Topic: I managed to convince my senior dad to invest in BTC - page 5. (Read 789 times)
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.
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).
Convincing someone to invest in crypto is risky, because if he loses, he will blame me as the reason for his loss. So I would be more interested in getting someone interested in learning about crypto, so that he can enter the market with a detailed knowledge of crypto and avoid making losses. In any investment case, the person who convinces someone to invest in something, is later blamed for their losses. Gaining knowledge about Bitcoin is important, so make your Dad more interested in learning so that he can make decisions on his own. Hope your dad's crypto journey is awesome. And he can take the best advantage of Bitcoin.
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
I don’t see myself too convincing anybody just to invest in bitcoin, and I won’t do that even in the future. I know how risky bitcoin investment is, so if one wants to invest, he should do it by his own willingness and not because i have convinced him. Though I have been in crypto for years, but all those times, I have not even told anybody that I am into bitcoin except for my family and closest friends. On the other hand, if they'd made up their own mind and just asked me for assistance, i would gladly help them out
Here where i come from a man close to 80 years will most of the time be lying down with the little strength he have I doubt he will be able to operate a computer.
My dad is 82 and he's driving a car and gardening. Let's not generalize there's many different people in the world. I doubt that, even in your country, when a man reaches the age of 80 he lies down in bed and starts watching TV and pissing in a pot.
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Convincing someone that old to invest in bitcoin is improper,
It's not. An 80 year old person is completely capable of making decisions.
I know 80 year old professors who hike in the mountains every year and do 2 hour long lectures. If they don't need other people to manage their bank accounts they can manage a bitcoin wallet.
Did you manage to convince your dads or other older people in your family to buy BTC?
Well, I have told my family about Bitcoin but haven't told them to buy it. They understood the concept. I guess I was able to give them the right knowledge and they are very supportive on my works too. But as they are less connected to the technology world, they aren't able to buy and sell BTC, and from my understanding, I should not help someone to buy it or force them the concept unless they are willing to do it themselves. But my sister told me many times and see keeps her money in bank. So she wanted to take out those moneys and invest in Bitcoin. So I helped her. She's been holding BTC for over a year now. But I told her not to invest all. So she did and kept her half money in bank.
It seems that in the case of the op, the father wanted to invest and came to the son about it years after the initial discussion of what Bitcoin is and how it can be an investment. So, to be honest, it doesn't seem like much convincing happened here (and it's a good thing as convincing people to make certain financial decisions is problematic, as others noted). I am happy you have such a progressive parent who is ready to explore new areas at the age of 79. Even if he doesn't buy more, I think it's a good investment. I wouldn't try to convince my older relatives to invest in Bitcoin, but I wouldn't hide interest in Bitcoin either, so if they come at some point, I'd be there to help but make sure they understand the risks and that I'm not responsible for what happens next.
Did you manage to convince your dads or other older people in your family to buy BTC?
Anyway, I hope your dad fully understands the volatile nature of bitcoin and that it may take some time before he is in profit.
Convincing someone means we are responsible for the decisions that have been taken by them. so that I have no intention to do so at this time.
but I will be very open if someone approaches and asks me about bitcoin. I will explain it honestly and to the best of my knowledge. and let all the decisions rest in the hands of that person.
but it seems your father did decide it himself. and it seems you have a very close relationship with your father. so I hope you continue to pay attention to your father. and tell him more clearly about the risks taken and everything else. although it seems you have told your father about this several years ago. but try to remind him again.
I love how you and your father can share this knowledge with each other. and it seems your father is a smart person. because he can see and predict which way the world is headed. for example your father who bought a computer device for you. it was an extraordinary thing about a father figure at that time.
but I will be very open if someone approaches and asks me about bitcoin. I will explain it honestly and to the best of my knowledge. and let all the decisions rest in the hands of that person.
but it seems your father did decide it himself. and it seems you have a very close relationship with your father. so I hope you continue to pay attention to your father. and tell him more clearly about the risks taken and everything else. although it seems you have told your father about this several years ago. but try to remind him again.
I love how you and your father can share this knowledge with each other. and it seems your father is a smart person. because he can see and predict which way the world is headed. for example your father who bought a computer device for you. it was an extraordinary thing about a father figure at that time.
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?
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?
