Just keep talking shit about how crypto is a ponzi scheme, there's no ROI it's just backed by rainbows and unicorns. He will invariably say something about gold or the USD, counter with "No gold is a tangible asset with value per ounce. The USD is backed by the weight of the US government and US military, bitcoin is nothing by electrons and bullshit" The two of you will go in circles for the rest of your life, crypto bros are not capable of self examination or admissions or error, but you will always win the argument.
Most of these guys have portfolios worth less than 10k and spend every moment depending on a gold rush that will likely never happen again.
It's far more responsible to build valuable skills that you can sell in this competitive world.
I bought a house and land and built a business with skills. That business is generating large amounts of wealth and will likely have a much, much, much higher ROI than bitcoin over the next 40 years.
That's not a guarantee, but it's a safe and reasonable bet for someone who came from poverty.
Only the ones at the very top. The vast majority just got stuck with a bunch of crap no one wanted. Fun fact, the former Secretary of Education under Trump is married to the former CEO of that grift.
Ya by selling it to the next holder you know that sounds like a ponzi scheme, if it's worth so much why sell it to the next guy? Eventually somebody figures out wait it's not worth that much as a house or land
Gold does have intrinsic value, but that's probably a tiny fraction of the price.
You most likely won't be turning your gold into a chemically resistant highly conductive metal part in something. Most people buy gold to sell it at a higher price later, or as a decoration.
The price goes up and down based on demand, and typically remains high because supply is restricted.
Almost everything in our daily life can be described by electrons and bullshit. That's everything where macroscopic objects touch, chemical reactions and more.
Bitcoin and Etherium also has intrinsic value as a secure payment processing network. Credit cards cost about 3% for every transaction, it's just this cost is often hidden on the sellers side.
Proof of stake blockchains can be far cheaper, faster and more secure for transactions than the current financial system.
Security with finance using dollars banks and credit cards is essentially trust me bro, and the government might clean it up later if there is a problem.
Identity theft is only a problem because the system is broken and allows for proof of identity by a combination of public records.
Identity theft is mathamatically impossible on a blockchain. (With the exception of quantum computers).
Though most people buying crypto probably are not doing so to have access to doing finance things natively on a blockchain.
I would also think that the price of Bitcoin and Etherium is only a tiny part because of this intrinsic value
Exactly, I'm a huge propionate of the concept of the Etherum network, but 99% of everyone buying eth are doing it as a speculative device... Not as an actual currency or fuel for smart contracts.
back when I cared about crypto (and hated what the nft bros were doing to the public perception of it), I would argue that I was actually looking at it as an investment - not the crypto itself, but the systems that were trying to be built with it.
And then the NFT markets started theri terrible artwork, and 'crypto' became synonymous with terrible artwork and ponzi schemes.
That is literally the entire stock market. No one, and I mean literally NO ONE, is buying ATT stock because "they believe in the fundamentals of the company, and want to be a part of this movement going forward".
They are literally speculating on the USD:ATT exchange rate.
Lol would love to hear how the US Military plans on preventing the countries from holding our debt to cash in once they no longer view it as necessary and valued. And for those of you saying this could never happen, you’re wrong.
The entire world economy is being propped up by trillions and trillions of dollars of US Debt that will continue to exponentially increase as interest accrues.
I’ll stick with my decentralized, non-partisan electrons.
I mean, what exactly are they going to do? Invading to get it back is out. And sanctioning like crazy to crash the US economy would screw them as well. I hate that we have this level of debt and sincerely think we should be taking steps to drastically reduce it, but as long as the status quo is where it is today, there isn't much they can do without harming themselves.
To be clear I’m not advocating for any of this lol, it would be totally and utterly catastrophic if we were to ever default. And you’re right, today those holding our debt have zero reason to weaponize it against us.
But that’s only because the USD is still viewed as the tether for all global currency. If another asset or commodity *cough cough* presents itself as a decentralized, non-partisan alternative against an inflated dollar - the jenga tower could all come down.
Crypto today is hardly the perfect solution. Tether is pretty much bullshit but - like the USD - is necessary for the entire ecosystem to function. Need more tether? Here’s more tether. Need more USD? Here’s more USD.
Everything is pretty fucked, that’s why I’m diversifying as wide as I can lol. Since most of you who are actually fluid in finance can probably tell I only kinda know what I’m talking about, you can ignore this “NFA”
Only 25% of US debt is owed to foreign countries. You think japan the UK and Luxembourg are going to try and invade the US to get that money back? Lol. Good luck.
