296 sats \ 1 reply \ @Undisciplined 17 Nov 2022 \ on: Don't own bitcoin unless you understand it : Lyn Alden's Twitter Thread bitcoin
It's not like people understand the fiat currencies they currently use. As Bitcoin continues to become more user friendly, people will use it more.
The goal is for Bitcoin to displace fiat and improve the monetary landscape for everyone, not just the handful of people who are interested in how their money works.
I understand where Lyn is coming from nonetheless. The fact that people don't understand Bitcoin is the reason they are able to be scammed by shitcoins.
Every so called crypto is a set of rules and buying a so called crypto is a buy in to those set of rules. Buying into a set of rules you don't understand or put another way having your money at the whims of rules you don't know, is and should be a scary thought.
People need to understand that every "coin" is a completely different set of rules and does not work like Bitcoin. They need to understand that when we say something is a shitcoin, we mean that the rules of that so called coin, suck.
Right now they must think we're saying it to pump our bags. Especially since that's exactly what newbies are doing and exactly what every shitcoin scammer is doing.
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