Topic: What went wrong with bitcoin! Reply (Read 495 times)

Idk man, maybe don't paint bitcoin as the jesus christ of investments? The problem is that newbies and people who just got in the business portray bitciin as some sort of end-all-be-all investment hack that could get people rich in a jiffy. That's just wrong and a surefire way to have someone hate you for life. Don't invest in bitcoin if you haven't done your own research, unless you wanna lose all your money after not timing the buy right. More so, do not tell people to invest in hitcoin if you don't even know how half of the whole process works. These people have their lives and financial stabilities at stake and could very well lose it just like OP's example.

TL;DR: Don't tell people to invest in bitcoin if you don't know how it works and only sees it as a way to get rich quick.

It is very rare that anyone that approaches you and asks about bitcoin is doing so because they are curious about the technology or its characteristics, they do it because they have heard that you can earn money with it and they want a piece of it, then it would be better to open their eyes and tell them the truth about this market, and how people like them lose all their money as they end up investing in all kind of useless coins instead of obtaining the results they want.

We can't control them because it was their money and as a newbie it's normal that their urge is high. They can hastily invest disregarding the important points that they must know. As a result, they are now wondering on why Bitcoin falls down and seem to not recover anymore. They are now worried and worse is they will start selling at a loss.

There is nothing we can do about it. A shortage in supply and an increase in demand will actually lead for the price to rise. This is what will happen soon with Bitcoin after several halvings. There are also people who lost access to their Bitcoins which can make Bitcoin scarcer. For now, the price falls for some reason and not because the demand have totally dropped.

I will have to blame the person that introduced the business man to bitcoin investment, he didn’t make the business understand what bitcoin was all about and how it’s operates, also why will he want to divert his business money to buy bitcoin and you Will agree when you know that’s his only source of income, what the person that introduced the business man to crypto should have done is just asking the business man to be removing some little amount from his profits and be investing in bitcoin and not asking the businessman to switch completely.

You know how bitcoin operates and you know what bitcoin is all about, you shouldn’t have taken the risk of advising someone to divert his business money into bitcoin, Always invest any amount you can afford to lose in bitcoin.

It’s better you clearly let them understand what bitcoin is all about, if the are interested then they should go ahead, you can guide them on how to make investments but you should make it clear to the person that anything can happen to their investment and you won’t be responsible for it. Whenever you are teaching people how to invest, don’t focus on only profits, let them also understand that they can lose their money.

Let them know how volatile bitcoin and crypto market is, let them know that the price movement is not in your hand, anything can happen to the price at any time, so that they won’t end up frustrating you to pump the bitcoin price as you don’t have the power to do that.

After explaining the risks associated with bitcoin investment and other necessary things the person should know, then you should ask if the person is interested or not, you don’t have to force the person to invest, let the person be willing to invest and not you forcing the person.

The worst thing you will do is collecting money from someone to invest in bitcoin, if you can try that, then you are spoiling your reputation from the person, you are likely to be tag as scammer, because what the person might be expecting in return might not be up to what you will give him, he might be thinking maybe you decided to slash the money into two then you give him half alone. But if the person invest the money in his wallet, he will definitely be seeing the price movement himself.

These are all great points. I like your hustle on the palm oil and the yams btw. I think that is just so awesome, you work hard for your money. I like to call that singing for your supper. Anyways I absolutely agree with points 1-7 and I would like to add that you should only give advice when it is asked of you, or if you generally can't refrain from telling someone something because you whole heartedly feel that it will help them make an advancement in some way and you're trying to help them then I feel you shouldn't hold your tongue. Bitcoin is going to go up and it will go back down. Right now all you need to do is HOLD. 

This is why when someone asking on me about Bitcoin, I just give them a brief explanation of how Bitcoin works because a lot of people always misunderstood what meaning of Bitcoin or how it works.
This is a normal encounter when you do it with new people. Because most of these people see on internet especially social media are good sides, like easy money, profits on investing/trading, etc.

