Do your parents invest in bitcoin ? | Bitcointalksearch.org

moneystery

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Quote from: Nothingtodo on June 24, 2024, 06:01:53 AM

My parents didn't want to invest in Bitcoin at first but I got them interested and encouraged that's why my parents got interested in investing in Bitcoin. Of course there was some profit after the investment but now I am facing losses and my parents are very angry with me. Because I advised my parents to invest the money they had saved and they acted on my advice due to which I am being blamed for that investment.

i don't think that directing your parents to invest in bitcoin using their savings is a wise thing to do. if they invest using part of their income, it might not be a problem because they have income and they only invest part of their income, but the problem is when they invest using their savings which should be used for their old age.

what you should do is as @balik said, you should give money to your parents so they can save more money. or you can prepare bitcoin investment for their future with the money you should give them, so that when they need it in the future, they can exchange it and get more profit.

BALIK

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Quote from: Nothingtodo on June 24, 2024, 06:01:53 AM

Quote from: krishnaverma on May 22, 2024, 10:43:01 AM

Are your parents investing in bitcoin ? Has it impacted your journey with crypto ?

My parents didn't want to invest in Bitcoin at first but I got them interested and encouraged that's why my parents got interested in investing in Bitcoin. Of course there was some profit after the investment but now I am facing losses and my parents are very angry with me. Because I advised my parents to invest the money they had saved and they acted on my advice due to which I am being blamed for that investment.

I have to say that convincing someone to invest in bitcoin, especially older people like our parents is a bad idea. And it's even worse when you encourage them to use their life savings to invest in a volatile and risky asset like bitcoin.
I don't understand why so many people have the idea to convince their parents to invest in bitcoin when we all know that bitcoin is very volatile and it is not suitable for older people. If you really want to be good for your parents, earn money and give it to them, take care of them, don't lure them into investing in things where even you cannot guarantee what will happen next.

I will even stop my parents if they want to invest in it, simply because investing in bitcoin has never been as easy as many people think, they only think about profits and ignore the risks they face.

OrangeII

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Quote from: Solokan on June 06, 2024, 08:36:39 AM

My parents don't invest in Bitcoin and I have explained many times about Bitcoin and also the benefits of Bitcoin, but my parents don't understand because what they know is that the investment they like is investing in gold or land, but honestly, this is something that is normal and I understand my parents because he is old and of course it is very difficult to accept lessons about btc.

However, after I experienced the benefits of investing in Bitcoin, my parents supported me if I invested in BTC and of course I felt happy because my parents supported their children investing in BTC because they had seen real evidence. but of course I can't force my parents to invest in BTC because they don't understand online technology, but of course everyone has different experiences, but of course there are also many parents who teach their children about BTC. But personally, my parents didn't teach me about BTC and honestly I got more support from friends on this forum to invest in BTC.

they are not wrong. The way people used to invest was in gold and land, and that method always worked. Maybe they are not interested in something new, especially if it has big risks. However, this does not need to be forced. At least, you have tried to explain this investment. However, many parents are not very familiar with how bitcoin works, and are skeptical about it. Well, that's natural, even among them there are still many who have difficulty using smartphones. But, I think it has been a good effort.

Supianto

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Quote from: MarkoUlrich on June 24, 2024, 05:22:22 AM

It's interesting to see how different generations approach Bitcoin. While some parents may invest, others may not understand it fully. Millennials and Gen Z often embrace it more readily.

Well, most people in our generation are not buying it too. I don't think that correlation is too huge.

Nothingtodo

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Quote from: krishnaverma on May 22, 2024, 10:43:01 AM

Are your parents investing in bitcoin ? Has it impacted your journey with crypto ?

My parents didn't want to invest in Bitcoin at first but I got them interested and encouraged that's why my parents got interested in investing in Bitcoin. Of course there was some profit after the investment but now I am facing losses and my parents are very angry with me. Because I advised my parents to invest the money they had saved and they acted on my advice due to which I am being blamed for that investment.

MarkoUlrich

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It's interesting to see how different generations approach Bitcoin. While some parents may invest, others may not understand it fully. Millennials and Gen Z often embrace it more readily.

Solokan

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My parents don't invest in Bitcoin and I have explained many times about Bitcoin and also the benefits of Bitcoin, but my parents don't understand because what they know is that the investment they like is investing in gold or land, but honestly, this is something that is normal and I understand my parents because he is old and of course it is very difficult to accept lessons about btc.

