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

It is definitely a smart move to talk about that. I think if you tell them the risks, then they will think that it's a risky thing at first but then they will see the good side and they will think will the risk worth the reward and approach it that way.

However, if you talk about the good side first, they will think that it's too good to be true and whatever bad you tell them they will not believe you, it just won't make any sense at all. This is why it's smarter to just go with the bad side first and let them know what could go wrong, it will benefit them a lot and it will provide so much for them as well. I personally do enjoy the situation to be a lot better currently with the way we are having trouble, and it certainly is a great risk we are taking, all my money is in crypto and I feel no fear at all.

I don't know if it's just me only, but when I was a newbie, I don't care about these 2 things.
Bitcoin being decentralized? Anonymous transaction? Why would I even care about that.

Until I learn more about cryptocurrency, Bitcoin, and the internet itself. It being decentralized is a big thing because nobody can control it. Just a bit correction Bitcoin transactions aren't completely anonymous because an expert can still track your transactions base on what's in the blockchain. Well, it's good that we don't need to share personal information when we are making transactions unlike banks where we need to go there, write our personal information before making transactions.

This is where you are wrong.

Huge profits by buying, and holding it? Well, it might partly true, but did you share that you can get potential losses while doing that? Buying, and holding isn't a guarantee profit FYI. There is still a chance that you might get losses during the process. This is why many new investors are losing money in cryptocurrency. They mindset that they can get huge returns in crypto is a mistake especially if they don't know what are the risk of investing into it.

This seems good to a lot of people because there are still a lot of people who don't have a background in bitcoin anyway. But you haven't mentioned how terrible the risks of bitcoin can be for these newcomers. You must provide a balanced view and ensure that individuals are aware of the potential risks and challenges involved in investing in Bitcoin. In addition, you don't have to learn knowledge to be able to apply it right away; this takes a lot of time to accumulate experience for yourself to be effective. This can contribute to a more comprehensive understanding of the market and better decision-making.

This is right!

Everytime we do really explain about Bitcoin or crypto into other people whether on our loved ones,relatives or friends.Always be mindful about on speaking about the con's too or the negative about dealing with crypto.
Dont let them expect that much when it comes on making money or giving out that kind of hope and assurance because making money of this market is never been that simply but somewhat you could really be able to held up for long term which it is really that likely that you would be able sued out on the time the price would really be going into the opposite side.

So if you dont like for having those possible conflicts then its better to be transparent and explain everything even with the basics.Dont make out guarantees so that you wouldnt really be creating some problems.
We know that once money is the issue then close relationships would really be broken into pieces and cant really be taking it back forever which it is something that we should really be
avoiding it for it to happen .Always be mindful about that risks management once you do step your foot into this market which is really that too volatile and unpredictable.

Yes, tell them its positive points but emphasize also its  negative sides, and it’s up to them how they will weigh things right. Never give them assurance that they’ll really end up profitable in crypto, as a lot have been losing because most of them have become impatient while waiting for the bullish season of the market so they can start selling at a reasonable price. Just tell them that crypto investment has no guarantees to make us profits, so they can decide on their own if they still consider investing or not.

We will only know once they personally experience investing in bitcoin as some people are just only eager to start but still end up quitting because of being impatient and can’t deal anymore with bitcoin’s high volatility. So even if you say positivity about bitcoin OP, that won’t guarantee that they’ll end up profitable just like you have assured them. Tell them all the negative sides of bitcoin instead, and let them decide if they still want to invest or not.

I would have to disagree with the premise of anonymity. Bitcoin is only anonymous as long as nobody can connect your transaction with your actual identity or your personal IP address. Once somebody knows where the Bitcoin goes (Everybody knows, since Bitcoin transactions are on a public ledger) then its only a matter of finding out who is sending or receiving the coin. If you pay/buy/sell/loan Bitcoin, you need to make sure that anything that can be used to trace your coin to you, will be used as such, in case someone wants to look for you.