Their mentality should be like that wherein, losses are always around the market and it is unavoidable, many people cannot meet their expectations becaue they have been told that it is easy to make money from investing but the truth is it is very hard. In order to make money this idea which is "buy low and sell high" is very easy to understand but it is hard to execute because there are a lot of factors should be consider and you cannot know when is it low or is it high. My friends also asking me if I'm earning profits by investing and trading, of course my answer is yes but I also said them that losses are inevtiable and I also experiencing it. I'm already tradining them to be aware that they can also incur losses and in order to minimize that, they should focus on improving not only their skills and knowledge but also their mental foritude and psychology. In that way, they can be prepared once they start investing their money.

That's right, nothing should be hidden from them, we should tell them all the pros and cons of investing in bitcoin. For me, I will talk more about loss than profit, even I will scare them, and I don't want them to invest in bitcoin, but if they still want to invest in it, I think they are ready. We should emphasize losses over gains and let them understand the level of risk, and they won't blame us if the investment doesn't turn out as expected.
I also have some friends who want to invest, but I don't want to give them advice, I will just provide them with the knowledge and let them decide everything, I don't want to be responsible for them.

Yes, you are correct; this is the law of supply and demand. However, there are times when supply and demand are equal, with no excess or shortage. If demand and supply are equal, you might agree that the market does not always have the same volume. What I mean by a lack of demand and supply is that the volume is extremely low but equal. That's what I found in the market using a volume indicator: if the market consolidates, there will be a lot of volume, but it will also be low volume since no one wants to sell and no one wants to purchase.

Aside from that, what we usually see in the market after a consolidation phase is either impulsive up move or down move. But I don't agree that the term to be used is "strengthening" because the market has no strength in consolidation, maybe it's better to say that the market is in an "indecision" state.

Sometimes our desires to help pushes us to do the wrong things. It might have come with some good intentions and though I might not know the manner through which, this merchant was convinced to invest in bitcoin, it seems he had to dump his source of likelihood, his line of business to invest in crypto.

That's in itself wrong. Though bitcoin has been known to offer some securities, the likelihood that they would come soonest is always  food go thought and the uncertainties in the system means, you don't have to put it as your all. You still need to have something going aside from cryptos that could as well pull in some good funds.

One thing I think is a take amd should have been very well exposed to the investor is that;.
You invest with only your sparr cash. That way, the user would know he doesn't have to dump his yam and oil business to pick a crypto investment. Food item business line is still an ideal type of business.

Many stories have been said here and I've got also my personal experience that I'm done with these people even they're my closest friends. If you've encouraged someone before and then it didn't go well and with how they react, you're not enthusiastic anymore in telling things related to bitcoin and its volatile to them as an asset.

We don't have the control on the price and yet if they are seeing the value of their portfolio is dropping quickly, they want you to be responsible for it because you're the one that has encouraged them to invest.

Just avoid these people and don't encourage anyone anymore into venturing in bitcoin without them having their DYOR.

We don't have the right to stop people from investing in Bitcoin.  So we don't have the authority to stop or allow others in investing Bitcoin.  We might have the influence to affect others into investing or not investing into Bitcoin but as I said we don't have authority over other people unless it is ourselves who is thinking investing to Bitcoin.


If there is more demand, it is obvious that there is a shortage in supply thus making the price of Bitcoin surge and vice versa if there is too much supply getting into the market.  There is no such thing as a lack of supply and demand at the same time in a consolidation phase of the market.  It is more appropriate to say a balanced stream of supply in demand that creates a sideway trend that tends to look like a consolidation period.  The consolidation period is the period where the market is strengthening so it is inappropriate to use lack of supply and demand while speaking of such state.

That man did not explained bitcoin investment well for the other man very well. He tell the man only the advantage, and didn't told him the disadvantage of the bitcoin investment, this bitcoin of a thing, is not just a something that you go and tell person to buy bitcoin and invest. No, tell the person the realities of bitcoin investment, let the person choose his/her choice to invest. To avoid problems like this, let us sincerely, infact when we are introducing bitcoin investment to people, tell them the risk involved, no quick profits explain bitcoin very fountainhead to people's, let them made there choice to invest.

It's quite appreciable if you just believe in yourself, and don't easily believe in others.
But you also need to learn from other people's experiences or from some other people's mistakes.
Checking all the platforms is not easy to determine if it is a good investment.

If you don't want to do detailed research, just invest in Bitcoin as the main recommendation or if you want to put your money into Altcoin you can choose ETH.
It's quite simple without the need for a long series of research, just need to buy at a fairly low price and hold it for the long term.

