My friend's investment in Bitcoin | Bitcointalksearch.org

Litzki1990

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Quote from: Mate2237 on May 23, 2023, 05:40:01 PM

Op you really tried for telling your friend about bitcoin but before I understood what you were trying to convey there was not easy for me to understand them. Please read other people threads to learn how they structure and write their words. In this forum your will learn plenty things, and not only bitcoin and other Cryptocurrencies.
Your friend was also serious to learn the blockchain and that was why he learned fast and invest on his own.

OP explains that one of her friends visited their house one day and she discussed Bitcoin with her friend. After hearing a discussion about Bitcoin, his friend expressed interest in investing in Bitcoin. He shared all this information with us after his friend invested in Bitcoin after expressing his interest in Bitcoin. OP must be thanked for this reason because through him his friend invested in Bitcoin and I believe his friend will share the idea about Bitcoin that he got from him to some more people. This will increase the number of new investors in Bitcoin.

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Quote from: BALIK on May 24, 2023, 08:00:31 AM

I disagree with saying that there is not too much risk in investing in bitcoin. Except the short-term volatility of bitcoin will most likely cause us to panic, lose patience, and dump, leading to losses. The future of bitcoin is still a question, we don't know if its future will continue to grow or will disappear without a trace one day. It is another risk when investing in bitcoin that we also need to be aware of when investing.
If investing in bitcoin didn't have too much risk and had the opportunity to yield huge returns, I believe we would all have sold houses, sold cars to invest in bitcoin, and everyone would be rich Cheesy

.

That's right, no one can guarantee anything when it comes to high-risk investments. And everyone who buys bitcoin understands this, especially in a bear market, the understanding of risks is especially well. Grin

But when a bull market begins, many people forget about this danger and there are always those who are ready to sell real estate in order to buy bitcoin, but do not always have smart to sell on time and then lose everything when they are unable to cope with the price drop.

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Quote from: Bd officer on May 11, 2023, 12:06:56 PM

Did I give my friend the right advice?

I think you did give your friend good advice since you told him about Bitcoin and its risks when you invest in it. It would be better if you told your friend to only invest what he can afford to lose in cryptocurrency. As you have said, his salary is about $400 per month, and what he invested is more than what he earns within a month. Did you also tell your friend to learn more about Bitcoin and to use this forum if he wants to learn more and can also ask questions? In my opinion, I think your friend will find out about BitcoinTalk soon when he does some research, just like the other people who came across this forum when they were searching for something to learn more about Bitcoin.

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Quote from: Mate2237 on May 23, 2023, 05:40:01 PM

Op you really tried for telling your friend about bitcoin but before I understood what you were trying to convey there was not easy for me to understand them. Please read other people threads to learn how they structure and write their words. In this forum your will learn plenty things, and not only bitcoin and other Cryptocurrencies.
Your friend was also serious to learn the blockchain and that was why he learned fast and invest on his own.

It's never easy to actually understand what it takes some time to understand the fundamentals, and learning how the entire Bitcoin ecosystem functions require a lot of patience, gradual understanding, and lots of research. For this reason, many people find it difficult to keep up with Bitcoin, they constantly seek out the easy solution. However, some aspects of Bitcoin are not that simple, but at the same time technical aspects of it. If you start investing and start having emotional breakdowns, you need to be emotionally stable. everyone trying to invest in Bitcoin should know the risk behind it.

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Quote from: Vaculin on May 23, 2023, 05:59:21 PM

Quote from: Bd officer on May 11, 2023, 12:06:56 PM

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin.
Did I give my friend the right advice?

You have given him the right advice he needs to hear. Maybe it’s already his own decision to invest with quite a bigger amount knowing he earns only $400 a month. I just hope he is aware that he can lose all his capital if he makes a single wrong move in his investment. However, for sure he will also learn something if he will lose his money in this investment. After all, losing is inevitable, we just have to be more open minded about it not just for bitcoin investment but even in other investments existing in the market.

We don't know if he used his savings or salary to invest, so it can't be said that he is risking more than he is earning. But I like your investment mindset, once invested, there will always be unforeseen risks. Therefore, when investing, we need to be psychologically ready, if there is a loss, we should not be too shocked or disappointed. But be open-minded, accept failure, and find a way to make up for that loss. I believe that people who invest in bitcoin, even those who have been successful, have had a few losses, and that is normal when investing. We need to be open to that.

