Talking Crypto and NFTs With an Oldschool NYSE Broker

in LeoFinance5 months ago

I say it all the time that we're very lucky to be here and we are very early in crypto. There's still a massive amount of people in the world that have never heard of cryptocurrency. When I go out in public (kinda rare, I'm a bit of an introvert) and talk to people, I generally mention crypto just to see if they know anything. I quite enjoy doing this at bars, having a beer and trying to talk crypto with strangers. The most common reaction I get is that they generally don't know anything about it, especially when I try talking NFTs.

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We went to visit my mother-in-law today as she got off work and we hadn't seen her for Christmas. Her friend was over, he's 79 and very healthy. He loves talking stocks and finance so we always dive into crypto when we see each other. He worked one the floor at the New York Stock Exchange in the 60s (I think, maybe 70s) and was a broker. He described to me how they would get orders and would have to walk around to different desks to try and find buyers or sellers for the particular stock ticker symbol. It kinda blew my mind that this was all done manually back then. I'm pretty young so hearing him describe processing market and limit orders on paper was nuts. After this he asked how the crypto market was doing.

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He always asks me about crypto and I was telling him about the Bitcoin ETFs and Bitwise index funds. I showed him these because this guy barely knows how to text on his iPhone, but he can understand stocks easily due to his background. He was very intrigued by the Bitwise 10 Crypto Index that's traded on NYSE because he could get exposure to 10 different crypto assets easily. Personally I'd much rather have the crypto itself, but for someone like him I think a publicly traded index is a great idea. He could never manage to set up a crypto exchange account and get to trading because he has no idea how computers work. But he can have his broker purchase shares of crypto index funds easily.

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I explained Hive to him and showed him how I'm earning crypto by writing and he was just in awe. Then I was telling him about play to earn gaming which completely blew his mind. I showed him DeFi and crypto loans. It was so cool to see his reactions to what's possible with this new kind of asset. I even showed him NFTs and told him about Kraken launching NFT backed loans. He comes from a time when none of this was even conceived and was able to understand what I was saying. It's never too late to get involved with the financial system of the future. No matter your age, location, or even financial situation, crypto knows no bounds. People from all over the world have the opportunity to get involved with gaming thay earns them crypto. We're witnessing lives being changed by crypto every day. We're all very early.

WAGMI here on HIVE.

Thanks for reading.

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Man, I love having these types of chats with proper old-school brokers or traders from the floor days.

They're certainly a dying breed too, so cherish the time you get!

He described to me how they would get orders and would have to walk around to different desks to try and find buyers or sellers for the particular stock ticker symbol. It kinda blew my mind that this was all done manually back then.

How good :)

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oh yeah definitely

Great thing to share crypto and blockchain with OGs of legacy finance. Found this post shared on #PYPT and was also shared on Sarge's Twitch Stream!

Absolutely. it felt like an honor.

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Thanks for sharing on #PYPT!

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I loved reading this post so many of the older folks really have a tough time understanding crypto and all the potential it has hell even a buddy of mine close to my age is dumbfounded by it and refuses to learn it or accept that it is the future.

I told him when he is inevitably forced to look at it I will still be there for him but at that point, it will be a different place with the masses trying to jam in.

I consider myself lucky to have found out about crypto when I did and finally took an interest in the very exciting revolution that is coming.

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Yeah you have people that are open to it and people that aren't. Very rare to catch a person in their 80s that will even listen about crypto. We're all more than lucky.

Aaah this is such an awesome story. Gosh, your friend really has seen a complete revolution in investments in his life! How fascinating for him now to be able to explore Crypto vicariously through you (and have the opportunity to invest via the stock Exchange too!) and for you to gain insights into how things were done in " the good ol' days". Amazing. Thanks for sharing this on PYPT.

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Right! I can't even imagine what kind of brain explosions were happening during that conversation. Thanks!