Topic: Today I Have Shared About The Benefits Of Bitcoin With My Friends - page 2. (Read 429 times)

Bitcoin can gain big income but can also make huge losses, you need to let those investors know the possibility of losing their money first before they start feeling like they can make money, if they invest in Bitcoin and plan to take profit in a month's time they might be disappointed because a successful bitcoin holder are the long term holders.

Tell them the bad side of Bitcoin before telling them the good side, this is the best way to introduce Bitcoin to anybody, because without the fear part, they will believe that making money through Bitcoin is a smooth high way to succeed.

Some will agree and face their fear and most will run after telling them the bad part of Bitcoin and this bad part is holding long term before making gains and also the possibility of losing your Bitcoin.

If their mindset is all about making a profit because you've told them all this they will be the first ones to dump their shares when the bear market sets in or there are FUDS in the market, the profit or the financial gain should be the least that you're going to preach to them, it should be the underlying technology first and what this technology is bringing to the world.

It harms adoption if people who are going to buy Bitcoin only want to make a profit, they will ask for loans, and sell their houses just to become financially free, this is misleading and can harm your friends explain them the underlying technology and all the risk in the market.
So they will become educated and only invest what they can afford to lose.

They realized positively and they are eager to be a part of this gem. Currently they are now researching more because I also told him you can observe Bitcoin at Coinmarketcap and you should learn about it more by watching YouTube videos. I also told that there is a most popular Forum which is Bitcointalk and I also shared it there. They looks very excited by knowing about Blockchain technology. Hope soon some of them will join us.

Yes you r absolutely right and thanks for your appreciate . Yesterday I just first shared about Bitcoin. And they looks excited about it. I assured them I would help as much as I know specially about the transection and security.

Spreading information about Bitcoin is the pathway to wider adoption and use. You have done well to inform your friends about bitcoin and it is also good to know that they understood your explanation and some of them are interested in buying the cryptocurrency.

But before they blindly venture into the sector, you need to expose them to some basic lessons about Bitcoin transactions. They need to be exposed to the types of wallets as well as their advantages and disadvantages. You also need to teach them how to use these wallets to avoid loss of funds. They also need to be exposed to privacy and security. How to keep their keys and password safe should be a major content of your lesson. There has been an increase in the rate of hacks and scams, your friends most also understand how to safeguard their currencies from these evil players. You have done a good job by introducing them but there are still lessons to learn to avoid regret. Lastly, the decision to invest or buy Bitcoin should be made by them. Never persuade them because everybody must bear the risk themselves.

For Bitcoin to be the first decentralized project in the world is a gift to us as beneficiaries that as been tapping from the great features and utility that had been in existence since the launch of Bitcoin. Satoshi Nakamoto and his team have really changed the world of finance making it easier for us to make transactions without the need for a third party like the bank and other institutions that do help us to process our transactions.

Since the launced if Bitcoin, people had been seeing reasons of developing the world of finance in a way that is benefiting everyone with so many cryptocurrency projects available in the market. Blockchain technology has become versatile and even the government is here with us being a beneficiary of the work of a great man like Nakamoto.


BMaking mistake should not be a big deal because this is what makes us improve in life. Those who are big in the cryptocurrency industry have once in there lifetime make several mistakes until they get it right. If we invest in the wrong coin project and we make loses, it is an opportunity for us to improve our understanding about the cryptocurrency market.

And how did they perceive your information about bitcoin? Have they told you that it is very difficult for them and they do not want to change their lives by doing something new? Did they tell you that this is all a scam and they want to steal their money in this way?

I think the third point is the most attractive, and it is also the most tolerant advantage that makes others feel excited when introducing it to others. Inflation has been very strong in many countries, including the area where I live. Unemployment, high prices, everyone wants to find a suitable product to invest in, to ensure that their existing assets will not shrink, Bitcoin is a very good choice.

there is nothing wrong with teaching bitcoin, in fact it is a good thing with the aim of being able to improve the economy or help someone's economy by investing in btc.

what you are doing is extraordinary because you have shared your knowledge and experience with those closest to you, such as your friends and relatives.
but with the condition that you don't force them to invest in btc, and it would be even better if they were told about this forum so they would join this forum.
so they can learn about btc more.

You're not just sharing knowledge, you're planting seeds of financial empowerment! Teaching others about Bitcoin is like giving them a treasure map to the digital gold mine.

I already did from years ago and yeah they are now gainer(while others are losers because of their greedy behavior)
but at least they cannot blame me as I have explained everything from day 1.

just let them visit Bitcointalk.org forum mate https://bitcointalk.org/index.php and surely they will deeply understand what you said in this part.

What you're describing is totally fine assuming the person you're talking to is already a savvy investor to start with. But obviously, most people are definitely not and have little to no knowledge about investing in general.