Fiat is much more anonymous than Bitcoin and therefore much more suited to criminal activities. Bitcoin is transparent and public.

My point exactly. Selling this kind of benefit to people is simply telling them the half truth about BTC. But what if they invest and the price suddenly drops to half their entry price. They will blame you for misleading them and may never believe you ever again.

I agree with you on this, if anyone follows this kind of knowledge about about BTC, then they probably know nothing about BTC, you will go around believing that investing in BTC is a sure way of getting rich quick; which is not exactly correct.

It's great that you've gotten people interested in investing by teaching them about Bitcoin. However, since you understand your friend so well about Bitcoin, your friend is particularly interested in investing in Bitcoin. But of course you need to warn them about this before investing in the Bitcoin market. They need to be made aware of the risks involved in investing when the Bitcoin market is volatile at times. Make sure you are well-informed about all aspects and then give advice for Bitcoin investment. If you don't tell him about the volatility of the Bitcoin market, he could be particularly vulnerable. So I think it's best to invest in Bitcoin later after understanding that the investment will be successful and profitable.

You mentioned each and everything very well but I think a person can only get these points once he get involved in it because hearing and doing both are very different things. Volatility is on its peak so if your friend heard about the bad and good characteristics of bitcoin so its also necessary for him to learn very well after experience these events.

People desires to make quick profit with bitcoin investment but they forget about the actual things that in every step of life you have to be patience if you wants to be a successful person. Buying low and selling high is necessary but it does not completed the sense because sometime a person don't know what is the lower price and what is the higher but try to understand that whenever you have benefit then take a positive decision to sell it by avoiding greediness.

It's really nice teaching your friends about bitcoin, atleast you are trying to encourage more people to invest in bitcoin, you told them how they are going to make money from bitcoin, but you didn't tell them they can also lose money, you are only hyping bitcoin for them, but you should tell them some bitter truth about bitcoin also, you told them they can make huge return, so you also have to tell them they can lose, so that they will only invest any amount they can afford to lose.

I don't know if any of them is ready to invest in bitcoin, if they are ready, then you have to go back any explain some things to them like how to secure their private key, how to protect their wallet from hackers and other things, I know it will be kind of painful to invest in bitcoin and you later discover that you can't access the wallet which you kept the bitcoin or you can't find the bitcoin in your wallet again.

It's good for you to share your own experiences and lessons about a comprehensive understanding of the technology of bitcoin and other cryptocurrencies. However, make sure your friends understand that investing in Bitcoin involves uncertainty and that the value can go up or down. Encouraging them to conduct their own research with caution is key. Remind them to only invest what they can afford to lose and consider diversifying their portfolio. Everyone's financial situation and risk tolerance are different, but respect their choices and encourage responsible decision-making.

I'm not sure I would have if they hadn't started it first or complained something about how to make money. Honestly, it's not our responsibility to teach bitcoin to random anyone regardless if it's your friends or anyone in the real world. You never know if they are interested in learning or maybe just interested in your investment which you might also say during the teaching process.

If I were you I wouldn't do it until they asked me one thing, but it's always great if you can encourage more people to get involved in the crypto world instead of being unemployed without a job. Maybe I should get used to taking different approaches and choosing who is worthy among several, of course it will be useful for them.

Instead of telling them how much good Bitcoin is, why didn't you gift them a few mBTCs? Wouldn't that be far better to get them in? I think they would be far more interested to learn what Bitcoin is when you would gift them a private key containing 1 mBTC. They would be more interested to know how to claim the bitcoin from the private key which would create more interest to learn about bitcoin when they would find it such easy.
Whatever you have said is fine but mentioning them about huge returns is weird. You never know what's going to happen. You are trying to make them greedy and invest in Bitcoin while it shouldn't be the case, it's better if they want to learn instead of getting greedy to make profit.

