Advice to friend for financial improvement. - page 6.

HONDACD125

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Quote from: Bd officer on October 08, 2023, 01:16:46 AM

I've noticed a topic in the Bitcoin discussion. I was encouraged by reading the Topic, I thought if anyone would benefit financially from me. Instead of buying an iPhone, if one invests in Bitcoin, his future will be bright. Now if someone invests in Bitcoin with the same amount of money to buy an iPhone, it is expected that in 2-4 years he will be able to buy 1 iPhone with the investment profit. Also, Bitcoin halving in 2024, investment during this time can be very profitable. With that in mind, I suggested buying bitcoins instead of buying iPhones in my local thread. I searched among my friends to see if anyone would buy an iPhone, finally one of my close friends lives in my country's capital. Working in a good company and getting salary of $500 per month. Buying that friend's iPhone is easy. He came to visit my house a few days ago. My friend had a $200 normal phone, one time I talked to him he said he was going to buy an iPhone 15. I can't knowingly recommend my friend to buy an iPhone. I got good knowledge about Bitcoin, I suggested my friend to invest in Bitcoin thinking about his future development. Given all the ideas about Bitcoin, my friend at one point decided to invest in Bitcoin instead of buying an iPhone. Suggested my friend to invest in Bitcoin by following DCA. My friend bought $200 worth of bitcoins for the first time. It will try to gradually increase its investment growth.

I think iPhone is not needed by every person, but a normal mobile can be used by a person as compared to iPhone. Most people use the iPhone for fashion reasons, even though a simple cell phone can do the same things we do with an iPhone. You have given a very correct advice to your friend, that it is better to invest in Bitcoin than buying an iPhone, but this advice is relevant for everyone to invest in Bitcoin instead of buying anything expensive. If done, one can get a good profit in future.

Even at the current price, Bitcoin may prove to be a very suitable investment, but the DCA method is also better. Like you, if we all keep giving such useful tips and information about Bitcoin to people around us, surely people will be able to earn good profits by investing in Bitcoin.

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Quote from: BlackHatCoiner on October 08, 2023, 06:25:04 AM

I don't get the people who buy the latest iPhones. It just makes no fucking sense. You're getting a basic income, around $800 in my place, and you prefer working your ass off for 2 months straight, just to get an iPhone than getting a normal smartphone, with a thousand euros left to pay bills and stuff.
~snip~

Because we have turned into a society where consumerism rules and where social status is shown precisely with a new smartphone, an expensive watch or an item of clothing. I personally know people who give up a lot in life to be able to buy such things, some even at the expense of their own family, which does not seem harmless at all.

In addition, that famous smartphone has been brought into context with Bitcoin so many times on this forum that I wonder what it has to do with each other and why these comparisons exist at all. I could still understand the fascination when someone found a Bitcoin white paper on Apple computers, and it was interesting to me, especially considering that it was removed from newer versions because someone estimated that something like that could harm them.

As for the doubt about whether someone should buy a new iPhone or invest in Bitcoin, I think that one should not necessarily exclude the other - because if you have $1000 for a phone, then it is certainly not a problem to allocate a few hundred $ if you already want to invest in Bitcoin.

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I wouldn't convince others what they should do with their money, how they spend it and how much they invest. It's a nasty business because if anything goes wrong, that person will likely blame you and will regret listening to you, and for people unfamiliar with the Bitcoin market, seeing the price drop, like, 25% (which is totally realistic) can already lead to panic.
I do agree that buying Bitcoin is better than buying an iPhone. However, Bitcoin is an investment (or a currency), while an iPhone is something people buy because they like having it or like seeing how other people react to them having it. Nobody buys an iPhone as an investment (in a sense of hoping to resell it later at a higher price). iPhone is bought to be used and to enjoy some prestige, perhaps, but everyone's aware that it's a short-lived thing.

Issa56

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Quote from: Bd officer on October 08, 2023, 01:16:46 AM

I've noticed a topic in the Bitcoin discussion. I was encouraged by reading the Topic, I thought if anyone would benefit financially from me. Instead of buying an iPhone, if one invests in Bitcoin, his future will be bright.

You shouldn't invest all your fund's in bitcoin. Because you are interested in bitcoin investment, that doesn't mean you won't get yourself other necessary things that you need. Bitcoin investment shouldn't be done by force, if you are in need of an iPhone, then get it. You can't invest in bitcoin when you are in need of money or when there are some necessary things that should be done. Bitcoin investment should be done with the amount that you know if you lose, it's not going to affect you, don't force yourself to invest big in bitcoin. No amount of bitcoin is too big or too small, so don't do anything that will make you uncomfortable just because you want to invest in bitcoin.

