Topic: Succeeded in introducing Bitcoin to a friend - page 3. (Read 1495 times)
From the story, I feel like the two friends were from a third-world country, and one had experience learning in Canada. According to my understanding, the person who is studying in Canada and is back home for vacation or some other purpose could've known much about bitcoin, but he hadn't shown interest. Looking at the bitcoin the friend has in his wallet, he could've gotten interest and started to accumulate. As a result, an investment of $520 in bitcoin was made. According to me, being in Canada and not exposed to bitcoin is difficult, so this is just a story.
I can really say that you have succeeded introducing to your friend about bitcoin and learn from it and eventually invest on it. With just a short period, your friend had decided to invest immediately. But isn't it too fast for him to decide like that? Bitcoin is a risky investment so he should learn to analyze it well if he's willing to take the risk or just learn first and study bitcoin thoroughly until he thinks hey ready and capable enough to invest.
Everyone can invest in Bitcoin, of course they have to understand the risks of the investment they make and when they understand, of course they have made the decision to invest and of course they have to try it with a little capital so that when they make a mistake in investing they are still able to survive. in the investments they make.What you say is very true, when someone decides to invest, they must study it thoroughly so that they don't make a mistake in deciding to invest which results in them losing the assets they own.
There wouldn't be an issue to start investing to gather experience, but the thing is money is still money, you could still lose it in the process if you just take blindly invested in Bitcoin. Plus the fact that person just starting or a newbie experiencing too many losses would eventually quit and give up, so in short, it's much better to start of with attaining knowledge first and be familiarize then you could start with little amount to gather experience cause it would be better to start off in your trading or investing journey where you can lessen the risk with your knowledge.
on the time that you do step your foot into this market on which its never been that an easy money making thing but also it could potentially give out that kind of risks when it comes on losing money too.
Its good that you would really be having those introductions about Bitcoin into someone on which it is really that at least spreading out that kind of awareness when it comes to its existence
which we do know that its good but on personal perspective then it would be just needed or normal for you to learn even with to those basic principles and risks handling.
It is like declaring your asset which I believe should be only for public office holders, in this case it does not look as if its a public job so I frankly do not see the need for it.
If you want to let him in as a friend and confidant then its ok but to show him your holding is a bit risky from a security stand point. It is also not necessary as you are not trying to prove any point.
Showing people the amount of Bitcoin you are holding just to convince them to invest in Bitcoin is not necessary, this is a matter of personal choice if we still feel like convincing the person with the amount of Bitcoin that we are holding. We don't have to show strangers the amount of Bitcoin we are holding because it can be very risky to us individually. If you want to let him in as a friend and confidant then its ok but to show him your holding is a bit risky from a security stand point. It is also not necessary as you are not trying to prove any point.
We don't have to compel people because we want them to invest in Bitcoin. There is risky too that they need to understand about Bitcoin and cryptocurrency at large. This is one of the reasons why we don't have to see it as a must for someone to become an investor. There are so many ways we can do this apart from showing people our holdings.
So with excitement to hear from an old friend after so many years I just immediately took my bath and zoomed to the bar he directed me, so I got there lo and behold my old time friend. We exchanged pleasantries and started discussing about life and I told him how life have been so uneasy but that I got a job in a factory were am paid $60 for about 2 years now and i told him that my colleague at work introduced me to a forum called bitcointalk where i registered on the forum and learnt a lot of things concerning Bitcoin and i also showed him the amount of bitcoins i have stored in my wallet so far and he became curious to know about bitcoin and i explained everything i know about bitcoin and encouraged him to join me in buying and holdling bitcoin that we are awaiting the bull market after the halving so he became so furious and told me that since he knew me that I don't normally give attention to anything online (internet) but for me to hodl such huge amount of Bitcoins that it means am really serious about it so he became interested and ask me how he can buy Bitcoin as well so I told him step by step on how to buy Bitcoin and he bought Bitcoins worth $520 that is about 0.012194 btc so he told me that he wish to acquire 1 btc so I told him not to worry that he will use the DCA method to buy same amount of bitcoins at different interval then with time he will surely acquire the 1 btc.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
There are a few points that I'm not properly understanding in this story: you said you were paid $60 for 2 years of work? That means $2.5 per month, is that correct? And then you said that you "hodl such huge amount of Bitcoins" and your friend, who lives in the same country as you, without knowing anything about bitcoin immediately buys $520? I'm really having a hard time understanding your story, there are many useless details and missing info. My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
You did something nice by introducing bitcoin to your friend because that's why bitcoin was introduced in the first place.
