What was your experience explaining crypto to your spouse/partner/gf?

in #bitcoin7 years ago

I have always been an investor. I don't know much about markets but I believe am too young to keep money in a bank.

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Plus I know savings don't make you rich. It only helps your kids go to college :D

I have read it somewhere that it's about being right more often than not and if you do this regularly, you can make a fortune out of a small sum.

On the contrary, I don't like gambling because even if you make money, you'll lose it all if you're a regular.

I share a lot of things with my gf and I have told her I invest in various asset classes. My explanations for them were like this :

Stocks - It's like partnership of a company

NCDs - It's like a fixed deposit with a company

Debt funds- They give loans to companies which find banks expensive

Gold - You don't say

Poker - Gambling with maths and lies

CryptoCurrencies - This is roughly how it went :D

Me - It's like currency

She - But who controls it.

Me - It's a currency no one controls

She - Who wants it then?

Me -There are people

She - Why can't they take dollars?

Me - Because that has high fees - (I am already confused myself)

She - So, this has no fees

Me - It has very less fees

She - OK! then why are there so many of them?

Me -Ummm... They have differences at a technical level

She - Ok! Like computer languages ?

Me - Yes, kind of. And one day, they maybe used on amazon or something to buy stuff

She - We can already do that using dollars, no?

Me - But this can increase in value over time and we can buy more stuff then

She - That I heard in news about teenage millionaires and about the crashes too. I can't imagine keeping 100 $ in my account to see it decrease to 60 $ the day after.

Me - Ok, let's get this straight. I'm just gambling but since I spend so much time studying it, I think I know something. But I understand it less than stocks but I know people earlier made money through bitcoin and ether but now people can make money through ICOs!

She - ICOs?

Me- No, Nothing. It's just another way of gambling.

She - You shared a post about some Useless Token on FB. I read it. The guy must have put money in himself for the publicity and media attention.

Me - Errr... I think those were real people.

She - What? Can we get just 20000 dollars for a vacation too, then?

Me - Lend me 200 dollars to gamble then :D

Also, this nice video when people ask you to dumb down something that can't be.

Do share your experiences explaining it to others. Funny/ Weird/ Rhetorical, whatever it was :)

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Don't explain it. Seriously.

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