I Taught a Pastor Friend on Bitcoin.

BitcoinPanther

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Quote from: Baofeng on November 13, 2022, 05:04:50 AM

Quote from: DaNNy001 on November 12, 2022, 01:19:08 PM

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.

Just interesting though that a pastor, a man of God is very interested on bitcoin?

Anyone can be a man of God, not only a pastor, more often than not, many who suppose to be a servant of God often take advantage of his follower and exploit them and suck them dry Grin

. ( I am not talking about the Pastor friend here, just stating my observation in general)

Quote from: Baofeng on November 13, 2022, 05:04:50 AM

Perhpas he has heard about it from someone or from you and just decided to go and invest today. And the timing is just about right, we are in a low $16k'ish. So that is very cheap. And don't get me wrong, I've heard some church personalities have a lot of money from donations and if they are wise enough, then maybe investing in bitcoin is the way to do. Good luck to you and your pastor friend, it's really a win-win situation for us right now. And as you have said, it's better to go long term or at least wait till the next bull run if he plans to sell.

Pastors has still personal needs, in a small community, donation of the followers may not be sufficient for the pastor so he is looking for another way to earn funding either for his personal need or for the church's needs. And possibly this time @OP had influenced his pastor friend to try Bitcoin investment.

Issa56

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I think it's really a good idea, probably very soon your pastor will also ask you to teach him about bitcoin, but I notice you didn't tell your pastor's friend about wallet security, it's not all about buying but we should teach people how to hold it and how to secure it, we should teach them how to create a wallet address because you have to discourage your pastor's friend from leaving his bitcoin on exchange and also you have to teach him how to secure his private. Private key is not what you can recover if you lose it so it should be properly secured.

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Quote from: DaNNy001 on November 12, 2022, 01:19:08 PM

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.

Try to teach him all what you can about holding his own coins and use the massive collapse of FTX to illustrate your point, now this may scare your student about the risks of investing in this market, but in my opinion this is not a bad thing, because if I had to choose between an overconfident newbie and a newbie which was always with their guard up and predict who will become successful, I will choose the latter over the former every single time.

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Quote from: DaNNy001 on November 12, 2022, 01:19:08 PM

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.

Well, sorry to say but I think you are disrespectful for asking your pastor to come to your house Grin

, but that's by the way.

The truth remains that bitcoin is here to stay, and it is currently one of the best investments for those that will be patient, it is not a get rich quick kind of investment and I think this is where alot of newbies get it wrong, but hopefully, the pastor already know this and won't be in a hurry to make profit..
I wish him all the best of luck, and I hope you bring him to this forum to join us, there is a lot he will learn from here.

Oceat

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Quote from: Asiska02 on November 13, 2022, 09:58:12 AM

Quote from: DaNNy001 on November 12, 2022, 01:19:08 PM

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.

It's great that you taught your pastor friend about bitcoin and further described the market to him so that he understands what is at stake and what he stands to gain regardless of how the market trends proceeded. One thing I'd recommend you do for him is tell him about his keys, the distinction between public and private keys, and how secure he should keep his private keys in order to keep his assets safe. Not his keys not his coins. I’m sure you didn’t open an exchange wallet for him so that he’ll have control over his funds.

It might take some time to absorb all of that information since learning and understanding about Bitcoin and everything won't happen overnight. I'm sure the pastor will have some questions too after giving all the information he needed but just like me in the past it takes some too to fully understand how Bitcoin works.

It's a great idea though by sharing their ideas to the other if only they are willing to learn and listen to what you have to say. Kudos to you OP for doing that and always support those who really want to learn it's a great help to the community for spreading awareness and adoption too.

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Quote from: DaNNy001 on November 12, 2022, 01:19:08 PM

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.

I'm happy that you have a friend who wanted to learn about Bitcoin and that you told him reasonable, not bullish, things. Long-term investment in Bitcoin is reasonable, but only if a person believes that previous patterns will continue to hold in the future and that Bitcoin will eventually recover from the current dip and restore its former glory. Of course, it's perfectly reasonable to believe that it won't happen because we don't know the future and the future does not necessarily repeat the past. I hope your friend realizes that as well.

lizarder

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Great job imparting something useful to others, but you should be able to ensure that the person you are teaching has a complete understanding of bitcoin and how to invest. Because naturally almost everyone already knows Bitcoin well, but there are many technical things that have not been understood perfectly.
Needs special scrutiny if the OP wants to see the person thrive in investing, but if it's just a casual introduction I'm afraid it's only temporary and won't have any future benefit to the person.

blockman

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Good job on helping your pastor friend to purchase his first-ever bitcoin holding. I think that once he's all set and understands everything, he'll go crazy and will buy as many as he can.
It doesn't really sound good when a preacher involves with money matters and followers will think differently if he starts talking about it. But anyway, regardless of that, I wish him all the best and hopefully that he's going to be with us whenever the market goes back again on bull mode.

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OP, I think you read the posts of your colleagues who told how they taught bitcoin to their students or people attending church; there were many similar stories. Another important aspect of these stories was their variety of merits. Why does it seem like fishing is everywhere to me? Grin

I'm being ironic, OP. Of course, you are great, but you have not done anything that each of us would not do. In fact, it is normal to tell your surroundings about bitcoin, if, of course, they are interested.
But yes, if you want to impress users more with your big work, you need to provide a bunch of photos, just like your fellow teachers do.

Asiska02

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Quote from: DaNNy001 on November 12, 2022, 01:19:08 PM

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.

It's great that you taught your pastor friend about bitcoin and further described the market to him so that he understands what is at stake and what he stands to gain regardless of how the market trends proceeded. One thing I'd recommend you do for him is tell him about his keys, the distinction between public and private keys, and how secure he should keep his private keys in order to keep his assets safe. Not his keys not his coins. I’m sure you didn’t open an exchange wallet for him so that he’ll have control over his funds.

