Investing in Bitcoin or any other asset should be at the sole discretion of each person. Information and knowledge play an important role in the decision-making process, but the final decision should rest with the individual.
Providing information and education is very important to help people better understand Bitcoin and blockchain. However, it is important that each person has the ability to do their own research and make decisions based on the information already available.
Topic: BITCOIN: Give people time! - page 7. (Read 1097 times)
So, four days ago this very uncle of mine called me saying that he's now interested in investing some money into bitcoin. And I was like what happened! I thought you rejected the idea when I introduced it to you months ago.
Guess what he said, "well I did thought about it recently, and did a few research and decided I should give it a trial like you advised I should".
Now this how the whole gist originally emanated. I had this long section talk with him about bitcoin more than 8months back of which he rejected the idea of investing with whatever amount he could use as a clinical trial of the digital currency for like 6months or 1year to see for himself the benefits of bitcoin but he refused and afterwards I never brought up the discussion again to him. But to my greatest surprise he called me on phone to come to his house, on getting there he shared to me about his interest to invest in bitcoin with the sum of #4.8million of our local currency, an amount that is worth around $6k based on current exchange rate.
Although it's not the story that intrigue me to share this info to the community but it's mainly the lessons I learnt from it that did, which I'll believe a lot of bitcoiners needs to know even as they talk to people about bitcoin. Which are:-
1. Give people time; they will show interest when the time is right for them. Their timing may not be same with yours, if you've done your own job of talking to them about it, then that's fine.
2. The amount of energy and time you expend preaching to someone about bitcoin is not a warranty that he will accept what you're offering. Maybe not immediately!
3. We should always tell people to go do their own research about bitcoin after giving them some preaching about it. Doing their own research from with what they get online can strengthen their conviction about what they've have been told.
What do you think about this?
I agree with you when you say that some people need time, we are all different and everybody needs a different amount of time to take some decisions. I'm actually surprised that your uncle at the end decided to invest because 8 months is a lot of time, many people at that point wouldn't even remember conversations they had so many months ago. Anyway, again, kudos to him for doing his research instead of just shutting you down with caring at all. Guess what he said, "well I did thought about it recently, and did a few research and decided I should give it a trial like you advised I should".
Now this how the whole gist originally emanated. I had this long section talk with him about bitcoin more than 8months back of which he rejected the idea of investing with whatever amount he could use as a clinical trial of the digital currency for like 6months or 1year to see for himself the benefits of bitcoin but he refused and afterwards I never brought up the discussion again to him. But to my greatest surprise he called me on phone to come to his house, on getting there he shared to me about his interest to invest in bitcoin with the sum of #4.8million of our local currency, an amount that is worth around $6k based on current exchange rate.
Although it's not the story that intrigue me to share this info to the community but it's mainly the lessons I learnt from it that did, which I'll believe a lot of bitcoiners needs to know even as they talk to people about bitcoin. Which are:-
1. Give people time; they will show interest when the time is right for them. Their timing may not be same with yours, if you've done your own job of talking to them about it, then that's fine.
2. The amount of energy and time you expend preaching to someone about bitcoin is not a warranty that he will accept what you're offering. Maybe not immediately!
3. We should always tell people to go do their own research about bitcoin after giving them some preaching about it. Doing their own research from with what they get online can strengthen their conviction about what they've have been told.
What do you think about this?
Bitcoin is freedom, no one force you to buy it.
Other asset that used to be an investment also like this, but the difference Bitcoin is decentralized while the other are centralized or less decentralized, can't be verified too.
There's no benefit you can get after you successfully convince someone to invest in Bitcoin, it's not automatically make Bitcoin price increase to $50K.
Other asset that used to be an investment also like this, but the difference Bitcoin is decentralized while the other are centralized or less decentralized, can't be verified too.
There's no benefit you can get after you successfully convince someone to invest in Bitcoin, it's not automatically make Bitcoin price increase to $50K.
