Topic: Digital Bitcoin Classes Ongoing. - page 2. (Read 438 times)

I agree with your advice. "Give a man a fish and you feed him for a day. Teach him how to fish and you feed him for a lifetime" is a similar advice.

If they want to invest in Bitcoin or just want to have experience with Bitcoin blockchain, they must do things by themselves: buying, storing, recovery, selling. It is important for them to learn and practice with their money.

Another big reason to don't do this, is if they don't experience steps by themselves, they will blame everything on you if you make mistake. By experiencing it, they will know about risk, loss like small or big, and knowing that it's risky in every step, and they can sympathize mistakes of others.

It's their money, and you should never do anything with their money on behalf of them.

I see that you are doing this in good intentions. But instead of buying Bitcoin on their behalf, I would show them which exchange they can use to buy coins and which wallet they should store them in. If they are serious about investing in Bitcoin then they can do these two things easily. Then you can continue classes with them. If they can't even do these two simple things, don't waste any more time with them.

Okay let me explain it in detail. As the second image I have uploaded clearly shows that, I thought the guy everything he wanted to know about bitcoin investment. Asked him to download both self-Custodial Wallet and exchange or face to face to buy bitcoin and after everything, he just abandoned everything and do business. So I have to change methods. It is only those who are in the teaching field understand what I am saying and not those who are only telling people to invest in bitcoin. Let me tell you again, in teaching there are many approaches and the one that the students understand is the best to continue. So if this method is not good enough I will still change it. Telling them to invest has nothing to do with the teaching but to encourage them to invest and be serious about the investment. And as it is, I have more than 30 students that are serious and investing in bitcoin through my help and teaching. When a student does well, I am happy as well. I don't force anyone to invest. If I tell someone to invest and he didn't, I leave until he is ready. But if they asked me any questions on cryptocurrency I still answer them. There is different between telling someone something and teaching them. Guy you are not in my shoe so you won't understand. When they see bitcoin in their wallets and you teach them from there, they will understand it even the more. Even in the investment process I show them everything.

We won't see the full picture anyway - but as I saw from the threads @Agbe mentioned, he is a reputable member of the space and can be trusted. I do hope everybody involved in the courses would get the most out of them and be ready to face the market with more knowledge under their belt.

The image doesn't say much to me; I'm not claiming to be an expert; quite the opposite, my knowledge is quite limited on the technicalities of Bitcoin. As @Darker45 already mentioned, you're telling them to invest in something they have zero knowledge in. Teaching them about Bitcoin is unimportant at this point, as you're basically not teaching them what it is but showing them how to set up their wallet; they don't know why they need a wallet, what it is, or how it works. Most importantly, they don't actually know what cryptocurrencies are. You can't start telling them about Bitcoin when they hardly know what cryptocurrencies are, let alone telling them to buy.

Bitcoin isn't for everyone, and so are investments, trying to persuade yourself and others of the opposite isn't going to end well.

DCA + a stable income + responsibility and knowledge  => great time on the market  I do agree with your points.
In any case, your cause is noble, OP.

Many believed that, when they invest in bitcoin their money is lost like ponzi scheme, so I used to tell them their funds are not lost to the air, it is in the wallet and whenever they need it they can get. and if they want to get it when the market is on low price, it is for their own risk. and I explain all that to them. please read the op well, you will understand more.

I would never advice a new in crypto to invest first before knowing anything about crypto and bitcoin and full risks involved. when you first said about investment. I thaught you are talking about your charges of teaching them about bitcoin. but then i realized it is about investing in crypto.
No matter how much you clarify them and tell them the risks factors. they gonna come back to you and hold you questionable anytime they lose their money. so I suggest you to first properly educate them about crypto. then let them decide by themselves if they want to invest or not.

Your intention is very good and it is appreciated, but I would prefer to just teach without forcing or asking them to invest either directly or by entrusting their money to me to buy coins. Teaching them but if they don't start investing is not a failure because everyone has a different perception, but you should still teach them without asking them to invest so that when they invest the results are from their own intentions and also because they understand the risks so that when they lose they don't blame anyone.

I might not agree with your approach.

You're practically asking them to invest in something they know nothing about. I'm afraid that's one of the top Don'ts in investment 101. Your method forces them to invest first, learn later. What if they aren't convinced after your sessions? What if they don't like Bitcoin as an investment after your sessions are over?

Secondly, some of them are unemployed and you're teaching them investment, long-term investment at that? That seems misplaced. They can't even afford mobile data.

The reality is that Bitcoin isn't for everybody. Investment, in the conventional sense, isn't for everybody. Those who can barely eat 3 times a day should avoid investing in Bitcoin. Those who can't provide a decent shelter for the family, education for the kids, comfortable clothing, and so on have no business putting money in Bitcoin.

Bitcoin investment should come from surplus. It's money one can afford to lose.

Bitcoin investments never works successfully with unemployed users because at some point in time, they may need you to withdraw them back their money for their upkeep. Civil servants are pretty much good for your journey in as much as they keeps on receiving monthly income to consistently purchase Bitcoin at certain percentage of their income.

