Topic: How some people see Bitcoin on the other side (Read 180 times)

People who join the investment want big profits in a short time and that's what attracts them to join the fake investment. They did not check the details of the program and directly deposited money to join. And when things don't work out as they thought they would, they complain and ask for a refund. But sadly, the money has gone with the scammer.

But if they just buy bitcoins and hold them in their personal wallets, the chances of them being scammed are slim because as long as they can guard their personal wallets, that won't happen. They also have the opportunity to sell their bitcoins at a high price on a later exchange.

But that's what's happening around us where currently the name "Bitcoin" has been misused by people who are not responsible and only want to benefit from deceiving others. But if those people would take the time to learn and check out what's being offered to them, they could certainly avoid the scam.

It's about how we can keep the money we want to invest and not be easily tempted if an investment program is too good to be true. And if they have bought bitcoins, it's better for them to keep them than to invest in programs we don't know the truth of.

If we encounter this thing with our family or friends, we should warn them and advise them not to try to join because it will only trick us later.

Welcome to Bitcointalk forum mate, hope you enjoy your stay and your journey here in Bitcointalk and your journey in crypto field.

First of all, if you want to introduce cryptocurrency such as Bitcoin, Ethereum to your family, friends and neighbors then you are free to do so and you won't get in trouble if they lost their capital or the money they use to invest in crypto as long as you explained it to them about its risk and such. In that way, it won't be your fault that they lost their money and you should also tell them or explain to them that itbis entirely up to them if they want to invest or not. In other words, they are either interested in crypto or not which brings to the explanation earlier which is they invest or not.

Second, you will only get in trouble if someone reported you or someone found out that you are interested in crypto currency and have stored crypto in your wallet like BTC, ETH and BNB IF CRYPTOCURRENCY is banned in your country. If you already know about this then you should know that there are some countries banned the use of Crypto and will be sent to jail if caught and there are also countries that supported Crypto and some even make BITCOIN a legal tender like EL SALVADOR (Try researching about it).

Third, In order for you to make them not very afraid to cryptocurrency is educate them all if they are willing to be educated about it. Though some people may not be interested but still, you should focus on teaching those people who are willing to learn or even make them know about it although they may not use it at all (What I meant about this is that it is better to be aware of something rather than knowing nothing where most of them are either geting fooled or getting scammed).

In this your thread I will pick out two possible risk in bitcoin. One: bitcoin Investment itself is risky because the price is not stable. Example now that bitcoin is in between 27-28k$ and you tell some to invest with $500,000 and tell the person that he or she will have a profit of $700,000 when bitcoin rise up and the person invested in it with your influenced and waited to reap his profit for about a year and bitcoin price has came down to 16k$ instead of rising and the person is tired to wait so he what to use his money and at that time what will you do? Then the second risk is, as you said, internet fraudsters are everywhere, now in the process of making the Investment for the person, the coins were sent to a wrong address, again what will you do? Investing for someone is not a good thing but you can teach them and not to invest for them

As a newbie, if you wanted to educate others, educate yourself first so that you won't be spreading wrong information to your neighborhood.  It is a common mistake for a newbie to be excited about their new found investment and forget to get educated themselves before sharing it with friends.  The lack of knowledge often ends up sharing wrong information that can mislead other people.  Aside from that, when trouble is met, as a newbie, it is often to not know what to do to solve the problem.

So my advice, before sharing Bitcoin as an investment opportunity, we must be knowledgeable enough about all the factors and implications of investing in Bitcoin.  Also, avoid convincing people, it will only give you trouble if the investment does not do well.

There is a problem that your community currently facing and you have the solution! If you look around and found out scammers or fraudsters are deceiving many people and citizens what stopping you to help your own community?

I assumed that the only thing that makes you afraid is they lose their capital due to price changes. If that so, that is surely better compared to people losing their bitcoins to those fraudsters. You can educate your community about what Bitcoin actually is, and its characteristic and how the market works. On the other hand, there is a clear example of what bitcoin is not actually meant to be, which is the one that was preached by the frauds. So you can give a clear distinction by the examples of it.

If after your introduce it has come to investing and these people started buying bitcoin and then saw that the value is going down, then yes.

They might blame you for their losses and it had happened to many and that's why many from the community don't want to introduce it anymore and just good advocating it online.

Although it differs the situation and maybe people in your neighborhood are kind and excited to know more about it, you can fairly say that it's part of the journey and show them proof that this how bitcoin moves at most times.

Your decision teach the other about bitcoin is good but may I know how long have you know about bitcoin because your account still newbie, don't be too hasty to teach other people about bitcoin, especially your own position, you still don't fully understand how the system works and how to make profits on bitcoin.

Need to be expert and understand well about Bitcoin before teaching to the other, I know with your good decision how to make the other earn profit trough bitcoin investment but you have know both side between positive and negative from Bitcoin. When your friend or neighbors  investing in Bitcoin they have understand well about risk and don't promising about profit only when investing in Bitcoin.

