What Would You Tell a Friend Who's New to Bitcoin? - page 4.

Woodie

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Anybody getting into bitcoin on the basis of investing needs to be told to forget the traditional way of investments because with crypto not even your financial advisor can get it right...when it comes to crypto investments treat it like you are blind and can't see anything and you will be alright.

Secondly , don't make timeframes of when you will cash out because, cryptocurrencies can sometimes disappoint...so have an open mind and don't get a mortgage and hope crypto pays you in a flash...doesn't work this way!

Lastly invest with money you can afford to lose..not literal meaning though Roll Eyes

MinoRaiola

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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 can explain it in your own words and recommend a friend to buy bitcoins, or to hodl. But you can also use ChatGPT, the answers are often really nice. If the friend then has a skeptical question, you can also have ChatGPT answer it and add the friends skepticism. An AI wont lie (maybe), and the friend he should be able to understand it even better. You can also have the answer created in such a way that it is addressed to a small child.

Questat

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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.

To be honest, I don't share things about bitcoin to random people. But if it's a close friend, I would tell him that bitcoin is risky but it certainly has high potentials to bring us massive profits in the future.

However, I would not advise him to invest, but focus first on his research and studies. He'll be the one to decide then whether it's a good choice of investment or not. My point is, I don't want to be bias on my judgement just because I'm a bitcoiner, so I'll let him do his own research and decide if he'll risk his funds towards bitcoin or find another investment outside crypto.

CageMabok

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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 focus more on its investment potential when someone asks me like that, although after that I will also explain about the technology behind Bitcoin so that the person asking can have a more complex understanding of Bitcoin. Because when the person asking has been able to understand these two things, he will also have thoughts towards financial freedom that can be obtained through Bitcoin itself. But on the one hand, I also look at the condition of the person who asked first, because there are people who prefer to hear about its history first before about the technology and investment potential in Bitcoin itself.

Hamza2424

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Quote from: ?? on ??

When a friend asks me about Bitcoin, I first explain the idea that it's not controlled by any government or institution. Then, I touch on the investment side, emphasizing that while it can be profitable, it’s volatile and requires patience.
Finally, I point them to reliable resources for learning more. I always remind them to only invest what they can afford to lose and to approach it responsibly.

He's not asking about the information in reality according to the OP you should tell him what are you gonna give him as a piece of advice as his/her senior in the market.
For the rest your other suggestions to himvare top notch except the first as it's just a piece of information which is might already know as he's entering into a new market.

betswift

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Quote from: michellee on January 10, 2025, 05:35:28 AM

That depend on my friend. If he just want to know what is Bitcoin, I can explain for the globally but not too details. I think they just want to know about Bitcoin so I can suggest them to search by themselves. Maybe I will guide them to search for what they want because each people will have different interest to one thing.

Maybe I will explain a bit about the technology, the investment potential but not financial freedom. But I will suggests them to focus on the investment side from Bitcoin. That can help them to make a profit in the future so they should know more about that.

If they want to search for the potential of how to make money from Bitcoin, I will lead them to trading and give an example of trading. So that will depend on what their interest on Bitcoin so I can guide them to search.

Sounds wonderful.
It's really beautiful that anybody, in fact, would be able to find something in Bitcoin that would probably interest them.
And that all of these fields are open to discussion/learning process.

michellee

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That depend on my friend. If he just want to know what is Bitcoin, I can explain for the globally but not too details. I think they just want to know about Bitcoin so I can suggest them to search by themselves. Maybe I will guide them to search for what they want because each people will have different interest to one thing.

Maybe I will explain a bit about the technology, the investment potential but not financial freedom. But I will suggests them to focus on the investment side from Bitcoin. That can help them to make a profit in the future so they should know more about that.

If they want to search for the potential of how to make money from Bitcoin, I will lead them to trading and give an example of trading. So that will depend on what their interest on Bitcoin so I can guide them to search.