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Quote from: Xampeuu on May 24, 2023, 03:45:42 AM

Quote from: Vaculin on May 23, 2023, 05:59:21 PM

Quote from: Bd officer on May 11, 2023, 12:06:56 PM

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin.
Did I give my friend the right advice?

You have given him the right advice he needs to hear. Maybe it’s already his own decision to invest with quite a bigger amount knowing he earns only $400 a month. I just hope he is aware that he can lose all his capital if he makes a single wrong move in his investment. However, for sure he will also learn something if he will lose his money in this investment. After all, losing is inevitable, we just have to be more open minded about it not just for bitcoin investment but even in other investments existing in the market.

if he has studied about bitcoin and decided to invest, then it is not our fault if something bad happens. Of course, as long as he studies it, he already knows the consequences that will be borne if something bad happens. but actually there is no big risk when investing in bitcoin, only those who panic who experience losses. as long as investing can be psychologically controlled, I think the money will be safe even waiting for the bearish season to finish, and unfortunately no one knows how long it will end

We can only call it losses when they panic sell. You have a point that losses only occur when they panic sell or sell their bitcoin as they can't control their emotions. When it comes to risk, if the friend really has knowledge on it, like he does his own research, he will definitely come up with the risk, which will mostly show up on you as the risk of losing your money is big.

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Quote from: Xampeuu on May 24, 2023, 03:45:42 AM

Quote from: Vaculin on May 23, 2023, 05:59:21 PM

Quote from: Bd officer on May 11, 2023, 12:06:56 PM

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin.
Did I give my friend the right advice?

You have given him the right advice he needs to hear. Maybe it’s already his own decision to invest with quite a bigger amount knowing he earns only $400 a month. I just hope he is aware that he can lose all his capital if he makes a single wrong move in his investment. However, for sure he will also learn something if he will lose his money in this investment. After all, losing is inevitable, we just have to be more open minded about it not just for bitcoin investment but even in other investments existing in the market.

if he has studied about bitcoin and decided to invest, then it is not our fault if something bad happens. Of course, as long as he studies it, he already knows the consequences that will be borne if something bad happens. but actually there is no big risk when investing in bitcoin, only those who panic who experience losses. as long as investing can be psychologically controlled, I think the money will be safe even waiting for the bearish season to finish, and unfortunately no one knows how long it will end

I disagree with saying that there is not too much risk in investing in bitcoin. Except the short-term volatility of bitcoin will most likely cause us to panic, lose patience, and dump, leading to losses. The future of bitcoin is still a question, we don't know if its future will continue to grow or will disappear without a trace one day. It is another risk when investing in bitcoin that we also need to be aware of when investing.
If investing in bitcoin didn't have too much risk and had the opportunity to yield huge returns, I believe we would all have sold houses, sold cars to invest in bitcoin, and everyone would be rich Cheesy

.

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Quote from: Vaculin on May 23, 2023, 05:59:21 PM

Quote from: Bd officer on May 11, 2023, 12:06:56 PM

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin.
Did I give my friend the right advice?

You have given him the right advice he needs to hear. Maybe it’s already his own decision to invest with quite a bigger amount knowing he earns only $400 a month. I just hope he is aware that he can lose all his capital if he makes a single wrong move in his investment. However, for sure he will also learn something if he will lose his money in this investment. After all, losing is inevitable, we just have to be more open minded about it not just for bitcoin investment but even in other investments existing in the market.

if he has studied about bitcoin and decided to invest, then it is not our fault if something bad happens. Of course, as long as he studies it, he already knows the consequences that will be borne if something bad happens. but actually there is no big risk when investing in bitcoin, only those who panic who experience losses. as long as investing can be psychologically controlled, I think the money will be safe even waiting for the bearish season to finish, and unfortunately no one knows how long it will end

Vaculin

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Quote from: Bd officer on May 11, 2023, 12:06:56 PM

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin.
Did I give my friend the right advice?

