Post
Topic
Board Bitcoin Discussion
Re: How to get your Dad (or Mom) to buy Bitcoin?
by
FatFork
on 27/07/2024, 14:26:51 UTC
What is most likely to happen they will provide capital and say it is we who manage because of the nature of parents who want to see their children successful in financial matters. But if we force them to be involved and investment skills and technology are not mastered, then we are the same as let them lose money.

You're right, Trying to get your parents on board with Bitcoin can be tougher than teaching calculus to a labradoodle.  Their financial universe revolved around assets like stocks, bonds, and real estate.  Crypto? Yeah, it's alien territory for them.

Part of me gets why just taking their money and handling the crypto yourself seems easier.  Skip trying to explain private keys or 51% attacks.  But if we don't bring them along for the ride that first 10% drop will freak them out.  Then come the frantic calls demanding you dump everything. 

I don't have all the answers yet on the best way to open their minds.  Maybe we start slow, explain the basics without all the technical jargon.  Or share stories of institutions now investing.  Patience and small steps...