My friend interested in investing in BTC but the friend's father does not agree - page 2.

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Quote from: panganib999 on June 10, 2023, 04:54:36 PM

He's not a minor anymore? He can earn his own dime? He can stand to move out if his father decides to kick him out if they learn about him investing in bitcoin? If your answer is yes, then he can stand to invest in bitcoin. I hate it when relatives and close family members stick their nose in everything including the way I work my money, so my usual solution to these kinds of problem is to outright cut them off entirely because the toxicity will only start and compound from there. They wouldn't stop snooping on everything, giving you unsolicited advice that is also backhanded at the same time for no fucking reason, until it's you who'll really decide to move out cause the toxicity is just too much for you to bear. This is also why I don't tell anyone what I do. Just keeps you from the trouble of letting people know and them throwing in advice that you didn't ask them for, plus stuff that you don't even want from them.

What fathers do is right out of concern for their children, they mean nothing else. like many here, we have no relationship with him, but most also advise him not to invest in bitcoin because of his special circumstances. he lives in a country that bans bitcoin and is a government employee and most likely the family's breadwinner. You do not know their family situation, do not instigate a separation of their family feelings. parents are the people who gave birth to us and always want the best for us. Just because of bitcoins that you are willing to cut ties with them, then your parents are unlucky to have a child like you.

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Quote from: Yatsan on June 10, 2023, 06:00:15 PM

If it's his own money, then he may hide it from his father. But what's important is if your friend fully understands whaat he is engaging himself with. He should be fsmiliar wwith the risk and the nature of the market prices wherein there will be times the market value of Bitcoin would fall which will display loss on his portfolio. This is for his own good and for yoy to not be blame if ever something unfortunaate would happen. And with regards to his father's opinion, we should accept the fact that not all people would be interested towards this industry and that's better than for them to push through without understanding a single thing.

Quote from: |MINER| on June 10, 2023, 03:49:30 PM

Since cryptocurrency is illegal in his country, I'd say he'd better stay away from investing with so much risk. I think it's not just about his money risk, maybe he got caught by the government while investing with his new hands and had to go to jail and lost his government job.
But it is also true that Bitcoin's decentralization is free from government bans. But since Bitcoin is still not so famous worldwide, he has to exchange it to use it or convert from fiat currency to buy it. This is where the risk lies, so tell him to avoid investment for now.

If they can find a way despite of the situation, and still decide to do so, I guess that's their own will and the only thing we csn do is support it as long as it is feaasible. For sure they know what would be the possible problems and it's their initiative to still continue.

I can see the reluctance of the father playing a major role in him deciding whether he would follow through with investing in bitcoin or not. Most Asian countries revere their father in a certain level that their words hold its weight in gold, even if it's something that is completely against the plans of their children. Which is why so many kids end up with jobs and careers they don't really like. In any case, since bitcoin's still illegal in their country it's best if they lay-low with it for now, or at least be discreet with their investments. The last thing they want is having their Police authority knock on the door and cuffing him cause he holds a few bitcoins in their wallet.

Lastly, of course as you said Yatsan, is to study and do your own research. The market is unrelenting and a lot of people lost money in this industry because they didn't think it would be that beneficial to not learn about the ins and outs of bitcoin first before investing. Don't be like those people and acquire ample knowledge before moving forward.

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Quote from: 2Pizza410000BTC on June 09, 2023, 07:20:33 AM

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An important thing to tell you is that in the country we live in, all types of cryptocurrencies including Bitcoin are officially banned and anyone involved in illegal transactions is subject to severe penalties.
As my friend works in government job and gets a good amount of salary with various bonuses and allowances at the end of the month and has quite a good amount of money left over after expenses. When I gave a positive idea about the present and future of Bitcoin, the friend showed great interest in Bitcoin and expressed interest that he would invest a certain part of his salary in Bitcoin at the end of the month.
But when the friend's father found out about this, he forbade him to invest in bitcoins and later predicted that he would be banned by the government and that he would have problems with his job. Yes but it is true that there is a possibility of loss if the government staff comes to know about this investment during government office.

His father is just protecting his son that's why he's against investing into Bitcoin. That's it.

Knowing that Bitcoin, and cryptocurrency are officially banned in your country, I don't see any bad intentions on the side of the father, but he's just protecting it. Since you said that cryptocurrencies are banned in your country, using Bitcoin is like fighting against the government. Yes there are some ways for a particular person to have access into Bitcoin, buy it, and hold it, but the question is, is it worth it knowing that anytime, The government might know that you're involved into it? I know how good of an investment Bitcoin (and how bad it is as well), but if it's banned in your country you have 2 options. Either access it at your own risk, or don't access it at all.