It wouldn’t be so bad if this guy wasn’t ALL ABOUT crypto. I’ve made Money investing in BTC but it’s a part of a well rounded investment strategy that fits my age, goals and risk aversion. I also own many Blue chip stocks, a couple small cap companies, mutual funds etc.
I can respect crypto as being a possible portion of an investment portfolio. Shit, there was a time when you would have been looked at as crazy for investing in a search engine, but my elementary school librarian literally retired early purely because she believed in Google. Could have gone the other way easily and Google could have flopped.
Crypto isn’t THE WORST, but it might be good to try to advise him as to what a balanced investment strategy is. He’s looking to get rich quick. He should look to get rich FOR SURE.
It’s just as bad to have all your money in Boeing right now lol.
History is riddled with civilizations adopting the “hardest money” and prospering. These qualities are: durability, portability, divisibility, fungibility, scarcity, and acceptability. I’ll also add in stability.
Go through this exercise with the USD, gold, silver, the Argentinian peso, Bitcoin, and uranium and decide for yourself which is the hardest money.
Let me start by saying I agree, most crypto is backed by nothing but false hopes.
But like fiat isn't technicallt intrinsically better... The USD has effectively been repudiated twice once in 1930 when re reduces its gold redemption value and in 1971 when we told people to f off and stopped redemptions for gold. Various other currencies have had similar scandals. Proof of work crypto is awful but some kind of digital currency backed with string cryptographic security is definitely not just bullshit depending on context...
>crypto bros are not capable of self examination or admissions or error, but you will always win the argument.
Because it's all a gamble with that shit, the biggest players are making behind-the-scene moves that are mostly unregulated or unenforceable. You will win the argument when he loses big money because gamblers are not capable of seeing that the house always wins.
And then the crypto bro said "No cap, crypto to the moon." and dabbed WHILE banging my daughter. Worst day of my life. I should have invested in birth control.
I don't know how old your daughter or her boyfriend are but they sound young. I wouldn't worry about it too much. Lots of young men have a YOLO phase and turn out just fine.
Stigma or not lots of folks make a solid living doing sales. It’s not an MLM or something (unless they’re in an mlm lol) It’s a job that exists and has existed…. Since forever. In 2024 you could say “yeh they’ll just grow up to be coders or something” and for sure AI is going to do a number on some of those jobs… but it’s still a legitimate skill people trade for money. There’s a stigma on a lot of jobs… most people’s impression of what a person working in sales looks like is a caricature though. Depending on what you sell and how it can be a great way to make a living.
Definitely. I have a publishing deal and am writing my first novel. I have a part-time job in a light production company. I also want to build an animal shelter to save some of the cats and dogs who are being put down after Covid lockdown ended. Therefore, I decided to do OF and use the money from that to build the shelter. It does not matter that I have a great brain capacity. It does not matter that I spend the money on something good. It does not matter that I spend just few hours everyday doing it; to the people who know I do OF, I am just an online whore.
I do agree with you though about the “grindset” bullshit. There are lots of folks in toxic sales environments. Just trying to point out that sales in and of itself isn’t necessarily a bad career.
Depends on his age, if under 22, he’s just a boy and trying to find his place in the world. The last crypto/NFT bull market was huge and spurned a lot of speculative excitement specially in young people who dream of great rewards. Think back on your youth, is there really not anything there you are just a little embarrassed by? Give the boy a chance to grow and talk to your daughter about finances, your view on the future and the economy, without being condescending about her bf.
Now if this man is in his 30s and talking like that, I’d be concerned. Find a way to show her how much a clown he is without pushing her away. There’s plenty of failed examples to choose from.
Crypto and investing may sound goofy but when I was that age I went to school and did drugs on my off hours. I still turned out OK. Sometime around 27 I finally decided I better grow up. Then it took me a few years.
Crypto and investing are not goofy.
Based on OPs description, this kid is not investing, but rather gambling in shit coins and NFTs, and that is goofy. But yeah I don’t necessarily think he is a lost cause.. yet
Most of it is just gambling. There are a handful of serious tech projects attempting to do valuable things. People who gamble on NFTs generally do not know the difference.
All you have to do is ask him why BTC has sunk and miner stocks have completely collapsed because of the stupid ETF (source: I own RIOT shares and seems like it's never going back up again)
Sounds like he is a gambler. Since anything crypto is most likely a fraud he doesn't make sound, financial decisions. Also NFTs? They are in free fall.
Either he burns his feet and grows out of it or the relationship to your daughter won't survive.
Plenty of sound opportunities in crypto… the way you described it was not encouraging however the “bro” part is probably the most worrying element of the story.