He thought Bitcoin investment was too risky and you said 'not sure why' really? He is over 70+ for crying out loud, all his life he have never seen anything going head to head with FIAT currency and this is the first, so you except him not to doubt? Bitcoin is still risky because it is volatile, a perfect reason not to try forcing anyone to invest in Bitcoin.
I have never tried to confuse anybody to invest in Bitcoin and I don't picture myself ever doing that, you must give them the reasons why Bitcoin is worth giving a shot, step back and let them do some research and if they like the idea behind Bitcoin that's where you can come in.
I am glad he supports you anyway, my respect for any older person that are still open to trying out new things, not many older people like doing such.
to convince someone to invest in Bitcoin is certainly very difficult and I am sure that many crypto users today they have their own desire to get to know the crypto world so they want to find out how to use bitcoin, then I salute you who can convince people who are old to be able to invest in bitcoin, and currently I can only tell close friends who want to learn about the crypto world and it does have confidence alone.
...//...::
It does not matter if his story is true or not, the important thing is the objective, it is not complicated to "buy", it is a paradigm within some bitcoin users that curiously bitcoin seeks to break complex paradigms, such as traditional banking, so invest in bitcoin is made for easy access.
Leave the fear, recommend Bitcoin, it is a straw nowadays not to recommend bitcoin. If people have their heads in social networks there is nothing worse than that.
The only basic thing in starting to buy bitcoin is common sense, please, it is not a rule to have to teach that you should not sell your house to buy bitcoin! or yes?, and add that it is possible that its value will come down to 80%, after that if you understand it correctly, invest.
Disclaimer:
This is not investment advice, your money and how you spend it are your decisions and responsibility.
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
Pretty much on the same page. Still, remember, everyone is ultimately responsible for their own actions. Following your "advice" or even convincing arguments is still THEIR choice.
Generally I think people take too little responsibility for their own shit and love to blame others for their misery. So that already should be enough to shy away from trying to convince anyone. However, if it ever happens, just keep in mind: Their life, their responisbility.
@OP: I think it's great, sounds like a "natural process" so to speak and investing smaller amounts (each month) should be a great way to gain exposure towards crypto.
GL to the both of you.
~snip~
Hearing stories like this all the time makes it seem like the whole world is chasing Bitcoin. Stories like this are constantly being heard, someone is investing in bitcoins who is his grandfather, someone is teaching his brother, someone is teaching his friend, someone is teaching his uncle, someone is teaching his father. Really love to hear the stories. But I am also confused as to how true these stories are 
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Did you manage to convince your dads or other older people in your family to buy BTC?
I don't want to convince any old people in the family, including my father, to invest in Bitcoin. Because investing in cryptos carries high risks that are not commensurate with their age. But for my future generation to keep pace with the modern world, I will teach my sons and daughters about Bitcoin and also about its investments. I think my plan is not bad 
Did you manage to convince your dads or other older people in your family to buy BTC?
Doing extra to convince a family member sometimes may not be the best because you can be blamed if things do not go as smoothly as they expect. You can always use any opportunity you have to state the benefits that bitcoins has both as a currency and for investment. After doing that, you let them and give them the chance to make the decision on their own rather than doing extra to convince them and get them to buy bitcoins. If you do extra some, some of them will just agree to buy bitcoins just so you can stop talking to them about it, but that is not how it should be. Their decision to buy bitcoins should be out of interest and not pressure.I am a strong believer of Bitcoin but I will never convinced or persuade anyone to buy this currency. I have carried out some Bitcoin awarenesses programs where I didnt only introduce Bitcoin as a an investment platform but as a currency. After the publicity programs, the decision to invest solely rests on the participants. Recommending an investment scheme to somebody is like guaranteeing the stability and profitability of the business.
OP said his dad is 79 years and is still investing in Bitcoin maybe he is investing for his children or grandchildren because the profitability of Bitcoin cannot be predicted. And your father is wonderful because mine will never invest in what he might not be able to understand. I hope you also told your dad about the volatility of Bitcoin to make him get prepared for the good and the bad.