But I'll rather say some things are better left unsaid,like you sharing your bitcoin networth information with your friend.If you intend to teach someone or introduce something to someone,you should ensure that the person has all the necessary guidance and awareness by keeping it simple because its crucial to approach him with an informative mindset.
*Introduce bitcoin
*Give examples
*Elucidate by using similar or related to the subject
*Explain why it matters
*Motivate him by showing its benefits and Advantage
You should be able to provide them with accurate,updated and authenticated information;whatever teaching method you want to used,but you should be responsible for educating your friend on the crypto basics.Make sure that you annouce to him the importance of doing thorough research and understanding the bitcoin properly but it's up to your friend to make his own decisions.
But I'll rather say some things are better left unsaid,like you sharing your bitcoin networth information with your friend.If you intend to teach someone or introduce something to someone,you should ensure that the person has all the necessary guidance and awareness by keeping it simple because its crucial to approach him with an informative mindset.
*Introduce bitcoin
*Give examples
*Elucidate by using similar or related to the subject
*Explain why it matters
*Motivate him by showing its benefits and Advantage
You should be able to provide them with accurate,updated and authenticated information;whatever teaching method you want to used,but you should be responsible for educating your friend on the crypto basics.Make sure that you annouce to him the importance of doing thorough research and understanding the bitcoin properly but it's up to your friend to make his own decisions.
It is like declaring your asset which I believe should be only for public office holders, in this case it does not look as if its a public job so I frankly do not see the need for it.
If you want to let him in as a friend and confidant then its ok but to show him your holding is a bit risky from a security stand point. It is also not necessary as you are not trying to prove any point.
For me, when it comes to bitcoin hodlings, it should be confidential just like in your salary amount or savings because anything that you will share to other people possible will be using against you. I'm not a negative thinker type of person but I usually trust no one, even if you're my friend unless you're a part of my family. I realized that no matter how well you know someone, when it comes to a point where they are having a big problems financially, it's still possible for them to do something bad especially if they know you have such a large amount of investment or savings, they may come to you for a loan, rob you and worst is manipulating and cheat you.If you want to let him in as a friend and confidant then its ok but to show him your holding is a bit risky from a security stand point. It is also not necessary as you are not trying to prove any point.
Bitcoins, savings books, bank account balances... all of these are not public under any circumstances. I don't see this as a negative thought and I'm the same as you . No matter how close friends we are, we are still not family and sometimes family members also have unreliable people, so there is no reason for us to easily trust people who are not our family .
To me, money can be said to be the most sensitive thing in our lives, it can bring us a happy life but can also create dangers for us . Therefore, sharing or revealing your assets to others is like putting yourself in danger .
Last week, an old friend of mine back then in the university in 2013 who later traveled to Canada to further his studies returned back to the country and yesterday, he coincidentally met my mum at a shopping mall and requested for my contact and my mom gave my number to him so he called and called the nickname that we both normally call ourselves back then in the university days I was so shocked to hear that and I called his original name and he answered and told me he is back from Canada and he requested we meet at a bar immediately.
So with excitement to hear from an old friend after so many years I just immediately took my bath and zoomed to the bar he directed me, so I got there lo and behold my old time friend. We exchanged pleasantries and started discussing about life and I told him how life have been so uneasy but that I got a job in a factory were am paid $60 for about 2 years now and i told him that my colleague at work introduced me to a forum called bitcointalk where i registered on the forum and learnt a lot of things concerning Bitcoin and i also showed him the amount of bitcoins i have stored in my wallet so far and he became curious to know about bitcoin and i explained everything i know about bitcoin and encouraged him to join me in buying and holdling bitcoin that we are awaiting the bull market after the halving so he became so furious and told me that since he knew me that I don't normally give attention to anything online (internet) but for me to hodl such huge amount of Bitcoins that it means am really serious about it so he became interested and ask me how he can buy Bitcoin as well so I told him step by step on how to buy Bitcoin and he bought Bitcoins worth $520 that is about 0.012194 btc so he told me that he wish to acquire 1 btc so I told him not to worry that he will use the DCA method to buy same amount of bitcoins at different interval then with time he will surely acquire the 1 btc.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
So with excitement to hear from an old friend after so many years I just immediately took my bath and zoomed to the bar he directed me, so I got there lo and behold my old time friend. We exchanged pleasantries and started discussing about life and I told him how life have been so uneasy but that I got a job in a factory were am paid $60 for about 2 years now and i told him that my colleague at work introduced me to a forum called bitcointalk where i registered on the forum and learnt a lot of things concerning Bitcoin and i also showed him the amount of bitcoins i have stored in my wallet so far and he became curious to know about bitcoin and i explained everything i know about bitcoin and encouraged him to join me in buying and holdling bitcoin that we are awaiting the bull market after the halving so he became so furious and told me that since he knew me that I don't normally give attention to anything online (internet) but for me to hodl such huge amount of Bitcoins that it means am really serious about it so he became interested and ask me how he can buy Bitcoin as well so I told him step by step on how to buy Bitcoin and he bought Bitcoins worth $520 that is about 0.012194 btc so he told me that he wish to acquire 1 btc so I told him not to worry that he will use the DCA method to buy same amount of bitcoins at different interval then with time he will surely acquire the 1 btc.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
Actually,it was wise because teaching or explaining without practical examples and facts it will be difficult to understand and develop interest in what you're teaching so its better we show our benefits in what we teach others. How will someone who is poor guide you to be rich or someone who is rich guide on how to be rich, definitely you go with who has the quality of what he or she is teaching you.
