Topic: Succeeded in introducing Bitcoin to a friend - page 6. (Read 1378 times)

My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?

If you will ask me, it's a No for me, Even if were close friends because I want to maintain the confidentiality when it comes to my income, salary as well as about investments/savings. It's not like I don't have trust but It's much safer If I'm the only one who knows about it, Even to my family, I never informed my exact income amount so as to have less expectations.

You never really know, I'd prefer to not tell anything sensitive to anyone tbh. Also, I don't think there was real reason to show accumulated amounts to his friend, it could be avoided.

He met his old friend after 10 years, people completely change in this much time.

I don't think so.

Bitcoin discussions with friends require honesty, not salesmanship. Investing is always risky. This must be emphasised especially when leading friends. Knowing risks and potential advantages are important. Always say, "Invest only what you can afford to lose." This mantra is key to crypto investing. Consider the human element: friendship is built on trust. Responsible investment advice includes Bitcoin. When the market dips, as it often does, financial loss can strain your friendship. Not simply market trends, but trust, openness, and respect.

Why ?

I think it's not a big deal because Op mentioned that he was his old friend so there's no issue with the physical attacks as there some such cases already exist.

While you became successful in making your friend to invest in bitcoin, but I am worried on your friend as well because his decision to invest is such a rush. I believe greed is one reason, but if he's really smart enough, he should have research on it first before trying to trust and invest in bitcoin. You might be held responsible of his future losses, who knows.

Now, on your part OP, I would like to advise you to never show your wallet again regardless of how small your bitcoin hodling is. You never know what's running on your friend's mind so be cautious and be mindful the next time you introduce bitcoin to your peers.

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

I don't think so.

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I think OP just got carried away on his conversation with the friend. Maybe with a bit if a show off haha why would you show someone how much bitcoin you have, considering that is a friend you havent seen in a while.

To be honest, i wont talk about money to someone i havent met for a long time. Not everyone's comfy talking about money, and it could create weird vibes or even stir up unexpected expectations. Plus, you never know who's listening, right? Keep it lowkey and chat about crypto without turning it into a wallet show and tell. It's safer and you won't accidentally make things awkward.

Not a problem to me I guess since it's both of you that known each other and knew how much each of you hold. I also think that most of us have this similar type of story that we've got this friend and asked us about Bitcoin and told them to buy and then just hold it until they make a profit.

But when it comes to this, knowing how much I have, I never disclose it to anybody otherwise if I think the person is not trustworthy. I just simply say that I've got less in my holdings because I have to sell.

It's surprising to see someone that you've just met again although you're long time friends that has bought with that much. Because with my friends, they don't even want to place $10 for their first purchase as they're all scared. 

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?

The same story happened to me years ago and now he is not only my friend outside of social media but also one with whom I can talk freely when it comes to crypto-related matters. It's nice to have a friend whom you can ask for advice when it comes to certain coins for your investment because they will just gonna simply explain it the way you understand well and there will be no sugar coating because he truly cares for you when he advises you. Unlike taking some tips from influencers on Youtube, they will lead you astray and lure you to invest in their shitcoins and leave you in your investment after the project they introduced to you has failed.

That is what I wanted to tell him too. People tend to make these mistakes by saying that it's a gem and the profit is guaranteed. But, as a good friend, you tell them everything in detail. Most of the time people talk about only the positive side of something because they want to sell the product. But, when you are talking to your friend and you are talking about Bitcoin, you don't have to impress them about Bitcoin. You have to tell them everything so they don't blame you later.

I am sure that you guys heard that someone convinced his friend to invest in something and later the project failed or scammed. Would you ever trust your friend after such a incident? I know there are less chance that Bitcoin may fail. But, imagine if your friend buy Bitcoin and the market goes for a long bear market. You will lose your friend.