If you are afraid of taking responsibility for a failed investment attempt of the person who you informed about Bitcoin then never force or convince them to invest in Bitcoin.  It is ok to inform them about Bitcoin and even lecture or educate them about the beauty of getting involved with the Bitcoin Industry but never ever force them to spend money to invest in Bitcoin.  They should do the investment on their own accord.  If they are hesitant about diving into the Bitcoin industry then let them be.  It is their loss, not yours.


One should be able to differentiate legit investment programs from scams and fraud.  Not all investment programs are bad, there are much legit investment programs out there.  So generalizing that all investment program is bad is wrong, IMHO.  From the definition,

I don't think ever tell about investing to people who don't know because basically investing is profitable for a beginner so just give an explanation about bitcoin and how it works and its uses but the rest they will invest or not it's up to them and let them understand first rather than talking about direct investment.
It won't get any danger or pressure

There are no investment programs that are good, let alone offer high profits, it's quite clear that this is a fraud to attract a lot of attention, especially beginners who are new to bitcoin, and well, bitcoin is always associated with things like this, even though we are clear that bitcoin does not involve any investment unless we start it ourselves. his.

In essence, never involve other people's money for any offer, just buy and hold it is the best for us to start long-term investing in bitcoin but the rest if there is a program from a company offering investment in bitcoin it is clear he will start with his fraudulent actions .

We must give them advice not to fall into that trap and not be tempted by high ROI gains.

Hai OP, you has good intentions, but you also have to know your limits before you explain to the people around you about Bitcoin.
In my opinion, there is no need to rush to introduce cryptocurrency or Bitcoin, especially to the wider community, if you are still a beginner and don't understand or don't have enough knowledge about it.
If you realize that you are still a beginner, then you must increase your knowledge first so that there are no misunderstandings from your explanation later to the public.
You better focus on learning more and maybe also take the time to prepare a good plan and strategy to be able to teach or introduce Bitcoin to the wider community.
Before trying it out to the wider community, you might be able to start with your closest family. From your experience introducing Bitcoin to those closest to you, then you can evaluate what is still lacking.
Good luck for you OP, and keep it up.

Advise them don't join any investment program from any company, group because it can be scam and Ponzi.

Bitcoin is available for them to buy it and hold it as their own investment. They don't need to join any investment program with high promised profit. Investment has risk, risk of loss and if any program guarantees you about profit, you should smell a scam attempt.

However, people want to have profit, guaranteed profit and they don't want to have risk. Unfortunately, with this mind, they choose to join Ponzi program and get scammed.

You can tell them about investing in bitcoins but give a more detailed explanation and don't forget to tell them that bitcoins are not related to any investment program. Holding bitcoins means they are investing for the long term and they don't have to worry about being scammed because every time they buy bitcoins, they can send it directly to another personal wallet. You must tell them to store the bitcoins in other wallets and not store them on exchanges because it's not always secure.

Indeed, so far, many people have offered to invest in one program and they use bitcoin to attract the attention of those people. And when the investment program doesn't go well, they immediately blame bitcoin even though bitcoin has nothing to do with that investment program. This is where you can explain that such a program is just a scam and tell them always to be careful if someone asks them to invest like that.

What you gonna do about spreading bitcoin in the community was good, but a lot of bad things on the news that is way there are some people that have skepticism mind about bitcoin Big news like CNN or CNBC only shows about All Time High but after that, the bad news is populated the mind.

Back then in my area only me who know about crypto in school maybe just a few people, some of my friends try it and then go the one reason is neither they got scammed nor they lost money because of trading or the bear market comes. Till this date I don't have a right formula to make stay in this industry and even myself already left crypto couple of year ago even to right now I'm comeback.

You have already mentioned that you are a newbie in the world of Bitcoin, and you haven't mastered it yet; how could you spread the knowledge about it to your community if you haven't mastered it yourself? If you still want them to know about Bitcoin then you should teach them the basics of Bitcoin, like its Limited supply, usage, community, and current value. Also, teach them the risks involved.

You should also inform them about Bitcoin's volatility and show them the history of Bitcoin prices. First, give them proper knowledge about Bitcoin and make them aware of those fraudsters. It would also be great if you teach them how to invest in it and, simultaneously, teach them to learn as much about Bitcoin as possible before putting the money into it. That way, you will be on the safe side, and you have promoted awareness about Bitcoin in your community.

By introducing Bitcoin to those who don't know about it, you are walking on a tight rope. You need to include disclaimers when you talk about it. You also need to make sure that you aren't providing any sort of guarantees. If you are recommending it as an investment, express that it is a long-term investment that is highly volatile in the short term and provide all of the information that proves Bitcoin's technical infrastructure (proof of work, the blockchain) and use case (digital cash, store of value, hedge against inflation, limited supply etc). Also make sure that you aware anyone who is considering to invest in Bitcoin after you talk with them to ensure that they are well-versed in both non-custodial wallet solutions and that their security is ideal enough to not lose their coins from hacks/viruses/system compromise.

As long as you follow the above and aren't providing any guarantees, creating unrealistic short-term expectations and/or holding any Bitcoin on behalf of anyone else, then you shouldn't feel worried about recommending people to diversify some of their investment portfolio into Bitcoin.