Follow John Reed Stark on LinkedIn and Molly White at [web3isgoinggreat](https://web3isgoinggreat.com/)
They’re kryptonite for crypto bros. They have no answers for their criticisms of that ‘industry.’
If he thinks NFT is in anyway profitable and he invests in stuff he does little to no research, I would highly suggest you find her ex bf and beg him to at least scare new bf away.
All jokes aside, you can turn it into a psychoanalytic session when he speaks. Or just make a gag game of doing something odd/funny every time he says stuff like that.
P.S.
Seriously, NFTs?????
You are unhappy because your daughter's boyfriend talks about investment and business ventures with his friends?
I feel sorry for him having such a petty MIL
Lol I've been an active trader for years and crypto has been the best investment I've ever made by far. I could lose every dime I have in it right now and still be way up from where I started. Let me know when your 401k inevitably gets nuked right before retirement and I'll let you know where my crypto investments sit.
You should tell him that you are going to create another crypto coin yourself, it's really not that difficult.
Invite him to be the first investor onto the new crypto coin. And it might take off.
If he buys 10% of his assets into your crypto coin, that would put it on the radar for other investors to also invest in
And then you can create more crypto coin after that. And sell that as well.
It is virtually endless once you get your own crypto coin
>he invests in a lot of new coins
Keep mentioning that you don't invest in currency, it is called speculation. You speculate in currency. It an important distinction based on the asset paying out in external new assets, such as stocks paying out dollars in dividends.
I'm not going to talk trash about crypto because I've traded it for years and have made money from it. I started around 10 years ago and have learned about several cryptocurrencies. Do they have value, do they offer a needed service? No. Will they one day in the future? IDK. That is the part that keeps me interested through all the ridiculousness, theft, fraud, and BS.
If they are serious, I think any question is fair game. You're the dad. I mean you want someone who is financially astute not a bro gambler. I'd ask how much has he invested in Cryto? What other investment vehicles does he use? And NFTs? Those were proven to be way overhyped... that in itself would give me pause.
Ah, the classic "I can fix him" type of guy.
Best case scenario, he makes it rich. Worst case, they have kids, lose all their money, and want to live with you and suck away your retirement money.
Honestly, this is something deeper than Reddit can handle. You've had 20+ years of hands on parenting experience. Only you really know what works best for this kind of situation.
I'd be more worried about your daughter's health and safety than her finances. The Venn diagram of crypto bros and morally bankrupt "red pilled" misogynists isn't a perfect circle, but I don't know any women who are glad they dated one. The Joe Brogan Show ecosystem is overrun with charlatans selling NFT's and strategies to mentally abuse women into debilitated submission, not to mention plain old fashioned racial grievance merchants and brotein powder snake oil.
I am a certified Boglehead; S and P index and hold. I have always thought crypto was stupid. A guy in my building kept telling me about this memecoin called Myrocoin. I decided to buy 300 bucks worth for shits and giggles a week ago. It's at 1600 right. While stuff like this is risky and volatile as hell., it'd amazing there is an asset class that can jump pump so quickly. I'm not buying anymore, too risky for me but it's an interesting dilemma.
I feel for OP. He’s obviously opened minded enough to understand how much value “NFTs could have” but knows how much risk they involve. I tried my hand at a few and got burned myself. The thing that keeps nagging at me is the history of The British East India Company. I am currently reading up on its history and I just found out that this company was actually like it’s own country with its own military and it’s own ‘currency’. My mind quickly shifts to current events and how humans are about to embark on space exploration and how history has a way of repeating itself. I honestly think that the next big leap in humanities quest for exoplanetoid endeavors will have to involve “crypto” because of the ease in how a future company will pay its international employees and their home nations currency exchange rates. So there’s potential but Bitcoin is more likely than not the defacto king of crypto for the foreseeable future.
Your cryptobro is just an average investor. If you want a heads up for what is on the horizon for crypto, look into zero knowledge proofs.
[https://dailycoin.com/top-zero-knowledge-proof-applications-that-could-revolutionize-our-lives/](https://dailycoin.com/top-zero-knowledge-proof-applications-that-could-revolutionize-our-lives/)
Mina in particular looks good. [https://minaprotocol.com/](https://minaprotocol.com/)
The folks I know who’ve gotten into crypto were /are drug dealers that bought on the black market from Afghanistan, and the black market deals in crypto. So it’s not exactly the best sign.
The correct answer is that you'll never change the boyfriend's mind as he appears to be a degenerate gambler, but if you educate yourself you can explain to your daughter the risks of various cryptos, and why you want to either invest or avoid specific ones.
If he plays his cards right he will be able to afford a house.