1. Give people time; they will show interest when the time is right for them. Their timing may not be same with yours, if you've done your own job of talking to them about it, then that's fine.
2. The amount of energy and time you expend preaching to someone about bitcoin is not a warranty that he will accept what you're offering. Maybe not immediately!
3. We should always tell people to go do their own research about bitcoin after giving them some preaching about it. Doing their own research from with what they get online can strengthen their conviction about what they've have been told.
I agree with some of the points you convey, maybe some people who still don't accept that their sermons to others about Bitcoin experience rejection, they should see your explanation.2. The amount of energy and time you expend preaching to someone about bitcoin is not a warranty that he will accept what you're offering. Maybe not immediately!
3. We should always tell people to go do their own research about bitcoin after giving them some preaching about it. Doing their own research from with what they get online can strengthen their conviction about what they've have been told.
That's right, everyone has their own thoughts and beliefs and it's true that everyone needs a different time of acceptance before they finally make a decision. So we shouldn't have to force someone or chase someone to immediately understand our explanation or even force them to know Bitcoin.
No matter how good our way of explaining or how much detail we try to explain to someone about Bitcoin does not guarantee that someone will immediately accept what we say about Bitcoin, because they have to go through several processes of accepting and rejecting the information they get in themselves first and they must consider it according to their conditions.
Because i think to understand and trust Bitcoin is not easy and not difficult either but it must be with confidence and a decision from themselves.
1. Give people time; they will show interest when the time is right for them. Their timing may not be same with yours, if you've done your own job of talking to them about it, then that's fine.
2. The amount of energy and time you expend preaching to someone about bitcoin is not a warranty that he will accept what you're offering. Maybe not immediately!
3. We should always tell people to go do their own research about bitcoin after giving them some preaching about it. Doing their own research from with what they get online can strengthen their conviction about what they've have been told.
Well let em cook like they said. I don't care if my whole bloodline would resent Bitcoin even if I explained them pretty much every "non-earning" benefit that they can get from Bitcoin. I don't really like telling people that they can earn from a single stuff since it might end up my responsibility regarding their losses and I am even bad at selling stuff to people since I am just that technical guy that you know next door, lol. 2. The amount of energy and time you expend preaching to someone about bitcoin is not a warranty that he will accept what you're offering. Maybe not immediately!
3. We should always tell people to go do their own research about bitcoin after giving them some preaching about it. Doing their own research from with what they get online can strengthen their conviction about what they've have been told.
Going back to the topic, even if you "give people time", they might just end up still hating it since....they just really hate the idea and aren't comfortable about decentralization. Nobody's at fault in this. Not everyone would really love Bitcoin let's accept that.
But would they care about bitcoin if you didn't talk about its profitability? like many of us, the majority search for bitcoin primarily for profit, only a few are interested in bitcoin being a decentralized or never censored currency. I don't see anything wrong with recommending bitcoin as an investment to people because that's what people are looking for. as long as we are responsible for explaining the risks they may face and letting them decide things, we should not push or force them. it's never our fault no matter what happens because it is their choice and decision.
Some people would look at Bitcoin differently. It's the same way as banks giving your funds a tiny percentage of interest whenever you hold your money within them although this might be too stretched of an example, you'll still get the idea that not all people are here just for the investment. Guess what he said, "well I did thought about it recently, and did a few research and decided I should give it a trial like you advised I should".
Some people have different mindsets on what bitcoin is really all about, so they believe bitcoin is a scam, if you invest in it, you might end up being scammed, so they automatically dislike bitcoin. But if they see someone that can really explain what bitcoin is all about to them, they might not believe immediately, but some of them might end up going on a dip research to know what bitcoin is really all about, and when they discover the truth, they will want to invest in bitcoin. That’s why, after introducing someone to bitcoin, give the person time, don’t rush them because if you do that, they might end up thinking you want to scam them.
1. Give people time; they will show interest when the time is right for them. Their timing may not be same with yours, if you've done your own job of talking to them about it, then that's fine.
