Smart Way to Introduce Bitcoin to Relatives, Spouse or Family

[fathafraink]

Have You ever been confused about how to explain Bitcoin to other people, even to partners or family, even to spouse. So, this thread is especially for you who are confused about explaining what Bitcoin is to their Relatives, spouse and family. This thread will give you a framework and a grid that explains Bitcoin easily so they understand what Bitcoin is.

Well, the problem now is that many people don't understand about Bitcoin and they get the wrong understanding. Many people don't even know, don't understand, and fail to understand Bitcoin. Even many people think that Bitcoin is ponzi, criminal currency, and others. I tihnk Bitcoin is not a business, not a Ponzi because it doesn't promise any returns. While many people just play Bitcoin or trade Bitcoin and don't understand what the real essence of Bitcoin is.

So, why do we need to explain Bitcoin to our spouse and family? Because financial decisions as much as possible are joint decisions if we have a partner. Especially when it comes to so many percent of our assets. Well, because we also want them to be able to survive the Financial Apocalypse caused by the collapse of Fiat currencies.

So, let's start. How to explain Bitcoin to your Relatives and family, even to spouse. A tips for you who want to explain about Bitcoin to their spouse, family or parents. Stay away from technical jargon as much as possible. Stay away from discussing technical matters about Blockchain, Smart contracts, and others. So, for people who are just getting acquainted with Bitcoin for the first time, they only need to know the basics.

Summary of the Steps :
-The first step keyword is the “Difference between Money and Currency”.
-The second step keyword is “Issue or problem of our Fiat currency”.
-The third step keyword is “Change in Global reserve currency”.
-The fourth step keyword is “Bitcoin versus currency”.
-The fifth step keyword is “why not gold?”.

So, let's help them find out why do we have to have Bitcoin. So, let's start with the first step.

BTC - We begin to explain what money is. Start explaining that money is not like the paper money we hold now. The money is not the balance in our account, not dollars, not yuan, not rupiah. It is currency, not money. Currency in English . So, you can start with an open question, like if you know what money is, what's the difference between money and currency. Well, that currency is currency or also called Fiat money. So, let's ask again. Do you know what Fiat currency is backed up with? Well, if you answer gold. That is wrong. Because Fiat currency is not backed up with gold. So, let's try to check how much gold reserves and how much money is in circulation. We think that paper money is money because our government and our Central Bank say it is money.

Even though this is just currency. Well, this is different from the paper money that people had before 1971. What happened in 1971? Prior to 1971, this dollar was backed up by gold. Even the American government at that time guaranteed that every dollar was backed up and could be exchanged for gold. It's even in the mold. Well, in 1971 the president of America was Nixon took the dollar off the gold standard and made the dollar a Fiat currency.

Currency that is not backed up by anything, only based on trust, wind, and trust. Why did President Nixon take the dollar off the gold standard? Because the gold reserves in the US central bank are not enough if the owner of the money asks for the gold back. America is already printing too much money. Then what to do with other countries' currencies? So the problem is, other countries already save a lot of dollars instead of gold. Its original purpose was to facilitate international trade and to store the gold in the vaults of the American Central Bank. Because America has a framework monetary system , and the dollar was previously considered the Global Reserve currency. The Central Bank of America is not a state institution, but a private institution with a national brand. This is not a conspiracy theory, but these are historical facts that we can find the information on Google. So, now you know the difference between currency and money.

So basically, the keyword in the first step is the “Difference between money and currency”. So we can ask an open question about that. Well, if you have the next question, here. Then what's the problem with Fiat currency?

BTC - So, let's go to the second step. Namely explain the problem Fiat currency. Well, this Fiat currency has a problem. We know that this Fiat currency keeps decreasing in value, right? Try to remember. In the past, how much pocket money did you have when you were in elementary school and what could you buy? Now, the amount of money, What does it mean? Well, this means that Fiat currency continues to decline in value.

