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Topic: My mother is 70 ... - page 5. (Read 1657 times)

sr. member
Activity: 434
Merit: 250
October 31, 2017, 05:47:03 PM
#23
We talked about bitcoin today on the phone.  She asked me if she gave me 30 dollars if I could invest it for her.  I explained the volility of the coin that we could go from 100 to zero just like that.  She still wants to put in 30.

That tells me while we may not be mainstream yet, we are getting there.
I think she is rather being cautious and testing the waters before hpushed dips into it fully, I say your mom is rather very smart and if a lot of investors follow her method , they wouldn't be complaining about how they lost all their money on an investment because of a hearsay.
member
Activity: 65
Merit: 10
October 31, 2017, 05:45:08 PM
#22
Yea that it a little bit sketchy.  Probably near a top if your Grandmother is starting to get interested.  That said, the market can remain irrational far longer than you can remain solvent, so I wouldn't open any shorts on bitcoin any time soon..
full member
Activity: 350
Merit: 100
October 31, 2017, 05:34:31 PM
#21
This shows that the speed at which the price of bitcoin have moved between January 2017 to this day 31st October 2017 have drawn a global attention. SO many people want to invest not minding risk involved just after the profit well that's that the primary aim of investment.
hero member
Activity: 938
Merit: 501
October 31, 2017, 05:25:39 PM
#20
It is very sad to hear that he doesnt want to learn about bitcoin and how does it works, but it is cute to hear that an old woman is interested in buying some bitcoins, it is not a big amount of money, but probably if she likes it he will invest more, just like it happened to all of those who bought bitcoin before.
I invested $300 at the beggining, and then i putted more than $2500 on my balance, i still remember those days.
But yes, teach her a little bit more, because she is so ignorant right now.
hero member
Activity: 766
Merit: 509
October 31, 2017, 05:08:49 PM
#19
I dont understand why there are some people who are investing in projects that they dont even know how do they work. It is just like that "classic family" with a stable job who hires an investor to invest their money on Stocks, bonds, etc.. and they dont know in which instruments is he investing the money in.
Why dont you tell her how does it works? and yes, tell him that with $30 she can not do anything, it would be better if she use that money for buying some stuff instead of hopping to see those $30 turned in $10000 in a few years.
member
Activity: 140
Merit: 10
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October 31, 2017, 04:35:21 PM
#18
Just think if when she was 64 she invested that same $30 in bitcoin, she would be rather well off right about now with 100 bitcoins. So hard to say what another 6 years will bring, maybe that $30 investment today will still surprise us.
full member
Activity: 210
Merit: 100
October 31, 2017, 04:29:34 PM
#17
It is really good that your grand mother understood what Bitcoin is and what is its importance and the best that she decided to invest it it.
We should keep oldies updated of the new technology because maybe they can have a new ideas that teenagers Don't event have in mind. So it is very important to invlove them in a part in our life.
full member
Activity: 322
Merit: 100
October 31, 2017, 04:12:12 PM
#16
hello, my brother is 5 years old and wondered if he can invest his bitcoin grant-in-aid to make a profit
member
Activity: 112
Merit: 10
October 31, 2017, 04:11:24 PM
#15
If it was me, I'd remind her to make sure that she's comfortable with possibly losing $30 and tell her that you'll buy it from her at the current market rate if she ever want to sell, and then send her $30 worth of Bitcoin out of my own wallet. That way, nobody has to mess with the exchange fees and she gets $30 worth of Bitcoin.

And for the people saying that old people don't get Bitcoin, I'd just say that there are plenty of young people who don't get Bitcoin and wouldn't give a rip if there was a way to make Bitcoin sexy and cool to the non-tech savvy people.
hero member
Activity: 784
Merit: 1000
October 31, 2017, 04:10:44 PM
#14
I have talked with several older people who are not in technology at all.  They have no interest in Bitcoin and believe it to be a complete waste of time.  We aren't going to change them either, so if Bitcoin sticks around for 30-50 years we could possible see it go mainstream, more than likely it will never be the dominant currency because of how it works. 

There are way too many in this world who don't have access to computers/technology and want nothing to do with it.  They will never use Bitcoin.
sr. member
Activity: 1111
Merit: 255
October 31, 2017, 04:07:11 PM
#13
My mother's 50, and she doesn't like Bitcoin.

