Do your parents invest in bitcoin ? - page 2.

AVE5

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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 ?

This is very interesting and reminded my recent thread about Imagine your household by building a financial tree on bitcoin chain.

My parents doesn't Invest in bitcoin but I wished they do so that we could always have most of our discussions relating to the same goals of our same asset holdings on the bitcoin blockchain. It'd be much interested giving updates and consulting each other at when necessary and so as much we could be sharing same financial advisories specifically to enhance in our bitcoin investment but all these are just fallacies because I'm into this bitcoin investment all by myself but I'm doing pretty good anonymously because no one has my digital assets on track to be any form of discussion as it maybe if we had a family financial tree built on bitcoin chain.

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Quote from: Zoomic on June 02, 2024, 01:17:14 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 ?

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.

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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 ?

Honestly, if my parents wanted to invest in bitcoin, I would discourage them, let alone give them bitcoin investment advice. I think they are too old and really no longer suitable to invest in bitcoin, a digital asset that requires a lot of knowledge, an asset that is highly volatile and risky…there are many real factors is no longer appropriate for their age.

I usually don't interfere in my parents' decisions, they should do what they like but if they ask me, I will advise them to invest in gold or real estate if they have enough money. I would advise them to stay away from bitcoin because I don't want them to get into trouble or pressure when investing in bitcoin.

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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, 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

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Quote from: CageMabok on June 02, 2024, 04:42:40 AM

Even though they are too busy with their careers, I think your parents also know about Bitcoin even though they have never owned Bitcoin and have never bought Bitcoin to store it. Because if your parents are officials, or artists or successful entrepreneurs, I'm pretty sure that people like that have heard the word Bitcoin from other people or from their colleagues who are in the same job. It's just that most people who are busy improving their careers obviously won't have time to learn more about Bitcoin so they won't have any interest in buying Bitcoin and investing in Bitcoin because their time has been used to just think about their careers.

Most of our parents are old and believe that they have gone past that era and feel our era, and that is why they do not bother much because most are already retired, and do not need to spend much money since their pension is still coming. Most of them know but would rather allow us to do our thing rather than get involved. Some might even support their child financially since their friend's kids might also be into Bitcoin and they might even ask you to bring profit to them from time to time. the word Bitcoin is everywhere now; you can invest when you want to because even on social media you will hear about it. just for anyone to use the right channel to invest.

And because of its nature, old people are always conscious and they feel they might not have the time to do all the monitoring and others, because sometimes when you are deeply into your career, they might not have time, and people that are into their career should consider holding because with their work at hand, wanting to trade will make everything more difficult because its time consuming so they should still go for trading.

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it is very difficult to explain what bitcoin is to them because bitcoin cannot be held, many parents want to invest in the real world that can be seen and can be held, for example they invest in large areas of land or they build shops to sell.

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My parents invested on my advice. They managed to make very good money, but they are still quite skeptical about such investments, viewing them as risky. I think this is due to their incomplete understanding of this activity, but I am glad that I was able to help them earn money.Although I don't think I will insist on further investment for them, even if I am confident in their profitability.

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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.

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Quote from: CageMabok on June 02, 2024, 04:42:40 AM

Even though they are too busy with their careers, I think your parents also know about Bitcoin even though they have never owned Bitcoin and have never bought Bitcoin to store it. Because if your parents are officials, or artists or successful entrepreneurs, I'm pretty sure that people like that have heard the word Bitcoin from other people or from their colleagues who are in the same job. It's just that most people who are busy improving their careers obviously won't have time to learn more about Bitcoin so they won't have any interest in buying Bitcoin and investing in Bitcoin because their time has been used to just think about their careers.

Parents who have careers in business, officials or artists must have heard of Bitcoin but they have no interest in investing because they do not understand how it works. Although not all of our parents know about Bitcoin, there are many sources that make them have or often hear about Bitcoin. For example, if they have a smartphone and of course news or videos about Bitcoin will always appear on their social media because there are many people who make videos or news about Bitcoin.

But convincing our parents to get involved in investment is very difficult because they have their own mindset about investment. As we often hear that in every era there must be a different investment pattern and in their era there was no such thing as bitcoin so for them this was a new step and needed testing according to their views.

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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 usually invest in bitcoin and other cryptocurrencies, they started investing in bitcoin with me but my parents like it. That's why I bought bitcoins with my parents' retirement money, and have held these bitcoins for years and will hold them for years to come.
My plan is from here I can earn bitcoins and give maximum gifts to my parents. Believing since the time I first started trading bitcoins.

CageMabok

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Quote from: Mrbluntzy on June 02, 2024, 04:33:35 AM

My parents don't even know about Bitcoin, they are too busy in their career. I am the only one in the family that
has full interest of Bitcoin.

Even though they are too busy with their careers, I think your parents also know about Bitcoin even though they have never owned Bitcoin and have never bought Bitcoin to store it. Because if your parents are officials, or artists or successful entrepreneurs, I'm pretty sure that people like that have heard the word Bitcoin from other people or from their colleagues who are in the same job. It's just that most people who are busy improving their careers obviously won't have time to learn more about Bitcoin so they won't have any interest in buying Bitcoin and investing in Bitcoin because their time has been used to just think about their careers.

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My parents don't even know about Bitcoin, they are too busy in their career. I am the only one in the family that
has full interest of Bitcoin.

