Topic: How to get your Dad (or Mom) to buy Bitcoin? - page 2. (Read 1931 times)

My parents are octogenarians.  While mom is extremely computer literate, she is so financially conservative that she considers S&P 500 Index Funds too risky.
She is willing to invest, but only when the funds in her savings account exceed six figures. Bitcoin is out of the question.  😂🤣😅

Most mothers and fathers have not evolved so much in the computer and internet age that they have very little spiritual knowledge about it. Most of the elders in the area where I live know very little about bitcoin and have no knowledge and experience about it. But I think that since we have learned a lot about Bitcoin and are interested in learning more in the future, the next generation who will come will certainly gain more knowledge about Bitcoin. But I don't think today's bullies will see the positive side of Bitcoin and buy it because they mostly trust only gold and money. Anyway, if I ask my parents to buy Bitcoin, they will definitely not face it, they never know much about Bitcoin and they will not be interested in investing in Bitcoin, because they don't know anything about it.

That exactly is one of the main reasons why most parents are not involved in Bitcoin, they're not used to modern technologies, especially those in the third world countries that are born in the 50's and 60's most were from poor families that couldn't afford quality education and managed to achieve wealth through farming, trading of farm crops at large. I think it won't be very easy to convince such people about Bitcoin cause all their life they've been used to fiat most of them even can't even operate smart phones not to talk of understanding the Bitcoin blockchain technology, so the simplest way I could think of convincing such people is by your success in Bitcoin and when they're convinced enough they could be willing to learn or even give you funds as their child to invest for them using Bitcoin. Also, using plastic cards with Bitcoin, like the (ATM card) for the future is a very good idea, I have an uncle who fall under the category of not being able to operate smart phones or desktop but can make use of his ATM card perfectly, so such idea would further make him consider Bitcoin.

My parents also have very poor computer skills, but in the future they will all be able to use Bitcoin. How will this happen?
It's simple. The fact is that using Bitcoin can be done through plastic cards, as is now done with Visa technology - bank payments and sending money. 
We just need someone to figure out how to simplify this, so that pensioners don’t even think about transactions, and everything happens as simply as with plastic cards.

If they are not interested in it in the first place, then there is no need to force them to invest in bitcoin, let alone to the point of making them sell their assets and promise high profits from it. Because investing in bitcoin has risks and you don't know when the market will be bearish, it could be that after you buy bitcoin for them suddenly the value of your assets drops, then the one who will be blamed is you who told them how to invest in bitcoin.

Give them basic knowledge about bitcoin, the risks when they invest in it, and tips for minimizing losses, if they are sure then you have succeeded in convincing them to invest in bitcoin. However, if from the start they are doubtful and unsure, there is no need to force them, because in the end, when the investment does not go according to their expectations, you will bear the risk.

Actually, just by chatting with them and explaining what Bitcoin is, it’s usually enough to get them interested in buying it. But we also need to provide concrete examples of its benefits. For instance, we can show how Bitcoin can be a profitable investment tool by sharing data on its value increase over time. Plus, discussing the ease of transactions offered by Bitcoin is really appealing. A lot of people still think buying stuff online with digital currency is complicated, but it’s not at all. We can illustrate how quick and secure the purchasing process is, without needing to involve banks or third parties. This is a benefit that can’t be overlooked, especially in this digital age. By doing this, they’ll feel more confident to try it out and invest in Bitcoin. So, let’s keep this discussion going and guide them to understand the great potential of this digital currency.

It's tough to teach or encourage parents to buy and save Bitcoin because they often feel hesitant and concerned about the huge price swings. They're more comfortable with traditional methods like saving in a bank or buying gold since those are proven to be safe and stable. Plus, a lot of them don't really understand the technology and the concept of cryptocurrency, making it hard for them to grasp the benefits and long-term potential of this kind of investment.

Many parents also think Bitcoin is just a temporary trend or even a scam, so they're reluctant to give it a try. The growing negative news about cryptocurrency in the media adds to their uncertainty.

However, if they could see how quickly the financial world is changing and how important it is to adapt to the times, they might be more open to trying new methods, including saving in Bitcoin. Of course, it takes a patient and educational approach to help them understand the advantages and the risks that come with it.