Quote from: 2Pizza410000BTC on June 09, 2023, 07:20:33 AM

But my friend is not listening and instead he will invest on Bitcoin. I don't know what kind of suggestion I should make to my friend in such a situation. Should I ask my friend to invest in Bitcoin? Or ask to pay more attention to his job?

Just let him decide LOL!!!

Is he a crybaby that can't decide on himself? Is he a toddler that needs to be taught? No he is a government staff like you said, so most probably he can decide on whatever he wanted to. He's working, so he has money to be used in investing.

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If it's his own money, then he may hide it from his father. But what's important is if your friend fully understands whaat he is engaging himself with. He should be fsmiliar wwith the risk and the nature of the market prices wherein there will be times the market value of Bitcoin would fall which will display loss on his portfolio. This is for his own good and for yoy to not be blame if ever something unfortunaate would happen. And with regards to his father's opinion, we should accept the fact that not all people would be interested towards this industry and that's better than for them to push through without understanding a single thing.

Quote from: |MINER| on June 10, 2023, 03:49:30 PM

Since cryptocurrency is illegal in his country, I'd say he'd better stay away from investing with so much risk. I think it's not just about his money risk, maybe he got caught by the government while investing with his new hands and had to go to jail and lost his government job.
But it is also true that Bitcoin's decentralization is free from government bans. But since Bitcoin is still not so famous worldwide, he has to exchange it to use it or convert from fiat currency to buy it. This is where the risk lies, so tell him to avoid investment for now.

If they can find a way despite of the situation, and still decide to do so, I guess that's their own will and the only thing we csn do is support it as long as it is feaasible. For sure they know what would be the possible problems and it's their initiative to still continue.

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Quote from: 2Pizza410000BTC on June 09, 2023, 07:20:33 AM

I will mention some things for everyone which is very important and based on your suggestions I will suggest my friend to invest on Bitcoin or prohibit not to invest on Bitcoin.
We were some friends passed higher secondary in 2019, among them one of my close friend who is in govt job but he is not into Bitcoin even he has no idea about this forum.
An important thing to tell you is that in the country we live in, all types of cryptocurrencies including Bitcoin are officially banned and anyone involved in illegal transactions is subject to severe penalties.
As my friend works in government job and gets a good amount of salary with various bonuses and allowances at the end of the month and has quite a good amount of money left over after expenses. When I gave a positive idea about the present and future of Bitcoin, the friend showed great interest in Bitcoin and expressed interest that he would invest a certain part of his salary in Bitcoin at the end of the month.
But when the friend's father found out about this, he forbade him to invest in bitcoins and later predicted that he would be banned by the government and that he would have problems with his job. Yes but it is true that there is a possibility of loss if the government staff comes to know about this investment during government office.

But my friend is not listening and instead he will invest on Bitcoin. I don't know what kind of suggestion I should make to my friend in such a situation. Should I ask my friend to invest in Bitcoin? Or ask to pay more attention to his job?

If your friend does shows up some interest on Bitcoin but you dont want on getting blamed then its better to tell him that it would really be just depending or according into him whether he would involved or not because you dont want to get blamed if he would be able to lost up his govt job which makes their life better.Its true that it is really that truly a risk on dealing up with something which you do know that it could really mess up your life specially if its banned or prohibited. Then it would really be just that right that you would really be having hindrance or having second thoughts on whether you should proceed or not. Thing here is that you shouldnt really be making out some guarantees about success or whatsoever because this would really be in resulting into those bad impressions on which it is something needs to be stopped while its still early. You wouldnt really be risking your friendship but also you would really be risking yourself on getting blamed if you do make out those assurances.

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Quote from: 2Pizza410000BTC on June 09, 2023, 07:20:33 AM

An important thing to tell you is that in the country we live in, all types of cryptocurrencies including Bitcoin are officially banned and anyone involved in illegal transactions is subject to severe penalties.

I checked your local forum, if i am not wrong you are in Bangladesh (Bengali Language), i have learned on the internet that Bangladesh Regulator prohibit trading. I saw on an article "Trading in cryptocurrency not allowed in Bangladesh" this arcticle said that Regulator Bank emphases to refrain all form of virtual coin or crypto currency trading. But how is your opinion? that if he invest in other country then withdraw into bangladesh in form of US Dollars or in fiat if supported.

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Quote from: 2Pizza410000BTC on June 09, 2023, 07:20:33 AM

But my friend is not listening and instead he will invest on Bitcoin. I don't know what kind of suggestion I should make to my friend in such a situation. Should I ask my friend to invest in Bitcoin? Or ask to pay more attention to his job?