Quote from: Bd officer on October 08, 2023, 01:16:46 AM

Given all the ideas about Bitcoin, my friend at one point decided to invest in Bitcoin instead of buying an iPhone. Suggested my friend to invest in Bitcoin by following DCA. My friend bought $200 worth of bitcoins for the first time. It will try to gradually increase its investment growth.

I hope you inform your friend everything he should know about bitcoin. Did you inform him what bitcoin is all about? He shouldn't invest without knowing what he is investing in, and I hope his investment will be for the long term. You shouldn't just promise your friend profit after investing in bitcoin, tell him about wallet security and how he can properly store and secure his wallet private key. Your friend has a lot to learn about bitcoin.

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Quote from: BlackHatCoiner on October 08, 2023, 06:25:04 AM

I don't get the people who buy the latest iPhones. It just makes no fucking sense. You're getting a basic income, around $800 in my place, and you prefer working your ass off for 2 months straight, just to get an iPhone than getting a normal smartphone, with a thousand euros left to pay bills and stuff.

As for bitcoin, I'd absolutely suggest anyone to spend some hours and learn what it is. No one should be putting their money in stuff they don't understand, and lots experience this in cryptocurrencies who are usually victims of hacks and fraudulent schemes.

If a person has an average basic salary and is not well off, spending money to buy an expensive iPhone is really a waste and unnecessary. Meanwhile, if they have a long-term vision, it is better for them to consider investing and accumulating assets. But if a person has a good income and has achieved success after many years of effort, there is nothing wrong with them enjoying life. We invest in bitcoin to make more money and have a better life, so if we achieve that goal then enjoying it is the right thing to do. I won't buy an iPhone or luxury things now, but when my investment is successful, I won't hesitate to treat myself to an iPhone or a car.

2Pizza410000BTC

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Quote from: Bd officer on October 08, 2023, 01:16:46 AM

I've noticed a topic in the Bitcoin discussion. I was encouraged by reading the Topic, I thought if anyone would benefit financially from me. Instead of buying an iPhone, if one invests in Bitcoin, his future will be bright. Now if someone invests in Bitcoin with the same amount of money to buy an iPhone, it is expected that in 2-4 years he will be able to buy 1 iPhone with the investment profit. Also, Bitcoin halving in 2024, investment during this time can be very profitable. With that in mind, I suggested buying bitcoins instead of buying iPhones in my local thread. I searched among my friends to see if anyone would buy an iPhone, finally one of my close friends lives in my country's capital. Working in a good company and getting salary of $500 per month. Buying that friend's iPhone is easy. He came to visit my house a few days ago. My friend had a $200 normal phone, one time I talked to him he said he was going to buy an iPhone 15. I can't knowingly recommend my friend to buy an iPhone. I got good knowledge about Bitcoin, I suggested my friend to invest in Bitcoin thinking about his future development. Given all the ideas about Bitcoin, my friend at one point decided to invest in Bitcoin instead of buying an iPhone. Suggested my friend to invest in Bitcoin by following DCA. My friend bought $200 worth of bitcoins for the first time. It will try to gradually increase its investment growth.

I certainly support your suggestion. Your friend invested in Bitcoin as you suggested and no doubt did very well. Now that he bought bitcoins for $200 he would be doing himself a favor if he could keep those bitcoins invested and profit from them. Later this love of his will further increase his investment. But here I mean that you must explain all the rules and regulations of investment to your friend. Create his investment holding account in such a way that no one can hack it. From here your friend can blame you if your friend is in danger. So OP I want you to tell your friend to prepare a very secure wallet and keep the seed phrase of that wallet in a very safe place so no one can steal it.

lombok

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Advising friends or family to invest in Bitcoin is very difficult. But you can do it. Your understanding and delivery method should be appreciated. Everyone's obsessions are different, some people like to invest with the salary they get. There are also those who like to spend their salary for personal pleasure. Judging from OP's story, your friend is so obsessed with iPhones but subconsciously he started investing. This is a good step, only close friends can have a big influence on someone.

