Topic: I Want To Invest Money From My Inheritance In Bitcoin, But? - page 2. (Read 292 times)

Sorry I always got respect for you but this is the stupidest thing I ever heard?
Yes if you got a insecure family maybe? Or you tell it to your 12 year old young brother? Then maybe you're right.
But if that's not the case and you don't you lie to them and say its 100% profitable and you put it on the table and say the risks in a honest way tell them how to get their own wallet, and store their seed phrase's. then it's a perfect idea. Give a tip of invest that worked for you to your family is not bad, start a business with your family may be a terrible idea. But it's two different things. Responsibility? But your opinion and I respect it. 



First OP sorry for your loss of your father. I hope you will and your brothers will recover from that first when you got your head clear talk with your brothers and go for it!
Your family can take decision for themself right? Tell them about it honest and good and then they make the decision. I told my father about it 2 years ago. He got a work so he don't got time to buy and sell and go into forums and read, so he ask me time to time, it have make us get an new relationship and something more to talk about from the past when things was not as good, I love I did invited him to crypto and he is on good profit.
And never listen to insecure people do what is best for you and your family. your and your family is not their family. I would go for it, advice it straight and honest and do a plan, tell them about how to make their own wallet and store their seed phrase, where to buy where you know it's 100% safe. If your family is real they would never blame you if Bitcoin goes down. If so.. then they not real family.



Yes 100% and every man/women that is an adult is old enough to take own decisions. I was surprised about the first reply, why in the hell would they blame OP if they know the risk?
It's not like he promise gold and green woods and stuff *LOL*! If it works it works if not then not. they still family. Must have a strange family connection if gonna blame someone for a idea like this.



True. But still OP don't need to promise something that isn't true, right?  

OP, since you said you have been involved with Bitcoin for a long time, I think you have the right idea about Bitcoin. In my opinion you should introduce your brothers to Bitcoin. Tell your brothers about the risk of Bitcoin, its future price increase is uncertain, future losses can be faced thus give your brothers an idea. If your brothers are interested in investing in Bitcoin knowing the risks, you can make them invest separately by giving them an idea about the wallet. Make arrangements so that your brothers will not blame you in future. But don't invest all your and your brothers' money together.

It's not too important where the investment money comes from, but if you have a stance, take action. And your situation is a problem with your family members about investing in bitcoin, the solution is simply to tell them all your thoughts. Joint investments really have a lot of strings attached, and close relationships should not be tied here. I have also encountered problems with contributing capital, although it is not a story associated with bitcoin, but when I wanted to escape, it couldn't go smoothly at all because it affected the group. So try to express everything to them, and encourage them to be independent without depending on anyone.

Signing a contract might not solve everything if the BTC price drops. Remember, this is Bitcoin we're talking about - it's really unpredictable.

Even with a contract, your siblings might still be upset if they lose money. Are you ready to take that risk with your family ties? It's not just about the money; it's about keeping a good relationship with your bros and sis. Maybe think about a safer investment or get a financial advisor on board to guide you all.

Since you have experience with Bitcoin, you will understand better with a little talk. But first of all I want to tell you that never mix bitcoins with money from your siblings. Because we never want any trouble between brothers and sisters and good relationship between brothers and sisters is not broken throughout life. You invest your own money in Bitcoin. If they don't want to, they don't need to invest their money in Bitcoin. I understood from your post that your sibling relationship is not very good, if your sibling relationship was good then your land would not have been sold on partition.

It seems that your family members are using you as a safety net. Pardon for the words but they probably do not want to take responsibility of their own money in case they make grave decisions hence why they are putting all the responsibilities onto your shoulders. When time comes and you lose their money, you are the one to blame because everything was put under your care.

I suggest that you do not cave in and try to encourage them more to create their own wallets and try to research more about bitcoin as to not to make uneducated decisions. Family is complicated especially if you involve money so be careful and think objectively.

When investing, I usually reserve half of the assets I have in my investment account, not all because I use the other half to handle monthly needs and it is very risky if, for example, we put all our funds into investment. If there is a correction where the need at that time is also needed, we will be forced to sell our assets at that time and this happens very often.

As most people pointed out, that's not a good idea. If they are really keen on investing into Bitcoin you can show them the way. You can tell them which wallet to use, how to keep it safe. I don't know how close you and your family are, but based on my experience I don't think it's right to keep coins in someone else's name. Don't be responsible for that, things may not go as planned.

Your siblings are not yet as experienced as you are in the investment of Bitcoin, it is better for you to only invest your money and not invest the money of your siblings because they are not experienced in the Bitcoin investment space. If you invest their money, you can not assure them when they should expect profit and you don't share the same needs with them. They can ask you for their money when they have need for the money and it could be when the price of Bitcoin is not good that they will request for the money.

