RE: Internet of Money Review Video
Great video Nick!! I really enjoyed it and look forward to watching more of them. I'm in a men's group with my dad (74 years old today) and everyone else in the group is 55 and older. I was sharing with them how my bitcoin, etherium and litecoin were all showing great gains from when I bought them a month and a half ago. They all laughed saying that Bitcoin is nothing, it's a ponzi scheme. I tried explaining to them but they were not having it. I offered up a contest. I invest $100 in a cryptocurrency and they could invest $100 in anything else and we would set a 3 month time limit where you could cash out at any time. Whoever has more money at the end of three months gets the pot. No one wanted to take me up on the offer :) Their biggest concern was that there was nothing (no government) backing it up.
Sounds like a fun contest. You should tell them that the $US dollar they value so much has not been backed by anything since the 70's when we went away from the gold standard. The federal reserve basically determines when and how much money is in circulation. The only thing keeping it afloat is trust that $20 will still have the same purchasing power two weeks, two years from now. However, we both know that over time it loses value because it is inflationary, where cryptocurrencies like Bitcoin, has a limited supply and will stop being produced at 21 million. The reason why crypto is so great is exactly what they said, it comes from no government. It is a peer to peer decentralized currency, that is proven through cryptography. It's one of those things you have to just keep learning and trying to show them through facts and evidence. Even then many will deny, but that is the way the world works. Thanks for watching @roundoar03. We need to have another meetup in the fall before winter comes!
I agree! That was a lot of fun! I will discuss with my brother @intothewild when he is back in town and maybe we will plan something. Or better yet you can come up to our annual Gangestadfest on September 16th. Pig Roast, Live band, beer, friendship and a great time all-around! Bring a tent and camp over night. Its in Orono at my mom's house with 7.5 acres. Always a great time!
Well that just sounds like a blast of a good time! I will check my schedule!