what is your reason for gifting bitcoin - page 3.

GreatArkansas

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Quote from: Y3shot on February 23, 2023, 07:24:48 AM

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Or bitcoin should only be given to those who can truly invest and yield profits. Can you gift bitcoin to random people who may not make profit from it.

Using Bitcoin as a gift for me is more likely we are introducing Bitcoin to other people like advertising because let's say if you give a gift to a person who doesn't know Bitcoin, he/she will become curious and that's the time they will research what is Bitcoin, how it works, etc. Or even they will start to keep asking questions about Bitcoin to you which for me is a good act of promoting Bitcoin to other people.

dansus021

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There is always be two theories in your case
The first one
The person to you have gifted the bitcoin will sell right away to get hard cash and forget about it.
The second one
Will try to understand what the bitcoin is although he might test it out to sell some of it. and reinvest.

I mean if I were you I will give to someone who doesn't have a job and have been looking for opportunity to invest in bitcoin and tell them the basic I do believe he/she will reinvest and make the 300$ worth

Zorigi

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if we provide assistance in the form of bitcoins to someone who is unemployed, it is very likely that these bitcoins will be sold because he definitely needs costs to live on a daily basis, because what he needs most is a job that guarantees he can earn an income. meet their daily needs.

dunfida

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Quote from: Y3shot on February 23, 2023, 07:24:48 AM

If $300 worth of bitcoin is given to someone who doesn't have a job and have been looking for opportunity to invest in bitcoin. Will it be possible for the person to focus on this investment without selling at the moment because of the present financial situation. I'm asking this question because of people who wish to gift bitcoin to people who are going through difficult financial challenge, is there any need to give bitcoin as gift to people who need money to settle urgent financial problems.

Or bitcoin should only be given to those who can truly invest and yield profits. Can you gift bitcoin to random people who may not make profit from it.

When you do tend to gift someone then its up to them whether they would be using or cashing it out or would be tending to hold no matter what.You should not make yourself that tending to involved on whatever they would go into your gift but if your purpose was to make someone learn about bitcoin or crypto opportunity then it would be good that you would really be at least having the time on explaining it to them on what they had recieved and if they do still decide to sell then there's nothing we can do.

Whom you would decide to give some bitcoin gifts btw? Random people or some friends?

Issa56

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Quote from: Y3shot on February 23, 2023, 07:24:48 AM

If $300 worth of bitcoin is given to someone who doesn't have a job and have been looking for opportunity to invest in bitcoin. Will it be possible for the person to focus on this investment without selling at the moment because of the present financial situation. I'm asking this question because of people who wish to gift bitcoin to people who are going through difficult financial challenge, is there any need to give bitcoin as gift to people who need money to settle urgent financial problems.

Or bitcoin should only be given to those who can truly invest and yield profits. Can you gift bitcoin to random people who may not make profit from it.

I believe it will be difficult for someone who is truly in need of money to hold bitcoin, why would you need money and you are having bitcoin in your wallet, and not sell it? I believe if the person truly needs money, he or she will sell it and use the money.

Assume the person you gave the bitcoin to is suffering from some health issues and does not have the financial means to visit a hospital. If you give the person bitcoin, he or she will certainly sell it to take care of himself.
Nonetheless, some people will hunt for alternatives and will never sell bitcoin, but I believe it depend on everyone's thinking and the situation in which they find themselves.

kamvreto

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Quote from: uneng on February 23, 2023, 06:22:00 PM

Quote from: Y3shot on February 23, 2023, 07:24:48 AM

If $300 worth of bitcoin is given to someone who doesn't have a job and have been looking for opportunity to invest in bitcoin. Will it be possible for the person to focus on this investment without selling at the moment because of the present financial situation. I'm asking this question because of people who wish to gift bitcoin to people who are going through difficult financial challenge, is there any need to give bitcoin as gift to people who need money to settle urgent financial problems.

Or bitcoin should only be given to those who can truly invest and yield profits. Can you gift bitcoin to random people who may not make profit from it.

El Salvador did something like that to introduce their citizens to bitcoin when they launched a 30$ worth of BTC giveaway and as result, most people simply cashed out the funds from bitcoin into fiat to use it as they wished. So it's safe to assume most people are just going to cashout the gift you send them to spend it in fiat, although the smart ones who want to take full advantage of bitcoin's potential will hold it thinking on long term returns.

To give free large chunks of money isn't a good way to incentivize bitcoin adoption due to El Salvador's example, which shows us the currently common sense mindset of the people in the world regards investments and bitcoin.

the average would probably do the same thing, cashing in bitcoins to fiat, whereas the main purpose of being given bitcoins is for them to understand what bitcoins are and how to use them. Education is needed before giving bitcoin to people who have never used bitcoin or are new to bitcoin. Tell about greater returns in the long term. Giving a gift that is too big will indeed be risky, but it depends on who the recipient is. To encourage bitcoin adoption to become more widespread, there is no need to give away too many bitcoins, the most important thing is how education about bitcoin can be conveyed and can make brands inspired and finally use bitcoin.

romero121

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Once the gift have reached the receiver's hands it belongs to him. Further it is his choice whether to use it for some need or hold it. We should not take it to mind. If you find a friend is in difficulty you may help him with bitcoin or some financial settlement. Here you can give suggestion to make use of the money in the right way and don't spend it unnecessary. The money you've given is yours and you're giving it to help him and overcome the situation. When he turns strong he's gonna repay it and a gift isn't the same.

