Topic: I managed to invite 1 of my friends to invest in bitcoin - page 3. (Read 980 times)
There is a wise say that goes thus, if a road is good, you go through it twice. And if it is great, you bring your friends and your family to go through the road with you. This is the case with our experiences with bitcoin. Although for some others who came with the misconception that it is a get-rich-quick scheme, the experience is different. I tell everyone of my friends who cares to know about the potential bitcoin has and why they should join in now that it is still early and "cheap". I also let them know about the inherent risk - 1.e the price volatility and discuss ways to navigate it. Not all of them end up investing but at least they have a little knowledge about bitcoin.
It’s like one-eyed man leading a blind man. I think the decision to invest was made too soon without sufficient knowledge. Such a person could easily be scammed. God knows what part of your pitch convinced him to invest. It’s probably the part of him breaking the bank with crypto investment. As much as we want people to join the bitcoin community, we should endeavour to pass the right information and not fairytale stories of how bitcoin can solve all your financial problems.
I don't know what the thrive is or the understanding of many members about bitcoin, we don't need a crowd what we need is true bitcoin believers so there is no need to try to convince anyone to adopt bitcoin as an alternative, most of the time I simply ignore anyone that does not have personal motivation toward Bitcoin and also the willingness to sacrifice the time to learn because if you get them in half baked without adequate knowledge there could pause a high risk to themselves and others so there is a need for knowledge before acceptance. 
...and to be honest I'm happy because my neighbors invest in bitcoin just like me...
Actually, the seller in the store acted recklessly, trusting your advice, obviously not understanding the fact that you yourself are new to investing. You should understand that if the price of bitcoin decreases after your recommendation to invest in bitcoin, then you will have to shop in another store, as the seller will consider you to blame for his losses.
It's a good thing to invite people to invest in bitcoin but considerations must be taken into account if the OP doesn't want to be blamed if something bad happens to his friend.
-snip-
and I also before he invested, had warned him earlier, that investing in bitcoin is very risky, profit and loss.
and i also suggest to join this forum to learn more about bitcoin.
because honestly I myself am still a beginner. what do you think everything i do
is it wrong or not?
I am not saying whether you are right or wrong here but isn't it very risky to let your friend download the exchange on his phone before he has enough knowledge about bitcoin even though basically you have told him bitcoin is a very risky asset to invest so my advice keep an eye on it your neighbor when he wants to put funds into the exchange so that he does not choose the wrong coin or token he wants to invest and let him know that the exchange does not fully guarantee the security of our funds in the event of a hack. and I also before he invested, had warned him earlier, that investing in bitcoin is very risky, profit and loss.
and i also suggest to join this forum to learn more about bitcoin.
because honestly I myself am still a beginner. what do you think everything i do
is it wrong or not?
One of the activities I avoid so much is the exposure of my identity via teachings others so because of that, I lack the motivation to engage anyone in a discussion as regards bitcoin, and different forks with their mindset, while some people already have a well-prepared mind to accumulate knowledge for seamless growth in the cryptocurrency industry. Because only with good knowledge one will gain the financial freedom that Bitcoin stands for since there have been a lot of falsehoods since there are several of fake information and also the fake identity of notable personalities in the kingdom.
Probably a bit too hasty. In the first place, how confident are you that you gave your "friend" correct/accurate information? Knowing that you said yourself that you're still a beginner.
The problem with some beginners is they actually think that they are already as good like veterans especially when they are already profiting in bitcoin. When in fact they’re not because of their limited knowledge and skills when it comes to bitcoin. So the buyer here might have misunderstood bitcoin and so is the seller also become reckless too. They should do both good research in the first place to understand more about the do’s and dont’s about bitcoin. 
According to the story, you didn't invite your friend to invest in Bitcoin but your friend ask you to learn him how to invest in Bitcoin. Your title is a bit misleading, please correct it!
By the way, you are too brave to give a lesson about Bitcoin investment to your friend because you are still a newbie. It is not wrong, but you need more experience and need more knowledge to give a lesson to someone. I am worried that you only know the theory, but get confused when you practice it. Experience is needed, you can share much when you have experienced it.
By the way, you are too brave to give a lesson about Bitcoin investment to your friend because you are still a newbie. It is not wrong, but you need more experience and need more knowledge to give a lesson to someone. I am worried that you only know the theory, but get confused when you practice it. Experience is needed, you can share much when you have experienced it.
because honestly I myself am still a beginner. what do you think everything i do
is it wrong or not?
is it wrong or not?
Not everything you did was wrong I commend the fact that you're trying to promote Bitcoin in your locality by inviting people to invest in Bitcoin but I see so many flaws in your approach.
Acquiring Bitcoin is a easy thing but keeping it safe is the job in it. I'm guessing you just showed your friend how to complete some certain transactions how to receive Bitcoin and some other stuffs but you didn't get to teach him how he's going to keep his Bitcoin safe like what type of wallet to use, how he's going to select the type of wallet he wants to use, and some other security measures he should take in other to prevent the device that he's using to keep his coins from getting infected by some malware or to prevent his device from getting hacked.