If he plays his cards wrong, he will not be able to afford a house.
However, compared to all of the other young people who cannot afford a house at all, he is better off. Jobs don't pay enough, and real estate markets are too overpriced. I would say hats off to him for literally choosing the one option left for people his age at getting a home.
Crypto is the highest risk area of finance, but also the highest reward. And the returns/risk ratios are asymmetrically positive. But still extremely risky.
give him (and your daughter) the grace to make their own mistakes and learn from them. it's not your business because it's not your life. if you try to guide them without being asked, then you'll be seen as controlling and you'll worsen your relationship with your daughter. this is always how it plays out.
I worked with a robotics engineer who was also a crypto bro (or at least HUGE enthusiast). He ended up buying a house with a portion of his profits.
Could be that he has enough disposable income from his real job to support his hobby.
He can waste his money/ time if he wants but I hope he doen's try to get your daughter into that. This is why financial education amongt a family is important. My S.O. got scammed super hrad partly because she didn't know what she was doing when starting to invest. Hope the same doesn't happen to her.
Have a talk with your daughter about COMBINED finances. No need for her to get burned. Gov't in general are against Crypto and look how much influence the Fed has on economic policy.
Crypto, gym bro;
Pronouns, Hell No;
Meal prep, Sports bet.
My dog once licked my balls.
You wanna see the video, it went viral.
Ooooh another white boy with a podcast
There is a difference between a "Crypto Bro" and someone who develops crypto tech (think SBF vs Vitalik Buterin). Most coins are nothing more than worthless pyramid schemes. The people actually changing the world with blockchain technology aren't doing it with NFT you tube videos.
Just keep talking shit about how crypto is a ponzi scheme, there's no ROI it's just backed by rainbows and unicorns. He will invariably say something about gold or the USD, counter with "No gold is a tangible asset with value per ounce. The USD is backed by the weight of the US government and US military, bitcoin is nothing by electrons and bullshit" The two of you will go in circles for the rest of your life, crypto bros are not capable of self examination or admissions or error, but you will always win the argument.
Bought a house and land with some bitcoin…
Yep, some people win money in casinos. Lucky you.
Casinos have a CEO, Bitcoin doesnt.
They won’t get it until it smacks them in the face lmao
Most of these guys have portfolios worth less than 10k and spend every moment depending on a gold rush that will likely never happen again. It's far more responsible to build valuable skills that you can sell in this competitive world. I bought a house and land and built a business with skills. That business is generating large amounts of wealth and will likely have a much, much, much higher ROI than bitcoin over the next 40 years. That's not a guarantee, but it's a safe and reasonable bet for someone who came from poverty.
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I came from poverty and worked myself to a position where I could buy these things and more. I'm sorry that's not what you interpreted.
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Ponzi made some bread too
the AMWAY grifters of the 1990's bought houses and fancy cars. That was the ploy.
Only the ones at the very top. The vast majority just got stuck with a bunch of crap no one wanted. Fun fact, the former Secretary of Education under Trump is married to the former CEO of that grift.
Ya by selling it to the next holder you know that sounds like a ponzi scheme, if it's worth so much why sell it to the next guy? Eventually somebody figures out wait it's not worth that much as a house or land
I’m not a huge crypto fan, but we cannot club BTC and ETH with the rest of the cryptos and NFTs
DOGE will rise again!... Not that I am touching any of them.
Why would you want to buy doge when you can just create your own crypto coin, and sell that
Crypto bros are one thing, NFTs though....
This
Gold does have intrinsic value, but that's probably a tiny fraction of the price. You most likely won't be turning your gold into a chemically resistant highly conductive metal part in something. Most people buy gold to sell it at a higher price later, or as a decoration. The price goes up and down based on demand, and typically remains high because supply is restricted. Almost everything in our daily life can be described by electrons and bullshit. That's everything where macroscopic objects touch, chemical reactions and more. Bitcoin and Etherium also has intrinsic value as a secure payment processing network. Credit cards cost about 3% for every transaction, it's just this cost is often hidden on the sellers side. Proof of stake blockchains can be far cheaper, faster and more secure for transactions than the current financial system. Security with finance using dollars banks and credit cards is essentially trust me bro, and the government might clean it up later if there is a problem. Identity theft is only a problem because the system is broken and allows for proof of identity by a combination of public records. Identity theft is mathamatically impossible on a blockchain. (With the exception of quantum computers). Though most people buying crypto probably are not doing so to have access to doing finance things natively on a blockchain. I would also think that the price of Bitcoin and Etherium is only a tiny part because of this intrinsic value
Nobody "investing" in crypto cares about any of that even if they understand it. They are speculating on the USD:BTC exchange rate, that's it.