Stalker22

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Bitcoin may not be the best option when it comes to helping someone out of a tough situation. While it ultimately depends on the individual, in many cases, they may choose to sell it, especially if they are not interested in Bitcoin. And, in some cases, they might not know how to go about it.

There are other ways to support a friend, family member, or loved one who is struggling. It may not be as flashy as sending them a lump sum of dollars, but it can make more of a difference in their lives. But, if you are looking to help someone out and give them some money, there are plenty of other options that may be better suited for their needs. For example, if the person is having trouble paying their bills and needs help with utilities or rent, cash is always a great option.

Baofeng

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Quote from: Y3shot on February 23, 2023, 07:24:48 AM

If $300 worth of bitcoin is given to someone who doesn't have a job and have been looking for opportunity to invest in bitcoin. Will it be possible for the person to focus on this investment without selling at the moment because of the present financial situation. I'm asking this question because of people who wish to gift bitcoin to people who are going through difficult financial challenge, is there any need to give bitcoin as gift to people who need money to settle urgent financial problems.

Well if the person that you are going to gift bitcoin hasn't had a job, then what are the chances that he won't sell it after you give it to him?

So I will be on the fence here, although your intention is good, but he might be tempted in the future to sell it to bring food in the table for him and for his family, just saying.

Quote from: Y3shot on February 23, 2023, 07:24:48 AM

Or bitcoin should only be given to those who can truly invest and yield profits. Can you gift bitcoin to random people who may not make profit from it.

Again, it really depends on the individual, if the person knows a thing or two about investment then maybe he will treat bitcoin as such. But if the one that you gifted see bitcoin as money, then he might not hold for a long time.

Mr.right85

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Quote from: Y3shot on February 23, 2023, 07:24:48 AM

If $300 worth of bitcoin is given to someone who doesn't have a job and have been looking for opportunity to invest in bitcoin. Will it be possible for the person to focus on this investment without selling at the moment because of the present financial situation. I'm asking this question because of people who wish to gift bitcoin to people who are going through difficult financial challenge, is there any need to give bitcoin as gift to people who need money to settle urgent financial problems.

How do you settle financial problems by holding bitcoin?
Like, from what you've stated in OP, the issues is an immediate challenge that needs to be settled urgently. How then would you do that by holding your bitcoin? It just doesn't work.

The best you might have archived by gifting someone bitcoin to solve immediate financial challenge is, you've offered money to solve a problem and you did that in the easiest or quick way possible to you and possibly the receiver.

When it comes to reasons as to why people might gift bitcoin, it will always vary from persons to persons and aside from the fact that, the currency here is bitcoin, it is the same as every other gift. The difference remains in its nature.

uneng

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Quote from: Y3shot on February 23, 2023, 07:24:48 AM

If $300 worth of bitcoin is given to someone who doesn't have a job and have been looking for opportunity to invest in bitcoin. Will it be possible for the person to focus on this investment without selling at the moment because of the present financial situation. I'm asking this question because of people who wish to gift bitcoin to people who are going through difficult financial challenge, is there any need to give bitcoin as gift to people who need money to settle urgent financial problems.

Or bitcoin should only be given to those who can truly invest and yield profits. Can you gift bitcoin to random people who may not make profit from it.

El Salvador did something like that to introduce their citizens to bitcoin when they launched a 30$ worth of BTC giveaway and as result, most people simply cashed out the funds from bitcoin into fiat to use it as they wished. So it's safe to assume most people are just going to cashout the gift you send them to spend it in fiat, although the smart ones who want to take full advantage of bitcoin's potential will hold it thinking on long term returns.

To give free large chunks of money isn't a good way to incentivize bitcoin adoption due to El Salvador's example, which shows us the currently common sense mindset of the people in the world regards investments and bitcoin.

odolvlobo

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Quote from: Y3shot on February 23, 2023, 07:24:48 AM

Or bitcoin should only be given to those who can truly invest and yield profits. Can you gift bitcoin to random people who may not make profit from it.

It's not much of a gift if you put limitations on what they can do with it.

Think of it this way -- you can give them $300 and they can buy some satoshis, or you can give them satoshis and they can sell them for $300. It is the same either way, right?

avikz

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Quote from: Y3shot on February 23, 2023, 07:24:48 AM

If $300 worth of bitcoin is given to someone who doesn't have a job and have been looking for opportunity to invest in bitcoin. Will it be possible for the person to focus on this investment without selling at the moment because of the present financial situation. I'm asking this question because of people who wish to gift bitcoin to people who are going through difficult financial challenge, is there any need to give bitcoin as gift to people who need money to settle urgent financial problems.

