How to get your Dad (or Mom) to buy Bitcoin? - page 6.

Roseline492

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Quote from: Rabbitqt on May 04, 2024, 07:13:38 AM

Recommendations of any investment assets are always risky, especially when dealing with family members. This risk is amplified with cryptocurrencies, considering that the majority of people don't understand that you can easily lose 80% of the value within a single bear market. And guess who gets the blame?

Indeed recommending someone into Bitcoin is risky but however I think it will be more better to recommend family
members than outsider reason because family members knows you very well on what you can do or what you cannot do because if for instance you introduced an outsider to invest on Bitcoin and eventually he decided to use his investment for trading and based on how volatile the market is he lost all his investment there is a chance that he may come after you thinking that you lured him into something that would consume all his money.

But however in terms of family member no matter how the investment turn out they will only feel bad but they can never come against you because they know the person is not capable of luring them into something that's not real, so family is more advisable in terms of recommendation but however the person should be able to educate them concerning the risk involves while investing because I realized that one of the reasons why most people get into trouble with the people they recommend was actually lack of orientation they never informed them on the possible risk associated on the investment.

Dr.Osh

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I think parents who aren't interested in Bitcoin won't read what you wrote because they basically don't like it. After all, if my parents had no interest in bitcoin, then it wouldn't be a problem. I'll just try to grow the investment myself, and make them proud. However, I think if our parents are old enough, and don't understand things like this, then I will let them be happy with what they like. Meanwhile, I will try to utilize what I know about this investment.

Woodie

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Quote from: Rabbitqt on May 04, 2024, 07:13:38 AM

Recommendations of any investment assets are always risky, especially when dealing with family members. This risk is amplified with cryptocurrencies, considering that the majority of people don't understand that you can easily lose 80% of the value within a single bear market. And guess who gets the blame?

Totally agree with you!!

And in the world of business, the code says don't mix business with friends and family because this is usually your weak point and you wouldn't have a clear mind to make a sound decision and worse off giving parents Roll Eyes

financial advice where they need to take their moñey, comeon Undecided

Bitcoin investments are usually long term if you are a hodler, and I think parents are the wrong target market afaik, instead invest for the younger generation say your kids, younger nephews & niece's or yourself as the profits will be enjoyed in the future when price and Bitcoin demand grows...let parents enjoy their peacea and money without any drama 😅 Cool

moneystery

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i don't have much time to read the entire text, but believe me, convincing your parents to buy bitcoin is very difficult, even i had a very hard time explaining what bitcoin is to them. from my experience, they will say that bitcoin is the same as a ponzi scheme and i should stay away from it. i don't know why they find it so hard to trust bitcoin, but it seems to be because they are an older generation and their experience of being scammed by one of the ponzi scheme products may be the reason for that. so right now i prefer not to discuss bitcoin with anyone, because i'm too lazy to have to fight their arguments.

kotajikikox

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Quote from: teamsherry on May 25, 2024, 02:32:33 PM

Indeed quite a long text you have written here, I'll rather say its quite impressive that you want to explain what bitcoin is point to point to your old dad, I would hardly believe that he would last more than 5 minutes listening to you

Anyone regardless of their age would lose focus and start drifting away if they are not interested in the topic. Our parents, not wanting to feel 'inferior' with knowledge, tend to reject any new knowledge. They don't want to bother themselves with something as hard and complex as the internet.

Quote

or rather get ready for a while lot of questions to be thrown at you, anyway it's good post you made and that's fact.

It's better to ask questions than pretend that they actually understand it and make wrong decisions afterwards.

Briankimp1

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Quote from: Casdinyard on May 27, 2024, 12:30:01 PM

Quote from: HideYourKeys on May 04, 2024, 03:08:32 AM

~snip~

See this shit? this is why you don't convince your parents or relatives to buy cryptocurrencies.

If they already have the knowledge and a budding interest to buy crypto in the first place, that's the only sensible time you could teach them and convince them to buy crypto, whether it's bitcoin or not. If that wasn't the case, keep your mouth shut and just work for yourself.