It is like declaring your asset which I believe should be only for public office holders, in this case it does not look as if its a public job so I frankly do not see the need for it.
I also think that this is not necessary because introducing Bitcoin to friends is telling about knowledge and how to get it, not showing the number of Bitcoin assets that we have obtained so far. Because it's true, as you said, that part is not the most important thing to say, but if it's just knowledge and how to use it, I think that's the most important part to say to everyone and not just to a friend.Quote
If you want to let him in as a friend and confidant then its ok but to show him your holding is a bit risky from a security stand point. It is also not necessary as you are not trying to prove any point.
I also think that showing the ownership we already have is not the most important thing in inviting friends to know about Bitcoin, because what a friend needs is how to understand Bitcoin and how to use it when the friend already has Bitcoin. So it really has to be sorted out so that we don't make mistakes in teaching other people about what is important to tell and what is not important to tell. 
I can really say that you have succeeded introducing to your friend about bitcoin and learn from it and eventually invest on it. With just a short period, your friend had decided to invest immediately. But isn't it too fast for him to decide like that? Bitcoin is a risky investment so he should learn to analyze it well if he's willing to take the risk or just learn first and study bitcoin thoroughly until he thinks hey ready and capable enough to invest.
A few days ago I also introduced bitcoin to a friend but I advised him not to rush to invest in bitcoin. I told him that he should research and learn more about everything about bitcoin before investing because it can bring him profit but can also make him lose. He needs to understand everything about bitcoin because he will be the one responsible for his decisions, not me. So, in OP's story, I really don't see OP being successful in rushing OP's friend to invest in bitcoin while that friend knows nothing about bitcoin other than the profits that OP told. What OP is doing is harming his friend, not helping his friend, and showing others his investment is another bad idea of OP.
It is like declaring your asset which I believe should be only for public office holders, in this case it does not look as if its a public job so I frankly do not see the need for it.
If you want to let him in as a friend and confidant then its ok but to show him your holding is a bit risky from a security stand point. It is also not necessary as you are not trying to prove any point.
For me, when it comes to bitcoin hodlings, it should be confidential just like in your salary amount or savings because anything that you will share to other people possible will be using against you. I'm not a negative thinker type of person but I usually trust no one, even if you're my friend unless you're a part of my family. I realized that no matter how well you know someone, when it comes to a point where they are having a big problems financially, it's still possible for them to do something bad especially if they know you have such a large amount of investment or savings, they may come to you for a loan, rob you and worst is manipulating and cheat you. If you want to let him in as a friend and confidant then its ok but to show him your holding is a bit risky from a security stand point. It is also not necessary as you are not trying to prove any point.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
For me, that's not a wise decision. Let's assume that he listened to what you said to hold Bitcoin because of the upcoming bull run. Because of his trust and belief in what you said, he bought Bitcoin without knowing the idea or knowledge of it yet.
It's even better to say to ourselves that we are interested in what we want to know about something we don't yet know. So, I don't see that your friend really has an interest in learning about Bitcoin, because for me, if you have an interest in learning about Bitcoin and how it can really help us, it can be said that it is a wise decision for me.
But the one who just bought Bitcoin because of trust in you—that's not a wise decision. How come it was a wise decision to just buy Bitcoin but you didn't first have an interest in buying it because you really understood Bitcoin?
It is like declaring your asset which I believe should be only for public office holders, in this case it does not look as if its a public job so I frankly do not see the need for it.