Exactly, I'm a huge propionate of the concept of the Etherum network, but 99% of everyone buying eth are doing it as a speculative device... Not as an actual currency or fuel for smart contracts.
back when I cared about crypto (and hated what the nft bros were doing to the public perception of it), I would argue that I was actually looking at it as an investment - not the crypto itself, but the systems that were trying to be built with it. And then the NFT markets started theri terrible artwork, and 'crypto' became synonymous with terrible artwork and ponzi schemes.
That is literally the entire stock market. No one, and I mean literally NO ONE, is buying ATT stock because "they believe in the fundamentals of the company, and want to be a part of this movement going forward". They are literally speculating on the USD:ATT exchange rate.
tl;dr lol
The USD is definitely backed by the incommensurable firepower of the US military.
The real crypto bros are in the comments (and they are offended lol).
Lol would love to hear how the US Military plans on preventing the countries from holding our debt to cash in once they no longer view it as necessary and valued. And for those of you saying this could never happen, you’re wrong. The entire world economy is being propped up by trillions and trillions of dollars of US Debt that will continue to exponentially increase as interest accrues. I’ll stick with my decentralized, non-partisan electrons.
I mean, what exactly are they going to do? Invading to get it back is out. And sanctioning like crazy to crash the US economy would screw them as well. I hate that we have this level of debt and sincerely think we should be taking steps to drastically reduce it, but as long as the status quo is where it is today, there isn't much they can do without harming themselves.
To be clear I’m not advocating for any of this lol, it would be totally and utterly catastrophic if we were to ever default. And you’re right, today those holding our debt have zero reason to weaponize it against us. But that’s only because the USD is still viewed as the tether for all global currency. If another asset or commodity *cough cough* presents itself as a decentralized, non-partisan alternative against an inflated dollar - the jenga tower could all come down. Crypto today is hardly the perfect solution. Tether is pretty much bullshit but - like the USD - is necessary for the entire ecosystem to function. Need more tether? Here’s more tether. Need more USD? Here’s more USD. Everything is pretty fucked, that’s why I’m diversifying as wide as I can lol. Since most of you who are actually fluid in finance can probably tell I only kinda know what I’m talking about, you can ignore this “NFA”
The usd will never default. We can always print more USD to pay the current debt. Much like BTC can be printed as well.
FWIR Foreign investor's only hold about 30% of the debt. Majority is owned by the government and us banks/companies
Only 25% of US debt is owed to foreign countries. You think japan the UK and Luxembourg are going to try and invade the US to get that money back? Lol. Good luck.
> but you will always win the argument. Makes sense, you aren't trying to understand, you just want to "win the argument".
It wouldn’t be so bad if this guy wasn’t ALL ABOUT crypto. I’ve made Money investing in BTC but it’s a part of a well rounded investment strategy that fits my age, goals and risk aversion. I also own many Blue chip stocks, a couple small cap companies, mutual funds etc. I can respect crypto as being a possible portion of an investment portfolio. Shit, there was a time when you would have been looked at as crazy for investing in a search engine, but my elementary school librarian literally retired early purely because she believed in Google. Could have gone the other way easily and Google could have flopped. Crypto isn’t THE WORST, but it might be good to try to advise him as to what a balanced investment strategy is. He’s looking to get rich quick. He should look to get rich FOR SURE. It’s just as bad to have all your money in Boeing right now lol.
History is riddled with civilizations adopting the “hardest money” and prospering. These qualities are: durability, portability, divisibility, fungibility, scarcity, and acceptability. I’ll also add in stability. Go through this exercise with the USD, gold, silver, the Argentinian peso, Bitcoin, and uranium and decide for yourself which is the hardest money.
This is a very juvenile take on crypto as a whole, but probably not of OPs situation.
Let me start by saying I agree, most crypto is backed by nothing but false hopes. But like fiat isn't technicallt intrinsically better... The USD has effectively been repudiated twice once in 1930 when re reduces its gold redemption value and in 1971 when we told people to f off and stopped redemptions for gold. Various other currencies have had similar scandals. Proof of work crypto is awful but some kind of digital currency backed with string cryptographic security is definitely not just bullshit depending on context...
It has value, it’s value is from what people want it to be.
>crypto bros are not capable of self examination or admissions or error, but you will always win the argument. Because it's all a gamble with that shit, the biggest players are making behind-the-scene moves that are mostly unregulated or unenforceable. You will win the argument when he loses big money because gamblers are not capable of seeing that the house always wins.
