Topic: presuring someone into Bitcoin investment - page 2. (Read 1220 times)

I don't even know what will benefit the educator for mounting pressure on the newbie to make sure that he invested, putting pressure on someone for an investment that has a high risk like bitcoin will only lead to frustration and disappointments when the market dips and they are loosing their money along gradually, both of you will not be at peace because you would have also made some vain promises about bitcoin to always provide them with the desired profits if they invested.

I think being persistent is the right term for a person who always persuades a person to invest in Bitcoin.  No one can forces someone to invest in Bitcoin unless they coerce them.  I agree that we should only give information and leave the investment to the person.


When people overhyped and then suggest investment, it is possible that there is a hidden motive in there.  Probably the person explaining wanted his investor to invest in Bitcoin under their referral to earn something from that investment.  We all know exchanges have also an affiliate program where the sponsor or the person who refers users will have a certain percentage of that person's trades.

In the process of forcing anyone to invest in bitcoin, they might end up tagging you as a scam. All that should be done is to enlighten people more about bitcoin, then leave them to do more research, and they should make the decision whether to invest or not by themselves. If you end up forcing anyone to invest in bitcoin, if bitcoin starts dumping after investing, they will think you have cheated them.
 
Some people overhype bitcoin when introducing it to people. When introducing bitcoin to people, make sure you enlighten them about possible ways in which they can lose money in bitcoin investment and make sure you tell them the possible measures to avoid that. We shouldn’t just talk about profits without telling them about losses. Some people decided to tag bitcoin as a scam after losing money in it, and they weren’t informed that they could lose money before investing.

It’s very good that OP’s mother did her research. I think that if I told my friends about this, they wouldn't even want to understand it, but would only trust my advice. To some extent, I'm even afraid to tell them about Bitcoin because if they invest their money in it, there is a chance that they will fall into a bearish trend. With the lack of experience, it will be a nightmare for them and perhaps they will refuse me. I advise many people to think before telling their friends about Bitcoin. Yes, it’s hard for me to say this, but not saying it at all is also a mistake.

You can educate someone about a certain investment or specifically bitcoin but you can never decide for himself, because investing needs prior research and studies so you can prepare for its risk and to avoid losing as well in the process. That is how OP’s mother is trying to do and now after a series of research and studies, she’s now certain with he decision because she knows already the high potentials of bitcoin to succeed in the future.

No no. Never share your experience with them in the beginning. Make them feel like you are trying it out for the first time too and you know a little bit of it here and there. As humans, we tend to learn together and make a competition on who can learn first and get better at it. If you say you know more than they can learn on their first try, they will ignore you or try to copy what you do. They will try to be better than you. In that process, they will skip all the beginner stuff and jump into the advanced things to catch up to you. And that's not a good thing, is it?

Make a space where they can think that they can learn with you can look up to you when they need help. Not your losses or your profits. That comes later. If they learn from the ground up, it will be easier to teach them the concept of profits and losses. It will be an easy job for you too. Lastly, the most important thing is never to push them if they refuse to do their research and learn. Even after learning everything, if they refuse, respect their decision.

Basically, it is never recommended thing to approach someone and ask them to make investments in Bitcoin or cryptocurrencies. You can make suggestions, and give them knowledge about them, but you should never encourage them to make any investments because as you said, if investments they make because you told them to do so, the blame will be on you because you are the one who encouraged them to make those investments.

This is the biggest reason why I don't like asking people to join Bitcoin or invest in cryptocurrencies because I know that even if I tell them about the risks involved if they lose money, I'll be their target for those losses. That's why I only tell people about how things work and what's good and bad about them if they ask themselves.

