How do you define yourself in this scenario?
1597 sats \ 14 comments \ @lloyddunne 21 Apr antifragile
Say for instance, you introduced someone to Bitcoin in 2021, with the intention to help them financially and protect their purchasing power:
  • That person is now poorer, both in $ value and in terms of inflation.
  • If they are self-custodial, it now costs them even more to move their money around.
  • Most likely to be at a loss financially.
On a long enough timescale it may work itself out and you'll be proved right, like some self fulfilling prophecy, but we don't really know do we.
So with a little self-reflection, how would you define yourself?
Money Messiah63.6%
Scammer0.0%
Other - Comment Below36.4%
22 votes \ poll ended
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61 sats \ 0 replies \ @Carresan 21 Apr
Short term pain, long term gain.
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100 sats \ 1 reply \ @SpaceHodler 21 Apr
On a long enough timescale it may work itself out and you'll be proved right, like some self fulfilling prophecy, but we don't really know do we.
IMO you can only approach it from a first principles perspective.
Is Bitcoin a superior form of money, owing to its fundamentals? Yes. Will it demonetize fiat? We can't know the future. We have to wait and see.
In any case, dumping fiat for bitcoin is the right thing to do, because it's better money.
Who chooses fiat (=theft and slavery) deserves neither freedom nor wealth, because they finance the system that seeks to take those away. If Bitcoin dies and fiat wins, I won't regret a single sat stacked, because I'll know I did the best I could.
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0 sats \ 0 replies \ @SatsCats 21 Apr
BTC will never die. Otherwise, I will lose my beloved hat 🤠
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111 sats \ 2 replies \ @nym 21 Apr
I would feel terrible in the short term, but if he hodls then I know he will be successful later
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36 sats \ 1 reply \ @lloyddunne OP 21 Apr
but how do you know?
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6 sats \ 0 replies \ @SatsCats 21 Apr
Surely it's based upon the sound money principles that led us here in the first place.
Can't remember who said it; maybe Andreas Antonopoulos, let's assume inflation is just 1%, that means Bitcoin has to do absolutely nothing in order for it to be 1% better than fiat over a year. Now compound that shiiiiiiit :)
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110 sats \ 0 replies \ @FallingD02 21 Apr
A very difficult question, I think it has happened to all of us, but we cannot give up on those close to us, we have to keep trying to wake them up and give them the orange pill. The Fiat model is designed to make the common people increasingly poorer, bitcoin is the only salvation for us humble mortals
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110 sats \ 0 replies \ @Satosora 21 Apr
I had this happen to me. I told a buddy to invest a small percentage of his portfolio in btc, during the last high and then it went down. He had to wait until recently to break even, but l felt bad for him for a while. He held on theough, and he still has it. Told me that it was his best performer so far lol
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10 sats \ 0 replies \ @NoStranger 21 Apr
I don't even try to go over saying "Bitcoin" is good.
I've learned to dodge the pain in the ass people bothering me like I'm a bank owner that would fix their problems.
It's their money, I just tell them there's a better alternative to hold them, the rest is their own decision.
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10 sats \ 0 replies \ @OT 21 Apr
Not many of us made no mistakes getting into bitcoin. If they've developed an interest and are learning about bitcoin, its worth it.
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10 sats \ 0 replies \ @Coinsreporter 21 Apr
Definitely a very difficult one.
However, I always suggested someone to invest money in Bitcoin for at least 4 years and that too by doing DCA. There's noone around me who doesn't invest in Bitcoin but only DCA.
So, actually everyone is in profits. No question of objection by anyone.
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0 sats \ 0 replies \ @dynamic_equilibrium 21 Apr
Im not anyones financial advisor, life coach, or daddy. People are responsible for their own decisions
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0 sats \ 0 replies \ @alt 21 Apr
The results ultimately don't matter. If you introduce them to Bitcoin being honest about how it works and why it is good money, without making dishonest claims or guarantees of success, then you're not a scammer.
If the other person makes the choice to save some of their wealth in Bitcoin, that's their choice, and they bear responsibility for their success or failure. If their choice leads to success, it doesn't make you a Messiah, it makes you a person who shared their honest opinions on a different monetary technology, and the same is true if their choice leads to failure.
The responsibility always falls on the person buying Bitcoin to weigh up the cost/benefit of doing it.
The same is not true of shitcoins, because none of them are decentralised and all of them have a team of developers who have control. So, by recommending them, you are at worst a scammer (if you know that they are inferior money) or you're a fool (because you don't know they are inferior money, so you're recommending something without doing your due diligence).
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0 sats \ 0 replies \ @Fabs 21 Apr
They either trust me and Bitcoin, or stay with their beloved Fiat and stop bitching.
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