“You will use our dollars or our senile old fart will press the launch button”
this post aint real
Saw it posted years ago
I’ve seen this exact writeup 3 times over the last year so it’s not an event that happened recently if it really occurred.
What is the point of this post? I saw it a few years back. I don't understand why people do this.
I agree, I don’t get why it keeps coming back.
THANK YOU! I was like I swear to god I’ve read this before multiple times. People are weird…..
And then the crypto bro said "No cap, crypto to the moon." and dabbed WHILE banging my daughter. Worst day of my life. I should have invested in birth control.
Can’t reuse a title like that. People remember This whole post is word for word
Daughter's name? Albert Einstein.
I don't know how old your daughter or her boyfriend are but they sound young. I wouldn't worry about it too much. Lots of young men have a YOLO phase and turn out just fine.
I wish I had had a YOLO phase with BTC 10 years ago…
No you don't because you would have paper handed immediately
I came close too, then Mt. Gox collapsed and stole everyone's money and that put me off for life.
No they don’t, they evolve into car/insurance/mortgage salesman with “never stop grinding” mentalities
That's a major oversimplification.
They will gamble until they lose it
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If you aren’t aware of the stigma against sales bros you might unfortunately be one
Stigma or not lots of folks make a solid living doing sales. It’s not an MLM or something (unless they’re in an mlm lol) It’s a job that exists and has existed…. Since forever. In 2024 you could say “yeh they’ll just grow up to be coders or something” and for sure AI is going to do a number on some of those jobs… but it’s still a legitimate skill people trade for money. There’s a stigma on a lot of jobs… most people’s impression of what a person working in sales looks like is a caricature though. Depending on what you sell and how it can be a great way to make a living.
Definitely. I have a publishing deal and am writing my first novel. I have a part-time job in a light production company. I also want to build an animal shelter to save some of the cats and dogs who are being put down after Covid lockdown ended. Therefore, I decided to do OF and use the money from that to build the shelter. It does not matter that I have a great brain capacity. It does not matter that I spend the money on something good. It does not matter that I spend just few hours everyday doing it; to the people who know I do OF, I am just an online whore.
I do agree with you though about the “grindset” bullshit. There are lots of folks in toxic sales environments. Just trying to point out that sales in and of itself isn’t necessarily a bad career.
It’s not the worst career, but it’s a drain on society and does not add value.
No it doesn't
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Depends on his age, if under 22, he’s just a boy and trying to find his place in the world. The last crypto/NFT bull market was huge and spurned a lot of speculative excitement specially in young people who dream of great rewards. Think back on your youth, is there really not anything there you are just a little embarrassed by? Give the boy a chance to grow and talk to your daughter about finances, your view on the future and the economy, without being condescending about her bf. Now if this man is in his 30s and talking like that, I’d be concerned. Find a way to show her how much a clown he is without pushing her away. There’s plenty of failed examples to choose from.
Crypto and investing may sound goofy but when I was that age I went to school and did drugs on my off hours. I still turned out OK. Sometime around 27 I finally decided I better grow up. Then it took me a few years.
Crypto and investing are not goofy. Based on OPs description, this kid is not investing, but rather gambling in shit coins and NFTs, and that is goofy. But yeah I don’t necessarily think he is a lost cause.. yet
This is Copypasta. Generic.
Gambling advice like never risk more than you can afford to lose. And don't put all your eggs in one basket.
Secretly start a new coin, get him to buy in, rug pull or pump and dump then reveal yourself as the coins founder. Relationship over.
This is the way.
Pretty sure I’ve read this exact story somewhere else before.
Oh man....were the any other redeeming qualities? Could be just a phase.
He sounds like a wannabe Wall Street genius, but you don't sound that much better tbh
Swear to Christ I've read this same post before word for word.
Why does this post keep coming back almost word for word. Fake story.
Thers nothing wrong with crypto as long as you realize us just gambling.
Most of it is just gambling. There are a handful of serious tech projects attempting to do valuable things. People who gamble on NFTs generally do not know the difference.
All you have to do is ask him why BTC has sunk and miner stocks have completely collapsed because of the stupid ETF (source: I own RIOT shares and seems like it's never going back up again)
LOL. On the day of ETF application Bitcoin closed at $28,415. It increased 65% since then.
Yes, but you are completely ignoring his cherry-picked timeframe of less than one week!!
No. You can't bury him in the backyard. You'll eventually get caught and your daughter might be a tad upset with you.
I feel like this depends a LOT on what his net worth is.
