but if he is at retirement age and starts heavily buying, then I would urge him to limit his exposure to volatile assets like BTC and keep it a relatively small percentage of his portfolio 
Topic: I managed to convince my senior dad to invest in BTC - page 4. (Read 789 times)
very cool but if he is at retirement age and starts heavily buying, then I would urge him to limit his exposure to volatile assets like BTC and keep it a relatively small percentage of his portfolio
but if he is at retirement age and starts heavily buying, then I would urge him to limit his exposure to volatile assets like BTC and keep it a relatively small percentage of his portfolio Did you manage to convince your dads or other older people in your family to buy BTC?
Bitcoin is a top project in the market and persuading my Dad was a difficult task because he doesn't believe the new age which consists with new technology. He labelled cryptocurrency as scam because his friends were victims of scammed projects in the space, however they didn't got the legit information about the market, they just rush with their desperation to make profits from the market, that's not how the market works, it's basically step by step. Although I've tried my best to talk to my Dad to retry his efforts to invest in bitcoin, he gave me Yes for an answer, but I'm hoping for a good entry into the market because I really want to change his mentality and mindset about the market, I want him to see the good profitable sector of the market.
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.
How I wish senior dad had this edge to join crypto back in the early 2020s by now he would be laughing himself all the way to the bank for the huge gain's gained from the investment...but unfortunately we cannot predict the future and live each day as it comes. Did you manage to convince your dads or other older people in your family to buy BTC?
As much as I would love the older people around me to get into crypto, I feel this tech is better with the younger generations that can process loss better and keep up with price and the technology around it. 
Did you manage to convince your dads or other older people in your family to buy BTC?
Trying to convince an elderly person consider to investing in BTC is not an easy task at all. This is because you have to first confirm that they are digitally literate, next is their willingness to learn something new, after which you want to check their motivation to action. I have not really tried it once. Am just thinking about the possibility because my parents does not really have an idea about anything digital. So before i could tell them about BTC, i will have to first start by introducing them on how to use Computer system and what BTC is all about. There is no harm in trial. Maybe i should give it a rethink.
one can convince others to accept bitcoin if he get some success in it but I think that if he is newbies and have no such experience then Convincing other is somewhat difficult. I have tell about crypto investment to my family members and they start investment because they have seen my success in crypto investment.
If I have made investment in crypto and do not get cashback then how people will admire me because they will see my success and failure. So it's important to convince someone by showing your success to them. Giving them details about it and enhancing their knowledge can make them adapted to it.
If I have made investment in crypto and do not get cashback then how people will admire me because they will see my success and failure. So it's important to convince someone by showing your success to them. Giving them details about it and enhancing their knowledge can make them adapted to it.
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
On the other hand, if they'd made up their own mind and just asked me for assistance, i would gladly help them out
Convincing people to invest in crypto will always end up in quarrels or misunderstanding , the only thing I can do is to introduce crypto to people who don't have knowledge about cryptocurrency, then it is left for the person to invest in crypto or not to responsibilities of every risk. Investing must be a choice that comes from the mind, and should not be imposed on people. When one decides to invest willingly the patience, interest will be there unlike one who was forced into crypto investment.
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.
Always good to get more people on board with bitcoin. Buying 0.01BTC isn’t going to make him rich but it’s an interesting venture for him to follow.
You got him involved at a good time when we are in a bear market. Would have upset him buying in 2021 & seeing the price go down. We should be somewhere near the bottom now so he can enjoy it going up in 2024 & 2025 .
He will most certainly do better with his money in bitcoin rather than fiat long term. Make sure he knows how to buy more & use cold storage to hold his bitcoin if you know how.
You got him involved at a good time when we are in a bear market. Would have upset him buying in 2021 & seeing the price go down. We should be somewhere near the bottom now so he can enjoy it going up in 2024 & 2025 .
He will most certainly do better with his money in bitcoin rather than fiat long term. Make sure he knows how to buy more & use cold storage to hold his bitcoin if you know how.
It's not a bad idea that you were able to convince your father to purchase bitcoin and that he is interested in doing so, but I don't believe it's a good idea to convince someone who has retired from their work to buy bitcoin because it's quite risky. An elderly person who is familiar with technology and has some knowledge of bitcoin, on the other hand, can buy bitcoin, but he must be physically capable of doing so. I haven't persuaded anyone about bitcoin, I'd rather explain what bitcoin is and how it works than try to get him to buy some, convincing someone to buy bitcoin is risky because it can have unanticipated implications.
Do you believe it's a good idea to persuade an elderly person about risky things considering that your senior dad is already 79 years old? What happens if the price of Bitcoin continues to fall? Given his age, are you certain it won't affect his health negatively? When inviting someone to invest in Bitcoin, you need to know what you're doing and whether it's safe for them.
For me it is a bad idea, I don't see any benefit for a 79 year old to invest in bitcoin, conversely, if bitcoin is volatile, it will shock his father. If he is a filial son, he should focus on his investments and buy things that his father likes, for an old man, they need time and joy, not money. If we want to give investment advice to others, we should choose the right audience.
Good for you if you have convinced your senior dad, but make sure that he knows the risk of bitcoin investment so that he won’t blame you if ever that investment fails in the future. However, I have not managed to convince anyone to invest in bitcoin because I am not really doing it. I prefer to keep it only in myself because I know that people would always have to say negative about bitcoin, the reason why I never share my bitcoin experience to them. But if ever they’ll come to me and ask about bitcoin, I am very willing to share about my thoughts on it but never will I convince them to invest in it. If they want to invest later on, maybe that should be their own decision and not from me.
Indeed, there is no guarantee that I will succeed in investing in bitcoin, so giving investment advice to someone is not something I want to do, even if it is a close family member, because if they lose money, they will immediately blame me.