The thing is, these people are going to be in it for the money, they don't have the time nor the interest to know more about how it works, or why it's going up and down, heck, they wouldn't even bat an eye as long as it continues to give them money.

Just shut up about crypto during family dinners so you don't up the disgusting crypto bro that everyone hates during reunions. That's it.

It’s as simple as this do not convince your relatives to buy crypto currencies, I for one made the same mistake my sister overheard I and my boys on an overextended discussion about Bitcoin, how much profit we made on the first quarter of the year and how we were going to improve on the second quarter. She was so intrigued that she asked me to teach her how to go about it all after I did she begged me to just take her money and just invest for her worst mistake ever on my crypto journey.

fauzan Ichsan

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Quote from: leonair on May 26, 2024, 05:14:46 AM

Quote from: teamsherry on May 25, 2024, 02:32:33 PM

Indeed quite a long text you have written here, I'll rather say its quite impressive that you want to explain what bitcoin is point to point to your old dad, I would hardly believe that he would last more than 5 minutes listening to you or rather get ready for a while lot of questions to be thrown at you, anyway it's good post you made and that's fact.

Convincing old dad about Bitcoin is not an easy task. It is a very difficult task because they are not used to using the current technology or resources due to which they will consider it too risky. they cannot be convinced of how strong Bitcoin is. Because of this they will be very afraid to invest in Bitcoin. So it is better to explain Bitcoin to the next generation than to the old father. Then they can use the bitcoins you leave behind after you die

For parents, especially those who still have conventional thinking, it is not easy to convince them to invest in Bitcoin. If they can understand and decide to invest, then regardless of their personal awareness and knowledge, we can only support them, not tell them to. However, this investment contains risks, and it is not good to force people to agree with us, after all, everyone certainly has a specialty in their own field, not just Bitcoin, a place to invest.

Casdinyard

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Quote from: HideYourKeys on May 04, 2024, 03:08:32 AM

~snip~

See this shit? this is why you don't convince your parents or relatives to buy cryptocurrencies.

If they already have the knowledge and a budding interest to buy crypto in the first place, that's the only sensible time you could teach them and convince them to buy crypto, whether it's bitcoin or not. If that wasn't the case, keep your mouth shut and just work for yourself.

The thing is, these people are going to be in it for the money, they don't have the time nor the interest to know more about how it works, or why it's going up and down, heck, they wouldn't even bat an eye as long as it continues to give them money.

Just shut up about crypto during family dinners so you don't up the disgusting crypto bro that everyone hates during reunions. That's it.

HideYourKeys

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Quote from: BITCOIN4X on May 24, 2024, 03:36:42 AM

Quote from: HideYourKeys on May 22, 2024, 03:52:04 PM

I did not expect this thread to get this popular!! I have re-written the OP; to make it shorter and clearer. I am currently in the process of orange-pilling two friends, I will let you guys know the results Wink

Forcing others to invest in anything they don't understand is never good. Bitcoin investment is never the same as investing in other physical assets such as gold, land or property, so apart from having to teach them the basics of investment, you also have to teach them how to secure their wallets and assets.

Nothing should be forced and I don't think you are responsible for someone else's financial future which should be your own responsibility. Of course you can tell anyone about good investment choices, but don't be responsible for any decisions that shouldn't be yours. The point I want to say is, don't force other people to invest, but you can tell them which investment assets are good and have potential. Let them learn, but you can also be a mentor without having to be responsible for whatever happens to them in the future.

I would not say that I am "forcing" them at all, I am just explaining them the points that I believe that are interesting, and sending them videos, books, etc... I hope that someday the idea will "click" on their minds. I just hope they do not come back in a couple of months telling me that they bought SHIB

Also, if they are walling to get into Bitcoin, I will just tell them the ways I find more interesting to get started

leonair

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Quote from: teamsherry on May 25, 2024, 02:32:33 PM

Indeed quite a long text you have written here, I'll rather say its quite impressive that you want to explain what bitcoin is point to point to your old dad, I would hardly believe that he would last more than 5 minutes listening to you or rather get ready for a while lot of questions to be thrown at you, anyway it's good post you made and that's fact.

