Bitcoin Vs Gold, land which better? - page 6.

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Quote from: HelliumZ on October 14, 2023, 06:20:22 PM

my father and mother from my family have no knowledge of bitcoin so they keep persuading me to invest in bitcoin.

They don't understand bitcoin so they persuade you to buy it? Did I read it right?
Why? This sounds a bit crazy on their part.

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My parents thought that bitcoins that cannot be seen or touched cannot be an asset.

So they are against bitcoin, but keep telling you to buy it?
Now I'm confused even more Cheesy

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They think that investing in physical assets such as gold, bank deposits, land etc. is more profitable than Bitcoin. But even after I convinced them, they are not ready to invest in Bitcoin. They don't want to believe in virtual currency.

Safer usually means less profitable. For instance, one of the safest investments is to buy foreign currency of a country with strong economy compared to yours, but this will barely allow you to make any money.

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Quote from: Renampun on October 16, 2023, 01:05:22 PM

Quote from: HelliumZ on October 14, 2023, 06:20:22 PM

I got into Bitcoin as a college student though I am not involved in earning yet but I have a lot of interest in Bitcoin and I am planning to hold Bitcoin. My father is a Malaysian expatriate. He receives a salary of $500 per month and sends $400 per month to support my family. I collect all the money from my father's salary and spend it for family support. Recently I have made a plan to invest a certain part of my father's salary remittance in Bitcoin but in this case I don't understand whether it should be invested in Bitcoin. I paid attention to invest in bitcoin seeing the popularity and future importance of bitcoin but my father and mother from my family have no knowledge of bitcoin so they keep persuading me to invest in bitcoin.

My parents thought that bitcoins that cannot be seen or touched cannot be an asset. They think that investing in physical assets such as gold, bank deposits, land etc. is more profitable than Bitcoin. But even after I convinced them, they are not ready to invest in Bitcoin. They don't want to believe in virtual currency.

Right now I want your important advice on how to convince them.

Trust me, deciding to invest in something is not easy at all, especially when you don't know at all what you are investing in, but one thing you have to understand, you won't lose anything if you invest in Bitcoin because you can invest with money whatever in bitcoin even $1, whereas in gold and property, you need a lot of money to be able to invest there.

if we look back at the past, there were many people who invested in bitcoin at the beginning who didn't know what bitcoin was, so you need to think like them, be sure if you use the DCA concept, in the next few years, the value of your money investing in bitcoin will increase greatly.

If it is not totally your money, then why would you spend it, right mate? This is what caught my attention more. You choose as many as investment you can think of but never be too optimistic with this industry and with other field of investment.Only invest your ‘extra money’ no matter how strong your feelings and belief are.Gold has its own advantage such as global acceptance. With Bitcoin, profit is within its market price volatility, higher than with other assets.And with land investments, same with Gold; overtime its price will increase but would you be patient enough as an investor, to wait for years to generate an amount you can reinvest.

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Quote from: HelliumZ on October 14, 2023, 06:20:22 PM

I got into Bitcoin as a college student though I am not involved in earning yet but I have a lot of interest in Bitcoin and I am planning to hold Bitcoin. My father is a Malaysian expatriate. He receives a salary of $500 per month and sends $400 per month to support my family. I collect all the money from my father's salary and spend it for family support. Recently I have made a plan to invest a certain part of my father's salary remittance in Bitcoin but in this case I don't understand whether it should be invested in Bitcoin. I paid attention to invest in bitcoin seeing the popularity and future importance of bitcoin but my father and mother from my family have no knowledge of bitcoin so they keep persuading me to invest in bitcoin.

My parents thought that bitcoins that cannot be seen or touched cannot be an asset. They think that investing in physical assets such as gold, bank deposits, land etc. is more profitable than Bitcoin. But even after I convinced them, they are not ready to invest in Bitcoin. They don't want to believe in virtual currency.

Right now I want your important advice on how to convince them.

Trust me, deciding to invest in something is not easy at all, especially when you don't know at all what you are investing in, but one thing you have to understand, you won't lose anything if you invest in Bitcoin because you can invest with money whatever in bitcoin even $1, whereas in gold and property, you need a lot of money to be able to invest there.

if we look back at the past, there were many people who invested in bitcoin at the beginning who didn't know what bitcoin was, so you need to think like them, be sure if you use the DCA concept, in the next few years, the value of your money investing in bitcoin will increase greatly.

Learn Bitcoin

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Quote from: kro55 on October 16, 2023, 10:16:35 AM

His father's income is 500 USD per month and they use 400 USD for monthly needs. Furthermore, he was just a student and the whole family depended on his father's sole source of income. Do you think his family can have a fund of 10 thousand dollars?

