Topic: Educating unemployed friends about Bitcoin - page 4. (Read 1299 times)

That’s really great to hear mate. Educating people about Bitcoins is good and it will really help them to make a better investment plans. But I would suggest not to give them investment advice. Whether it’s Bitcoins or any other asset, never give investment advices. These friends who are praising you, will only make you responsible if there investment goes into losses. So keep yourself limited to educating only. Tell them about the benefits and decentralised nature of the coin. Rest they will figure out, what to do with these amazing coins.

... Bitcoin plays a significant role in eliminating the unemployment of the unemployed youth...

If being blamed is all you're thinking, you can simply tell the risk they are about to face. Your friends have to know and understand that all investments come with the risk. Explain to your friends that you are not responsible for any or if ever their investment comes to failure. Learning about the investment is still required before they invest as you only give the information of where to possibly start an investment.

Exactly, we should just introduce them and provide documents about bitcoin for them to research and learn on their own. We should not give direct investment advice if we do not want to be blamed if their investments lose money. In my opinion, giving financial investment advice to others is a bad idea because even I myself have no guarantee that my investment will definitely be profitable. So I have nothing to guarantee anyone and I don't want our friendship to break just because of money.

Exactly, we should just introduce them and provide documents about bitcoin for them to research and learn on their own. We should not give direct investment advice if we do not want to be blamed if their investments lose money. In my opinion, giving financial investment advice to others is a bad idea because even I myself have no guarantee that my investment will definitely be profitable. So I have nothing to guarantee anyone and I don't want our friendship to break just because of money.

First of all I am the only person in my area who has a basic understanding of Bitcoin. That is, in the region where I live, no one but me knows about Bitcoin.

The maximum number of friends I hang out with are unemployed. They are not uneducated they are all well educated in their respective positions but due to lack of adequate facilities they are unable to find any employment. When we walk together I talk to them about Bitcoin but they tell me that they have only heard about Bitcoin on various social media and they think that if anyone is involved in Bitcoin, the administration of our country will arrest them. Because it is through this kind of news that they are aware of Bitcoin. But when I tell them that I have a rough understanding of Bitcoin. Then they don't want to believe me when I tell them all about bitcoin they believe me. And I assure them if we all get involved in Bitcoin maybe our unemployment will go away. Because there are enough ways to earn money with Bitcoin.  

Out of all my friends two of my friends have some savings and when I told them about the investment they became very interested in investing but I didn't tell them only the positive aspects of the investment I told them the negative aspects. And I know the rest of my friends would also be interested in learning about Bitcoin but I just don't know how to start teaching them about it. Because bitcoin crypto currency is completely illegal in my country. So how can I help my friends in this regard?  

Hope you guys can give me proper feedback on this and help me move forward in helping them.

For me, I don't like to discuss anything to my friends because when money involves, I considered it as a confidential matter. just like what you've said, those friends who are praising you will only make you responsible if their investments fail. It's better to introduce it first then let them make their own research and study so they can learn it from their own and to avoid the blame in the end. Not because I don't want to teach them every details, doesn't mean I am being mean and selfish. I don't want to spoon-feed them.

That’s really great to hear mate. Educating people about Bitcoins is good and it will really help them to make a better investment plans. But I would suggest not to give them investment advice. Whether it’s Bitcoins or any other asset, never give investment advices. These friends who are praising you, will only make you responsible if there investment goes into losses. So keep yourself limited to educating only. Tell them about the benefits and decentralised nature of the coin. Rest they will figure out, what to do with these amazing coins.

I like your intentions and suggestions the most. Because Bitcoin plays a significant role in eliminating the unemployment of the unemployed youth, if you have some amount of money, you will definitely never hesitate to take such a step. Because currently the price of Bitcoin is very low speed if you can definitely deposit some money in Bitcoin then your wealth will increase in the future. And your unemployment will be eliminated Bitcoin is one of the ways to eliminate unemployment. But since Bitcoin has come in, be careful with the legal aspects and use Bitcoin properly to never face losses and you must have the ability to accept risk.

First of all I am the only person in my area who has a basic understanding of Bitcoin. That is, in the region where I live, no one but me knows about Bitcoin.

The maximum number of friends I hang out with are unemployed. They are not uneducated they are all well educated in their respective positions but due to lack of adequate facilities they are unable to find any employment. When we walk together I talk to them about Bitcoin but they tell me that they have only heard about Bitcoin on various social media and they think that if anyone is involved in Bitcoin, the administration of our country will arrest them. Because it is through this kind of news that they are aware of Bitcoin. But when I tell them that I have a rough understanding of Bitcoin. Then they don't want to believe me when I tell them all about bitcoin they believe me. And I assure them if we all get involved in Bitcoin maybe our unemployment will go away. Because there are enough ways to earn money with Bitcoin.  

Out of all my friends two of my friends have some savings and when I told them about the investment they became very interested in investing but I didn't tell them only the positive aspects of the investment I told them the negative aspects. And I know the rest of my friends would also be interested in learning about Bitcoin but I just don't know how to start teaching them about it. Because bitcoin crypto currency is completely illegal in my country. So how can I help my friends in this regard?  

