What Would You Tell a Friend Who's New to Bitcoin? - page 6.

Hamza2424

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Quote from: betswift on January 09, 2025, 06:33:27 AM

Interesting if that person did it themselves or they broke their socials / etc. and got the info from there.
In any case - I do think that's right too. Nobody except who you trust would need to know how good you are currently portfolio-wise. It's a person's choice to think out loud about it, and it would end up badly in some cases.

My job is to give him/her advice and mentorship, for the rest you need to know that is his/her own choice. If someone is not following the advice for the upcoming consequences he/she should be responsible as here in this digital era one wrong action can cause extreme damage.

Some people do such stupidity for flexing only or to attract other intentions for their social life.

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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?

Depends on what he wanted to know about Bitcoin, but as a starter I just tell him the basic, Bitcoin a technology made for financial inclusion and freedom of transaction. From there I would follow through on which topic he wanted to know.

People will ask question if they become interested and those questions will open up the path for discussion. I will also give him useful links so that he can research it by himself. It is best to let the new comer to make an effort in learning about Bitcoin. If we feed them everything, they will tend to become lazy and possibly miss out on important factors since we do not know everything about Bitcoin and need useful information on the internet. Instead of looking things for them, let them look for the things they want to know personally.

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Quote from: Hamza2424 on January 09, 2025, 06:26:57 AM

Never revealing your holding to anyone would be my first advice for him/her, as recently some horrible incidents have been happening. For example, some officials and a thief blackmailed a few people in one of the big cities here and asked for their entire holding, in other words, crypto loot.

Secondly, Buy and Hold and never lose hope. The market always tests your patience level.

Interesting if that person did it themselves or they broke their socials / etc. and got the info from there.
In any case - I do think that's right too. Nobody except who you trust would need to know how good you are currently portfolio-wise. It's a person's choice to think out loud about it, and it would end up badly in some cases.

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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?

it should depend on who my friend is if he is one looking for an investment opportunity of course i would focus on that but if he is a developer or he works in tech related industries then i would probably direct him towards the technical aspects of bitcoin

one thing’s for sure though is that i would explain what bitcoin actually is which is a decentralized currency and from there i am sure he would ask questions which could determine where the conversation will go but at the very basic i’d focus on what i do with bitcoin which is use it for transactions and profit

icalical

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If some friend asks about Bitcoin, what is important for me is the interest of this friend. I could relate and explain to him that, for investors, it's something like digital gold, risky but with the potential for gain. If his frustration is because of banks, well, Bitcoin does allow sending money without middlemen. I don't go all technical unless he seems interested in that aspect. Instead, I try to underline how it is different from regular money, decentralized, always available, and not controlled by any government. However, I will still mention the risk of loss, scam, and advise them to start small, learn a bit more. I'm trying to make it relevant so that they can see how it might fit into their life, not some hype or complicated technology.

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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.

Never revealing your holding to anyone would be my first advice for him/her, as recently some horrible incidents have been happening. For example, some officials and a thief blackmailed a few people in one of the big cities here and asked for their entire holding, in other words, crypto loot.

Secondly, Buy and Hold and never lose hope. The market always tests your patience level.

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Quote from: Felicity_Tide on January 09, 2025, 06:22:27 AM

If I'm opportune to lecture someone about Bitcoin, it will be more proper that I start from the financial aspect because that's what concerns most people today. then with time, I can introduce the technical (technology) part in a very simple fashion, like how secure it is, how the transaction works and why it is different from the regular transaction we do through our bank apps. Though, it doesn't involve much technicality, but at least, it is a clear insist.

I do think that when a person sees potential in BTC, he is blinded by the fact and don't see that there is much to learn besides that. You can understand what BTC upholds, but still would lack knowledge in certain areas, and because of that, some questions would be left unanswered.

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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?

It really depends on the angle that the supposed friend is asking from, but from a general view, people are more interested in money or how to get it, than trying to understand the mechanism or its working principal, which also implies to Bitcoin as well. Most people are aware of its benefits, so they often ask questions relating to that.

And to answer to the question, I will gladly give my response according to what's been asked.

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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 I'm opportune to lecture someone about Bitcoin, it will be more proper that I start from the financial aspect because that's what concerns most people today. then with time, I can introduce the technical (technology) part in a very simple fashion, like how secure it is, how the transaction works and why it is different from the regular transaction we do through our bank apps. Though, it doesn't involve much technicality, but at least, it is a clear insist.

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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.

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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.

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.

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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?

