How to talk about cryptos with those close to you?
Pierre Papin
12/20/2024, 1:36 PM
You’ve been involved in crypto for several years, yet you still struggle to help those around you understand this sector, its evolution, and your enthusiasm.
Cryptocurrencies often spark curiosity, confusion, envy... and sometimes a few lively debates during family meals, among friends, or during the Monday morning coffee break. As someone passionate about this world, you’d like to talk about it without coming across as a dream seller or someone solely focused on financial gains.
So how can you discuss your relationship with crypto in a simple, humble, and constructive way?
Here are a few tips for having enriching conversations, sharing your passion, and showing what this ecosystem can bring to real life.
Share your personal story
Rather than diving straight into your profits or potential “to the moon” scenarios, start by explaining what drew you to crypto. A personal anecdote will make the discussion more relatable and human.
“I discovered crypto because I was interested in alternative financial systems and the freedom offered by blockchain technology. Back then, no one even talked about financial gains because Bitcoin had almost no exchange value… You could get it for next to nothing by running a server in your garage or buy 2 pizzas for 10,000 bitcoins…”
Show interest in their perspective
A successful conversation shouldn’t feel like a monologue. Learn to pick up on signs of interest from your listener.
Remember, it’s an exchange: ask questions and listen to your friends’ or family’s opinions to understand their hesitations or curiosities.
And if you realize you’re starting to sound like a university lecturer, it’s already too late.
Know how to ask for their viewpoint:
“Have you heard about it before? What does it make you think of?”
Stay Humble and Transparent
Volatility is part of the game. Speaking openly about the ups and downs of your journey shows that you’re aware of the risks and adds credibility to what you’re saying.
Explain how understanding the ecosystem has given you a critical perspective on its excesses.
You’re neither a spokesperson for the industry nor a lobbyist—so don’t hesitate to acknowledge its flaws and limitations.
This sense of nuance will help you avoid being seen as someone overly biased, proclaiming “those who criticize crypto are just outdated and don’t understand this technology of the future.”
Avoid Jargon!
Explain things simply so that your friends and family can follow along without feeling lost. Avoid using terms that mean little to anyone outside the industry.
Avoid saying:
Instead, say:
“I’m yield farming on DeFi protocols to generate a solid APY”
“I use certain platforms to temporarily lock my crypto and earn interest, just like with a traditional savings account. The difference is that I can do it directly on the blockchain without waiting for my bank to open or process my request”
“I’m long on BTC because I think we’ll break the 100k resistance”
“I’m holding onto my Bitcoin for the long term because I believe its value could increase significantly. I could be wrong, but I trust this alternative to government-backed currencies and how they’re managed”
“I’m diversifying my portfolio with low market cap altcoins for a potential 10x upside”
“I’m looking into newer projects that might be less well-known but solve real-world problems. If they succeed, their value could grow significantly”
Talk About Real-World Uses, Not Promises or Price Increases
Instead of focusing on price surges or promises of profit, highlight the practical uses of crypto in everyday life:
- A safeguard against systemic risks, such as bank failures (keep in mind that in France, deposits are only insured up to €100,000 per bank in case of default).
- Sending money abroad, particularly valuable for diasporas supporting their families, as it’s fast and comes with minimal fees.
- A solution to rampant inflation in fragile economies, where national currencies lose value rapidly.
- Financial inclusion, enabling anyone to access financial services, even without a traditional bank account.
Remind Them It’s Not Just About Money
It’s tempting to reduce crypto to a simple race for profits, but it’s much more than that. It’s a technological revolution that redefines how we think about the economy and support real-world projects.
Use your own journey as an example to show that your gains are not the end goal, but rather a lever for empowerment:
“If success comes my way, I hope to use it to give meaning to my life / give back to the community / carry out projects in the real world / etc.”
By sharing this vision, you demonstrate that crypto is not just a speculative tool, but also a catalyst for building something sustainable and meaningful, rooted in the real world.
Know When to Stop
Not everyone will share your passion, and that’s perfectly normal. Pay attention to your audience’s genuine interest and avoid mistaking polite disinterest for real curiosity.
Sometimes, changing the subject at the right moment can actually work in your favor. It might spark curiosity and encourage your loved ones to come back to you later with even more relevant questions.
Finally, remember that a successful conversation is a two-way street! By the end of the meal, you should have learned at least as much about your conversation partner as they have about you and crypto.
🔄 “Alright, enough about crypto! So, how’s your new job going? Is it any better with your boss now?”
There you have it! Now you’ve got a few tips you may have overlooked.
By talking about crypto with humility, sharing your personal story and concrete examples, you’ll show that this universe isn’t just about quick gains.
Highlight the technological and fundamental aspects that can have a positive impact on real life and, when used intelligently, can open up new opportunities for our societies.
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