So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
from your post, it seems that your friend has very little to no knowledge about Bitcoin. bitcoin is volatile, and investing in it without knowing anything about its market could lead to financial loss. the best thing you can do for him is tell him the risks he is going to take by investing in Bitcoin, if he is still interested after you lay out the risks to him, encourage him to learn more about Bitcoin before investing any money in it. 
Topic: Interested in investing in Bitcoin my childhood friend after losing business - page 3. (Read 455 times)
June 17, 2023, 11:48:04 AM
June 17, 2023, 11:37:43 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it. My friend works in a private company and he has saved some money from there. With that money they went into business in a four person partnership, initially he made some profit in the business then he suffered some financial loss. My friend knows that I am involved with Bitcoin. He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
Educate him first about bitcoin and its highly volatile crypto market. Talk about the risks and challenges when investing in bitcoin, and how it can bring life changing profits or losses in your life. Tell him to do his own diligence to research more about bitcoin and when he’s done, let him decided on his own if he’s still willing to invest or not. That way, whatever the consequences he may face, at least you’ll not be the one to be blame when he suffer some losses. 
June 17, 2023, 11:35:11 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it. My friend works in a private company and he has saved some money from there. With that money they went into business in a four person partnership, initially he made some profit in the business then he suffered some financial loss. My friend knows that I am involved with Bitcoin. He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
If your friend wants to invest in bitcoin, then why shouldn't he do it, since he is already interested in it. But first, let him invest a small and insignificant amount. Even with the fact that you didn't tell him about the risks, nothing bad will come of it. But his wish will be fulfilled, and he will also get the first experience of interacting with btc. Then, let him act at his own discretion, whether to increase the investment portfolio or not. P.S. Of course, you must tell your friend about the risks and other nuances associated with cryptocurrencies, such as safekeeping. But judging by that story with his business of four participants and subsequent financial losses, then your friend, by personal example, faced risks and, in fact, already has an idea about this.
It will also be important to inform him that you don't have unlimited knowledge about bitcoin and therefore, after your introductory information about it, he himself will have to look for and study additional information about btc. Fortunately, in the age of the Internet this is easy to do and the bitcointalk has already existed for many years.
It will be good if one day your friend will create an account here and tell this story already on his own behalf mentioning you.
June 17, 2023, 10:30:56 AM
Don't convince him to invest in Bitcoin because you're involved in Bitcoin, if he's only looking to earn profit in Bitcoin, it's better if you tell all the possible bad reason can happen if he invest in Bitcoin e.g. must hold at least for four years, must learn about security, trust no one etc. If he can't accept that, you should advice him to invest what he believe and don't become a friend who's advice or making a decision for your friend because if he lose, he will mad to you.
June 17, 2023, 10:26:16 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it. My friend works in a private company and he has saved some money from there. With that money they went into business in a four person partnership, initially he made some profit in the business then he suffered some financial loss. My friend knows that I am involved with Bitcoin. He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
What's the fear that you have talking about the risks involved with investing in Bitcoin or cryptocurrencies in general? What's the worst that could happen? He might change his mind, so what? He needs to know everything before he gets himself involved so that he doesn't call you out later on if his investment doesn't go the way he might have expected, so for the sake of your own safety, you should tell him everything very clearly.I would suggest you tell him everything you can that you know and then tell him to do his own research for the peace of his mind, because you might tell him everything but he may miss some information from you that he might find somewhere else, so it's always better to advise someone do to their own research as well before making any investments.
June 16, 2023, 03:36:00 AM
If it were me, I wouldn't give any advice to my friends because I don't want to be blamed or our friendship will be ruined because of money. Instead, I will give him all the documentation and knowledge about bitcoin I know to him. I would advise him to find out everything before making a final decision.
I don't know if you don't want or haven't had a chance to explain the risks of bitcoin to your friend. But I think you should focus on that rather than just talking about bitcoin profits. Hiding it won't help your friend get better results in investing.
This is exactly why I do not ask my friends to invest, hell it is not even nice to ask for birthday gifts lately I learned. My birthday is coming up, and they were all coming to celebrate with me, and there was this game I wanted to play, and told them you do not have to get me any presents, just get me wallet code so I can buy the game, and some of them took offense to that for some reason.I don't know if you don't want or haven't had a chance to explain the risks of bitcoin to your friend. But I think you should focus on that rather than just talking about bitcoin profits. Hiding it won't help your friend get better results in investing.
However, when money is involved, it is not nice to do anything for a friend but help, if you help them get more that's lovely, but if it goes down then it is going to ruin some part of your friendship and shouldn't be done at all. I hope that it gets better in the future and humans could finally talk about money a lot easier without worrying about it, but I can't really bother with it until then, just let them do what they want and I won't be part of it.
