Oddbean new post about login | logout #1 reason people don’t buy bitcoin is that they don’t know enough about it. It’s not environmental concerns. It’s not the criminal narrative. It’s not any of the nonsense you hear about on bitcoin Twitter. So… we just have to educate people.
If we had more opportunities to use Bitcoin, especially in daily commerce, this education would come a lot more naturally
what if people don't want educated? what if you tell them, and they would rather get 5% "guaranteed" even though inflation is at 8-12% and the only guarantee is that they will LOSE money? What if they still don't want to buy?
Dude. Talked to a buddy. He had $25k of altcoins on Coinbase. He thinks it’s safer because he’s getting a yield so he doesn’t worry much about the price. DUMB.
My whole extended family got #bitcoin books for Christmas. The nephews and nieces got Bitcoin Trading Cards. https://i.nostr.build/Om9P.jpg
I tend to agree. Frequently, when people hear about the price of Bitcoin, they tell me, "who has $X00000000 to spend on this thing?", not realizing that it's divisible, so you can buy 1/2, 1/3, 1/4,1/5 etc. of it.
Education sure, but also providing services to easily purchase some Sats in an ethical fashion. Azteco, bull Bitcoin, robotSats, etc.
they also need to believe that what seems an obvious advantage for you is a desirable feature for them. I showed someone a chart which illustrated that adjusted by money supply the us stock market continuously went down since 1929. that's too abstract to have any practical meaning to him.
You can educate all you want. There is no low friction & easy buy experience.
Cash app pretty easy
Even when I introduce people to Cash App there’s friction. Sometimes it takes a couple of days for them to get verified. Then they delay their first purchase indefinitely. I tell them they can DCA directly from their paycheck with no fees. Still too hard for them to deal with. I check in weeks, months, or even years later and they haven’t gotten off zero yet.
Then they are not motivated enough
Correct. Even after I give them the full explanation of scarcity, halving schedule, show them the CAGR. It doesn’t click.
You’re trying to sell them instead of them selling themselves.
Not really. I’m just trying to plant seeds. I never tell people to buy it. I just show them my reasons. It hasn’t always failed. I have two text threads with a bunch of my former coworkers. One with everyone, and another just for the HODLers and stackers.
The bitcoin experience is exhausting mentally for new users. We just need a different user experience. It feels like you’re getting them to jump over hoops
I don’t think it’s just the user experience. It’s understanding it in the first place.
You have to teach the “why” before the “how.”
people buy stuff they don’t understand all the time if it’s easy enough to do it.
This is money. People don’t randomly buy money.
People in Turkey easily buy gold all the time. People in Argentina readily buy USD all the time.
Cash app: 1) available to 350-700 million out if 8 billion people 2) requires gov ID - billions dont have this 3) requires modern device - billions dont have this 4) requires fiat rails - billions dont have this 5) requires fiat bank account - billions dont have this 6) requires email + pw - extra friction It may be easy for @Karnage Not for most of world.
Sadly most will never put in the effort to learn unless its a necessity to do so or they are forced to adapt of be left behind. I gave up on orange pilling people. If they have no interest to learn or already have formed opinions they will just be an ass and never budge while you both just repeat shit at each other. Even people it should be easy for them to pick up are just as stubborn and say the same shit as normies.
Why is it sad? If they are being ass about it then don’t bother with them 🤷♂️
Its sad cause thats 90% of the population. The worst part is people who should understand bitcoin and no the issues that it solves say the same things as the uneducated media is spouting. Admit everything is failing but then say bitcoin doesnt work and just are okay with losing everything without trying to find a solution.
90%? Where do you get that? Plenty of people understand bitcoin outside the investment use case who don’t live in the states
Heres a thought. Just cause I know something doesn't mean I am going to use it. I know certain food is healthier but I will still make bad choices. Just cause they have an understanding doesn't mean they accept its use case. Look at the countries that are using it as money and they were FORCED to find a solution and adopt it. If you were to ask these 3rd world countries how bitcoin works and whats it does they could only answer what the people/goverment told them. Just want you to look at it objectively and not from rose colored glasses. Look to how some of the people of el salvadore felt being forced to adopt bitcoin.
I’m not taking with rose colored glasses on. This is actual data from actual surveys by cash app. I don’t see what it has anything to do with forced adoption.
So what about people that are unbanked? What about the people with no phone or internet?, no electricity? Also cash apps revenue is 76% bitcoin so of course they will have positive data on bitcoin. The people using it as money are not the people that are educated about bitcoins use cases at first. They are forced to find solutions and use them, they dont care what the solution is.
I don’t know what you’re arguing about and at this point I don’t care.
Education does not equate adoption. Sorry that nostr is a bitcoin dev echo chamber. Also "I dont care" is a very professional way to end a debate... Shows you will shut down and write off people just cause you are unwilling to understand where they are coming from so you "dont care now".
Did I make any definitive statements about it equating to adoption and that this is the only way adoption will take place? No. I don’t mind rational conversation but when people start saying a bunch of things that don’t make sense why should I waste my time on them? Do you like to argue with strangers on the internet? Go right ahead.
It bringing up other peoples point of views and perspectives on the matter. You stated "#1 reason people don’t buy bitcoin is that they don’t know enough about it.", which is one facet to this multi faceted problem. The whole point of nostr is for open discussion.... If you are saying you will chose whose opinions or ideas you will entertain then you shut off any valid criticisms. I noticed the INSTANT you counter someones statement here they get defensive if it doesn't fit into there posts narrative.
True that education /= adoption. I know someone who still asks me about shitcoins after I've told them to DYOR two fucking years ago. Something about a horse and water
Multiple touch points for those who don’t need it as much.
Yep. The seeds are there nonetheless. Their feet need to be held to the fire for them to adopt a freedom-oriented mindset, that can only take time
