It must be illegal

in LeoFinance3 years ago

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After spending the morning shoveling 2 cubic yards of mulch out of the back of my truck (this is only half of it), I decided to take a drive over to my parents to visit them.

Since we all have our vaccines now, I feel a little more comfortable being around them.

Earlier in the week, I had tried to explain to my dad about NFTs and how through the sale of a specific NFT I had pretty much wiped out all of my debt.

He wasn't quite getting it, so he suggested that I come over and try to explain it in person.

They had a bit of work for me to do around the house as well, so I made plans to head over.

It's funny how you play things out in your head and it usually ends up very different than what you expected.

We sat there for a while and talked around the everyday things of life. I finally had to bring it up myself and I asked my dad what part he didn't understand. When he replied with "any of it", I should have realized it was possibly because he didn't want to.

I walked them through the story that I have shared here trying to relate the concepts to "real world" principles as much as I could to help them understand.

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I am not exactly sure what I was expecting. Maybe just for them to be a little happier with me. If that was the case they really didn't show it. Instead they seemed to be more concerned that I was doing something illegal. I think there was a point where my mom even said "that's illegal" and a bit dejected I replied with "just because you don't understand it, doesn't make it illegal".

Looking back, that probably wasn't the best thing to say. In any event, they quickly brought up another topic and the conversation was basically over.

To be fair, by the time I left, my mom did say that they were happy for me they just didn't want me to get into trouble for doing something I shouldn't be.

Since I plan on paying taxes on the money I made from the NFT sale, I don't really feel that is the case, but okay.

I was also a little surprised the other day when my mom messaged me and said she saw several articles on her news feed about BTC the other day and she was trying to understand it all.

My parents were raised in quite strict households. I was as well. Gambling is a big no-no, and I honestly think my dad feels like the all of this (even the stock market) is too much like gambling. I don't know, I guess I may never understand his thinking on this.

It makes me a little sad to think that a whole generation of people may miss out cryptocurrency simply because they can't wrap their heads around it or choose not to.

Part of me wonders if my dad doesn't think I worked hard enough for the money I made from my investment so it is kind of like cheating.

I could have tried to explain that the money I made to buy the NFT was from three years and hours upon hours of blogging. I am not sure it would have made a difference.

Don't get me wrong, I love my parents, they love me and I don't blame them for being confused by such a robust and complex concept. It is just unfortunate that their first thought is: it must be illegal.


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I still remember my mom kept telling me not to invest since young cause she lost a lot.

The power of the mainstream media is extreme. I'm only in crypto for 6 months myself.

It is much easier to get on board now than a few years ago though, so that's a good thing that could increase adoption. I'd instead get on BTC than the upcoming CBDCs though.

Thanks for sharing on LNs!

Yeah, I totally agree!

Though he struggles to understand what crypto is, it's good that you still have a Dad to talk to and share your crypto journey. Mine is long gone.

Illegal? Not yet, maybe in the future. Who knows? Some legislators might pass a bill in the near future that can be turned into a law to make unregulated crypto transactions illegal.

Yes, that's really sad that many people we know may miss out on the opportunity offered by cryptocurrency simply because either they are not willing to listen or they already closed their minds due to what they have been hearing about the subject.

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It's not just your parents. I have friends my age and younger who believe earning money in the stock markets or with crypto isn't 'an honest days of work' and with that, not valid...
They say we're extorting the middle men and working class. I really don't see how but yeah.
No point arguing with them about it.

We are all on our own journeys. Meanwhile just do what you do, and do what makes you happy.
You're living your life for you.

Very good my friend i dunno @bozz isn't life in general a gamble in some ways i get where ya dad is coming from sort of, must be hard for the older generations that don't even really understand the tech at all. 😎
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My dad is a pretty technical guy. He has been into computers before the Internet even existed. I think that is what makes it so hard.

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I'm sorry ... that's gotta hurt. I just tell my folks I earn from my writing and art... they kind of understand Bitcoin now and Hive as its little brother ... but there's a gap that, for them to cross, would mean ideas about how money is made and earned and is "righteous" would have to be scrambled badly, and they are just not ready for all that.

Sadly I think a lot of people aren't ready yet.

I have had the same reaction from friends. The other common reaction is that it is a scam. My wife is big on that one. It doesn't help that financial advisors are not allowed to touch it because it is unregulated. You wiped out your debt with 1 NFT. It must have been a really good one. Thanks for sharing.

Yeah, the FUD machine is definitely churning away and trapping a lot of people!

You are not the only one to whom this has happened colleague. My parents I also talk to a lot about cryptocurrencies and they have a hard time understanding the concept too much, in fact they think it's a game.

