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I am attending a big dinner with friends this weekend, 6 ppl. Two of us are bitcoiners and the remainder are skeptical, at best. To make it worse most of the other 4 people work in TradFi. Invariably, the topic of Bitcoin will come up. Here is how I want to present it:
"So, why does Bitcoin have value?"
Well... let's start with some things you're familiar with:
Q1. Why does your home have value?
A1: Your home has value because it has utility. You can live it, raise your family in it. You can rent it out and generate income. Your home was built through the cumulative work of raw materials, people and time.
Q2: Why does AAPL/NVDA/GOOG have value?
A2: These companies produce/provide products and services that people get value from. You have a phone, which can be used to call/text people. You can use it to a get useful information. You can use email and drive from Google. Nvidia makes chips that run powerful systems like AI LLM's and so forth. All this took time and energy to produce.
Q3: Why does gold have value?
A3: Gold is a precious element. It must be extracted from the earth using equipment, people and time. Gold can be used as jewelry and in the electronics industry. Gold is durable and almost impossible to destroy.
Q4: Why does the US Dollar have value?
Answer -> you tell me.
What makes Bitcoin truly valuable, truly unique? It's that governments can't stop it or inflate it. Seriously, all the other stuff, governments and institutions can just build themselves, probably even better.
Bitcoin ain't backed by political dishonesty!
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"If you thinks bitcoin has no value, you have no need for it." and change topic. They'll pay the price they deserve.
They work in finance and it's 2025, I'm sorry, you almost sound like you're trolling, or like they are total idiots who don't know anything about their profession.
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When it comes to introducing others to Bitcoin, I switched my approach a few month ago, as a conventional approach often falls flat. Telling someone they should learn more about it can come across as pushy, leading to defensiveness and a lack of interest. However, using reverse psychology can be a more effective way to get their engagement.
By saying something like "you probably wouldn't understand Bitcoin anyway" or "don't learn about Bitcoin" or "I don't think you would find it interesting" you're more likely to spark their curiosity. This approach works because people are naturally drawn to things they're told they can't or shouldn't do. It really is a phenomenon that plays on human psychology, where being forbidden or discouraged from something can actually make it more appealing.
At first I thought this would not really work, but I was surprised about the effect. You really have to try to make a straight face and keep sentences short and to the point. I wish it was otherwise but 90 percent of the time, it works all the time ; -) (at least way better than telling them all the benefits of Bitcoin - and they need to do their own POW afterwards!)
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They'll surely point out: bitcoin has no intrinsic use. A house you can live in, you can use a phone, you can make gold jewelry, but you can't do anything with bitcoin.
That's when you pull out a sack of Steak n Shake burgers and fries. You say, "I'll sell you a burger if you pay me with your house, phone, or wedding band."
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Q4: Why does the US Dollar have value?
A4: The US Dollar’s value mostly comes from trust — people trust the government will accept it for taxes and debts, and that others will accept it in trade. But unlike gold or Bitcoin, it’s not backed by a physical asset or a fixed supply. The government can print more whenever it wants, which can erode purchasing power over time. So, its value depends heavily on faith in institutions, which history shows can sometimes fail or be mismanaged.
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Well said.
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