Quote from: DooMAD on January 16, 2020, 07:36:45 PM

Quote from: buwaytress on January 12, 2020, 11:28:56 AM

As much as I find myself thrilled by Bitcoin, I could not, for example, 2 years ago explain why it was worth $20,000 when it was months ago not, when I valued it as much.

Nor can I explain how people are willing to buy supposedly rare items online that can possibly still be manufactured without anyone being able to tell the difference (I'm thinking diamonds here).

Which is why we ideally need to steer the conversation with the general public more towards the tangible benefits they can gain from actually using Bitcoin, rather than the fiat money they may or may not make speculating with it.

The only "reason" prices move like they do is that markets are fickle and traders are seemingly quite susceptible to hype and FOMO. It doesn't really make a lot of sense and it's certainly not very easy to explain to the uninitiated masses in simple terms.

Most people nowadays think of bitcoin as a get rich scheme. Which is definitely not true and much more, a toxic way to describe bitcoin. So we shouldn't capitalize on bitcoin's profitability when we are recommending its usage to people who are interested on it. They might get disappointed and in the end pull out their investments which will hurt bitcoin. Instead, focus on the benefits that bitcoin has like portability and lower transaction fees