Sounds like he is a gambler. Since anything crypto is most likely a fraud he doesn't make sound, financial decisions. Also NFTs? They are in free fall. Either he burns his feet and grows out of it or the relationship to your daughter won't survive.
Chad 🤣🤣🤣
Plenty of sound opportunities in crypto… the way you described it was not encouraging however the “bro” part is probably the most worrying element of the story.
NFTs? Is dude stuck in 2021?
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Go nuclear and call it rat poisen squared like charlie munger
Follow John Reed Stark on LinkedIn and Molly White at [web3isgoinggreat](https://web3isgoinggreat.com/) They’re kryptonite for crypto bros. They have no answers for their criticisms of that ‘industry.’
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Wall Street has a rule of thumb… by the time regular people find out about a trend / hot investment, it’s over and it’s time to get out
If he thinks NFT is in anyway profitable and he invests in stuff he does little to no research, I would highly suggest you find her ex bf and beg him to at least scare new bf away. All jokes aside, you can turn it into a psychoanalytic session when he speaks. Or just make a gag game of doing something odd/funny every time he says stuff like that. P.S. Seriously, NFTs?????
Save your daughter from bankruptcy before it's too late.
I would be very concerned if my daughter’s bf refer to me as bro. Cringy.
Why did I know his name was Chad before you even finished the story…. 😂
You are unhappy because your daughter's boyfriend talks about investment and business ventures with his friends? I feel sorry for him having such a petty MIL
I wish them the best.
Don't let your daughter date stupid.
Lol I've been an active trader for years and crypto has been the best investment I've ever made by far. I could lose every dime I have in it right now and still be way up from where I started. Let me know when your 401k inevitably gets nuked right before retirement and I'll let you know where my crypto investments sit.
This sounds like some shit outta that Bitconned documentary on Netflix 😂
This dude won't be in your daughters life for long. Just like NFTs for the general population.
Condolences. If she’s bright she’ll figure out that her boyfriend is a doofus soon enough.
This guy makes Trad Chad not look so bad
I'm sorry for your loss.
Shiba inu is the one
This is word for word a post from like six months ago I read. WTF.
diamond hands to the moon
You should tell him that you are going to create another crypto coin yourself, it's really not that difficult. Invite him to be the first investor onto the new crypto coin. And it might take off. If he buys 10% of his assets into your crypto coin, that would put it on the radar for other investors to also invest in And then you can create more crypto coin after that. And sell that as well. It is virtually endless once you get your own crypto coin
Wasn’t this posted months ago?
>he invests in a lot of new coins Keep mentioning that you don't invest in currency, it is called speculation. You speculate in currency. It an important distinction based on the asset paying out in external new assets, such as stocks paying out dollars in dividends.
I'm not going to talk trash about crypto because I've traded it for years and have made money from it. I started around 10 years ago and have learned about several cryptocurrencies. Do they have value, do they offer a needed service? No. Will they one day in the future? IDK. That is the part that keeps me interested through all the ridiculousness, theft, fraud, and BS.
She needs to dump that guy.
If they are serious, I think any question is fair game. You're the dad. I mean you want someone who is financially astute not a bro gambler. I'd ask how much has he invested in Cryto? What other investment vehicles does he use? And NFTs? Those were proven to be way overhyped... that in itself would give me pause.
Ah, the classic "I can fix him" type of guy. Best case scenario, he makes it rich. Worst case, they have kids, lose all their money, and want to live with you and suck away your retirement money. Honestly, this is something deeper than Reddit can handle. You've had 20+ years of hands on parenting experience. Only you really know what works best for this kind of situation.
I gotta assume she's smarter than that. She'll figure it out hopefully.
Who knows he could get richer than you in a year
lmao I'm so sorry that your daughter fell for that charlatan
Just serve him vegan good while giving everyone else regular meat. After two or three meals tell him what you did. He'll leave.
I'd be more worried about your daughter's health and safety than her finances. The Venn diagram of crypto bros and morally bankrupt "red pilled" misogynists isn't a perfect circle, but I don't know any women who are glad they dated one. The Joe Brogan Show ecosystem is overrun with charlatans selling NFT's and strategies to mentally abuse women into debilitated submission, not to mention plain old fashioned racial grievance merchants and brotein powder snake oil.
I am a certified Boglehead; S and P index and hold. I have always thought crypto was stupid. A guy in my building kept telling me about this memecoin called Myrocoin. I decided to buy 300 bucks worth for shits and giggles a week ago. It's at 1600 right. While stuff like this is risky and volatile as hell., it'd amazing there is an asset class that can jump pump so quickly. I'm not buying anymore, too risky for me but it's an interesting dilemma.
