Do your parents invest in bitcoin ? - page 4.

Synchronice

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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 ?

Not my parents but let's say that relatives of mine has a kid with health problems that makes her eligible to receive an additional financial help from the government (her health problem will be fixed, it's not something permanent). I convinced her parents (my relatives) to put that money in Bitcoin and some part of it in Ethereum and Matic. At the moment I can tell you that they are very happy because cryptocurrencies significantly increased in value since they started investing (since summer) and it's in their plans to continue investing.
So, not mine but someone else's parents are investing and I like it. I strongly believe that years later their kid will be very happy and proud of me for this.

eightdots

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Quote from: Nothingtodo on May 27, 2024, 08:23:14 AM

Quote from: re-start on May 27, 2024, 02:00:05 AM

My mother has also joined the Bitcoin community. When my grandfather inherited some money, he was considering investing in gold. However, I persuaded him to invest half of that amount in Bitcoin instead. He is now pleased that he followed my suggestion. Cheesy

My parents are not much interested in Bitcoin because they have no knowledge about Bitcoin. They always emphasize on gold or land accumulation. But I invested on Bitcoin without taking parental permission as much as I could. However, although investing in gold does not offer as much profit as Bitcoin, the risk is much lower.

Parents are often attracted to traditional types of investments. It is not easy to choose a new investment instrument or abandon old habits. Times are changing and new investment tools are emerging. While some people diversify their investments, others continue with traditional methods.

It is necessary not to force anyone regarding investment. After ensuring that they learn the necessary information about investment, the investment decision should always belong to the person who will make the investment. As time passed, we started to see people over a certain age investing in Bitcoin around us. This number is increasing every year.

Casdinyard

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Way back in 2015, and way before I got into this forum I already had a glimpse of what bitcoin is and how big it could be (honestly not as big as I thought it would still be but I thought I could make a quick buck out of it) and so I asked my parents for 10 dollars, an amount I think they would be confident to give me considering they know what investing is, and generally just how to make your money work for you instead of the other way around. But my dad laughed at me, told me I was delusional and I'm gonna get scammed sooner or later, and instead asked me to invest in stocks (which I did) but years later they saw what bitcoin is on the news and asked me if I had followed through.

Quickly turned around when they found out that a couple of clowns in my country got jailed for initiating a crypto scam which they all got life sentences with, so to sum it all up, it was a tug of war between them finding out how profitable bitcoin is, catching wind of news that bitcoin was mobilized to initiate scams and ponzi schemes, and me defending bitcoin.

So yeah, no, they don't invest in bitcoin and they probably never will. it's alright though, can't teach old dogs new tricks as they always say.

Nothingtodo

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Quote from: re-start on May 27, 2024, 02:00:05 AM

My mother has also joined the Bitcoin community. When my grandfather inherited some money, he was considering investing in gold. However, I persuaded him to invest half of that amount in Bitcoin instead. He is now pleased that he followed my suggestion. Cheesy

My parents are not much interested in Bitcoin because they have no knowledge about Bitcoin. They always emphasize on gold or land accumulation. But I invested on Bitcoin without taking parental permission as much as I could. However, although investing in gold does not offer as much profit as Bitcoin, the risk is much lower.

Luzin

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Quote from: re-start on May 27, 2024, 02:00:05 AM

My mother has also joined the Bitcoin community. When my grandfather inherited some money, he was considering investing in gold. However, I persuaded him to invest half of that amount in Bitcoin instead. He is now pleased that he followed my suggestion. Cheesy

How old is your mother? I don't think your mom is an ordinary, tech-savvy person. Besides, she's probably a brave person. She's making investments that are out of the ordinary for parents. I am curious how you convinced your mother with the instability of Bitcoin and a lot of bad news about Bitcoin.

Your detailed story might be an inspiration for others on this forum. Because I read a lot, most parents who don't do it because of age limitations, use of technology and confidence in the development of Bitcoin. I hope your story is factual.

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Quote from: Out of mind on May 27, 2024, 03:17:00 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 ?

Although I invest in Bitcoin, my parents have never invested in Bitcoin and don't trust it that much. But currently our parents believe that since we are connected to Bitcoin, and we are able to earn money from Bitcoin, they trust Bitcoin. My parents believe in Bitcoin, but they have not invested, even though I have told them that Bitcoin is a good investment project and a great trust. But they asked me to invest, but they won't invest but if I invest then surely it will be a place for me to earn good money in future. Also, I told them to give me money so that I can invest bitcoin and earn good amount from it in future. But they did not agree to this proposal, rather my parents said that you should invest a small amount from the amount you earn. Anyway, as I am not thinking of investing their money, but I will and have invested my money so that it will lead me to higher level of profit in future. But I believe that our next generation who will definitely be able to tell others that their parents invested in Bitcoin and were related to Bitcoin.

