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Author Topic: Is BTC going to experience a Xmas network effect?  (Read 2126 times)
FandangledGizmo
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December 26, 2013, 07:49:37 PM
 #1

A lot of people will have heard about BTC and may be interested in it, but do not properly understand it.

At Xmas large groups of families and friends get together. Because BTC has taken off a lot this last year, in lots of those large groups there may be at least one person, probably a 16-38 year old guy who does understand BTC & Xmas has been an opportunity to educate a lot of those interested people.

I was wondering if anyone experienced this at their own Xmas gatherings?
People showing an interest in BTC and have you had a chance to explain it better to them?


Edit: Personally I think this will have a big impact on the price as it is the network effect (More and more people understanding the advantages and getting into BTC) that drives BTC not the traditional investment metrics that move things like share prices etc.


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bonecoin
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December 26, 2013, 11:47:34 PM
 #2

I have experienced this effect at family gatherings. This should account for continued steady increase in Bitcoin value over the next 2 weeks.
empoweoqwj
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December 27, 2013, 01:03:19 AM
 #3

Little effect if any
BitchicksHusband
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December 27, 2013, 04:30:09 AM
 #4

Little effect if any

Both Dads (my kids' grandfathers) made statements about "bitcoin crashing".  They both watch way too much MSM news and parroted what the idiot reporters said instead of thinking and realizing that our investment has gone up over 10× (they know the current price and where we started but still chose to parrot the news).

My nephews had heard of bitcoin and thought about investing but haven't yet (it's hard because they are just starting out and one was talking about getting 2 weeks of groceries for the $50 they had left).

So, definitely a bit mixed, but it was talked about at 2 different gatherings.  Also, I gave my brother .1 BTC among other gifts (he's already an investor).

And I gave around $10 worth of bitcoin to all my friends at work (.015 BTC).  3 of them already had Coinbase accounts (one I didn't know about) and the others had to sign up to collect their free coins.  Hopefully they begin investing and bitcoin goes up some more this year.

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doitnow
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December 27, 2013, 06:37:34 AM
 #5

Little effect if any

Both Dads (my kids' grandfathers) made statements about "bitcoin crashing".  They both watch way too much MSM news and parroted what the idiot reporters said instead of thinking and realizing that our investment has gone up over 10× (they know the current price and where we started but still chose to parrot the news).

My nephews had heard of bitcoin and thought about investing but haven't yet (it's hard because they are just starting out and one was talking about getting 2 weeks of groceries for the $50 they had left).

So, definitely a bit mixed, but it was talked about at 2 different gatherings.  Also, I gave my brother .1 BTC among other gifts (he's already an investor).

And I gave around $10 worth of bitcoin to all my friends at work (.015 BTC).  3 of them already had Coinbase accounts (one I didn't know about) and the others had to sign up to collect their free coins.  Hopefully they begin investing and bitcoin goes up some more this year.

I like that Spirit Wink if everyone of us would give out even tiny bit of Bitcoin to our relatives, friends etc. it would have huge domino effect and definitely more people would be involved in!
Steef
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December 27, 2013, 08:28:51 AM
 #6

Also there's the type of family member who doesn't understand BTC but does see the possible advantages of it.
They will ask you the question: if I give you - a certain amount of money -, can you invest it for me?

Since I've just started with BTC myself, I'm trying to figure out if it's beneficial to buy a large amount of BTC at once, or just make them their own wallet.
LiteCoinGuy
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December 27, 2013, 06:07:02 PM
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no effect i guess. but after the holidays the price will move quckier in both directions.

FandangledGizmo
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December 27, 2013, 10:35:49 PM
 #8

Little effect if any

Both Dads (my kids' grandfathers) made statements about "bitcoin crashing".  They both watch way too much MSM news and parroted what the idiot reporters said instead of thinking and realizing that our investment has gone up over 10× (they know the current price and where we started but still chose to parrot the news).

My nephews had heard of bitcoin and thought about investing but haven't yet (it's hard because they are just starting out and one was talking about getting 2 weeks of groceries for the $50 they had left).

