Topic: How do you deal with friends/family when they lose their investment? (Read 834 times)
April 23, 2018, 01:32:37 AM
Before to say everything about Bitcoin in your friends and family make some good explanation about that bitcoin is so risky. So tell them first what is bitcoin and about the blockchain technology, tell them what are those sequences waiting fo them if they invest without complete knowledge about cryptocurrency. Don't makes move without proper orientation to your friends and family because when they disappointed to you all of them are really blaming you.
April 22, 2018, 11:36:14 PM
The peoples who loss at their bitcoin investment are many. You can tell them that it is just a normal occurrence
because the bitcoin price very volatile. Dont sell you bitcoin when the price falling. You need to hold your coins for long time.
because the bitcoin price very volatile. Dont sell you bitcoin when the price falling. You need to hold your coins for long time.
April 22, 2018, 06:29:31 PM
To deal with loss is not good so be patience because instead of loss you have the good option to wait the market situation because it will goes up again and you can earn more profit by only just keep waiting and just patience,
April 08, 2018, 03:17:17 PM
The very first time I told my friends/family about crypto currency, I did not encourage them to invest in it unless they made their own research about it and have experience about stocks. I explained that the price may fluctuate and has higher volatility and risks than the traditional investment vehicles. The risks involved can be managed as well and the funds they invested in it is their sole responsibility. They don't blame me for their losses because they have done their research and they understand the market movement.
You did the right thing, there are many instances of people that recommended bitcoin or other cryptocurrencies to their friends promising them great profits, their friends invested not realizing the huge risk they were taking, I cannot imagine how difficult it could be to meet with your friends and family that invested in bitcoin and that have lost so much money, it must be really uncomfortable. April 07, 2018, 10:54:17 AM
If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.
It's hard approaching family and friends who are close to you, especially in financial and money matters.
I think normally a good talk with a comforting tone and approach is the best way or a good start in
dealing with such a situation. It won't go away overnight so a daily or regular talk might be healthy once
things calm and hope restored. With market dips and red days, I think I will always talk with a positive
outlook and deliver or leave the same positive way of thinking to that person.
April 06, 2018, 01:19:53 PM
If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.
Investment are like business.. Some time you lose some ,sometime you gain much thats only part of the business/investment their ups and down.. But never let them lose hope of the posibilties, that in time they will still get their Return of inveatment and just keep moving and lern from the process so the next time you or they incounter another misleading method regarding investment they will know how to divert so it won't happen again..
April 06, 2018, 11:32:05 AM
If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.
tell them to be tough, tell them that in bitcoin win or lose is something similar April 06, 2018, 11:30:19 AM
If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.
Investment are like business.. Some time you lose some ,sometime you gain much thats only part of the business/investment their ups and down.. But never let them lose hope of the posibilties, that in time they will still get their Return of inveatment and just keep moving and lern from the process so the next time you or they incounter another misleading method regarding investment they will know how to divert so it won't happen again..
April 06, 2018, 11:20:21 AM
Investment is your own business, and you don't need to care about other people's attitude, because you have to believe that the price of BTC will continue to rise.
April 06, 2018, 11:14:25 AM
If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.
Yes, we all know that investing in bitcoins is risky, but we can't control that risk. When my friends ask me about bitcoin, I don't want to persuade them to invest in bitcoin, because I'm not sure I can guarantee that they won't lose money. April 06, 2018, 11:08:45 AM
well me i am advicing them that its is not the end there are a lot of things for investments like bitcoin as the best example it is one of the best that you can invest because for sure it give a large amount of profit.
April 06, 2018, 10:53:19 AM
If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.
Well, I believe that it is not anybody's fault to lose money here in crypto. The moment you share about bitcoin to your friends and relatives about bitcoin, you should also tell them that crypto is volatile and unstable that they should be ready for the possible changes that they may face. You should remind and inform them ahead of time so they won't blame you in case of lost.
April 06, 2018, 10:42:50 AM
It is not a good idea if we don't tell them about this before investment. We know that investing in cryptocurrency (Bitcoin and other altcoins) will give us more profits, but it also has high risks. We should tell everything about the advantages, risk, possibilities, and profits that we may obtain when getting into the bitcoin. It is to ensure their readiness of getting lots profits or losing their money. Well, once more, better to tell them about the in-depth financial terms and others. If we have told them everything, all things happen in the next future is not our fault.
April 06, 2018, 08:01:00 AM
I don't think it's ever a good idea to suggest to friends and family to start investing in crypto, or just give out investment advice in general.
This will just save you so much trouble in the future, as you cannot be held responsible for their actions.
I don't even answer questions like: 'Do you think the price of Bitcoin is going to go up'.
But if you can't suggest them to start investment in crypto they will loss those opportunities to get some moneys. Its better to suggest and approach them in a good way, then they are the one who make those decision making its up to them how they can handle risks.Its not your problem anymore as long as you gave some thoughts. This will just save you so much trouble in the future, as you cannot be held responsible for their actions.
I don't even answer questions like: 'Do you think the price of Bitcoin is going to go up'.
April 06, 2018, 07:53:45 AM
I don't think it's ever a good idea to suggest to friends and family to start investing in crypto, or just give out investment advice in general.
This will just save you so much trouble in the future, as you cannot be held responsible for their actions.
I don't even answer questions like: 'Do you think the price of Bitcoin is going to go up'.
This will just save you so much trouble in the future, as you cannot be held responsible for their actions.
I don't even answer questions like: 'Do you think the price of Bitcoin is going to go up'.
April 06, 2018, 07:45:42 AM
I keep on telling my friends and family members to buy bitcoin. But before they will invest and place their money on bitcoin I will also remind them that there are such risk involve in bitcoin due to volatility. Before I will allow them to invest I will make sure that they are ready to face the risk. They said yes and so they are already investing on bitcoin since last year and some of them suffer from the price deflation but none of them complained since they are all well-informed.
April 06, 2018, 07:41:36 AM
If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.
Explain them the risk of investment. Tell them that it is normal for them to somehow lose a small amount of money because they are just beginners and they lack knowledge about what bitcoins is. So, tell them not to blame anyone because they agreed on this. And bitcoin is part of investment so it is natural that it is risky anyway.
April 06, 2018, 07:37:52 AM
This is exactly why if you want to talk about btc or tell about it, you just inform people about it.
But never try convincing them.
But never try convincing them.
April 06, 2018, 07:32:49 AM
If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.
This is not entirely your fault.
Bitcoin allows many people to attract their attention when the value is very high.
Value of bitcoin is unstable.
You should give more understanding to your family and convince them that there is a chance bitcoin to rise the value of the price.
April 06, 2018, 05:28:37 AM
What should be done should have been done before investment losses ,allow family members to do resreach on what they to invest,it grand them on how the market works before they invest,and it reduce so much explanation from you.
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