What Would You Tell a Friend Who's New to Bitcoin?

NicNacCoin

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Quote from: BitJannik on January 09, 2025, 02:36:40 AM

When a friend asks you about bitcoin, what's the first thing you tell them? Do you focus on the tech behind it, the investment potential, or its role in financial freedom?

Let's share our best advice and insights for introducing bitcoin to newcomers and how we can help them navigate the complexities of crypto and understand why it's worth their attention.

I always encourage newbies to learn about Bitcoin. If someone wants to learn about Bitcoin, I must first tell them about the risks of Bitcoin. Because if a newbie does not know about the risks of Bitcoin, then he is likely to stumble upon Bitcoin. Then slowly tell him about Bitcoin. If he thinks that he has gained a fairly good experience about Bitcoin, has gained a good experience about investing, then he should focus on his decision. If he thinks that he will invest, then leave it to him. But newbies should first learn about Bitcoin and explain and talk to them very well and sincerely.

Mame89

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Quote from: BitJannik on January 09, 2025, 02:36:40 AM

When a friend asks you about bitcoin, what's the first thing you tell them? Do you focus on the tech behind it, the investment potential, or its role in financial freedom?

Let's share our best advice and insights for introducing bitcoin to newcomers and how we can help them navigate the complexities of crypto and understand why it's worth their attention.

Actually it depends on how my friend asks me, if he just asks without any seriousness I will not say I don't know, but if he asks seriously I will explain starting from the technology, the growth is very good, the potential for investment is also good to achieve financial freedom.
Because my principle is, I don't want me to succeed alone, I will definitely tell my close friends if they want to know more about bitcoin. Because every friend who asks we can judge which one is serious, really wants to learn, and which one is just curious.

So telling information and the potential of bitcoin to friends is not wrong, what is wrong is reporting or showing your assets to your friends because it is risky and of course we also maintain privacy. I have a friend who invested in bitcoin, now he seems successful in investing if you look at his financial appearance he is starting to stabilize and it started because he asked me seriously. He was successful not because of me, but I only told him at the beginning, the rest he looked for information himself and did his own research.

Plaguedeath

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The first thing I will say Bitcoin isn't scam and Bitcoin is only decentralized if we hold it in non custody.

Many people are still have no idea with decentralization, they always said Bitcoin is decentralized while I see most of them hold all of their coins in centralized exchanges, they don't even have hardware wallet, and not even know non custodial wallet.

SuperBitMan

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Quote from: BitJannik on January 09, 2025, 02:36:40 AM

When a friend asks you about bitcoin, what's the first thing you tell them? Do you focus on the tech behind it, the investment potential, or its role in financial freedom?

Let's share our best advice and insights for introducing bitcoin to newcomers and how we can help them navigate the complexities of crypto and understand why it's worth their attention.

For me I will first time him it's role to financial freedom, how Bitcoin investment can make him or her financially stable in the future in other for him to understand the importance and benefit involved in Bitcoin investment after that I will tell him the tech behind it and how he should keep his Bitcoin wallet password and secret phrase safe and should not save them online because of hackers and also telling him he shouldn't use same wallet his using to accumulate Bitcoin to connect to airdrop if he those airdrop because they can use through there to get access to his Bitcoin, after this I will tell him what he should do to keep his Bitcoin investment untouched and that is building backup funds such as emergency, float and reserved funds and I will tell him the reason for building such funds which is to prevent dipping hands into his Bitcoin investment when there's an emergency or financial problem and they are not on cash they can dip hands into all this backup funds to settle those issues instead of dipping hands into his Bitcoin investment, then finally I will tell him how big Bitcoin can be in the future and encourage him to keep holding for long term.

BenCodie

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Quote from: ? on January 29, 2025, 06:18:40 AM

Quote from: BenCodie on January 29, 2025, 05:52:15 AM

I disagree. I believe that sentiment or more so curiosity than it is skepticism in 2025. I mean hello, the president is even saying as a nation they want to buy it? Maybe Europe and other places might be lagging a little while the US get the first move, but overall, sentiment definitely is a lot better than in the 2010s.

Agree with you!
Lots of talks and moves from everybody, and it's bullish, much more bullish, and potentially brings positive outcomes than what we could see in 2010s.

Every cycle pushes the boundaries of what is possible forward.

Fully with you. A small part of me worries about the massive positive sentiment and interest for normies after Bitcoin has multiplied by 6-7x since the start of January 2023...I will not be surprised if the markets have a black swan in store, similar to that of March 2020. Hopefully normies learnt BTD along the way this time around! The 2020 bull run definitely helped bring further learning to the masses, I can't wait to see what 2028 looks like...

Judith87403

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Quote from: BitJannik on January 09, 2025, 02:36:40 AM

When a friend asks you about bitcoin, what's the first thing you tell them? Do you focus on the tech behind it, the investment potential, or its role in financial freedom?

Let's share our best advice and insights for introducing bitcoin to newcomers and how we can help them navigate the complexities of crypto and understand why it's worth their attention.

If your intention is to get him to invest in bitcoin of course you need to start with the investment potential this will make him pay undivided attention till when you're done with whatever thing you wish to tell him about bitcoin investment. You know if you want to convince someone to go into something that is very beneficial first you need to start with the juicy part of it so as to draw his attention very closer before any other thing, but you and I know that forcing someone to go into bitcoin investment is not ideal.

You know most people will always want to hear the good side of it before any other thing because if you choose to start with the tech behind it as you said, definitely they will just jump into conclusion that they're not interested. they won't have you finish with whatever information you wish to give to them about bitcoin investment. They will just cut you off, that's for those who sees bitcoin investment as scam. which is why I don't like telling people about bitcoin investment, except those who are well prepared to go into it, probably asking for assistance from me then I can decide to help.

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Quote from: BenCodie on January 29, 2025, 05:52:15 AM

I disagree. I believe that sentiment or more so curiosity than it is skepticism in 2025. I mean hello, the president is even saying as a nation they want to buy it? Maybe Europe and other places might be lagging a little while the US get the first move, but overall, sentiment definitely is a lot better than in the 2010s.

Agree with you!
Lots of talks and moves from everybody, and it's bullish, much more bullish, and potentially brings positive outcomes than what we could see in 2010s.

Every cycle pushes the boundaries of what is possible forward.

BenCodie

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Quote from: kotajikikox on January 29, 2025, 02:54:45 AM

Quote from: BenCodie on January 27, 2025, 09:31:03 AM

If they are ready to learn, I would teach them all about the security side of things more than anything. How to be self-custodial but secure, what scams look like, how to make sure you don't lose by making usage mistakes. If they aren't ready to learn, I'd just ask them if they're sure they want to dabble in something that is highly volatile without knowing how to stay safe. That usually reminds them that it's important to learn how to be safe pretty quickly.

The problem with a lot of people though is they are very easy to write off bitcoin or cryptocurrencies. The moment they hear it they immediately think it’s a scam and therefore doesn’t deserve their time and attention even without hearing it first. If they just listened, They could have a better understanding of crypto.

I disagree. I believe that sentiment or more so curiosity than it is skepticism in 2025. I mean hello, the president is even saying as a nation they want to buy it? Maybe Europe and other places might be lagging a little while the US get the first move, but overall, sentiment definitely is a lot better than in the 2010s.

Quote from: kotajikikox on January 29, 2025, 02:54:45 AM

If they asked though, I would still give them the options because maybe they would like to trade rather than hold. Maybe they would be more interested in that, who knows?

Trading requires a lot more skill than HODL'ing - sure trading might be interesting to them (as is for most til they learn the hard way) though do you really want to encourage someone to take that route that requires a lot more skill, experience and expertise in comparison to learning the necessities required to just hold an asset that hasn't failed anyone who held for 4+ years?

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Quote from: kotajikikox on January 29, 2025, 02:54:45 AM

If they asked though, I would still give them the options because maybe they would like to trade rather than hold. Maybe they would be more interested in that, who knows?

They would be able to try things differently, I agree.
Once they would try both from both worlds, they will choose what suits them best.
Stability or potential of their investment.

kotajikikox

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Quote from: BenCodie on January 27, 2025, 09:31:03 AM

If they are ready to learn, I would teach them all about the security side of things more than anything. How to be self-custodial but secure, what scams look like, how to make sure you don't lose by making usage mistakes. If they aren't ready to learn, I'd just ask them if they're sure they want to dabble in something that is highly volatile without knowing how to stay safe. That usually reminds them that it's important to learn how to be safe pretty quickly.

The problem with a lot of people though is they are very easy to write off bitcoin or cryptocurrencies. The moment they hear it they immediately think it’s a scam and therefore doesn’t deserve their time and attention even without hearing it first. If they just listened, They could have a better understanding of crypto.

Quote

Then, why HODL'ing and DCA have been the best strategies since inception, in comparison to things like day trading, or buying/selling on emotion. It's a simple approach, though it's the bare necessities before going into any detail that is more granular in my opinion.

If they asked though, I would still give them the options because maybe they would like to trade rather than hold. Maybe they would be more interested in that, who knows?

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Quote from: BitJannik on January 09, 2025, 02:36:40 AM

When a friend asks you about bitcoin, what's the first thing you tell them? Do you focus on the tech behind it, the investment potential, or its role in financial freedom?

Let's share our best advice and insights for introducing bitcoin to newcomers and how we can help them navigate the complexities of crypto and understand why it's worth their attention.

I encourage my friends who are not familiar with Bitcoin to invest in Bitcoin, but I also caution them against investing. If people understand that Bitcoin is a risky investment, it can be risky but also very profitable. So I only encourage those who are interested, but I advise those who are not interested to stay away from Bitcoin.

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Quote from: ? on January 28, 2025, 12:41:13 AM

You Don't need anybody to tell you any thing about bitcoin, first, have the interest and commitment for bitcoin investment, make your own research by reading books , turning the internet up-side-down,get updated about current bitcoin news and threads.

