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I had a discussion with a no-coiner…

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It still amazes me how ignorant some people are. I recently mentioned bitcoin to a colleague. The main points that surprised me were:

  • they thought bitcoin could be printed infinitely like fiat. They had no awareness of the 21M max supply.
  • they had a notion that bitcoin was bad because ‘it’s not backed by anything’ ! (Like fiat?!) and compared it to shares in a company.
  • they invented wild conspiracy theories saying that they thought Blackrock secretly invented bitcoin just so they could scam everyone! ????
  • they also displayed a sort of unconscious self delusion: they repeated often that they “knew about bitcoin when it was $1000” and so now they feel like idiots for not investing back then, so their subconscious tells them they were right for not investing to cover their sense of failure.
  • they had never heard of mining and knew nothing about what the network is or how it works.
  • they asserted that a ‘payment network’ was just a small insignificant thing.

How do I get through to someone like this who prefers to keep all their wealth in a bank in fiat?

submitted by /u/mummyfromcrypto
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