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Quote from: Patikno on January 09, 2025, 08:03:20 PM

It is good for learning Bitcoin more than just about the investment side, and in other side, I don't see that the beginner who just think so is a bad, because it's just the beginning for them to learn more about what Bitcoin is. However, I will be respectful for sceptical and curious beginner who want to learn more about Bitcoin, because finally they will found out Bitcoin as a gold, or even more than that.

Skepticism is good when it's justified. And after much time learning, a beginner would get rid of it regarding Bitcoin.
Then there would be no brakes for him from realizing its potential for himself.

Pandorak

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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?

Good question, basically of course what makes them interested is profit, profit that can be generated in a relatively fast time, it comes from their mindset. that's a statement that i often encounter by my friends, so i will break their expectations by showing how the market really runs, it's not an easy thing like you buy and then expect to get rich in a short time, it takes patience. Most of my friends only think about profits, so i only explain what they want to know, although i hope they ask about technology or the future benefits of crypto, it would be better and i will not regret explaining it for a long time.

Sebas.tian

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If someone show interest on Bitcoin, first, I will make sure I encourage him or her to learn Bitcoin, because I know without the knowledge of Bitcoin the person cannot achieve his or her goals in the nearest future. Once he achieve the knowledge of Bitcoin, I know he will start looking for funds to invest in Bitcoin, because he have seen many reasons to purchase Bitcoin and hold for long term to make income that will encourage him to purchase more when another bearish season appear. Those are some of the things knowledge of Bitcoin will do for you when you exercise patience to learn, I believe your friend that is showing interest on Bitcoin will like you more when you approach him in this manner to have the knowledge of Bitcoin.

Patikno

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Quote from: ? on January 09, 2025, 06:05:39 AM

Quote from: Patikno on January 09, 2025, 06:02:24 AM

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.

First thing that I will tell people is the investment potential, because most of them just thinking and talking about the profit by investing on Bitcoin, so I will start tell them by the side of Bitcoin as a potential investment. So, after it I will tell them about the fundamental of Bitcoin to ensure that Bitcoin will be exist forever, like the security and scarcity, these both points always be interesting things for beginner.

Clear points too - lots of people are viewing BTC only investment-wise. And it's bad they don't want to learn more, - going from such attitude to respect and understand what BTC stands for.

It is good for learning Bitcoin more than just about the investment side, and in other side, I don't see that the beginner who just think so is a bad, because it's just the beginning for them to learn more about what Bitcoin is. However, I will be respectful for sceptical and curious beginner who want to learn more about Bitcoin, because finally they will found out Bitcoin as a gold, or even more than that.

GeorgeJohn

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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.

As we are different that's how our knowledge will be different towards question..so different answers will be presented base on the way we understand bitcoin

In normal circumstances bitcoin is a decentralized currency in which you see the figures but you can't touch or feel it on your hands, so bitcoin is a digital currency that's asset in which we can invest as same we invest golds and other digital assets, so introducing someone who doesn' knowt about bitcoin, is very simple, you give the person a clip of tutorials videos of bitcoin so that the person will read/watch and listen before the person venture into bitcoin investment, to safe you from stress of giving the person oral lectures of bitcoin...the era has passed when you will preach to someone to have passion on bitcoin.

Stalker22

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Im not really sure how I'd respond if someone asked me about Bitcoin. I guess the first thing Id wanna do is understand why theyre even asking in the first place. Maybe they just heard about it somewhere and are curious what its all about and or maybe they actually wanna invest money in it. There's kinda a lot of hype around Bitcoin and crypto these days so..

If theyre just curious and wanna learn, I could give them a basic rundown of how Bitcoin works and explain things like digital wallets and blockchain. But if they wanna invest their hard-earned cash, I would definitely warn them that it tends to be pretty risky and volatile. The prices can change a lot day-to-day. Id share some of the ups and downs Bitcoin has seen over the years so they go in with eyes wide open.