I admit that the iPhone is a good product with all its qualities, and many people are competing to get it. However, it would be a shame to just pass up Bitcoin. Hopefully the OP can be a good guide for people around there. I suggest you continue to guide your friends so they don't get caught in coin scams.

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People now buy trends instead of thinking about their future. They can easily buy expensive items whose function can be replaced by cheaper items. They are buying an iPhone 15 for example. People can buy cheaper smartphones than buying iPhones. But they want to stand out more than their friends so they are willing to spend more money to follow a trend.

If they knew that investing in Bitcoin for the price of their iPhone would be more profitable for their Bitcoin, they might prefer Bitcoin. But unfortunately, many people don't know the benefits of Bitcoin and the profits they can get from Bitcoin. So they will prefer something they already know well.

If your friend prefers Bitcoin to iPhone, he has made a good decision because Bitcoin can provide big profits in the future. And when the price of Bitcoin rises very high, he will see which is more valuable, Bitcoin or iPhone. But we can not blame them because that is their choice.

You can watch this short video from YouTube to know what people will choose:

Code:

https://www.youtube.com/shorts/itGFdTFbNRs
https://www.youtube.com/shorts/7Thdde7oOX0
https://www.youtube.com/shorts/ma8FYyKUS0I

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Quote from: Bd officer on October 08, 2023, 01:16:46 AM

I've noticed a topic in the Bitcoin discussion. I was encouraged by reading the Topic, I thought if anyone would benefit financially from me. Instead of buying an iPhone, if one invests in Bitcoin, his future will be bright. Now if someone invests in Bitcoin with the same amount of money to buy an iPhone, it is expected that in 2-4 years he will be able to buy 1 iPhone with the investment profit.

@OP, I enjoyed reading your advice. If your friend trusts Bitcoin as you suggested. If your friend invests in Bitcoin instead of iPhone then after 2-3 years his financial position will be much better than now. But I can tell from my patience strength that it is very difficult to keep for 2-3 years. But if your friend can be patient he can get 20x profit. Since after Bitcoin halving in 2024 I suggest to sell 50% from investment. Because after halving, good pumping tax may dump some amount. Then it will be good for your friend to buy again.

libert19

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Quote from: eightdots on October 08, 2023, 06:20:46 AM

Quote from: libert19 on October 08, 2023, 06:08:30 AM

Quote from: Bd officer on October 08, 2023, 01:16:46 AM

I've noticed a topic in the Bitcoin discussion. I was encouraged by reading the Topic, I thought if anyone would benefit financially from me. Instead of buying an iPhone, if one invests in Bitcoin, his future will be bright. Now if someone invests in Bitcoin with the same amount of money to buy an iPhone, it is expected that in 2-4 years he will be able to buy 1 iPhone with the investment profit.

I'd agree with your suggestion. If one has to chose between some pleasure (iPhones are not necessity, are they?) and investment first, it should be investment always, and pleasures should be fullfilled with profit from investment(s). Hence best of both worlds.

It is always good to invest instead of spending unnecessarily. The opposite of this situation can happen in the following way. A person may really want to buy an iPhone and buys it. Sometimes in this life we should do things that we enjoy. What you say about the iPhone may be true, but it means nothing to a person who wants an iPhone.

Investing is important for our lives, but so are our pleasures. In some cases I can choose investment and in some cases I can choose pleasure. I can't blame anyone for that. It is best to give information and leave the choice to the other person instead of interfering with their preferences.

Appears you misunderstand my statement. I said, enjoy pleasures from the profit of your investments. If you buy an iPhone from capital, your money is gone, while capital invested and buying iPhone from return of your investment will keep your capital intact.

Ultegra134

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Quote from: Z-tight on October 08, 2023, 02:32:03 AM

BTC doesn't make your life bright, you can live a good life without ever usng BTC, to live a better life and have a good future, you simply need to work hard, be financially responsible and try to increase your income; and you can do all of these without using BTC. Take note that BTC is volatile, and people also lose money when they use it as an investment.

It's about time someone mentions this. I don't understand why some people, especially newbies, believe that Bitcoin is a panacea that will solve worldwide issues, or that is guaranteed to make them money. Not only because it's volatile, but also because a possible mismanagement from someone who's unaware of cryptocurrencies is very possible. Thus, leading to a loss of funds in the process.

