Quote from: cafter on October 22, 2023, 02:15:17 PM

One major concern that holds me back is the perceived risk of Bitcoin. What if people invest and end up losing their hard-earned money?
How do you approach this aspect when talking about crypto?

Please do not encourage them to invest in Bitcoin if they have no knowledge or very little knowledge about Bitcoin. Let them learn first about Bitcoin. It's like the stock market but better than the stock market in some ways. You can try to explain to them from your knowledge but don't force them to convince them to invest in it. If they understand, you will notice they will ask you how to invest. Always give them the warning that there are risk of losing their money as well if you can't hold it for the long term. Because if you do not give them a warning, they may blame you later.

Whenever I talk to my friends about Bitcoin, I tell them it's a long process. If you expect that it will make you rich over night, don't invest in it. You are not in loss if you hold it. That is unrealized loss. If you sell it, you have to sell in loss. Unless you still have the same amount you bought a month ago.