June 15, 2023, 12:12:32 PM
You should share your own experience with Bitcoin to provide a real perspective. Sharing your own journey and experience can help your friend better understand the potential rewards and challenges associated with investing in Bitcoin. Furthermore, you must emphasize risks and encourage thorough research to avoid misconceptions and unrealistic expectations. This can help your friend develop a comprehensive understanding of Bitcoin and its investment potential. Encouraging them to delve deeper into Bitcoin technology, market dynamics, and potential risks will equip them with the knowledge they need to make informed decisions.
June 15, 2023, 11:53:25 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it.
Take it easy on the financial advice that you give when you are not a financial expert, even if it is to your friend. A funny but wise video that I saw sometime about giving advice to friends when they demand it, says we should always add "well, I don't know though" at the end of every advice you give in field where you know you are not an expert. Funny, but the purpose is to act as a disclaimer should they want to blame you tomorrow for any action they finally take.
My friend knows that I am involved with Bitcoin. He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
Your friend should know everything about what he is about getting into. There is no need witholding any information even about the risk involved from him. Him understanding the risk involved, will help your relationship with him so he does not blame you tomorrow for not letting him know. June 15, 2023, 11:25:55 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it. My friend works in a private company and he has saved some money from there. With that money they went into business in a four person partnership, initially he made some profit in the business then he suffered some financial loss. My friend knows that I am involved with Bitcoin. He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
Your friend is a smart person for sure; he knows what he is getting into, and even if you don't tell him the risk, he will eventually know it, as he has been a business owner before, and their number one thing to do is do research on risk and how to lessen it. What I've suggested you do is guide him on where to start, introduce him in this forum, provide YouTube videos and articles, and mostly tell him that investing in Bitcoin is like riding a roller coaster.
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June 15, 2023, 10:57:18 AM
It's not a bad idea to introduce something relevant and very cool to people, mostly when you stand as evidence of success in what you preach. I don't know if you have bought some bitcoin already because it will build full confidence in you to convince your friend you have enough experience with bitcoin. Imagine someone who bought Bitcoin at $30k and sold it at $20 because of panic telling another of his friends to come and invest in Bitcoin. You have seen the other important things that other members here deem necessary to educate your friend about before investing in Bitcoin.
In bitcoin investment, security and privacy should be his priorities. Every investor must know that investing in Bitcoin is not mostly a short-term investment.
In bitcoin investment, security and privacy should be his priorities. Every investor must know that investing in Bitcoin is not mostly a short-term investment.
June 15, 2023, 09:52:42 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it. My friend works in a private company and he has saved some money from there. With that money they went into business in a four person partnership, initially he made some profit in the business then he suffered some financial loss. My friend knows that I am involved with Bitcoin. He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
It's fantastic to invest in bitcoin because I see it as good investment. But now that your friend has made the decision to invest in bitcoin, make sure he understands every aspect of it. If you can, try to teach him more about it or provide him some articles.I tell him to read up on Bitcoin and conduct independent research on it.
Giving your friend an advice to invest in Bitcoin may not be a good idea as for me because he may not understand how the Bitcoin market operates. However, I will advise you to encourage him to do his own research, and I believe that will help you if anything goes wrong in his Bitcoin investment in the future. This is because Bitcoin is a volatile digital currency, and its price may drop to a certain level as a result of a bear market currently. New investors may easily get worry if market didn't go the way they want and they may end selling their investments at lost, and after they will like to to blame on anyone that advice them to invest.
June 15, 2023, 08:28:12 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it. My friend works in a private company and he has saved some money from there. With that money they went into business in a four person partnership, initially he made some profit in the business then he suffered some financial loss. My friend knows that I am involved with Bitcoin. He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
Tell him a little about the risk management system. Buying bitcoin is probably less risky when buying other cryptocurrencies, but the crypto market loves to take money from newcomers. If he invests all his money in bitcoin, then he too may lose the investment or lose bitcoins on the exchange. Advise him a good secure wallet. June 15, 2023, 08:23:10 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it. My friend works in a private company and he has saved some money from there. With that money they went into business in a four person partnership, initially he made some profit in the business then he suffered some financial loss. My friend knows that I am involved with Bitcoin. He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
Business helps a person to develop a lot financially, but to get something good from business, he must learn business techniques. but a person doesn't need to do much analysis or strategy to invest in bitcoins, just buy and hold bitcoins to get profit. But investing in Bitcoin is much higher risk than business. you should explain this to your friend first. If your friend can accept this risk then he can invest in Bitcoin. But another thing you should do is teach your friend how to hold bitcoins safely and then your friend can make his personal decision whether to invest in bitcoins or not. 
