Post
Topic
Board Bitcoin Discussion
Re: Don't advice anyone to invest on Bitcoin if he doesn't have Alt. income
by
AVE5
on 29/05/2024, 18:18:53 UTC
There is nothing wrong if he choose to come back to Bitcoin investment, perhaps that's why they say that every change in behavior or acceptance is as a result of experience so perhaps he has realized that if he had diversified his part of the salary into Bitcoin he would have gotten an investment to fall back on since he has lost his job but however if his motive on Bitcoin is to become rich overnight or an alternative of making money on a weekly basis is obvious he may not be ready yet because it will be very difficult or impossible achieving that, however I realized that most people who have not really venture into Bitcoin has a very wrong impression on Bitcoin investment because they feel that is very easy to start and begin to make money immediately.
It's rare to find someone who couldn't diversify his source of income to other areas when he was prettily doing financially well than when struggling to survive with no more source of incomes. I can tell you that if you get involved in such cases of my cousin, then you should get yourself ready to be blamed because he can't afford to starve himself and unables to pay his bills when he have funds there in his bitcoin investment.
So you can imagine if he gets choked up and needed to sell on emergency purposes at when the market price seems low even to a point he can't recover his capital, what'd you think will be his state of emotion? Of course all blames would be on me.


The reason why I'm saying this is because it was not quite long ago when I was approach by a friend who told me that he wants to invest on Bitcoin that he neXdjheds a guideline and that he was told that immediately he invested on Bitcoin that he will start making money, I became surprised were he might have gotten such idea, so perhaps that's why in a case like this we should really know the intentions of the person for choosing to invest on Bitcoin to avoid coming back later and start blaming you if he did not see what he was expecting on his investment.

So right there you could find necessary reasons why my cousins case intentions of picking late interest on Investing on bitcoin seems to be void.
He thought is that he was going to make it quick rich to sustain his financial needs since he has lost his job. I just can't be part of that so, it's better I leave the whole blames to him than worrying my conscience to had mislead him knowing that his portfolio isn't capable to undergo a demanded long time holding like bitcoin before you can make some profits.