I get used to that I have to do it all by my own. And I examined all platforms well before started investing on Ownr wallet and didn't trust other people

Before we allow people to invest in Bitcoin, they must understand that we do not control the market and that there is a risk. Even if the price of Bitcoin falls dramatically, it will gradually rise above your purchase price. But we have no idea when it will happen. Some will take a few months, while others will take a year, so patience is essential here.

Aside from that, I just don't believe that it was due to a shortage of supply in Bitcoin since when there is a lack of supply and demand in Bitcoin, the market tends to consolidate, so the price doesn't fall but also doesn't rise. The price of Bitcoin will only fall if the supply exceeds the demand.

The wrong story of both the transmitter and the receiver, new knowledge and the transmitter himself does not even grasp it to recommend to anyone, that is really a risk. I have also seen a lot of difficult situations, when I saw some new friends enter the market and get quick profits, then they had a belief clouded by greed when taking out a loan. from many people to invest further and believe will bring them more profits. And when the market falls, they can't control their finances, leading to debt and can't imagine how wrong they are, so sad for them and can only advise people in any field to do the same. should learn before going to sustainable profits and share that success with the surrounding community.

That's why I don't want to introduce bitcoin to anyone, especially people I just met because the risk will come after that if the market goes down. If that person loses, he will hold me accountable. I also don't want to collect money from people because it is riskier to get angry with people if they want to withdraw their money while the current position is losing money.

And if anyone wants to invest in bitcoin, I will make sure that they know the risks behind investing in it. I would also tell him always to learn to analyze the market so he knows when to hold back or sell his bitcoins or whatever he wants to do. Investing in bitcoin is everyone's responsibility; we don't have to dictate to that person what to do.

There is no obligation to advise people when they are trying to make an investment, every decision is a risk for the person who has chosen. People will be responsible for the decisions they choose and even if they ask your opinion then direct them to study the level of risk of price fluctuations and most importantly do not advise them to choose other assets than bitcoin.

Becoming part of crypto and bitcoin must go through basic considerations, there is certainty when people decide to invest and this certainty is not related to profit, but methods, strategies and understanding of the basics of investment, so that if something happens in an investment they don't blame other people.

There might be wrong with his explanation to that person but this person also must also to look for other sources of information to gather more ideas, not just be reliant on him. Because if he does, he would not ask why it happen to his investment but unfortunately, the blame brings back to the person who introduces it to him.
Perhaps, it was a lesson to learn, and we should not encourage someone to invest in Bitcoin if they don't understand how it works. Let them decide, not us. And yes, we don't just mention earning huge profits but also have to mention possible losses.

For me this is essential, knowing what Bitcoin can offer me and secondary to that
is the investment aspect.

I would snobbishly only consider a person a true Bitcoiner when they have an interest
in Bitcoin other than its ROI or they have a long term outlook. I dont consider anyone
with a "get rich quick" or only interested in Bitcoins market value to be Bitcoiners.

The OP has only focussed on "The price" and "The market" and "Investment", Bitcoin has
a lot more to offer, its just a pity that it seems they are overlooked even when explaining
Bitcoin.

Are these things you mentioned that you applied or did you also tell your friend? Because as I have in mind, we may know better than most people the beauty of Bitcoin.

Sometimes when we are too overwhelmed we can't stop ourselves from sharing it with our acquaintances especially if it is close to us. It's just that sometimes in being overwhelmed we don't notice that we also forget to mention the disadvantage of Bitcoin once they invest in it, and that's where we often have problems in the end.

In my opinion, the first thing that must be explained to people who want to invest in BTC should be like that, that is, they must explain that investing in BTC has negatives and positives.

and I personally also have friends who want to invest in btc and finally I explain about btc and I also share my experience of getting profits investing in btc and also my loss experience investing in btc.

and finally he understood and not long after he invested and finally he didn't blame me even though the btc price fell.

the point is to tell the positives and negatives to people who are interested in investing in btc.

People like to shift blame for everything that goes wrong in their life. They do not want to take the responsibility for mistakes that they have made ...so that is the reason why you have to distance yourself from the decision making process from the start.

I always talk about Bitcoin and people tend to listen, but I never force "Bitcoin" down their throats, because I know from experience that they will blame "losses" on me, when they sell early.

So, next time.... tell the people that you only told them about the technology... and you never forced them to buy it. They make all the decisions to buy and to sell.... not you. 

If they fully understand Bitcoin and aware of the possible consequences of investing their money, they will not held you as responsible for any losses since Bitcoin is an speculative asset and can't he controlled. This is the problem of investor who just blindly invest without even researching on their own to educate themselves.

True. Don't let yourself use their money to invest/trade on their behalf. It's quite risky and we're not certain if we will going to have a good result. So if they're interested then teach them and don't let them rely on you.

Investing in Bitcoin takes a lot of guts and patience. If you can't wait then maybe this is not for you because you might sell at loss for not being able to wait for the perfect time to take profit. If you want to be a huge gainer, you need to be patient and don't ask questions on why the price is not increasing or when it will become bullish because we can't accurately predict what lies ahead.

Good explanation OP, I believe the person will learn so much from your advice because when the price of Bitcoin increase higher he or she will definitely make a huge amount of money that will make he or she to invest more in Bitcoin. The most important thing in Bitcoin investment, is to try your possible best to know how to involve in long term holding, because that is where many potential holders are making their incomes from because they are very comfortable with their holding that one day or some day the price will increase higher for them to earn well at the moment.

Is that person dumb? When you invest anywhere, be it stocks, cryptos, lands, anywhere, the risk of getting loss is equal to the chance of getting profits. At the time of investing, does he thought that, Bitcoins are sure money and he won’t make losses and will earning profits for whole life? These types of people don’t deserve any kind of investments. Moreover if anyone don’t know why or how the price of a coin affects, then let me tell you that, Bitcoins are limited in supply, so if the demand to acquire the coin increases, then the price increases and the reverse happens when demand is low.

1. If you introduce Bitcoin when your friend doesn't even know what's, you're responsible for anything because you're the one who invite your friend to invest in Bitcoin. It's different if your friend already know Bitcoin and he ask few questions to you since he's interested before you talk about Bitcoin.

2. No one is controlling Bitcoin price.

3. If you force someone to invest in Bitcoin, you're liable to any losses.

4. No one can verify.

5. 6. & 7. are money making purpose, don't invite anyone about Bitcoin if it's only focus about money making.

Good advice can always be useful for others, especially if the advice is about investing for the future. Well, in this case it is also important to remember for those who give advice that he must give it in as much detail as possible so that he is not blamed one day when there are obstacles or crashes or suffers a loss due to the negligence of the person receiving the advice.

Because guiding others to a better direction is a must even though it is not mandatory, especially if the person being guided is someone who is very close to him and who has a very strong emotional bond. Of course it wouldn't be wrong if we wanted to provide good guidance and advice for him, besides we would also advise him to continue studying and reading every thing he needs while asking people who are experienced in certain fields, so he doesn't just rely on the direction and guidance we provide.

Even if we give understanding to newcomers who want to know more about bitcoin, it makes it more difficult what I feel, I even taught someone, but after giving all the more basic bitcoin concepts, they still don't understand if they don't practice it right away, while I don't want to be responsible for what is bought even though they buy bitcoin much safer, but the market is still unpredictable and high volatility means prices can change from day to day.

It's better to give enough understanding and then have him learn on his own and do what he can, let him lose at least don't be big if you want to get a bigger experience in his practice but what is clear I have explained about big risks with big returns, but the concept this is not for get rich quick like many people say.

That person may only be telling you the positive aspects of crypto currency but you should know that everything has positive and negative aspects. You might have made an investment decision just by listening to him and considering the positive aspects of cryptocurrency which was a wrong decision for you. You may have rushed to invest without thinking twice after listening to that advisor. You should learn from the mistakes you make. I hope that you will consider it carefully and then take such a decision.

First you have to risk your money. Others can only give you some idea about it. Online platforms have financial risks. But the person through whom you came to know about this should have shared with you something completely about it.  But he only shared with you the positive aspects of the crypto platform. Hope you take all these risks with caution in the future.

In general, we have to make them understand clearly that investing in Bitcoin doesn't guarantee instant returns and that is the reason why we have to encourage them to be patient and hold. Because some influencers and those who pretend a Bitcoin gurus, they never speak about losses but rather give promising words - profit and make rich. A reason why someone who invested in Bitcoin will wonder why he got nothing after a few days of buying, instead the value is decreasing.