You have given him the right advice he needs to hear. Maybe it’s already his own decision to invest with quite a bigger amount knowing he earns only $400 a month. I just hope he is aware that he can lose all his capital if he makes a single wrong move in his investment. However, for sure he will also learn something if he will lose his money in this investment. After all, losing is inevitable, we just have to be more open minded about it not just for bitcoin investment but even in other investments existing in the market.

Mate2237

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Op you really tried for telling your friend about bitcoin but before I understood what you were trying to convey there was not easy for me to understand them. Please read other people threads to learn how they structure and write their words. In this forum your will learn plenty things, and not only bitcoin and other Cryptocurrencies.
Your friend was also serious to learn the blockchain and that was why he learned fast and invest on his own.

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Quote from: Pandu Geddon on May 22, 2023, 03:41:27 PM

Quote from: GideonGono on May 21, 2023, 08:34:09 PM

Quote from: Bd officer on May 11, 2023, 12:06:56 PM

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin.
Did I give my friend the right advice?

You mention how things could work out, that investing could give him a profit or a loss so you just opened a door for him, it is his own choice if he would go in or walk away from it.
The best thing that you could do now is to guide him on how to manage his investment.

his friend who sees other people's success in investing in Bitcoin might look easy. and that is a motivation to be able to follow starting investing in Bitcoin will definitely happen. but also teach the risks, not only the success you get.
and most beginners are too hasty in starting. they rush to enter the market and buy assets. it wasn't long before they left disappointed because they felt cheated by the fast-moving market. make sure our friends really know how the crypto market works and also how we overcome it all.

Most beginners would really be having this kind of common reaction on the time that they would hear out some money earning opportunity on which it would really be just that not shocking that they would be diving in without tending to know on whats the risks involved and as a friend then you should really be that mindful on telling about the risks and not re ally just only focusing about its pros.

We know that there are people who are really that making some suing later on on the time that they would be losing money. We know that relationships be wasted in speaking about money.
You know that there are people who could really totally exchange that for money or once that problems would exist. This is why you should really be speaking about its pros
and cons so that on the time that the market would really be giving out some reds or declines then you wouldnt really be worrying yourself on getting sued or blamed out.

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Quote from: cydrix on May 20, 2023, 09:22:04 AM

Particularly at this time, investing $500 in bitcoin as a rookie is too. It is fine that you informed him about bitcoin, but you ought to have given him appropriate advice. There are many things that are lacking... He tried the Dollar Cost Average approach for what reason? What if he had only put down $50 as opposed to $500? Think about how he would react if his investment fell from $500 to $90 as opposed to $50 to $30. I hope my example makes my argument. Therefore, you still need to teach him.

Trading is dangerous, with an 80% chance of losing everything. The market does not always go as planned, which is why we should always be prepared for the worst. We should not be afraid to record a loss on our first trade. $500 can turned into $50 in less than an hour, that's exclusively how the market operates.Giving crucial bitcoin information to a friend is extremely beneficial; it's what we call "we rise by lifting others." It's a nice feeling to know that your friend is making money online because to information you gave him.

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Quote from: Bd officer on May 11, 2023, 12:06:56 PM

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin.
Did I give my friend the right advice?

you have been right to educate your friend, because investing in crypto is a good thing and even better than other investments. at least now your friend understand more about investing in bitcoin by investing directly, maybe your friend can also understand more and want to learn about the pros and cons of investing in crypto, especially bitcoin.

if what you say is that your friend has invested $ 500 in bitcoin, of course, to also be informed that with small funds, it is more effective not to buy bitcoin but instead to altcoins. there are lots of good altcoins and it remains only to analyze at CMC so that they can adjust to the available funds. apart from really wanting to continue to add more capital so that you can continue to increase your funds, then obviously you can with bitcoin.

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Quote from: GideonGono on May 21, 2023, 08:34:09 PM

Quote from: Bd officer on May 11, 2023, 12:06:56 PM

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin.
Did I give my friend the right advice?

You mention how things could work out, that investing could give him a profit or a loss so you just opened a door for him, it is his own choice if he would go in or walk away from it.
The best thing that you could do now is to guide him on how to manage his investment.

his friend who sees other people's success in investing in Bitcoin might look easy. and that is a motivation to be able to follow starting investing in Bitcoin will definitely happen. but also teach the risks, not only the success you get.
and most beginners are too hasty in starting. they rush to enter the market and buy assets. it wasn't long before they left disappointed because they felt cheated by the fast-moving market. make sure our friends really know how the crypto market works and also how we overcome it all.