Investing in Bitcoin works more better if investors get other means and streams of income so they wouldn't mind if the value of their assets is depreciating, every dip gives them the opportunity to even buy more but the unemployed can't meet up.

It's a laudable enterprise you have ventured in enlightening people of your community about bitcoin, particularly the young people but where am concerned about your decision of having to do the investment for them using their own money they give to you.

Why not allow them do that themselves, somehow they could learn better as it's said practice makes perfect. Let them practice what they have learnt it will help them gain a better experience. But before then it will be great you encourage them to do their own research addition to what you have taught them that they may very well understand the risk involved with the market volatility.

Lastly, in the image you shown, somewhere in your chat, you told your student that they can get back their money anytime they want it back. I think that's not the right way to put it, because what if they need the money when the market is in a dip after buying. What do you think may happen?

please you can read from the image below. I am not an expert of bitcoin like you guys but trying my best. you can reread my OP, for more understanding. I said i will pm some experts for more knowledge.

I like your opinion, knowing fully well that cryptocurrency are risky due to their volatile nature, i will also not try to persuade anyone to buy any coins even if it is bitcoin. The only thing i can do is to educate them on the good, the bad and the ugly side of investing on cryptocurrency then it's left for them to decide whether to buy and invest after which i will also guide them on how to open their own wallet and how they can purchase coins because if you do everything for them like opening the wallet for them, if they become careless and expose their seed phrases to scammers and they wipe their coins you will be the first suspect since you were the one that open the wallet for them.

I agree. I don't know how knowledgeable the OP is to be teaching Bitcoin classes, I'm not going to judge that (yet) and I'm going to stick to how he's operating. If I were you, I'd explain the principles of Bitcoin, how to download a wallet and set it up, how exchanges work and how you can set up your account, with a step by step process on how to buy and how they work in general.

You, buying them Bitcoin and simply telling them to be patient isn't going to cut it, you'll be flooded with messages the moment a price correction occurs, because from what you've posted at least, they have extremely limited knowledge and they're going to panic. I don't know, but this method of approach is similar to how people in ponzi's and pyramids approach you.

Not a bad idea, it’s one that could have positive effects in your area to go by that. Commitment is one way to get people’s attention towards a course. When there money is invested in it, they tend to follow the teachings as, they have what they stand to lose if they don’t.
Let’s hope they could manage and hold because, that’s where you’ll find the hassle. Everyone would be in it for the gains and have their hearts beat with the charts. You would need a way to discourage them from keeping tabs on the charts and an understanding that they shouldn’t be expecting a 100% increase.

That was what I was doing but 98% would take my effort for grounded. I will up load an image for you to see how someone guys play with my intelligence. Check the image below.


It is good to say it and I was also on that part until I encountered them on the public and since I want people to know and invest in bitcoin and I want those who attended my classes to invest so I ask them to invest before proper class commences.

It is not by force and it is only for those who are interested. I want them to benefit from my classes. So they need to invest so we can learn more from there.

It is only those who are really teaching and telling people how to invest understand my message and point. Many people don't understand until they went out to the public to preach the good news. You can see this image below.



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This was a guy I thought would invest from my online classes but he told me that his laptop/phone were stolen and he left the investment. All these are good examples of some people to understand my point.

I understand your whole idea of people procrastinating rather than investing after your previous classes, which will really be frustrating or disappointing.
I know you already have plans of making them learn about the essence of not your key not your coin but I think you can maybe try this method:
Telling them to send you the money and then you directing them in getting a secure bitcoin wallet and explaining the dangers of them reviewing their seed phrase or private key to or anyone else, except those they really trust, in the aspect of next of kin. After all this you can just buy the bitcoin directly to their own wallet and then maybe with time they may decide to even accumulate more even without you buying it for them.

Once you have been loaded with information and minimum required knowledge about bitcoin and then willing to discharge to others who will be interested in learning, then you're free to make choice on how to get it done, some can afford to render a free trial class, while some may not and instead, charges people for the respective classes they may be interested in, which i still see as nothing bad, because you're making use of the opportunity you have through the knowledge acquired to open doors for income opportunities from these achievements, maybe this alone can be a motivation for activeness in learning and taking it more serious by knowing it value when paid for.

Congratulations and continue your good gesture. But I have to say that I feel you are doing something wrongly. Teach them how to invest, help them to invest and don't invest for anyone.

Don't force them to invest before you teach them, it's even against the principle of investment. They have to understand what they want to invest in and willingly agree to invest.

Do not coerce anyone to invest and also don't recommend amount of money for anyone to invest.

I read that you taught some people and they refused to invest and you considered your efforts wasted. The essence of learning about bitcoin is not just to invest, if they can genuinely understand bitcoin, you have won. Lessen the strictness so that no one will ignorantly hold you responsible for their failed investment.

When you pressure people to invest, they'll think you have a hidden reward like referrals or so. So, keep it simple.