You are from Bangladesh. Do you know how much risky it is to discuss Bitcoin? Bitcoin is illegal and you could be charged if the authority finds you are using Bitcoin. It's better not to share a lot of your cryptocurrency life with your friends. You never know when and who is going to cause you trouble.

BTC uses a public ledger, so its transactions cannot be anonymous, it is pseudonymous, your address can surely be seen on the blockchain, but if you have not given away your privacy to centralized exchanges, then nobody knows who you are nor can trace the address to your identity. If you don't want to lose your privacy to centralized data farms, use p2p exchanges, you have good options to choose from in this link: https://kycnot.me/

I don't believe that anyone has duties to relatives, apart from the duties of parents towards their children (because the parents made them and are thus obliged to care for them), so there's no duty to share knowledge about Bitcoin with relatives or friends. When people show interest, I tell them a bit, but I never focus on the investment side of it (point 3 in the op's post) because I don't feel comfortable giving that kind of financial advice to others. I say Bitcoin is a different type of money, it's innovative, but that it's volatile.

It's great to share your knowledge about Bitcoin with your friends or family especially when you teach them how to use it and ofc you need to cover the basics (assuming that you've done that already). If you do it correctly there's a good chance that the majority of your friends/family will become interested in Bitcoin soon. I feel like getting involved in this community earlier rather than later is beneficial especially considering the potential for Bitcoin's price to increase alot in the future.
It's true that you can gain huge returns by investing in Bitcoin but the hardest part is knowing exactly when to buy in order to make a profit. It can be really difficult to predict the movements of Bitcoin especially this year. Probably it could be a good time to invest now or it might be better to wait for the start of a bull run.

This doesn't sound right at the moment because, in reality, we still use an exchange to convert our bitcoin into fiat. Anonymous transactions would only occur if bitcoin were already widely accepted and the government did not intervene. Currently, bitcoin serves as an alternative exchange or payment system, but ultimately, people still cash out for fiat currency. Most crypto exchanges do require KYC (Know Your Customer) verification from their users, which defeats the purpose of anonymous transactions.

  You did well. At least before letting them in on the benefits, you must have first enlightened them about Bitcoin. But just as almost everyone one has noted, it's not every person you discuss Bitcoin with that would buy the idea. And using point 3 as the clickbait to help sweeten the point is a bit wrong as it makes it look like Bitcoin does not bring losses too. What if you invest and instead of huge returns, you record huge losses? In a way, it would mean you've painted it wrong.
 While it has its advantages and gains, it also has risks too as it's price is not stable

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.

that should be his next step - share the flaws of this market so they won't expect much and not be blindsided by most expectation that this market is their saviour from poverty.
you can also share some brief pros and cons of BTC. actually, in this forum alone, you will find a lot of dedicated discussions on this topic.
link



you need to make sure that your friends also the other side of this market. so they know, you're not at fault if something goes wrong with their journey.

Very few have the luxury of explaining so much in details to others about bitcoin and that's no because they don't want it to spread to other but that they fear to play the blame game should anything worse about the cryptocurrency market happens.

OP you have taken time to school your friends about bitcoin and the positive side of it and I can only imagine how elaborating you were but I hope you did mention some other key areas of responsibility and risks that is inevitable that as a cryptocurrency holder you're bond to experience such as:
 
-privacy and security of your keys (your responsibility)
- market volatility which may delay your investment plans like almost forever.
- The needed wallets and exchanges depending on their choice about KYC, etc.

When next you have them around do well to through more light on these key areas and watch out if they still show interest, so it not be to them like bitcoin is one get rich quick kind of schemes out there.
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Maybe in this part it is not correct to say that anyone can earn a large amount of bitcoin, because the chances are very high that they will blame you in the end, and they will think badly of you.

      And your good intentions with your neighbor to share bitcoin will only tarnish its image in the end. Maybe it's right that you can tell the good features that Bitcoin can do and be transparent with the disadvantages that can also be faced here so that they are also aware of such things.