My mother doesn't know how to use a computer and has never used one. She also doesn't know what Bitcoin is.

Hello colleagues,

I share the criticisms of this post on the length and depth as disadvantages to bring our parents and friends closer to all that Bitcoin entails.

I think the title of the post also does not live up to the message that is really being elaborated. Rather than trying to convince your parents to buy Bitcoin, it is a guide, quite decent, by the way, on how some basic aspects of this protocol work as well as to answer the most typical questions that may arise to anyone approaching Bitcoin.

In short, on the one hand I congratulate the colleague for his effort to summarise and compile some of the most central issues of the protocol; and on the other hand I encourage him to find other more didactic and attractive methods that help us to bring down to earth difficult concepts and close the huge knowledge gap that separates this technology from the vast majority and prevents its democratisation.



To say goodbye to my first intervention in this forum, a personal anecdote about my attempt to explain Bitcoin to my parents:

On a trip on the way to spend a few days at the beach, and sharing several hours with them in the car, I decided to raise the discussion about whether or not Bitcoin is something valuable and interesting. On those terms I raised it and half jokingly, half seriously, I put them on notice that we would be listening to a podcast about Bitcoin for them to judge whether they found it interesting. The podcast was quite didactic, in the form of an interview and, although long (two hours), quite entertaining (they manage to listen around a half of it, with good interest and asking questions).

To my surprise, they were both curious to listen to the content of the podcast. My parents are elderly .... so I was even more surprised by the pertinent questions they were asking and, for my part, I stopped the podcast where I felt it was necessary to clarify. They were sceptical but curious. And, although they didn't end up buying Bitcoin (as far as I know  ) I think that at least I have made them sceptical about the official versions of (it's a scam, it has no value, it's smoke, it pollutes, etc.). And that alone, without trying to sell them anything, or convince them of anything (just inform and clarify to the best of my knowledge) gives me a lot of satisfaction.

I think this attitude is healthier for everyone in the way of living and sharing our experience in ‘the rabbit hole’ than the cryptobro evangelist mode.

Greetings to all.




Crypto Libertas
[email protected]

Because in the end we have to realize that when they reach the age of 50 or so they actually only have to behave in learning not to do because after all bitcoin is for the long term and with their age I think it is difficult to do it even though it is still possible if the desire is very high.

When someone has entered the period for retirement (in my country the retirement period is 50-57 years old) I think they should have enjoyed their old age by living comfortably with the results of the hard work they have collected and not trying a new thing because after all, in bitcoin it cannot be today we make a purchase and tomorrow get a huge profit because there must be a process that must be followed and it takes a long time.

Forcing someone to invest in bitcoin is not the best way to start up bitcoin investment. When introducing bitcoin to someone that have no knowledge about to invest,  before proceeding telling the person to invest bitcoin what needs to be considered first is if the person is willing to invest or have interest in bitcoin.  It will be a total waste of time and fund trying to convince someone that doesn't have interest for bitcoin. Bitcoin is a volatile asset that if we succeed in bringing it close to people and they do not have the interest to know more about it, it is possible they may likely lose which will be a big regret.

When trying to introduce bitcoin to people the goal should not just be to only invest but to also try best for them to have better knowledge about Bitcoin .

Right? I remember my mom just asked me recently about the "10k win" they saw when she accidentally tap an ad on social media about a roulette and ask me how to withdraw it coz she "won". I told her that it's a scam and/or probably a marketing strategy to lure you to the gambling platform, so she better ignore it.

Imagine she can't tell if what she saw if legit or not just got carried away on excitement on the "win" she saw. How much more about this kind of tech and investment, my mom at +50 cannot cope on such thing like trading probably if the price dumps and scams everywhere.

We're still early, to be honest. Those that have joined the market and invest to Bitcoin now might think they're all late, no you are still early if you're going to stay. And if you want to convince your parents, be good to them, be a good kid so that you'll be able to ask them any favors that you want to. But if you're asking them huge amount of money, you better be serious to talk to them with all of what OP has said, not literally all but the basics of it and how Bitcoin really works. Our parents if they've got a good educational background are unlikely to believe you but giving them references to read, that can be a good headstart.

