Topic: How do you deal with friends/family when they lose their investment? - page 7. (Read 834 times)
March 10, 2018, 01:37:55 PM
If they blame me,then its their stupidity that actually needs to be blamed. If anybody gives you a financial advice ,its your duty to actually do your due diligence and not some one else's. If you don't know how the markets will determine the prices,you shouldn't be involved with such stuff. Obviously the price will decrease and increase,based on factors. I seriously don't why people neglect to view from this opinion.
March 10, 2018, 01:31:35 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.
There are some of us who blames his/her fault with the others. Yes, you were the bridge for them to know and invest in Bitcoin. But that doesn't mean it's only you to blame. This is because, since they are an investor they must be keen on every details of the investment. It is their responsibility and not yours. They can ask you instead the details if you weren't able to explain further the details. So don't be guilty or blame yourself with their failed investments. You may tell them that we will learn from our experience and wait for a better opportunity. March 10, 2018, 01:30:52 PM
I think its better not to involve friends family into any investments, because if market down and all lose money, we can ruin our relationships.
March 10, 2018, 01:28:17 PM
It is hard to face friends and family after every steep loss. I find it hard to manage myself let alone the family. But, if there is something that I have learned from my past experiences with BTC, it is the ability to deal with failures and losses. The bitcoin market has been very harsh at times and it made me lose 20k$ in one day.
The best part about the market is that it usually recovers within a week or so. So whatever damage is done, it usually gets undone within a week and saves me from all the embarrassment.
The best part about the market is that it usually recovers within a week or so. So whatever damage is done, it usually gets undone within a week and saves me from all the embarrassment.
March 10, 2018, 12:42:06 PM
Tell them to invest in crypto is not always profitable, because there is a price that sometimes up and down, there must be a risk
convince the problem to them, so as not to blame you in case of loss, I think that is the right thing
convince the problem to them, so as not to blame you in case of loss, I think that is the right thing
March 10, 2018, 12:30:56 PM
I always tell the whole deal with Bitcoin and leave a decision to them. That way they are responsible and not me.
But no one pays attention to me yet. But After a few cars and house, maybe they will change their opinion.
But no one pays attention to me yet. But After a few cars and house, maybe they will change their opinion.
March 10, 2018, 12:25:25 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 don't think it will happen to me. I told my family about my investment in bitcoin, and I told them that investing in bitcoins was risky, and they didn't choose to invest in bitcoin. Nor did I continue to choose persuasion. 
March 10, 2018, 12:23:15 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's their choice they join bitcoin so nobody is liable for the decisions they make. They are responsible for their own loses just as they are responsible with there gains. If bitcoin value crashes, nobody is held accountable.
March 10, 2018, 12:21:54 PM
when I tell somebody to invest from beginning I make it clear that if something happens and they lose money is up to their responsibility and not mine so if you as well made it clear just tell them directly.
March 10, 2018, 12:16:37 PM
Thats why you never pitch cryptocurrencies to your family/friends. There is always a chance of them making a loss or getting their coins hacked due to some small mistake. Cryptocurrencies are still in the infancy and is still a bit away from release for the mainstream.
And the worst thing is after they lose their investments, they are going to blame you because you introduced them to that particular investment in the first place though you stressed out that it was still risky and that they are not guaranteed to make profits. March 10, 2018, 12:12:09 PM
Thats why you never pitch cryptocurrencies to your family/friends. There is always a chance of them making a loss or getting their coins hacked due to some small mistake. Cryptocurrencies are still in the infancy and is still a bit away from release for the mainstream.
March 10, 2018, 12:11:29 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's their choice they join bitcoin so nobody is liable for the decisions they make. They are responsible for their own loses just as they are responsible with there gains. If bitcoin value crashes, nobody is held accountable.
March 10, 2018, 11:40:54 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.
why must blame me ? no i am not force them to invest in this business and they did it by themself. i will just say that to friend or family who did that thing. because what really happens it is not my fault March 10, 2018, 11:25:59 AM
The ups and downs of prices are determined by non-individual economic exchanges, this is the most appropriate explanation to convey
March 10, 2018, 09:58:50 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.
See mixing relationships and family is never a good idea. I always try to avoid discussing financial topics with friends and family as money most of the times breaks relationships. However, if someone is forcing you for days for some advice, tell them in advance that prices are volatile. They should invest what they are ready to loose. If someone with limited savings asks you for advice related to bitcoins, tell them that it is not the right choice for them. This may appear rude but will help them in the long run.
March 10, 2018, 09:47:41 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.
If I wanted to convince anyone of my friends of relatives, the first I would have tell them is about all the risk and price dip is one of it. If i have given a choice, then it’s better for me to be silent about what is cryptocurrency and be selfish about it. But if giving them some information about it and in time they invest without even consulting me or asking about it, that’s their mistake and not mine to care.
March 10, 2018, 09:36:53 AM
I never told anyone or atleast a friend to invest about bitcoin. Because their is a tendency indeed that once they lost their money the blame is in you. It is best, to tell them the whole thing that the risks the volatility is always exists in bitcoin. Our money may lose or may grow in this market.
March 10, 2018, 09:31:05 AM
Well, before trying to convince them to invest in cryptocurrency, you must make them understand the risks involved in investing and also the reason why crypto markets are so volatile. In that case, you will not be blamed for their loss and they will not be surprised when the market goes down.
March 10, 2018, 09:01:43 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.
If something goes wrong, then you are guilty of this, you should tell them about the benefits and risks they will face if investing in bitcoin, they should know that the risk of failing to invest in bitcoin can eliminate their money.If you have told me about the risks they will face, then I'm sure they will not blame you if they lose their money.
March 10, 2018, 07:43:45 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.
if I myself every express a business I always emphasize the risks. related to the bitcoin price alone I must tell you about what the possibilities are.
but if the case is like you I think you can explain your friend using statistical data BITCOIN development from 2009 until now and little you tell the picture of the future BITCOIN
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