Topic: Educating unemployed friends about Bitcoin - page 9. (Read 1310 times)

What I recommend you do is to stay out of trouble, especially if bitcoin is illegal where you live. Everything you describe has the potential to go wrong, you live in an environment with people without work and with little money, and if you explain what bitcoin is to your friends you are not going to gain anything, while if one of them spends the little money he has to buy bitcoin and ends up selling out of fear in a downturn, as many retail investors tend to do, he will blame you.

I would forget about it, but it doesn't look like that's what you're going to do.


I think the same.

I know you have good intentions when you want to help them, but in that way, you are harming them rather than helping them. Bitcoin is just an investment, and it can make a profit or make us lose, so Bitcoin cannot help them escape unemployment and help them get rich without doing anything. Second, investing in savings is the right thing, but if they are unemployed, there is no income, which means saving is something they cannot lose. Therefore, they should not invest in Bitcoin.

What they need is money, knowledge isn't their priority in that situation.
OP clearly stated that they are unemployed, so we can assume they have no money to invest or trade Bitcoin. In this case, giving them a lesson about Bitcoin won't solve the problem since they are unlikely to have no money for their capital. Unless OP wants to share his money with his friends, so they can start to trade Bitcoin daily. But there are some serious problems here since Bitcoin is illegal in their country. It will be dangerous if the government knows their activity related to Bitcoin, they can be arrested. Instead of getting money, they are at risk of being jailed. I think it is not a safe way to let them involved in Bitcoin.

I think there's a very big difference compared to what you said, it's just simple because most of the country has restricted her citizens not to transact or associate themselves with bitcoin trading. Just as my country did till date which they haven't lift the restrictions, and anyone caught with that will automatically got their  bank account freezed and you think those law aren't effective?

I would not suggest investing to Bitcoin using their save money, it is very risky. There is a golden rule that " invest what you afford to lose " it looks like your friends is going to lose money because of the unstable price of bitcoin. Or they will gain, its the investor risk to take. But if you are so eager to teach them just to give them knowledge I think its ok, like common knowledge, how does bitcoin work and some technical of bitcoin. Let them know that Bitcoin isn't about just gaining money.

Taking the situation, you said that Bitcoin is illegal in your country, isn't telling your friend and making them involved in Bitcoin give a problem to them?  Aside from that your friends are unemployed, even with some of them have savings, profiting from Bitcoin takes time if the strategy you told them is investment and holding.  It would be good if they learn how to trade because in day trading there is a possibility of daily earning if they take advantage of the fluctuation.

But if your purpose is just to educate them then I think it is fine.  You can find good resources online by starting on the Bitcoin.org site.


Since you have  a rough understanding about Bitcoin, you should deepen your knowledge about BTC first before giving lecture about BTC.  Since your knowledge isn't that deep, you might give a confusing idea that may make your friend to misunderstood Bitcoin. Informing them about Bitcoin is good, and if you have a rough knowledge, researching about Bitcoin together with your friend maybe the better approach than you teaching your friends.

Teaching Bitcoin doesn't mean they have to invest. They can also learn without investing in Bitcoin. I do not know which region you are in, but if you invest and it is prohibited in your region, you risk losing these investments. I think it may not be entirely correct that only you know bitcoin in your area. It's just because of the bans that others don't talk about it.

You can tell them about this forum. Due to the risks in your area, you should act carefully. Your friends can access information quickly. I don't think you have a problem with the internet. Once you know enough about Bitcoin, the decision whether to invest or not should be up to your friends.

How do you know this? It is probably just your speculation (guess). In some places, Bitcoin is still not popular, it makes people just keep the information (or learn it) personally. Moreover, if Bitcoin isn't legal yet in your country, people should be worried to tell others.

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If they are well educated in respective positions, they don't need to find jobs but they can try to make their own businesses. Is there a program from your government to support unemployed people to have their own businesses? I think it should be the main option for this case, they shouldn't be worried about the legality of the jobs.

I can understand if your friends are worried to trade or invest in Bitcoin. They can be arrested since it is illegal in your country. Another reason is that no guarantee that they will be successful in Bitcoin, especially since they are never involved in Bitcoin/crypto. If they want to have safe jobs, Bitcoin isn't the solution because Bitcoin is a high-risk investment.

You are correct, but you can't dismiss the fact that patience is what we need to hold for a long time until the market becomes bullish for us to sell and make profit. But when someone is jobless or doesn't have any source where they are also earning money, do you think they can be able to patiently hold their Bitcoin? Bitcoin has a lot of potential, but to be frank, I don't think nowadays anyone can just invest in it, at same time cover their expensis with their Bitcoin, while still holding some fraction till they make a profit without even totally spending what they have already invested.  "I think the economic situations of this time even compels us more to not just relay on one income source.

Giving initial information is already good enough. At least, you made them aware that bitcoin cannot guarantee profitability as it could result into some losses as well. Let them know about the forum instead. If they are really interested to learn, they will do their own diligence to research on it and explore the forum. Otherwise, they will just listen to you today and forget everything tomorrow. That is possible especially that bitcoin is not legal in your country so dealing with bitcoin could create some risks for them.

In my personal viewpoint, considering Bitcoin solely as a recourse for the jobless is a misconception, particularly at the entry level. If an unemployed individual decides to venture into Bitcoin, they should either possess sufficient funds or acquire relevant skills within a specific aspect of the field.

