My Retiring Father’s Crypto Concerns
I'm having a discussion with my father(62) who is approaching retirement age about using crypto as a way to diversify his investments. He will have a comfortable retirement regardless of adopting cryptocurrency; but I'd like to turn him around on his stance. He understands the store of wealth concept; but doesn't think crypto works as a currency. His takes:
- Takes notice of high transaction fees compared to standard credit
- And experiences FUD regarding the federal government not adopting/outright banning crypto. Obviously no entity can "take down" crypto; but I kind of see his point that sanctions from the US government would limit its practical applications and/or value.
Background: He is a tech guy, and has always been a proponent of innovation and moving things forward while also being a highly skeptical person who hails from a small-farm in a very rural area. He helped introduce GPS precision mapping to farming in the 90's. Builds his own planes, invested in the internet pre and post bubble. Forward-thinking guy all around; but gives no time to bullshit or pipedreams. Not a dreamer if you will, very much a pragmatic realist.
What can I tell him regarding those two points? I really would like to win him over with some honest talking points. And honestly, I'm interested in learning more about those issues myself.
submitted by /u/Dreaducate
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