Topic: My friend interested in investing in BTC but the friend's father does not agree - page 4. (Read 631 times)

Ideally, it might be considered reckless in most cultures to not follow in the father's foot step, mostly as regards work and investment strategies, because the parents shape the economic view point of their children till adulthood when they earn for themselves. It would rather be wierd also if the father goes to work and the child stays back home to trade BTC. The father may think he is into internet fraud or scams if he isn't too enlightened to figure out.

Your friend has a future insight and that is why it is against his father's wish, because a slow and steady paycheck at the months ends is a successful endeavour compared to being subjected to price fluctuations, market trends and volatility affecting profits from an investment in Bitcoin.
Bitcoin investment is riskier compared to an investment with fiat that has been saved up or borrowed. However the view point, it is important your friend understand that not all your investment is family business. Some you got to do and find out for yourself, inorder to make it big time.

Some of us here are working for the government, some are working in private firms while some have their own companies or businesses and we still invest in Bitcoin, so I don't know why your friend cannot do both. You should encourage your friend to invest in Bitcoin because Bitcoin is financial freedom, it actually puts power into the hands of the people but sadly your government does not want this to happen, that's they came up with the ban. My advice is for him to be very discreet about his investment to avoid landing himself in any sorts of trouble.

So, do you feel guilty after suggesting your friend invest in bitcoin and you wish you could stop his interest knowing his parents disapproved of it?

First, you have introduced the best investment assets to your friends, that's great. Your friend is already interested in bitcoin because maybe he knows what the future potential of bitcoin is, so I think you just need to guide him not to open up to anyone about his investment. Let him choose his own path and his investments, and I hope you don't feel responsible for your attempts to introduce bitcoin to your friends.

There are several points that I'm interested in this, first maybe because of the bitcoin ban in your country I'm actually curious where you live because in this case I'm a little confused whether the ban is loose or not because if you really see the condition of bitcoin there it's illegal but it's still possible to is in bitcoins.
Secondly, parents' concerns may influence this matter because indeed in the mirror of things that are in an illegal direction, of course this is a violation of the rules and maybe parents are worried about it so they don't really agree with it. and the last thing is I still feel in this case when indeed we are already in the age or adult phase we actually have to be able to exercise control over ourselves. good or bad, we must be prepared to endure it regardless of the bond between father and child. In fact, when your friend is an adult, of course the path he takes must be according to his will because this is certain, because if he is always forced to submit, the child will not develop in this matter.
As for bitcoin and the investment that he did, if it does violate and there is a penalty if it is done then it's best to wait for this to subside but if the decision has been made then I think it's back to him. he is an adult and that means he knows what to do for himself.

There are various restrictions in government jobs such as any anti-national act or violation of law is a punishable offense. He should not be encouraged to invest in Bitcoin as it is not legal in your country. Because if he gets into any problem then he will blame you. You can share with him the pros and cons of investing in Bitcoin and if he joins on his own, you can help him. Many such countries have been able to earn big money investing in Bitcoin despite not having Bitcoin legalization. It will totally depend on your friend what he wants to do.

Just stay out of the way and let your friend do as they please. His life for his decisions. If in your country crypto is prohibited and your friend is also a civil servant, then he simply doesn't need to tell anyone about his investments. Taking precautions is unlikely to jeopardize his work and career. Another moment with his father's ban. Your friend should already be a big boy to make his own decisions, unless, of course, he is still dependent on his father, and in general, he should not have advertised his plans to his father. The older generation is very unlikely to understand the interest in crypto and they are not advisers in this area at all, because they know absolutely nothing about new technologies. Of course, this is not about all, but about the general trend. So, let your friend act as he intended, just keep quiet about his investments in job and with parents.

We think Bitcoin and investing do not transfer professions or make him lose his job, Investment does not require them to be Full time in it and this applies to all Investments, maybe it's just that it requires them to maintain or watch market developments, and this is not for all time, even it doesn't take half the time to do it, maybe he's banned, but it looks like if he himself is interested we think it can still be done quietly.

To be honest he is interested in a very good field, but it's just a family ban factor, this actually doesn't really impact his goals, with technology we think he can achieve both on the one hand he maintains his passion to invest in Bitcoin and on the other hand he can carry out his work without pressure from his investment.

Don't give bitcoin investment advice to anyone, especially if you live in a country where bitcoin is banned. It is not only causing trouble for you but also for your friends. If it were me, I would continue to do that nice job because, with the high salary and bright future, there is nothing to risk in investing in bitcoin. Instead, I will work hard and wait, because the government cannot ban bitcoin forever, sooner or later, they will lift the ban, and it is never too late to invest in bitcoin.

Your friend getting a job in the government with a pretty high salary is what many people dream of, and above all, it guarantees his future. Meanwhile, bitcoin is illegal in your country, and he is a government employee. If unfortunately, they find out he is secretly investing in bitcoin, his job and future will surely disappear.