You misunderstood it. His father earns 500 USD per month and sends 400 USD to them to support their family. Did you notice his father spending $100 per month only to live in a country like Malaysia? That does not really mean they spend all their 400 each month. The cost of living in the village side of Bangladesh increased in the last two or three years. But before that time, even $50-80 was enough for a two or three-member family to cover up the expenses. Everything was way cheaper than it is today. If you talk about today's expense, it won't exceed the $150 limit for a member's family if he lives in the village side because most of the people live in their own houses and have firm rice and necessary vegetables. I know many family who's monthly earning was around $500 a month, and they have $30K cash in their bank. If he lives in the town side (Which I guess is not), the expenses are totally different.

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Quote from: Learn Bitcoin on October 16, 2023, 09:55:51 AM

Quote from: Don Pedro Dinero on October 15, 2023, 11:29:54 PM

Putting it aside, I don't know why the OP brings land into the equation, unless it is so cheap that you can buy chunks of land for $50.

Op and I are from the same country. Since he mentioned land, you should understand his investment amount is more than ten grand. Because you cannot buy land with less than $5K in most areas of my country. No matter where the location is. But if you want to buy land in town sides, you need at least $100K to buy a little-sized land. His father lives in Malaysia and works there. Most of the people worked there for decades. So, I guess his investment fund is more than $10K. Which is why I asked him not to put more than 10% in Bitcoin. After all, it's his father's earned money. If anything goes bad, his father will blame him for rest of the life.

His father's income is 500 USD per month and they use 400 USD for monthly needs. Furthermore, he was just a student and the whole family depended on his father's sole source of income. Do you think his family can have a fund of 10 thousand dollars?

One more important thing as you mentioned, it is not the OP's money and his persuasion or decision to invest in bitcoin was a wrong move. Maybe he doesn't care about the hardships his father had to go through to get that money. If he cares about them, he won't force them or try to persuade them when they don't like it.

Inwestour

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Quote from: Learn Bitcoin on October 16, 2023, 09:55:51 AM

Op and I are from the same country. Since he mentioned land, you should understand his investment amount is more than ten grand. Because you cannot buy land with less than $5K in most areas of my country. No matter where the location is. But if you want to buy land in town sides, you need at least $100K to buy a little-sized land. His father lives in Malaysia and works there. Most of the people worked there for decades. So, I guess his investment fund is more than $10K. Which is why I asked him not to put more than 10% in Bitcoin. After all, it's his father's earned money. If anything goes bad, his father will blame him for rest of the life.

You should always invest only your own money, if you invest other people’s money, it doesn’t matter whether it’s your parents’ money or credit money, then in this case there is a liability and the consequences can be very bad. Imagine if someone loses something that does not belong to them.

Any of the areas that the OP wrote about has its advantages and disadvantages, in any of them you can earn and lose money, because, among other things, the factor of the investor, his knowledge and understanding of the matter is also very important. You can buy one of these assets too expensive, or buy in a bad place and you can forget about profit.

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Quote from: Don Pedro Dinero on October 15, 2023, 11:29:54 PM

Putting it aside, I don't know why the OP brings land into the equation, unless it is so cheap that you can buy chunks of land for $50.

Op and I are from the same country. Since he mentioned land, you should understand his investment amount is more than ten grand. Because you cannot buy land with less than $5K in most areas of my country. No matter where the location is. But if you want to buy land in town sides, you need at least $100K to buy a little-sized land. His father lives in Malaysia and works there. Most of the people worked there for decades. So, I guess his investment fund is more than $10K. Which is why I asked him not to put more than 10% in Bitcoin. After all, it's his father's earned money. If anything goes bad, his father will blame him for rest of the life.

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Quote from: HelliumZ on October 14, 2023, 06:20:22 PM

I got into Bitcoin as a college student though I am not involved in earning yet but I have a lot of interest in Bitcoin and I am planning to hold Bitcoin. My father is a Malaysian expatriate. He receives a salary of $500 per month and sends $400 per month to support my family. I collect all the money from my father's salary and spend it for family support. Recently I have made a plan to invest a certain part of my father's salary remittance in Bitcoin but in this case I don't understand whether it should be invested in Bitcoin. I paid attention to invest in bitcoin seeing the popularity and future importance of bitcoin but my father and mother from my family have no knowledge of bitcoin so they keep persuading me to invest in bitcoin.

