Quote from: hyudien on March 04, 2023, 07:03:12 AM

Quote from: Mr.corol on February 24, 2023, 05:10:30 PM

My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.

My only question to all, was I able to give my grandfather the right advice??

You have given the right advice, that for someone who is old and he just needs to enjoy his old age, investing in Bitcoin as a whole would be risky. More ideal is for him to invest in the enjoyment of life such as medical benefits and dream places. Because if he invests everything in Bitcoin and when there are no heirs to manage it. But apart from that it all comes back to your grandfather's decision.

If he still pursue on his plan, I think you have done your part making him aware on the risks investing in bitcoin. So at least, you still have to be there for him guiding him knowing bitcoin investment is new for him. But tbh, I dont see bitcoin investment is still appropriate for old ages as it would only cause them to panic and become stressful seeing their investments are not working in progress. Bitcoin has its high volatility, and anybody who is only used to see traditional investment will definitely struggle in making bitcoin investment works.