You just talked about your experience with your friend and there is no option left than to believe all what you said.
You made a good decision first introducing him to Bitcoin, I know it must be very difficult trying to convince him into investing his money into Bitcoin that was the reason you had to show him your portfolio so as to be able to convince him. Great! Since he also invested into Bitcoin and you showing him your balance did not go for a waste.
It will be very difficult to judge about you showing your portfolio to your freind as we don't know how close and trustworthy that your freind can be. Some freinds come with a face of an Angel but the heart and minds is something else. Just for learning and further purpose you do not need showing him your portfolio first before convincing him, investing in Bitcoin is not by force and not everyone will partake in it
Topic: Succeeded in introducing Bitcoin to a friend - page 9. (Read 1464 times)
Good job my friend.
The more bitcoin players , the safer the bitcoin system.
Do it whenever you have time , it worth.
The more bitcoin players , the safer the bitcoin system.
Do it whenever you have time , it worth.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
Whether this was a cooked or sugarcoated stories, you didn't even give it sometimes and you just start talking about your Bitcoin journey and how you convinced him just so sudden to Invest in Bitcoin and which he gave you the benefits of doubt 🧐.Since you succeeded to convince him with the expecting bull-run in the nearest where the appreciations of Bitcoin trading and investment lies, hope you also talked to him about the depressions where can be saddened and when the market value goes biased?
Did you made request to know if he was going to trade and Invest in a short term or a long-term goal?
Did you also asked him to invest with a tolerable capital which he can afford to lose? If yes, why didn't you consider his next move to purchasing more bitcoins if he could afford to tolerate with such amount as a more advantages to an appreciatable of more incomes in the said expecting bull-run since the marketing system demands that the more is invest in the more is profits gain during the in profiting eras (bull runs).
What is the probability of his basic knowledges about the industries before he came in?
Sounds like you are acting as a guarantor for him Incase expectations goes contrarily because you made him believed you and not considering the potentials of Bitcoin.
However,it should be assumed that you are already business partners because the deal is done already that you have said it all and has also brought him onboard to where you are. So basically, no more secrecies rather than sharing updates and Ideals on your quests to Bitcoin.
Not safe and prudent to show your wallet to anyone.
If he is a good friend that we can trust, then the risk of showing our wallet to him should be null. And It would be a good way to motivate his friend to start using it.
The problem is see here is the bad timing for doing it, introduce bitcoin to your friend when Bitcoin is at a high price isn't cool at all because they will think they are late for that party, Just like the people who bought bitcoin at $60k some years ago. For them, it was a terrible experience.
If you know and understand bitcoin well, you will never disclose whatever amount of bitcoin you have because that's still considered a digital cash, your kind of asset that you need to keep it privately away from the awareness of other people even your closest friend or relative. Because once you do that, the safety of your bitcoin will now be at risk, thus putting your wallet as well from the danger of future hacks or scams.
I understand that you come to overshared what you have, and it's definitely not the right thing to do when you are in an investment. There's no issues with educating your friend about bitcoin and bitcointalk forum, but never risk your own privacy just to successfully convince your friend to invest in bitcoin. In bitcoin, there's no one you can trust but only yourself so learn not to be easily trusting even to your closest friends.
I understand that you come to overshared what you have, and it's definitely not the right thing to do when you are in an investment. There's no issues with educating your friend about bitcoin and bitcointalk forum, but never risk your own privacy just to successfully convince your friend to invest in bitcoin. In bitcoin, there's no one you can trust but only yourself so learn not to be easily trusting even to your closest friends.
Never show your balance to others, do you show the balance on your bank account that freely to your friends? If not then why do you treat bitcoin differently? Another problem is that your friend got interested in this market purely for financial gain, and someone like that will most likely not have the ability to hold their coins when the market goes down in value, and finally it does not seem as if you talked to your friend about all the dangers that exist on this market, and if they lose their money they will surely blame you.
Showing the wallet balance is not the better option in the trading,because to show them you are superior to them.You may wish to prove your superiority,but if your friend get more details about your wallet.Then he can’t stole the bitcoin in your wallet,even you can’t find whom had made this mistake.So keep up your own privacy when you think about your wallet.If your friend had followed your words and invested their money means,the loss will make them to feel uncomfortable in the crypto currency trade.