However, after I experienced the benefits of investing in Bitcoin, my parents supported me if I invested in BTC and of course I felt happy because my parents supported their children investing in BTC because they had seen real evidence. but of course I can't force my parents to invest in BTC because they don't understand online technology, but of course everyone has different experiences, but of course there are also many parents who teach their children about BTC. But personally, my parents didn't teach me about BTC and honestly I got more support from friends on this forum to invest in BTC.

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Quote from: Vinaa77 on June 05, 2024, 11:22:26 AM

Quote from: Magic-Money on June 04, 2024, 05:37:27 PM

Actually my parents are not believe in digital currency, because of their age, and I'm trying educate them about Bitcoin and how it works. But only what them want from me is proof, which I have invested little money I have and screenshot my buying point and print it out as evidence, while waiting for Bull Run market to sell in a higher price. Therefore I can't wait to invest for my children as a prosperous father.

It will indeed be difficult for parents to be able to believe in investing in something new like digital currency and they are used to investing in real assets, whereas when investing in Bitcoin we cannot see the physical form and only the nominal value that we can see and this will makes it difficult for them to believe because they are used to the investments they make, if your parents are interested in what you explain, of course this will benefit you when they make investments and you will be able to benefit from what they do.

This your statement classes all parents as old or not entitled with the developments of this recent generation because I believe am also a parent myself and am fully involved with use of Bitcoin as investment but although I do understand the context of what you are talking about but I feel the urge to clarify that it shouldn't be a general sense about parents that aren't willing to invest as some of them are fully aware and involved too.

puloweh555

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Quote from: Vinaa77 on June 05, 2024, 11:22:26 AM

Quote from: Magic-Money on June 04, 2024, 05:37:27 PM

Actually my parents are not believe in digital currency, because of their age, and I'm trying educate them about Bitcoin and how it works. But only what them want from me is proof, which I have invested little money I have and screenshot my buying point and print it out as evidence, while waiting for Bull Run market to sell in a higher price. Therefore I can't wait to invest for my children as a prosperous father.

It will indeed be difficult for parents to be able to believe in investing in something new like digital currency and they are used to investing in real assets, whereas when investing in Bitcoin we cannot see the physical form and only the nominal value that we can see and this will makes it difficult for them to believe because they are used to the investments they make, if your parents are interested in what you explain, of course this will benefit you when they make investments and you will be able to benefit from what they do.

Bitcoin is still very young, having only been around for just over a decade. So it's natural that parents don't believe in investing in bitcoin because it's not in physical form and most of them have difficulty learning this super advanced bitcoin technology. Because in the past parents preferred to invest in real assets that were in front of their eyes, such as gold which has been around for centuries as an investment asset and property. It could be said that our parents' generation is not a digital generation, only some parents can understand Bitcoin easily.

However, educating parents about bitcoin still has to be done so that they know the basics of bitcoin, who knows, one day they will start to realize that investing in bitcoin is better than other investments and want to invest in bitcoin even though they can't do it themselves because they don't understand the technology, at least they know the goal so they want to invest in bitcoin with your help.

wiss19

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Quote from: Strongkored on June 03, 2024, 03:32:48 AM

Quote from: krishnaverma on May 22, 2024, 10:43:01 AM

Are your parents investing in bitcoin ? Has it impacted your journey with crypto ?

No, it's not even easy to tell parents about Bitcoin, because they will usually be more comfortable with more traditional things, for example investing in land, property or gold, whereas Bitcoin has a lot to teach them, including about the technology, which for them it's difficult to understand, even the cell phones they have are only used to send messages and make calls which don't have access to the internet, so it will be difficult to convince them to want to buy Bitcoin even though we tell them about the benefits they will get and the potential for large profits.
It seems easier to ask for a faster share of inheritance so that we can buy Bitcoin than to convince them to buy Bitcoin Cheesy

Every person makes decisions based on their experiences and observations. When our parents started their life journey, Bitcoin and technology were not so advanced so it is really difficult to explain these things to them. I bought some coins and my parents got angry that I just wasted money and nothing else and would get nothing but loss but when I got profit, then they got a little bit of confidence that money could be earned from it. They are not completely satisfied, but now I have to buy Bitcoin and they don't stop selling, they always say that it is a loss and ask me to act carefully. Maybe because they don't know about it.

And nothing is surprising in this, because if we do the things that exist for us today, tomorrow our next generation will do something new, then we will also feel strange and we will not be able to believe quickly. We will give the reward of what we have done. There is no need to try something new. There may be harm in it. There are always concerns.