What suggestions do you think you could give a fully grown adult who has decided to invest in bitcoin other than to advise him to make every effort to remain anonymous while investing in bitcoin, to use his spare money, and not to view bitcoin as a get-rich-quick scheme, and to keep all information about it a secret at all costs because bitcoin is illegal in your country. If he is ever caught by the government, he shouldn't point his finger or blame you for his downfall because he was aware of the dangers before him as a government worker and he decides to take the risk of his own will

panganib999

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He's not a minor anymore? He can earn his own dime? He can stand to move out if his father decides to kick him out if they learn about him investing in bitcoin? If your answer is yes, then he can stand to invest in bitcoin. I hate it when relatives and close family members stick their nose in everything including the way I work my money, so my usual solution to these kinds of problem is to outright cut them off entirely because the toxicity will only start and compound from there. They wouldn't stop snooping on everything, giving you unsolicited advice that is also backhanded at the same time for no fucking reason, until it's you who'll really decide to move out cause the toxicity is just too much for you to bear. This is also why I don't tell anyone what I do. Just keeps you from the trouble of letting people know and them throwing in advice that you didn't ask them for, plus stuff that you don't even want from them.

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Quote from: ilovealtcoins on June 10, 2023, 11:14:34 AM

Quote from: kryptqnick on June 10, 2023, 10:31:16 AM

To be honest, your story seems somewhat weird because it seems one has to be an adult to work for the government, and yet you say his father doesn't allow him to invest, which sounds more like something that can happen to a minor.

In our country, many people working for government agencies are only 30-40 years old, and that age still has parents. Furthermore, sometimes the jobs he received were handed down from his father, so many decisions required consultation with someone as experienced as our father.

I also agree with his father's advice, as his work is going very well, and the trade-offs are disproportionate. To be fair, bitcoin is still a question mark in the future, so trading a career just to invest in bitcoin is not worth it.

This is not ethical for me and we don't need to seek for the consent of our father for us to make some certain decisions. We are not supposed to seek the consent of our father to make some investment decision when it is certain that it is high time people need to start making decisions no matter how tough it is.

Those who are asking for permission from there parent to make investment decision that would help them to make a lot for money from the market are only playing. But the question I need to ask is that even though the money he is spending comes from the father's source, he shouldn't have to take permission to make decisions when life can be so funny atimes.

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You should not meddle in his own decision in life. I believe he’s responsible for his own future and knowing he’s already an adult, he should know what to do either to invest in an illegal investment or not. Especially that he’s a government employee, it’s obvious that he should serve more as a role model than to act as the first to disobey the rules just for his love for money. Although bitcoin investment is reasonable and profitable, but I guess in this kind of situation, he should preserve his job more than aiming good investment returns.

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Since cryptocurrency is illegal in his country, I'd say he'd better stay away from investing with so much risk. I think it's not just about his money risk, maybe he got caught by the government while investing with his new hands and had to go to jail and lost his government job.
But it is also true that Bitcoin's decentralization is free from government bans. But since Bitcoin is still not so famous worldwide, he has to exchange it to use it or convert from fiat currency to buy it. This is where the risk lies, so tell him to avoid investment for now.

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Quote from: 2Pizza410000BTC on June 09, 2023, 07:20:33 AM

But my friend is not listening and instead he will invest on Bitcoin. I don't know what kind of suggestion I should make to my friend in such a situation. Should I ask my friend to invest in Bitcoin? Or ask to pay more attention to his job?

I don't think in this situation there is a necessary to invest in Bitcoin so I will say that give your friend to not investment in bitcoin if he don't know how to use it secretly.
The big reason is he is a government employee and this can be a cause for his job suspension. So, since he wants to earn a stable income from his job, I think he should invest in Bitcoin to gain some extra profit with his risk. Another reason for suggesting that he not invest in Bitcoin is that he is new to the subject and naturally does not know much about security so his activities are more likely to be noticed by the government.
Tell him to wait until the government legalizes crypto currency.
If he still wants to do it, let him know about security first.

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Quote from: 2Pizza410000BTC on June 09, 2023, 07:20:33 AM

But my friend is not listening and instead he will invest on Bitcoin. I don't know what kind of suggestion I should make to my friend in such a situation. Should I ask my friend to invest in Bitcoin? Or ask to pay more attention to his job?

It is an obvious scenario. Bitcoin is banned in your country so trading or even buying Bitcoin can be called illegal trade which has penalty if caught. Why don't you suggest your friend to be a good citizen and follow the government law. This is saving you from any fault later if your friend's action is busted by the government.

Your friend is old enough to think for himself. He asked you about your opinion maybe because he wanted to find someone to blame in case he encounters trouble. If I am in your shoes, I would love to see my friend free from troubles and since your friend isn't lacking, why tell him to invest in Bitcoin and get problem later. If you are his true friend then you should prioritize his safety than promote illegal things just for the sake of Bitcoin adoption. Bitcoin will be adopted elsewhere, by the country that does not ban it. Keep your friend safe and advise him not to deal with Bitcoin because it is an illegal thing in your country.

