Topic: How do you deal with friends/family when they lose their investment? - page 8. (Read 868 times)
March 10, 2018, 06:07:13 AM
Perhaps I can tell them what the situation is when they invest should they accept what will happen to their investment because the state of investing is sometimes a big loss and this investment will give us a great deal of profits.
March 10, 2018, 05:41:13 AM
Investing without proper explanation and awareness of high potential risk is extremely irresponsible. Such situation should not happen. Even though, I try to encourage my friends and family to read about Bitcoin, I start with trying to educate them, not with forcing them to spend a few hundred on something they don't even understand. Do you think that they would understand that someone has just sold another six thousand BTC and that's one of the reasons why the market is panicking? I guess not.
March 10, 2018, 05:33:16 AM
I tell them to just hodl. And when they don't listen, I just tell them tat they can sell if they want to, but look at the price history... it always goes back up. I show them that i'm still hodling long term. If they still want ot sell, their losses are on them.
And usually they continue to hodl.
And usually they continue to hodl.
March 10, 2018, 05:31:43 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.
I hope that you told them, before investing anything, that they must invest money they can afford to lose. And also, tell them that you are optimistic and they should hold their Bitcoin. There are always some fluctuations on this market. It's a long term investment, they are not going to be rich instantaneously. Rome was not done in one day.
March 10, 2018, 05:07:16 AM
I may be a bit guilty, but I think they are all adults and should bear all the consequences for their investment choices. I can't control the price of Bitcoin. I can't predict exactly how much it will cost. I can only encourage them, Bitcoin is a very promising currency, it should continue to hold, waiting for its price to rise.
March 10, 2018, 04:51:24 AM
Its your fault persuading them to invest without giving them enough knowledge before investing... You should tell them the risk of investing not just the positive side.
March 09, 2018, 11:18:17 PM
Before they choose whether or not to invest, I will inform them of all possible risks. Once the funds are invested, they must be responsible for the consequences. They are all adults and should bear the consequences of their own decisions.
March 09, 2018, 11:09:55 PM
I don't think it's a good thing to involve family members and friends, but you must explain the instability of bitcoin and the possibility of loss before giving them publicity.
March 09, 2018, 10:55:08 PM
That's why I never asked them to invest in bitcoin, I only explained and suggested that it's very profitable to invest in bitcoin but crypto currencies is a high risk investment with a very fluctuative price, it is very important to let them know the danger before they jumped in crypto currencies
Never asked them to invest, when the investment failed they will blame you, when it's success they wont remember you, this is the lesson I got from my experience
Never asked them to invest, when the investment failed they will blame you, when it's success they wont remember you, this is the lesson I got from my experience
March 09, 2018, 10:51:12 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 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,...
March 09, 2018, 10:46:50 PM
I will not let them blame me, and I will motivate them, so they can be patient waiting for bitcoin prices to rise again. and they can take the advantage.
but, before, I will explain first about the risks of bitcoin, about management of money and strategy for bitcoin investment, so i do not make them surprised.
but, before, I will explain first about the risks of bitcoin, about management of money and strategy for bitcoin investment, so i do not make them surprised.
March 09, 2018, 10:35:57 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 better say it not to be tempted by a false investment or cloud that is sure it will make the investors loss and should say to stay away from it but if your friend is still desperate then leave it and you will see until where your friend was able to enjoy it after suffered a loss then you are silent because you have been warned before it happened.
March 09, 2018, 10:32:10 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.
Originally invest in digital asset is very risky. We should not push any one to invest in bitcoin but just tell them that bitcoin provide big size of opportunity for everyone. Let them join with their own will and risk. If the price rall then nothing that we can say to them except wait and be patience. March 09, 2018, 10:27:08 PM
You are right. If your family does not understand Bitcoin, it will not invest. You'd better not let them invest.
March 09, 2018, 10:25:17 PM
Just because you mentioned Bitcoin or shared your story with them, didn't mean they had to invest right away. They should have done their own research to see if it was something that could work for them. If they had taken the time to just read a bit they would have known it was a high risk investment.
Don't think too much about it, they blame you cause they don't want to blame themselves (this happened with my aunt. We had some investments in "mutual funds" - not sure if that is the correct term in English - and we were doing well, so she decided to invest, unfortunately for her she invested when profit was not as high and then it started dipping, so she lost some money. She always blamed us for encouraging her to invest, which was not the case. Anytime the conversation comes up, we ignore her).
Don't think too much about it, they blame you cause they don't want to blame themselves (this happened with my aunt. We had some investments in "mutual funds" - not sure if that is the correct term in English - and we were doing well, so she decided to invest, unfortunately for her she invested when profit was not as high and then it started dipping, so she lost some money. She always blamed us for encouraging her to invest, which was not the case. Anytime the conversation comes up, we ignore her).
March 09, 2018, 10:09:21 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 never give them any sort of opportunity to blame me they ask me for advice i keep telling them that always remember there is a huge risk and that i had bought at a way lower price so beware anything can happenPeople still tend to blame you all i say them is sell it if you think it's a scam and blame me for your losses for the rest of your life
March 09, 2018, 10:06:25 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.
To be ready with this kind of circumstances, it is better that from the beginning we tell them that this low seaaon can really happen. Let them read history of bitcoin or talk to others likenin forum. Having some advance knlwledge on this, they will be more cautions with their bitcoin investment Let them decide by themselves so that no one can be blamed., it shod be their own will. However, this situation cannot be avoided sometimes we just have to set their minds and help them recover from their losses when the market is active and good. 
March 09, 2018, 09:30:12 PM
You must told them in the first place before they invest in cryptocurrencies that its too risky and we cannot assure a huge profit it may fall in any time explained to them briefly so that they understand the consequences of bitcoin investment.
March 09, 2018, 09:18:22 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 have not recommended not investing in or joining an industry without knowing it. Moreover, investment is always risky, and no industry is making money, except for begging. The ultimate decision-making power of individual investment is self-made. Others are just suggestions, so I will not be embarrassed. March 09, 2018, 09:21:55 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.
Most people are too impulsive and worry too much about investing. Success requires a great deal of calmness and patience, but it must also be sufficient when opportunities arise. It's silly to judge risk based on volatility. We believe that there are only two risks: First, we have no return; Second, we don't have enough returns. Some good businesses are also volatile. So if the investment fails, you can advise your friends or family members to be calm and patient and wait for the opportunity to come back.
Jump to: