Topic: I Want To Invest Money From My Inheritance In Bitcoin, But? (Read 292 times)

Investment in bitcoin is something that needs a lot of patience. When I say a lot, I mean a high quantity of endurance because many find it hard to endure the money they invest. If it were only your money, I would recommend it, but even so, you are not supposed to invest all that you have and stay with nothing, but we are talking about other money joint with yours to invest.

I will just say you are trying to embark on a dangerous and critical conclusion because some people who have already engaged in investing in bitcoin know about it already, but your brothers that are trying to join are doing it for the first time, and anything that happens to their money, you will be the one to blame, and your connection as a family might reduce because they will have no trust in you any more.

What I can only add up for you is that even if they insist on investing in bitcoin, you should explain effectively all that they need to know about bitcoin first, and you should make sure you open a wallet for each of them to make sure they are the ones that take responsibility for their funds themselves. Most importantly, they should know that in bitcoin you invest the money that you can afford to lose, and you should also tell them about the positive and negative parts of bitcoin so that anything that happens to them, they will never blame you for any of their mistakes.

I think we all understand that nobody want to lose money. That can we all 8 billion people on int the world agree on.

I don't THINK a person should hold Bitcoin for 12 year old person. That's was my point.  

But also if you got children and want to save up money until they turn 18 it's up to you how  you want to do it, maybe somebody just want to put 100€ on a savings account each month or somebody put 100€ into crypto. That's up to the individual. What would I do? No idea because I don't have kids, but I would probably mix it up.

But I am speaking about advice's to adults and If it's stupid to give ideas of investment to friends/family because they will blame you if they lose the money then you're friends ans family is mentally 12 years old IMO. That's my point.
We are adults and got responsibility as I said I told my father to invest in Bitcoin. I told him about the risk and what was the best option for him since he never trade, just let them coins grow and it worked perfect and gave us a closer connection but that does not mean it work for others, but responsibility and research is key my friend that nobody want to want to know about here.

Of course if you said to your friend "Invest all you got in this meme coin" and they do and they lose they will blame you with all right but nobody will and should do that, but come on this is ridiculous saying invest in Bitcoin to a family member and talk about it first is stupid?   and often people say this is people that been knowing about BTC for long time but didn't dare to buy 10 years ago, so I would not listen to these people that don't even did dare to risk at that point. They only looking for 99.99% investments. Booring.

To my point: I respect everyone's opinions, but these "They will blame you if they lose money" is just weak minded people that can't take responsibility for their own actions and should work on their mentally strength, for me I never heard something like that and I would never do like that if I got investment ideas I would do research and invest or not invest based on the research.



Yes 100% obvious. Of course.

When it comes to money, no one cares whether you're my friend, my sibling, my brother etc. Money is money, no one want to lost it.

If you think 12 old person is still young and it make sense for someone to hold Bitcoin for him, why he need to rush to invest in Bitcoin when he's not ready to hold by himself?

The problem isn't about you've taught them if Bitcoin has no 100% guarantee will profitable etc etc, but there are many stupid people who forget with everything what you've said because they always think investment = profitable.

I'm really sorry about your father. It's totally normal to feel confused, especially with money matters during such a tough time. If your brothers want in on the Bitcoin investment, maybe set clear rules on how you'll manage it together, like for how long and how decisions are made. Don't hesitate to talk openly with them. Also, consider getting advice from a financial expert. Take it slow and make decisions that feel right for you in the long run.

If they want to invest in bitcoin they should do it on their own. You can teach them how everything works. They shouldn't combine their money with yours. If you accept to combine their money with yours and invest in bitcoin, they will be calling you every now and then requesting for the state of things. It will get to a time you won't have rest because of their disturbance. Share your knowledge in bitcoin with them and let them start from there if they want to invest their money. Let their wallet and everything be with them.

i think you already understand investing in bitcoin so i don't need to explain any more. but from my experience as someone who has siblings and has worked with them on a business, it is better for you to separate sibling relationships and money, because my experience is quite bad in that regard. i don't know what your brothers are like, maybe they are good people, but you know that sometimes money can change a person and this will disturb your relationship with your brothers.

so it's better for you to teach them how to invest in bitcoin and how to manage it in their own wallet. so that one day you won't be blamed for the decline in bitcoin prices or investments that don't grow.

Hope you know that what you are about to do is a big risk for you? because your brothers are already aware that you are a bitcoiners in the family and you want to help them to invest in BTC and, if they see you growing more wealth than them in the society they will feel you are using their money to enrich yourself.

I will advise you to tell your elder brother and younger brother that you where joking with them that you have the knowledge of BTC which is not true so that they will look for other business that they have the idea to invest the money because, if you go ahead and create the BTC wallet for them to invest in BTC and anytime they see you making more money from BTC, they will not know that you are using your senior member account to work in the signature campaign than to think you're not telling them the secret behind BTC investment.

Seen a lot of stories about this and it's an ugly thing, this is pretty prevalent thing in most provinces in my country and most of the time, the property that they're fighting and killing each other over is just a tiny piece of land that if you're there, you would be confused why they're fighting over it when they can't even build a decent house on it.

Although we know how good bitcoin in terms of investment also in form of money still this is not enough to make us decide to use our inherited money to invest on this risky option. You need to consider a lot of things especially the risk for deciding that since if you commit a mistake upon investing on bitcoin for sure you will get broke then lose the money supposed to be given then used for other good things, For sure there's a lot of blames will come on your side so think carefully regarding on your decision making on that.