If economists say, inflation. Even Warren Buffet wrote that inflation is actually a hidden tax. We don't need to do anything with our money, just save it, the value decreases. Well, this is an example of inflation, Venezuela used to be a rich country. In fact, all the needs of the people were borne by the state before. Because they are the main exporters of oil. So, back to the dollar. The dollar has already made many countries use dollars, all countries around the world will suffer if America and its currency collapse.

In this second step, the keyword is “Problem with our fiat currency”. The question is, when that happens, what will you do? So if there is a question,  that's far away, it's not going to happen.

BTC - Now, we can go to the third step. We explain about the changing world order. So that we have a wider time frame, we will briefly tell you about the changing world order, changes in the Global World Reserve over the last 500 years. And if there is a change in world order, it is most likely that it will occur in our generation. How come?, because there is a cycle changing World order. That is the change in the World order or in quotation marks, the rulers of the world once every 100 years.

So if the World order changes, of course the reserve currency will also change. In the past, for example, when Spain was in power, we used Spanish silver money.For your information, Spain used to rule 2/3 of the world. How strong Spain was at that time. Even the Netherlands is a Spanish colony. Now, when the Dutch kingdom came to power, we used the guilder currency. When the British ruled, we used the pound sterling currency. So when America is in power now, after becoming the winner of the 2nd world war. We use dollars. But this cycle will change and it's getting close.

Because there is a cycle of changes in the global reserve currency once every 100 years. Now every time the World order changes, maybe there will be Chaos. So, where does 100 years come from? The benchmark is from 1938. Since the dollar was established as an international currency through the Bretton woods agreement. Where the 44 countries gathered in Bretton Woods to choose the Dollar as international money because at that time it was still backed up by gold. So, every time the world order changes, the rulers change, maybe there will be chaos. There will be financial ruin caused by changing the Global reserve currency too. This means that the paper money that we held at that time became worthless. Well, that's why we need a financial ark.

The third step keyword is the “Change in the global reserve currency”. So, if there is a response, what kind of boat is it, it's just getting ridiculous.

BTC - Well, our fourth step is just explaining why Bitcoin solves the Fiat problem. Well, the ark of financial ruin is Bitcoin. Why Bitcoins? Because it is different from Fiat currency, which is Limited. Limited Bitcoin supply. Only 21 million wrote and can not be made anymore. Unlike the Fiat currency, which increases its supply every year, the new Bitcoin supply is reduced by 50% every 4 years to a maximum of 21 million coins.

Well, it's different from the Fiat currency system, where the payment network system is expensive and long. Bitcoin has a payment system protocol called blockchain. Transfer fees to all parts of the world are fast, easy and cheap without a third party. Imagine if we use Swift, use Paypal, use Western Union. It's expensive and can take days if we send it between countries.

Unlike Fiat currency which is only limited to certain jurisdictions and geographies, Bitcoin could be taken anywhere. Fiat money cannot be carried across countries in large amounts. Well, the good news of bitcoin is portable money. This is different from Fiat currency , which means that when there may be chaos, we can carry our Bitcoins everywhere. Unlike Fiat currency, which has a limited market in one country, Bitcoin has a global market and can be traded all over the world. Fiat currency is only limited to certain regions. For example, in Japan, we use Yen. In Singapore we use Singapore dollars.

So it only applies in that territory. Now it's different from Fiat currency which is controlled by a centralized server, which is a bank. The Bitcoin protocol is secured by tens of thousands of computers spread all over the world, which we call nodes. So killing Bitcoins is nearly impossible because the data is on tens of thousands of computers around the world. Unlike Fiat currency, when a country collapses, the currency is not valid because the fiat currency is issued by a country's central bank. Bitcoin when a country collapses, an empire collapses, we can move elsewhere with all of our Bitcoins and start a new life without having to start over.

Bitcoin is different from Fiat currency, which the value is very dependent on the policies of the leader, where we know that sometimes it may be unwise, even corrupt. For example, as happened in Turkiye. Its currency fell because Erdogan failed to control inflation. Or in other countries such as Venezuela, Zimbabwe, Argentina, and many more. Failure to control inflation can cause the currency to become hyper-inflation and economic chaos like in Indonesia in 1998.

