How do you deal with friends/family when they lose their investment? - page 5.

Sombabe

newbie

Activity: 32

Merit: 0

Quote from: pooya87 on March 09, 2018, 11:51:12 PM

it is pretty simple actually!
i have never introduced bitcoin as an investment to anyone to this day. if i tell others about bitcoin, i am going to tell them "bitcoin is a decentralized currency", expand on that and finally maybe i tell them how the price of it works based on its limited supply and growing demand.
this simply solves all the problems of them wanting to invest only to get rich over night and then with a small price drop they panic,...

i think I like this approach.

wibe23

newbie

Activity: 2

Merit: 0

Before they invest, you should explain in detail the possible risk status of the cryptocurrency market, so that they are prepared in advance. Moreover, everyone should have their own judgment ability, can not simply listen to other people's suggestions, they also have to understand the relevant aspects of knowledge and information.

angelaurum

jr. member

Activity: 42

Merit: 1

Hail HYDRA

bloody hell that is one of a big problem i am facing now
its really hard to explain but i just tell them that cryptocurrency is very risky

i lost alot on crypto scams and it affects alot my daily life
i quit my job just to do crypto but the time i did it everything went south

crypto has so many swings... we just need to learn to accept it
just tell them the whole story and don't make stuff up

explain them using graphs and statistical results of their investments

hydeevanz

member

Activity: 182

Merit: 10

Quote from: Sombabe on March 09, 2018, 05:58:40 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.

To be honest, my family doesn't care about the bitcoin because their perceptions about bitcoin is a scam. As the matter of fact, they always tell me to stop dealing with bitcoin because they want me to focus on my studies. Investment is not a big thing to my family because they don't have enough money for investing.

Nilda

member

Activity: 336

Merit: 14

That’s Murphy’ Law...If anything can go wrong, it will. Even the most extensive research can’t guarantee a risk-free investment.

genology

member

Activity: 168

Merit: 10

I always tell them it is part of the game. An investor must know when to sell or buy. I always tell them them that if an investment has potential to grow in the future, don't sell even it goes down in growth. It is because someday it will rise and you will be one of the people who benefits from it.

Amajaa

member

Activity: 392

Merit: 10

You must first explaine to them all the possibilty on losing in terms of investing in one coin but as musch as posible explain to them the profit they get more if they know how to invest in the right time and right coin.. Losing is part of investing though we have to deal with it but we can avoid it if we learn some strategies.

lodi123

newbie

Activity: 126

Merit: 0

Quote from: Sombabe on March 09, 2018, 05:58:40 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.

We can deal to family and friends by make them more interested and not losing hope for everything it's only a trials of life they can try also to bitcoin just keep trusting

Gintama214

sr. member

Activity: 462

Merit: 250

DONATION SENPAI PLEASE <3 <3

Quote from: Sombabe on March 09, 2018, 05:58:40 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.

If you want to tell your family or friend to invest in bitcoin be sure tell them about the risks that it has, if you are talking about investment there are always risks but it also will make you earn depending on the price of bitcoin but for me I won't force anyone who is not interested and are willing to take the risks with bitcoin. I believe that bitcoin will revolutionize our currency and if they don't think like that then just don't waste your time.

lyks15

full member

Activity: 546

Merit: 100

I hope it will never happen that my friends or my member of my family will lose their investment specially when I am the one who are encouraging them to join and invest in one business venture. But when it will happen I will explain to them that business is always a business there is always a big risk for your investment. So when they failed just motivate them and tell them that every businessman are always learn in their own mistake. So to provide your investment lose just make it sure that you are mentally orriented and have exact knowledge before investing in any kind of investment.

SaShiRaJaVu

hero member

Activity: 1694

Merit: 541

Quote from: Sombabe on March 09, 2018, 05:58:40 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.

When it comes to any form of investment ,never give anyone any assurance about the amount of profit they are going to make with it, rather you can introduce them to the new investment platform and tell them about the negatives and the positives if they are really good and have an idea about investment they will understand it and they wont be blaming you.

Aldritch

member

Activity: 115

Merit: 10

In the first place before they invest you must give them a warning it is risky to invest in bitcoin. Let them first learn about crytocurrency before they invest money. It's hard to blame so explain them before they invest so you do not have a misunderstanding of your family and friends especially if their investment does not succeed.

jdeanne92

member

Activity: 392

Merit: 10

First things first. Comfort them in any ways possible. And later on explain to them that cryptocurrency is a big gamble. Sometimes you and sometimes you dont.

markdario112616

full member

Activity: 816

Merit: 133

First, I don't persuade or refer anything especially when money is included, to my relatives without giving them an idea which is which. I secure my reputation first and foremost, I don't want to take the blame if ever they fail. So before anything else, I will provide everything they need and teach them everything I know but if they are already in the live situation, It's now up to them on how will they play.

Shamie1002

full member

Activity: 406

Merit: 102

If I were you, I should have make them aware first that investing in cryptos are risky yet with proper handling and patience, it will all be worth it. Another thing you should explain to them is the extreme volatility of cryptocurrencies and it can actually go high and low drastically. If they are aware of that kind of things, it will not be easy for you to tell them that they should let it stay first and not take it out o cut loses. It can still rise and make profits. Patience will make losses disappear.

asyakashi

sr. member

Activity: 1918

Merit: 256

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Quote from: hosseinimr93 on March 09, 2018, 06:05:51 PM

Quote from: Sombabe on March 09, 2018, 05:58:40 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.

Better to tell them about the probability of losing money before they invest. Otherwise, you should try to convince them to hold their coins. But it is so difficult. Because I don't think they trust you.

By the way it is not your fault. People are responsible for their decisions.

Though it's been done a lot of people become greedy with their trade.
they do not hear and have become blind and deaf for money.
Only experience will give a good lesson.

ElusivePhantom

newbie

Activity: 25

Merit: 0

You need to make it clear to anyone you help (not persuade or give false promise to etc) that this is no different to any type of investment.

You could made or fortune or lose it all. It's their personal choice to get involve.

If you're taking someones money to promise returns, that's most certainly unacceptable and will only lead to disaster.

Wish 107.5

full member

Activity: 420

Merit: 102

When they lose their investment, I always cheer them up and talk about the other opportunities they can get through working on cryptocurrencies.

Deathgamer

member

Activity: 322

Merit: 10

I feel so bad if one of my friends or my family lose their investment the reason why I am always reminding them that investing in bitcoin is risky and also it takes a long term to earn here thats why I told them to always be patient if they want to earn big.

faceoff97

full member

Activity: 644

Merit: 113

Quote from: Sombabe on March 09, 2018, 05:58:40 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.

Be sure not to convince anyone to invest, let them decide and just make them understand hoq it works. Remind them that invest is also abiut taking the risk. Be sure that are just investing what they can afford to lose. When you have done this things, surely you will not a hard time explaining them what just happened and how shoukd they respond in that kind of situation.

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