I managed to convince my senior dad to invest in BTC - page 2.

Mate2237

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Quote from: mocacinno on March 07, 2023, 05:58:51 AM

I would never try to convince anybody... I'm a big crypto enthusiast, but i still consider crypto a high risk investment... I wouldn't want to be responsible if they'd lose their funds.

On the other hand, if they'd made up their own mind and just asked me for assistance, i would gladly help them out

exactly, convincing someone to invest on Crypto is the big mistake I will never make or do. Some people that convinced cryptocurrency (bitcoin) to their friends, wife, children, mother, husband etc does not really understand the risk involve in it they too are time unaware of the whole process, that is how cryptocurrency work, they only know that cryptocurrency investment is good and profitable. Yes it is profitable but when you lost, ehn! You might lost everything you have laboured for years. So always use risk management mindset to deal with bitcoin before introduce it to someone. And also, always know whom you are convincing, if you convinced someone that is not polite, and his funds got lost. Op at that time you would understand why it is not not good to convince someone to deal with crypto.

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If an elderly person is not at all educated, explaining Bitcoin to them can be challenging. But it appears that you were ultimately convinced. The existence of cryptocurrencies in the virtual world is something my father is aware of, without having much knowledge of it. He cannot use Bitcoin, despite his best intentions, because he is not literate. Nonetheless, he consistently motivates me to use cryptocurrency and ahead with technology, shouldn't stay backdated. Being inspired by my parents has therefore been really helpful to me.

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Quote from: mocacinno on March 07, 2023, 05:58:51 AM

I would never try to convince anybody... I'm a big crypto enthusiast, but i still consider crypto a high risk investment... I wouldn't want to be responsible if they'd lose their funds.

On the other hand, if they'd made up their own mind and just asked me for assistance, i would gladly help them out

Same with my POV. I would never crossed the line and convince other people to invest into bitcoin, even if they are my close relatives or family members. Bitcoin has a lot of risks, and anyone who will only invest for its quick profits will never be good enough into bitcoin investment. They can always ask me how bitcoin works and how we can profit from it, it’s up to them if they will invest on it or not.

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Quote from: CryptoHeadlineNews on March 08, 2023, 03:10:00 PM

Trying to convince someone to buy Bitcoin is just like trying to force someone, of which if anything happens to go wrong you are likely to be held responsible, because Bitcoin as an asset is not what you try to convince people to buy, but rather educate people about this new digital decentralized currency, as it has got its merit and demerits. I.e, how it works, how to store it and the most secure place to buy it without being scam for whoever happens to be interested in it.

So I can't convince anyone to buy Bitcoin, but I will be fully glad to assist anyone to the very best of my ability

The reason why I don’t really convince other people to invest in bitcoin knowing they will eventually put the blame on me once their investments did not work out in the end. I’m open for teaching them if they want to learn and be educated, but convincing them to take the risk and enter bitcoin investment, that’s another story. Even my mother and father are aware that I am into bitcoin, but it never crossed my mind to convince them because I know they won’t also take the risk.

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Quote from: virasog on March 08, 2023, 11:11:29 AM

Quote from: DatBTCGuy on March 07, 2023, 05:24:54 AM

Did you manage to convince your dads or other older people in your family to buy BTC?

You really did a good job in convincing your father, because it is very hard to convince people about bitcoin because they are traditional and do not want to adopt new changes in the world.
Also, it is not very easy to understand bitcoin and how does it work. I hope you will tell your dad on how to secure your wallet and other stuff so he does not lose this 0.01 BTC. I do hope he buys more as this might be the best time to invest in bitcoin.

Yeah, majority of mature people grow up without these latest technologies but if we look around us, many of them are now using computers and smartphones and use the latest app/software in it. So, if they are able to learn it, why not Bitcoin? You only think Bitcoin is hard but it wasn't actually.

The people who are not willing to adapt to the new changes are the ones who stick on the basic life (e.g no smartphones, computers, and other latest gadgets. These are the types of people that we shouldn't bother talking with Bitcoin because we will only waste our time on them and worse is we are going to be hated by these people because they will be annoyed with us and to the topic that we are discussing.

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Quote from: Tazzy4050 on March 09, 2023, 08:47:23 PM

I managed to convince my senior dad to invest in BTC by explaining that it was the future. He read up on the topic and decided to buy some for me as a gift.

I promised him that in three years, he will be a millionaire.

I managed to convince my senior dad to invest in BTC because it has positive characteristics: cheap, stable and technology-oriented. The price of Bitcoin is now higher than the price of gold. This is evidence that Bitcoins are becoming more popular, especially among young people who have no access to banking. I am surprised that senior citizens still don't know about this opportunity.

