Topic: presuring someone into Bitcoin investment - page 4. (Read 1242 times)

Bitcoin investing is like any other: you must understand the risks. Your description of the possible family tension is accurate. Investment tips can improve or weaken relationships. Its fine to introduce someone to Bitcoin, but trying to encourage them to spend before they realize its volatility is perilous.

The person's mental capacity is crucial. The complexity of Bitcoin can mislead even experienced buyers. The fundamental technology, market manipulations, regulatory news, and economy-wide factors affect its behavior, not just price movements. This can be like delving into a complicated book for a beginner.

While caution is necessary, Bitcoin's immense potential should not be overlooked. Its about changing how we think about money and value transfer, not just making money. Its a dance between fear and acceptance - you must enter with your eyes open and feet planted.

Pressuring people to invest into any investment particularly bitcoin will only make them doubt your sincerity, and they might be thinking that you’re probably pushing them to invest and when they start losing, you’ll become responsible of their instant losses. That is why it’s never on my personality to convince people to trust and invest bitcoin. Instead, when I see them become interested on it, I keep on advising them to research first and learn a lot from bitcoin before they’ll decide to risk some money. Bitcoin is highly risky so one needs to prepare for it before entering the crypto market.

Well of course it is not a good action, and in my opinion it should be avoided, do not let you or anyone suggest someone with various coercions to then invest in bitcoin and obviously one day there will be many things that you never expected to come, as you said, if something happens to the price of bitcoin for example a bearish phase that is long enough so that they experience losses then surely they will come to you to ask a lot of things or maybe blame you.

Yes that's right, I would also slightly suggest that you explain it in detail because as we know bitcoin is very volatile and anything can happen there, especially maybe experiencing a lot of losses, the point is not to choose the wrong person when you want to introduce bitcoin and emphasize the risk of loss more than the profit, as we know almost everyone comes for profit but they don't focus on the loss and in the end many lose a lot there. So it's better not to be too much if you want to introduce bitcoin, you can do it but it must be to the right people and really easy to understand.

Pressuring someone to invest in something or to invest in bitcoin is not a good idea at all because it is very risky. Let's take your mother as an example; when you first introduced her to bitcoin, she initially expressed no interest, and you didn't press the issue. However, after doing some research on the currency, she returned to you and expressed interest. Then, since you did not urge her to invest again, if anything occurs or the price of bitcoin drops and she is unable to sell it when she anticipates, she won't hold it against you. As a result, there won't be any friction between the two of you.

And once more, when you are introducing someone to bitcoin, make sure they are a well-informed and educated person because some people are difficult to understand. Some people will invest their money in bitcoin because they believe they will profit from it if they do so after you explain what it is. However, not everyone can invest in bitcoin because it is a type of investment that you must be capable of doing in order to do so.

When someone teaches another individual how to use Bitcoin, there are typically several reasons behind it, often aimed at facilitating transactions or for investment purposes.

If you wish to introduce Bitcoin as a convenient, bank-free transaction tool, you can start by acquainting them with Bitcoin's features. There's no need to overwhelm with numerous features; just introduce simple functionalities like real-time BTC transfers using a smartphone wallet. Curious individuals will seek further information about Bitcoin and its advantages. Your task now is to guide those interested in learning about Bitcoin to avoid making misguided choices.

To introduce Bitcoin as an investment, showcase the benefits you've gained from your Bitcoin investments. Everyone is interested in "how to make money," as we all recognize the need for funds to fuel our lives. However, don't allow them to choose the wrong methods offered by scammers. Your responsibility also involves keeping a watchful eye to prevent them from falling victim to fraudsters in the crypto world.

That's right, there's no need to pressure people into investing in Bitcoin. While Bitcoin has high potential for the future, it also comes with high risk. When people invest without understanding what they're doing and simply follow the hype for possible returns, they may blame you if the investment doesn't pan out.

Knowledge is crucial so that they don't panic when the market experiences fluctuations. It's important to understand that there are ups and downs, bears and bulls in the market. As an investor, one should be aware of these possibilities. It's encouraging to see people returning to plan their investments because they have a better understanding. Hopefully, everyone will do their research so that there are no more uninformed investors thinking that investing in Bitcoin guarantees a profit.

When encouraging people to invest in bitcoin, i prefer to talk more. Most people don't like to do research and are tempted by what they hear from others. It's wiser to talk about the attractive aspects of bitcoin instead of pressuring them. So i don't hesitate to tell them about bitcoin. Compared to 10 years ago, i would say it's easier to explain Bitcoin now. It's easier to explain why people should invest in Bitcoin by referencing the recent bull run and halving periods. Then we can talk about the philosophy of Bitcoin and the revolution it will bring to the monetary system.

If I’m not mistaking, I came across your post a couple of days ago in which you said you knew nothing about bitcoin. Why are you now saying you wish to let your mom know about bitcoin? Two years ago, you told her you wanted her to invest, but she kept rejecting your request. I think you should calm yourself down on the forum and do the needful, in which the forum will benefit from what you are bringing up. Creating this type of thread will not help you because I believe you are doing all this just to get merit. You forget that you can be merited with a post that is not meaningful, so try and contribute meaningful contents on the forum next time you are posting, mate

If your mom invested some months ago, why is she enjoying her investment at this moment when the market is low? Did she just invest and sell the bitcoin without thinking of getting a profit? I think you still need more knowledge about bitcoin investment because this shows that you are not even checking the bitcoin price to know how the price is, and even if you invest, you can't know how the market goes.

However, I can see that for the past few months now, people have been using the opportunity of how low the bitcoin market is to buy more, so why did your mom buy at a very low price and sell without making a profit? If she truly bought bitcoin as you claimed, she would’ve never sold it because she can’t even get her money back. Talk about profit!

I also agree, there are bunch of strategy to make people get interested on things that you want them to learn. Showing the result of your investment would be sufficient enough, it will trigger their curiosity on how you get that kind of profit and pretty much they will engage themselves on how to learn crypto.

If they themselves got the initiative on how to use crypto, you will be safe from blaming if their investment sunk since you will absolutely haven't contributed from their intent on investing on crypto.

I see your point here. More often than not, people get scammed by those who are being too persuasive and putting pressure on others to hear them out and join. Instead, it is better to just put it out there that you are into Bitcoin and crypto, and allow them to be the ones to find curiosity in it. Let them learn on their own and just be available when they have questions and inquiries, that way you wouldn't feel so responsible and pressured for their decisions in investing.

The problem people have when introducing bitcoin to newbies is that they only talk about the benefits and they do not talk about the common challenges one will likely face when dealing with bitcoin. If in every introduction people can be open and go ahead to say about the challenges bitcoin has I don't think newbies will put blames on people when bitcoin market becomes tough for them. People just only want to say the good side and benefits of Bitcoin so they can easily catch the attention of this newbies and I wonder why they so much care about people accepting bitcoin when they don't really understand it and know the problems and challenges they may come across in the future. 

Bitcoin have advantages and disadvantages  for the investment and someone who is investing in bitcoin doesn't know exactly if the investment will benefit him or not, so pressurising someone to invest in bitcoin is not encouraging, what you do in bitcoin is what your mind tells you to do, so their is some things that is supposed to done with bitcoin investment and theirs is things that should not be done, because in bitcoin investment you have so many things you can do during the investment and you most at least have the knowledge of bitcoin and the risk that is involve in bitcoin investment before you invest.

Well obviously, if you pressure someone to invest on something saying bunch of things, they would doubt about it. Cause that's what networking and investment scheme usually do. They would keep on persuading people to invest on something. So I understand why your mother was in doubt at first when you told her to invest. But rather than forcing or persuading others to get into Bitcoin cause you believe in Bitcoin, it's better to introduce it to them first without telling them to try it. Simply, introduce it to them. When they get curious or interested, they will most likely to study and research about it on their own.

People around me whom I helped introducing Bitcoin, I never really persuaded them to invest in it. They just know I'm into Bitcoin or crypto in general, and they are the one who'll come to me asking for help how to invest and such.