I guess this happened to so many people. And the main reason I think is that many bought Bitcoin prematurely. Many are too eager to buy Bitcoin, but they don't even have a complete understanding of Bitcoin's volatility and its overall market dynamics. I guess this is primarily because a wrong impression is created in them. Many jumped into the bandwagon with the assumption that Bitcoin is a get-rich-quick scheme. So if one is to orient somebody about Bitcoin, one shouldn't miss emphasizing that it isn't. 

It would also be good to explain to such newcomers that their money hasn’t really gone. That investor owns the same amount of coins, stored in the Bitcoin blockchain. It’s just that in terms of fiat, the value of his asset has dropped. But not to zero (BTC hasn’t depreciated at all)!

This is the reason why some people have various misconception about Bitcoin. They have learned wrongly or have quickly rush to invest out of greed. (Let me explain why I said greed.)

I was opportuned to be in the presence of some folks discussing Bitcoin, so I just paid deft ear to them, just to hear what they were talking about, but among them was one who was really knowledgeable about Bitcoin; he was gradually explaining to them what Bitcoin was, but one among them said, "Please just help so I can buy; save up the stories for another day; I am already convinced by the whole lot of profit you have made."

So, some people are not ready to learn anything, but they just want to throw their money into something they don't even have a complete idea about, and when it gets complicated, they look for someone to blame. As a business person, it's not wise to sell off your business and invest in Bitcoin. Only investing some percent of the profit you are making from your business is pretty cool. It's perhaps not necessary that you invest all your profit, but just some, even if it's on a weekly or monthly basis, so that it doesn't put pressure on you or your business. Had he still had his business running so well, he would have been patient until the bull market comes, but it was good that you gave him confidence.

The best way is never to give investment advice to anyone, if they want to invest, they should learn everything themselves. Because everything is available online if they are lazy to study and just want from other people's guidance. Those people should not invest because they will also lose money and will blame us one day.

@OP we don't need those lessons if we don't push our friends or relatives to invest in Bitcoin.  The best lesson to learn here is to never convince any one into investing to an asset he has no knowledge.  Yes we can share information, inform the possible opportunities in investing itno Bitcoin but never force them or convince them ti put their money into something they recently know.

As I read about the situation...


This explanation is not acceptable.  If you convince a person to invest in the market, you should know how to explain the movement of the market.  Telling them you do not know only heightens their rage and made them more uncomfortable.

Why not avoid the situation completely by not introducing people to this market? No one introduced me here and I am sure I am not the only one, I found bitcoin precisely because I needed something like bitcoin at the time and I immediately adopted it because of it, I know that people want to increase adoption but we must let each person to decide on their own when they want to invest in this market, because if they do badly with their investments the first person they are going to blame is the one that introduced bitcoin to them.

Introducing bitcoin to someone is good but for them entering the market at the wrong is very bad because the person may not have the basic idea or understanding just as you does, so it is good only telling them how the bitcoin functions and benefits one holding it because if those areas aren't clearly stated and they venture into it without a thorough understanding might leads or result to much hatred whenever they had someone mentioning about bitcoin and anything that relates to digital currencies.

The main truth is don't force anybody to buy Bitcoin, introduce it to them as you said and tell them is not a must to buy through you, they can also do their research about it after being satisfied they can go for it finish knowing the pros and cons.

Lack of understanding about bitcoin in general makes it tough for newcomers to grasp the concept. Even if you've explained to them everything they need to know about bitcoin, give them time to do their own study and don't pressure them to join; rather, they should do so when they're ready after learning more about it.

With this, you will not be held liable for any failures or mistakes they make while holding the bitcoin. This is not a get rich quick scheme; patience is essential here in order to reap the rewards in the future.

OP, from what am seeing here the person that introduced the yam seller to bitcoin is someone who have little or no ideas about bitcoin but perhaps he must have referred him to those local bitcoin brokers with referring benefits, he knows when he fix his money there, he will benefit from it at every single transactions the yam seller does, weather deposits, withdrawal or transfer to another wallets. So him himself has no good background of bitcoin, he's probably one who just throw money into bitcoin investment and see some profits before urging someone to join him without a clue. Well, in the aspect of taken responsibility for inviting someone into cryptos is good to stand as a guide to them until the person too understood or learned what he or she is doing, even if you're not liable to their losses or gains but encourage to sell when is time just as you encouraged them to buy, teach them some simple steps of transactions in case the market went wrong and you're not close, what them will need to do and before telling someone about bitcoin make you yourself knows what cryptos is all about, how it works to be at safer side. Is a nice top of discussion.