If you need to spread the word, I’m here for you.

This is like just sweet talking someone to do something, but the fact is that most your contents are not correct the fact that they invest in Bitcoin today won't make them millionaire in the next three years, you never can tell what's going to happen tomorrow so you promising that kind of profit feels somehow to me.

And again you just spoke to them concerning the benefits, they could get if they invest in Bitcoin without even mentioning any risk involved. Since they're planning on investing then it's right for them to learn everything about what they're about to get involved in. Hoarding anything from them might result in some misunderstanding in a distant time.

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Quote from: DatBTCGuy on March 07, 2023, 05:24:54 AM

My dad is 79 yo. He's a retired carpenter but has always been interested in technology, electronics and related stuff. Back in the 90s, when I was just kid, he bought me a computer because he knew that's where the world was headed and we learned to use it together. During the years, I developed my passion in computing and programming and I always taught him to use all the tools needed to be a good user (he even uses things like password managers and multi-factor authentication tools).

Fast forward to early 2020, just before the pandemic, I started to buy BTC and I had always told my dad about this new "digital gold". He was skeptical (he's lived most of his life with FIAT and cash after all) but curious. He thought it was too risky though.

Not sure why, but last week he finally told me he wanted to try it. So we setup his software wallet and he bought 0.01 BTC. Not sure if he'll buy more, but I can certainly say I'm proud of him!

Did you manage to convince your dads or other older people in your family to buy BTC?

Not my dad specifically, but I was able to persuade people to buy bitcoin when it crashed last year because I believed that was the best opportunity for them to do so and reap the rewards when the price has gone up in the future. Fast forward to this year, and some of them have sold and are waiting to buy again, especially now that the US is not amicable toward the entire crypto market, but regardless, it's a good time for people to buy again.
As elderly men sometimes forget as they grow old, and given how old he is, he may one day forget that you ever assisted him in purchasing bitcoin unless you remind him. I will suggest you assist your dad to store the seed phrase or private keys to that bitcoin.

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Quote from: Tazzy4050 on March 09, 2023, 08:47:23 PM

I managed to convince my senior dad to invest in BTC by explaining that it was the future. He read up on the topic and decided to buy some for me as a gift.

I promised him that in three years, he will be a millionaire.

I managed to convince my senior dad to invest in BTC because it has positive characteristics: cheap, stable and technology-oriented. The price of Bitcoin is now higher than the price of gold. This is evidence that Bitcoins are becoming more popular, especially among young people who have no access to banking. I am surprised that senior citizens still don't know about this opportunity.

If you need to spread the word, I’m here for you.

It's better if you don't promise anything about returns from investing in bitcoin because we don't know when the price will return to a higher price. And if the price really doesn't come back within 3 years, he will come back to you and ask why the bitcoin price hasn't come back and you won't be able to give a satisfactory answer. You can even be mistaken for cheating by telling him to wait for 3 years without any results.

We can advise them to invest in bitcoin while providing the history of bitcoin's journey so far and let them think first and decide later. Investing in bitcoin requires faith for someone to accept bitcoin and make it a long term investment.

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Quote from: Tazzy4050 on March 09, 2023, 08:47:23 PM

I promised him that in three years, he will be a millionaire.

Did you just buy some bitcoin and think after 3 years it will make you a millionaire? It would be best if you woke up, don't be too delusional. Bitcoin is not a tool to help you become a millionaire with just a small amount of capital.

Quote from: Tazzy4050 on March 09, 2023, 08:47:23 PM

I managed to convince my senior dad to invest in BTC because it has positive characteristics: cheap, stable and technology-oriented. The price of Bitcoin is now higher than the price of gold. This is evidence that Bitcoins are becoming more popular, especially among young people who have no access to banking. I am surprised that senior citizens still don't know about this opportunity.

If you need to spread the word, I’m here for you.

I don't mean to offend you, but I recommend learning more about bitcoin before investing or giving someone advice. Bitcoin is not stable, it is the most volatile and risky investment.

Investing in bitcoin can be very profitable but can also cost you everything. Have you told your dad? It's best, to be honest with your dad about the risks it poses to him.

Tazzy4050

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I managed to convince my senior dad to invest in BTC by explaining that it was the future. He read up on the topic and decided to buy some for me as a gift.

I promised him that in three years, he will be a millionaire.

I managed to convince my senior dad to invest in BTC because it has positive characteristics: cheap, stable and technology-oriented. The price of Bitcoin is now higher than the price of gold. This is evidence that Bitcoins are becoming more popular, especially among young people who have no access to banking. I am surprised that senior citizens still don't know about this opportunity.