Friends are great and friends are great losers so definitely don't show your personal investment amount to anyone. You can tell anyone about Bitcoin whether they are interested in Bitcoin or not, it's their personal matter to show them your personal investment amount to get them interested. Bitcoin is a potential currency that anyone who avoids will regret in the future. so there is no need to force anyone to join Bitcoin. You continue to invest in Bitcoins while maintaining your privacy. and definitely follow the DCA method
Not all the friends are mature to handle the crypto trade results,if the trade was leads to loss.Many of the friends will blame you because of your information for the trade.But if you skip to help him,he will say bad about you in the back side.Like you not help him to buy the crypto currency.
...
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
Never show your balance to others, do you show the balance on your bank account that freely to your friends? If not then why do you treat bitcoin differently? Another problem is that your friend got interested in this market purely for financial gain, and someone like that will most likely not have the ability to hold their coins when the market goes down in value, and finally it does not seem as if you talked to your friend about all the dangers that exist on this market, and if they lose their money they will surely blame you. My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
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?
Friends are great and friends are great losers so definitely don't show your personal investment amount to anyone. You can tell anyone about Bitcoin whether they are interested in Bitcoin or not, it's their personal matter to show them your personal investment amount to get them interested. Bitcoin is a potential currency that anyone who avoids will regret in the future. so there is no need to force anyone to join Bitcoin. You continue to invest in Bitcoins while maintaining your privacy. and definitely follow the DCA method 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?
---
After I showed him the amount of Bitcoins I have bought then he just developed interest and since he knew that am not easily convinced on anything concerning the Internet but I told interest in buying and hodling Bitcoin that it's really something that's genuine.
After I showed him the amount of Bitcoins I have bought then he just developed interest and since he knew that am not easily convinced on anything concerning the Internet but I told interest in buying and hodling Bitcoin that it's really something that's genuine.
I think it's great you've been telling your friends about Bitcoin. Sharing knowledge is so important. But with investing stuff, you gotta be careful not to overwhelm newbies.
Still, seems like you covered the basics solidly for your buddy. the basics matter most and like you said about seed phrase - that's key for protecting coins. But, this stuff changes fast though, so we all gotta keep learning. But good on you for helping get him started. Just try not to info overload the guy you know? Start slow and build up.
Have you told your friend that Bitcoin won't always go up? While waiting for growth, your friend should understand that the money he invests should not be his last penny. And also the importance of storing the seed phrase so as not to lose everything one day.
I saw your post where you are disappointed to report that your amount began to decrease after buying Bitcoin at a not-so-low price. Therefore, encouraging your friend to invest puts some responsibility on you if he is unprepared for volatility.
And before you show your Bitcoin amount, you might want to think about your security. Your friend has been away for a long time, and you don’t know what has changed with him over time.
I saw your post where you are disappointed to report that your amount began to decrease after buying Bitcoin at a not-so-low price. Therefore, encouraging your friend to invest puts some responsibility on you if he is unprepared for volatility.
And before you show your Bitcoin amount, you might want to think about your security. Your friend has been away for a long time, and you don’t know what has changed with him over time.
Yeah I told him about the fluctuations in the price but that it's not really gonna affect the Bitcoin he has hodl just as you guys explained to me on the topic I created in beginners and help session, I also told him on the importance of keeping his seed phrases safe as if he loses his seed phrases that the Bitcoins he had hodl cannot be recovered. Me being too fast to blow everything to him was just out of over excitement though.
I don't need to read all this story to know you fake it with your imagination. This quoted part in the story shows you lie about this fiction that does not exists in your real life.
Well if think it's an imagination and all lies then it's fine.
If your story is true, did you friend buy $520 worth of Bitcoin just like that? He didn't inquire more about what this Bitcoin is or how does it work?
After I showed him the amount of Bitcoins I have bought then he just developed interest and since he knew that am not easily convinced on anything concerning the Internet but I told interest in buying and hodling Bitcoin that it's really something that's genuine.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
Not safe and prudent to show your wallet to anyone.
Don't reveal the amount of the bitcoin you have to anybody, I have done the same mistake in the past and today many people hate me for it, they believe that I still have a lot of Bitcoin and I am a millionaire, already, not in the making.