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Quote from: kryptqnick on June 10, 2023, 10:31:16 AM

To be honest, your story seems somewhat weird because it seems one has to be an adult to work for the government, and yet you say his father doesn't allow him to invest, which sounds more like something that can happen to a minor.

In our country, many people working for government agencies are only 30-40 years old, and that age still has parents. Furthermore, sometimes the jobs he received were handed down from his father, so many decisions required consultation with someone as experienced as our father.

I also agree with his father's advice, as his work is going very well, and the trade-offs are disproportionate. To be fair, bitcoin is still a question mark in the future, so trading a career just to invest in bitcoin is not worth it.

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Quote from: 2Pizza410000BTC on June 09, 2023, 07:20:33 AM

I will mention some things for everyone which is very important and based on your suggestions I will suggest my friend to invest on Bitcoin or prohibit not to invest on Bitcoin.

It really depends on how much money your friend has, As in your title you are saying that your friend is ready to invest it means he is convinced and his father is not. If the money he wants to invest in his father's then buddy there is no way he can invest it because he doesn't own it and e can't even convince his father reason most f the time elders think that it's a waste of money. Their argument is valid on some levels because they earned that money through hard work and they don't want to ruin it for the sake of some extra profits.

This thinking pattern can be changed by educating the which is a difficult task but it's really possible, If your friend has his own money and he can afford to even lose it then he can convince his father by giving strong facts here proper education will not be required as the father can understand my son is earning now and he wants to find more ways to make his life easy. In the father's case, bro father has more responsibilities even after giving strong facts and shreds of evidence he can't take risks because he wants to feed his children and loved ones well.

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Op, from your story and writing style you seem pretty young, but in any case I just want to mention that if cryptos are illegal and penalties are harsh, it's worth strongly considering whether you should get involved (and your friend). If your friend has a good job, working for the government, this sort of illegal involvement could ruin his life. If his job has any impact on financial policies, he could advocate for milder policies or make it a long-term goal.
To be honest, your story seems somewhat weird because it seems one has to be an adult to work for the government, and yet you say his father doesn't allow him to invest, which sounds more like something that can happen to a minor.

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Quote from: ImThour on June 09, 2023, 06:05:36 PM

So if he's getting the money from his father who is not interested, no need to force them to invest. Your friend should start doing some gigs online or if he's young enough to get an actual job, go for it and invest out of it. And meanwhile, keep telling his father about the benefits of Bitcoin and what decentralization is and how it's saving people in country where the inflation is sky rocketing. Good Luck!

The benefits of bitcoin are undeniable. But in this case, the benefit of bitcoin will be nothing compared to his work. So no need to explain to his dad about bitcoin, what his dad said just wanted good for him. Bitcoin is a banned asset in their country, and he is a government employee with a very high salary. And if he quits his job to invest in bitcoin, there is no guarantee that bitcoin will bring him more than he already has.

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Your friend is big enough to make his own decisions on his own money. His father is just worried about the risk and the consequences of investing in Bitcoin, knowing that it is illegal in your country. But if your friend is really interested, he should start researching first about Bitcoin and crypto so he'll know what to do before investing. Also since it's illegal, he needs to be extra careful if he wants to enter the space.

Rather than persuading your friend to invest in Bitcoin, let him choose what to do. Tell him the risks, consequences, and benefits of it. Because personally, I don't want to somehow "force" other people to invest in Bitcoin if they are still in doubt. Since it's their money, it's their choice and I don't want to be responsible for that.

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If am the one I will analysis to my friends dad how interesting bitcoin his.... But is also on a high risk so anybody is not advised to jump in to the investment, it is essential to know or understand the basic concepts and principles. It is the most famous block chain project and also the largest cryptocurrency, it involve involve strategy on risk profile.

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Quote from: n0ne on June 09, 2023, 06:53:31 PM

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the best choice is to buy him little bitcoin and store in a wallet on his phone and ask him to have a watch on the variation happening. Surely he'll realise the need as well S understand well about the technology that can make change in the financial system.

Don't forget their country is a bitcoin ban, and OP's friend is a government employee. Telling him to invest more or less in bitcoin would also be very risky for him, it could even destroy his life and his whole family. Bitcoin is good, but it is not the only way to be successful, we have many other things that are as good as bitcoin. Moreover, he is having a well-paid job, which anyone would covet. The risk-benefit comparison clearly shows that the risks outweigh the benefits in this situation, so it would be foolish for the OP's friend to invest in bitcoin still stubbornly.

Bitcoin is a potential investment but also fraught with risk. It does not guarantee you a rich future, it does not provide a daily income for you and your family. It cannot be compared to a stable job with a high salary.

Topic: My friend interested in investing in BTC but the friend's father does not agree - page 2. (Read 606 times)