Quote from: Z-tight on October 08, 2023, 02:32:03 AM

You are not so sure of that, because you cannot tell what is going to happen in the future. When people who don't know what they are doing buy BTC, they can also expose their keys or seed phrase and lose it, or store it in an online device ad lose it, you can't tell what the state of ones coins would be in the future. Take note that there is also nothing wrong in buying whatsoever you like, and if it is an iphone, go for it, as long as you have the money to get it.

Giving financial advise is a risky thing to do, be careful with how you do that.

Advising someone that an iPhone purchase might not be worth it isn't bad, in my opinion these people care more about the status symbol that the device itself. Financial advise though should be given carefully, I generally prefer to avoid discussing cryptocurrencies and especially investments or how I'm making money. It's too risky and I don't want to be held accountable for anything that happens.

BlackHatCoiner

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I don't get the people who buy the latest iPhones. It just makes no fucking sense. You're getting a basic income, around $800 in my place, and you prefer working your ass off for 2 months straight, just to get an iPhone than getting a normal smartphone, with a thousand euros left to pay bills and stuff.

As for bitcoin, I'd absolutely suggest anyone to spend some hours and learn what it is. No one should be putting their money in stuff they don't understand, and lots experience this in cryptocurrencies who are usually victims of hacks and fraudulent schemes.

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Quote from: Kakmakr on October 08, 2023, 06:05:12 AM

The cellphone companies have found people's weakness and they are exploiting it. Everyone wants the latest model cellphone, because they want bragging rights or they want to impress other people... but nobody cares.

So, they will fork out the money for one of the most expensive phones... but they will not invest in the best Crypto currency in the world. Roll Eyes

So, next year cellphone manufacturers will come out with a new phone and people will fall for that again. Roll Eyes

In terms of business, it can be said that phone companies are achieving great success when they have found consumers' weaknesses and earned huge profits. Smartphones are one of the indispensable things in today's modern world, but it would be a waste if we kept changing it every year and had to pay ridiculous amounts of money to own a new phone. But it's confusing that millions of people are still doing it every day.

If someone stopped buying new phones for a few years and used that money to buy bitcoin, perhaps they would have a better future and even a fuller life. But not too many people see that.

eightdots

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Quote from: libert19 on October 08, 2023, 06:08:30 AM

Quote from: Bd officer on October 08, 2023, 01:16:46 AM

I've noticed a topic in the Bitcoin discussion. I was encouraged by reading the Topic, I thought if anyone would benefit financially from me. Instead of buying an iPhone, if one invests in Bitcoin, his future will be bright. Now if someone invests in Bitcoin with the same amount of money to buy an iPhone, it is expected that in 2-4 years he will be able to buy 1 iPhone with the investment profit.

I'd agree with your suggestion. If one has to chose between some pleasure (iPhones are not necessity, are they?) and investment first, it should be investment always, and pleasures should be fullfilled with profit from investment(s). Hence best of both worlds.

It is always good to invest instead of spending unnecessarily. The opposite of this situation can happen in the following way. A person may really want to buy an iPhone and buys it. Sometimes in this life we should do things that we enjoy. What you say about the iPhone may be true, but it means nothing to a person who wants an iPhone.

Investing is important for our lives, but so are our pleasures. In some cases I can choose investment and in some cases I can choose pleasure. I can't blame anyone for that. It is best to give information and leave the choice to the other person instead of interfering with their preferences.

libert19

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Quote from: Bd officer on October 08, 2023, 01:16:46 AM

I've noticed a topic in the Bitcoin discussion. I was encouraged by reading the Topic, I thought if anyone would benefit financially from me. Instead of buying an iPhone, if one invests in Bitcoin, his future will be bright. Now if someone invests in Bitcoin with the same amount of money to buy an iPhone, it is expected that in 2-4 years he will be able to buy 1 iPhone with the investment profit.

I'd agree with your suggestion. If one has to chose between some pleasure (iPhones are not necessity, are they?) and investment first, it should be investment always, and pleasures should be fullfilled with profit from investment(s). Hence best of both worlds.

Lucius

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Quote from: Bd officer on October 08, 2023, 01:16:46 AM

Instead of buying an iPhone, if one invests in Bitcoin, his future will be bright. Now if someone invests in Bitcoin with the same amount of money to buy an iPhone, it is expected that in 2-4 years he will be able to buy 1 iPhone with the investment profit. Also, Bitcoin halving in 2024, investment during this time can be very profitable.