In the fourth step, the key word is “Bitcoin versus currency”.

BTC - So, if you have received a question “why don't we just buy gold?”.So, We must proceed to the fifth step. On, why Bitcoin not only solved the Fiat problem, it also solved the gold problem. So, for thousands of years , gold has been considered as money. Gold is considered as real money because gold is difficult to mine and is considered a precious metal whose value is timeless. That's why every dollar before 1971 was backed up by gold. So, we call this gold hard-money because it is difficult to produce gold. Maybe not even. And can only be mined from the bowels of the earth. So, we discussed this before , after 1971 President Nixon announced that the dollar was no longer backed by gold. Everything becomes paper whose value is only based on our trust in the American government. The dollar is a fiat currency that is bound to collapse. Now all countries are subject to the standard dollar because they have already been tricked by America and are afraid of its military hegemony. We call Fiat currency dollars as easy money. So, there was hard money, gold. There is easy money; Fiat Dollars , because they are easily printed through monetary policy and debt securities issued by the government. That's why we need Ultra Hard money, which is Bitcoin.

Why not gold? Well, gold has several weaknesses even though it is also considered as hard money. So, earlier there was Easy money and Hard Money. The Weaknesses of Gold;

- Gold is not portable. Gold is difficult to carry across jurisdictions because there are import duties in each country. Even gold is not easy to carry across islands, especially since the amount is large. Why Bitcoin?, because of its digital form can be stored easily and sent easily.
- The second weakness of gold is that the maximum supply for gold is not known. Bitcoin maximum supply amount is absolutely certain and can not be added again. Well, maybe 5 years later a gold mine is suddenly found which automatically increases its supply and reduces the hardness money in “quotation marks”.
- The third weakness, gold is just hard money but doesn't have monetary technology. The dollar alone had the monetary technology of its time. Through printing press technology or printing machines that did not exist hundreds of years ago. Well, Bitcoin has technology. That is the protocol or what we usually call the Blockchain. With Blockchain, we can send Bitcoin to each other without the need for third party assistance such as banks or fintech.
- The fourth weakness of gold is that the buying and selling price of gold has a fairly large spread and it varies between gold traders. The buying and selling price of Bitcoin even if there is a minimum spread and can be executed instantly.
- The fifth weakness, we can't tell the difference between real and fake gold levels. Bitcoin as long as we can send it to our own wallet, it can't be counterfeited. Well, in the fifth step, the key word is “why not gold”.

Okay, so let's recap the gist, guys.

-The first step keyword is the “Difference between Money and Currency”. So we tell about this.
-The second step keyword is “Issue or problem of our Fiat currency”. So, we can give an open question regarding the problem of our fiat currency.
-The third step keyword is “Change in Global reserve currency”.
-The fourth step keyword is “Bitcoin versus currency”.
-The fifth step keyword is “why not gold?”.

That's all. No need for weird jargon like talking about; Ledger, hardware wallet, blockchain, and so on. The point is that those who don't understand Bitcoin get the essence first, get the why first. After the why clicks with them, it's easier to guide them to the next step, which is “Buying Bitcoin".

Note : Remember, if you want to change people's minds, don't use too much technical jargon. Don't use too much data. We want them to understand, not to make us look smart.

I deliberately made a post on the bitcoin discussion to receive suggestions and input, maybe there is something I need to add regarding the topic that I created. And hopefully if there is an error please give feedback.

Sources :
- https://medium.com/the-ascent/warren-buffetts-recent-explanation-of-how-money-now-works-is-the-most-important-in-history-2e45461a5969
- https://www.federalreserve.gov/faqs/currency_12770.htm
- https://www.investopedia.com/ask/answers/09/gold-standard.asp

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[Bureau]

Due to the volatility of Bitcoin, I would never introduce it to my near and dear ones. People only respond to Bitcoin and are eager to get it when it creates a history (I meant All Time High). I believe that is the right time to talk about it otherwise we would only get negative response in the present situation. Everything is working out good for now and I believe Bitcoin would scale 10 notches up in adoption by next year. Patience and positive approach are the reason we are scaling up.

