Topic: How to get your Dad (or Mom) to buy Bitcoin? (Read 2007 times)

In majority of the cases, the parents won't buy bitcoin if their children convince them and tell them about the advantages and future of the crypto currency. Yes, one thing can happen that after getting some knowledge from the children, the parents study themselves about bitcoin, get advice from other people including relatives and close friends and then buy bitcoin on their recommendations. Another thing that help in making the decision to buy bitcoin is the financial status of the family. If the parents do not have much money, they won't risk it in risky investments as opposed to rich parents who won't mind buying bitcoin on recommendation of their children.

I think it depends on the situation: do the parents know something about investments? Do they invest? And if they do, what type of returns did they get? Based on those questions and answer you can already get an idea whether they should at least try to listen to their kid, and listen to is different than actually doing it. I'm sure there there are kids (who grew up in the meantime) that thanks to bitcoin are way wealthier than their parents.

Would YOU listen to your kid financial advice ?  

I am in Bitcoins since 2016 but I was a kid and no one was taking me seriously. I was in video editing, was making some after effects intros and videos. I had to fake my age because no one was taking me seriously with my true age. When I was faking age, I was getting jobs online from various companies, so I was earning some money even in my childhood but at the same time I also discovered Bitcoin, registered on this forum, read a lot about it and I understood the potential of this coin. Most importantly, I understood why this coin was going to rise and was suggesting my family members to buy Bitcoin with their savings but instead of following my advice, they laughed at me and suggested me to forget Bitcoin and save money in USD. What could I do? They were my parents and I was forced to give them my money to hold USD but soon I joined signature campaigns and started earning real Bitcoins without my parents knowing about this additional income of mine. Over time, my Bitcoin savings went 10x up in 2017 and now you see where the price is soaring.
Today I amn't going to suggest anyone any investment. When I suggested it, everyone was laughing. We would be millionaires if my parents followed my advice but they refused it even in 2019 and later. I don't care about other's investments anymore and I suggest you to do the same. In the end, no one will be your grateful and in exchange you'll mostly experience mockery.

Cryptocurrency is actually complex and i also feel that it will be difficult for some of our parents to understand everything about cryptocurrency easily, from how to secure their wallets and how to understand that it is volatile and price can move in any direction. It will be hard for them to understand that they should invest only amount they can afford to lose because when they hear that bitcoin can increase their money they will only look at the profits they can make and ignore the risk and when there is losses they may be affected by it and just as you have said it could as well have effect on their health and we all know that it will be difficult for them to control their emotions.


Yeah the idea is just perfect for them investing in physical businesses will be more suitable for them rather than bitcoin investment reason being that they may not be patient enough to wait for years to hold bitcoin but with business they can see the growth of their investment and will easily be in control.

We should not force them because it will affect the health patterns they have, because the investment patterns in their time were different from the investment patterns we have today. So teaching them about investing in bitcoin will be much harder and they won’t be able to understand it well when they don’t have the skills in technology and the internet. It’s better for us to handle it and for them to just enjoy the results, after all, parents will inherit their wealth after they’re gone and what does money mean when they’re gone.

It is better for us to manage and control because letting their lives be more peaceful and comfortable in their old age is a dream. Price fluctuations will affect their health and I am sure they will never be ready to face this problem because this is not an investment step that they have ever taken before.

Especially for me, I don't have a way to explain everything to my parents because they have never known bitcoin well at all and they are even more interested in buying gold than bitcoin. So I decided never to talk about bitcoin with them and I also don't want to make their old age in a stressful state by thinking too much about money.

It's classic difference between generations and it's normally. In addition, they have different time budget left than their children, grandchildren and they must have different plans for their retirement plans till their deaths.

Some elderly will invest in Bitcoin but they will use limited part of money they have for this investment and the most money they have will go to traditional assets, gold, stocks, real estates.

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Because it will nearly not likely happen so introduce it to them is not necessary and the explanation can make them more confusing and even fearful.

You're right, Trying to get your parents on board with Bitcoin can be tougher than teaching calculus to a labradoodle.  Their financial universe revolved around assets like stocks, bonds, and real estate.  Crypto? Yeah, it's alien territory for them.

Part of me gets why just taking their money and handling the crypto yourself seems easier.  Skip trying to explain private keys or 51% attacks.  But if we don't bring them along for the ride that first 10% drop will freak them out.  Then come the frantic calls demanding you dump everything. 

I don't have all the answers yet on the best way to open their minds.  Maybe we start slow, explain the basics without all the technical jargon.  Or share stories of institutions now investing.  Patience and small steps...

At a further stage of knowledge when they are familiar with technology and the internet it will not be difficult for them to get involved in investment because they understand how. But the problem is when they are not living at all with the best abilities in our era so knowing technology and investment models like today will be much more difficult. The solution as you said they give their children the opportunity to manage and they don't need to be directly involved like us.

Because age can also determine health and thinking power so that it will affect the investment process they carry out. Parents' habits are forgetful and they are not focused on living and when forced to be involved in investment, it is feared that they will forget the important things in it.

