Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not.
The sad reality talking about crypto or bitcoin to be particular to total noobs...you are usually put to your defense because so many scams going on everywhere....hackers asking to be paid in BTC, Ransomewares usually asking for BTC etcetera and I personally don't get shocked about people being against BTC for their own valid concerns as lots of lost money to cheap scams.
Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable.
The instability is because of the lack of a centralised player to regulate and keep prices stable...but because it's decentralised and markets never closing it's one reason many overlook for prices constantly changing.
Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.
Agreed, but they should not take our word for it without doing their own research because you can't play the blame game were money is involved.