You don’t have to rush anyone you are introducing to bitcoin, you can’t just expect them to invest in something they really have no idea about, it’s better you give them time. If you rush them to invest, they might have a different mindset, some might even think you are a scammer. That’s why you don’t have to rush anyone to invest in bitcoin, just do your part by telling them what bitcoin is really all about and leave them to make their own decision. 
on getting there he shared to me about his interest to invest in bitcoin with the sum of #4.8million of our local currency, an amount that is worth around $6k based on current exchange rate.
I don't know what the financial status of this person is, but hope they are not investing more than they can afford to lose in a currency that they do not know anything about. I know you have not 'forced' this person into doing this, but if anything goes wrong, take note that some of the blame will be on you because you talked about BTC as an investment.To avoid something like this, don't tell people about investing in BTC, instead talk to them about BTC being a censorship resistant, permissionless and decentralized currency, one they can use and never be censored or their funds frozen, if you introduce people in this way, they will want to learn more, and they will find out about BTC's limited supply and possibility of revenue, so if they decide to also use it for that purpose, the decision will be all theirs. Why it is better to take this approach is that if the person decides to invest, they must have learnt about wallets, addresses, open and closed source, centralized and decentralized exchanges, etc, so it becomes harder for them to lose their funds.
But would they care about bitcoin if you didn't talk about its profitability? like many of us, the majority search for bitcoin primarily for profit, only a few are interested in bitcoin being a decentralized or never censored currency. I don't see anything wrong with recommending bitcoin as an investment to people because that's what people are looking for. as long as we are responsible for explaining the risks they may face and letting them decide things, we should not push or force them. it's never our fault no matter what happens because it is their choice and decision.
1. Give people time; they will show interest when the time is right for them. Their timing may not be same with yours, if you've done your own job of talking to them about it, then that's fine.
2. The amount of energy and time you expend preaching to someone about bitcoin is not a warranty that he will accept what you're offering. Maybe not immediately!
3. We should always tell people to go do their own research about bitcoin after giving them some preaching about it. Doing their own research from with what they get online can strengthen their conviction about what they've have been told.
What do you think about this?
I'd give it a 3 Yeses!
And I always thought giving these people a time to decide is necessary, otherwise they'll gonna end up either lose some money or totally disappointed with an unexpected result. I also thought that when you're trying to tell someone about bitcoin and they immediately got interested because of the possibility of profiting good amount of money by just holding it, I always thought it's also a risky move for them without doing any further research.
What I would do in that kind of situation is to teach them how to setup and secure their wallet and how to purchase their first bitcoin safely, and from there moving forward I'd let them do their part in doing their own research and let them study the past movements using technical and fundamental analysis.
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1. Give people time; they will show interest when the time is right for them. Their timing may not be same with yours, if you've done your own job of talking to them about it, then that's fine.
2. The amount of energy and time you expend preaching to someone about bitcoin is not a warranty that he will accept what you're offering. Maybe not immediately!
3. We should always tell people to go do their own research about bitcoin after giving them some preaching about it. Doing their own research from with what they get online can strengthen their conviction about what they've have been told.
What do you think about this?
2. The amount of energy and time you expend preaching to someone about bitcoin is not a warranty that he will accept what you're offering. Maybe not immediately!
3. We should always tell people to go do their own research about bitcoin after giving them some preaching about it. Doing their own research from with what they get online can strengthen their conviction about what they've have been told.
What do you think about this?
Yeah, you are right, OP, and I agree with you. Everybody is not the same; some people can be easily convinced, while some people, being so sceptical, don't just allow themselves to be easily moved by anything relating to what will require them to invest their money. Those kinds of people would really want to take their time and,on their own, learn very well about what they have been introduced to. They allow themselves to be convinced by themselves that what they are about to invest in is very worthwhile, and they will not even invest no matter the level of education you give them trying to convince them. In such a situation, the best thing is to just give the person time, just like in the case of your Uncle. Although some people, even after being convinced, will not show any interest in what you are telling them, they will do their own research and invest by themselves without your notice.