Parents trust their children much more than other people because they know the nature of the child. Moreover, parents are also obliged to ensure that their children's lives are better, especially in financial matters. If they are willing to provide capital, then it should be managed well and not create things that are detrimental.

I don’t know why some people don’t understand simple English considering that they will find it difficult to be able coupe with investing in bitcoin because of their age and we all know how emotional bitcoin can actually make you be, this means that eventually it will affect their health because for how long will they be able to control their emotion when they are no longer young. The best thing that you can do is to advise them to invest through you as a child and then report to them than allowing them do it them self at their age.  Educating them will be a lot of work so it is better to ask for their support than allow them to invest in bitcoin.


Exactly what am saying it is better they provide the capital just that they should put the business in the hand of someone they trust, and having some to trust with money won’t be that easy, we all know the challenges people face entrusting people with their money. And if they eventually agree to provide you with capital then it will be better to manage it well.

We must also understand that their generations are different and the lives they live in investment relationships like now are also different so it will be very difficult for them to understand it. Although there are some of them who better understand investment well than us who are new to him. We are in the time of technology and maybe before they did not know that and if parents like this I was sure they would be far more difficult to educate about Bitcoin investment because to understand it would be very complicated and require time for them.

What is most likely to happen they will provide capital and say it is we who manage because of the nature of parents who want to see their children successful in financial matters. But if we force them to be involved and investment skills and technology are not mastered, then we are the same as let them lose money.

A good child must be faithful to his parents. And even then it is quite natural that they will behave very conservatively in investing in such non-physical assets. But if you can earn their loyalty and have faith in their children's work they will at least try to think about it. And at that time if they can be presented with information about cryptocurrency or bitcoin they can be enticed to invest or encourage the child to invest. So we who learn to behave modestly in our life and achieve success in good deeds will succeed in attracting the attention of parents in this regard.

I don't tell people what shit got cancelled. Is that an obvious flaw?

The whine is fine. Punctum. You never meant to blow up the world. I know.

Give them a cd with thievery cooperation.

PS. I tell you how to split your coins in to billions if you need it. Any time.

Well to me it will be very nice to share the beauty of bitcoin to your love ones , because this is something that's going to help In a long run and I think when telling them about the beauty of bitcoin also tell them about the risk in it because there's no investment without any risk . By telling them that the market can be highly volatile sometimes and there are going to be alot of up and down movement in the market. So after enlightened them , is left for them to decide because we are know we can force anyone to invest in bitcoin, so if by any chances they endup having an interest in it is left for you to put them through, so that they won't endup Messing with their Bitcoin investment.

Whatever the reason or even if our parents are computer literate, introducing bitcoin to them is not a good idea. Our parents are both old and won't even have much time left with us, so what's the benefit of teaching them about bitcoin? I think we should stop trying to teach our parents about bitcoin, especially encouraging them to invest in it. That won't bring them any benefit and will even make them age faster if they can't withstand bitcoin's volatility.

If we really want to be good for our parents, we should take care of them and support them with the money we earn. I don't know what your parents need, but what my parents need is to rest, have fun with their children and grandchildren every day, and no longer need too much money at their age. So see what they want and give it to them instead of forcing something they don't like.

Obviously this is a little strange, how can you be without a wallet on your cellphone and also the address, while that is what is needed as a tool to do it, anyways with elderly people only a few understand and they use more bank cards because it has been understood since long ago.

Actually, using crypto is now quite easy on their cellphones, just use a wallet application that is simple for them to understand and they can transfer crypto with a qris scan.
So for me it's quite simple, although it will be a little bit difficult for elderly parents.

I understand that I described my thought a little confusingly.
I mean that the interface for using cryptocurrencies is difficult for people of advanced age.
We need solutions without wallets on the phone and without addresses, I understand that this sounds strange, but in order for older people to start using cryptocurrencies, their transfer and storage must be simplified so that everything is as simple as it is now with the use of plastic cards.

One of the reasons most parents do not know about Bitcoin is because they are not familiar with modern technology. Especially those born in the 70s and 80s have very little computer knowledge or knowledge about cryptocurrencies. My parents are also very old they could not pass primary school during their time only due to lack of finances which did not develop their knowledge. They don't even know about cryptocurrency or Bitcoin.
In our time we are living modern life and become very technologically skilled maybe our future generation will be more skilled and able to acquire more knowledge about Bitcoin. Our old parents and uncles could not teach us about Bitcoin but we will be able to teach our children about Bitcoin.

Your mom and dad need to relax and retire, you're a grown ass man and need to be buying Bitcoin FOR them.

Give them one of those easy watch wallets, even an app or something. Send them BTC every so soon, let them open the app and see how much it grows. They want more? Send you money, get them the coins safely. They want to learn more about how to do it themselves? You now have an eager Bitcoin user. Might take 4 years, might take longer. But there's my answer for you. You're welcome.

A little unclear on what you mean by plastic cards? Like a Visa card?

Maybe this is my own understanding, if bitcoin will have a card like Visa then this will be a little difficult where for bitcoin transactions there must be internet even though it is now very easy to do that, some parents still have difficulty understanding it.