Raflesia

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I will start by talking about the risks and the worst possibilities that they will receive when trying to invest in bitcoin and this I have talked to some of my colleagues or some people who are in my neighborhood who ask and are interested in bitcoin.
Because in the end when they ask about bitcoin and are offered many things including financial freedom it will only make their hopes and expectations greater without wanting a risk that actually has to be faced and I don't want to give a false shadow just because they want to be in bitcoin so that when I am asked about bitcoin then the worst possibilities and risks they have to bear must be an initial discussion apart from knowing how bitcoin works.

This is so that they know that being in bitcoin is not as easy as imagined and does not mean that being in bitcoin will always make them rich instantly so that reminders from the start are important for them that bitcoin is full of risks.

JiiBs

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I haven’t gotten the privilege outside this forum to tutor anyone on what Bitcoin is but, if that happens and a friend enquires of what Bitcoin is and what I think of it, I think the right way to start would be answering the question literally.

The question was; what is Bitcoin right? I’ll go ahead and tell the friend what I view Bitcoin to be. A p2p currency that exists on the blockchain. Further questions would come with further answers rather than trying to be persuasive and preach on all that is to gain from Bitcoin.

When the time comes for investment opportunities, I’ll be sure to project the risk in not having to invest for a long term and why DOY is a necessity.

wheelz1200

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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.

Honestly i would mention those things behind it, but mainly wouod poijt them in the direction of where they can learn about it. Different people are interested in different things. If you are talking to a trader friend, explaining the tech behind it wouldnt interest them and probably would disuade them from looking into it. Same with a tech heavy minded friend, if you talk about market spikes they will dismiss it. Lead them to water and let them go down whatever bitcoin rabbithole they wanted to go down.

RockBell

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Quote from: finaleshot2016 on January 09, 2025, 12:11:30 PM

I'm a tech guy, maybe I'll tell him first how bitcoin first by being technical then the others will be learned to experiences. As long as you know the foundation of cryptocurrency, you'll easily get hooked to everything like every single detail, you'll be curious and search about it. Crypto knowledge is everywhere now, and it's not limited, we also have this forum that tells everything about bitcoin. Actually, bitcointalk itself is a gold mine, you can read all of every person's insight regarding crypto and you can read a lot of details here.

And your way of explanation is actually very direct and very simple to understand in the other hand because everything will be void when you don't understand the technical aspects of bitcoin that is when you don't know how to read those chart then it's going to be a problem because you need to know exactly when you need to explore the market. And the foundation matters a lot because when you you have a lead of what you are suppose to do then that should not be a problem.

There are people that actually Learnt everything on there own and that is a great responsibility they put on there self and they are doing very well and that is because of how good they are in doing research but a lot of people don't want to put in any work and this is more of people that are seriously so much into learning and building a strong foundation and people with instinct are doing very well.

And if you look at this forum there is a lot of information that can even help every beginner, the issue is everyone have the choice of if they will be better or not, and how dedicated the person becomes will be the one to determine how far they will go.

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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.

Of course when intriducing Bitcoin to a friend it will be nice I tell them everything I know about Bitcoin ranging from the technology behind it , the investment, the potential, the risk and benefits. Educating someone about something is not just telling them from one angle but telling them. From different angle or aspect that will make them understand the terms and conditions, advantage and disadvantage, to enable such person knows the type of business h/she is about involving themselves, to stande a better chance of diffence when ther is a problem.

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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 will definitely start with that, sharing him about the investment potentials and how it can be beneficial for us in the long run, not just a store of value, but also a mode of payment in the future when global adoption for bitcoin is finally here. However, there would be no sugar coating, risk is higher with bitcoin so he deserves to know that in the first place. Let's see if he'll still take the rest and trust bitcoin for long term investment.

johnnyyash

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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.
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i will tell a friend of mine who is new to bitcoin about the investment part of it and its financial freedom involved it...bitcoin has bought alot of benefit to everyone who understands the digital currency and here to stay......

Topic: What Would You Tell a Friend Who's New to Bitcoin? - page 4. (Read 1164 times)