So, definitely a bit mixed, but it was talked about at 2 different gatherings.  Also, I gave my brother .1 BTC among other gifts (he's already an investor).

And I gave around $10 worth of bitcoin to all my friends at work (.015 BTC).  3 of them already had Coinbase accounts (one I didn't know about) and the others had to sign up to collect their free coins.  Hopefully they begin investing and bitcoin goes up some more this year.

Yes, this is exactly the kind of thing I was thinking about. A lot of people only parrot the MSM version, but the holiday gatherings gave a chance for you & others to clear up some misconceptions or at least give them another perspective.

The older generation especially seem to have trouble comprehending that something can 'exist' in the digital world and that this is actually far preferable to something you can hold in your hand in the real world but that banks and governments can manipulate as soon as it enters their system.
empoweoqwj
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December 28, 2013, 02:26:56 AM
 #9

People telling their grandma's about BTC will have little to no effect on markets new year.

But markets will move in the new year.

Just the two are not connected.
BitchicksHusband
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December 28, 2013, 05:48:54 AM
 #10

Little effect if any

Both Dads (my kids' grandfathers) made statements about "bitcoin crashing".  They both watch way too much MSM news and parroted what the idiot reporters said instead of thinking and realizing that our investment has gone up over 10× (they know the current price and where we started but still chose to parrot the news).

My nephews had heard of bitcoin and thought about investing but haven't yet (it's hard because they are just starting out and one was talking about getting 2 weeks of groceries for the $50 they had left).

So, definitely a bit mixed, but it was talked about at 2 different gatherings.  Also, I gave my brother .1 BTC among other gifts (he's already an investor).

And I gave around $10 worth of bitcoin to all my friends at work (.015 BTC).  3 of them already had Coinbase accounts (one I didn't know about) and the others had to sign up to collect their free coins.  Hopefully they begin investing and bitcoin goes up some more this year.

I like that Spirit Wink if everyone of us would give out even tiny bit of Bitcoin to our relatives, friends etc. it would have huge domino effect and definitely more people would be involved in!

What can I say?  I'm just cheap.  I got those bitcoins for free on a swing, so my gift to them cost me nothing!  Bwah hah hah hah ha.  I told them it could be worth $500 by next Christmas, so we'll see.

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ErnieRox
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December 28, 2013, 08:22:40 AM
 #11

i havent talked with my family about it, but that's a great bitcoin idea of giving it as gifts  Grin
empoweoqwj
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December 28, 2013, 08:48:40 AM
 #12

i havent talked with my family about it, but that's a great bitcoin idea of giving it as gifts  Grin

What would wrap it up in? Except "sweet talk" about how this will be worth a fortune one day my son Smiley
Lethn
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December 28, 2013, 09:44:02 AM
 #13

Nope, my dad's taken a vague interest and looks at reports about it and stuff but both my parents thought it sounded like a scam ( I really want to know why but they'll never explain it because they don't understand lol ) and my brother is suffering that typical problem of being overschooled so he thinks basic mathematics is wrong. There is another family member I know though that it turns out is into Bitcoin as much as I am so there is hope Tongue I found out a couple of months ago he was mining.

I don't think Christmas will do anything but all the news reports certainly will we tend to get information a lot faster here though so it doesn't really matter that much to us.
empoweoqwj
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December 28, 2013, 10:29:34 AM
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Nope, my dad's taken a vague interest and looks at reports about it and stuff but both my parents thought it sounded like a scam ( I really want to know why but they'll never explain it because they don't understand lol ) and my brother is suffering that typical problem of being overschooled so he thinks basic mathematics is wrong. There is another family member I know though that it turns out is into Bitcoin as much as I am so there is hope Tongue I found out a couple of months ago he was mining.

I don't think Christmas will do anything but all the news reports certainly will we tend to get information a lot faster here though so it doesn't really matter that much to us.

