How do you deal with friends/family when they lose their investment? - page 6.

joan26

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Quote from: Sombabe on March 09, 2018, 04:58:40 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.

Well if I am in that situation I think all I can do is to keep them calm and explain how this business works even in dip times. And I tell them that the secret formula of this business is Patience. That if they don't have it they might also lose big in the future.

Wicked17

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Quote from: Sombabe on March 09, 2018, 04:58:40 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 tell them about investing bitcoin but you do not tell them the high volatility of crypto and the high risk involve then it was right for them to blame you. And if that happen, the only thing you can do is to support them and tell them that holding is the best thing to do at time of dip.

kabelpeggek

jr. member

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we should tell them about bitcoin investments, before they start to invest.
but you should never invite anyone to start investing with bitcoin, if you do not want to blame in the future.

binghope

newbie

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In my opinion, you should not entice others into the Crypto market. The market is very risky, people are very easy to lose money and also easy to earn money. But it is important they have the knowledge to invest or not. I think you should not entice them. There are many ways to get free Altcoin, I think you should guide them to do those jobs, do not encourage them to invest when they have no experience in the market.

romecheo

full member

Activity: 476

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Ouch, it was a great regrets. I also fell that way, I do the recommendation and suddenly the market goes down very deep. And until now, it wasn't recovery from the capital they invest.

But for me, i haven't any doubt about my investment, even it was lose for more than 70%.

khaled0111

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Well, I don't think they should blame you, you just showed them the way.
It is up to them to investigate and learn more before investing their money, you are not responsible for what happens to them.
However, it would be better to explain more and tell them about the risks of failing (they are your friends/family after all).

SmokerFace

sr. member

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Quote from: Sombabe on March 09, 2018, 04:58:40 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.

i will not encourage them to enter Crypto without saying they need to take a risk before investing or else if i forgot to say that i will deeply explain hows going on to the market when the bitcoin drops low and i will discuss the meaning behind those dumps in this case it will decrease their fear of losing their money.
Just mind before you encouraging other people to join in every investnent or business you need to tell them that they need to take the risk so they will not blame you in the time that they lose their money.

JCLee

full member

Activity: 280

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I think it's not my fault lol. I just let them know about Bitcoin but I didn't tell them to spend their money to invest in Bitcoin so they invested when they don't have enough experience and knowledge about Bitcoin, it's their own fault not mine. I think there are no way that they'll blame for me but I think the best way to solve this case is let them know that the whole market dump and pump everyday so they should keep calm and wait or I can find out another way for them to earn back what they lost.

Zandar

full member

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I make it perfectly clear and explain fully what the whole bitcoin entitles. And to only put in what they are willing to lose and consider it even lost after going in. That way they can't put any fault upon me. Since what can rise in price can also decline in price just as easily. If they fail to listen and neglect my advices then all fault lies on top of themselves.

Caesar-Giulius

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It is better to talk it out with your friends/family than they blame you silently. It is not late to share bitcoin in-depth now before they panic sell and really lose money.

Zentor

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It is better to warn about risks of investing. And if they invested at their own choice they shouldn`t blame you for losses

yonghaseo

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Quote from: Sombabe on March 09, 2018, 04:58:40 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.

You have to tell them at first that invest only the money you can afford to lose, because there are so many fluctuations. Don't just tell them that they can earn a big profit when they invest in bitcoin tell them also the disadvantages of investing in bitcoin.

Marileno

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Deal with them? In what way? They dont blame me for their bad decisions. If they ask for advise on how to learn from the experience i am happy to give it, otherwise everyone is a grown up and responsible for their own actions.

vv181

legendary

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It simply our fault to not tell them in detail about these new highly speculative assets and a 'brand new' technologies. It is our job to educate them about how risky these assets. I will simply tell them the detail if i ever want to teach someone about cryptocurrency investment.

bit-freedom

sr. member

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This is an awkward situation, that is why we have to explain all good and bad in investing in crypto. In any case, you can try to explain now and advise your family and friends that dips are common in crypto.

neliawesome

jr. member

Activity: 210

Merit: 1

Well if my friends or my family lose their investment i will just try to give them advices like telling them investment is like gambling sometimes you win and sometimes you lose.Investment is too risky it means the person who invest must be prepared for the outcome.

paulmaritz

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Quote from: Sombabe on March 09, 2018, 04:58:40 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.

It is best to tell them about all the risks prior to getting involved, especially to warn them about wild price swings - a normal thing in the crypto market. It is also best to make it abundantly clear that they are responsible for their own decisions - not you. Either way, if they blame you for losing money by buying at a high point and selling at a low point, then they only have themselves to blame. A loss is after all only realized when one is stupid enough to sell at a loss.

Rubick99

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Quote from: Sombabe on March 09, 2018, 04:58:40 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.

Everyone must understand the risk of invest, whatever that type. If I tell something about invest or trading in forex or crypto, first I tell about the risk and show to them proof of my histories trades. If they losing their money and then blame me, I can't say with the right words

conceivedspoon2

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Activity: 378

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I have also lost mine investment. I will tell them about story of how i survived the times and situations. You have to keep investment on till you get the right one especially because its not the end of the world. Even right now, my eth acct have been working with has been hacked, so i decided to open another one. Let them move on, its part of life.

Akselrod

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Quote from: Sombabe on March 09, 2018, 04:58:40 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.

Let everyone think with his head. If a person accuses you of his mistakes, then you should not even pay attention to them.

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