There are still some people for whom, even after telling them the risk involved in a particular thing, you need to give them time to digest the information they have gotten in order to come up with a better decision. Any decision regarding an investment should not be taken so hastily. Some people will be fully aware of the investment risk, and they will go ahead and put their money into the investment. If the investment does not become successful, they will feel really bad and can face some psychological challenges. Yeah, I agree, and like I said before too, investment plans should not be forced on people so that when things go wrong, you will not really take all the blame and be tagged as someone who forced them to do what they did. There's no one who feels very ok when their investment fails and they lose their asset, so whether a person invests the amount they can afford to lose or not, it doesn't mean they will totally feel happy when they lose their investment. Although someone who has a good idea about Bitcoin before investing in it will not lose their asset if it is sold cheaply or is hacked,

By giving them the idea to find opportunity into Bitcoin is already considered as helping, but it shouldn't be like a spoon-fed where almost every move and decisions are still up to you since you are more knowledgeable and you're the one introduced them into Bitcoin. It would really depends on the person if it picks their attention and interest if they would put effort to really understand what you meant by introducing BTC. Process is really important cause without that probably they wouldn't learn anything especially the experience that would help you in this industry. Let them learn on their own pace and their own techniques to learn I agree that tips would but almost do trade for them is not a good thing to do.

The point should be like that. Because if someone tries to persuade or invite someone to invest in Bitcoin, there should never be an element of coercion or providing direct understanding in high doses. Because the understanding/material that is given suddenly and at length usually will not be absorbed properly by the listeners.

Because, for example, you feed someone rice, but you give too much or too much rice. Surely the person will not be happy, but what will happen is that the person will choke, vomit and the person who was given the rice will definitely be angry. So that's what will happen too, if we give the understanding, the knowledge, about Bitcoin too directly or too directly to anyone. The results could actually be less than good.

So start slowly, and don't immediately start the debate with something that is difficult or too long. Because inviting someone to invest in bitcoin is not as easy as inviting someone to invest in gold or property. That's because bitcoin is still unknown to many people.

We can agreed to help someone through a process but also they will have to develope interest in going through the process of what we are bringing to them to make the whole thing a perfect job well done, there's nothing too big about learning something new, we can trade or do other things we so wish with bitcoin, but we should never forget that there's always a demand for everything we do in cryptocurrency, this is why it is required of us to go through the normal procedure in acquiring the best deserving knowledge for it.

and yet being asked here, this is not  as something as OP might do.

pushing others to invest in something you don't understand and know is something suicidal for me.

well "MOTHERS KNOWS BEST" so yes it is a best step for every parents to ask and do for their future, as the family is the first from them.

Anyway, your mom finally invested in Bitcoin. At first your mother didn't understand Bitcoin well, didn't agree to invest in Bitcoin for the first time. By the way, did your mother invest all her money in Bitcoin? Not all money should be invested in Bitcoin. Your mother has little idea about Bitcoin, maybe not even a good idea about wallets. So you should let your mother store bitcoins in a good wallet.
Op, the way you gave your mother the idea of ​​Bitcoin. Now if you go to give ideas to others in the same manner, he may not understand. Because, not everyone will understand Bitcoin in the same way. To give someone an idea about Bitcoin, one must discuss the negative and positive aspects of Bitcoin. Investing in Bitcoin is risky, risks must be discussed.

I personally had a negative experience of communicating with people when I told them about Bitcoin and other crypto projects. At that time, they considered me a fraudster who was trying to deceive them. This happened several times. Since then, I haven't told anyone. People should make their own decisions without the intervention of others.
It's a pity that I went through such a process, and maybe it's all for the best. There is also some experience here.

It is unethical to pressure someone into making an investment, including one in Bitcoin, and it can have unfavorable effects on both parties. Instead, the following ethical principles should be followed if you want to offer guidance or information on Bitcoin or any other investment:

Educate, Don't Pressure: Instead of putting pressure on someone, give them instructional materials regarding Bitcoin and cryptocurrencies. Describe the dangers and potential benefits involved. Encourage them to do their homework and choose wisely.

Share Your Experience: If you have any firsthand knowledge with Bitcoin, feel free to talk about it with others without trying to persuade them to invest. Talk about your experiences, the hazards you have faced, and how you have handled those risks.

Prior to discussing investments, be aware of the other person's financial objectives, level of risk tolerance, and time horizon for making investments. Everyone may not be a good candidate for bitcoin, therefore investors should make judgments based on their circumstances and goals.