Or bitcoin should only be given to those who can truly invest and yield profits. Can you gift bitcoin to random people who may not make profit from it.

If someone is going through a financial problem with an immediate need of fund, I wouldn't gift bitcoin to him because that won't solve the urgent need. Rather I will try to gift him money which he can immediately use to support the situation.

Bitcoin gifting can be done when someone has time to hold onto it and not in need of an emergency fund. This way the person can do his own research before taking a decision of either selling or holding it.

Zaguru12

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Your question comes into two because you first of all said someone looking to invest to in bitcoin but is jobless. If need comes for help to start investing in bitcoin then the amount is not bad to start up. The person should decide whether to invest it or do otherwise but since he wants to venture into invest and as been jobless then he might have his ways or other side hustle to help him.

As for those sending bitcoin as aid to help people in financial difficulties, I don’t see anything bad because bitcoin is just like our currency and could be converted outrightly by the needy to local fiat (that’s if the person has bitcoin knowledge). Most people send bitcoin because of the stress involved in cross boarder transactions like converting between two country currencies. With bitcoin it is quite easy to ease someone’s financial burden in other country without undergoing such process

salad daging

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I think he will definitely sell it which is probably going to keep the $ 300 while he is in financial trouble so whatever money he gets will definitely be converted into fiat and become a need for him while urgent, while people who invest in bitcoin are people who are ready with emergency funds it is likely that he will definitely sell if you give $300 bitcoin to him especially since he doesn't have a job as an income that is his need.

But it's up to you after giving it whether you want to invest it to make long-term money or become an urgent need of the recipient.
This is not deposit money, if the reason is to give then the recipient is free to do what he wants.

Justtoons

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Gifting out Bitcoin to people in need is a good example of hospitality. It will help the alot.

Now after you have given out those bitcoins to such persons, it is now up to them what they decide to use it for. Yes you no longer have any business with the token given out. Now, unless the receiver has interest in Bitcoin trading or investment the only thing you can do for them, is to coach them.

On the other hand, I don't really think it is necessary to give Bitcoins to people in need of money to settle financial stress as this will mean no value to them. You can just give them cash to help settle their financial stress or show them how to convert the Bitcoin to cash.

lovesmayfamilis

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Of course, those who do not have money to live for a day or a week do not need bitcoin. And giving him a similar amount in bitcoin is equivalent to giving him an ordinary fiat. I think in this situation, you can just give money. But if a person is interested in bitcoin and has even taken the first steps towards learning about it, such a gift will be a good motivation for learning, of course, with further guidance on proper handling and storage.

jossiel

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Quote from: Y3shot on February 23, 2023, 07:24:48 AM

If $300 worth of bitcoin is given to someone who doesn't have a job and have been looking for opportunity to invest in bitcoin. Will it be possible for the person to focus on this investment without selling at the moment because of the present financial situation. I'm asking this question because of people who wish to gift bitcoin to people who are going through difficult financial challenge, is there any need to give bitcoin as gift to people who need money to settle urgent financial problems.

Or bitcoin should only be given to those who can truly invest and yield profits. Can you gift bitcoin to random people who may not make profit from it.

If the receiver of that gift is in financial troubles, it's not going to take a long time that that person will have to sell it. Trust me, when someone is in need of money and he doesn't have anything left.

Anything in their possession will be sold just to sustain their needs.

Even if you want them to learn about bitcoin if they're called by their needs, nothing can stop them from selling it as soon as possible when it urges them to be sold.

Pandu Geddon

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for those who need money urgently for the necessities of life, giving them Bitcoins only for them to use for a short time. because financially they are not yet at the level to save assets. it will be different if Bitcoin is in someone who already can meet their needs.
do not force people to withhold Bitcoins that you may give to those who are desperate to make ends meet. even if all they have is an old bicycle if that is all they have and have to sell it for money. then they will.

buwaytress

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Yeah, small gifts, almost faucet like also don't really help. They can't sell it, can't buy it, unless it's a micro transaction like a small tip or "rain" on a gambling site. You also might worsen the dust problem (or is it a problem?).

Gifts have to have a really good educational reason, I feel. Or following genuine interest.

Quote from: Welsh on February 23, 2023, 08:48:33 AM

Plus, gifting someone some Bitcoin without actually teaching them about it, could be potentially dangerous due to the fact that they could lose it through not managing it correctly. Personally, I'd stick to more conventional ways of helping friends out rather than using Bitcoin as a means to do it.

Yeah, I tried something different the last gift I made. Sort of made it a puzzle of seed phrase, which if they solved, they could restore the wallet containing the btc. Definitely not to help someone out, more like to help along actual interest.

Topic: what is your reason for gifting bitcoin - page 3. (Read 433 times)