My parents also know I invest in bitcoin and am making good profits from it. But contrary to you, they offered to give me some money to invest in bitcoin and I refused immediately. Although bitcoin has potential and will grow strongly in the future, there is no guarantee of that and I don't want my parents to get depressed or have to be hospitalized if something unexpected happens. So I personally don't like my parents participating in these risky investments.

My parents have worked hard all their lives to take care of my two brothers and now it's time for us to show our filial piety by providing them with money instead of continuing to take their last money to get rich for ourselves. So I really don't like the idea of convincing or taking money from my parents to invest 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 ?

Although I invest in Bitcoin, my parents have never invested in Bitcoin and don't trust it that much. But currently our parents believe that since we are connected to Bitcoin, and we are able to earn money from Bitcoin, they trust Bitcoin. My parents believe in Bitcoin, but they have not invested, even though I have told them that Bitcoin is a good investment project and a great trust. But they asked me to invest, but they won't invest but if I invest then surely it will be a place for me to earn good money in future. Also, I told them to give me money so that I can invest bitcoin and earn good amount from it in future. But they did not agree to this proposal, rather my parents said that you should invest a small amount from the amount you earn. Anyway, as I am not thinking of investing their money, but I will and have invested my money so that it will lead me to higher level of profit in future. But I believe that our next generation who will definitely be able to tell others that their parents invested in Bitcoin and were related to Bitcoin.

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My mother has also joined the Bitcoin community. When my grandfather inherited some money, he was considering investing in gold. However, I persuaded him to invest half of that amount in Bitcoin instead. He is now pleased that he followed my suggestion. Cheesy

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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 ?

Firstly, my father's financial condition is not very good. It has become difficult to run a family, money is not in a position to save money to invest in any place. My parents don't know much about bitcoin, not much interest to know because the family is going through a financial crisis. There is no last chance that I encourage them to Bitcoin, no money in the bank balance to invest in Bitcoin. If Allah has mercy, if the family has prosperity in the future, maybe their mindset will be different. And later I can convince them to encourage Bitcoin investment.

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Quote from: Adbitco on May 26, 2024, 05:24:51 PM

Over here it's not that easy to get people convinced especially our parents because already they had this mindset that people who alway talks about bitcoin are all internet fraudster. Even when you try to go further they may label one as scammer and most our old people over doesn't understand anything about bitcoin and it's usage, instead they would want to report someone to the authorities to get one apprehended.

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. Apart from that, until now I think people who have entered old age are people who may not know or refuse to invest in bitcoin or cryptocurrency.

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Over here it's not that easy to get people convinced especially our parents because already they had this mindset that people who alway talks about bitcoin are all internet fraudster. Even when you try to go further they may label one as scammer and most our old people over doesn't understand anything about bitcoin and it's usage, instead they would want to report someone to the authorities to get one apprehended.

Smartvirus

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Parents? That’s a dumb things to ask and am really surprised having to see this! Like what do I care about my parents having to invest in Bitcoin or any other cryptocurrency projects out there. I think the most I could do is invest in their name but, it would often fall back to me as, I would be standing over their grave and not have them standing over mine. I’ve got some old forks to parent me and they are they damned too traditional to adjust to a new system. I better leave them than to complicate their minds with Bitcoin and how it works.
My investment over the years is good enough to serve in some capacity and ain’t no way they are getting to do this, am okay with the forks I’ve had to groom over the years, am cool with my parents having yo enjoy their old age and retirement benefits from their years of d service. Can’t risk no heart attack on them and let the profits or loss count in hospital bills.

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Quote from: Belarge on May 25, 2024, 11:13:39 PM

Quote from: macson on May 25, 2024, 05:14:11 PM

Introducing bitcoin to old peoples really has quite a tough challenge, old people will always feel smarter and won't easily listen to the sentences their children say, especially when we discuss technology with them, that's really a very challenge thing. My uncle has a lot of money and he really likes to invest, but when I introduced Bitcoin to him, he rejected it and would never believe in Bitcoin.. currently, my uncle is 70 years old.

The world is advancing and we should always try our best to equipped ourselves with winnings. We should be positive all round and winning becomes constant for us. Bitcoin is one of the top projects that have brought many people to riches and have also send people to trenches, just be on the winning side. Old people have zero interests and urge when it comes to cryptocurrency. However only few acknowledge the existence of bitcoin and have taken upon their shoulders to make things run easy.

There was this video I watched online that the guy was actually talking about how many things that are working today were blasted before during the early days of their introduction like crypto and many other internet stuffs but the point at the long run which he gave was that only the fee person that queued up with the lastest evolution are the true ones who are benefiting like crazy till date so it definitely pays to follow up with trend so that you won't be left out.

