I managed to invite 1 of my friends to invest in bitcoin - page 6.

sheenshane

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Quote from: Awan putih yang cantik on January 22, 2023, 08:34:51 AM

what do you think everything i do
is it wrong or not?

It might your neighbor will blame you someday if you didn't technically explain it very well.
There are too many things to study first before having Bitcoin on your own and I think you should know these too.

Things to remember basic information that should know.

Store your Bitcoin in a non-custodial exchange (not your keys, not your coins)
Learn to hold and never sell when the price drop
Understand the risk because it is a highly volatile market
Never share to anyone that you hold a large amount

I think you did it right but make sure your neighbor understands those I mentioned above if you don't want to get blamed someday.

SOKO-DEKE

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I don't think things are done in that way especially in term of Bitcoin investment. We should always try to acquired much knowledge about Bitcoin before we should invested in it.Bitcoin is not what we should rush into because it is not what will use few years us but what will stay with us forever,and it also involves some risk which everyone need to know first and again their are many unique things about Bitcoin and Bitcoin blockchain that why we need more knowledge about it. From your words I can say that you just explain about Bitcoin profit to your friend because with no that your friend can not just believe you like that and decided invest it immediately and if is that what you used to convince your friend, it may not stay long in the system because it aim will just always be on profit making which not supposed to be.
As you have said that you have introduced he/she to this forum you have done a great work for that step you take. It will be a nice idea to be here and sake for guidance about it Bitcoin investment.

Yatsan

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It is okay to share if you really care but since you are more knowledgeable in this industry, be sure you are sharing enough information including advantages and disadvantages; avoid being one sided. This is where misconceptions duch as 'easy profit' comes from, in this industry. Never let them to have high hope because the market itself is not consistent therefore profit is not always certain. If you won't be able to impart enough knowledge you are only putting them at risk. Be a friend. You won't drag one in danger if you really care. They should know that losing should be a part of the cycle to atleast lessen the part of regret if ever he'd come across one. Also, know your invitee's limit on investing because they might be using a fund they cannot afford losing.

n0ne

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Quote from: drwhobox on January 22, 2023, 05:27:00 PM

You have done all this on a moment while shopping grocery. Also you set up his account and help him to invest. You are too fast on doing things, but while motivating other people to get into the bitcoin space you need to give them time to think. If anything goes beyond his expectation, he will get demotivated and discourage others from investing/adopting bitcoin.

Rather you should have just given the introduction and directed him towards different sources available to learn better about the cryptocurrency. This could've made him to understand and decide. Sometimes the positive mind will look for the best and if something disappoints, surely this gonna affect his connection with cryptocurrency. Taking time and directing in the right way is a must in such act of spreading about Bitcoin.

drwhobox

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You have done all this on a moment while shopping grocery. Also you set up his account and help him to invest. You are too fast on doing things, but while motivating other people to get into the bitcoin space you need to give them time to think. If anything goes beyond his expectation, he will get demotivated and discourage others from investing/adopting bitcoin.

crunck

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Quote from: Awan putih yang cantik on January 22, 2023, 08:34:51 AM

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?

Even if you don't know if you yourself will gain or lose from investing in bitcoin, giving advice to someone is a big mistake. If they then lose, you will be the first to blame them. Instead, it would be better if you don't teach him how to buy bitcoins and show him the basics that you are also learning.

AmoreJaz

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Quote from: Upgrade00 on January 22, 2023, 04:40:48 PM

Never invite or convince someone to invest in Bitcoin; you rather give them enough information with which they can reach their decision for themselves.

I have had friends and family ask me about the potential of Bitcoin and everytime I send them data they can use to do their own research, if they cannot focus enough to go through the not so extensive stuffs, then they probably shouldn't be acting as their own bank and I don't pressure them at all.

Always allow people to reach the decision to be use a decentralized asset on their own and based on their knowledge of using it.

but one right thing he did was send his friend to this forum. because if his friend will indeed register here, he will learn a lot more of this market that his friend can't explain it to him.
what's done is done already. so they will both traverse this crypto market and will learn more lessons. i hope his friend didn't invest big amount. just a small one to get started.
also, if the OP is reading the replies here. better transfer your btc to your own wallet, like electrum. don't let your btc sit on the exchange app that he is using.

lalabotax

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Quote from: Awan putih yang cantik on January 22, 2023, 08:34:51 AM

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?

Wait, you are a beginner and you invite your friend to invest in Bitcoin? This is too risky mate. At least, you should ensure yourself in this Bitcoin investment. I know that you have explained to him the risks of investing in Bitcoin. But, have you understood the exact risks? And moreover, has he really understood? I am wondering if you are also telling about how many people able to earn so much money because of Bitcoin investment that your friend is also desired to earn that much money. I doubt that your friend will be really okay with the risks. If I were you, I will not invite him to join in the Bitcoin investment. I probably will tell him about my investment and about cryptocurrency. but I will let him understand by learning more at first. So, he himself decides going to invest or not, not by invitation from me. Because, once the price of Bitcoin is dropped again and he shocks, he may blame you. But hopefully, this is not what I am thinking about you and your friend. Hopefully, you can be really fine and ready enough with all conditions of Bitcoin investment. The positive thing is that it is Bitcoin, not altcoins.