Honestly, it's hard to give advice in this case. Bitcoin is a very promising investment, but if it were me, I would advise him not to rush to invest in bitcoin and focus well on his current job, as it will ensure his future, and bitcoin is not guaranteed. Bitcoin still has unforeseen risks. In his case, comparing bitcoin investment and his current job, his job is much more promising and safer than bitcoin. So he doesn't really need a trade-off. I will support his father's point of view.

Investing in bitcoin does not necessarily mean that he’ll leave his job after he will make consistent profits. Your friend should be highly practical and that he should keep his job while doing bitcoin investing as his side hustle. And if bitcoin is really banned in your country, then let your friend decide on it if he’ll take the risk or not. Tell him to DYOR first before he gets to invest in bitcoin, that way his job will not be put at risk if he continue to invest in bitcoin.

Since your friend wants to invest in Bitcoin, you should inform him about the risks of investing in Bitcoin in his country. He should be advised to use P2P exchange to avoid risk. There is a lot to learn when investing in Bitcoin, so get advice from people who have invested in Bitcoin that you know or who have gained a lot of experience in investing in Bitcoin, learn as a beginner without worrying about profit and after gaining experience, be sure that you can. One thing that is very important is to learn to invest in Bitcoin with risk and then gain experience from it.

That's your friend's problem, if parents are the ones deciding for their sons when they are not more a kid then it's nonsense, if I were the friend I would not let my father be aware that I have interest to invest in Bitcoin.

He should have known his father better, why did he told him about Bitcoin when he knew he won't agree? Is the son still getting feed by his father? Is this a yes then that's the problem, tell your friend to man up and start making decisions for himself.

His father will thank him later in the future.

As it stands, I believe the best possible advice is not to your friend but to you, since you are already handling a banned asset in your country and trying to introduce it to your friend and the father is kicking against my fear is how sure are you that the father of your friend will not see you as a bad influence to the son and try to report you to the law enforcement office?


I suggest you best avoid the idea of introducing Bitcoin to your friend, let him be and if he wants to take the risk then he can figure out how to do so, bitcoin is not a referral network so at that introducing it to somebody won't add anything to your pocket so at that you have nothing to gain regardless whether or not your friend invests in it.

Assuming this thread story is indeed real, it would depend on the contract that your friend had signed. Not sure about each government employee contracts, but surely there were never such clauses regarding that unless, just like others mentioned in here, there is a ban imposed in crypto in your country.

I don't think that your friend will be found hodling crypto anyway unless he's like the "feeling influencer" or "feeling like Elon Musk" kind of celebrity.

If it is illegal in your country then I understand why the father is against investing on it.
It might be a good investment but being illegal and risking your life for it, I don't really think that it is worth the risk even though it would be hard for them to trace it or track you.
It would be safe for your friend if he is using offline wallets to keep his investment so there wouldn't be any information linking his/her personal information.

when he has become more mature and can manage his finances, then free your friend of his choice. you just need to suggest what is the best and worst Bitcoin investment. but looking at the regulations in your country, as you said. of course, it increases the risk for you and your friends who choose Bitcoin. moreover, there is also a ban from your friend's father. I think there is no reason to oppose parents. besides, if your friend likes investing, there are other assets. there is no need to create trouble in our environment. just do what we can do.

Let your friends choose for themselves without involving you again as an advisor who introduced them to bitcoin, you have to get out of the zone if you don't want to involve you later because of mistakes made by your friends.

As a government worker, he should already know that his life is guaranteed, especially with those who oppose his father, he doesn't agree, so he has to listen to what his father says, because investing is not only in bitcoin, but also other important assets that provide profits every year.

With a country that prohibits bitcoin, this will be a risk, especially as a government employee, even though he can invest secretly, let him decide for himself, what we choose is his choice, including the risks he faces.

You appear to be from Bangladesh. And I've read that Bitcoin is indeed illegal in your country, but there are users here who are also from your country and are into Bitcoin. And I haven't heard of anybody getting arrested or fired from their job because of it. I don't know how the ban on Bitcoin is implemented, but I remember there's even a Bitcoin coffee shop there despite the ban.

I guess you just have to be discreet and quiet. After all, you're fully aware that it's illegal. But your friend doesn't have to choose between his job and buying Bitcoin. He certainly can have both.

From the information you gave Bitcoin is banned in your country. Which means owning it or using it for any transaction is a criminal offense. You have to obey the law of your country and abstain from owning Bitcoin. Owning Bitcoin might not affect his job because he might just be a holder and not a trader but you identified that it might lead to the loss of a well-paying job which is his major source of income. I will advise that he focuses on his job and search for other viable sectors where he can invest his money. This is because he might be unlucky to be caught by the police or other agencies which might lead to severe sanctions. Maybe in a few years, your government might change its stance on bitcoin which will make Bitcoin a legal currency and investment.

Be careful of the kind of advice that you give to your friend. The situation is a sensitive one and unless you want to end up being blamed for any outcome you need to be careful and at this time refrain and stop giving your friend any further advice on this situation.

Since your friend works in the government and earns well, there are other kinds of Investments that he can engage in, and you should let him know. If among the many options of investment he still chooses bitcoins and chooses the option of going against the wish of his father then that's his choice but let him do it out of his own free will and not under pressure from your advice.