My parents thought that bitcoins that cannot be seen or touched cannot be an asset. They think that investing in physical assets such as gold, bank deposits, land etc. is more profitable than Bitcoin. But even after I convinced them, they are not ready to invest in Bitcoin. They don't want to believe in virtual currency.

Right now I want your important advice on how to convince them.

op as you said your father is expatriate in malaysia he send money from there through you i think your mother and father don't have much idea about bitcoin. and that is normal until one is involved with bitcoin one can't understand anything common and generally that bitcoin work Doesn't make it a bit difficult to convince him about Bitcoin. So my personal opinion is that since your parents don't want to invest in Bitcoin they are asking you to buy land and buy gold now you can buy land as your father said. And if you have any money of your own then you can invest it in Bitcoin then you can explain the difference to your parents after seeing it maybe your parents can give you opinion to invest in Bitcoin.

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Quote from: Odohu on October 15, 2023, 11:09:28 PM

There is never a wrong time to invest in Bitcoin. If you have actually taken time to study where we are coming from and where we are going to, you will know the potential of Bitcoin. Bitcoin have proven to be a good investment option for those who are not eager for quick gains so it requires time just like every other investment. As for loosing money in Bitcoin, are you of the opinion that the price of Bitcoin will come to zero or crash so hard?

Wrong or right, good or bad, it is related to both entry and exit. If your investment plan is only 6 months but your entry time is 1 year or more after a bull run start, you will have big problem with your entry because the market is nearly at top and 6 months later, you will probably exit it with a loss in a bear market.

I don't argue here about 6 months are long enough to consider as a good time for investment. I would like to have a longer time but many people have that short investment time for their plans and their failed investment begins with their bad start.

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Quote from: Smack That Ace on October 15, 2023, 10:32:03 PM

Quote from: |MINER| on October 15, 2023, 12:03:05 PM

I will say that none of these three investments are bad, each has its own special worth. For example, if we talk about gold, it is acceptable almost everywhere in the world, plus the volatility in its price is low. And it has been used for ages and its prize is always going up. And the difference between Gold and Bitcoin is that it is a digital cryptocurrency which has become very popular nowadays as well as a medium to earn good profits. Although it has a side of risk and that is it is highly volatile coin, profit can be earned by investing here but you need to have enough knowledge in that case. On the other hand, I would say that buying land is also a good way to secure your funds because as far as I have seen land prices never go down. But you should think about the future and then invest here because there may be risks here because where you are buying the land is what is the natural location of these things. So the decision is your what you can effort and also what you wanna do now.

All 3 are good and potential investments but most people will choose bitcoin. The reason is simply because it is more volatile and has a higher chance of generating returns than the other two assets. Those who deliberately say that gold and real estate are not worth investing in are people who do not have the money to invest in them, they hope that their little capital combined with bitcoin can generate big profits for them. I know bitcoin has many other useful features but profit is the top reason when people compare and choose 1 out of 3.

In addition to what you have stated above, you can start investing in Bitcoin with as low as $10 and allow this to grow over time unlike gold and other assets that this amount is insignificant. The advantages of Bitcoin is numerous, not forgetting the comfort, accessibility and convenience it offers. You can practically start and monitor your investment in Bitcoin from the comfort of your home without requiring any third party.

Like you said, Bitcoin can give huge returns over a short period of time unlike other investment portfolios that takes so much time to yield profits even at a very slow rate... it has happened in the past and it can still happen again.

dothebeats

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I'm not sure if this will actually help but I suggest checking this thread (https://bitcointalksearch.org/topic/real-estate-vs-cryptocurrencies-vs-business-5462387) everyone shared their opinions regarding choosing between an investment in Bitcoin, gold, or real estate. Perhaps you can either choose to consider all the points laid out by the members (they are either for Bitcoin or against it due to a few good reasons and statements) or you can use the statements used by the members that are for Bitcoin investments to help you convince your parents regarding joining Bitcoin. I'm sure you'll find a good use for that thread as I myself learned a few things from the different points and perspectives shared by the members there.

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Quote from: NewRanger on October 15, 2023, 11:43:30 AM

OP, what @Marvell1 said is true and needed anytime, anywhere and it will be strong evidence and a powerful weapon to get nod from anyone. Regarding what you asked above, I think everyone likes the three of them and especially BTC where Bitcoin continues to grow in terms of adoption, becoming more real and stronger from day to day, even though the volatility is quite good, it will continue to decline in recent times.

OP is not the first person on this forum that I've seen who enjoys giving bitcoin investment advice to others, but has never invested in bitcoin. If I were his parents, I wouldn't believe what he said because he doesn't have any experience or achievements from investing in bitcoin. What you say is just what you hear online or hear from others, all of which will never be enough to convince anyone. Let's try to put ourselves in their situation, can we trust someone when they haven't earned money or they have a lower income than us?

