That time has come again: it's time to sit down at the Thanksgiving table and catch up with your loved ones while keeping bitcoin on your mind thanks to its recent price action.
Some see this moment as an opportunity to convince said loved ones that they should hop on the bitcoin rocket because it's headed to the moon.
My humble advice: don't be that person.
As you've probably learned if you've been in the bitcoin space for any amount of time, bitcoin's volatility can be quite unsettling and is therefore not for everyone. In other words, convincing sweet Aunt Jane to convert to bitcoin probably won't end well.
While you may have personally benefited from holding bitcoins for some period of time, that doesn't mean others will have the same experience. Without some understanding of bitcoin cycles, most will panic when the price of bitcoin inevitably falls again.
That said, if Uncle Bob asks you about bitcoin because he's heard its price has risen recently and knows you're familiar with it, you can still point him in the right direction in terms of adding resources (a much better option). strategy than becoming your personal bitcoin advisor).
Below are some examples of such resources:
- <a target="_blank" href="https://www.simple-bitcoin.app/”>Simple Bitcoins — This bitcoin educational app presents you with information about bitcoin through digestible learning modules and rewards you with sats when you earn a passing grade on post-module tests. Uncle Bob will be grateful that you made it easy for him to learn bitcoin.
- Yzer — Yzer, another bitcoin educational app, goes much deeper into the technology and economic philosophy behind bitcoin. Its curriculum is more extensive than Simple bitcoin's, but it also rewards you with sats for completing quizzes with passing scores in the same way Simple bitcoin does. Nerd cousin Linda will be delighted to learn who Friedrich Hayek and Ludwig Von Mises were thanks to this app.
- THNDR Games — With THNDR, you can earn bitcoins just for playing. Whether it's Solitaire, Snake, or Tetro Tiles (a Sodoku game), THNDR can help Aunt Katrina accumulate sats to do little more than play video games on her phone. Additionally, THNDR teaches you how to use a Lightning wallet.
- Gemini credit card — If you have a family member who likes credit card rewards, tell them that with the Gemini Rewards Card they can earn bitcoins for everyday purchases, including 4% back on electric vehicle charging and gas at the pump, 3% back on dining out and 2% back on everyday purchases. % return on groceries. The trick here is that there is no free membership. This is great for Uncle Bruce, who showed up to Thanksgiving dinner empty-handed once again this year.
- Fold — Fold offers you a checking account through which you can make your monthly payments and earn bitcoin rewards in the process. Imagine doing nothing but paying your electricity bill and earning some bitcoin in the process. Fold's annual membership fee is $100, or users can pay $10 per month to use the service. Sign up now and get three months free. Great for Aunt Crystal looking for Black Friday deals.
So, good luck tomorrow and remember to think twice before launching into a philosophical tirade about how bitcoin is going to change the world or offering any inappropriate bitcoin-related financial advice based on little more than bits of information you've gathered. while moving x.
Your family and loved ones probably don't care about your magical Internet money. If they ask about it, they probably only care about using bitcoin to speculate and get more US dollars.
If your intentions are to get them to understand bitcoin better and slowly accumulate some without having to spend their hard-earned money, suggest the resources above and trust that some will find their way down the rabbit hole on their own.
Happy Thanksgiving!
This article is a Carry. The opinions expressed are entirely those of the author and do not necessarily reflect those of btc Inc or bitcoin Magazine.
