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Re: My mom bought Bitcoin
by
rei_m
on 21/02/2018, 07:42:52 UTC
Bitcoin is more than just Forex (due to lack of a central bank), especially once things like Rootstock (smart contracts) come into fruition. But that explanation was pretty good for someone who has absolutely no clue about Bitcoin (your mom in this case).

Just make sure she knows that she could lose a significant portion if things go bad and that she should mentally prepare for that scenario. I don't think it will happen, but it's best to be prepared anyways.

Thanks. Yes definitely agree. At that moment in time however forex was the only quick comparison I could draw on to explain to her that it’s not like putting your money in a “savings” account and drawing interest from it 😆