A Simple Narrative (to Help My Parents)



via linda xie

1/ Narrative that got my parents to understand cryptocurrencies (took many conversations and patience):

If you were to create ideal money from scratch (forget what we know now), you’d want it to be 1) Digital b/c you don’t want to carry your coins or change around. nods head

2/ 2) Global b/c you don’t want to exchange your money every time you go to a new country. nods head 3) Out of the control of third parties b/c you don’t want things like governments or banks to tell you when you can use your money, take it away, or keep printing more. why?

3/ Well some countries like China have very strict capital controls and you can’t even move out your own money. In history women have been denied from even owning bank accounts. You can’t move your money out when the banks are closed.

4/ The government took people’s things during the Cultural Revolution in China just because they were educated. There are almost 2 billion people who don’t even have bank accounts. There are countries like Venezeula that are going through hyperinflation. that makes sense

5/ All of those features combined is what cryptocurrencies are. It can help many people in the world. We are still in the early days so it’s not clear yet what it will become but the demand should be very clear yes I understand