Topic: Bitcoin Vs Gold, land which better? - page 2. (Read 1223 times)

I also don't think we should depend on money from parents to invest in Bitcoin. We who work here I think all parents are not educated so they don't know anything about Bitcoin. So explaining them about Bitcoin seems like a waste of time to me. It will be better for us if we invest bitcoin with our own earned money instead of convincing our parents. We will invest in Bitcoin as much as we can with our own hard earned money.

But if we want to invest in Bitcoin with our own earned money then we must have an income source. Income source means we need to engage ourselves in any job or business so that we can invest bitcoins with the money we earn from it.

But I think we should not invest all the money we earn from our income source in Bitcoin because we have to support our family expenses and from there. If we invest all the money we earn from our income source in bitcoins then when we need the money we have to sell the investment and then supply the money. This will make our bitcoin investment worthless.

@Minor Miner Like you I also invested in bitcoins with my personal earned money and helped my dad and mom ones with those earned bitcoins because of which they are now very proud of me. They might not have been too happy if I had invested money from my parents instead of investing in Bitcoin with my own hard earned money.

Yes, if the OP can properly explain what Bitcoin is to his parents, surely his parents will understand and be interested in investing in Bitcoin.

My parents didn't believe in Bitcoin they thought it was a gamble and at first they stopped me from investing in Bitcoin. But I gave my parents good idea about bitcoin and at some point my parents understood. Now my parents don't compare bitcoin to gambling. Actually most parents in our country are not educated so they don't understand Bitcoin easily.

It is true that people who are not yet aware of Bitcoin and Cryptocurrency and have no knowledge about it will never venture to invest here rather they prefer to invest over gold. We are the current generation they are all successful in making money in Bitcoin and they are all educated but the older generation is not so educated and they don't have much idea about it. Older generations mostly believe that currencies can be scammed anytime and are not trustworthy but we know that Bitcoin is the only version of currency that has gained worldwide popularity and it is a currency to be trusted. But if you invest in physical asset gold, it may take more time to get profit but it is not risky, but you should know that investing in Bitcoin can make you lose money because there is volatility in the market. There is no harm in investing in gold but it is also profitable but old people don't like to invest in bitcoin they only believe in hearsay, but we always believe in bitcoin, and think to get a lot of profit by investing here.

Why does it take time to convince your parents to invest in bitcoin? Why don't we make our own money and invest in bitcoin and prove to them that investing in bitcoin will bring huge profits?
I agree with parents when they do not agree to invest in bitcoin: Firstly, they are not familiar with it and they also have the right to choose, we should respect them. Second, if you don't have the ability to make money and still rely on their allowance, there's no reason for them to believe what someone who doesn't have the ability to make money teaches them about how to get rich.

Personally, I am investing with my own money and I will give part of my profits to my parents. I want them to understand that my choice is not wrong.

It would depend on what you are looking for or aiming on your investment.
Bitcoin or crypto is good for those who could trade they could earn more compared to investing in Gold and land.
But if you want to at least wear what you are investing in then gold would be the best for you fashion and investment at the same time.
But when it comes to securing your future the best would be land, buy some property and build a house on it, if you already have one for yourself or your family then use it to fain passive income by letting people rent it.

Well, All the 3 are best in terms of investment.

But I know if any newbie wants to start investing in any of the said 3 things.

I would recommend Land first and then gold.

As the BTC is unpredictable

Maybe your parents have no experience with cryptocurrencies so they want to hold their money in physical assets instead of bitcoins. The older generation is not as educated as compared to our new generation which is why they don't believe in virtual currencies they think they are all scams. You can convince your parents that if you spend the same amount of money in physical assets, you will get more profit in bitcoins than in physical assets. Maybe they'll be tempted and tell you to invest in bitcoins.

You have a point in what you said. Most parents really don't understand Bitcoin yet, and for sure, they will prioritize investing in gold and real estate over Bitcoin, to be honest. There are only a few parents who prioritize Bitcoin, and these are the parents who have knowledge of blockchain technology.

Although all of those are good investments in real life, it's just that gold and real estate are not cheap, unlike bitcoin, no matter how much you can have it as long as it's at least 10 dollars or more.

in fact, two options are good. Now it is possible to buy gold in a digital equivalent, I know at least 2 such tokens that are backed by real physical gold, which is not bad, and one of them can be exchanged for physical gold, while bitcoin is easily converted into almost any currency there are a lot of markets in the world and it is not difficult to do this with minimal knowledge.
The older generation is accustomed to standard services such as banks and various funds and they are more skeptical about innovations such as cryptocurrency. Only interested people can master this technology, not just interested will pass by.

The only thing you can convince your parents to invest in Bitcoin is you should educate them, if you have enough knowledge about Bitcoin then you should teach them, you should explain to them what is Bitcoin and Also share them the experience of other investors in Bitcoin but not just achievements you should tell them that it is risky to invest in Bitcoin because of volatility but in the long-term one thing for sure you will get an profits if you stay focused and chill.