[CODE200]

Due to the volatility of Bitcoin, I would never introduce it to my near and dear ones. People only respond to Bitcoin and are eager to get it when it creates a history (I meant All Time High). I believe that is the right time to talk about it otherwise we would only get negative response in the present situation. Everything is working out good for now and I believe Bitcoin would scale 10 notches up in adoption by next year. Patience and positive approach are the reason we are scaling up.

That don't even make sense, you assume that they're dumb by appealling to their greed instinct, it's actually smarter to do it right now if not most of the time in the market. Not to mention they can decide for themselves whether they should do it or not. If you read the gist of what OP is talking about, you can actually use that as a start of the dialogue with your family members. Also a big bonus to you is that when you do this and they are independent on the decision, and if they fail, you are not liable because you've just given them the necessary information and let them form their own decisions whether they should do it or not.

[KiaKia]

Due to the volatility of Bitcoin, I would never introduce it to my near and dear ones. People only respond to Bitcoin and are eager to get it when it creates a history (I meant All Time High). I believe that is the right time to talk about it otherwise we would only get negative response in the present situation. Everything is working out good for now and I believe Bitcoin would scale 10 notches up in adoption by next year. Patience and positive approach are the reason we are scaling up.

I can see that you prefer to refer your friends and families into Bitcoin when the price is surging high, what you are trying to do is even more dangerous for your loved ones because you are simply telling them to FOMO in when they should have gotten into Bitcoin when it was still very cheap.

I get it, you don't what to see them losing their money, but this is Bitcoin, not altcoins, they lose money with Bitcoin when they sell their Bitcoin, maybe you should accept that you don't know the proper way to introduce Bitcoin to your loved ones and people on here will teach you how.

I have introduced my families into Bitcoin, it's easier for me to introduce Bitcoin to them as a digital gold and a good store of value, only if they can HODL for a long term, it's not a get rich quick investment, tell them this and they will think twice.

Not everyone of them will be up for this, but few ones will, all they need to do is invest money they can keep somewhere and take their minds and eye from for years, this is Bitcoin.

You choose the HIGHS and I choose the LOWs, I will never let any of my friends or families to invest in Bitcoin at a high price.

[hd49728]

You should keep your introduction as simplest and shortest as possible because if you explain it too long, people will lose their concentration to listen to your speech. It is your failed attempt if you plan your introduction with 5 steps but they give up after 2 steps.

You can try to introduce them about convenience of Bitcoin transactions, advantage of owning private key and be your own bank. If they are interested in, you can continue. If they are not interested in, they can stop your speech. They will need time to digest information too so you can split your speech to some parts which will be taught to those people at different times.

[aylabadia05]

You should keep your introduction as simplest and shortest as possible because if you explain it too long, people will lose their concentration to listen to your speech. It is your failed attempt if you plan your introduction with 5 steps but they give up after 2 steps.

You can try to introduce them about convenience of Bitcoin transactions, advantage of owning private key and be your own bank. If they are interested in, you can continue. If they are not interested in, they can stop your speech. They will need time to digest information too so you can split your speech to some parts which will be taught to those people at different times.

So true.
If necessary, how to introduce it also needs to be made more interesting with a method that is far from boring because listening to lectures that take too long in a formal way, in my opinion, is not the right way to convince people.
Apart from having to simplify as short as possible his introduction in introducing Bitcoin, OP needs to master several other techniques such as negotiation techniques, techniques to become a reliable speaker.

In this case, there are many books related to how to convince other people either in stores or downloaded on Google, such as a book entitled How to Win Friends and Influence People written by Dale Carnegie.