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Quote from: Botnake on October 15, 2023, 04:43:23 AM

Quote from: Ayers on October 15, 2023, 03:37:34 AM

The higher the return, the higher the risk, bitcoin is very volatile so I wouldn't consider it a stable investment.

We gotta go with Bitcoin from the three options because it's the one that can potentially give us massive profits if we hold onto it for long enough. Gold and land are solid investments too, but if we're not rolling in money already, our initial capital might not be that hefty. We're looking for something that could yield a significant return.

I'm pretty sure we got this idea from those inspiring stories of investors, you know, buying Bitcoin on the cheap and then selling it for a sweet profit in a short time.

Just check out the market's track record. Last September 2020, Bitcoin was only about $5k a pop. In just over a year, the price shot up tenfold, reaching over $50k. That's a simple x10 return on investment right there.

So, considering this reality, Bitcoin seems like the no-brainer choice.

I believe this is the reason we all choose bitcoin over the other two assets. Most of us want to get big profits from our small capital and we have no better choice than bitcoin. To be honest, I also want to invest in real estate because I believe this is a safe asset and will always increase in price over time because the demand for land and housing will never stop. But the big problem is capital, I don't have too much capital to do that and bitcoin is my choice. And if I were to make significant profits from bitcoin, I would still diversify my portfolio with real estate.

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Quote from: dothebeats on October 15, 2023, 10:44:17 PM

Quote from: bbigtart on October 15, 2023, 09:40:50 AM

Quote from: HelliumZ on October 14, 2023, 06:20:22 PM

Right now I want your important advice on how to convince them.

The wisest thing for you to do is teach them about bitcoin, because it is very natural that they are afraid to invest in bitcoin because they previously did not believe in bitcoin as a long-term investment.

The average parent in any part of the world is like that, they prefer to invest in what can be seen with the naked eye, such as land and gold. So, your job is only to educate parents first, then leave it to them to make their choice. Actually, your parents and your dreams both have good goals, it's just that the lack of education for your parents makes them doubtful about Bitcoin.

I agree with you, however instead of being too upfront about it OP can do it little by little. Dumping all the information there is to know can be overwhelming for parents and that might even cause another conflict for them to be open to Bitcoin investment. Instead, OP can start with sharing bits of information about it and make their parents curios at first and soon enough the parents will be the one to even start a conversation regarding it.

I don't think your method will work because I tried it with my parents. in short, I see that people of the older generation like our parents still prefer safety over taking a little risk to gain high profits. I am investing in bitcoin with my own money and have achieved results which they also see, they support what I do because it gives me good results. but they still choose to buy gold and deposit money in the bank because it is the money they have worked hard to earn, and if they encounter risks, how will they make that money back when they get old? don't force our parents to invest in bitcoin or anything, let them choose and have a life they are satisfied with. if we want good things for them, why don't we use our money for them? Do we reckon with them?

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It's true that convincing parents to invest is very difficult, they prioritize physical investments over non-physical ones, gold and land are better in the long term than bank deposits, bank deposits don't make father's money richer. it actually reduces your family's money because there are deductions from banks and taxes from your country's government.

You should try investing in Bitcoin yourself with the money you have received so far from your parents, accumulate it from now on using the DCA technique until the halving arrives, if you make a profit then you tell your parents, your parents need proof. If you have a lot of bitcoins from your accumulation so far, you don't need to be afraid of who will steal them, you just need to save or secure the secret key so that no one else finds out. Bitcoin supply is limited, many rich people there like Robert Kiyosaki, Michael Saylor, and Elon collect bitcoins. Learn from those who understand the investment system in bitcoin.

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Quote from: bittraffic on October 15, 2023, 11:40:27 PM

Quote from: Don Pedro Dinero on October 15, 2023, 11:29:54 PM

Quote from: mk4 on October 14, 2023, 09:27:22 PM

In my opinion, investing money that isn't mine into something too speculative is a huge no-no. Why not just use your own money instead? That way, you don't receive any crap if ever the investment goes bad. They already aren't convinced in the first place, so why force them?

This would be the key point I think.

Putting it aside, I don't know why the OP brings land into the equation, unless it is so cheap that you can buy chunks of land for $50. The normal is that you will have to save several months at least until you can buy something, whereas gold and bitcoin you can buy small amounts. The downside of gold is the premium he will pay both buying and selling and if he does DCA bitcoin he should think about buying a HW.