Non knowledgeable persons about bitcoin doesn't need require to be talked about the technicalities evolving bitcoin otherwise they'd get lost of it.
Taking it a discussion from how they can invest on it is also not a good atmosphere because they'd think you're either doing marketing just to get them convinced to invest in some what they're not interesting about.
Best be it is that you should talked to them about the intention of Satoshi Nakamoto's ideal to had invented bitcoin was primarily to develop a unique financial currency that'd be digital and decentralized and an equilibrium of unifying the eco and economy global acceptable financial technological system which are potentials to be accepted for payments as the traditional currencies does, can be exchanged for any other traditional currencies with benefitable potentials as to be hold for investment purposes whereas, it's under a self custodial unlike the traditional currencies that're being regulated by the authorities.

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Quote from: Apocollapse on January 09, 2025, 05:03:24 AM

I will answer I don't know anything about Bitcoin, period.

My privacy is the most important, friend is just a friend, you might be a friend now, but tomorrow your friend might be your worst nightmare. So, I avoid to talk anything about Bitcoin or any kind investments because people always think having investment = rich.

If I want to help my friend to understand about Bitcoin, I would create an alternative account on social media without linking my identity and I will approach him to discuss about Bitcoin, obviously I will focus about the utility rather than the money.

Did you have a bad situation regarding such cases?

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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.

No I won't hype them with those things, but rather I would scare them about scams or other things that could potentially make them lose their money. Since with this we can measure if they are really interested and not blinded unrealistic profits came up on their mind especially if they think about Bitcoin is easy quick rich schemes for them.

After they know or acknowledge the risk then this is the time that I provably teach those thing that can possibly give them some chance to earn. But only the basic things since they also need to do some research since its not good if they always rely on us since for this I think that they became a better investor if they mixed it up with proper researching to learn more information about Bitcoin.

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I will answer I don't know anything about Bitcoin, period.

My privacy is the most important, friend is just a friend, you might be a friend now, but tomorrow your friend might be your worst nightmare. So, I avoid to talk anything about Bitcoin or any kind investments because people always think having investment = rich.

If I want to help my friend to understand about Bitcoin, I would create an alternative account on social media without linking my identity and I will approach him to discuss about Bitcoin, obviously I will focus about the utility rather than the money.

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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.

Bitcoin is becoming more and more popular and famous all over the world as a highly profitable investment. If someone asks you about bitcoin, it shows that they definitely know you are a bitcoin investor and in investing, profit is the first thing we care about. So I won't beat around the bush with them, and will talk about the potential and profitability of bitcoin first.

But then I will tell them about the technology and how it works, what it can bring to us besides profit. We wouldn't invest in something we don't know and don't understand, I think they wouldn't either, so I'll explain clearly about bitcoin technology, how it works, pros and cons of bitcoin...Also, I don't want to be blamed later so I will tell them everything I know about bitcoin, not just the profits Grin

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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?

I tell them they’ve asked me this question a million times, and I’m not answering anymore because they only ask when Bitcoin’s price is going up.

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Do you focus on the tech behind it, the investment potential, or its role in financial freedom?

I don’t focus on anything. I tell them to do their own research, and I’ll know when they’re ready to talk about Bitcoin.

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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 they show they’re serious I share with them a copy of Mastering Bitcoin by Andreas Antonopoulos.

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Quote from: Charles-Tim on January 09, 2025, 02:51:07 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?

I will first let him know how it is a speculative asset and the best time to buy it. It is also important to let him know how to protect his coins and also tell him how scammers can come for his bitcoin and not only hackers. Privacy is also what I will let him know. It is important to let him know that trading is very risky because those that know about bitcoin can later find out about crypto trading.

Trading something is a bane of the newbies in the space, and doing it with Bitcoin - would break my heart and the potential that hodling presents.
Wink

Good choices.

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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?

I will first let him know how it is a speculative asset and the best time to buy it. It is also important to let him know how to protect his coins and also tell him how scammers can come for his bitcoin and not only hackers. Privacy is also what I will let him know. It is important to let him know that trading is very risky because those that know about bitcoin can later find out about crypto trading.

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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?

That's what an investor needs to consider first.

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1- Do you focus on the tech behind it,
2- its role in financial freedom?

if he is convince with it, then he will see there's an investment potential.
We are not running a hyip here, we are investing on what bitcoin could do to the world and as its demand increase due to adoption, that's where we will see the profit would result to our investment.

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I'd explain that it is a digital currency that lets people send and receive money w/out needing a bank. It's safe and secure because it uses blockchain technology. Bitcoin offers great potential for financial freedom and could be a smart investment as it grows over time. I'd encourage them to learn more and start exploring bitcoin little by little

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