about it then let him be. You have your own mind. So don't let other person controls you and stop you for aiming for your future.

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November 05, 2017, 04:48:39 AM
 #36

they are free to express their thoughts about bicoin, the conclusion back to you, whetehr is good you take, and what is bad you left it, leave their thougths not the person, don't lose your friend just because bitcoin. good luck. CMIIW Smiley

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November 05, 2017, 04:54:13 AM
 #37

Why not just ignore him? You don't owe him an explanation. I mean, he obviously doesn't know what he's talking about, with the way he brought up confirmation times and how websites use that to exploit users.

Personally, I would at least try to correct his misconceptions. If he's still negative about it, I would simply ask him to agree to disagree. I'm guessing you are both grown ass men so neither of you need any lecturing.

pootutus
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November 05, 2017, 05:00:04 AM
 #38

Only stay in the past, will have such thoughts, you stop using bitcoin. It's very negative, you know, the world is moving forward, moving forward, and developing all the time. Block chain already is the trend of the world, not for many years, will be popular.
aizen10
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November 05, 2017, 05:01:20 AM
 #39

your friend has a totally negative mind about bitcoin, i think its because of those fake news that came out somewhere whole over the net and brings your friend on that negative thinkin, and i think you cannot change him/her mind to be involve in bitcoin, dont push any harder to explain more about bitcoin on your friends, its enough to him/her that you tell all about bitcoin and its up to him/her whether she/he decided to not get involve and still have that negative mind, the most important thing is you already tells the good news about bitcoin and it not your fault if she/he didnt see that, sooner or later that thoughts he/she had will blow on her/his face and saying your right.

arlinxoha
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November 05, 2017, 08:35:57 AM
 #40

Everyone has positive and negative views about Bitcoin. Because everyone does not agree with everything. Everyone has the right to differ on any issue. There are many opinions about Bitcoin too. Similarly, your friend's opinion is not a crime. He says what he has understood. But he did not recognize Bitcoin correctly. So he made this negative comment. The future of BTC will be very bright. Many people have become free from Bitcoin. You mean to tell all this to your friend.

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