I'm happy that your friends understand that BTC has a limited supply and agree that it would increase in demand and make sure that they have that piece of the pie of BTC. That's going to be their decision now if they would push through.

It would be nice if there are referring benefits though lol but of course, it's BTC. It's the actual benefit.

Teaching about Bitcoin to our friends and family is our duty so that more people can accept Bitcoin's presence. But that's only for those who want to learn something new and we shouldn't force them to learn too.

You can focus on teaching them about the investment side of Bitcoin so they can start collecting Bitcoin from now on. And don't forget to teach about the risks of Bitcoin and how to deal with the risks so that they can keep holding Bitcoin properly.

Apart from that, you also have to tell them that Bitcoin is not a way to get rich in a short time because they learn investing so they know that investing in Bitcoin takes time before you can get profits. In investing in Bitcoin, they should also learn about DCA buying Bitcoin and avoiding buying all-in.

Am I the only one that ain't telling this to others because of might scared that they will invest into it and turns out they lose their money and blame me . I know the initiative that you teach your friends is good but giving financial advice can also lead to loses . I just want them to discover it on their on and they will decide to invest into it not  because i introduced it to them

I like the idea that you've briefed your friends about the benefits but I think that you probably should tell them the negatives, remember that when some of them get in, they're bound to make mistakes and if that mistak is so severe, you're probably on they're mind when they want to blame someone for their misfortune so for your sake, tell them both sides OP, helps them too to make an informed decision about their next step.

Discussing the benefits of Bitcoin cannot be easily finished but some important benefits can be highlighted through the discussion. The biggest advantage that Bitcoin has is the role that Bitcoin plays in contrast to paper money. There is inflation in our country's banking system, but Bitcoin does not have that inflation. Moreover, if you consider the aspect of security, than keeping money in the bank ,It is much safer to invest on Bitcoin and keep it in your own wallet. Moreover, the amount of profit that can be obtained by investing in Bitcoin is not that amount of profit that can be obtained if the money is kept in the bank. Another thing is that Bitcoin transactions are fully secured. But paper money or fiat currency transactions do not maintain complete security. On Bitcoin You can control yourself but if you keep the money in the bank you will not have complete controlling system over that money.

Thanks, I hope you going well and healthy. I know how hard to teach people who don't know about something, that is very hard to tell them if what you say is important. I've been in your position the last year ago (when the price was around 16-17K), but they refused and told me that it is just an empty investment even a last year was the right time to step buy Bitcoin (DCA), and today they are regret because the price is around 26-27K, but strangely they are still not buying, they just wait for the price back to 16-17K, which I think they wait for mission impossible with the Bullrun phase.

I hope you continue it to family and be patient if have in the face of rejection situation.

Before thinking about sharing any information about Bitcoin, we must consider some matters. Not everyone likes crypto or Bitcoin, and it has not been fully accepted everywhere. So, there are 2 things that we must consider before we share Bitcoin with others, even if they are close friends or close people.
1. Legality of Bitcoin in our country
2. Their interest in things like crypto

If Bitcoin or crypto is illegal in your country, it is better to keep any information about Bitcoin. Never think to share it with anyone in this situation. You will endanger yourself and others if you share it carelessly. But if Bitcoin is legal in your country, you are free to share it with anyone as long as they are interested in it.

I'm personally a bit selective to share Bitcoin information with any people, I only share with people that I assume are probably interested. I avoid sharing with people who really love fiats and hate any digital currency like Bitcoin. Sharing with people who hate Bitcoin will get nothing, they won't take attention to any explanation given by us.

You are lucky that your friends are excited about Bitcoin. You are better to focus on them first, don't hurry to share your friends families or neighbors. Let's see the progress of your friends before you take a step further with other people.

No. They are more likely to invest and be motivated to do so. We are easily driven by the concept of money and making profit. But there's a downsdie with this keypoint; high hopes. You may be able to encourage someone to invest in this technology but since they are more likely to have high expectations of returns, they'd be easily discouraged once a crash happen as part of its market price volatility. It is indeed true that this industry has huge profit potential but problem is risk management. Again, you would be able to encourage someone because of possible profit but how would you make him/her stay? Not to mention the possibility of you being blamed for his/her possible losses.

This!
Always state the pros and cons not only the positive side, it should be balanced and understand the possible risk.
It's not advisable to only tell the positive side of Bitcoin without addressing the associated risks, there should be transparency and providing a balanced view which is considered critical when introducing someone to Bitcoin.  By discussing both the benefits and risks, you give knowledge to the individual to make a good decision based on a comprehensive understanding of how Bitcoin will work.

Because IMO, failing to mention the risks can create unrealistic expectations and may have a failure in investment decisions.  It's always important to ensure that they understand the potential downsides and challenges involved in adopting and investing in Bitcoin.