I think that this is still too small an amount that could change someone's future, if we are talking about the fact that the cheapest version of the iPhone 15 costs from $800 to over $1000 depending on the country. If you invest $1000 in BTC today, you still won't have an iPhone, and it is questionable how much and when you will profit, not to mention the risks that arise from the fact that someone can hack you, physically steal BTC, or that you can lose access to your wallet or your backup.

Quote from: Bd officer on October 08, 2023, 01:16:46 AM

With that in mind, I suggested buying bitcoins instead of buying iPhones in my local thread. I searched among my friends to see if anyone would buy an iPhone, finally one of my close friends lives in my country's capital. Working in a good company and getting salary of $500 per month. Buying that friend's iPhone is easy.
~snip~

Your friend would have to work maybe even two months to buy that smartphone, so I don't think that investment is that simple for him. Maybe if he takes it in installments and then pays 10% of the value for the next 2 years, that would already make some sense and that's how many people actually buy many things.

Kakmakr

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The cellphone companies have found people's weakness and they are exploiting it. Everyone wants the latest model cellphone, because they want bragging rights or they want to impress other people... but nobody cares.

So, they will fork out the money for one of the most expensive phones... but they will not invest in the best Crypto currency in the world. Roll Eyes

So, next year cellphone manufacturers will come out with a new phone and people will fall for that again. Roll Eyes

Russlenat

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Great suggestion, but let's not just stop at telling them to invest. We should also stress the importance of educating themselves about Bitcoin. I mean, sure, the market seems to be gearing up for a bullish ride, but there are no guarantees in this game. What if things go the other way? What if their investment tanks and drops to 50% of its original value? Are they mature enough to understand that it's part of the game and not freak out?

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Quote from: Bd officer on October 08, 2023, 01:16:46 AM

I've noticed a topic in the Bitcoin discussion. I was encouraged by reading the Topic, I thought if anyone would benefit financially from me. Instead of buying an iPhone, if one invests in Bitcoin, his future will be bright. Now if someone invests in Bitcoin with the same amount of money to buy an iPhone, it is expected that in 2-4 years he will be able to buy 1 iPhone with the investment profit. Also, Bitcoin halving in 2024, investment during this time can be very profitable. With that in mind, I suggested buying bitcoins instead of buying iPhones in my local thread. I searched among my friends to see if anyone would buy an iPhone, finally one of my close friends lives in my country's capital. Working in a good company and getting salary of $500 per month. Buying that friend's iPhone is easy. He came to visit my house a few days ago. My friend had a $200 normal phone, one time I talked to him he said he was going to buy an iPhone 15. I can't knowingly recommend my friend to buy an iPhone. I got good knowledge about Bitcoin, I suggested my friend to invest in Bitcoin thinking about his future development. Given all the ideas about Bitcoin, my friend at one point decided to invest in Bitcoin instead of buying an iPhone. Suggested my friend to invest in Bitcoin by following DCA. My friend bought $200 worth of bitcoins for the first time. It will try to gradually increase its investment growth.

Buying an iPhone is impractical and can be considered a luxury; instead, as time goes on, the value is also reduced. All devices are like that, and in the end, they really lose their value, except for real estate, gold, and Bitcoin.

Because of the three I mentioned, it can be said that even if a day or year passes, the value increases, and we have seen and proven that because it is really true. That's why if you are an investor who likes long-term investment, just choose the three I mentioned, and the best one is Bitcoin.

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Quote from: Texac on October 08, 2023, 03:43:33 AM

OP, so do I need to sell my computer and phone to invest in bitcoin when you think buying a phone is a waste? furthermore, what is your goal of investing in bitcoin, do you want a better life or are you just trying to stop using it all to invest in bitcoin? I believe that most people who buy iphones are people with good income and they also have profitable investments and huge savings. only some braggart young people would sacrifice important things in exchange for a new iPhone.

One more thing, you can know if there are any devices that increase in value the more you use them, computers, phones, washing machines, refrigerators, air conditioners...they are all serving us every day and I won't call them devalued but we are paying every day for them to serve us.

Most likely, the author is talking about people who are not rich, but they want to buy a new iPhone, which in itself is not a very good idea. I know people who bought an iPhone and got into debt because of it or took out loans and then pay for it. The iPhone does not bring them money and is not a necessary thing like a computer, air conditioner or washing machine, it is just an expensive toy. The author mentioned a salary of 500 dollars or something, with such a salary in my opinion it is not very reasonable to buy an iPhone

Topic: Advice to friend for financial improvement. - page 6. (Read 978 times)