Before introducing Bitcoin to someone, it's important to explain its uses, such as its ability to facilitate borderless transactions without the need for a third party. You should also explain how Bitcoin works and its volatility, including possible losses and how the price fluctuates. When discussing the topic of "pump and dump," it's important to explain the reasons behind it.

It's also important to emphasize that Bitcoin always exists as a set quantity. For example, if you buy 1 Bitcoin, it will always exist as 1 Bitcoin, but its value will fluctuate. It's crucial to make them understand that no one controls the price of Bitcoin - it's all about supply and demand.

By explaining these concepts to them, they will be less likely to regret their decision later or ask questions about a bear market.

Did you expect this to be some kind of scheme? A mystery machine where you put some money and it vomits more money? If that person thinks they lost money by holding bitcoin, that their savings is gone, they should think about what they were doing. They were buying bitcoin to get more fiat money and they were looking at bitcoin in terms of fiat money. This is a wrong approach and nobody is there to blame but that person.
When you buy an ice cream and use it to wipe your butt, who's there to blame? The seller, someone who told you to buy ice cream, the ice cream itself, or you?

There is absolutely nothing wrong with Bitcoin. What is actually wrong is some people’s mindset of seeing bitcoin has something that is going to make them filthy rich overnight. I have seen countless people who do absolutely no research and blindly invests into crypto just because it was trending everywhere and all their friends were talking about it which led them to loss alot of money.
Though whenever I talk to someone about crypto who doesn’t know anything about it but are really curious, I make sure to let them know its super risky and there is no guarantee your money is gonna be safe so always so your research before you invest anything into crypto because end of the day if all you want to gamble then you might as well take all that money to casino instead since you have better chances of doubling it instantly.

Nothing went wrong for Bitcoin, when used, as you explained, as a speculative asset. You want to risk wealth to gain wealth by speculating on price? Then you better be sure you want a volatile asset that historically spends the majority of its time in a bear. If Bitcoin weren't like that, it wouldn't be attractive for speculation.

Maybe you need to consider other uses. I use Bitcoin mainly as a means of payment, I get paid it in. Price doesn't really affect me in a nett way.

My serious advice is never to try to convince anyone to buy or get involved with bitcoins, because it is completely unstable and very risky and we cannot say what will happen.

and according to my experience, if someone comes to you for advice about bitcoin or they want to learn, then just respond and still have to accept it at their own risk and also not your responsibility in case of loss to them after you explain in detail about bitcoin.
and it is important to note that you should never try to convince people to buy bitcoin or any other investment without fully understanding their financial situation and risk tolerance. And it is also important to be transparent about the potential risks and uncertainties associated with investing in bitcoins, as they are highly volatile and are not backed by you, the government or any regulatory body and are entirely under the control and responsibility of the holder.

Unfortunately, at the moment, the limit of Bitcoin is volatility and this could become a major obstacle to making others understand it.  We must say that the purpose of Bitcoin is something else, namely financial freedom that currently the traditional system and centralized banks do not give.

Personally, i think it is all about the level to which we can take risks as businesspeople and our believe in the platforms and businesses we ventured into.

The fact that Bitcoin has experienced great price volatility over the past decades, does not make it a place of gambling persay, as Bitcoin's Genesis Block gained a steady long-term value in market cap between 2010 and 2021. Also the effect of volatility on the market has been in a decline, at least I can say quiet reasonably because of the significance in participation that the Bitcoin world have enjoyed over the years.

Advisably, I suggest that we make others understand the real and true concept behind the market and how investing in Bitcoin can be a great deal with time. Which is one lesson I've learnt myself.

Wanting an easy and instant answer, then giving the answer "If The Time Comes Market Will Rise" is quite simple.
Some new investors who start entering just want to get instant profits without any long process. If they understand, they will definitely understand that the market cannot really be predicted 100%. We can only know where the limit is reached, but if the market situation is controlled by Whales and a lot of manipulation, we will be completely unable to guess. Just go with the flow of the market.

