Do your parents invest in bitcoin ? - page 8.

CryptopreneurBrainboss

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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 ?

I don't see how important this is, my parents are no longer young that they should be bothered about their future life infact soon they'll depart this earth to a better place so they shouldn't be concerned about what they future holds for Bitcoin to invest in it. My father has owned some Bitcoin but he'll soon sell them and I'm not against that, what he should be bothered about is getting the best out of life before it's too late. The age bracket that should be investing uncontrollable are the youth, technically we have the future ahead of us and need to be financially prepared for it and by investing in Bitcoin we're doing that.

Our parents investing in Bitcoin is less important compared to us investing in Bitcoin or other youths in our family. My parent did invest in what was valuable in their youth years and it favoured them to have a better life for their children. I'm to replicate that by investing in Bitcoin and other valuable assets that I can depend on to make my future journeys relax and not still struggling because I didn't do what was important when I was a youth but wasting my time chasing pleasure. My father owns some Bitcoin but he isn't serious about it like I'm and that's cool.

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Quote from: mindrust on May 22, 2024, 11:11:55 PM

No my parents don’t really like bitcoin. They are mostly into the classic stuff like real estate and stocks. I can’t blame them though because they are doing pretty good with those assets. They don’t need to invest in crypto because they can already make money without taking too much risk. Living long enough has benefits like that because time in the markets always beats timing the markets. Ask Warren if you don’t believe me. He made majority of his wealth after he became an elder. He was kind if rich when he was young but as he got older, he became filthy rich.

If your parents are already investing in the stock market then kudos to them, I don't really know anyone whose parents invest in the stock market. In their case I can understand why they are reluctant to invest in bitcoin, they are already getting good results, why should they take bigger risks? If it ain't broken, don't fix it, this is their case.

UmerIdrees

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Quote from: Sebas.tian on May 22, 2024, 11:10:19 PM

No, they are waiting for our government to make Bitcoin legal in the country before they can start investing in Bitcoin, because they are type of parent who don't like to disobey the law of the country, because they know what will happen when government find decentralized currency in some accounts.

Even we are waiting for our government to legalize bitcoin but it seems an impossible thing for some countires. Don't need to go in this details but i think most of the old parents aren't fimiliar with bitcoin and have no or little knowledge of it. This is particulatly true for the parents who are above 50. I don't think there is any resistance in adopting bitcoin from parents who are in thier 30s or 40s as they have the capitial to invest in bitcoin and they have the knowledge too.

Quote from: Sebas.tian on May 22, 2024, 11:10:19 PM

I have imparted my parents about Bitcoin when i was living with them which I know that they have the knowledge of Bitcoin but they don't want to invest in Bitcoin based on their job, because they are still working under government which such thing is not allow to government workers. I know that after their pension, they will like to spend their pension funds on Bitcoin investment, because they know the type of wallet to use to hold such huge amount of Bitcoin for future purpose.

The old people usually will limit thier activity under the rules and regulation of the country and this is a good habit. We should all obey the government rules but sometimes there are sitation where government tries to ban the basic right of people like investing and trading in crypto, and in case the govt. officials do this, then people will find ways to bypass the laws and do what is in thier best interest. Just like in my country where government is puting a ban on crypto trading Sad

mindrust

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No my parents don’t really like bitcoin. They are mostly into the classic stuff like real estate and stocks. I can’t blame them though because they are doing pretty good with those assets. They don’t need to invest in crypto because they can already make money without taking too much risk. Living long enough has benefits like that because time in the markets always beats timing the markets. Ask Warren if you don’t believe me. He made majority of his wealth after he became an elder. He was kind if rich when he was young but as he got older, he became filthy rich.

Sebas.tian

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No, they are waiting for our government to make Bitcoin legal in the country before they can start investing in Bitcoin, because they are type of parent who don't like to disobey the law of the country, because they know what will happen when government find decentralized currency in some accounts. I have imparted my parents about Bitcoin when i was living with them which I know that they have the knowledge of Bitcoin but they don't want to invest in Bitcoin based on their job, because they are still working under government which such thing is not allow to government workers. I know that after their pension, they will like to spend their pension funds on Bitcoin investment, because they know the type of wallet to use to hold such huge amount of Bitcoin for future purpose.