If you want to let him in as a friend and confidant then its ok but to show him your holding is a bit risky from a security stand point. It is also not necessary as you are not trying to prove any point.
If you want to let him in as a friend and confidant then its ok but to show him your holding is a bit risky from a security stand point. It is also not necessary as you are not trying to prove any point.
I can really say that you have succeeded introducing to your friend about bitcoin and learn from it and eventually invest on it. With just a short period, your friend had decided to invest immediately. But isn't it too fast for him to decide like that? Bitcoin is a risky investment so he should learn to analyze it well if he's willing to take the risk or just learn first and study bitcoin thoroughly until he thinks hey ready and capable enough to invest.
Everyone can invest in Bitcoin, of course they have to understand the risks of the investment they make and when they understand, of course they have made the decision to invest and of course they have to try it with a little capital so that when they make a mistake in investing they are still able to survive. in the investments they make.What you say is very true, when someone decides to invest, they must study it thoroughly so that they don't make a mistake in deciding to invest which results in them losing the assets they own.
There wouldn't be an issue to start investing to gather experience, but the thing is money is still money, you could still lose it in the process if you just take blindly invested in Bitcoin. Plus the fact that person just starting or a newbie experiencing too many losses would eventually quit and give up, so in short, it's much better to start of with attaining knowledge first and be familiarize then you could start with little amount to gather experience cause it would be better to start off in your trading or investing journey where you can lessen the risk with your knowledge.
It is really great news that you have succeeded in convincing your friend about Bitcoin. Explaining Bitcoin to a newbie who is completely unfamiliar with Bitcoin requires a step-by-step explanation. What is bitcoin and how does it work, what is blockchain technology, hopefully a new user can learn about bitcoin.
I would say that convenience his friend for usage of bitcoin was one thing but more importantly it was the acceptance of it by his friend.
Usually we try to convince for near and dear ones about bitcoin but most of the time they won't agree to us. Maybe our tone or way of explaining is not so good or there maybe something else.
I can really say that you have succeeded introducing to your friend about bitcoin and learn from it and eventually invest on it. With just a short period, your friend had decided to invest immediately. But isn't it too fast for him to decide like that? Bitcoin is a risky investment so he should learn to analyze it well if he's willing to take the risk or just learn first and study bitcoin thoroughly until he thinks hey ready and capable enough to invest.
Flashing your Bitcoin like a flashy sports car might be tempting in the heat of the moment, but it's a risky game to play. Security and discretion are the holy grail of crypto, and one careless move can leave you feeling like you just walked through a minefield blindfolded.
While your intentions were pure – wanting to convince your friend about Bitcoin's legitimacy – revealing your holdings was like tossing a juicy steak in front of a hungry wolf. It's understandable, the excitement can be contagious, but remember, not everyone shares the same level of trust or understanding about this new world.
Even the closest friends can be tempted by the allure of quick riches, especially when it's staring them right in the digital wallet. It's not about questioning their loyalty, but about recognizing that greed and desperation can cloud even the clearest minds.
While your intentions were pure – wanting to convince your friend about Bitcoin's legitimacy – revealing your holdings was like tossing a juicy steak in front of a hungry wolf. It's understandable, the excitement can be contagious, but remember, not everyone shares the same level of trust or understanding about this new world.
Even the closest friends can be tempted by the allure of quick riches, especially when it's staring them right in the digital wallet. It's not about questioning their loyalty, but about recognizing that greed and desperation can cloud even the clearest minds.
One of the biggest advantages of using Bitcoin among cryptocurrencies is that Bitcoin allows for anonymous use. The benefits that are available in financial transactions are not possible in any other medium. But if you share it with your friend, you will lose the unique anonymity that is the main feature of Bitcoin. Moreover, personal safety should also be known. You can also convince your friend in other ways without giving your own information. You can use various strategies to convince him but should not show your wallet.
I am sure you didnt do it to show off, and that to me isn't a big deal.
The intent I believe is to encourage him to invest in BTC which seems to have worked.
I don't think someone can steal your BTC just by showing them the size of your portfolio. If they don't have access to your wallet, the best they can do I believe is to become envious, that's all.
The intent I believe is to encourage him to invest in BTC which seems to have worked.
I don't think someone can steal your BTC just by showing them the size of your portfolio. If they don't have access to your wallet, the best they can do I believe is to become envious, that's all.