You will just end up exposing yourself, and can you even trust your friend? When it comes to success and money do not trust any human being, tell them about Bitcoin but never expose your worth to anyone, you can become a target of anyone.
You don't have to confuse anyone that they must invest in Bitcoin, those who will still walk away will do it, till this day some people still don't have any interest in Bitcoin, it's not their fault, they are been scammed many times online and they believe all are scam.
You will just end up exposing yourself, and can you even trust your friend? When it comes to success and money do not trust any human being, tell them about Bitcoin but never expose your worth to anyone, you can become a target of anyone.
You don't have to confuse anyone that they must invest in Bitcoin, those who will still walk away will do it, till this day some people still don't have any interest in Bitcoin, it's not their fault, they are been scammed many times online and they believe all are scam.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
Teaching someone about Bitcoin is not a bad thing. OP, you taught your friend about Bitcoin and did a good job getting your friend interested in investing which is commendable. OP, did you explain Bitcoin to your friend correctly? Did you properly explain the risks of Bitcoin to your friend? If you can give your friend an idea about Bitcoin in all aspects, then surely you have done a good job. Your friend should be told in such a way that he does not hold you responsible if the investment suffers in the future. If your friend can invest in DCA method from now and hold for a long time then he will get a lot of profit.OP, as everyone told you, I'd also say you shouldn't have shown your bitcoin holdings to your friend. In today's age, you can't even trust your own brother, friends are far away. But not all friends are bad, there are some friends who will give their life for their friend but will not let anything happen to their friend. Don't know what your friend is like? However, you should be careful and take care of your holdings. You ask your friend to hold bitcoins in a good wallet.
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 not really wise, but if you fully trust this person - that's fine. I just hope that he understands all the risks.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?
Getting your friend interested in Bitcoin investing is only wise when your friend is successful in investing and appreciates you. Your friend has heard about Bitcoin from you and seeing the Bitcoin deposited in your Bitcoin wallet has made him want to know more about Bitcoin and Bitcoin investing. It is normal because if my friend sees my position then my friend will have the same attitude. Tell your friend about Bitcoin and better about Bitcoin investment. Knowing your friend is a bitcoin investor should teach you to avoid the pitfalls of bitcoin investing. Because investing is not easy, retaining investment is the biggest challenge. 
Have you told your friend that Bitcoin won't always go up? While waiting for growth, your friend should understand that the money he invests should not be his last penny. And also the importance of storing the seed phrase so as not to lose everything one day.
I saw your post where you are disappointed to report that your amount began to decrease after buying Bitcoin at a not-so-low price. Therefore, encouraging your friend to invest puts some responsibility on you if he is unprepared for volatility.
And before you show your Bitcoin amount, you might want to think about your security. Your friend has been away for a long time, and you don’t know what has changed with him over time.
I saw your post where you are disappointed to report that your amount began to decrease after buying Bitcoin at a not-so-low price. Therefore, encouraging your friend to invest puts some responsibility on you if he is unprepared for volatility.
And before you show your Bitcoin amount, you might want to think about your security. Your friend has been away for a long time, and you don’t know what has changed with him over time.
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.
You do have a point. Maybe the OP became too excited or got into a deep conversation with his friend. Based on his story, maybe that's the case, but the thing is, I don't know. I don't want to judge the OP. Maybe it's a little bit too much to show your friend all your assets because, although it's your friend, he may have an interest in your wealth or assets, or out of envy, he will sabotage you. But yeah, I'm here not to judge, but to give my opinion. Next time, don't just show off your assets. Yes, you could mention that to them, but don't literally show how much you have or the exact amount because it's still much better if you are on lowkey.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.
Anyway, its your own life. I'm sure many here have also had violent reactions to your bragging or being a show-off. It's not a bad idea to know that you are doing crypto currency or bitcoin stuff, but literally showing your assets is what's bad.
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.
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.
Think about it — what do you actually get for flaunting your bitcoin holdings or literally any wealth in general? You just get your ego stroked for a few minutes and then what? It's all downside from there — suddenly people will be asking you for loans, asking you to treat them out, or god forbid some malicious person would somehow learn about it and hit you with a $5 wrench.
https://chainsec.io/wrench-attack
https://chainsec.io/wrench-attack
Jump to: