My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
It's smart but far from wise right now, for it to be considered wise, you have to tell that friend of yours the negatives of bitcoin too especially the volatility part, that's a big factor in my opinion that can decide if that friend will continue to invest in bitcoin because she's pumping out a lot of money in it for a newbie which wouldn't be advisable since it's a big money. Also tell her that she only needs to invest only what she can afford to lose because if she's hodling and her goal is the big profit in her bitcoin investment then that money will have to stay in a wallet for a really long time. Make sure that you're not going to be blamed in case the market goes down and her investment's value goes down because you're the one that's introduced her to bitcoin after all. Besides those concerns, I'm happy for you and your friend that you're able to invest in bitcoin and have hodling for the long-term in mind, may you reap great profits. 
Topic: Succeeded in introducing Bitcoin to a friend - page 7. (Read 1464 times)
I think it takes more than a week.
Anyway youre right that OP should consider both the positive and negative aspects. Open communication about potential risks is indeed crucial in any friendship. It's a valuable lesson in making informed decisions, especially in the world of investments like Bitcoin.
Anyway youre right that OP should consider both the positive and negative aspects. Open communication about potential risks is indeed crucial in any friendship. It's a valuable lesson in making informed decisions, especially in the world of investments like Bitcoin.
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.
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My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
you were right to give him a recommendation to invest in bitcoin because it could give him the opportunity to make a profit during the bull market, but it was not wise of you to give him the opportunity to see how much bitcoin you had. even though he was your friend at university, you haven't seen each other for a long time and we don't know how he has changed in the time you haven't seen each other. luckily your friend doesn't have bad intentions towards you, or it could be that the meeting becomes a nightmare for you.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
I understand the happiness in you for seeing your old time friend after a very long time and that was what made you to be over excited to show him your wallet. Remember to keep your bitcoin hodlings a secrete for privacy. I hope that he is not investing because of the bull run that you explained to him for quick profit so that he doesn't think that bitcoin is a get rich quick scheme, and if he misses out from selling during the bull run, when bitcoin will go to the bear market, he will blame you for not explaining that bitcoin should be a long term investment.
Some people are influenced by others. There are many who have changed their lives through friends. This bit of advice you gave about Bitcoin may be the best advice to change his life. Bitcoin is still a suitable investment medium for ordinary investors. Opportunities for small investors are gradually narrowing. After a while, it will become difficult for ordinary people to buy bitcoins other than institutional investors. If your friend can invest in Bitcoin by making a certain amount of money with DCA then he can definitely get a significant rate of return from this investment.
There are two positive and negative aspects mentioned the question. If your friend is honest and trustworthy then there is no problem here but if dishonest then there may be problem. But it would not be bad if you tell him without showing that amount. I would say that ensure your safety first.
There are two positive and negative aspects mentioned the question. If your friend is honest and trustworthy then there is no problem here but if dishonest then there may be problem. But it would not be bad if you tell him without showing that amount. I would say that ensure your safety first.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
No one cares how much bitcoin you have and telling your friends about it is your own choice. But one thing you need to know is that investing in Bitcoin will be much safer if you remain anonymous and provide amount of ownership information to your friends is an attempt at justification that you don't need to do. That's why many people are too lazy to teach other people about bitcoin because they tend to want to get involved once we show that we have the amount of ownership.To me this is ridiculous and what is your basis for telling him that? because if you think telling him how much ownership you have can attract his interest in investing. In my opinion you are digging your own grave and it will make you uncomfortable at times.
SNIP
You didn't need to tell the long story to simply say that. But I am okay with that. You just broke your privacy. I don't know how old you are. But after reading how furious your friend was after he heard about Bitcoin, it seems you guys are under 25 or maybe less than that. I am saying that because someone should not invest in something right after he heard about it.
To learn basic things about Bitcoin, a person need at least a week to to research and get more idea about it. When you give someone a positive idea about something, you should tell him the possible negative side as well. Otherwise, your good friend will turn into your enemy. At least they won't see you as a good friend anymore.
I think it takes more than a week.
Anyway youre right that OP should consider both the positive and negative aspects. Open communication about potential risks is indeed crucial in any friendship. It's a valuable lesson in making informed decisions, especially in the world of investments like Bitcoin.