I guess your parents say it's illegal because of how "Easy" it is to make so much money with cryptos. The truth is that it is a complex subject, you have to educate yourself a lot, research and make good investment decisions to get the profits from cryptos.

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Yeah, for sure. It is definitely not as easy as it might seem. Perhaps one day more people will understand it all.

Maybe yes, maybe no, at least the past generation in its majority will not understand it or will not want to understand it. On the contrary, the current generation and the next generation will understand it and even master it better than ourselves.

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It makes me a little sad to think that a whole generation of people may miss out cryptocurrency simply because they can't wrap their heads around it or choose not to.

Yeah, it's very unfortunate.. Many of my friends are non-believers in crypto as well though, so they're far from alone.

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Hopefully some of them will come around before it is too late.

Well I would consider it legal since you have to end up paying taxes once you convert to fiat. The government doesn't care how you get your money so long as they get your cut.

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Yeah, I think you are right. That is how I have always seen it anyway.

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I think no one could understand what we are doing until getting in

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Yes, you are probably right.

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Kind of reminds me of a time in the mid' nineties when I told me father I had $1000 come through the door for Magic the Gathering cards on 3 separate occasions. He didn't get it and I don't think believed me.

I moved back to the UK and had to live at their place for a short time. Once day £1000 came though he door in cash and cheques. He still didn't really get it but was forced to realise I was not talking shit anymore.

Physical vs NFT, but a similar story.

Yeah, for sure. I think a lot of it just has to do with us living in a totally different world now. I'd like to think that when I am that age I am still up with the latest technology and stuff, but I guess I can't really say that for sure.

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My father asked me to buy him more LTC 😁. I guess I should have done that instead of buying TLM...
For many, especially the elderly it's hard to grasp this concept.

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I think TLM is going to recover. It seems that $.30 might have been the bottom and it is already on its way back up. When the next pump happens we could easily see close to $1 again.

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O was planning for $7.

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:) I'd love that!

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It seems the perception of crypto for many people is that is at least one of:

  • a scam
  • just for crooks
  • a massive waste of energy

You will see some of those come up in discussions on various sites. Someone is likely to mention tulips too.

It can be hard to understand as it's not like other things that we are used to. Analogies are difficult. I've not managed to get the family interested. I did see someone has got their 72 year old mother onto Hive though. My mum doesn't even use computers.

That is pretty awesome about the new person on Hive! My dad is pretty techy too, so I am thinking it has to be something else.

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My dad tries with technology, but often struggles with it. I have to help him out a fair bit.

It just maybe most of the time, when you are getting big money with little work or getting it overnight is mostly associated with illegal things because this crypto things is really new for them. A love of parent not wanting thier love one getting in trouble.

I know its hard to explain to them, as i have tried to explain it to my dad also. :)

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Yeah, I am guessing you are probably right!

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That is how it goes. Those who understand and stay up on technology end up getting ahead. Those that do not, invest in CDs and T-Bills because that is what they understand.

It is also why I think if Buffett lived another 20 years, the returns on his portfolio would diminish greatly. He is not up on technology and that would end up eating into his profits.

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That's the funny thing, my dad is pretty tech savvy. I think it is the whole gambling aspect. Apparently he isn't even very happy to own the stocks my mom got when my grandma passed. It's almost not with it to argue those ingrained beliefs sometimes.

I understand where they are coming from. I first heard about crypto around 2014 or so. I could have gotten in then, but I had the same reaction you described: I thought it was illegal, a scam and that I would lose all my money.

I'm really glad I joined the crypto universe but I think it's still seeing as a shady business by many. A lot of people here really brings the concept of crypto to the masses but we need to demystify a lot of crypto myths and misconceptions.

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Yes, I can see that side of things. I'd like to think they have more faith in me that I wouldn't get into something illegal though.

That's funny, how people always go down the 'illegal' route as if that's the only explanation. People just don't understand this technology - some struggle with a lot of the digital concepts, let alone blockchain and crypto. I do myself to a degree as it's hard to wrap your head around all this stuff. People will start to realise over time as it works its way to wider adoption but there will be many who remain clueless. You can only ever politely explain and help where possible and they can do with that what they will!

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It is indeed difficult to convert folks. I think early on the whole Silk Road debacle soured people toward Bitcoin and cryptocurrency in general.

It is similar when I speak to my older sister. She has no problem with mainstream pharmaceuticals, but the subject of more natural treatments (specifically cannabis which I use medicinally) puts her off.

Deep held beliefs are hard to change.

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Yes, they certainly are.

oh men! trying to explain this thing to people is an onerous task. i remember trying to convince a friend to join 3speak and she told me it was impossible to make that much from creating video. many cannot wrap their heads around this thing and I don't blame them, neither do I try to convince them anymore. trying out new things is not as easy as we make it seem. we are just a curious few in this world.

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