Convincing old dad about Bitcoin is not an easy task. It is a very difficult task because they are not used to using the current technology or resources due to which they will consider it too risky. they cannot be convinced of how strong Bitcoin is. Because of this they will be very afraid to invest in Bitcoin. So it is better to explain Bitcoin to the next generation than to the old father. Then they can use the bitcoins you leave behind after you die

amihada

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if your father introduces you to bitcoin then it will be easy for you to explain the importance of investing in bitcoin but if your father does not understand about bitcoin I am very sure your father will reject your explanation or your father will ask you about complicated things you explain to your father, but I salute you because You are determined to explain Bitcoin to your father, the things you are doing right now may not be possible for other people to do. If you can explain to your father about Bitcoin, especially to your friends or other people, you will definitely be able to explain it easily.

harapan

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Quote from: jcojci on May 04, 2024, 07:11:38 AM

You can give information to your father and mother but you cannot impose your wishes on them. The decision to invest will be up to them and if they are not yet interested in investing in Bitcoin, you don't need to force them. You can just keep approaching them and show them how much Bitcoin profit you have made. But again, if they are still not interested, there is nothing you can do.

That's also what I do to people near me where I only provide information about Bitcoin. It is up to them if they want to invest in Bitcoin or not.

Decisions and choices are some of the things that carry on our lives as we grow.Mostly,the decisions we take whether good or bad affects us and the people around us in certain ways.
You're more like an agent in this case,somehow,an organization where you work needs customers and you're in charge of recruiting new members to partake/participate.You'll start inviting,instructing and successfully complete the tasks for the job.

My job as a bitcoin influencer is to lay the necessary aims,objectives and benefits that comes with investing into bitcoin,but its not in my place to determine the possibility for accepting the offer or not.
The truth is that most of our parents cannot trust thier children with financial aids/advice and they'll never yield to whatever their kids would say concerning money and investments.In order to avoid loss,regrets and disappointments,they'll rather stick to their cheap and loyal businesses.

teamsherry

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Indeed quite a long text you have written here, I'll rather say its quite impressive that you want to explain what bitcoin is point to point to your old dad, I would hardly believe that he would last more than 5 minutes listening to you or rather get ready for a while lot of questions to be thrown at you, anyway it's good post you made and that's fact.

Vaskiy

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We've got different ways to buy Bitcoin and other cryptocurrencies. First, they need to understand and accept. My parents aren't that good at technological advancement. This means they're in a state that accepts real currencies, and they find the virtual currency to be something different and hard to believe. I'll just leave it to their choice, and it is up to them to analyze, understand, and take the decision on whether to buy it or not.

Ale88

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Quote from: Mame89 on May 21, 2024, 04:50:34 PM

Quote from: mamesso on May 21, 2024, 12:59:32 PM

The age of the parents of each user who joins here is different, some are still alive and some are dead. That's the reality of life. I have parents who don't really understand technology, after all, they are now 70 years old. His eyes can no longer see normally and his hearing is starting to become impaired, it is very difficult for me to convince my parents to buy or invest in Bitcoin.
The only way I can ask them for permission to use their wealth is invested in Bitcoin, of course they don't know what Bitcoin is, but they really trust me to manage their money. My parents were able to enjoy the results of Bitcoin even though they never knew about Bitcoin, I always gave them some money and told them the money was from Bitcoin investments.

Actually, there are many ways to invite or persuade our parents to want to invest in Bitcoin, of course the choice you take is actually one of them. Because your intention from the start was to make your parents rich so they could invest in bitcoin to create financial freedom in the future. Even though your parents are very old, their eyesight is short-sighted and they can even hear, but you have the initiative to manage their finances so they can invest and the profits are given back to your parents. I think if your parents are still young, their memory and eyes are still clear, they will definitely invest in Bitcoin too.