1. Give people time; they will show interest when the time is right for them.
It is true that people will need sometimes to finally willing to invest their time and money on Bitcoin, but then again I think Bitcoin is not for everyone so even if some people or my family never willing to invest on Bitcoin, I wouldn't worry about that.
2. The amount of energy and time you expend preaching to someone about bitcoin is not a warranty that he will accept what you're offering.
Similar to the first point, not everyone care about investment in general, moreover a new kind of investment like Bitcoin. Some people may also don't have spare money to be spent on investment.
3. We should always tell people to go do their own research about bitcoin after giving them some preaching about it.
I totally agree with this one, I knew some people who would tell me to invest in many thing, crypto, stock, .etc. They keep forcing me to put my money on those investment, and ask me to trust them, and I think those kind of people is really annoying. I don't want to be those people.
The steps your uncle has taken are not bad. To understand the Bitcoin market, he wants to give a trial by investing in Bitcoin first. If your uncle feels that it is safe to invest in Bitcoin with trial then he will definitely invest in Bitcoin. Now the question is how much knowledge does your uncle have about Bitcoin or how much money does your uncle want to invest in Bitcoin first and give it a trial. If your uncle invests only to understand the market, then there is no need to invest a lot of money first. It would be better if your uncle invests first with a certain amount and tries to understand the market because it is not right to invest a lot of money first to understand the market. Since your uncle has expressed his interest to invest, I think with a trial, your uncle will definitely invest in Bitcoin for a long time and your uncle will find Bitcoin a reliable investment platform.
2. The amount of energy and time you expend preaching to someone about bitcoin is not a warranty that he will accept what you're offering. Maybe not immediately!
For me, Teach only those who want to learn and don't encourage everyone that doesn't ask for it since Bitcoin is risky and you exposing them to risk the moment you introduce them on Bitcoin since newbie tends to experiment and involved on risky investments just to earn quickly.
It's surely a waste of energy to teach someone which you didn't know if he is interested or not. Just teach those who seek for guidance and leave those who doesn't give a fuck about Bitcoin.
on getting there he shared to me about his interest to invest in bitcoin with the sum of #4.8million of our local currency, an amount that is worth around $6k based on current exchange rate.
I don't know what the financial status of this person is, but hope they are not investing more than they can afford to lose in a currency that they do not know anything about. I know you have not 'forced' this person into doing this, but if anything goes wrong, take note that some of the blame will be on you because you talked about BTC as an investment.To avoid something like this, don't tell people about investing in BTC, instead talk to them about BTC being a censorship resistant, permissionless and decentralized currency, one they can use and never be censored or their funds frozen, if you introduce people in this way, they will want to learn more, and they will find out about BTC's limited supply and possibility of revenue, so if they decide to also use it for that purpose, the decision will be all theirs. Why it is better to take this approach is that if the person decides to invest, they must have learnt about wallets, addresses, open and closed source, centralized and decentralized exchanges, etc, so it becomes harder for them to lose their funds.
1. Give people time; they will show interest when the time is right for them.
We don't have to create a rush on anyone we are introducing bitcoin to, they may also be thinking from their own mind we are having some secret agenda over it especially when we are too desperate in seing them adopting, there's time and process for everything we do.
2. The amount of energy and time you expend preaching to someone about bitcoin is not a warranty that he will accept what you're offering.
If you're introducing bitcoin to someone, don't over stay your welcome, the more you keep talking the more they become hardened to what you're telling them if they are not interested in it, let them see and behold the evidence of adoption in you through the change they see with you after adopting bitcoin.
3. We should always tell people to go do their own research about bitcoin after giving them some preaching about it.
Most if the people that always argue blindly about bitcoin do not have an idea of what bitcoin is, at least what one should do is to make sure they research on anything they heard about which seems nee to them, they could get thousands of articles concerning it, same also for everyone already into bitcoin, we don't have to relent, it's a challenge to work harder and learn more each day with bitcoin.