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Quote from: Marvell1 on May 20, 2023, 05:57:46 AM

In my opinion, both were too hasty when investing with simple advice. OP's friend didn't do any research and decided to invest in a hurry, even the investment amount is more than his salary, I'm really worried for him. As for the OP, he didn't stop his friend from investing, and after it was all over, he needed our advice. In that case, I will pass on what I know to my friend and help him learn all the basics of the market before he puts money into bitcoin. That way, not only will they not blame us, but it will also be better for his investment. Personally, I only invest when I have knowledge about it, not investing according to someone's advice.

I do the opposite for other people, I just do not give them any advice at all and it is not my place to do so, obviously I also do not invest based on anyone else's advice neither, not just people I know but also for influencers as well, I do not listen to any of them and just make my own investment.

But at the end of the day, we are not going to see them change much neither and that's why it's important to consider that the best thing we could do at the moment would be allowing ourselves to reach to a point where it is not going to really change anyone's mindset. So, if we suggest something then eventually they will do what they do, like we tell them to wait and they may panic sell, and we shouldn't take that responsibility with us, there is no way to risk it.

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Quote from: Bd officer on May 11, 2023, 12:06:56 PM

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin.
Did I give my friend the right advice?

You mention how things could work out, that investing could give him a profit or a loss so you just opened a door for him, it is his own choice if he would go in or walk away from it.
The best thing that you could do now is to guide him on how to manage his investment.

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Quote from: Magic-Money on May 21, 2023, 10:20:14 AM

That is a good decision you're friend take, because life is about information and update not to left behind, because Bitcoin is a digital assets that we soon stone the world and government are afraid of Bitcoin, because it has all it takes to serve the world, assume I get opportunity or information 2009 or early stage, I for invest Bitcoin as well, which Bitcoin has raised billionaire in the cryptocurrency industries.

Would you definitely invest in bitcoin if you knew it in 2009? many people have also claimed like you, but I doubt and do not believe it. we often have the bad habit of regretting something when we know about its future and have missed it in the past. but if we have the opportunity to go back to the past and not remember what is in the present, we will also miss it again. If you say you will buy a lot of bitcoin in 2009, why don't you buy now and wait for the future? You don't have to go back to the past to buy bitcoin because it's even easier now than in 2009.

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That is a good decision you're friend take, because life is about information and update not to left behind, because Bitcoin is a digital assets that we soon stone the world and government are afraid of Bitcoin, because it has all it takes to serve the world, assume I get opportunity or information 2009 or early stage, I for invest Bitcoin as well, which Bitcoin has raised billionaire in the cryptocurrency industries.

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Quote from: sokani on May 20, 2023, 10:05:40 AM

It is a good thing that you told your friend about bitcoin because it is only when you truly love someone that you show them the path to light and educating your friend about Bitcoin is giving him financial freedom. But I hope you gave your friend all the necessary information about Bitcoin investment such as:
1. Bitcoin is a digital coin.
2. It is a volatile asset and the price fluctuates.
3. Bitcoin is not a ponzi or a get rich quick money scheme.
4. Patience is of great importance to become a Bitcoin investor.

In my opinion, the Bd officer (OP) has done a good basic education effort, by trying to provide some correct advice in the form of relevant and educational assumptions for the theme when investing in crypto currency, in this case BTC. Good effort in my opinion.

Yes, it's true that from the 4 materials that you have conveyed, in my opinion it will be very easy for beginners to understand for us to explain because even if we convey it technically it can be confusing for the listener (audience).

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Investing in Bitcoin can present both opportunities and risks. Your friend's investment in Bitcoin could potentially yield significant returns, given its historical price appreciation and the growing adoption of cryptocurrencies. Bitcoin's decentralized nature and limited supply make it an attractive investment asset, especially for those looking to diversify their portfolios. However, it's important to note that Bitcoin's value can be volatile, with frequent price fluctuations. Your friend should carefully consider their risk tolerance, conduct thorough research, and stay updated with market trends before making any investment decisions. It's also advisable to seek guidance from a financial advisor or explore educational resources to make informed investment choices.

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