How to handle your family roasting you about crypto this Thanksgiving
Your family already thought crypto and NFTs were laughable and a complete scam...here are some strategies to maneuver the Thanksgiving table.
joshyote ✌️👽
November 22, 2022
gm ✌️
For Americans, Thanksgiving is this week. And for many, that means getting together with family and getting roasted about how stupid you are for being involved in crypto and NFTs!
The market is awful, the news is worse, and crypto has left a bad taste in most people's mouths.
Your family already thought crypto and NFTs were laughable and a complete scam. Now with the bear market and all the bad news related to FTX and other crypto collapses, it only looks worse.
Here are some strategies for handling your trash-talking, anti-web3 family this Thanksgiving!
And if you were one of those giga-chads that convinced your parents to buy ETH at $4k — good freaking luck!
ETH going to 3 digits just in time for Thanksgiving.
Enjoy the quality time with your family who aped in at $4800 based on your non-financial advice 🫡
— Bernardo (@bernardo_cafe)
Nov 21, 2022
But first, this week's top collections by volume:
All the usual suspects are leading in volume again this week. The only new addition is Cel Mates by Mcbess. This collection looks ready to make a little run, but we'll see how long the hype can last in these market conditions. It seems like long-term holders are still consolidating in name-brand projects like Art Blocks and BAYC properties.
How to maneuver the told-you-so's and downright angry shit-talking that your family is about to send your way
Yeah, you're about to get a couple of earfuls. If it gets too gnarly, give some of these strategies a try:
Acknowledge their concerns
Your first step should be to acknowledge their concerns. It's important to remember that your family is coming from a place of love, even if they don't understand your involvement in crypto. They may be worried about you losing money, or they may have heard negative things about crypto and think you're being taken advantage of. Whatever their reasons, try to see where they're coming from and validate their feelings.
It's probably best not to tell them just how much you spent on your Art Gobbler, and how much it's worth now.
Educate them
Once you've acknowledged their concerns, it's time to start educating them about what you're doing. This is where you can talk about why you're involved in web3, what benefits it has for you, and how you're managing your risk. If there are members of your family who are open to learning more, this can be a great opportunity to teach them about something new.
Be prepared for the worst
Unfortunately, not everyone will be receptive to what you have to say. Some people will be outright hostile and may try to bait you into an argument. In these cases, it's best to just walk away and let them cool off. There's no point in getting into a shouting match with someone who isn't going to listen to reason.
Keep calm and crypto on
At the end of the day, it's important to remember that not everyone is going to understand or accept what you're doing. But as long as you know that you're making sound decisions based on your own research (because that's what you're doing, right anon?), then there's no need to worry about what other people think. Just keep calm and carry on with your Thanksgiving feast!
Bonus:
Set up crypto wallets for them and send them a really stupid NFT, or buy them an ENS Domain.
Some people in your family may be more receptive to crypto and NFTs if they can see how easy it is to use and what benefits there are. You can help set them up with wallets and then send them a really stupid NFT as a way of getting them started.
Relevant bubble-burst precedents with favorable outcomes
This isn't the first time we've seen an emerging technology ride the zeitgeist, ascend to untenable heights, and come crashing down — only to rise again like the phoenix!
Here are a few relevant crashes and the phoenixes that rose from their firey ashes:
The Hobbyist Computer Industry Crash of 1975 and the Rise of the "Trinity" in 1977
The birth of the modern PC came from the ashes of a short hype cycle of computer hobbyists in Menlo Park — Woz was there.
A few short years later, the Trinity(Apple II, Commodore PET, TRS-80) hit mass markets and the concept of a personal computer was realized.
Take a fun, interactive trip through PC history here from Google Arts & Culture.
The Video Game Industry crash of 1983 and the Rise of Nintendo in 1985
In the early 1980s, Americans were going wild for video games. It was a feeding frenzy and the industry was making more money than it knew what to do with. Then, just as quickly as it started, it all came crashing down.
Video game sales dropped 97% from $3.2 billion in 1982 to $100 million by 1985.
Everyone thought home video game consoles were a fad...then came Nintendo.
You can read more about the 1983 video game crash here.
The Dot-Com crash of 2002 and the Rise of FAANG in 2004
Although FAANG stocks aren't looking amazing right now, they are a far cry from the desolation they rose from after the dot-com bubble popped.
The dot-com crash was "triggered by a combination of speculative investing, market overconfidence, a surplus of venture capital funding, and the failure of Internet startups to turn a profit."
Sound familiar?
VCs were investing in pretty much every half-baked idea thinking they would be successful just because "internet."
It's easy to draw many parallels between the dot-com crash and the current crypto crash.
So the trick now is to find the FAANG of web3.
This bubble?
Bye Bye, Zuck
MARK ZUCKERBERG IS SET TO RESIGN NEXT YEAR: THELEAK $META
— FXHedge (@Fxhedgers)
Nov 22, 2022
Big if true, and what implication would this have on the meta metaverse?
It's likely that Zuck would spin up something new, right?
Have you been scoping out the icy.tools Learn section?
We have some stellar guides and resources for learning about all things NFTs. New guides are added weekly.
Pretty sweet, we know.
prepare yourself
Me at Thanksgiving last year: “crypto to the moon!”
Me at Thanksgiving this year “buy the dip!”
Me at Thanksgiving next year (probably): not invited
— greg (@greg16676935420)
Nov 21, 2022
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