Quote from: Mame89 on Today at 03:43:35 PM

Quote from: Fuso.hp on May 31, 2023, 05:15:03 PM

I don't know how I make decisions as a boy.
My father is a military man. He has served in this military sector for 25 years. His term of service is almost at an end. After two months he was going to retire from the job. He will get retirement pension after his service life in the military sector and he has many plans based on this retirement pension.
His first dream is to build a house with this retirement money. But right now in my country all the materials needed to build a house are very expensive so building a house right now can't be a good decision. And I don't feel safe keeping his pension money in the bank because earlier there was inflation in my country where some banks went bankrupt.
So right now I am not able to give him any proper advice as a boy. But one thing I've been wondering for a few days is if I invest half of my father's retirement allowance in Bitcoin, am I doing something wrong?
I feel like if I invest half the amount in Bitcoin for a year after receiving his retirement allowance, I might be able to hand over more money to my dad at the end of the year.
Hope I get proper advice from you.

Actually your intentions are very good, but you also need to explain how bitcoin works to your father. Because your father has retired and maybe now only relies on monthly pensions and interest from deposits. Where is it actually uncomfortable for you, because of course the total is very limited and you are also afraid that the bank will go bankrupt. But your father's fear is that if you invest in bitcoin, you will lose, because it is not as certain as a deposit. (Fear of no monthly money)

Therefore, you should first consult with your father about how to use pension money, especially if you say it's only one year. Bitcoin is very volatile in one year it can be profitable or vice versa. Just a suggestion, even if later you get permission from your father to use his money to invest in bitcoin, it's better for you to use the DCA method, don't use all the available funds. This is used to minimize losses.

Using other people's money to invest in bitcoin is never considered a good intention. I think OP shouldn't just ask his father's opinion but let him decide everything because it's the only money he depends on for the rest of his life. Investing in bitcoin is a good way to increase your wealth, but it is not the only way, and not everyone is suitable to invest in bitcoin. If it's the only money and his dad has no other source of income, it's never a good idea to use that money to invest. For some people, retirement is very important and can't be lost, so don't give advice when we're not in their position and don't know what they're thinking.