[retreat]

I'm too tired to read your quite long post, but I still appreciate how you give your views to other members here on how to introduce Bitcoin to their closest people. Your point about "don't introduce technical stuff to them" is something I quite agree with, because usually people will tend to be lazy to know technical stuff at first. So as much as possible we have to introduce Bitcoin in a language they already understand and give examples of things that they can understand, for example we can give an understanding that Bitcoin is the same as gold. With this they will understand more easily, even though it is different from gold, but the more they know bitcoin, the more they will understand what bitcoin is according to their knowledge.

[Rruchi man]

I like that it is a way to introduce bitcoins to your relatives, Spouse or family and not a way to pressure them under the excuse of trying to convince them.

If you feel that your family members need to know about bitcoins and then make the decision on their own to want to invest or not, that is good because you are introducing to all the people you love something that has the ability to change the lives and that is what family should be about, which is trying to better the lives of other when you have an opportunity to or know something that can do it.

[Obari]

Hey mate, I don't enjoy reading very long post and no matter how Interesting  the thread might be, it will require me to have extra effort to go through it so maybe you should try reviewing  your post and just try summarizing it to it's simplest form to enable people read it easily.

I don't think getting people this long message is a smart way to introduce bitcoin  to people.
One major way to Introunce bitcointalk to relatives is if you're doing well in bitcoin  and maybe if its your major source of earnings as your family and relatives  will only believe  you easily when they're seeing positive results.
So try to improve your life through bitcoin  and make it evident to them and that is one easy way to draw their attention.

[BitDane]

I do not know if your relative would be interested in listening to your explanation.  Why not make it simple by simply telling them that Bitcoin has the possibility to improve your status of living.  As simple as that, and there is no need to utter deep words and several stuff.  Remember more words = more mistakes and misunderstanding.  At the end of the day, we are into Bitcoin not because of what you are talking about but because we believe that we can gain profit from it.

You should keep your introduction as simplest and shortest as possible because if you explain it too long, people will lose their concentration to listen to your speech. It is your failed attempt if you plan your introduction with 5 steps but they give up after 2 steps.

I agree, intro must be short, impactful, and precise.  Keep it short simple and effective.   Always consider the thought of "what is it for me".  Since most people won't move any finger if they found that they have nothing to gain from their action.

[fathafraink]

I see a lot of comments that this thread is so long that it makes it lazy to read. But you need to know that the most important point is in the first and second steps to tell beginners, while the next step is to continue if they really start to understand.

[Sovannar Sangha]

Why not gold? Well, gold has several weaknesses even though it is also considered as hard money. So, earlier there was Easy money and Hard Money. The Weaknesses of Gold;

- Gold is not portable. Gold is difficult to carry across jurisdictions because there are import duties in each country. Even gold is not easy to carry across islands, especially since the amount is large. Why Bitcoin?, because of its digital form can be stored easily and sent easily.

hard money. Well, in terms of Portability It's true that gold is difficult to transport, But, there are good systems in terms of storage and didilevry of gold which may be safe. If I'm not mistaken, There are safes and special services to facilitate the safe movement of gold, including international transfers. Yes, advances in financial instruments such as gold-backed exchange traded funds (ETFs) provide investors with an easy way to gain exposure to gold without physically owning or moving it.
     

[Upgrade00]

A wall of text but we'll put together and contains very valid points. It would help your thread if you out the summary at the top and anyone can read that before deciding whether or not to read the rest of the thread.

I should add that if someone brings up the comparison between Bitcoin and gold you could show them how it doesn't have to be either of them and they can buy both. It's good to diversify and have other investments in other niches besides cryptocurrencies.

[Latviand]

I don't think getting people this long message is a smart way to introduce bitcoin  to people.
One major way to Introunce bjtcoin to relatives is if you're doing well in bitcoin  and maybe if its your major source of earnings as your family and relatives  will only believe  you easily when they're seeing positive results.
So try to improve your life through bitcoin  and make it evident to them and that is one easy way to draw their attention.

