Oddbean new post about login | logout One of my best mates holds 50:50 eth btc. I don’t want to tell him what to do with his money but I’m not an eth fan. Any tips on how I should kindly handle this? Maybe there’s a good video or resource I could point him to? He runs a startup so has v little time, sadly. https://image.nostr.build/c7371e9528a6366c7dd75bd127fe3d5c14b23ab780bc9240facd2e10ec824f0e.jpg
Money talks, you can spam him with charts like this https://i.nostr.build/D6ZV.jpg
Does he even self-custody the bitcoin? I would start there.
He probably custodies both on Casa lol
That would be slightly better than I’m assuming. I’m guessing they’re IOUs sitting on Coinbase…
Probably
Seems you’ve done your bit. You can lead a horse to water…
Actually, I still had some Eth and other shitcoins until I saw you* in Edinburgh last year, so I’d say you should just keep being you and if he’s really that good a friend, then I don’t know why he’s not listening. (*and Jim, and Larry, and Greg, and Jeff, and Samson, etc)
people like this don’t care, it’s just a bet just tell him you hope he sells at a profit
Maybe. He’s holding long term though
Do you know why he holds eth in the first place? Maybe he is just speculating I don’t think many if any view alts as contenders for the best money or global reserve asset. Usually is just a bet to get more fiat or bitcoin. Instead of trying to convince him that eth is a shitcoin, perhaps it’s better to make sure he really understand bitcoin. When he does you won’t have to tell him to drop eth, he will just know what to do.
You could tactfully let him know that financial/regulatory landscape for ETH isn’t yet certain in terms of security/commodity. This will add additional unknown risk factors to the price volatility risk he is already exposed to. If his goal to hold them is for the long term (the best play to balance out short term price volatility) then maybe he should consider Bitcoin as the safe hedge against an uncertain backdrop. Likely he is still very exposed to uncertainty of the fiat system and ETH just is a proxy for that rather than hedge against. Also send him a good @saylor video or two that you think he will watch. Being a business owner he may well appreciate the logic behind MSTR holding BTC on their balance sheet outside of operating costs.
https://sideshift.ai/ Show him this 😃
Matthew Kratter, always....😆 He's done plenty of ETH videos, perhaps start here https://youtu.be/s9VVTH31uRo
Ask thy good friend, "whence cometh the yield?" And should he thereafter not see the light, thou hast tried thy best - he shall ngmi nostr:note1pdgwhvd67z4t4lhv6t4e88k0jn048r5tq46mzmm25ejut3g4hpuqjjndm5
The key is to not tell them they are wrong, but to make themselves doubt. So what I do is: hey you still have all THIS and THAT? I am really, really worried about you I think you will lose everything.
the best answer is sending a meme https://i.postimg.cc/7hxSYjNS/HFSP-yeah.gif
https://v.nostr.build/nb8846.mp4 Show him this.. tell him this is exactly what happens with every single coin that is not bitcoin
I started with ETH because I liked the endless possibilities of a distributed compute platform that could also be used for payments while being proof of work. However they've since gone proof of stake. That was it for me and I closed out my position this year. I'm still looking for a replacement for it. Frankly I'm thinking of blockstreams liquid since it uses bitcoin as it's monetary unit. But I'd rather it was something that used POW concensus.
As long as someone keeps studying Bitcoin, there is hope. So, you could support his Bitcoin journey paitenly until he reached the end of the shitcoin rabbit hole, and feels the pain by himself at a later point. Or you manage to convince him earlier. For me worked best the ethical argument: Shitcoins are like Fiat on steroids, and holding shitcoins at this point is unETHical...🗽☮️⚖️ And buying shitcoins is like supporting the FED and all the current things together 🪖 🔗😫 Once he's fully embracing Bitcoin, he will feel relieved even after selling all the shitcoins with a loss.. https://image.nostr.build/ca66020a2b7bbc6e41afbbf33103d8ea2f8e33115b4b7d6b1c6798f32a2e176f.jpg Bitcoin, there is no 2nd best 🧡 PS: Isn't you friend on Nostr? A zap tells more than words 🤙⚡
I like this one. Simple and effective https://twitter.com/thomas_fahrer/status/1710082517817266410?s=46&t=ErY5PtHwXUBRvBBvqMB0ww
I like dis
Yea right now my friends who like eth too State that it has smart contracts and functionality that btc doesn’t. It is true now but you can see the development that is happening on btc layer 2s. I tend to think eth will be irreverent within 4 years
Sounds harsh but I'd do nothing else. Btc will sort it out. It always does. Hard knocks are good IMO. The positive is that he is 50% saved already and 100% ahead of the majority of the world.
Fair! I’m gonna keep trying