I think one of the method you can adopt to convince him is explaining the practical aspect and benefits of investing in Bitcoin, one of the ways is physically showing him your own Bitcoin in your wallet and how it price had been increasing during bull run as well as exchanging few of your Bitcoin to fiat in his presence thus to let him know that virtual currency is also a real currency with that you would be able to convince him that investing in Bitcoin is not a ponzi scheme and not a scam and encouraging him to start with small investment first by creating a wallet and sending the coin into his new wallet just to have feel of real live investment in Bitcoin and I believe with time he would change his perception about Bitcoin.

Well, in terms of investment, Bitcoin does have the potential for profits that are much greater than gold. However, if you can make those profits, people might think that bitcoin is better than gold. However, there are still many people out there who still choose gold over bitcoin. That's because they don't want to take a big risk, and may want to invest in something that has physicality. Many people think out there that bitcoin is not worth it because it has no physical value, and maybe the price will fall. That's why they choose gold over bitcoin. Because of this, I feel that both investments are good things depending on who uses them.

Exactly! We can't encourage our parents to invest in something especially if they have no idea about it. We can even more confident to encourage them if they can see the progress of investing in bitcoin to ourselves. You're right, it's best to do it before we share it with other people so they don't doubt us and if they have questions we can defend ourselves. We need to show our parents that they can trust us when it comes to money and investment. We're going to show them that it's better as well to have an invest in crypto than just to have our money piled up in the bank.

This is what I want to say to OP, why don't we work hard and save to invest in bitcoin, and prove to our parents and those around us that investing in bitcoin is beneficial?
It's funny, why do so many people think of asking others to invest in bitcoin while they know nothing about bitcoin? Put yourself in their shoes, if we knew nothing about bitcoin and were encouraged by others to invest, would we follow what they said? We certainly wouldn't agree, so instead of telling our parents to invest money in bitcoin, we should invest it ourselves. And if we don't have the ability to make money, don't try to teach others to get rich.

Why not just save from your allowance and then invest it on Bitcoin. The only way to convince them is to show them that you can really make a profit in Bitcoin rather than depositing it in a bank, saving money won't make you rich but investing it will.

However, don't forget to do some research first before buying, for you to be able to buy at a very good price, don't just randomly buy out of nowhere because you wanted to.

Most people will only consider an asset if they can see, touch or even hear than asset, otherwise it would be a little bit hard to convince them something like cryptocurrency. Though, there are now a growing number of people who are looking at Bitcoin as a legitimate one and can be worth investing with. With the recent approval of ETF, Bitcoin is now in a new era past the "questioning" stage and is now entering the mainstream financial sector. People who are updated with the news are already aware that Bitcoin is here to stay and will be there into the future...so getting as much as we can in today's rate can be working many wonders in the next many years. The problem is really convincing our family to the value of something they don't consider as a real asset...so understand them and slowly educate them on many aspects and reasons why Bitcoin is worth it all.

For those oldies then expect that they would really be having those kind of beliefs that they do have in mind on which they would really be sticking into something which is known and been trusted up by years or something that traditional on which it would be normal that they would that they would really be that prefering on things on which they have already been able to encounter with and not into those things on which they dont have been able to deal with on which it would really be just that normal that there would really be those kind of assumptions that it would be a scam or other things
on which our parents would really be able.

We do know that Bitcoin has been called to be a digital Gold, yet we could also have that physical ones. If you do have that sufficient money or funds
for you to make choose with then it would really be your whethere you do get both or not. It would really be just that
basing up into someones beliefs when it comes into this matter.

It is not essential to convince them to accept their point of view resulting from their lack of knowledge and belief in Bitcoin and virtual assets. Their responses are natural since many older adults believe in only tangible and visible things, which they think are the most profitable. They need a lot of time to get to know Bitcoin, understand its investment well, and learn how much profit Bitcoin can achieve and how much it has achieved since previous years. Therefore, since you are involved in the field of crypto and are aware and believe in the future of Bitcoin, you can rely on your personal decision to invest part of the amount that your father sends to the family in Bitcoin, as it is the best of all these investments from my point of view. The person must invest in the field where he has experience and knowledge of all the risks it carries, as each person has his own decision and vision.

Most parents are like that because they know bitcoin has no real physical assets so they don't believe it, they only want to be seen from physical goods such as gold etc. but indirectly they don't understand what bitcoin is so when you talk to them they will not agree.

Worthy of my own parents even though he has money from savings but he is reluctant to invest in bitcoin because he thinks it is not in line with his thinking, then I will not force parents to invest because it is the right of him who has money of course they have different perceptions.

You don't rely on money from parents to invest in bitcoin, but your own money will be better even though I know you want to bring prosperity.

First of all you need to understand that you could lose your investment, is your family ok with that? And I'm not talking only about bitcoin but everything. If they understand that, then the first step is done. And regarding the types of investments you're mentioning: bitcoin of course is the riskier one but at the same time is the one with higher probabilities of a great return; gold I feel like is for people who already have a lot of money and want to diversify, also because you won't make a lot of money investing few thousand dollars in gold; I would avoid bank deposits because they are the ones making money thanks to you. Interesting option is land, but know must know your local market.