Currently, my brother is also starting to learn about bitcoin, but both have families, so I don't want to be blamed, all I can give to him is his knowledge of investing. I never shared my portfolio, I wanted him to educate himself and make his own choices.
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Did you manage to convince your dads or other older people in your family to buy BTC?
The fact that he is into computer in the early years made him decide whether Bitcoin is a good thing to invest with or not. Back in the 90's, it's the stock market that's existing if you want to get some assets. Of course this disregards the precious metals that you can be bought. No other crypto market at that time.Did you manage to convince your dads or other older people in your family to buy BTC?
Convincing my parents to invest into Bitcoin might be impossible for me. They don't have any background when it comes to investing in general. They have an "employee" mindset, and didn't try investing at all. I'm not telling them to invest though and will not convince them, but if I will say it to them, they might be skeptical when they heard it or find it confusing for them to learn knowing that they are seniors already.
Thanks everyone for your concern on our situation. Showed the thread to my dad and he's appreciated it a lot. He loves the fact total strangers cares so much about him as he's not used to it in the real life.
BTW yes, I made him aware of all the risks. He's just got that tiny amount for now, but he doesn't exclude he may buy more in the coming months. His goal is not to get rich off BTC, he just likes this "new" kind of money where banks have no control, to him it's a revolution.
Glad to hear that you have told your father about the risk he took in investing in bitcoin and I really appreciate you showing something new for your father which maybe this will indeed be a source of pride for him who is already at an advanced age. And I like parents who are open minded with advances in technology.BTW yes, I made him aware of all the risks. He's just got that tiny amount for now, but he doesn't exclude he may buy more in the coming months. His goal is not to get rich off BTC, he just likes this "new" kind of money where banks have no control, to him it's a revolution.
good luck guys.
Thanks everyone for your concern on our situation. Showed the thread to my dad and he's appreciated it a lot. He loves the fact total strangers cares so much about him as he's not used to it in the real life.
BTW yes, I made him aware of all the risks. He's just got that tiny amount for now, but he doesn't exclude he may buy more in the coming months. His goal is not to get rich off BTC, he just likes this "new" kind of money where banks have no control, to him it's a revolution.
BTW yes, I made him aware of all the risks. He's just got that tiny amount for now, but he doesn't exclude he may buy more in the coming months. His goal is not to get rich off BTC, he just likes this "new" kind of money where banks have no control, to him it's a revolution.
Did you manage to convince your dads or other older people in your family to buy BTC?
when it comes to technology or does really have that kind of interest into those things then explaining him about bitcoin wont really be that much of an effort compared into those dads who are really get used into those traditional investments which is understandable.It is actually depending on someones interest and someones preference whether they would really be having plans on telling the opportunities on where
Bitcoin or crypto could give when it comes to long term holds.
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).
Good enough your dad prepared you for the times ahead but, having an elderly invest in bitcoin is not of many benefits to the old timer. Apparently, that would benefit you as the ward the most. In fact, its more better to let them know what potentials are out there on the network and have them take some investments as some assurance on their ward's behalf.0 years of age, that's way past the average lifespan of humans these days and those of that age don't usually do much more. Risk taking isn't exactly there style and most especially, for a growing network which, known for its volatile nature and can leave an old timer thinking way much than he ought to. Perhaps you would continue your guide. Whatever is best for both of you.
It's not bad to try and convince the others but you should also know the risk what you are putting into them if things don't go as you planned. I wouldn't convince someone to invest in Bitcoin if they haven't had enough clue of what they are investing it's too risky and tiring at the same time to teach someone almost everything when investing.
And also, why would you convince your elderly dad to invest when the main goal of having a Bitcoin is for long term investment. Perhaps, because you just said it was a digital gold that's why he was persuaded but those coins he invested wouldn't directly go to him or to someone because Bitcoin has no owner.
And also, why would you convince your elderly dad to invest when the main goal of having a Bitcoin is for long term investment. Perhaps, because you just said it was a digital gold that's why he was persuaded but those coins he invested wouldn't directly go to him or to someone because Bitcoin has no owner.
Do you believe it's a good idea to persuade an elderly person about risky things considering that your senior dad is already 79 years old? What happens if the price of Bitcoin continues to fall? Given his age, are you certain it won't affect his health negatively? When inviting someone to invest in Bitcoin, you need to know what you're doing and whether it's safe for them.
If his dad have got the real understanding about the market then it is ok. In most cases it is quite risky task to make people understand well and they will be on the panic state forever. For this reason if someone request to know about cryptocurrencies I just give them the idea and brief them about the risks associated. In this act it is possible to stay on the safer side, because when they invest and doesn't have patience they'll surely end up losing and the blame will be upon us. This happens when the person lacks understanding about cryptocurrencies.
Do you believe it's a good idea to persuade an elderly person about risky things considering that your senior dad is already 79 years old? What happens if the price of Bitcoin continues to fall? Given his age, are you certain it won't affect his health negatively? When inviting someone to invest in Bitcoin, you need to know what you're doing and whether it's safe for them.
Convincing a senior anything incorporated with the latest technology, especially with complexity like cryptocurrency or Bitcoin is not as easy as you think. Lucky for you, you have a techy dad, he'll never had to start from the very bottom like finding the letter "b" on the keyboard.
Also, convincing your senior parents bears a responsibility against you, your siblings might sue you and accuse you for stealing their pension, if your parents will lose their Bitcoin investment because he never have enough knowledge about it.
So, we should always be mindful in convincing someone to any form of investments.
Also, convincing your senior parents bears a responsibility against you, your siblings might sue you and accuse you for stealing their pension, if your parents will lose their Bitcoin investment because he never have enough knowledge about it.
So, we should always be mindful in convincing someone to any form of investments.
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