What a great story , how long have you created this before posting ? anyway assuming
that all is true then why need to show how much bitcoin you has in a full strangers like him? you have
not seeing each other for many years but you have trusted him that much? sorry but like a created
topic to earn merit like many does before and yes they luckily started the trend and earned merits
but nowadays story's here and there coming ? not sure if this will still gain much.
that all is true then why need to show how much bitcoin you has in a full strangers like him? you have
not seeing each other for many years but you have trusted him that much? sorry but like a created
topic to earn merit like many does before and yes they luckily started the trend and earned merits
but nowadays story's here and there coming ? not sure if this will still gain much.
SNIP
You didn't need to tell the long story to simply say that. But I am okay with that. You just broke your privacy. I don't know how old you are. But after reading how furious your friend was after he heard about Bitcoin, it seems you guys are under 25 or maybe less than that. I am saying that because someone should not invest in something right after he heard about it.
To learn basic things about Bitcoin, a person need at least a week to to research and get more idea about it. When you give someone a positive idea about something, you should tell him the possible negative side as well. Otherwise, your good friend will turn into your enemy. At least they won't see you as a good friend anymore.
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.
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?
OP, with what I see, you are still a newbie, did you learn bitcoin before joining this forum, if your answer is yes, it is fine, but if you say no, I will say that you learnt very fast to even introduce someone to bitcoin, since you have learnt, I strongly believe that you have told your friend that bitcoin is not a fast money making investment, having other earning while you invest the little you can will help anyone to hold for as long as you want.
Any amount he want to invest should be personal, don't give advice to that effect so that you will not be held responsible if any ugly situation occur.
In the aspect of showing him the amount of btc you have acquired I don't think that's a wise step to take because I think that bitcoin is personal stuff unless in some cases it requires you to reveal your btc balance which is rare.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
This is like showing your bank account balance to someone. Are you comfortable with that? if you are then no problem. Well, he's got the idea now that he's got more money than you so I guess that's fine for him but it won't be enough if he gets interested.
Because whether you show it to him or not, if he's truly interested he'd do his own research about btc.
that is exactly true. with the current technology these days, basically everyone can do their own further research if they want to explore things. we don't know the absolute truth about the OP's story, but if that was indeed true, then, yes, he got his friend's interest into this market. but do remember that he should advise him about the risks involved in getting into this market.
there's nothing wrong showing someone else's your wallet. but do you really think that is a smart move? i am not comfortable on that kind of situation. but as a holder, much better to be discreet with your dealings here. you'll never know potential risks that you are getting into up until you are in the terrible situation of losing your funds.
do remind yourself that you don't need to convince anyone to be on this market. they can get involve here, but it should be voluntary. they won't hold anything against you whatever may happen to their assets.
That's even one thing about Bitcoin, privacy. But with the way he has introduced it to him, things seems are good to both of them.
Well then, good luck to all of us holders.
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.
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.
I agree that you succeeded in attracting your friend to invest in bitcoin, but the problem is you never taught him how to secure his bitcoin, by not sharing it to others or letting other people know that you're actually owning bitcoin. What you showed OP creates a wrong concept about bitcoin, and he should not imitate you, otherwise he will blame you in the future if he lost his bitcoin because he also show it to other people to attract them to invest.
It's not too late OP. You can correct your mistake by teaching him the right way to secure the safety of his coins. And for you OP, beware of the future scammers. Your investment might be at risk already the moment you share your bitcoin hodlings to your friend.
It's not too late OP. You can correct your mistake by teaching him the right way to secure the safety of his coins. And for you OP, beware of the future scammers. Your investment might be at risk already the moment you share your bitcoin hodlings to your friend.
This not a big deal, if I will create threads to all the people I have introduced Bitcoin to, it will full 20 pages article because they re many but I don't have to to write threads on that. Because that is not an achievement. And also before you introduce Bitcoin to someone you have to know the two major risk involved now. Tell the person the high transaction fee and also the volatile nature of Bitcoin so that when the person comes to the field and anything happens he would know that you have told him before so you would not be blame again in any downfall of the person.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
It is not a bad decision to introduce people to Bitcoin because you are indirectly promoting Bitcoin adoption. But you have to give them the right information and also teach them how to keep their Bitcoin safe. Although this condition is relative to my location, I don't like telling people that I own Bitcoin because it could attract criminals such as armed robbers, kidnappers and fraudsters. Most people in my area don't know that Bitcoin can be bought in bits so they assume that you own one Bitcoin and above if they know that you own the coin. This has made me keep my hodling secrets and only discuss Bitcoin with fellow Bitcoiner.
Now to your question, I don't think you had to show him how much you have accumulated or how much profit you have made to attract him to the sector. This might make him see Bitcoin as a get-rich-quick scheme which is a wrong perception. He should be able to understand the Bitcoin space before investing to avoid regrets.