Therefore, having don all these, I don't think you will be having any issue with bitcoin investment.

In crypto, every man is the king of his fate.
And I like it for that matter. Nobody enforces you to learn or get a hold of things, only you would be able to do so.

Learn Bitcoin

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Quote from: BitJannik on January 09, 2025, 02:36:40 AM

When a friend asks you about bitcoin, what's the first thing you tell them? Do you focus on the tech behind it, the investment potential, or its role in financial freedom?

Ordinary people do not care about what tech is behind in something. If you explain to them how Elon Mask's spaceships managed to land on Earth and how they did it, they won't be interested in it. People do not want to know the tech behind Bitcoin, especially if they don't understand how it works. Almost the same for financial freedom as well. How many of us actually care about financial freedom today?

We think the government and the banks are our friends who keep our money securely. But when you want to withdraw your own money from banks, they ask you dozens of questions, ask for documents, and much more. But people are getting used to it. So, financial freedom is not going to convince them.

The only thing people care about is now investment. If you explain to them the investment potential of Bitcoin, you may convince a couple of friends to invest in Bitcoin. But you don't have to do it unless you want to get blamed later.

?

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Quote from: BitJannik on January 09, 2025, 02:36:40 AM

When a friend asks you about bitcoin, what's the first thing you tell them? Do you focus on the tech behind it, the investment potential, or its role in financial freedom?

Let's share our best advice and insights for introducing bitcoin to newcomers and how we can help them navigate the complexities of crypto and understand why it's worth their attention.

You Don't need anybody to tell you any thing about bitcoin, first, have the interest and commitment for bitcoin investment, make your own research by reading books , turning the internet up-side-down,get updated about current bitcoin news and threads.

Therefore, having don all these, I don't think you will be having any issue with bitcoin investment.

BenCodie

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If they are ready to learn, I would teach them all about the security side of things more than anything. How to be self-custodial but secure, what scams look like, how to make sure you don't lose by making usage mistakes. If they aren't ready to learn, I'd just ask them if they're sure they want to dabble in something that is highly volatile without knowing how to stay safe. That usually reminds them that it's important to learn how to be safe pretty quickly. Then, why HODL'ing and DCA have been the best strategies since inception, in comparison to things like day trading, or buying/selling on emotion. It's a simple approach, though it's the bare necessities before going into any detail that is more granular in my opinion.

Adbitco

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Quote from: BitJannik on January 09, 2025, 02:36:40 AM

When a friend asks you about bitcoin, what's the first thing you tell them? Do you focus on the tech behind it, the investment potential, or its role in financial freedom?

Let's share our best advice and insights for introducing bitcoin to newcomers and how we can help them navigate the complexities of crypto and understand why it's worth their attention.

I know too well that bitcoin is no longer hidden and is something that is extremely open to the general world which anyone can google online to make their findings, trust or not, before they must ask about bitcoin they might have heard some striking story or a life changing news about bitcoin that may push them to come ask questions about bitcoin. In other words, they come to know how they can starts their investment journey but if i have such person my discussion will directly based on the security aspects of it before even thinking of telling them investment purposes. It's always important for them to have the thorough knowledge about what they are going to invest on before at least putting their money into what they don't know for any reason.

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Quote from: ? on January 23, 2025, 09:47:05 PM

One thing I'd tell a friend is that bitcoin isn't a "get-rich-quick" asset. It's a long term play for many people who believe in its potential as a decentralized store of value. I'd encourage them to focus on learning and investing gradually and to avoid making emotional decisions based on short term price movements

Good advice.
Nothing wrong with learning BTC first and then stepping into the investment part of the process.
If anything, Bitcoin offers a choice and alternatives. And that's beautiful.

naira

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Quote from: BitJannik on January 09, 2025, 02:36:40 AM

When a friend asks you about bitcoin, what's the first thing you tell them? Do you focus on the tech behind it, the investment potential, or its role in financial freedom?

Let's share our best advice and insights for introducing bitcoin to newcomers and how we can help them navigate the complexities of crypto and understand why it's worth their attention.

What I emphasize most to those who ask about bitcoin is "the concept of freedom in single ownership" as long as it is acceptable to them, then buy and keep it as long as possible in any amount you can afford, keep the key in a safe place. That's all I always say, while the rest can be obtained through the process of learning and experience over time.

The reason behind it all, because I never doubt investing in bitcoin.

?

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To a friend new to bitcoin, I'd emphasize the importance of doing there own research. The crypto world can be overwhelming and there's a lot of misinformation. It's crucial to follow trusted sources, understand how to spot scams and stay updated on the latest developments in the space. This knowledge will help them make informed decisions moving forward

?

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One thing I'd tell a friend is that bitcoin isn't a "get-rich-quick" asset. It's a long term play for many people who believe in its potential as a decentralized store of value. I'd encourage them to focus on learning and investing gradually and to avoid making emotional decisions based on short term price movements

Topic: What Would You Tell a Friend Who's New to Bitcoin? (Read 1291 times)