Promote Diversification: Stress the value of having a diversified portfolio of investments. The asset class of bitcoin should be viewed as merely one of many. Risk reduction may be aided by diversification.

Respect Their Decision: If someone makes the decision to forego investing in Bitcoin after carefully reviewing the information you have provided, respect their decision. Each person has a distinct financial status and level of risk tolerance.

Beware of Scams: Make sure the person you're speaking to is aware of typical cryptocurrency scams and how to defend themselves from unethical practices. Being cautious is crucial given the prevalence of scams in the cryptocurrency industry.

Consult a Financial counselor: Encourage them to speak with a knowledgeable financial counselor or investment specialist who can offer them individualized guidance based on their unique situation. They can get expert advice to help them make wise selections.

Stress the importance of having a long-term perspective while making investments in cryptocurrencies like Bitcoin. Price swings over short periods of time are frequent, and losses might result from panic selling.

Avoid Using High Pressure Sales Techniques: Never use high pressure sales techniques or manipulation to get someone to make an investment. Such methods can damage your relationship with the person and foster mistrust.

Moral Conduct: Keep in mind that moral conduct is crucial in financial problems. When talking about investments, it's critical to uphold the trust of others because your reputation is crucial.

In conclusion, always approach a conversation about Bitcoin or any investment with empathy, knowledge, and respect for the other person's decisions. Encourage them to make well-informed choices in line with their financial objectives and risk tolerance while being aware of the potential downsides of investing in cryptocurrencies.

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I see that the behavior your mother took is logical and natural. You cannot come to someone and tell him to give me a huge sum of money to invest in something unknown! This is illogical!

Bitcoin is unknown to your mother so she did absolutely the right thing and did her own research before investing in something unknown to her.

and that is by sharing our success in crypto(though we also need to tell them about failure and potential losses) yet this will trigger them to dig deeper about how and why there is a possible profit in this.
and how and why they need to trust investing their money inside crypto.

for how many years that we are already gaining(with losing of course) here in this market.
i think it is the time for them to try it out as well.

we have no rights to push everyone specially in a very risky but profitable place or market such crypto.
so what we need to provide is Idea and knowledge and it is for them to dig out.

mature and understandable people will surely be lure by us telling those .

Especially women are not quick to decide to invest money on anything. Because they are very afraid of investment. And two years ago people were not as aware of Bitcoin as they are now. Although then there was a golden opportunity to make big profit. Your mother also missed that opportunity. Our mothers are mostly older women so they are less aware of technology and therefore it is not possible to explain these things to them very quickly.

It is great to hear that your mother has agreed to invest in Bitcoin and has invested a large amount like $5k in it.  First investment $5k is a HUGE investment.  But you should buy a hardware wallet for your mom.  And hold the bitcoins there.  Because she is new here and she has a large amount of bitcoins so they are too risky for her now. She invested in Bitcoin because you explained to her the benefits of Bitcoin, so make sure that he doesn't become a victim of hacking and create a negative perception of Bitcoin.

When I found out about bitcoin I told some of my friends what it was and why I was going to invest, I simply told them that it was well worth taking the risk but no one decided to invest. The main reason was because they didn't want to spend time doing the researches I did and trying to understand better why I was investing in bitcoin. I'm still in touch with them and sometimes we talk about cryptos, they deeply regret not investing when I told them to. But everyone is different, I don't blame them, and I would never push anyone to invest in bitcoin, I don't want to have any kind of responsibilities.

Losing money while investing in Bitcoin is very hard to happen,  and unless you choose to sell your Bitcoin while the price is at the bottom is the only way to lose with bitcoin,  but as long as you hold your Bitcoin as an asset you lose nothing and you stand the chance of gaining from your Bitcoin holding on the long term so this is one thing we must all have to come to term with.

Putting $5k into Bitcoin may not mean much depending on the financial level of the investor,  but also note that of 5k is properly held, it could give some satisfying return in the long run.