But, I just hope he gets to learn about all these stuffs before it's too late and since you already recommended this forum to him I hope he registers an account fast and start his learning process as soon as possible. The earlier the better.
...and to be honest I'm happy because my neighbors invest in bitcoin just like me...
Actually, the seller in the store acted recklessly, trusting your advice, obviously not understanding the fact that you yourself are new to investing. You should understand that if the price of bitcoin decreases after your recommendation to invest in bitcoin, then you will have to shop in another store, as the seller will consider you to blame for his losses.
Probably a bit too hasty. In the first place, how confident are you that you gave your "friend" correct/accurate information? Knowing that you said yourself that you're still a beginner.
It’s good that you are also promoting bitcoin in your neighborhood but what is bad about is you could have gone wrong in giving him the facts about bitcoin. Since you are also new in bitcoin, you are still less knowledgeable about how risky bitcoin is so you should have told him to just research in the internet and by the time you understand how bitcoin works, that’s the time to decide if you want to invest or not. 
today as usual I went shopping to my neighbor's shop, to buy groceries, for daily needs.
and when I got to the store I saw the shopkeeper holding a cellphone,
and at that time he immediately asked me and while pointing at his cell phone, and said what ad is this, ma'am? and at that time I immediately smiled, apparently on his cellphone there was an advertisement for an application for buying and selling bitcoin and crypto. and at that time I explained that it was an advertisement for buying and selling bitcoin exchanges. and at that time he asked me what is bitcoin? and I explained to him as best I could that bitcoin is an asset for the future, and we can invest in it, and I also explained that I also invest in bitcoin, and after that he finally got interested in investing in Bitcoin, and downloaded the exchange app and he immediately ask to be guided by me to buy bitcoin, and to be honest I'm happy because my neighbors invest in bitcoin just like me..
and I also before he invested, had warned him earlier, that investing in bitcoin is very risky, profit and loss.
and i also suggest to join this forum to learn more about bitcoin.
because honestly I myself am still a beginner. what do you think everything i do
is it wrong or not?
Its never a bad thing to do, by inviting or exposing your friends and people around you on the basic essence of bitcoin. But the only thing that's most important when explaining, is that you let he or she know about the volatility of bitcoin and make sure the person is well grounded that bitcoin is not some kind of get-rich-scheme where they can make millions by investing in a short time. Well from what you explained, i feel you already past that message about bitcoin being a two way journey @profit and loss. Apart from that i feel you did well by even inviting he or she to the forum because this is right place to equipt yourself on all kinds of knowledge involved in the cryptospace. and when I got to the store I saw the shopkeeper holding a cellphone,
and at that time he immediately asked me and while pointing at his cell phone, and said what ad is this, ma'am? and at that time I immediately smiled, apparently on his cellphone there was an advertisement for an application for buying and selling bitcoin and crypto. and at that time I explained that it was an advertisement for buying and selling bitcoin exchanges. and at that time he asked me what is bitcoin? and I explained to him as best I could that bitcoin is an asset for the future, and we can invest in it, and I also explained that I also invest in bitcoin, and after that he finally got interested in investing in Bitcoin, and downloaded the exchange app and he immediately ask to be guided by me to buy bitcoin, and to be honest I'm happy because my neighbors invest in bitcoin just like me..
and I also before he invested, had warned him earlier, that investing in bitcoin is very risky, profit and loss.
and i also suggest to join this forum to learn more about bitcoin.
because honestly I myself am still a beginner. what do you think everything i do
is it wrong or not?
Your friend will sure be happy to be a part of this "movement." As a newbie to bitcoin, you should also inform your friend on how to take the necessary security measures to secure his account.
Consider using the search bar to look for exact stuff you may want to know about bitcoin that you can share with your friend.
Did you know that your friend could lose his bitcoin in an exchange app?
Consider using the search bar to look for exact stuff you may want to know about bitcoin that you can share with your friend.
Did you know that your friend could lose his bitcoin in an exchange app?
...and to be honest I'm happy because my neighbors invest in bitcoin just like me...
Actually, the seller in the store acted recklessly, trusting your advice, obviously not understanding the fact that you yourself are new to investing. You should understand that if the price of bitcoin decreases after your recommendation to invest in bitcoin, then you will have to shop in another store, as the seller will consider you to blame for his losses.
It’s like one-eyed man leading a blind man. I think the decision to invest was made too soon without sufficient knowledge. Such a person could easily be scammed. God knows what part of your pitch convinced him to invest. It’s probably the part of him breaking the bank with crypto investment. As much as we want people to join the bitcoin community, we should endeavour to pass the right information and not fairytale stories of how bitcoin can solve all your financial problems.
I don't know what the thrive is or the understanding of many members about bitcoin, we don't need a crowd what we need is true bitcoin believers so there is no need to try to convince anyone to adopt bitcoin as an alternative, most of the time I simply ignore anyone that does not have personal motivation toward Bitcoin and also the willingness to sacrifice the time to learn because if you get them in half baked without adequate knowledge there could pause a high risk to themselves and others so there is a need for knowledge before acceptance. 
and after that he finally got interested in investing in Bitcoin, and downloaded the exchange app and he immediately ask to be guided by me to buy bitcoin, and to be honest I'm happy because my neighbors invest in bitcoin just like me..