Thats true, making someone understand the better part of bitcoin and invest on it is really hard. Teaching bitcoin to someone close to us is good, but the same shouldn't be a pressure at any situation. It is their own money and they should decide whether to invest or not. Out of eager most of the time we just throw the advantageous part and never brief the risks. At the beginning it takes little time to analyse and understand and come to a conclusion. What the mother have done is really good, maybe she had missed profiting but she had analysed, understood the risk and come to a decision to invest.

Convincing others about the benefits of crypto currencies and getting them to invest their own money in it is very hard. Especially when we talk to elderly people that are more risk averse, the concept of bitcoins and other crypto coins could seem risky at first. When promoting crypto currencies we should always be open about the benefits and risks involved. In case we only promote the advantages then it could seem that it's a save investment without risk of losing money. It all comes down to managing expectations, the times of getting rich overnight are over. Which doesn't mean that bitcoin and other coins are still great investment. Unfortunately, bitcoin isn't for everybody as some people don't want to take any risks with their money. Someone that only has a savings account at the bank and never bought any stocks or investment funds in the past should think long before buying cryptos.

In fact, making Bitcoin easy is the key to getting many people to use it. It's like setting up someone's first email account; they don't need to know about SMTP standards. Just send an email is all they want to do. In the case of Bitcoin, they want to know the "what" and "why," not the "how."

It's like teaching a child to ride a bike: first you give them a tricycle, then you give them stabilizing wheels, and then you let them go. Introduce the basics of Bitcoin, its growth rate, how it could help people become financially independent, and any possible risks. Get to the point: digital gold that is not controlled by a single group.

When they understand that? Show them your wallet and an exchange. Let them see it work and feel it. Remember that in the world of Bitcoin, you have to see to believe. Step back once they've seen. Give them room and let them make a choice based on what they know. At the end of the day, Bitcoin is a trip of discovery, and you are the tour guide, not the driver.

It's excellent to educate certain people, but don't make it appear as if you have news you don't want to share. And it demonstrates that the profit is what most often piques people's interest in bitcoin without the profit, they wouldn't give a damn about anything else. Is now looking has if most people don't know that bitcoin also have its own gambling nature. If you are willing to take the risk, I can even use the no pain, no gain principle to induce investment in anyone. Not that you start bothering me if the investment doesn't go your way, forgetting that the person made the decision on their own. Everyone uses bitcoin in their own way, according to their own definition.

Only a select minority of my friends, I'd say, truly want to invest in bitcoin because the majority of them are aware of the costs associated with doing so and are therefore unwilling to accept the risk. That is a good point  made the advantage and the disadvantage should be made known to the investor has stated above before you get blamed. And after the fundamentals, mentorship—where you learn from an experienced trader—seems like it would be a good idea to develop the community's interested members. So that they don't lose there hard earned money. Getting money this days is hard.

My point is that giving some advice like "Bitcoin is great! I've made so much money from it" can be persuading them to think to buy into it.

Like I said here:

They are accountable for their investments, but in my mind its not good practise to convince people into investing into things that we may find interesting

First of all, any investment is something that is completely free to be done and chosen by anyone as long as the person who chooses and does it really understands the method and the risks. Apart from that, the investor himself is also very familiar with the asset he has chosen and has also done some research in the past on that asset so that he can be quite comfortable making a decision at this time. So this kind of thing is not a compulsion nor is it a bad idea to do it because it is already based on very wise methods.

Those who still want to remind you have also started and are making their own money so you don't need to assume that every carrier of information about Bitcoin and investment is out to take your money. But they could just tell everyone about it by making up their own minds after knowing it, so this is also something to keep in mind before judging other people's information.

I think just informing them about Bitcoin is also a good way to invite them to join cryptocurrency.  Let their interest work for them and make them research about BTC.  The information on the internet about Bitcoin is vast and I believe it will do more good information-wise if they learned it from the internet since we can find a complete list of resources there than teaching them what we know.  We can guide them, yes but I think having them learn it themselves due to interest will have a better fruit than spoon-feeding them.