Quote from: solehdavid on January 26, 2023, 09:21:41 PM

If I were to give advice, I would advise him to make small altcoin investments to understand how the cryptocurrency industry works and only buy bitcoin once he understands how things work. I mean, I would feel guilty for any losses that might occur. but I have to say, I would never give investment advice to a novice. when you are both novices, it is not an investment, it is a gamble.

That is Dumb. You are saying invest in shitcoins for practice for learning about bitcoin..

A smarter idea is to invest a smaller amount into bitcoin, and learn about bitcoin..... the practicing with bitcoin by investing small amounts into it has the potential to inspire further learning and research into bitcoin. Fuck shitcoins.

A funny thing is that you are correct about your idea not to give advice, and you are also correct that a goal for many should be to invest rather than gamble (even though you cannot stop people from gambling, wanting to gamble or even to treat an investment as a way to gamble because they do not know the difference.. but in any event your suggestion to fuck around with shitcoins in order to "practice to learn about bitcoin" is truly a waste of time... learning about shitcoins.. that is not a good investment of your time, energies, psychology and/or money.

It is a waste of all of those, including brain power to even be thinking about shitcoins as if they were a way to learn about bitcoin because it could well cause confusion and misunderstandings about what bitcoin is, and those kinds of misunderstandings about shitcoins being similar to bitcoin or within the same category and blah blah blah are already so common that people don't even realize that they have hardly any clue about bitcoin because they learn about shitcoins as if they were some kind of similar thing, and it is not true.. so you are a danger to yourself if you cannot figure that out and worse if you are telling others to do it.

You learn about bitcoin by getting the fuck started with bitcoin specifically, just like OP suggested. Yeah, she is a beginner, and yeah she does not know much of anything including that she might have been telling her friend to get involved oin some kind of an app that might not be secure and it also might merely be allowing for exposure to bitcoin rather than actual ownership of bitcoin, so that is a bit of a potential problem.. in terms of not really buying bitcoin.. even though the word bitcoin was being used in the advertisement.

Sure OP said that she does not know much of anything and she suggested that the friend study more and don't start out with too much in his investment. Those are good ideas to get someone started, and therefore, who's responsibility is it to look into the matter more in regards to what is bitcoin and what is it that the guy is buying or how he is storing bitcoin or getting exposure to bitcoin, the friend...

Yep, I am going to presume adults are interacting here, and therefore adults are responsible for their own spending of their time, energies and money, and the ONLY way that OP might become responsible is if there was some information that she had that the other person listening to her was treating her as if she was some kind of an expert when she already said that she wasn't an expert. There are ONLY so many disclaimers that any of us can give to others, and the others have to figure out various kinds of balances for themselves, including how much money they have based on cash coming in and their expenses and other matters like that.

Quote from: Cookdata on January 26, 2023, 10:44:49 PM

Are there people that still dont know what bitcoin is all about at this stage? Shocked

Hardly anyone knows shit about bitcoin, and that is why we likely still ONLY have around 1% world-wide adoption, and many folks who are invested in bitcoin are likely underinvested.

I would not presume that merely because people have heard the word bitcoin that they hardly have any clue about it.

It takes a while to understand various aspects of bitcoin, and then it can take a while to figure out whether to employ some kind of a potentially aggressive investment strategy, and then to employ such an aggressive strategy that is not overly aggressive.

Quote from: Cookdata on January 26, 2023, 10:44:49 PM

This is shocking though, you tried in your one way of explaining to him but I hope you didnt hype it, I frowned at people that does that because people expectations becomes high and they expect much from bitcoin and along the line, if it doesnt go the way they want it to be, the reality set in and they give up easily.

Its always advisable to tell people all they need about bitcoin, not only the sweet talk investment this and that, tell them the risky part of it, it will at least ease their expectations when there is volatility in the price, trust me those are the people that last with bitcoin even when there is FUD or bleed in the market.

Getting through a whole 4-year cycle might be helpful, but still high volatility is not easy to deal with, even with a decent amount of practice, high volatility can still make longer time bitcoiners to still become nervous, even if their BTC holdings may well be in decent profits..

No guarantee of profits either.. even if bitcoin has been amongst the best of world-wide applicable investments in the past 10 years or so.. and even if bitcoin still seems to have an investment thesis that is asymmetrical to the upside and likely getting stronger with the passage of time, rather than weakening in any ways, except that some of the upside of early adoption becomes less with the passage of time, so that the earlier that any of us is "in" bitcoin without losing our stash, the likely that we are quite better off for those kinds of decisions and actions to get in relatively earlier than we might have had if we had not acted when we did.. presuming that we did act to buy and to mostly HODL without losing or selling significant amounts of our stash.

Quote from: pawel7777 on January 26, 2023, 11:39:33 PM

..... but do not go around giving investment advice.

Hahahahaha

What if I walked around all day long with a neon sign that said "buy bitcoin".. or and if anyone asked me, I would just say, when in doubt buy bitcoin. I doubt that I am responsible ... but I suppose we get into details sometimes, and maybe every time that I have a conversation with anyone and a problem comes up, I say: "You should buy bitcoin, that might help."

So, it does not even matter to me what the problem might be, I might say: "Bitcoin potentially fixes that."

I suppose technically that is investment advice.. but really, I don't think that I am doing anything wrong.. and seems that the individual needs to figure out their personally specific financial and psychological details, no?