If you need to spread the word, I’m here for you.

pawel7777

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Quote from: MoonOfLife on March 09, 2023, 10:52:57 AM

Apart from bitcoin, all that remains is gambling and scams.

How is say Litecoin a scam and Bitcoin is not? Is LTC a scam just by virtue of not being Bitcoin?

Quote from: Bushdark on March 09, 2023, 05:04:06 PM

Whatsoever he might had taught his dad is good but he needed to make the whole process simple and very plain since is day is a old papa

People age differently, some remain intellectually sharp even in the advanced age, look at Joe Biden... just kidding, look at Warren Buffet (92y.o.) or Charlie Munger (99y.o.). At the same time, IQ and attention span are on steady decline among younger generations. As evidenced by many posts in this very thread.

But yeah, at certain age being a long-term holder is kind of pointless.

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Quote from: DatBTCGuy on March 07, 2023, 05:24:54 AM

My dad is 79 yo. He's a retired carpenter but has always been interested in technology, electronics and related stuff. Back in the 90s, when I was just kid, he bought me a computer because he knew that's where the world was headed and we learned to use it together. During the years, I developed my passion in computing and programming and I always taught him to use all the tools needed to be a good user (he even uses things like password managers and multi-factor authentication tools).

Fast forward to early 2020, just before the pandemic, I started to buy BTC and I had always told my dad about this new "digital gold". He was skeptical (he's lived most of his life with FIAT and cash after all) but curious. He thought it was too risky though.

Not sure why, but last week he finally told me he wanted to try it. So we setup his software wallet and he bought 0.01 BTC. Not sure if he'll buy more, but I can certainly say I'm proud of him!

Did you manage to convince your dads or other older people in your family to buy BTC?

Op wtriy is very weak and I smell something fishy but he may not understand for now. Whatsoever he might had taught his dad is good but he needed to make the whole process simple and very plain since is day is a old papa. I would not even bother to teach someone of that age because I know that age is closed to heaven so why would I teach and mkes you hold Bitcoin which you would finally hide your phrase and when he died no one will know how to retrieve the money in the Wallet. Ai can always tecah him for the fun but to for him to hold Bitcoin at that age.

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Quote from: mocacinno on March 07, 2023, 05:58:51 AM

I would never try to convince anybody... I'm a big crypto enthusiast, but i still consider crypto a high risk investment... I wouldn't want to be responsible if they'd lose their funds.

On the other hand, if they'd made up their own mind and just asked me for assistance, i would gladly help them out

You took this right outta my head, to be honest, I flinch when ever I read users saying they convinced this or that family member, or even co-worker to invest in crypto, particularly bitcoin, which stands out as the number one and most legitimate crypto coin out here.

With how risky I consider crypto to be, last thing I also would do is try to convince any body to invest, Infact, I feel it's even a bigger risk on an individual to convince another person to invest in crypto, as at the end of the day, the individual get all the blame for any losses incurred as a result, and however, what if there is a gain?, only a very few persons will come back to say thank you for convincing them to invest in bitcoin, at the end of the day, its not worth it at all.

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Quote from: EFS on March 08, 2023, 03:30:48 PM

Quote from: DatBTCGuy on March 07, 2023, 05:24:54 AM

Fast forward to early 2020, just before the pandemic, I started to buy BTC and I had always told my dad about this new "digital gold". He was skeptical (he's lived most of his life with FIAT and cash after all) but curious. He thought it was too risky though.

Not sure why, but last week he finally told me he wanted to try it. So we setup his software wallet and he bought 0.01 BTC. Not sure if he'll buy more, but I can certainly say I'm proud of him!

Did you manage to convince your dads or other older people in your family to buy BTC?

Congrats to you and your dad. You convinced your dad to make a purchase. Even if he's skeptical about Bitcoin, he believes in you and cared about your opinion. He probably doesn't have much financial target left for himself, all investment is for children. It's never too late to buy Bitcoin!
Over the years young or old, I told too many people about Bitcoin and got mixed reactions. In the end we shouldn't expect everyone to understand or react well.

Well, everyday is a good chance to invest in bitcoin and definitely hold it for long term as it’s more profitable that way. But I guess only crypto enthusiasts know that, as most of the people I’ve shared bitcoin before still end up hesitant with bitcoin. That’s why I want to congratulate you OP for finally seeing your dad now venturing in bitcoin as bitcoin does not matter whether you’re young or old as long as you can manage the risks investing in bitcoin. I just hope your dad will chose to be more patient than be aggressive when it comes to bitcoin profiting.