There is no need to explain in detail to those who do not understand. They really have to learn directly from the market so that they will have the experience of how the market does not go according to our predictions. There is nothing wrong with Bitcoin or the crypto market.
We have to understand and understand how the market is, not fight it.

From your story, I could deduced that the person who introduced the newbie to bitcoin didn't do a proper job as he failed to give the newcomer the necessary information. He failed to enlighten him/her that bitcoin is not a get rich quick scheme, that the price fluctuates and it's not controlled by anyone. Also, it's like the person invested most of his/her saving in the Bitcoin investment which is something I always kick against. It a pity this might cause a strain in their relationship.

Telling them you are not responsible may not be a relief to them. I also did the same to someone with SHIB token but when the bears started to take over the market, she also started chatting me back again. That was when I felt like I am gonna be blamed. So before she won't profit from the tokens she got, I advised her to sell as well.

She was grateful that she chats me again about what to do. You can ignore the feeling but on my end, I feel vaguely responsible for introducing SHIB which I know will dive to its lowest once the day comes.

The problem is that this person started investing in Bitcoin without knowing how the market works. He is so naive on this matter that he even asked when the price is going to recover. If he had studied the basics about BTC before investing, he would know by now that no one can predict accurately when Bitcoin is going to reach its peak again. He wants easy and instant replies for complex questions which talk about events out of our control.

It's always risky to introduce this kind of person to Bitcoin, because they can create problems for you later, even though you have nothing to do with this.

You should let them know this,if not whatever that happen to their investment, they will think that it was a scam trap and will see you as an enemy. A good relationship can be broken.

Becoming part of the cryptospace should be a decision made by the person deep down from his mind that he is already to take full responsibility of whatever is the outcome of his investment. That is why you don't need to force or persuade anyone to join the cryptospace.

This is one of the foolish thing anyone will do. Bitcoin is a volatile asset and not a guarantee to get of getting rich quick from it. You should allow the person to learn how to invest or trade on their own for experience sake and to avoid them putting all the blame on you,incase the market turns out unfavourable.

Bitcoin's market value is not controlled by any individual but rather, the majority. Problem is, majority has different opinions with regards to market prices of cryptos not only Bitcoin. We have this group called 'whales' which are basically huge investors of this industry, wherein mentioned group could temporarily create a trend because of high market volume. With regards to prior information about this industry, things won't be as easy as it may sound.  Decline on market prices are simply a part of market price volatility because of factors affecting such variable. There are just people who has high hopes because of the impression created from this industry.

Incorrect and erroneous interpretation of essence bitcoin is the problem of the people themselves. Too lazy to study and delve into the details personally - be prepared to pay with your wallet.

Get-rich-quick schemes tend to empty your wallet quickly.

Advising people to invest in btc is costing more to yourselves. OP's story, described above, is a good example of this. If a person earns on your advice, then you probably won’t hear any words of gratitude. If a person loses on your advice, he will definitely blame you for this. What is the point of giving advice then?


1. You are just responsible if you have assumed the obligation to introducing bitcoin to anyone. Not ready? Then don't advise.
2. It's not enough to say, but you need to explain.
3. Precisely. The adviser doesn't incur any loss and that is why it is so easy to give advice to others. So don't blindly accept it.
4. And what is the right decision?
5. Nobody owes anything. Everything is purely voluntary.
6. In my opinion, from the moment you start investing, all decision-making obligations are assigned to the person himself.
7. Also a free solution.

The guy is in no position to force someone to invest in Bitcoin, I mean, look at him, he don't even know why Bitcoin price is not going up and he forcing someone else to invest in Bitcoin, him and the other yam seller need to go and learn more about Bitcoin and the crypto market behavior, they are both newbies that knows nothing about Bitcoin.  

When you want someone to benefit from Bitcoin investment, tell them they can lose money because it's not a stable asset, if you don't, people will think it's a  win/win for Bitcoin, and they will invest money they aren't ready to lose or money they aren't ready to invest for the long term, that's why the yam seller is complaining that they got nothing back, maybe he even think that Bitcoin investment is a yield investment where they get something back every week or month? He, whoever he is, is are a bad teacher mate.