Actually, it is a good move for you to educate people around you about Bitcoin. But,you must also be aware than Bitcoin is very specific, uncertain, and also contradictive. In this case, it is better that you tell about the positive and negative sides of the Bitcoin. and you don:t need to give high expectation of the results if investing in Bitcoin based on the experiences. Sometimes Bitcoin can really be worth but sometimes tuis is high risk. that is why we must understand the limitation and information about Bitcoin.

First of you couldn't be so sure that you are the only person who knows about Bitcoin in your region there are some who doesn't want to make it public and use the anonymity of crypto to hide it.
And if you want to help them be employed it isn't just crypto that could help them we have internet and you could search for online jobs that suites their profession there are so many freelance agent out there that are earning comfortably in their homes.
It is not always crypto that could lessen the people who aren't earning or unemployed let's face it some people who doesn't have the necessary skills couldn't make a living out of crypto.
Even

That’s why let them look for a real job first so they can start learning on bitcoin as their side income. However, I appreciate your effort in educating them, but I advise you to introduce to them the forum. That way, they will be more enlightened on what bitcoin is truly about and how they can take advantage on it. I’m just afraid that if you continue educating them, they might consider it as more important than finding a real job as their greed will be satisfied with bitcoin.

This is the first time I have heard someone say they are the only person aware of Bitcoin in an entire area. Do you know what that means? It's like you are saying that in an entire community, you are the only one who is civilized. That being said,


I think you got it all wrong when you gave them that hope and believed that they would get out of their unemployed lives just by knowing Bitcoin. You should have advised them to go look for a decent job for themselves rather than giving them such forceful hope. Bitcoin is not some kiddie money ritual stuff where anyone who gets involved will definitely get rich in an instance. Without them having something to do—I mean, having a job—how will they raise money to invest in Bitcoin, or how will they be able to sustain themselves and invest their time in Bitcoin?


Bitcoin is not an affiliated program where you will earn some referral bonus when you refer new people to it, so why then force it? I always encourage people to create awareness about Bitcoin, let people know about it, and teach them how it works and what's involved, but don't ever advise anyone to invest his or her money in Bitcoin; let it be their own personal decision. This is for you, as the person who introduced them to it, to be on the safe side. If not, when ever any of your investees' investments go sideways, you will always be held responsible, and it might even be taken to the length of them wanting you to pay back all that they might be recording as their losses.

Never let your friends get into bitcoin as a way to earn. Everyone's prime focus is to earn, in all aspects you should never indicate as a way to eliminate unemployment. This is completely wrong and I'm damn sure people who find an opportunity to earn will never explore further. Request your friends to find a job and further focus on making some earnings through cryptocurrency during the free time. Focusing on full time employment with what one have earned little by little might end in disappointment as the market doesn't stay in support of our market prediction.

Well there's no harm on telling everyone how bitcoin works, the problem is instead of helping we can also make them more down, the market is high on volatility and we already know that cryptocurrency needs a proper understanding because it is high on volatility and not all people who invest into it like the result there are also losers and there are also frustrated in crypto so if you want to tell everyone about crypto make sure that you will teach them and make them understand it very well.

Telling about bitcoin as a source of income must of course convey what the terms and conditions are too.
It's not easy to do, it takes capital and also qualified knowledge to be able to produce.
Making money is not easy if you don't have the knowledge.
Then the risks that will be faced will certainly also put pressure that you will not always get a profit.

These privileges can be obtained from Bitcoin if, at the beginning of your investment, you really believe and believe that Bitcoin can provide more benefits.
Those who start getting into bitcoin at the beginning when the price of bitcoin is very cheap and hold it until now certainly get the privilege that they become wealthy without the need for other jobs.
This is just a matter of patience and those who are patient and hold for the long term will receive the results.

Sharing Bitcoin information with your friends is a smart decision, but you should be aware of local regulations to avoid potential repercussions. It's also acceptable to provide information to your unemployed friends about Bitcoin, but you should know when to draw boundaries and keep in mind that investing in Bitcoin carries risks.
There is no need to actively persuade people to invest in Bitcoin especially if they are jobless, simply educating them about the advantages of doing so would be enough. It's risky because they might ultimately hold you accountable if their Bitcoin investment fails. Allow them to make that decision and suggest they first look for a stable source of income before making any investments.

Bitcoin is know to have made quite a lot of people very rich from time being,  that's for those who really bought Bitcoin at the very early stage, for we pleb that are newly buying and holding our Bitcoin, we still hope and strongly believe that we shall also count our fortune, because by the time we have accumulate a lot of Bitcoin and the price boom 💥, it's a real investment paid off, but if you must know, Bitcoin investment doesn't end your unemployment, it doesn't encourage you to not get a real job or fined a business and do while still investing into Bitcoin, what ever thing yous are doing, have a better plans and do it with your possible capabilities and not above your powers in a way that's gonna put pressure on you. 

I get a scenario in which those who bought Bitcoin in the early days did not just buy it and fold their arms and legs without seeking some real job to do in their career or in their profession. Investing in Bitcoin doesn't propel you to wake up at 6 a.m., drive to any office for work at 7:am,  and close by 4 p.m.; that's because Bitcoin gives you the privilege to do it at any time of your leisure, right in your home. You said your friends are very educated, just like you, so you guys should not just focus on one thing; get other things done.

You said Bitcoin can help you in many ways, but you have not stated those ways either, so that some experienced Bitcoiners here can further confirm and guide you. Be sure you are making the right choice, mate. The forum is always open for any questions or guidelines you may need.


Cheers 🥂, Dr.Bitcoin_Strange 👺👺