But you don't expect them to be as flexible as we are because we're already investors and have been here for so long. It takes time for one to understand the concepts of Bitcoin when there's no tangible thing that they can hold as an asset compared to the traditional one for which soon, they will understand that why we're into it and how important it is that this Bitcoin thing is one of the greatest asset and you're longing for them to start having one or DCA.

Keeping them in the know is the best form of defense against the bad time when it happens, since you said that you invest in Bitcoin with your father income, that means he has a target for that investment even though he may not mention it to you or seems to be bordering you with some questions, most times, Bitcoin investment for the elderly is a retirement plans since when you talk about Bitcoin to them, you always say that Bitcoin is best for long term investment, so their expectations won't be in the now, even as illiterate as your mum, she will definitely be aware of the Bitcoin transaction between you and your dad.
You Helium have done well in this situation, and keep educating your parent on the need to securely store they Bitcoin in a privately own wallet and not disclose their wallet security to anyone else.

Many times I have heard that there's a way you do a right thing wrongly and it will fail to the get the attraction and appraisal it ought to have received. And from what I see about the op it's exactly what played out with what I read from members comments about the lengthiness of his post.

Now about the op message, I don't know how old his parents may be, but for mine I don't think they would be interested in bitcoin at their age, I'll rather divert that energy to the younger generation because bitcoin is for the future and it's the next generation that needs a deep understanding of it use-case more than any other. However, I don't know if it's still advisable to convince people about investing in bitcoin without them showing a first-mover-interest to know what exactly this bitcoin they have been hearing about really is.

Making someone deals up on something that they havent been able to experience before would really be leading into that kind of hesitance and skeptical about it specially into our parents or those older people.
They would really be that definitely stick into those things which does give out assurance. Usually people who are on higher age does really stick into something which is traditional or something that they do know
to be safe, on which at the time or moment that they do hear out something new or things that they havent been able to encounter yet then this is where they would really be making out those introductions or recommendations on which it would really be that mostly be that rejected or be ignored but just like on what you have said that this thing wont really be enough for you to be completely stopped or would really be
that easily giving up. Sharing up opportunity on how Bitcoin could really be that beneficial in terms of those potential earning opportunities then it would might them get convinced and would really be
trying out to look back and check on things. Actually this would really be just that depending into your own approach.

Yeah, for anyone to invest on Bitcoin it must have to with personal conviction and decision and not just because it is what every one else is doing or talking about, but it is normal to show anyone an insight of what Bitcoin is but investing on it should come from their own decision, that way they can be able to make an informed decisions as regards to working towards achieving a successful investment, the pyramid post from the op is quite too lengthy, it could have been more like a concise brief summary of what Bitcoin entails rather than such a lengthy post.

Not everyone gets Bitcoin. Its like teaching your grandmother TikTok. Priorities differ by generation. But we dont quit. We need to be smarter. Start by understanding their perspective. The majority of parents seek security. A safe future for their children. Enter Bitcoin. Its superior digital gold. Big governments cant take it. Freedom, people.

Therefore, speak their language. Simple explanation. "Its like putting money in a safe that only you have the key to." Show them the advantages. Not just getting rich quick. The goal is wealth preservation and legacy. It takes time. It takes time. They must be believed. You have smart parents. Their only need is some advice from an expert. You can get them there with some understanding and common sense.

My parents know about me from long time but they never hold me accountable for my work. My father is an expatriate and from his monthly remittance I invest a fixed portion in Bitcoin every month. Even though my mother knows this but she never asks me anything about it as my mother is not educated enough.  But my parents support me in my work. That's why I don't do any work without the support of my parents.  But I have invested in Bitcoin with my parents' consent, in this case my parents will not blame me in this matter even if there is loss instead of profit in future.

A conscious person should know that where there is no risk there is no opportunity and should not hesitate to invest properly following it. So if your parents inspired you to invest in Bitcoin then I believe they will not be disappointed or resentful of your investment and current price. Because the value of Bitcoin is increasing again.