Vaskiy

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I don't know how far this incident have happened, but if this had happened then this is really good. Though he doesn't have much of knowledge about cryptocurrency he have did the best of his ability and explained it. When it comes to cryptocurrency the spreading have happened through word of mouth.

If you go through the past days of cryptocurrency it is quite hard to find advertisements used to promote or spread about to the world about cryptocurrency. Now only private ventures for their revenue making have begun to promote through advertising.

Upgrade00

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Never invite or convince someone to invest in Bitcoin; you rather give them enough information with which they can reach their decision for themselves.

I have had friends and family ask me about the potential of Bitcoin and everytime I send them data they can use to do their own research, if they cannot focus enough to go through the not so extensive stuffs, then they probably shouldn't be acting as their own bank and I don't pressure them at all.

Always allow people to reach the decision to be use a decentralized asset on their own and based on their knowledge of using it.

fuguebtc

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According to what you said, he started buying bitcoins only after a short conversation between the two, I would say that both are in too much of a hurry to invest in bitcoin. Even though you explained bitcoin and warned him about the risks he would take, it still wasn't enough for him to understand what you were talking about. What you need to tell him is to learn about bitcoin before instructing him to download the trading app and buy bitcoin on the spot. What if after buying bitcoin and you are not there? If he loses those bitcoins, he will definitely blame you.

Rruchi man

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Quote from: Awan putih yang cantik on January 22, 2023, 08:34:51 AM

and i also suggest to join this forum to learn more about bitcoin...

You have done well trying to convince someone on such short notice to invest in bitcoins and also a good job introducing them to this forum, but you should have and can do a better job in the future by trying to teach them the basics properly first before leading them to this forum to learn more. If you just lead them here, the bulk of topics that they will see can be overwhelming and they may not really learn anything or it will take a longer time to learn.

I know we can be in a rush at times, or an inappropriate position, but there is always the possibility of scheduling another better lecture session maybe online or better offline. Taking some time to really give lecture to an interested person goes a long way.

Merit.s

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Quote from: Awan putih yang cantik on January 22, 2023, 08:34:51 AM

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?

You are just a beginner and you have introduced and encouraged someone into investing on something you only know little about. Can you see what you did,you directed or helped him downloaded and exchange app and also bought bitcoin for him without even teaching him or advice him on how to use a noncustodial wallet, which he needs to transfer his investment into for safety. The guide says do not leave your funds in an exchange because you will end up losing it. I will advice you to learn more about wallets and tell your friend the disadvantage of keeping his coin in an exchange. Too fast move you did,anyway the forum is here to teach you very well.

Dr.Bitcoin_Strange

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OP, it's good that you also referred your friend to the forum. I believe in helping others as long as they develop an interest in the first place. There is no harm in helping your friend acquire Bitcoin; perhaps you never forced him, and you also told him some risks. I hope you told your friend that you are also new to Bitcoin so that he doesn't have to conclude that you are a pro and would have to depend fully on you to spoon-feed him information. It is not bad if you continue to teach him what you have learned so far, but at least letting him know your capability will also prompt him to do more research for himself and learn. Some people only like to depend on spoon-fed information, which limits their knowledge to what they should know. I hope you warn him not to store his bitcoin on the CEX, not to share his private key with a third party, not to publicly announce his Bitcoin holding.

I hope you let him know he needs to keep his Bitcoin safe in his wallet as prices appreciate and by so doing, he needs to safely secure his wallet phrase.

salad daging

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Your friends directly invest without knowing the basic of bitcoin? I think this is too fast but somehow you have to teach him first about bitcoin, not inviting him to invest directly, this is not the right way, while he is only persuaded by the seduction of big profits without thinking about the risks, even though you have warned him, so it's clear that without learning, it's not the right one for you he who knows nothing.

Wrong or not, what is clear is that you will definitely be held accountable if your friend doesn't want to lose big because he doesn't know the concept of real investment in bitcoin, especially since you are also a beginner who is still new to bitcoin.

Erumo

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A friend, crypto, cellphone and investment - what a nice movie script. Give your friend hints about safety. This extremely necessary, coz he was so open for making investment decisions. If he is so new in crypto and immediately bought bitcoin after you tell him about it, then imagine what he is able to do if he gets surround by scam investment. He would invest in every single one of it. You know, it isnt hard to invite a person to make his very first investment into bitcoin, but it is hard to keep friendship after, as you are now responsible for his funds.

bittraffic

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Quote from: Awan putih yang cantik on January 22, 2023, 08:34:51 AM

because honestly I myself am still a beginner. what do you think everything i do
is it wrong or not?

Do you feel you are vaguely responsible if he loses his money? Cheesy

He is a businessman, owns a shop and pretty much he values money which means profit is important for him to see.

The coin could be in the exchange still and your neighbor has no plans of getting it out. Nothing wrong with what you did, it's fine I guess the best advice you can tell your neighbor is to hold for now and sell by the time the profit is enough for him.

CryptoPanda

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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 bitcoin community, we should endeavor to pass the right information and not fairytale stories of how bitcoin can solve all your financial problems.

Anonylz

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I guess both of you will learn with experience as you progress in this space. You are a beginner and invited a friend who will depend on you for guidance. The only way to go is for the both of you to keep leaning about btc to support each other, share vital info among yourselves, and I think you did good by letting him know about btc. Good luck to you both.

mk4

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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.

Topic: I managed to invite 1 of my friends to invest in bitcoin - page 6. (Read 980 times)