Investment on bitcoin is very good investment but you shouldn’t use your family money like inheritance or any others because investment on bitcoin has enough risk. Because its price is not stable. Its price fluctuates constantly, so in an emergency, you may want to sell your bitcoins for bitcoins. This will destroy your inheritance wealth. This resource is very valuable so you should take care of it.  And they should never be invested in a risky position.You must invest in Bitcoins for your personal earnings. And of course you must have the ability and patience to invest in Bitcoin long term.

When teaching people about bitcoin, I think it’s important we let them hodl their coins by themselves. Acting as a middleman or manager may give them the wrong sense of what Bitcoin is. They already have an idea of bitcoin being an investment, which is true but there is more to Bitcoin than being an asset. We should advocate for self custody, this will help them a lot as they come into the crypto space.

Thank you everyone for your input and feedback.
Actually, what you thought and mentioned crossed my mind, but this situation makes me a little confused, because losing a father who can be a friend is something painful and difficult to forget.
And maybe what I will do with both of them is, I will ask for lots of time to make decisions in a calm state. However, my decision to invest my own money will soon be implemented and I just have to wait for the right time, and for now what comes to my mind is that when the time is right, I will advise them to do it themselves. And keep it under my supervision until they really understand everything including the risks, and all that after I educate them how to use it and all the basics.

Once again, thank you everyone. And maybe in the near future I will lock this thread.

This is what happens when you tell family and friends about your bitcoin investments. I guess you told your brothers about the money you made from your bitcoin investments, and that is the reason why they are interested in buying bitcoins at this time. If you choose to help them with their investments, bear in mind that you are dealing with people who do not understand the bitcoin market and they will hold you responsible if their expectations are not met.

That would be the most possible way to happen after seeing your investment dropping its price. They will end up blaming you because you never warn them of its possible risks, when in reality you did but they are blinded by greed. Same like they will also blame you if they see you profiting while leaving them not growing their money at all.

There's no way you can win from this type of mindset. The best solution is let them invest but only on the amount that they can afford to lose. Otherwise, they will lose everything they have in just a blink of an eye.

If that's the case for you both right now and your brothers are still insistent about pooling money, you might want to think about coming to an agreement. I mean, you may suggest setting up a shared wallet with explicit guidelines for making decisions and allocating gains and losses. You guys can set clear and mutually understood terms to prevent future misunderstandings.
You mentioned that you have been investing in bitcoin for a long time, so perhaps they wanted to learn about it step-by-step with your guidance and informational conversations. This is why, in my opinion, they have been doing it like combining their money with your money to invest in bitcoin because they are complete beginners, and that may be their alternative choice to come to you and invest using your bitcoin wallet. I think that regularly updating your brothers on the status of the investment allows you to revisit the decision-making process and impart knowledge to them.

As suggested above.  Do not mix family and money.  It is almost ALWAYS a mistake.  Even families who had generations of doing business together end up breaking the entire definition of family apart due to the business.  You will be happier whether Poor or Rich.

If you really want to help, teach them how to use Bitcoin.  Let them do their own thing then.  And even just teaching them how to use Bitcoin can lead to fights.

What if you all invest and all of a sudden one of you needs money quickly from the collective Wallet.  It would be so much better if each of you is on their own.  You may be suspected of things, it brings a lot of negative possibilities.  Help them if you want, but go all alone on your own investment.

I think you need to have an open and honest conversation with your brothers about the potential risks involved in investing, especially in a volatile market like cryptocurrencies. Make sure they understand that the value of Bitcoin can fluctuate significantly and that there are no guaranteed returns. Additionally, discuss your investment strategy and the long-term approach you plan to take. If they are comfortable with the risks and align with your investment philosophy, you could consider moving forward.

But take the time you need to grieve and make decisions when you feel ready.

You know what, this is really hard to decide because you also don't want them to feel bad against you. But you know exactly the nature of bitcoin investment, it can instantly make you rich in the long run but it can also lose all your capital if the price drops significantly and you started selling at a loss. I guess if they can see it with their own two eyes how bitcoin is so much volatile, then they will not take the risk investing their money.

But what they see in you is different from what everyone say. Your life has become in progress, and most probably they also want to experience the same that's why they are determined to invest in bitcoin as well.

For now, tell them to educate theirselves first and let them enter the bitcointalk forum so they will know exactly what you are talking about. If they become active members in the forum, I guess that's the only time they will know that investing in bitcoin is not a get rich quick unlike most crypto influencers say in the social media.

This is a bad idea, you will be basically working as their unpaid investment manager, bear all the risks and get nothing from it. Situations like this is why it might be best to keep your Bitcoin investment a secret even from close family, because you gain nothing from telling them and can only create problems.

Here's another one: if you don't do it, and Bitcoin goes up a lot, they'll still blame you for missing out.
Family and money can end badly in so many ways.