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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 aren't unfortunately.
Heck they aren't involved in investing in general. They might've heard the most common investment here in our country which is the stock market, but Bitcoin or crypto? No, or if they heard it at least once, they aren't interested on it at all.

Both of my parents are considered senior citizens already, and correct me if I'm wrong, but in their early days, information wasn't that easy to spread unlike now that there's a thing called "internet" where we can just look at the information that we need in just a few searches. Back when my parents were at their 20's-40's probably, they might've haven't heard about investing since they live in the province area, and at that time, there's no such thing as internet.

I want to teach them this time, but it seems like they aren't interested on it at all. What's good is that they might not know investing, but they're good at real estate which - a thing which I'm not that good about. Cheesy

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Not. My parents never knew BTC and its technology, even though my parents are elderly and also have some savings that can be used for investment but I don't want to say that by investing BTC the results are quite rich and satisfying. Let him be busy with his own activities at this time. For myself, BTC is a big and exciting thing and it's a win-win solution in investing now and in the future.

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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 invest in Bitcoin and didn't even know what Bitcoin was. They only hear about Bitcoin and don't look for more information about Bitcoin. I once told them what Bitcoin was, but they preferred to know. It is normal for older people to think that they are no longer interested in things related to finance or whatever. They just want to enjoy life in their old age without any burdens so they are not too interested in understanding what Bitcoin is. It doesn't affect what I do in crypto because crypto is different from the work they are known for so it doesn't have any influence.

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My parents are not very educated and it will not be an easy task to convince them. They are also far behind in terms of technology. Often parents don't want to invest in something new that they don't understand. They are more committed to traditional investment methods like stocks or bank deposits. Can't convince them that structured deposits in cryptocurrencies. The process is similar to bank deposits. You freeze the funds for a certain period of time and then get your interest.

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Looks like you want to add seniors to bitcoin. Your initiative is very good. It seems that investing here before retirement will make life a little easier for seniors after retirement. Because parents become a burden to some children in old age. Talking about parents My parents are not tech dependent. But they have faith in me. I made some investments here encouraged by my relative. But after investing it keeps depreciating from an ATH. But I didn't panic. I am waiting Maybe at some point it will give a bull run.

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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 not that educated, it was difficult for me to make them understand about Bitcoin. I gave my parents idea about Bitcoin many times but they didn't understand easily what Bitcoin is. I told my parents that Bitcoin price was very low in 2010, it has increased a lot now and will increase more in the future. At some point my parents got some idea about Bitcoin. But my parents are afraid to invest in bitcoin knowing about the risk of bitcoin, I explained to my parents that long term investment in bitcoin can definitely be profitable. But my father likes to buy land, he buys land only if he has money.

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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 parent heard about bitcoin when it was still in its early age but due to their lack of knowledge in technological development and lack of computer knowledge, anything originating from the internet is termed as scammed and they’re scared of it and don’t even want to engage in anything like that. Fast forward to today when everyone now knows what bitcoin is, they don’t have that kind of money or even savings that enable get any and keep in a portfolio, they only had they knew, they could have bought some earlier because with this current price of them, they can only imagine it but can’t afford it anymore. They don’t ask about my choice of keeping them because they still feel sceptical about them even when they know it’s legit. The government is still making it looks some kind of a big deal not to engage in, so they are not still fully comfortable with it and even if they do, they can only imagine it but can’t be part of again.

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

Are your parents investing in bitcoin ?

Just a few weeks ago that I was in to a Bitcoin so am just trying to hold on for a little bit to learn more from high rank leaders, educated more about Bitcoin investment thread.

Well for me to convince my father to invest in Bitcoin I believe that he will going to like my way to invest.
But mum she doesn't know anything about modern facility.
but I think she will like it too but it will be very difficult to convince.

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Quote from: bitmover on May 22, 2024, 10:46:48 AM

Anyway, Bitcoin is way more common in millenials and Gen z.

