I just showed my parents how bitcoin and lightning network works

…and they’re beyond astonished! They’re both in their 60s and I am so grateful that they’re taking an open-minded approach to this new technology.

That was a tldr

Now for the story

I’ve started reading The Bitcoin Standard and my parents got curious on why I’m reading it as they’ve hardly seen me reading any books.

This is when I started prepping the orange pill for them. I took in a deep breath first.

I explained how bitcoin not only works as a currency, but also as a payment network and a store of value. Told them about mining and how difficulty increases every four years. Talked about its decentralized character and how no one could print it, effectively preventing inflation. Compared it with gold, explained how it’s even better (as they’re huge believers in using gold as store of value).

The moment of truth came when I downloaded a lightning wallet in my dad’s phone. Let him scan his phone using mine, and within 2 seconds, he received the fund.

I told them this action just happened without a middle man, a bank, a govt or an entity. This could’ve happened across the globe for a fraction of a network fee. The only requirement was an internet connection.

My dad had spent too much money in his life only in fees to banks and exchanges to transfer his wealth abroad. He was speechless seeing what happened.

Now they’re no more skeptical, until couple hours ago, bitcoin was just another “crypto” for them used for trading and gambling.

Now they know the real intention of Satoshi Nakamoto. And boy am I one happy son now!

Submitted July 28, 2023 at 11:25PM by hitma-n https://ift.tt/6sXeZlu