To be fair though, any assets or investments, it will give people more time to think about it, just a question whether they are late or not. Just the like the dot com bubble (not sure if majority here have been in the investment or even born yet that time).
And so if you are late that time and you keep on swaying away the idea of investing that time, then you might not have make it successful in that era. But the good thing with bitcoin is that it's a continuous process, I mean every 4 years there is a cycle of investments and then selling off. So right now is still the perfect time to invest as we are in the bear market so there is no time lost.
And so if you are late that time and you keep on swaying away the idea of investing that time, then you might not have make it successful in that era. But the good thing with bitcoin is that it's a continuous process, I mean every 4 years there is a cycle of investments and then selling off. So right now is still the perfect time to invest as we are in the bear market so there is no time lost.
What made him change his mind is probably he is losing money also, it's usually the case. When the man is already in need thats the time they think of alternative and remember an investment proposal to them. The majority just want to invest in the short term.
I remember I was in my in-law's house when we talk about investment and told my father-in-law about investing in BTC. The old man was interested not only in investing but also trading. Then I replied trading skills take time to be honed so you might have to do it manually in the platform. And when I already reach the discussion about risks, the brother-in-law interrupts saying if there is no assurance to making a profit then let's not get into it.
The last thing I heard was that my brother-in-law was scammed by the BTC wallet app.
I remember I was in my in-law's house when we talk about investment and told my father-in-law about investing in BTC. The old man was interested not only in investing but also trading. Then I replied trading skills take time to be honed so you might have to do it manually in the platform. And when I already reach the discussion about risks, the brother-in-law interrupts saying if there is no assurance to making a profit then let's not get into it.
The last thing I heard was that my brother-in-law was scammed by the BTC wallet app.
If you treat Bitcoin as an investment vehicle, it won't grow as a currency. People would buy to store them rather than to see the utility behind it. If you make people adopt and actively use Bitcoin, that is how Bitcoin could get popular and achieve mainstream adoption. People are always purchasing Bitcoin when there's a hype and the potential to be rich. Truth to be told, most of them don't care about the future of Bitcoin and wants to get rich quick.
The more people that adopt this mindset, the more stagnant Bitcoin becomes. I don't think Bitcoin has much left to prove, and if they don't see it as a viable currency, then there is no reason to force them. The time is only ripe for some when they see the potential to become rich.
The more people that adopt this mindset, the more stagnant Bitcoin becomes. I don't think Bitcoin has much left to prove, and if they don't see it as a viable currency, then there is no reason to force them. The time is only ripe for some when they see the potential to become rich.
What do you think about this?
It's really important to respect other people's views and opinions on digital currencies and while the aim is to drive for mass adoption, understanding that people can differ in opinion as regards Bitcoin will help lessen the feeling of failure if he/she doesn't buy it.
I see Bitcoin to have enough potential and like the Op has said, it will only take a matter of time for people to recognize it.
As what I have shared many times. Those people who you have introduced the Bitcoin won't be interested right away but one thing you should have said to them is that you shouldn't be interested right away and must do some research first before investing or something like that. Just think of it as a way of giving them warning that will make them be very careful with everything that are introduced to them. Well, your uncle did good since he made some research first before he decided to invest. When introducing Bitcoin to them then this is what I always said to them, i wouldn't force any of you to get involved in Bitcoin but If ever you will be interested then All I can say is, DO YOUR OWN RESEARCH FIRST.
1. Give people time; they will show interest when the time is right for them. Their timing may not be same with yours, if you've done your own job of talking to them about it, then that's fine.
You can't force someone else to do what you want. What you like may not be liked by someone else. What you see as right may not be seen that way by someone else.
Time passes and opinions change. Someone who disagrees with you today may agree with you tomorrow. It will be more effective if you haven't forced the other person to accept your point of view and after time has passed, that person says something positive about what you said. Things that happen in themselves have a much greater effect.
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