How do you deal with friends/family when they lose their investment? - page 9.

appleyard

member

Activity: 359

Merit: 15

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.

This is why i do not recommend to my friends to invite a people who do not have any knowledge about bitcoin markets and also the risk. it takes time to teach them how bitcoin works.

DarLim11

newbie

Activity: 151

Merit: 0

That seems to be too hard to let them to understand when they feel that they lost money because of you. Just try to remind them that everything will go back to its normal price and then rise up again until they gain profit from it.
They need a sense of security and telling them how the market works will really help. Give them information about how to invest next time and give updates regularly to make sure that they will be prepared when something bad is coming.

Venue101

newbie

Activity: 13

Merit: 0

You never lose your investment until you cash out. Unless you betting on bullshit coins.

fuer44

sr. member

Activity: 1652

Merit: 262

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's say that bitcoin is fluctuating, meaning the price of bitcoin is up and down. and bitcoin prices will rise again. before they start investing, we do have to warn them about it so they already know and are ready to face the up and down price of bitcoin market.

Eragon54

newbie

Activity: 35

Merit: 0

Be sure to take necessary precautions for he next investment. After all, it always have to take risk. You might succeed or failed. But in the end, you just have to learn to everything you do.

GetOutOfMyLife

full member

Activity: 210

Merit: 110

Safein Community Manager

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.

This is why you always preface financial advice with; "Don't invest until you've done extensive research".

I just make sure that they fully understand the risks before investing, and make sure they don't invest more than they can afford to lose.

hosseinimr93

legendary

Activity: 2380

Merit: 5213

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.

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.

Sombabe

newbie

Activity: 32

Merit: 0

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.

Topic: How do you deal with friends/family when they lose their investment? - page 9. (Read 858 times)