Did you inform them of the risks associated with Bitcoin investment?
Not the risk of losing money due to market fluctuations, but the risk of selecting the suitable bitcoin wallets. Ensure that they did not use centralized exchanges to store their Bitcoin, and that they have a decent and basic educational background in keys and addresses so that they understand how vital their private keys are in order to manage it well.
Also, remind them not to borrow money to invest in Bitcoin, and that they should only invest what you can afford to lose.

Anybody who follow the step will not invest in Bitcoin because if you use this kind of encouragement to invest in Bitcoin you'll be expecting a huge profit in cryptocurrency or in Bitcoin but people does not understand it that way that is why many people today dislike bitcoin because of this kind of information you must teach somebody the advantages and the disadvantages of Bitcoin the secret behind bitcoin so that when it happened to be lose them person will bear it without double thinking

Point number 3 ( can make huge returns) is not necessary, it will give them the impression that if they are not making huge returns when they start investing, it then means you either lied to them, or they probably weren't carve out for it.
Point 1 & 2 are okay and enough for them.

This needs to be broadened a little bit. You need to tell them that even with self custodian one’s keys the coin can be lost. This is could be when you do not store your keys properly. Scammers could get through your keys if you store them on your device and it becomes comprised either through phishing or other malware attacks. As for those offline devices it could be lost if not safe in a place where people cannot access it and you also could remember. It could also be lost if the keys are written on materials that are easily prone to damages. You should advise them on having a proper backup for it in case of emergency.


The right word to use is buying low because bitcoin isn’t that cheap again and it’s almost near impossible now tht it could fall down cheap. Although it’s also advice to buy low it is very important not to wait till for that perfect time. You should just buy anytime there’s fund to invest by using the DCA method as this will reduce the risk of losing

With a non custodial wallet there is no access without the private keys to the wallet. No wallet is fully safe or secure, you need to adopt safety habits which would protect your funds.

Bitcoin transactions are pseudo anonymous, meaning there is a known address, transaction amount and receptient(s), but no identity linked to the wallet.

You can only assure that the Bitcoin code is verified and it truly is decentralized. There are no guarantees with the price.

As for me I only tell those friends that have knowledge on how to protect themselves from hackers and scammers because I don't want to spoon-feed them the information they need to have some foundations about it so that they will easily digest every info I'm sharing for them and as usual they can easily understand when I teach them about the crypto market the volatility and other stuff. You need to tell them the risk as well not just some good things about the investment because at the end of the day, you need to free yourself from their blame when their investment gets wrong.

Now I think I am getting tired of seeing so many post about sharing Bitcoin knowledge e.t.c to my friends and family really I am beginning to even get fed up with it. Yes good a thing you shared it with your friend so what you want an award from us for actually introducing your friends to Bitcoin, all the gains is their the fulfilment that you have gotten by actually doing the right thing for your friend should be a big reward for you.

I believe we would be seeing more post like this because it's becoming the trend. It's not becoming genuine.

I think post like this should be about I introduced my friends to crypto-currency and
#they are experiencing this difficulty ........
# I was asked a technical question by them and I could not answer it.

And many other feed backs you get from them that you can personally tackle then it would be more presentable and organic.

It's nice that you've shared how good Bitcoin is but please, with this quote of saying to them that they'll get huge profits and it's like a guarantee to you. Please don't do this.
This is where people are getting rekt because of the thinking that they'll be making a lot of money in Bitcoin without experiencing something isn't nice. When you get to introduce it to them and these people that hear you out will think that it's okay to invest without worrying about the fluctuation.

While this is true in the long run, you'll never know how patient they are.

You are only talking about profits and how your friends can make money if they buy BTC at the right time, you have not made mention of what BTC is, and that is a censorship resistant and permissionless currency, this is how your should introduce BTC to people, not as something they can make money from.
BTC is pseudonymous, and if you don't want to submit your personal details to trade it, then you have to use a decentralized exchange. By the way, BTC has a fixed supply, but all BTC's haven't been mined, so new BTC's are still "mined" with every block added to the blockchain.