My mom is 57 and I think bitcoin is quite hard for her to understand. Though I believe that my mom is smart enough to understand such things, I think that she has a lot of things to do rather that surfing the internet as often as I do. If we're on the same age I believe that she is more responsible than I am right now.
legendary
Activity: 3556
Merit: 9709
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October 31, 2017, 04:01:55 PM
#12
30 USD is barely worth it, tell her to spend it playing bingo or whatever it is old people do.
full member
Activity: 210
Merit: 100
October 31, 2017, 03:54:20 PM
#11
Your mother of 70 asked for your help to make an investment for her because I assume that your mother is not a techy person. Bitcoin will become a highly technical process for a person doesn't expose on the internet with topic in business, investment or any money making internet concept. Good for her, she's got nothing to lose it is your 30 dollars. For me, I will never hurt the feeling of a 70 old loving mother.
member
Activity: 61
Merit: 10
October 31, 2017, 03:13:04 PM
#10
The day there's no one still sitting on the sidelines, wondering whether they should invest in Bitcoin or hold off for a pullback, is the day we should all sell because there's nowhere left to go but down. Tongue Most older people are skeptical of it, and rightly so; they've all seen plenty of asset bubbles before, and seen people try to pick themselves up from the wreckage left behind. We still don't know if this is a bubble or not, really... it's showing all the signs of it, in terms of the speed of growth and the euphoria of some of the participants, but as a currency it could of course be a different story. Gold is also largely held up by psychology rather than any valuable use cases or economic moat, but it's been there for thousands of years and is now considered one of the least risky investments rather than the most. When people first started digging shiny rocks out of the ground and making ornaments from them rather than throwing them at each other, I doubt any of them considered the investment value, and the first ones to start accepting it for food, water and other basic necessities were seen as absolute fools - just like, once upon a time, a pizza shop was seen as foolish for accepting 10,000 bitcoins instead of "real money." Tongue
newbie
Activity: 46
Merit: 0
October 31, 2017, 03:04:11 PM
#9
We talked about bitcoin today on the phone.  She asked me if she gave me 30 dollars if I could invest it for her.  I explained the volility of the coin that we could go from 100 to zero just like that.  She still wants to put in 30.

That tells me while we may not be mainstream yet, we are getting there.
Tech part: I've been trying to explain to my parents for last 2 years what bitcoin is, how to use it and for what to use it. They understand it only partially because they are also older people and they believe in touchable papers, new technologies are harder for them to understand.

Economic part: I was doing my regular "price updates" telling them that bitcoin is worth 6300$ and guess what? They told me there is something seriously wrong with bitcoin and I could get burned.

Did you also tell them that your girlfriend is enjoying your golden dick?
full member
Activity: 574
Merit: 139
October 31, 2017, 02:57:45 PM
#8
We talked about bitcoin today on the phone.  She asked me if she gave me 30 dollars if I could invest it for her.  I explained the volility of the coin that we could go from 100 to zero just like that.  She still wants to put in 30.

That tells me while we may not be mainstream yet, we are getting there.
Tech part: I've been trying to explain to my parents for last 2 years what bitcoin is, how to use it and for what to use it. They understand it only partially because they are also older people and they believe in touchable papers, new technologies are harder for them to understand.

Economic part: I was doing my regular "price updates" telling them that bitcoin is worth 6300$ and guess what? They told me there is something seriously wrong with bitcoin and I could get burned.
full member
Activity: 378
Merit: 101
October 31, 2017, 02:45:04 PM
#7
We talked about bitcoin today on the phone.  She asked me if she gave me 30 dollars if I could invest it for her.  I explained the volility of the coin that we could go from 100 to zero just like that.  She still wants to put in 30.

That tells me while we may not be mainstream yet, we are getting there.

Way to go mom. I commend her for even wanting to try out this Bitcoin thing. My friends are half her age and they won't even listen to me. Its so frustrating sometimes. But hey, I have tried. I used to be that annoying friend who's always talking about bitcoin. Now I don't even talk about it anymore. I can't wait to drive a Lamborghini (joke). Maybe they will listen.
newbie
Activity: 42
Merit: 0
October 31, 2017, 02:22:58 PM
#6
That's quite depressing seeing her with no interest in learning the ways of bitcoin. Nevertheless, considering her age would be understandable. I talked to my mother at first regarding investing in bitcoins and she didnt hesitate to tell me that I shouldn't due to the scams and hacks that happen nowadays. It seems that more people prefer normal investing in stocks; thing that have been tried and tested that wouldn't result to a scam. I still love to hear and read about bitcoins still though, since this seems to be interesting something that was once $7 became $600 in 4 years.

That being said, Bitcoin is still on the verge of rising through the markets and being known to everyone. Maybe some day, bitcoin would be the main currency of individuals.
legendary
Activity: 978
Merit: 1001
October 31, 2017, 02:19:37 PM
#5
For 30$ to become 100$, at current price, would need bitcoin going to near 20000$.
newbie
Activity: 20
Merit: 0
October 31, 2017, 02:16:43 PM
#4
My mother's 50, and she doesn't like Bitcoin.
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