Hope after buying bitcoin from exchange, you adviced him to transfer the bitcoin to a non custodial wallet, he shouldn't leave his bitcoin on exchange, we all saw what have been happening to some crypto exchange recently, no exchange is safe so if you leave your bitcoin on exchange, then the bitcoin those not belong to you completely. You should make sure you enlighten the user about wallet security, you should tell him the best wallet to secure bitcoin, how to protect the wallet, how to secure the wallet private key. Private key should be stored in a place were their is no internet connection, it should be stored completely offline.
I would have said it was too hasty since you're also a beginner but the fact that you also referred him back to the forum is a great idea and I'm also glad that you pointed out that investing in digital asset like Bitcoin is risky and just as he might be expecting a profit, so he should also be expecting a loss just incase the market goes soars which one one prays for.
I also hope that you guide him through the forum and also try to check up on him frequently and always remember to let him know that he will be responsible for every action he takes and no one will be held responsible for whatever action he takes.
You did a great job ma'am.
I also hope that you guide him through the forum and also try to check up on him frequently and always remember to let him know that he will be responsible for every action he takes and no one will be held responsible for whatever action he takes.
You did a great job ma'am.
Telling your neighbour about the risky and loss that can come from bitcoin was a smart move. At least he will know that you warned him before he invested in case those negatives of bitcoin happens to him.
Directing him to this forum will also fasten his learning process of bitcoin because of the so many experts we have here.
Recommending the forum to him is the right thing to do but we are no experts here, we only have seasoned investors who can give him some useful advice. Forums can provide him with useful knowledge and the necessary things so that he has enough confidence to invest in bitcoin.
today as usual I went shopping to my neighbor's shop, to buy groceries, for daily needs.
and when I got to the store I saw the shopkeeper holding a cellphone,
and at that time he immediately asked me and while pointing at his cell phone, and said what ad is this, ma'am? and at that time I immediately smiled, apparently on his cellphone there was an advertisement for an application for buying and selling bitcoin and crypto. and at that time I explained that it was an advertisement for buying and selling bitcoin exchanges. and at that time he asked me what is bitcoin? and I explained to him as best I could that bitcoin is an asset for the future, and we can invest in it, and I also explained that I also invest in bitcoin, and after that he finally got interested in investing in Bitcoin, and downloaded the exchange app and he immediately ask to be guided by me to buy bitcoin, and to be honest I'm happy because my neighbors invest in bitcoin just like me..
and I also before he invested, had warned him earlier, that investing in bitcoin is very risky, profit and loss.
and i also suggest to join this forum to learn more about bitcoin.
because honestly I myself am still a beginner. what do you think everything i do
is it wrong or not?
I read your description and understand that you have given an idea about crypto currency to a person who has no knowledge about crypto currency. But I think what you did is right. But you're in a bit of a hurry here. It was not right to prepare him so early for investment. He should first understand all the rules and regulations related to investment. Then if he is interested in investing, you can pay him to invest. However, you first make the person aware of all the rules related to investment and then make him a full-fledged investor to invest. and when I got to the store I saw the shopkeeper holding a cellphone,
and at that time he immediately asked me and while pointing at his cell phone, and said what ad is this, ma'am? and at that time I immediately smiled, apparently on his cellphone there was an advertisement for an application for buying and selling bitcoin and crypto. and at that time I explained that it was an advertisement for buying and selling bitcoin exchanges. and at that time he asked me what is bitcoin? and I explained to him as best I could that bitcoin is an asset for the future, and we can invest in it, and I also explained that I also invest in bitcoin, and after that he finally got interested in investing in Bitcoin, and downloaded the exchange app and he immediately ask to be guided by me to buy bitcoin, and to be honest I'm happy because my neighbors invest in bitcoin just like me..
and I also before he invested, had warned him earlier, that investing in bitcoin is very risky, profit and loss.
and i also suggest to join this forum to learn more about bitcoin.
because honestly I myself am still a beginner. what do you think everything i do
is it wrong or not?
Invitation is never the problem but teaching them to know all necessary information about Bitcoin, basically the risk involved with owing Bitcoin, things like how to properly secure or store their BTC, sending and receiving etc, and lastly allowing the person to take the investment decision itself base on the information he got to know about Bitcoin.
If you are that someone who do have that ample knowledge about bitcoin and other things correlated to crypto as whole then we do have the idea on where we would be suggesting on what sites or places for them to check out.Even explaining to them with the basic ideas wont really be that hard and time consuming, and the rest would be depending on his/her real engagement or experience towards it because not everything
could be learned on write ups but rather also with real experience or engagement through it.
It would be that impossible that you wouldnt be able to realize something on the time that you do decide to dive in.
Invitation is never the problem but teaching them to know all necessary information about Bitcoin, basically the risk involved with owing Bitcoin, things like how to properly secure or store their BTC, sending and receiving etc, and lastly allowing the person to take the investment decision itself base on the information he got to know about Bitcoin.
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