Topic: I Taught a Pastor Friend on Bitcoin. - page 2. (Read 362 times)
I totally agree with mk4's opinion is even better for orienting newcomers from basic technical aspects of bitcoin. This reduces them to speculators early on and certainly prevents them from overusing centralized services. The current state of affairs is not good to speak of potential prices.
I received a call from a pastor friend today and he told me that he want to learn about Bitcoin and I told him to come to my house and he came, and I taught him about Bitcoin.
The first thing I told him was the meaning of BTC and the reason of creating Bitcoin by Satoshi Nakamoto, which was to remove 3rd party control of funds.
And also the risk that involve in investing in Bitcoin. I told him the example of the present bear market. "Now if you invest in the price rate of $16k and the bear decline again to $10k or below which was predicted. And you want to use your cash at that time, then you become a loser in the investment. But if the price goes up to $20+ price then you make profit from the investment. Then I told him to go for a long term investment and he accepted the explanation and used $20 to start the investment. He is still under my coach.
The first thing I told him was the meaning of BTC and the reason of creating Bitcoin by Satoshi Nakamoto, which was to remove 3rd party control of funds.
And also the risk that involve in investing in Bitcoin. I told him the example of the present bear market. "Now if you invest in the price rate of $16k and the bear decline again to $10k or below which was predicted. And you want to use your cash at that time, then you become a loser in the investment. But if the price goes up to $20+ price then you make profit from the investment. Then I told him to go for a long term investment and he accepted the explanation and used $20 to start the investment. He is still under my coach.
I love seeing news like this, when more people are been brought into the crypto space, which to me is a positive sign of growth and hope you also made him be accountable for his funds?
Bitcoin is very volatile and an investor should be held responsible for every action he or she takes, I'm saying this to you because we've heard and seen situations where someone was introduced into the crypto space, and invested over $900 and after 4 days or so, the funds dropped to about $400 and she arrested the guy that introduced her to the space.
Long story short, always emphasize on the volatility of Bitcoin to him and don't do any action for him but rather sow him how to do it himself.
I wish I had started with cryptocurrency with someone coaching me. I had to learn about cryptocurrency on my own and read a lot of articles and finally ended up in this forum which really helped my knowledge grow regarding cryptocurrency. There's a lot to learn about cryptocurrency since it's a broad topic. I myself get hyped when someone is really enthusiastic to learn about cryptocurrency since not everyone is open about something new or adapts to changes, especially technology. Why not invite your friend to create an account here in this forum, since there's a lot of topic that is worth to read.
Today with the support of technology and the internet, finding and self-study is no longer too difficult. I am also self-taught without any guidance and I find it better not to rely on anyone. Also, if we need help, we can easily find help, such as right here on this forum. You can ask any question that you can't find the answer to, or questions that no one has yet answered for you, the seasoned investors on the forum can help you. Here we support to grow together.
People wanting to learning about bitcoin now is strange. I mean the whole internet is filled with "I told you so" from non bitcoin supporters to bitcoin investors. Well, I hope you told him the reality of bitcoin. Will you also do a follow up in 2 - 3weeks with him to ensure that the lessons stuck? You know teaching someone about bitcoin is not a one-off thing. There has to be constant follow-up with audio-visual and material resources.
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The first thing I told him was the meaning of BTC and the reason of creating Bitcoin by Satoshi Nakamoto, which was to remove 3rd party control of funds.
Looking at the current state of the crypto industry, where there are custodial crypto exchanges everywhere, it makes me think that Satoshi's vision about removing 3rd party control didn't come into reality. This is sad. I really want the crypto world to become free of custodial services.
Anyway, teaching your pastor friend about the price doing up and down is simply investment advice. I wouldn't recommend giving investment advise to random strangers. In some countries giving investment advise is illegal.
Does your friend have any access to a computer and internet? If the answer is yes, then he could find plenty of information about Bitcoin/crypto.
I wish I had started with cryptocurrency with someone coaching me. I had to learn about cryptocurrency on my own and read a lot of articles and finally ended up in this forum which really helped my knowledge grow regarding cryptocurrency. There's a lot to learn about cryptocurrency since it's a broad topic. I myself get hyped when someone is really enthusiastic to learn about cryptocurrency since not everyone is open about something new or adapts to changes, especially technology. Why not invite your friend to create an account here in this forum, since there's a lot of topic that is worth to read.
I'm glad to see that there are people who have an open mind about bitcoin and want to learn about bitcoin from you. This is good because you can teach him everything about bitcoin and can also learn about bitcoin together. Yes, maybe it would be better if you teach him about investing in bitcoin because in my opinion, it is much safer than trading because it requires more advanced learning. And don't forget to emphasize to him not to panic if the bitcoin price drops again because it is a very good opportunity to buy more. Hope you both can get great profit in the future.
Why the topic Pastor Friend? It's a good gesture from you ready to turn for your friend, what's so special about teaching your pastor, they are all humans. Don't force him to invest though it's the advice I can pass to you.
Long term investment is king in the Bitcoin Space.
Self Control of his/ her Bitcoin is also championed in the Space.
Good OP
Long term investment is king in the Bitcoin Space.
Self Control of his/ her Bitcoin is also championed in the Space.
Good OP
Hopefully you're giving him good sources of information, and not just talking about price. Here's my personal picks for good content:
* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj
Security related:
* https://cryptosec.info
* https://www.lopp.net/bitcoin-information/security.html
If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters
* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj
Security related:
* https://cryptosec.info
* https://www.lopp.net/bitcoin-information/security.html
If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters
Good, you've taught a preacher about bitcoin. Tomorrow in the Sunday prayer he'll talk about it as like he knows everything about bitcoin (nothing offensive). This is how many pastors are doing. They want to show that they're updated with technology. To this, the way used is to get some knowledge about it here and there and finally they put forth to the Church people.
Anyhow it is a good thing, because he's considered a leader by some people around and the same will make him spread the word about bitcoin to the bottom people with ease.
Anyhow it is a good thing, because he's considered a leader by some people around and the same will make him spread the word about bitcoin to the bottom people with ease.
I received a call from a pastor friend today and he told me that he want to learn about Bitcoin and I told him to come to my house and he came, and I taught him about Bitcoin.
The first thing I told him was the meaning of BTC and the reason of creating Bitcoin by Satoshi Nakamoto, which was to remove 3rd party control of funds.
And also the risk that involve in investing in Bitcoin. I told him the example of the present bear market. "Now if you invest in the price rate of $16k and the bear decline again to $10k or below which was predicted. And you want to use your cash at that time, then you become a loser in the investment. But if the price goes up to $20+ price then you make profit from the investment. Then I told him to go for a long term investment and he accepted the explanation and used $20 to start the investment. He is still under my coach.
The first thing I told him was the meaning of BTC and the reason of creating Bitcoin by Satoshi Nakamoto, which was to remove 3rd party control of funds.
And also the risk that involve in investing in Bitcoin. I told him the example of the present bear market. "Now if you invest in the price rate of $16k and the bear decline again to $10k or below which was predicted. And you want to use your cash at that time, then you become a loser in the investment. But if the price goes up to $20+ price then you make profit from the investment. Then I told him to go for a long term investment and he accepted the explanation and used $20 to start the investment. He is still under my coach.
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