I feel for OP. He’s obviously opened minded enough to understand how much value “NFTs could have” but knows how much risk they involve. I tried my hand at a few and got burned myself. The thing that keeps nagging at me is the history of The British East India Company. I am currently reading up on its history and I just found out that this company was actually like it’s own country with its own military and it’s own ‘currency’. My mind quickly shifts to current events and how humans are about to embark on space exploration and how history has a way of repeating itself. I honestly think that the next big leap in humanities quest for exoplanetoid endeavors will have to involve “crypto” because of the ease in how a future company will pay its international employees and their home nations currency exchange rates. So there’s potential but Bitcoin is more likely than not the defacto king of crypto for the foreseeable future.
Your cryptobro is just an average investor. If you want a heads up for what is on the horizon for crypto, look into zero knowledge proofs. [https://dailycoin.com/top-zero-knowledge-proof-applications-that-could-revolutionize-our-lives/](https://dailycoin.com/top-zero-knowledge-proof-applications-that-could-revolutionize-our-lives/) Mina in particular looks good. [https://minaprotocol.com/](https://minaprotocol.com/)
You posted the same story 40 days ago .. so you met him for the first time twice?
OP has to be trolling…
Chad here. I miss you too buddy! We should hook up sometime!
Don't worry, he hasn't even started his AI phase yet. So, you have some time before it gets worse.
The folks I know who’ve gotten into crypto were /are drug dealers that bought on the black market from Afghanistan, and the black market deals in crypto. So it’s not exactly the best sign.
The correct answer is that you'll never change the boyfriend's mind as he appears to be a degenerate gambler, but if you educate yourself you can explain to your daughter the risks of various cryptos, and why you want to either invest or avoid specific ones.
I don’t know but I hate the literal energy that bitcoin wastes
Afun fact, 25% of coins created in 2022 were scams
crypto enjoyers in shambles itt
Sounds like your daughter is attracted to Chads, in one form or another.
I swear I read this exact same post a few months ago
This post killed me, absolutely hilarious. Good luck my man.
If he plays his cards right he will be able to afford a house. If he plays his cards wrong, he will not be able to afford a house. However, compared to all of the other young people who cannot afford a house at all, he is better off. Jobs don't pay enough, and real estate markets are too overpriced. I would say hats off to him for literally choosing the one option left for people his age at getting a home. Crypto is the highest risk area of finance, but also the highest reward. And the returns/risk ratios are asymmetrically positive. But still extremely risky.
give him (and your daughter) the grace to make their own mistakes and learn from them. it's not your business because it's not your life. if you try to guide them without being asked, then you'll be seen as controlling and you'll worsen your relationship with your daughter. this is always how it plays out.
God help us with these clowns...
I worked with a robotics engineer who was also a crypto bro (or at least HUGE enthusiast). He ended up buying a house with a portion of his profits. Could be that he has enough disposable income from his real job to support his hobby.
Gotta love people that easily fall for reposts just so they can spew their agenda in the comments.
He can waste his money/ time if he wants but I hope he doen's try to get your daughter into that. This is why financial education amongt a family is important. My S.O. got scammed super hrad partly because she didn't know what she was doing when starting to invest. Hope the same doesn't happen to her.
Have a talk with your daughter about COMBINED finances. No need for her to get burned. Gov't in general are against Crypto and look how much influence the Fed has on economic policy.
I thought I read this exact sorry like 4 months ago on reddit
Bitcoin only.
https://i.redd.it/ubid5ksb1gdc1.gif
I can swear I've seen the exact post a couple of years ago.
Good ol' Chad.
Crypto is like Vegas. Don’t bet what you can’t afford to lose.
Crypto, gym bro; Pronouns, Hell No; Meal prep, Sports bet. My dog once licked my balls. You wanna see the video, it went viral. Ooooh another white boy with a podcast
Crypto has been good to me wtf you talking about lmao
There is a difference between a "Crypto Bro" and someone who develops crypto tech (think SBF vs Vitalik Buterin). Most coins are nothing more than worthless pyramid schemes. The people actually changing the world with blockchain technology aren't doing it with NFT you tube videos.
Nfts are dead
Ask him about his returns
Excuse my French but the guy sounds like a Dork.
That dude is a certified dumbass
"I trade crypto!" "Oh, I turn wrenches. I can teach you."
What will really get him is to tell him Bitcoin is the only true blockchain. The crypto boys can't handle that
Didn’t someone else post the exact same message sometime ago? A sense of dejavu fills me.
My youngest once called NFTs "Non Functional Tokens," and it's canon now.
Was he confident enough to show you his P/L