OP, what you did only bring danger to your bitcoin. You said you had never seen your friend for such a long time so you really are not sure that time what he's been into. He might be a scammer or a fraudster. Sometimes, what you didn't expect tends to happen to instead. So do not be too trusting even to your friends. You do not know what they are capable of doing when you're not already around.
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 well introducing your friend to bitcoin, but it was not a wise move to divulge the details of your current bitcoin balance even though you see the person as friend or family. We always need to be cautious when we tell people things, so we do not over speak and share the information that is not meant to be shared. You can be friends with someone and they are not friends with you, and also your relationship with someone may not remain the same forever, so always be cautious the information you divulge, sensitive information about yourself can be used to hurt you later.However, you do not need to reveal your Bitcoin amount and details as it is very risky. Moreover, OP states that she hasn't been friends or known him for years, maybe he was a good friend at that time, but OP also has to consider whether the person he was then is still the same as he is now, and this must be taken into account.
And this is a beginner's mistake and who knows what the purpose is, if only to make them believe by showing ownership. In my opinion, it can't have any effect, it will actually make you cry if something undesirable happens.
And a good way in my opinion is, you become generous and change overall significantly so that it makes them wonder what made you change, and with this you can easily introduce Bitcoin because the proof is that you changed in appearance and also financially.
Well, there are people who are open minded and does welcome new ideas or things on which it would really be that somewhat interesting in making out some explaination into those people
who are really willing or interested to heard of but if its not or totally opposite then it would be better that they should really remain still and sit up and miss out those good opportunities.
Dont try out to speak or reach to me on the time that the market will really be that evident or something that makes up some noise.
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 doesn't matter when we introduce Bitcoin to anyone. However, there are several things that need to be considered before we decide to invite him to invest in Bitcoin, whatever the method. My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
The first thing that must be informed is not only the possible profits but also the risks that must be faced. Don't let your friends think that this is zero risk. This will create missed understanding later. Then, make sure that your friends also have time to learn more about investing in Bitcoin and the crypto space in general. Don't just be about getting lots of money and profits. So, balanced information is really needed here.
And regarding you telling how much BTC you have, I don't think that should be necessary. Because you need to maintain your own privacy and security. This is quite dangerous.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
In my opinion, it is not the right behaviour not to pay attention to the privacy of your wallet. In the market, such behaviour is often seen as a mistake. Of course, there may be people we trust, but we need to be completely sure. The way to convince your friend is not to show him your wallet, but to give him information about the subject he is curious about.
In some cases, showing your wallet can be more effective, i.e. you can influence the other person and encourage them to find out more about what they want to do, but this is a risky move.
It's good to tell someone about Bitcoin and convince them to invest in it. You are guiding someone in your circle to the right investment vehicle. And don't forget to mention the risks of the market.
indeed the best way to attract someone's interest is to show them what we have and in this case you as a bitcoin investor show the bitcoins that you hold, which automatically makes your friends very interested, But the important question is whether you also warn your friend about the risks of investing in Bitcoin! Many people don't explain in detail what risks they might encounter when they become a Bitcoin investor, There are things you need to explain about the benefits of investing in Bitcoin;
- Bitcoin price is volatile
- best private wallet for Bitcoin (long term)
- best exchange to buy bitcoin
etc
and you also have to be prepared to continue receiving questions from him, it will likely annoy you until your friend really believes in bitcoin, it's not easy to introduce bitcoin to other people, but we have to do that to encourage bitcoin adoption.
- Bitcoin price is volatile
- best private wallet for Bitcoin (long term)
- best exchange to buy bitcoin
etc
and you also have to be prepared to continue receiving questions from him, it will likely annoy you until your friend really believes in bitcoin, it's not easy to introduce bitcoin to other people, but we have to do that to encourage bitcoin adoption.
Telling people the good sides of Bitcoin without telling them the other sides of Bitcoin is very risky. Newbies also need to be aware that the bitcoin price is very volatile which can either reduce or increase the value of their investments. They should be fully aware of the inherent risks involved in investing in Bitcoin, also the dos and don'ts.The OP might be in some sort of trouble if at the end his friend begins to make losses instead of gains as opposed to what the OP told him and this might affect the friendship in the future.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
As much as I find this story sketching and a pure work of fiction, I still need to advice. Ten years is a lot to change someone you knew before. Showing your your Bitcoin holdings is not safe at all. It can expose you to different attacks. Your financial information is one of the things you should keep private. Those you trust can change any moment.
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