Much better if you take all slow and just invest the money you have and don't touch those amount given so that you will not get broke instantly if crypto market fails or collapsed without you expect this to happen.

The reason for their choice is different. Giving their money to you if “something goes wrong” you'll be a fool (they will blame you for your failures). Your brothers want to transfer the risks of investing and storing bitcoin to you. Don't tie yourself down with responsibility for other people's money.

Limit yourself to brief instructions for using and owning bitcoin. Let them learn to do everything else themselves. You can't moneybabysit your relatives' investments forever. You are not some kind of broker receiving interest for this.

Let them learn to manage the contents of their pockets on their own.

Everyone is aware of bitcoins risk and as it possess profit so there are also some risk involved in it and as you are a part of bitcoin investment so surely you will better know this thing. Everyone can manage their own risk and can handle their own money but I will suggest you should not take this risk because if you Loss money then your brothers will always blame you for this and will ask for their money.

See your financial status if you can return such a big amount to your brothers after unfortunate loss then take this risk but think before doing this because we have to take decision after keeping in mind about both of the risk and benefits.

Condolences. Now for your dilemma, I think that you shouldn't do what your brothers want because I might be wrong but they'll probably try to trick you out of that when the time for the profit taking comes, that's the thing that will likely happen. They give a small amount of say 1k for example and you invest all of your inheritance, they will probably think that when it comes time to sell, that the split will be 1/3 for each so you end up with less even though you've got the biggest share of the investment. That's all that I can say to this and try to tell them that it's better if they just do the investing on their own and not mix their money with yours so there's no confusion for everyone, good use of the money but you're better off with your father still around  .

Firstly my condolences for your loss.

Only you should be the person investing in "your" bitcoin. Do not take the responsibility of your brother's money to invest in bitcoin just because they dont understand the risks and are thus unwilling to invest on their own and are putting it on your shoulders.

This can turn out really bad in case bitcoin drops - which it obviously will and then come back up again. But in the meantime you will have to face the heat from your family, leading to a household problem.

I would say take it slow, it has just been 3weeks, allow the grave incident to sink in and take your time out. Dont make rash decisions right away, they always end up in the bad way.

First of all OP condolence to your family.

For me there is nothing wrong of having your family's investments with you as long as they know how it works and they fully understand crypto, if not, that is a bit of a risky thing since Bitcoin is volatile and if they need that money back there is a high possibility of selling it at lower price especially in times of correction, plummet or crash.

But if they really insist then create one or two additional wallets containing their investments with Bitcoin depending on how they want it to be kept either separate or not but just don't put it together with yours. And don't forget to tell them about the possible risks.

If your siblings have stable source of income then it's good but if not I think this will be a tricky decision for them. Given that you are here in this industry for a long time I think you can handle this mate. Good luck to all of you.

the best suggestion I can give you is don't take responsiblity of other's money when investing in crypto. no matter if those are your siblings. because they'll always make you acountable for whatever happen with bitcoin and crypto market.
If by chance Crypto price drop and value of money drop. and they come to you and ask for their money for any reason. you tell them you can't return them the money because btc price low so if you sell them now they'll loose. think what will they say after that?
Only you understand about Bitcoin market, they don't. so better to let them manage their own funds. you can teach them if you want.

As already users already pointed out, if I were you I would be very careful with this situation because it can become extremely messy and bring to unexpected reactions. Family is family, but when there is money involved people change. I think you should explain them how to buy bitcoin, even guide them for example with the exchange registration process, KYC, placing the orders, buying a hardware wallet, etc etc, but they need to do this without mixing their funds with yours. Even for tax purposes, if they want to sell and you bought the bitcoins it could be a little tricky situation. Without even mentioning if for any reason you would lose access to their bitcoins... If they want to invest they need to grow up and learn, if they're not willing to understand the whole process then I wouldn't help them.

Even though we are brothers in the same family, when it comes to money it will make things worse. Therefore, no matter what reason your brothers give you, you should refuse and let them manage their investments themselves.

I also brought my younger brother into this market, but from the beginning I made it clear that each person should be responsible for their own money, not pooling it together to invest because if they lose, no one will be responsible. None of us are rich enough to be responsible for everyone, so we should be responsible with our money. Tell them that if they can't even manage money then they shouldn't think about getting rich.

You can't pool all the money in your family and invest in Bitcoins on your own. As the opportunity for investors to invest in bitcoins has come and the price of bitcoins is falling. If you invest in bitcoins and the bitcoins can go down from your invested money and everyone will blame you.

You can invest in Bitcoin on your own, no doubt, but whenever you pool your family's money and invest in Bitcoin, you're more likely to have trouble with your siblings.

Not only will they blame him, but cause him of misleading them into something that them loose fund. And sometimes will be asked to refund their money without considering it's a risky business. Whatever crypto investment anybody is doing should be done personally and not mass involvement because sometimes they will panic when there is dip and might night be patient as you are. And will force you to pull about the fund and shear it. While your goal hasn't been met.

Absolutely, I agree with you. Investing with family, especially in something as uncertain as Bitcoin, can really complicate things. It's smart to avoid mixing family and high-risk investments. Keeping relationships solid is way more important than any potential financial gain from such unpredictable ventures. Better to play it safe and keep family and finances separate, especially with the ups and downs of crypto.