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
Yes, this is it. Persuasion is out of the question when talking to people about bitcoin. I may convince or persuade you to get on a healthy regimen that may consist of eating fruits and vegetables, exercising, and getting enough rest, but when it comes to money matters—investing your hard-earned cash in a business or property—I never try to do it. I do my best to tell you the pros and cons and then leave it up to you to make the final decision. My reason is that, irrespective of how much profit the person may make at the beginning (during a bull market), they would forget and put the blame on you in the bear market. They would think that you have control over the market and its prices, and by extension, their money in the wallet. Therefore, you should have been able to prevent their money from falling. On the other hand, if they'd made up their own mind and just asked me for assistance, i would gladly help them out
I absolutely understand what you all mean but it's 0.01 BTC, we are not talking about lifelong savings. I'm also relatively relaxed because we're not in the bubble phase of the market just before the top, so if history repeats itself, it's unlikely to lose much money for anyone investing now.
The money your dad has invested may not be a lifelong savings, but is your dad aware of the risks of his investment, or has he only invested because you convinced him that it is a good investment. I discovered that when most people are talking about BTC with their families, they only tell them how they are going to become rich if they invest, and they let them find out about the risks themselves after they have already invested. You dad may not have invested much for now, but what if he intends to buy more?I do not convince people to invest in BTC, but for those that do, if you convince people to invest in BTC without telling them about the risks, just know that you are the one carrying the risks of their investment, and that is not a good position to be in.
And in OP's case, OP's dad is 79 years old, and I'm really worried for his health if he sees bitcoin drop 20%-30%, I think the elderly will not be able to withstand such big shocks. Even a young person who has witnessed bitcoin's plunge during bear seasons can't help but be bewildered to see bitcoin plunge, let alone an elderly person who has never witnessed it. OP was really too risky trying to convince his father to invest in bitcoin.
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).
After the vulnerability, successful attack, and data breach of some password managers, I don't think it is wise to totally rely on password managers. It is better to do it locally. I hope you also teach him how to back up his multi-factor authentication equipment.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!
I respect his courage but you need to teach him how to use his Bitcoin securely. Piece of advice, don't be in charge of his Bitcoin investment. Things like that have led to conflict in some families. 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!
I once tried to convince my parents but they just said they were too old to learn much about crypto so they still didn't invest in bitcoin. But they allowed me to continue learning and using crypto because they knew it was something new that might change the financial future of the whole world.
So congratulations if you have succeeded in convincing your parents to invest in bitcoin. You have to help him secure his bitcoins from others and always remind him not to keep his bitcoins in exchanges. And don't forget to remind him that crypto assets come with risks so your dad needs to stay calm in case something happens.
So congratulations if you have succeeded in convincing your parents to invest in bitcoin. You have to help him secure his bitcoins from others and always remind him not to keep his bitcoins in exchanges. And don't forget to remind him that crypto assets come with risks so your dad needs to stay calm in case something happens.
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).
Here where i come from a man close to 80 years will most of the time be lying down with the little strength he have I doubt he will be able to operate a computer.
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.
Convincing someone that old to invest in bitcoin is improper, I’m sure you will be the one handling his wallet, transactions and all his fund. I just hope you told him about the risks involved not just the benefits, is he aware of the market behavior and how the market is uncertain. Considering his age it is dangerous to get him involved in this kind of a thing. How will he cope when the market is bad and his money dropping. Did you put all this in consideration?
Now its not about him loosing his funds but how would he cope and what effects will it have on his health when he’s running at loss.
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!
Since you’ve put him to it don’t forget to let him know how to secure his wallet and keys and what will happen when it gets in the hands of another user.
Did you manage to convince your dads or other older people in your family to buy BTC?
I won’t force people to join especially when they are older people, they are people that can be easily affected when there is a bad outcome.
I absolutely understand what you all mean but it's 0.01 BTC, we are not talking about lifelong savings. I'm also relatively relaxed because we're not in the bubble phase of the market just before the top, so if history repeats itself, it's unlikely to lose much money for anyone investing now.
The money your dad has invested may not be a lifelong savings, but is your dad aware of the risks of his investment, or has he only invested because you convinced him that it is a good investment. I discovered that when most people are talking about BTC with their families, they only tell them how they are going to become rich if they invest, and they let them find out about the risks themselves after they have already invested. You dad may not have invested much for now, but what if he intends to buy more?I do not convince people to invest in BTC, but for those that do, if you convince people to invest in BTC without telling them about the risks, just know that you are the one carrying the risks of their investment, and that is not a good position to be in.
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