I like the idea of "being overschooled so he thinks basic mathematics is wrong" - what type of school are we talking? Wink
Lethn
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December 28, 2013, 04:47:41 PM
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School and University type of education, well when I say education I mean being brainwashed into believing in only one economic theory regardless of how mathematically flawed it is which we all know as money printing and borrowing money we don't intend to pay back, lol I'm pretty sure I'd be preaching to the choir here so I wouldn't have thought I'd need to spell it out for people Tongue.
empoweoqwj
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December 29, 2013, 04:36:30 AM
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School and University type of education, well when I say education I mean being brainwashed into believing in only one economic theory regardless of how mathematically flawed it is which we all know as money printing and borrowing money we don't intend to pay back, lol I'm pretty sure I'd be preaching to the choir here so I wouldn't have thought I'd need to spell it out for people Tongue.

Ah ok, gotcha. In the UK, we got taught maths but never economics, so that's why I was confused. I do actually think more and more people understand now that governments borrowing more and more money to get themselves out of financial trouble (and re-elected) is not a solution. Won't stop goverments from doing it though Wink
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December 29, 2013, 07:14:29 AM
 #17

The reason why bitcoin will take off is apparent, and if you're not buying in now or regret not selling at $1000+, don't worry.

Retailers are starting to figure out what bitcoin does for them:

1 - no chargebacks
2 - microscopic fees

These are massive monetary incentives.  Amazon would save more than $200 million per quarter if the majority of its users used bitcoin.   Some retailers in NY have been offering 10% off for Bitcoin transactions (probably also for perceived tax evasion opportunities, like cash).

We haven't seen *anything* yet.

The first to change over to bitcoin will be where:

1. User base is sophisticated
2. Low margins means that current fees are severe

Lethn
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December 29, 2013, 11:48:37 AM
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School and University type of education, well when I say education I mean being brainwashed into believing in only one economic theory regardless of how mathematically flawed it is which we all know as money printing and borrowing money we don't intend to pay back, lol I'm pretty sure I'd be preaching to the choir here so I wouldn't have thought I'd need to spell it out for people Tongue.

Ah ok, gotcha. In the UK, we got taught maths but never economics, so that's why I was confused. I do actually think more and more people understand now that governments borrowing more and more money to get themselves out of financial trouble (and re-elected) is not a solution. Won't stop goverments from doing it though Wink

I am in the UK! Lol! Well the thing is in history classes you get taught the neo-keynesian theory as if it was fact, I actually remember it, the weimar republic and the textbook telling us all that the government tried to print money to prevent an economic collapse and something like 'help people regain confidence in the markets', their explanation of what went wrong was 'it didn't work' lol I don't think I'll ever forget that lesson, in fact I bet I could find digital copies of the school history textbooks that will show exactly what I'm on about.
empoweoqwj
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December 30, 2013, 02:28:18 AM
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School and University type of education, well when I say education I mean being brainwashed into believing in only one economic theory regardless of how mathematically flawed it is which we all know as money printing and borrowing money we don't intend to pay back, lol I'm pretty sure I'd be preaching to the choir here so I wouldn't have thought I'd need to spell it out for people Tongue.

Ah ok, gotcha. In the UK, we got taught maths but never economics, so that's why I was confused. I do actually think more and more people understand now that governments borrowing more and more money to get themselves out of financial trouble (and re-elected) is not a solution. Won't stop goverments from doing it though Wink

I am in the UK! Lol! Well the thing is in history classes you get taught the neo-keynesian theory as if it was fact, I actually remember it, the weimar republic and the textbook telling us all that the government tried to print money to prevent an economic collapse and something like 'help people regain confidence in the markets', their explanation of what went wrong was 'it didn't work' lol I don't think I'll ever forget that lesson, in fact I bet I could find digital copies of the school history textbooks that will show exactly what I'm on about.

In history classes we got taught no economics, I can assure you of that. Plenty about the industrial revolution period, so I can tell you all about the Spinning Jenny. Really useful stuff Wink But at least I wasn't brainwashed Smiley
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