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Quote from: DatBTCGuy on March 07, 2023, 05:24:54 AM

My dad is 79 yo. He's a retired

Ahhh, I think that was literal indication you could have stopped right there and let him be on his own mate. I don’t know, everyone has their own thoughts about it and can do whatever they want but when it comes to old age people and people who are retired should be left to live their own life with their own desires. Who knows your grandpa never wanted to do that?

In addition to everything, they are 79 which means they have lived through most dramatic world that we could have ever imagined. I think I would never do that.

Quote from: DatBTCGuy on March 07, 2023, 05:24:54 AM

Did you manage to convince your dads or other older people in your family to buy BTC?

That’s gonna be big no for sure. As I explained my thoughts above, that’s enough justification as to why I wouldn’t ask someone to force into bitcoin.

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Quote from: Bestdss on March 09, 2023, 09:11:26 AM

Wow! Just wow!!
You must be a good orator and marketer to have convinced your old man to invest in crypto-currency having used Fiat much more of his life. I don't know the name of your country but if our older parents let's say from 60 yrs and above in Africa can give cryptocurrency a trial our Economy will boom but funny enough most of our youths still perceive cryptocurrency as scam.

Well you won't blame them as the rate at which people get scam around the world s very high and another factor that contribute to this thought is the lack of proper explanation and view towards cryptocurrency. Most times people often get ponzi scheme and cryptocurrency investment confuse because ponzi scheme are often platform filled with large promises of profits and most times scammers used this as a weapon coined with cryptocurrency investment and as you know humans and their greed, they usually get involved.

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Quote from: Bestdss on March 09, 2023, 09:11:26 AM

I don't know the name of your country but if our older parents let's say from 60 yrs and above in Africa can give cryptocurrency a trial our Economy will boom but funny enough most of our youths still perceive cryptocurrency as scam.

To be frankly speaking, you just need to understand that the general adoption of Bitcoin does not make a country's economy boom over night, if not countries such as "El Salvador" and "Central African Republic" who just made Bitcoin a legal tender would have been the most richest two countries by today, but yet El Salvador is ranked 119th in the entire world. And moreover, there is no age bracket to who can & who can not invest in Bitcoin, in as much as they understand the basic concepts and are willing to bear the risk. But it will be very unfair to just convince an elderly man who has no knowledge how the project works, simply because you are eager to earn a commission from an exchange affiliate

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It's such a great idea inviting people to know about cryptocurrency and the potentials it can offer to those that are into it, but on the other hand I hate being blamed for any losses someone might incur because he or she decided to invest into crypto because I told them to do so.
Be it a relative or colleague I can only introduced you to the idea of the existence of cryptocurrency but never gonna try to convince you to invest, as I don't know your plans before you decided to invest and with the volatility of the market there's much chances things might go as you had planned, so I now git caught up in the blame net.

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Quote from: DatBTCGuy on March 07, 2023, 05:24:54 AM

My dad is 79 yo. He's a retired carpenter but has always been interested in technology, electronics and related stuff. Back in the 90s, when I was just kid, he bought me a computer because he knew that's where the world was headed and we learned to use it together. During the years, I developed my passion in computing and programming and I always taught him to use all the tools needed to be a good user (he even uses things like password managers and multi-factor authentication tools).

Fast forward to early 2020, just before the pandemic, I started to buy BTC and I had always told my dad about this new "digital gold". He was skeptical (he's lived most of his life with FIAT and cash after all) but curious. He thought it was too risky though.

Not sure why, but last week he finally told me he wanted to try it. So we setup his software wallet and he bought 0.01 BTC. Not sure if he'll buy more, but I can certainly say I'm proud of him!

Did you manage to convince your dads or other older people in your family to buy BTC?

I am not really interested in convincing people to invest in BTC but I will teach about how the technology works if someone really interested to know. BTC is highly volatile so introducing them as an investor is not really a great idea moreover it affect the relationship between them if they lost it somehow. But teaching about BTC to the upcoming generation really matters though cause if we really adopt to the system then young generation people will be the high percentage of the users of BTC.

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Quote from: Bestdss on March 09, 2023, 09:11:26 AM

Wow! Just wow!!
You must be a good orator and marketer to have convinced your old man to invest in crypto-currency having used Fiat much more of his life. I don't know the name of your country but if our older parents let's say from 60 yrs and above in Africa can give cryptocurrency a trial our Economy will boom but funny enough most of our youths still perceive cryptocurrency as scam.

How will you make your economy boom by investing in bitcoin? Bitcoin is not a get-rich-quick tool. What happens when the value of bitcoin drops 50%, and are you sure your parents will withstand that shock?
Cryptocurrencies are scams, created and disappearing projects like Luna and FTX are scams, and our youths are not wrong. Apart from bitcoin, all that remains is gambling and scams.

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