No parents want their children to suffer any kind of loss so they worry more about their children than the children themselves.

Vinaa77

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Quote from: Magic-Money on June 04, 2024, 05:37:27 PM

Actually my parents are not believe in digital currency, because of their age, and I'm trying educate them about Bitcoin and how it works. But only what them want from me is proof, which I have invested little money I have and screenshot my buying point and print it out as evidence, while waiting for Bull Run market to sell in a higher price. Therefore I can't wait to invest for my children as a prosperous father.

It will indeed be difficult for parents to be able to believe in investing in something new like digital currency and they are used to investing in real assets, whereas when investing in Bitcoin we cannot see the physical form and only the nominal value that we can see and this will makes it difficult for them to believe because they are used to the investments they make, if your parents are interested in what you explain, of course this will benefit you when they make investments and you will be able to benefit from what they do.

bettercrypto

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Quote from: Strongkored on June 03, 2024, 03:32:48 AM

Quote from: krishnaverma on May 22, 2024, 10:43:01 AM

Are your parents investing in bitcoin ? Has it impacted your journey with crypto ?

No, it's not even easy to tell parents about Bitcoin, because they will usually be more comfortable with more traditional things, for example investing in land, property or gold, whereas Bitcoin has a lot to teach them, including about the technology, which for them it's difficult to understand, even the cell phones they have are only used to send messages and make calls which don't have access to the internet, so it will be difficult to convince them to want to buy Bitcoin even though we tell them about the benefits they will get and the potential for large profits.
It seems easier to ask for a faster share of inheritance so that we can buy Bitcoin than to convince them to buy Bitcoin Cheesy

The majority of parents really don't understand this matter of Bitcoin or cryptocurrency because usually what they have in mind is not good about it. And that is the truth, which is also sad to think about. But the son is jealous that his parents supported him in his cryptocurrency trading.

But there are few and rare parents who give support like this. I am my parents; they don't support me in what I do, not even my relatives, as long as they only say to me that they remind me.

Magic-Money

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Actually my parents are not believe in digital currency, because of their age, and I'm trying educate them about Bitcoin and how it works. But only what them want from me is proof, which I have invested little money I have and screenshot my buying point and print it out as evidence, while waiting for Bull Run market to sell in a higher price. Therefore I can't wait to invest for my children as a prosperous father.

wtsimis

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Quote from: krishnaverma on May 22, 2024, 10:43:01 AM

Are your parents investing in bitcoin ? Has it impacted your journey with crypto ?

To be honest, my parents are not that educated or that knowledgeable about cryptocurrency. Also most parents in the country I was born in don't know anything about Bitcoin. So my parents can't invest in bitcoin. Maybe our younger generation is getting the idea about Bitcoin. We are trying to increase and spread the knowledge about Bitcoin.

Bravut

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My parents know about Bitcoin Investment, but they do not invest. They do not really care about Bitcoin or the possibilities, they are only concerned with Investments like; Land, Gold, Real estate, properties, I understand there plea since before now they already have gotten the orientation of such assets and limited to Technological advances. I would not persuade them, I have build mine and make them enjoy the dividend and benefits of it rather than pressure them. They deserve rest.

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Quote from: krishnaverma on May 22, 2024, 10:43:01 AM

Are your parents investing in bitcoin ? Has it impacted your journey with crypto ?

No, they are not investing in Bitcoin but they know that am into cryptocurrency. They don't have any amount of money to invest in Bitcoin, so I don't see the reason why I would convince them to invest in Bitcoin. However, even the reason why my dad heard about cryptocurrency is because he was pressuring me that he hadn't seen me with any hard work, then where did I go to get some money and buy some clothes that I used to wear? I have no choice but to explain what Bitcoin is all about, I thought he would think otherwise when I told him about Bitcoin because our government is trying to ban anything related to cryptocurrency, I thought he could think that I was into something illegal but thankfully, he did not.

Quote from: Xampeuu on June 04, 2024, 08:48:26 AM

Indeed, parents' prayers are very effective in supporting our success. It is very nice if parents can follow technological developments, so that we can share about what we are doing, so that we can get approval from our parents. It's different with my parents, who are already old, let alone Bitcoin, I can't even use Android, but I just emphasize that they bless every path I take to get to my destination safely.