June 15, 2023, 08:22:52 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it. My friend works in a private company and he has saved some money from there. With that money they went into business in a four person partnership, initially he made some profit in the business then he suffered some financial loss. My friend knows that I am involved with Bitcoin. He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
Investing in Bitcoin always involves risk and a long wait for the profit, it will have a serious strain on your relationship if he invests and you did not tell him the many things including the risks involved in investing in Bitcoin, you have to be honest and open to your friend if you have told him about the good side, you should also tell him about the bad sides.
Now after you told him both then ask him and let him decide if investing in Bitcoin is something that he really wants, after he loses his business ventures, he understand the risk factors in investing in every venture, so he can decide but you have to be honest.
Because of the high volatility in investing in Bitcoin, investors should be aware of the many sides of investing in a highly volatile market, your friend has the right to know, so give to him.
June 15, 2023, 08:18:06 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it. My friend works in a private company and he has saved some money from there. With that money they went into business in a four person partnership, initially he made some profit in the business then he suffered some financial loss. My friend knows that I am involved with Bitcoin. He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
He might suffer for another financial loss again if he will not be careful on dealing with Bitcoin. So best is to advice him to read or research first before entering the scene since telling him to invest at this early might give him wrong expectation that if he invest a large amount of money he became rich so quickly. So guide him up by sending some good article to read like its benefits and also the scams then the other risk involve.
June 15, 2023, 08:11:20 AM
How many accounts do you have, OP? You appeared on the forum for the pizza baking contest; therefore, you can hardly be called a newbie, since your goal was defined as getting merit. But you, like many from your country, Bangladesh, forgot to mention that Bitcoin is banned in your country. Therefore, talking about investing in Bitcoin and, moreover, campaigning your friend would be another crime under the law. As I have repeatedly said on similar topics, it is strange to me why people advise people but cannot show them the right way out. Show your friend the way to the forum. If he is not a stupid person, then he will find the right answer for himself. It's always better to hear the opinion of the majority of people, have several options, and do your own analysis.
June 15, 2023, 07:51:46 AM
I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
if you also invest in Bitcoin, then you can tell everything you know to your friends. including the risk of Bitcoin investment. but you also have to provide a solution to minimize the risk. such as having a hardware wallet to store Bitcoins and several ways to deal with panic situations in market conditions.Your friend has good intentions to improve his finances. but I hope your friend still has income from his work and does not consider this investment as a source of income.
June 15, 2023, 07:39:06 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it. My friend works in a private company and he has saved some money from there. With that money they went into business in a four person partnership, initially he made some profit in the business then he suffered some financial loss. My friend knows that I am involved with Bitcoin. He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
Investing in Bitcoin is always never a problem, But getting the knowledge and understanding of how the industry works before getting involved, basically educate him on the risks that are associated with trading cryptos and the volatility nature of Bitcoin as well, hence their is a second chance that he's also going to lose if proper knowledge is not gained or acquired. June 15, 2023, 07:38:35 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it. My friend works in a private company and he has saved some money from there. With that money they went into business in a four person partnership, initially he made some profit in the business then he suffered some financial loss. My friend knows that I am involved with Bitcoin. He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
If the desire to invest comes from the bottom of his heart, you also won't go wrong if you tell him the advice for investing in Bitcoin. As long as you also have to say how the risks are so that he can understand the risks and be able to deal with them himself when what he hopes for doesn't happen to his investment, apart from that you also have to advise him to keep working at a company or open another business that he can master so he can continue to earn real income while waiting for income through the investment he wants to make.
After all, the failure he has experienced can also be a valuable experience and the key to starting another business with the hope of becoming more successful, because there are many investors who, after investing, still work at their main job. So it won't be wrong if your friend also tries to keep working while investing in Bitcoin, that's a little advice from me to your friend.
June 15, 2023, 07:30:02 AM
For several days now my friend has been asking me for some advice. Telling me that he wants to invest some of his money, telling me where to invest it.
Introduce bitcoin to him, let him have interest and don't force him to invest, ask him to research about it personally and ask you on areas he's not clear with, let him know the risk involved and make decisions for himself, you can site out many examples for him to learn from and probably introduced him to the bitcointalk community here to deepens his learning if found interested in bitcoin, additional, advise him to also invest on other profitable assets aside bitcoin like gold or real estate investments to have more than one investment made.
He got some ideas about Bitcoin from me. So he wants to invest money in Bitcoin. I didn't tell him anything about the risk of investing. Since he wants to invest, should I advise him to invest?
It will be very bad of you not telling him the risk involved because bitcoin is not a scheme to make money as they like or thought, which this is part of what he would have expected from you to tell him that han discovering losses after he invested, it may appears you're a liar or hide things from him about bitcoin which he should have known.
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