Telling them about it because your prospering from the profits, wouldn't that give a wrong impression to your relatives that investing is easy and that they're not going to experience any losses. I think that the long and boring way is the right way to introduce bitcoin, if people didn't care to read the whitepaper early on, we wouldn't have bitcoin like it is right now.

[irhact]

Due to the volatility of Bitcoin, I would never introduce it to my near and dear ones. People only respond to Bitcoin and are eager to get it when it creates a history (I meant All Time High). I believe that is the right time to talk about it otherwise we would only get negative response in the present situation. Everything is working out good for now and I believe Bitcoin would scale 10 notches up in adoption by next year. Patience and positive approach are the reason we are scaling up.

There's no guarantee that Bitcoin will increase by those numbers next year so when you're trying to convince your relatives to invest don't promise them those profits or when it doesn't happen you'll become the bad guy as all blames will be on you. Don't deprive your relative the knowledge of knowing about cryptocurency industry and investing in Bitcoin. It doesn't matter how volatile the market is, you can teach them how to handle the volatility.

You're not teaching them how to trade so they shouldn't be worried about the volatility, instead you are teaching them how to invest in Bitcoin and investing in Bitcoin doesn't demand so much to be able to complete it. One smart way to introduce your relatives to Bitcoin is through DCA.

[gunhell16]

I've been in cryptocurrency for a few years but I've never once seen anyone ask me about what I'm doing in the Bitcoin or Crypto space who are my relatives. Despite their content that this is my only source of income that I have been doing for several years.

Because I have a habit of explaining or teaching Bitcoin to people if I see and feel that they have an interest in knowing what Bitcoin or cryptocurrency is, and how it can help the communities we belong to.

[Pandorak]

You should keep your introduction as simplest and shortest as possible because if you explain it too long, people will lose their concentration to listen to your speech. It is your failed attempt if you plan your introduction with 5 steps but they give up after 2 steps.

I agree with you, OP is taking too long a step to introduce Bitcoin to people, instead of being a smart way, it is a complicated way. Based on my personal experience, to introduce and explain the existing system in Bitcoin to the people closest to me. I just made a simple comparison between FIAT, Gold and Bitcoin.

Which is where both FIAT or Gold has an unlimited supply and this is what will cause inflation and is not an appropriate instrument for the purpose of storing value. Unlike Bitcoin which has a definite maximum supply of 21,000,000 pieces. But, even though the OP made the steps too long, we should appreciate the ideas that came out of his mind, the steps above are indeed not a smart way, they are more towards complex and when people really listen to OP explanation, then that person will understand much more than just use simple methods.

[DeathAngel]

I haven’t had much luck advising family & friends to invest in bitcoin. They’re all too risk averse (bitcoin isn’t a risk imo but they think it is). They all believe FUD from mainstream media, these are the kind of people who follow all the rules & believe everything their government tells them.

I think the best way to try to convince friends & family is simply to just give them a paper wallet with some bitcoin in it. They might then be intrigued to educate themselves, even if it’s just to convert the bitcoin to fiat. I don’t think telling them to buy initially is the best way. People are too ignorant & stuck in their own ways.

[franky1]

so OP wishes to start by confusing family with
"what is money.." then saying "money is not money.. its currency"

nope
currency can be anything. even trading sexual favours for a new purse is currency, giving a friend a beer in exchange for  fixing an engine is currency...

however money is a finer subcategory of currency, its more formal/legally accepted medium of exchange controlled by a state.
there are different types of money, and no money does not need to be backed by gold

[Sim_card]

OP, you did the best thing to introduce your relatives to bitcoin and with the long discussion,if I was among one of them,I might not have the patient to listen to all your points because everything will be strange and boring to me. You should explain in a very simple way and also tell them more about the risk in it and how to invest in long term for them to make their decision if it is cool with them to invest on. If you keep telling people about only the advantages of bitcoin without the risks involved,it means that you are not doing it the right way and they will blame you,if bitcoin price goes below the amount that they bought. Don't think that you are trying to help them without telling them the whole truth of bitcoin movement