It's great that you have an interest in educating others about Bitcoin. However, it's crucial to approach it in a responsible manner. Instead of trying to persuade them to invest, focus on providing a comprehensive understanding of various aspects related to Bitcoin. Cover topics such as wallets, price fluctuations, volatility, risks, and potential profits. By doing so, you empower them to make informed decisions about what they should do.

In your explanations, draw from your own experiences to provide valuable lessons. Share your past encounters with Bitcoin, highlighting both successes and challenges. This will enable them to learn from your experiences and gain a broader perspective on how Bitcoin operates.

It's essential to emphasize that investing in Bitcoin carries risks, including potential downtrends in the market. By educating them about the intricacies of Bitcoin, you equip them with the knowledge necessary to navigate the market themselves. This proactive approach ensures that they won't solely rely on you and avoids potential blame if they encounter losses later on.

Remember, the goal is to provide them with a balanced understanding of Bitcoin, enabling them to make well-informed decisions based on their own assessments.

Brief them about how it is advantageous against the fiat we use around, because people find it easy to understand when explained with the real time usability. Because very few are good with technical understanding, also it is good to show them the chart and brief them about the way price have grown over time. When we assure of high returns, at times it'll disappoint.

We should not try to educate people about bitcoin in little conversation. Give some basics and let them explore. It'll give better understanding than we ourselves briefing. Anyhow it is really nice initiative to educate people about bitcoin.

I tried to describe the positives and also I have told them about investing in Bitcoin. Told them about how easily they can use it, what are the advantages, also told some limitations like internet needed. Beside them I also told them that day by day there is a huge chance that the price will pump more as Bitcoin is limited and users are adopting massively so if they buy now they may have an additional profits also. I think it's not a poor lesson.

This is where people mess up. If you're going to teach friends and family about Bitcoin, describe the positives, then make them decide for themselves if they think they can profit off it or not. And you're probably describing it in an oversimplified manner as if you can know for sure if a certain price point is "cheap" or not.

It's really very necessary to know by our relatives about Bitcoin because I believe that we all know about Bitcoin and it's usecases. So it's our duty to teach about Cryptocurrencies specially Bitcoin so that they can also use it and be a part of this Digital Currency. In this purpose Today I have shared with some of my close departmental Friend's about Bitcoin and the benefits of it. I have tried as much as I can because I think they should be familiar with this gem and the future of currency system. I have shared some points about Bitcoin. They are :

1. Bitcoin Is Decentralized: I have shared with them that is is a decentralized cryptocurrency which is transferred from Peer to Peer. There is no middle man in Bitcoin transection and it's fully Safe. If you use non custodial wallet then your funds have no access without you.

2. Anonymous Transection: Every Bitcoin transection are normally fast and anonymous. It's very secured also. No need to submit personal or sensitive details at all. It has a limited supply which is 21 Million only. So day by day it's price and demand will increase because no new Bitcoin can be created.

3. Can Gain Huge Returs : I have also shared that you can make huge profits by buying and holding it. But you have to buy when it's price is cheap and it's very easy to use. You just need to have an internet connection only which may be a limitations too. I also told about it's volatility but assured them if you buy at cheap at the end of the day you will win surely.

I tried to teach them the trust about Bitcoin and they are really excited to learn more and some of them promised me that soon they will be a part of this Digital Currency though the amount is low.
I just welcomed them and I am also trying to teach about Bitcoin with my family soon.
I think we should teach our friends families and neighbors about the Cryptocurrencies specially Bitcoin. So that they can use it and be an early adopter.

Edit: I told them that the total Bitcoin is only 21 Million and no Bitcoin can be created so the total Bitcoin is limited. So day by day people are involving and filling their bags and also because of its usecases day by day the demand of Btc will increase. And also told that will be more beneficial financially if they can inter in the market at right time. They also agreed with me.