You should have told him from the start that you're not the one controlling crypto, so that you don't mislead him into thinking wrongly, thinking that you're the one whos controlling the market haha:D . Also, Bitcoin isn't a get rich-quick scheme tho, it requires patience, a good attitude, and wise decision-making, such as buying and selling at the right time. It's important to avoid greed because you could end up losing a lot.

It's important for newbies to understand that the market is highly volatile, especially the price of Bitcoin, which can increase or decrease by thousands of dollars in just a few hours and that's already happened before, this is mostly due to supply and demand.

Long story short, it's important to explain all the basics to anyone interested in investing in Bitcoin.

I think it's well understood by the crypto-community. Every person who's watched literally just one video about cryptocurrencies, must have heard the repeatedly noised "this is not a financial advice".

Um, what? Sane people don't need to hear that to know that the price might fluctuate. Obviously a single individual cannot control the price, unless he's some multi-billionaire. Lol.

Incomplete information causes having such kind of experience, let them understand the risk abd allow them to take their own decision by themselves to either join or not.


Let the understand that bitcoin is a volatile cryptocurrency which means it cab rise and fall, but take your time in getting them understand this because they beed to learn how to hodl, trade or buy with time.


Don't stand in for them, which will refer me back to the first point i mentioned that you should not force or persuade them to invest.


Bitcoin itself is decentralized and they must learn about bitcoin before investing first, which means they must understand that it's not a quick means to making money like other online platforms.

Anyone trying to invite someone into investing in crypto should let the person know that Bitcoin is not a get rich quick scheme. If the story is true, the method by which the person who introduced him to crypto used it is very misleading, and if he wants his money back in full, by all means, he has every right to go after the person who invited him to crypto.

But to some point, the person in question really made a bad investment decision. There is a level to which you should invest in something you ordinarily just heard from someone, something you don't have an idea of on your own, and you spend until you shut down your existing business, all because of what? High promised return on investment?

Without a second lesson taught to me, you can't introduce me to something for which I will take funds from what's currently giving me earnings, something I have full control over, to go and invest in something else, up to the extent that I will no longer have anything else left to sell in my shop.

This kind of story will always end in two ways: if the shop owner who loses his shop because he invested all of his capital in Bitcoin doesn't have any other means, he will be left with no other option but to sell off and grab whatever's left of his capital, then record the rest as a loss. Which he will either accept in good faith or run back to the person who invited him into crypto without giving him any proper knowledge about it, since the entire story describes the person as the major problem here.

One of the major problems face in bitcoin is the narrative that is spread to newbies by some investors. Many people share the narrative that bitcoin is ROI which is mostly misunderstood by the newbies as a get rich quick scheme. This has lead many of this newbies to invest all of their savings into bitcoin. Personal I don’t advise people to invest in bitcoin or cryptocurrency talk more of bringing them into trading. But someone should come toward to ask about it I strictly tell them the risk associated with it Due to its volatility. Many people think panting bitcoin all good will drive more adoption but I prefer the good name of bitcoin in the news with small adoption and people swaying around saying they lost their funds investing on it

I caught two persons arguing this morning that led to this post, one on the other hand says this person introduced me to bitcoin July 2022 while i was doing my normal buying and selling of yam and palm oil, quoting him; my business of selling yam was doing good, I buy yam in bags with palm oil and I have a store where I normally distribute it to customers, before he came with his ideas of buying and storing bitcoin and since then I have not gotten shishi, all my money has gone and am asking him to explains what went wrong? What happen to my money or bitcoin? Why is it only eating and not vomiting?

My reply, sir generally the market is down not only to you but everybody, just exercise patients because even myself can not explains to you why the price is not going up, I guess this is as a result of low demands and supply's chain of distribution of bitcoin that has affect the market but don't panic am sure you will recover your money when the market rise soon, but how soon he ask? I said the market is rising slowly already.

The argument ends but I want to draw this lesson to everyone;
1. When introducing crypto to anyone let them know you're not responsible for anything contrary.
2. Tell them you don't control the price, the system does.
3. You're not liable to any losses
4. The person should make good decision before joining
5. Don't collect money from the person to trade or invest for them. Them should do it themselves.
6. Don't tells the person when to withdrew his or her, they should chose went to.
7. No promises for anybody joining cryptosystem is a free market.