Nobody (hopefully) would like to scam their own parents, so of course the intentions behind these type of advices are good but good intentions could not be enough. Money is always a very delicate subject, especially when we start involving our relatives, and if the parents are not used to investments there is good probability that when they start to see their investment going red, they'll either blame you or sell everything at loss. They must be mentally prepared before and you must make clear that no matter what is going to happen, they won't interfere with your money management.

kamvreto

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For me, it is easy now to explain how my parents should buy bitcoin because there is a lot of positive news about bitcoin and its benefits. My parents are also quite updated with technology and have an open mind to digest every new technology, especially regarding the increasingly popular digital asset Bitcoin. I always remind them to buy early when the price of bitcoin is still below the last high and is an opportunity to start buying and holding.

justdimin

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Quote from: BITCOIN4X on May 24, 2024, 03:36:42 AM

Quote from: HideYourKeys on May 22, 2024, 03:52:04 PM

I did not expect this thread to get this popular!! I have re-written the OP; to make it shorter and clearer. I am currently in the process of orange-pilling two friends, I will let you guys know the results Wink

Forcing others to invest in anything they don't understand is never good. Bitcoin investment is never the same as investing in other physical assets such as gold, land or property, so apart from having to teach them the basics of investment, you also have to teach them how to secure their wallets and assets.

Nothing should be forced and I don't think you are responsible for someone else's financial future which should be your own responsibility. Of course you can tell anyone about good investment choices, but don't be responsible for any decisions that shouldn't be yours. The point I want to say is, don't force other people to invest, but you can tell them which investment assets are good and have potential. Let them learn, but you can also be a mentor without having to be responsible for whatever happens to them in the future.

This is correct, I have seen a lot of people who failed to trade because they do not completely understand but they wanted to since they saw their friends making money as well. I personally believe that they are just gambling at that point because they do not understand what is going on, which is why I believe that we should just avoid making any decisions if we do not know what is going on, there is really nothing that we can do if we keep focusing on trying to make money and not focus on learning how to make that.

Bitcoin is something that has this learning curve and if you avoid that all the time and just try to make money than the result will not be all that great and you are going to regret the situation you are in quite soon afterwards.

CODE200

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I don't want to be too much of an annoyance to them so I don't really do this kind of thing with them, what worked for me is that I just showed them the results, that's it, they said that they can play the waiting game just like I did, I even warned them that it might take longer than you'd expect it to be but they still said the same thing and that would be that they want in no matter what. So far, I'm hodling the bitcoin for them safe and sound in an Electrum wallet, they don't always accumulate as there are some expenses needed to be paid but when they do, it's such a treat because I know that when they do it, they're going to really happy when the price pump starts to happen and that's all that I look forward to.

KennyR

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Most of our parents will be around 50–55 years of age. Right now, their thoughts will be about having a healthy life and a happy retirement. At this time, their minds have the fear of risking. For this reason, even those who are convinced of investing in cryptocurrency will go for a second opinion. Right now, people in the same age group who are having a conversation with our parents could easily convince them to invest in cryptocurrency. Importantly, our parents need to experience a change in the financial or lifestyle of the person convincing them. When we suggest it, they'll hear from us, but they won't take it seriously.

BITCOIN4X

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Quote from: HideYourKeys on May 22, 2024, 03:52:04 PM

I did not expect this thread to get this popular!! I have re-written the OP; to make it shorter and clearer. I am currently in the process of orange-pilling two friends, I will let you guys know the results Wink

Forcing others to invest in anything they don't understand is never good. Bitcoin investment is never the same as investing in other physical assets such as gold, land or property, so apart from having to teach them the basics of investment, you also have to teach them how to secure their wallets and assets.

Nothing should be forced and I don't think you are responsible for someone else's financial future which should be your own responsibility. Of course you can tell anyone about good investment choices, but don't be responsible for any decisions that shouldn't be yours. The point I want to say is, don't force other people to invest, but you can tell them which investment assets are good and have potential. Let them learn, but you can also be a mentor without having to be responsible for whatever happens to them in the future.

Topic: How to get your Dad (or Mom) to buy Bitcoin? - page 6. (Read 1973 times)