I guess it makes sense: Millennials and Gen Z are in slightly different phases or their lives but they have a couple of things in common: they understand technology better then the previous generations and they are still in that age window that allows you to 1) have money 2) take some risks. The other generations may be too old to invest in high risk assets and the newer generations may have no money saved for investments.

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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 very very far from my reach at the moment but I know that my momma would have encouraged me to invest more if it is something that will be of benefit to me in the future, but for my dad, he would have suggested I use the money meant for the investment to get a wife 😂 😂 😂 because the dude was so eager to see me his grand children from me before going to joining his ancestors but unfortunately, I lost my parents in the cold hands of death a long time ago.

HelliumZ

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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 give me maximum help to invest on bitcoin although they don't know much about bitcoin but they help me with capital if I want to invest in bitcoin. But I sometimes try to explain a little bit about Bitcoin to my parents and they are able to take some knowledge about Bitcoin from me. But let's mention one thing since we live in a country where Bitcoin is banned, it is illegal for us to openly discuss Bitcoin in an open place. So I basically kept my parents at home and taught them a little bit about Bitcoin. But the happy thing is that when I want to invest in Bitcoin, my parents are by my side instead of protesting.

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No, well, my parents is in the era where they have no interest especially in internet stuff so even they heard or see about bitcoin they didn't attemp or no interest, even though they know that I do crypto currency stuff they dont have anything to say, they neither support or oppose me, its because they have no idea what I'm doing, all they know is that I become independent to them when it comes to financial, in my college days money and allowance is not a problem to be and that's why its okay to them no matter what I do in crypto stuff and also they sometimes taste the rewards that I'm getting in crypto stuff, I sometimes treat them or buy them stuff, and despite all of that they still don't have any interest in bitcoin but it is understandable and it will not affect me investing in crypto currency.

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My parents know the term bitcoin, but they don't know beyond that. My mother knows it is a kind of investment that grows in value, and at times she used to ask me what the status was, whether it was on a rising path or a falling path. At times she used to say we should've invested earlier because I said about it and regarding the chances of growth years ago. It's been a long time since she asked me about the price and everything. If she comes to know about the present price of bitcoin, surely she'll feel bad for missing out on investing when the price was less than $1000.

EL MOHA

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Quote from: Lantind on May 22, 2024, 02:24:19 PM

Convincing parents in terms of technology today is not an easy thing we can do and it is very unlikely that we will succeed in convincing them about crypto, because they are very comfortable with investing in real assets that they have known for a long time and it would be better for them We don't invite them to this risky investment which makes them anxious when they experience failure in the assets they invest in.
What you did was very good, because you didn't force your parents to invest with high risks if they invested and didn't understand it well and you preferred to focus on your own goals so as not to make mistakes in the investments they made.

I will be so brutal but I will say bitcoin isn’t for too older people except they have been in the tech field Long term before. Buying bitcoin or cryptocurrency is just about the money for it but also ways to protect the wallet it stored on are most important. Yes I agree that bitcoin isn’t for just too tech savvy people but also you still need to have that basic knowledge before falling into it.

My biggest concern isn’t even the volatility of price in cryptocurrency, this some of them can handle if you convince them that it is a long term hold thing but the problem is them been their own bank they are easily vulnerable to common simpler phishing attacks like email attacks and can easily lose every thing to scammers which is worse than the price fall we all worry about

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Goodnight, ohh Leo!!! 🦅

He sits beside me whenever I'm on my PC at his place... Dammnn!! Man wasn't joking the last time he told me about an altcoin, claiming it could be part of Bitcoin..Lol

He has pretty much a good interest innit; funny enough, he told me about this set of people that claimed to be crypto enthusiasts. They came around and rented one of the most expensive floors on a government residential building in the neighborhood for an office. He paid, got some mentorship and a little bonus in worth of coins before he told me anything. WTF?
Right now, since he's biblophilic too - he's done a good level of reading (with my coaching) and doesn't seem to relinquish.

Edit: meanwhile, mum sees everything that requires money like a scam! Hahaha!!

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