Hope you guys can give me proper feedback on this and help me move forward in helping them.

Doing trading should not be their only option at this stage, as I said it's very convenient to do as part time job with little physical effort so at the situation of nothing to lose I can suggest it but becoming successful with it depends on every individuals skill levels. I have been in that situation and I did trading as one of my job at the time of recovery that is why I suggested it.

Maybe I am calm and focused about financial goals with some luck factor too but it depends anyway.

Snip~
Buy low, sell high; you people are missing the point. Bitcoin doesn't come out of the sky, nor is it that easy for someone to get started. I've been here for quite a few years, and I'm far from becoming rich or wealthy. Bitcoin requires capital, and the OP is mentioning that his friend is unemployed. As a result, he doesn't have any kind of income flowing in and relies on his savings. Thus, it'd be reckless to claim that Bitcoin could assist him in this case—perhaps after he finds a job, but currently definitely not. Bitcoin's volatility isn't helping in this case because it could lead to a loss of funds, which the OP's friend is actively using due to his situation.

Buy low, sell high; you people are missing the point. Bitcoin doesn't come out of the sky, nor is it that easy for someone to get started. I've been here for quite a few years, and I'm far from becoming rich or wealthy. Bitcoin requires capital, and the OP is mentioning that his friend is unemployed. As a result, he doesn't have any kind of income flowing in and relies on his savings. Thus, it'd be reckless to claim that Bitcoin could assist him in this case—perhaps after he finds a job, but currently definitely not. Bitcoin's volatility isn't helping in this case because it could lead to a loss of funds, which the OP's friend is actively using due to his situation.

I didn't say I became rich by crypto trading without having any knowledge about it but to start we don't need that extensive knowledge, if we just stick to the basic of buy low and sell high you can make money so that is better than starving to death due to unemployment.

Trading is easy though, but being consistent in making profits is not possible for anyone well anyone can start trading with few dollars, a smartphone and internet then why still millions out there are not doing it? Cause they're ignorant about trading.

And I bet 95% of this world population unaware that something called trading stocks, forex or crypto exists.

It's important that your friends' financial situation is really okay. If your friends are currently unemployed and struggling financially, this may not be the right time for them to invest in Bitcoin or any other speculative asset. Instead, you can focus on assisting them in their job search and providing resources and guidance regarding job opportunities. By helping them find stable employment, they will have a stronger financial foundation on which to consider future investments. So you have to respect their individual circumstances and avoid pressuring or convincing them to invest in Bitcoin if it doesn't suit their current situation. Everyone's financial journey is unique anyway, and it's important to support them based on their needs and goals.

It's important that your friends' financial situation is really okay. If your friends are currently unemployed and struggling financially, this may not be the right time for them to invest in Bitcoin or any other speculative asset. Instead, you can focus on assisting them in their job search and providing resources and guidance regarding job opportunities. By helping them find stable employment, they will have a stronger financial foundation on which to consider future investments. So you have to respect their individual circumstances and avoid pressuring or convincing them to invest in Bitcoin if it doesn't suit their current situation. Everyone's financial journey is unique anyway, and it's important to support them based on their needs and goals.

First of all I am the only person in my area who has a basic understanding of Bitcoin. That is, in the region where I live, no one but me knows about Bitcoin.

The maximum number of friends I hang out with are unemployed. They are not uneducated they are all well educated in their respective positions but due to lack of adequate facilities they are unable to find any employment. When we walk together I talk to them about Bitcoin but they tell me that they have only heard about Bitcoin on various social media and they think that if anyone is involved in Bitcoin, the administration of our country will arrest them. Because it is through this kind of news that they are aware of Bitcoin. But when I tell them that I have a rough understanding of Bitcoin. Then they don't want to believe me when I tell them all about bitcoin they believe me. And I assure them if we all get involved in Bitcoin maybe our unemployment will go away. Because there are enough ways to earn money with Bitcoin.  

Out of all my friends two of my friends have some savings and when I told them about the investment they became very interested in investing but I didn't tell them only the positive aspects of the investment I told them the negative aspects. And I know the rest of my friends would also be interested in learning about Bitcoin but I just don't know how to start teaching them about it. Because bitcoin crypto currency is completely illegal in my country. So how can I help my friends in this regard?  

Hope you guys can give me proper feedback on this and help me move forward in helping them.

If I were you, I would not tell my friends that I own and trade bitcoins.  

I would just tell them that I heard about this technology from third parties and got a bit interested in Bitcoin.  After that, I would tell them about the pros and cons of investing in bitcoin.  

If they were not interested in my story, then I would not convince them that investing in bitcoin is what they need.  Perhaps this is not true.

It's important that your friends' financial situation is really okay. If your friends are currently unemployed and struggling financially, this may not be the right time for them to invest in Bitcoin or any other speculative asset. Instead, you can focus on assisting them in their job search and providing resources and guidance regarding job opportunities. By helping them find stable employment, they will have a stronger financial foundation on which to consider future investments. So you have to respect their individual circumstances and avoid pressuring or convincing them to invest in Bitcoin if it doesn't suit their current situation. Everyone's financial journey is unique anyway, and it's important to support them based on their needs and goals.