Yatsan

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Nope. If this question will be followed by the idea of me inviting them, then it's another no. Not all prople could handle the risk properly with investments and since we are talking about crypto investment that means we are referring to bigger risk due to higher market price volatility. The reason why I don't encourge my parents and other people about this industry is to avoid bigger problems. Encouraging them will make me part of their investment journey and that means I would be a part of their loss as well. I won't be able to guide them on a 24/7 basis. It would be stressful as well to be sharing every bit of my knowledge that I learned for years and that's with initiative. Tendency is other people just focusing on the profit but disregarding the journey of ups and downs. What's best is to let them get on top of their curiousity and have their own initiative to study and engage with crypto industry in general. In such way, they would value all the things I would impart to them.

krishnaverma

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Quote from: Nothingtodo on May 22, 2024, 12:05:50 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 ?

I live in a country where Bitcoin is completely outlawed by the government and anyone directly or indirectly investing in Bitcoin is punished if the government finds out. In this situation it seems unlikely that my parents would have any knowledge about Bitcoin so my parents do not know anything about Bitcoin for now and have no opportunity to know. So my parents couldn't invest on Bitcoin.

So how are you involved in crypto ? I am judging that you are investing also as you are very active on this forum also. You are not afraid about the actions being taken by your government ?

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Quote from: Maestro75 on May 25, 2024, 01:42:59 PM

Quote from: Nwada001 on May 22, 2024, 11:09:39 AM

My parents are the type of people who believe in what they can see with their eyes; they are both entrepreneurs, yet they find it difficult to invest in Bitcoin.

Most parents from Africa are like that and that is because they are not used to this online thing where you earn money without selling something physical. My mum used to think it was the same thing as internet fraud when I started with bitcoin. She used to be scared I would get into trouble with law enforcement. Her fears are not strong anymore now although she does not still understand what bitcoin is. Am not interested in enlightening her. It will be wasting my effort.

Reading through the replies on this thread, I discovered that most of us here have parents who share the same ideology concerning anything online. It's not their fault, many factors contribute to this belief ranging from their old age, technology advancement and their previous experience with online stuffs. We grew up seeing our parents investing in some online (probably ponzi schemes) that end up running away with their money. Since then they have a different view on anything that has to do with online.

However, I will suggest you find a way to explain it better to her in whatever way you think she can understand in order not to put her in suspense. God forbid but if anything should happen now, she will definitely attribute it to bitcoin as the cause of it. Your case is somehow similar to mine but I sat her down and explained things to her in a very detailed manner to convince her I'm not a fraudster. You should also do same to keep her mind calm, it's really frustrating thou.

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Quote from: amihada on May 26, 2024, 02:15:23 AM

Most of our parents and parents don't understand Bitcoin, they have never even heard of Bitcoin, so it's impossible for them to invest in Bitcoin, even if you explain Bitcoin to them, they find it hard to believe the benefits of investing in Bitcoin.It's difficult for us to explain to them about Bitcoin.

Agree with you our parents do not accept Bitcoin and other crypto investment because they have not experienced profit through it but when they see our success then they start to accept it by feeling satisfied that we are earning a good amount without using any physical struggles.

Previously parents were not in favor of crypto investment because very few individuals were involved in it but nowadays every other person is a part of Bitcoin Investment so they can understand the value of Bitcoin and today's parents are encouraging their children to continue this field with great efforts.

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Most of our parents and parents don't understand Bitcoin, they have never even heard of Bitcoin, so it's impossible for them to invest in Bitcoin, even if you explain Bitcoin to them, they find it hard to believe the benefits of investing in Bitcoin.It's difficult for us to explain to them about Bitcoin.

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Quote from: macson on May 25, 2024, 05:14:11 PM

Introducing bitcoin to old peoples really has quite a tough challenge, old people will always feel smarter and won't easily listen to the sentences their children say, especially when we discuss technology with them, that's really a very challenge thing. My uncle has a lot of money and he really likes to invest, but when I introduced Bitcoin to him, he rejected it and would never believe in Bitcoin.. currently, my uncle is 70 years old.

The world is advancing and we should always try our best to equipped ourselves with winnings. We should be positive all round and winning becomes constant for us. Bitcoin is one of the top projects that have brought many people to riches and have also send people to trenches, just be on the winning side. Old people have zero interests and urge when it comes to cryptocurrency. However only few acknowledge the existence of bitcoin and have taken upon their shoulders to make things run easy.

woez

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Quote from: macson on May 25, 2024, 05:14:11 PM

Introducing bitcoin to old peoples really has quite a tough challenge, old people will always feel smarter and won't easily listen to the sentences their children say, especially when we discuss technology with them, that's really a very challenge thing. My uncle has a lot of money and he really likes to invest, but when I introduced Bitcoin to him, he rejected it and would never believe in Bitcoin.. currently, my uncle is 70 years old.

How could it not be true, every parent, especially those born from a business family, will always direct their generation according to what their parents have taught them in the past?

and will not likely let their children make investment decisions without their consent even in BTC. The reason is simple, they don't want their children to go down the wrong path in investing.

Unless they take a moment to learn about BTC. If it has been proven, permission will be easy to obtain.

Topic: Do your parents invest in bitcoin ? - page 4. (Read 1060 times)