That is an assumption from you. The fact that others are not vocal about their involvement or lack of in bitcoin does not mean you are the only one into it in your local community. Others may be keeping a low profile cause of the tendency of people to associate bitcoin and assets in general to wealth, making them a target.

As a newbie why not introduce anyone interested to where you learn from, which is the forum in this case?
They would do more independent learning and you are not responsible for anyone's investment.

- Jay -

I guess it's better for you if you are not going to tell anyone in your neighbors about your bitcoin investment. It's not that you are going to hide it from them or you are doing illicit activities. It's just anyone has it's connotation what bitcoin is, unfortunately, there are people who still doesn't believed or call bitcoin as a scam investment.

And if by chance you gain financial freedom because of your bitcoin investment, then so be it. Let's them salivate on your success, you don't need to brag as well. Just keep a low profile, that's it.

From your post it's obvious you ain't yet grounded in the knowledge of bitcoin technology still a newbie how and what then do you intends to explain to them. You can't give what you don't have. So channel that energy to developing your knowledge and experience about bitcoin, let the benefits be evidence on you apparently to their eyes only then can they be easily convinced. Don't go putting yourself in danger mate!

Mastering Bitcoin
https://github.com/bitcoinbook/bitcoinbook

How to earn Bitcoins (by Lauda) https://bitcointalksearch.org/topic/general-how-to-earn-bitcoins-1629118



Yes you will definitely get into dangerous financial trouble if you do such . And you would end up becoming an enemy and not as a neighbor or friend  anymore.

Imo the smartest play here is keeping your mouth shut about anything that's about money. Nobody needs to know how much money you got. Notice that, I said "money", I didn't even mention bitcoin. You don't need to give investment advice to your close friends because like you said if anything goes bad, they will blame you. Why take the risk? Since they don't have the same experience you have, everything they do can go wrong. They may lose their private keys, they may install trojans, make bad trades, in the end they will blame you for everything happened.

Newbies giving investments advice to others often turns out with a bad result. I'll advise that you just talk to the people about bitcoin usage, benefits of using bitcoin and also the possible disadvantages of using or investing in Bitcoin.
Give them resources that summarise everything that they need to know about bitcoin and if they're interested in the technology then they can proceed to buy some.
I have never been a fan of helping others invest in anything the fact that something could go wrong at any point in time just scares me and could also turn the good you wanted to do into something else.

Op, just try to write down the pros and cons of what you're about to so, if you feel the pros are far more greater than the cons you can proceed but if you feel the cons are things you won't be able to handle then I'll advice you look for other means to keep creating awareness without put hung yourself at risk.

Agreed, the OP would have to make it clear that the information given is an introduction
to Bitcoin and the benefits it offers to everyone.

The OP would have to make sure they can make it very simple for other people to understand
and be able to explain all the questions those people will have.

There may also be a need for the OP to explain the FIAT system, a lot of people only see the
money in their pockets and accounts but dont know the wider details of FIAT banking system.

Happy easter mate, it would actually be a good idea telling them about Bitcoin and investment.
 
I don't think it would be a problem, for now since it's their first time knowing about Bitcoin, you should just start with the basics. Try educating them on how it works, the importance and what Bitcoin or cryptocurrencies can do for them. Don't rush them into investment and advice them not to invest now until they have fully understood how the whole system works. When you then see that they are fully ready to take the risk then you should stand again as a guide for them so they wouldn't loss their capitals. if everything goes well, then I think you just made your self a Bitcoin literate community.

I don’t think you should be giving others financial advice because you then assume the position of financial expert which you’re not. If you want to save your neighbors from falling into the hands of scammers, do not talk about investments or profits, you should teach them what bitcoin really is, some people will listen, some would prefer to give their money to a third party to double their investment but you will helping a lot more people this way.

You will not be in danger if you only introduce Bitcoin and not invest in Bitcoin on behalf of those people.

They have money, listen to your speech, feel believing in Bitcoin, and decide to invest in Bitcoin. It's their responsibility with their decision, action and result of their investment.

However, it can be different and turn to be your responsibility of you use their money, invest in Bitcoin on behalf of them, because they don't want to practice how to buy, store bitcoin. You will take all responsibility and risk if you do that.

Good day and a happy easter to everyone, this is a wonderful time we all have to celebrate but as we all celebrate easter please I want to ask a question that will help me and also improve the bitcoin speculation and adoption in our society

I believe that in my local community, I am the only person that gone so far on Bitcoin and I also want to spread the news about Bitcoin to my neighbors or my friends.
So as a newbie I am, can I tell people about Bitcoin or will I get into danger if I introduce people to Bitcoin investment and they lost their little capital?

The main purpose why am asking this question is because some of these fraudsters are using Bitcoin payment to collect people's money and plenty of our citizens who don't know much about Bitcoin and how it works are very much afraid to do anything concerning Bitcoin investments.
So because of these issues hope I won't into trouble for telling my naibours about Bitcoin investments.