Like many comments here, I think it was unwise and unnecessary for the OP to show his friend his bitcoin balance. What if OP's close friend tells someone else about the bitcoins OP is holding? I think OP didn't think about this situation so he hastily showed his friend his bitcoin balance.
As a bitcoin investor, I support the OP or everyone sharing bitcoin with those around them. But we should refrain from disclosing the amount of bitcoin we hold to others. That can cause dangers that we cannot predict because not everyone is a good person.
Yeah, that is definitely a big risk, there is really no need to share how much money you have with anyone, I mean I could because I do not have much lol, nobody would take any risk to steal my few dollars lol, but if you have a lot then you should try to avoid that.As a bitcoin investor, I support the OP or everyone sharing bitcoin with those around them. But we should refrain from disclosing the amount of bitcoin we hold to others. That can cause dangers that we cannot predict because not everyone is a good person.
In fact, I always thought how rich people live, because some people we know are rich, like Elon Musk is rich for example, how are they always so healthy and not getting any attacks, we do not even hear about it, we do not even hear that they are getting attacked by anyone, and that's the biggest name, there are smaller names with a few million or even few hundred thousand as well, which makes it tempting for bad people to do something. That must be the worst part about being rich.
Last week, an old friend of mine back then in the university in 2013 who later traveled to Canada to further his studies returned back to the country and yesterday, he coincidentally met my mum at a shopping mall and requested for my contact and my mom gave my number to him so he called and called the nickname that we both normally call ourselves back then in the university days I was so shocked to hear that and I called his original name and he answered and told me he is back from Canada and he requested we meet at a bar immediately.
So with excitement to hear from an old friend after so many years I just immediately took my bath and zoomed to the bar he directed me, so I got there lo and behold my old time friend. We exchanged pleasantries and started discussing about life and I told him how life have been so uneasy but that I got a job in a factory were am paid $60 for about 2 years now and i told him that my colleague at work introduced me to a forum called bitcointalk where i registered on the forum and learnt a lot of things concerning Bitcoin and i also showed him the amount of bitcoins i have stored in my wallet so far and he became curious to know about bitcoin and i explained everything i know about bitcoin and encouraged him to join me in buying and holdling bitcoin that we are awaiting the bull market after the halving so he became so furious and told me that since he knew me that I don't normally give attention to anything online (internet) but for me to hodl such huge amount of Bitcoins that it means am really serious about it so he became interested and ask me how he can buy Bitcoin as well so I told him step by step on how to buy Bitcoin and he bought Bitcoins worth $520 that is about 0.012194 btc so he told me that he wish to acquire 1 btc so I told him not to worry that he will use the DCA method to buy same amount of bitcoins at different interval then with time he will surely acquire the 1 btc.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
you have acted aggressively when you can have more time together since you have not seen each other for long time , there are so much time to introduce bitcoin and also showing your wallet that instant?So with excitement to hear from an old friend after so many years I just immediately took my bath and zoomed to the bar he directed me, so I got there lo and behold my old time friend. We exchanged pleasantries and started discussing about life and I told him how life have been so uneasy but that I got a job in a factory were am paid $60 for about 2 years now and i told him that my colleague at work introduced me to a forum called bitcointalk where i registered on the forum and learnt a lot of things concerning Bitcoin and i also showed him the amount of bitcoins i have stored in my wallet so far and he became curious to know about bitcoin and i explained everything i know about bitcoin and encouraged him to join me in buying and holdling bitcoin that we are awaiting the bull market after the halving so he became so furious and told me that since he knew me that I don't normally give attention to anything online (internet) but for me to hodl such huge amount of Bitcoins that it means am really serious about it so he became interested and ask me how he can buy Bitcoin as well so I told him step by step on how to buy Bitcoin and he bought Bitcoins worth $520 that is about 0.012194 btc so he told me that he wish to acquire 1 btc so I told him not to worry that he will use the DCA method to buy same amount of bitcoins at different interval then with time he will surely acquire the 1 btc.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
is this a true story or just a made one? sorry but this sounds truly a made up story for me because all the details are seemingly a book type one.
But OP didn't share his wallet yet. he was asking if he should have done that or not. and everyone gave him some valuable advices.
I hope he reads us and stay vigilant about his Wallet.
Its better to be safe that sorry and this is something that you should really be having in mind that you should really be that careful on the things that you are sharing up into.
Its not really necessary for you to show up everything because a simple link online that would be leading into those basic learnings and principles on what Bitcoin is should be enough or should suffice.
There are really just that those people who are really that not to mindful sometimes into their actions which they arent aware that they are really that putting themselves
at huge potential trouble.
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