The rich men are actually buying lands particularly the country side properties since its the last that will be affected when there is uncertainty like ww3. Some of them are buying lands or islands in Hawaii or so.

Sometimes the rich men are even buying yatch although we know this is going to be a liability in the long run but it make sense during war for they could just travel on their own with it to safety with their family.

When a person buys more land, he may face questions about his income in various ways. From where he got the money to buy his land or what is his source of income, how much money he can earn from it. Various types of problems may arise when the law is enacted. A similar situation may occur with gold. But if someone can keep bitcoins in his personal safe wallet then he can use that money anywhere no matter how big it is. If he survives a world war or whatever, his wealth will remain intact. I think Bitcoin is the best investment in terms of high asset value and for safety in the future.

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Quote from: Don Pedro Dinero on October 15, 2023, 11:29:54 PM

Quote from: mk4 on October 14, 2023, 09:27:22 PM

In my opinion, investing money that isn't mine into something too speculative is a huge no-no. Why not just use your own money instead? That way, you don't receive any crap if ever the investment goes bad. They already aren't convinced in the first place, so why force them?

This would be the key point I think.

Putting it aside, I don't know why the OP brings land into the equation, unless it is so cheap that you can buy chunks of land for $50. The normal is that you will have to save several months at least until you can buy something, whereas gold and bitcoin you can buy small amounts. The downside of gold is the premium he will pay both buying and selling and if he does DCA bitcoin he should think about buying a HW.

The rich men are actually buying lands particularly the country side properties since its the last that will be affected when there is uncertainty like ww3. Some of them are buying lands or islands in Hawaii or so.

Sometimes the rich men are even buying yatch although we know this is going to be a liability in the long run but it make sense during war for they could just travel on their own with it to safety with their family.

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Quote from: mk4 on October 14, 2023, 09:27:22 PM

In my opinion, investing money that isn't mine into something too speculative is a huge no-no. Why not just use your own money instead? That way, you don't receive any crap if ever the investment goes bad. They already aren't convinced in the first place, so why force them?

This would be the key point I think.

Putting it aside, I don't know why the OP brings land into the equation, unless it is so cheap that you can buy chunks of land for $50. The normal is that you will have to save several months at least until you can buy something, whereas gold and bitcoin you can buy small amounts. The downside of gold is the premium he will pay both buying and selling and if he does DCA bitcoin he should think about buying a HW.

Odohu

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Quote from: Honyek on October 15, 2023, 12:10:59 PM

Investing in bitcoin is good, but not at all time. You have to know exactly when you are making the investment, and the situation of things, to avoid loosing part or all your investment. If it is convincing someone of the positive investment in bitcoin, that is not a guarantee, as anything can happen. For me, anything investment has to be on the basis of personal decision of the person concerned to avoid blame or bad outcome.

There is never a wrong time to invest in Bitcoin. If you have actually taken time to study where we are coming from and where we are going to, you will know the potential of Bitcoin. Bitcoin have proven to be a good investment option for those who are not eager for quick gains so it requires time just like every other investment. As for loosing money in Bitcoin, are you of the opinion that the price of Bitcoin will come to zero or crash so hard?

I will recommend you learn various techniques of Bitcoin accumulation while developing a long term perspective. That is the way to making the most of Bitcoin. One notable way is the DCA method which you can learn through these links:

https://dcabtc.com/?sd=2021-07-01&sda=custom&f=weekly&d=3_years&ac=10000&c=true
https://bitcointalksearch.org/topic/my-past-nine-months-bitcoin-journey-5349270
https://bitcointalksearch.org/topic/m.62762953

dothebeats

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Quote from: bbigtart on October 15, 2023, 09:40:50 AM

Quote from: HelliumZ on October 14, 2023, 06:20:22 PM

Right now I want your important advice on how to convince them.

The wisest thing for you to do is teach them about bitcoin, because it is very natural that they are afraid to invest in bitcoin because they previously did not believe in bitcoin as a long-term investment.

The average parent in any part of the world is like that, they prefer to invest in what can be seen with the naked eye, such as land and gold. So, your job is only to educate parents first, then leave it to them to make their choice. Actually, your parents and your dreams both have good goals, it's just that the lack of education for your parents makes them doubtful about Bitcoin.

I agree with you, however instead of being too upfront about it OP can do it little by little. Dumping all the information there is to know can be overwhelming for parents and that might even cause another conflict for them to be open to Bitcoin investment. Instead, OP can start with sharing bits of information about it and make their parents curios at first and soon enough the parents will be the one to even start a conversation regarding it.

Topic: Bitcoin Vs Gold, land which better? - page 6. (Read 1246 times)