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Quote from: Bitinity on May 30, 2024, 01:47:50 AM

They dont, they are old enough and not even following the technology in general. It is even hard for them to use smartphone, mostly they use smartphone for phonecall/messaging only. Even though they know that I am as their son investing in cryptocurrency, they do not really care about it and they do not want to know about it more. Maybe because it is related to education background which is so low in my country, not many people who are in the same age as my parents are well educated in my country.

Well, I also have parents like that. Even they don't really know how to use a smartphone. However, I think they no longer want to think about complicated things, let alone choosing something risky to invest in. So far, they have only chosen gold, or real estate to invest in because they have always been very valuable. However, I don't think we should force them to invest in this technology, so if we are interested, then we just have to utilize it ourselves.

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No. There would only be a few people whose parent invest in Bitcoin. Older people see Bitcoin as a new age thing and it’s not for them. They don’t want to detach from the bank because all their lives it has worked for them. So they don’t have the zeal despite understanding what it does. They believe it’s our own luck and benefit. Only very few parents would even understand how Bitcoin works and why.

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Quote from: Gladitorcomeback on June 01, 2024, 08:30:19 AM

This is one of the reasons why it is difficult to convince a person from old times to accept cryptocurrencies and make investments in them because they would say that they would rather invest that much money in something that has a physical existence instead of doing it digitally on something that they can't even have or see.

Everyone has their own ideas for developing investments and indeed when talking about real estate also with a focus on development and land remodeling it is also still something very good so that indeed they already realize that it will benefit them then it cannot be blamed.

Just because they choose other options and are not in bitcoin does not mean that it becomes an unfavorable situation for us because after all being in bitcoin is ultimately not a compulsion so when many people think that being in real estate is better then let it go because it is the way.

Indeed, introducing it is still quite necessary but in the end we must also realize that something like this (being in bitcoin) is back to the desires and beliefs of each and those of us who are already in bitcoin can only show that being in bitcoin is also still very worth it while when they are in other investments then indeed we only need to show the advantages we have over them even though in the end we cannot invite then indeed we will also have no problem with that because after all real estate is also profitable with risks that are not greater according to them.

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My parents haven't decided to invest in Bitcoin yet, but I'm working on it

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Quote from: Webetcoins on May 28, 2024, 01:33:23 AM

Quote from: Dr.Osh on May 27, 2024, 12:47:59 AM

yes, especially if they are old, or they don't understand technology. It is very difficult to attract them into this investment. Moreover, when they see the value of their assets decreasing, it might make them panic.

There are old people who are still active and also smart to understand it easily. If not, we still can try to explain it to them and it's okay if they don't want to. There is no need to force them. There are still people who will join it, so the price can still continue to increase and if we are profiting greatly, we still can give something to our parents if we think they are having a financial issues.

Plus we need to remember that not a lot of old people have money. When people think of retired people, they may think of some American or European that has pension and retired, but they do not realize that over half of the worlds population do not have any savings even at age 60, and usually they fall to welfare to help, they retire quite poor, and do not have anything to invest.

While the ones who have money do not invest into bitcoin all together and only some do, the ones that doesn't have the money can't even do it if they wanted to. If every retired person in the world had some pension to relax, then I bet that there would have been a lot more people who would invest into bitcoin even at old age as well.

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Quote from: amihada on May 30, 2024, 03:28:47 AM

where I live, many parents invest in land or build rental houses. If people found out that we were directing their thoughts to investing in digital currency, they would be laughed at and they wouldn't want to hear about it because for them it was just a hallucination or just empty talk.

That is the situation in most places where elder people have no interest in anything that is done online because they believe it is something useless. I have often heard elderly people saying that the internet and everything in it is only here to keep us away from the world and our lives because they see people using mobile phones and other electronic devices all the time and have less to no time for their families.

This is one of the reasons why it is difficult to convince a person from old times to accept cryptocurrencies and make investments in them because they would say that they would rather invest that much money in something that has a physical existence instead of doing it digitally on something that they can't even have or see.

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Quote from: Ricardo11 on June 01, 2024, 06:47:37 AM

My parents do not know anything about Bitcoin, moreover my parents understand much less about the online world. This is why neither of my parents invested in Bitcoin. Also I never tried to explain them about Bitcoin, I don't know why?, Also they are not very interested to understand about Bitcoin, my father is a businessman. He has been doing business for almost 20 years, business is very dear to him. So I didn't want to separate him and put him somewhere else.

But I have been investing bitcoins on DCA method on regular weekly basis. I will continue this for a long time.

I think anyone who's not interested to understand bitcoin you don't need to force them, unlike as you said earlier that your parents understand much less about the online world, so I think this is why you find it very difficult to explain to them about how bitcoin investment works. Moreover due to the scam that has been happening online this days, so you wouldn't want your parents to fall a victim to them, actually you don't have to be blamed for not introducing them into bitcoin investment, the must important thing is that he has something doing and he's very much okey with it.

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My parents do not know anything about Bitcoin, moreover my parents understand much less about the online world. This is why neither of my parents invested in Bitcoin. Also I never tried to explain them about Bitcoin, I don't know why?, Also they are not very interested to understand about Bitcoin, my father is a businessman. He has been doing business for almost 20 years, business is very dear to him. So I didn't want to separate him and put him somewhere else.

But I have been investing bitcoins on DCA method on regular weekly basis. I will continue this for a long time.

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