Of course, our parent's prayers are very good in supporting our work. Though some individuals do not want to share whatever they are doing with their parents, I don't know the purpose of doing it, they are our parents, and if weren't for them, we wouldn't have been where we are today. You're doing great mate, let's continue to seek their blessings to reach our goals.

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Quote from: LDL on June 03, 2024, 01:46:54 PM

Quote from: krishnaverma on May 22, 2024, 10:43:01 AM

Are your parents investing in bitcoin ? Has it impacted your journey with crypto ?

Initially my parents didn't know anything about my bitcoin investment but now again parents know everything about my bitcoin investment. They have helped me financially from time to time to invest and I have invested a lot of money from them till now. But one thing is very important that if you share all these things with your parents, the risk involved in investing is reduced to a great extent.

Indeed, parents' prayers are very effective in supporting our success. It is very nice if parents can follow technological developments, so that we can share about what we are doing, so that we can get approval from our parents. It's different with my parents, who are already old, let alone Bitcoin, I can't even use Android, but I just emphasize that they bless every path I take to get to my destination safely.

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Quote from: krishnaverma on May 22, 2024, 10:43:01 AM

Are your parents investing in bitcoin ? Has it impacted your journey with crypto ?

My parents are interested in cryptocurrency, but they are unfamiliar with the internet, and I am afraid to get them to invest in bitcoin because before telling someone to invest in bitcoin, you must first determine their level of internet literacy, if you tell someone who is internet illiterate to invest and they fall victim to a scam, they will hold you responsible. My parents are supporting me to ensure that I grow well into this cryptocurrency because when I explain to them about bitcoin and the reason why others are investing in bitcoin. They were delighted to hear that, especially the part where I said they would be able to manage their assets without interference from the banks or government. I was telling them this in order to get their support rather than asking them to invest because I knew the extent to which they used the internet but they are helping my source of income to expand so that I can invest it in bitcoin.
My father is most concerned because everytime we discuss crypto, he always brings it up and asks me when I'm going to start my investment. Even yesterday, he asked, and I promised him I'd start my investment this month, which is my plan.

Lanatsa

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Quote from: Z_MBFM on June 03, 2024, 09:12:33 AM

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Quote from: krishnaverma on May 22, 2024, 10:43:01 AM

Are your parents investing in bitcoin ? Has it impacted your journey with crypto ?

Haha

my parents will never invest in bitcoin. This is not because they do not know how it works or they are too busy with anything that keeps them busy, but because they do not believe in earning money they did not work hard for. During their time, they were taught to work very hard for money and that was one way to know who is a responsible man. Since they are not putting in lots of strength and energy in making money through bitcoin, they'll tag it not important. Now, people no longer need to work that hard for money, all is needed is just smartness. Bitcoin is designed for those who believe in working smart for money which my parents are not Grin

. Times has changed and I will teach my children how to make money the smart way.

I think your parents are from a very old age which is why they can't trust the digital assets of today. they consider only hard work as a legitimate source of income. they don't want to believe in other easy and shortcut ways. However, it is expected that this issue will be balanced within the next 10 years. then most people will use bitcoin and start putting their money in bitcoin because of the freedom it has, banks are also against bitcoin. Because if people turn to Bitcoin, banks will lose a lot of their revenue.

Same here!

At the moment that you would really be tending to make out some explanation about Bitcoin or cryptocurrency as a whole then they do always been that skeptical on it and would be telling that it might be a scam.
Old people would usually be sticking into those things that they've been get used to on which with those fiat and those typical centralized offerings and services that they've been using up for years.
Well, you cant blame them but it do really sucks at the moment that they will really be making out those kind of discussion or argumentation that pushes up the idea that i should stop on dealing up with a scam.
As Bitcoin investor or enthusiast then of course you would really be trying to defend it out since we do know on whats the truth and this is something that needs to be clarified.

This is why on the time that having those kind of discussions then i do just simply ignore them about in speaking about crypto. This is why i do really end up on having no interest on speaking
to someone about Bitcoin or crypto on what it is. I dont really like on having those kind of negative words because it would really be that a long story for you to explain and
make them realize that they are talking shit about it. Grin

LDL

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Quote from: krishnaverma on May 22, 2024, 10:43:01 AM

Are your parents investing in bitcoin ? Has it impacted your journey with crypto ?

Initially my parents didn't know anything about my bitcoin investment but now again parents know everything about my bitcoin investment. They have helped me financially from time to time to invest and I have invested a lot of money from them till now. But one thing is very important that if you share all these things with your parents, the risk involved in investing is reduced to a great extent.

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