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Quote from: uchegod-21 on November 13, 2022, 09:33:34 AM

Quote from: Vaskiy on November 12, 2022, 06:50:25 PM

Tomorrow in the Sunday prayer he'll talk about it as like he knows everything about bitcoin (nothing offensive).

He will talk about it as if he knows everything about bitcoin and he will also say the spiritual aspect of it which might not exist.

Assuming things especially about the worst or anything even though you don't really know the whole story is where FOMO and FUD starts.

As for OP, i hope you don't teach that friend of yours only about investment and prices. Bitcoin has much more interesting things to teach not just it's current and future value.

moklefasdice

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good for you
my friend told me about bitcoin a few years ago and I began to be interested only now))
so here I am on bitcoin forum

uchegod-21

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Quote from: Vaskiy on November 12, 2022, 06:50:25 PM

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.

He will talk about it as if he knows everything about bitcoin and he will also say the spiritual aspect of it which might not exist. If it was a referral program, he would have many people under him, but bitcoin is not a referral program. He may graduate to the extent of using it for tithe payment. Who knows how the church members may appreciate this newly found technology by the pastor.

Thanks OP for the teaching you gave the pastor, hopefully every religion will accept bitcoin and every race and colors will accept bitcoin also.

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Quote from: DaNNy001 on November 12, 2022, 01:19:08 PM

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.

For me, it is not at all clear why your friend decided to find out about bitcoin right now. As usual, new users become interested in btc only when it skyrockets in price. The fall of the crypto market, which is now taking place, only scares and repels new investors. Therefore, could you ask your friend and let us know what prompted him to take action. For me, this case looks atypical, but in terms of investment, the current moment is one of the best (discount season).

I noticed that your friend made the first purchase ($20) with care, which is actually commendable when dealing with a new asset. Most importantly, she took the first step in this direction. Good luck to him.

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Quote from: Accardo on November 13, 2022, 06:44:54 AM

People tend to lose friends they mentor in crypto, especially when their $20 investment drops to $13. Newbies may think you are responsible and charge you for refunds Grin

However, personally, you've done a very nice thing to advise or invite a Pastor friend to invest into cryptocurrency. Always, remind him, till it sinks, of the volatile nature of bitcoin. As a Pastor he'll be in charge of public funds, and its not advisable to invest people's money, without their permission, into bitcoin. Tell him.

I believe that is why many people do not want to share bitcoin or a business opportunity with their friends. Giving advice to someone, actually it also has 2 sides, not as simple as many people think. In OP's case, I don't know what he taught his pastor friend but if it was me, I will not rush to advise my friend to invest, I need him to fully understand bitcoin especially the risks he faces. I want to teach my friends about bitcoin but I want them to invest in bitcoin themselves instead of me doing it for them.

Accardo

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People tend to lose friends they mentor in crypto, especially when their $20 investment drops to $13. Newbies may think you are responsible and charge you for refunds Grin

However, personally, you've done a very nice thing to advise or invite a Pastor friend to invest into cryptocurrency. Always, remind him, till it sinks, of the volatile nature of bitcoin. As a Pastor he'll be in charge of public funds, and its not advisable to invest people's money, without their permission, into bitcoin. Tell him.

Baofeng

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Quote from: DaNNy001 on November 12, 2022, 01:19:08 PM

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.

Just interesting though that a pastor, a man of God is very interested on bitcoin? Perhpas he has heard about it from someone or from you and just decided to go and invest today. And the timing is just about right, we are in a low $16k'ish. So that is very cheap. And don't get me wrong, I've heard some church personalities have a lot of money from donations and if they are wise enough, then maybe investing in bitcoin is the way to do. Good luck to you and your pastor friend, it's really a win-win situation for us right now. And as you have said, it's better to go long term or at least wait till the next bull run if he plans to sell.

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Quote from: DaNNy001 on November 12, 2022, 01:19:08 PM

He is still under my coach.

Are you really capable to give tutelage? do you believe you have enough knowledge about bitcoins already? Teach him independence and how to seek proper information from the internet should you both loose contact. You can also introduce him to this community so he can get the benefit of being a member of a community that their subject is a topic he has developed an interest in. Remind him the importance of cold storages for long term investment, and how it is necessary to store coins in cold storages and not exchanges.

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Teaching him the right things will definitely help him. It’s good that you directly explained him about the application of Bitcoins and nothing but theory part. A person in order to understand about Bitcoins or cryptos, must have to understand the risk factors involved in it. You could have also asked him about previous examples of Bitcoins when Bitcoins went from 10k usd to 40k usd. Nevertheless it’s great that you are educating more people the knowledge and giving them the way to control their money independently. Let’s add more people to this amazing ecosystem.

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Quote from: Vaskiy on November 12, 2022, 06:50:25 PM

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.

There's nothing wrong with it; he'll spread the word, but I wouldn't say I like the idea of him bragging about knowing everything. Instead, the pastors will tell their stories about what they've done. Certainly, the way he tells his story will attract more people to get into bitcoin; even though the majority of those who attend his sermon will be in their 30s and up, it can overcome their fear of technology. I am hoping that he will continue to invest in it even though it is a bear market and that he will be able to overcome his losses when they occur.

noorman0

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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.

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Quote from: DaNNy001 on November 12, 2022, 01:19:08 PM

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.

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.

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Quote from: Genemind on November 13, 2022, 01:29:41 AM

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.

Davidvictorson

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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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Quote

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.

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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.

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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.

Bruce4

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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

mk4

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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

Vaskiy

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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.

DaNNy001

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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.

Topic: I Taught a Pastor Friend on Bitcoin. (Read 354 times)