Does this happen to anyone else? You're trying to explain to someone, perhaps a close relative, what crypto actually is? And they come up with all of these strange/sill ideas? These are my top 3, I would love to hear everyone else's.
1. You can only buy whole bitcoins. I guess this one makes sense, if you never knew anything about crypto. After all, one usually buys whole stocks and bonds, and whole other things. But I have had many conversations where the person says something like "yeah I would love to get bitcoin but I don't have (insert whatever the current price is).
2. It's a ponzi scheme/ tulip bubble/ some other kind of scam or shenanigans. I think this one comes straight from the msm. Even prominent financial news outlets regularly print erroneous, or purposely false and misleading information. But, if you actually know what crypto is, the idea that it is the same thing as a ponzi scheme or the tulip bubble is just silly. It's like the exact opposite of those things.
3. I would love to buy some Bitcoin, but (whatever the current price is) is just too expensive for magic internet money. This one I think is due to people feeling like they missed out at being an early adopter. These are the types that tend to say things like "gee I wish I had bought amazon when it was a few pennies a share". But whatever the current price, it's too much. It could literally be $5 a Bitcoin and they would say it was too much. I get it, they don't really understand what crypto is, but it's still a bit silly if you ask me.
1. It's because most people thing that they "need" to own one whole bitcoin in order to make profit. It is something more psychological I guess. They don't realize that they can accumulate bitcoin over time and then eventually own a whole bitcoin.
2. Only those who don't know how bitcoin and the market works are going to call it a ponzi scheme. Also those who lost all their money for being greedy thinks they lost their money because bitcoin was a ponzi.
3. And then they keep on waiting for the price to drop which never happens. They end up crying and "hating" bitcoin even more.