Post
Topic
Board Bitcoin Discussion
Re: Do you introduce bitcoin and crypto to your friends?
by
GIF-JOBS
on 19/02/2025, 15:24:18 UTC
Only to my close friends and relatives because I also want them to have an easier life or brighter future.
I am also reminding them that it this investment isn't something that would make them rich overnight.
That investing in Bitcoin could also lead into loss it wouldn't always be gaining profit.
That's actually true, when introducing Bitcoin to friends it is good we tell them the advantage and the disadvantages of Bitcoin investment since its not a ponzi scheme where to make money overnight. Bitcoin may be good but when introducing it to someone, you have to make them understand what Bitcoin investment is all about, otherwise if the investment goes South, they will eventually HODL you responsible for their loss when it's not even time to sell.
I also agree with you, in fact, investing in currencies like Bitcoin requires at least a general understanding of Bitcoin. Bitcoin investment does not require deep knowledge, but it is necessary to have general knowledge.
It is okay for you to tell your friend about Bitcoin investment, but never force him to invest, let him make his own independent decision. First, explain to him how risky Bitcoin is, there are many who only talk about profit and see the profit side, but never consider the risk and after a certain time they face losses due to that risk.

That is why you first tell your friend about the risks of Bitcoin, Bitcoin never guarantees profit and it is not a quick profit scheme, tell him that to achieve real profit from Bitcoin, he must hold it continuously for 8 to 10 years. Reveal the truth to him about the possibility of profit and loss. Then, if he has the ability to accept the potential risks of Bitcoin, let him invest as he wishes.

When telling someone about Bitcoin, present all the facts about Bitcoin so that he gets a full understanding of the potential for profit and loss, and so that he can invest on his own decision, So that in the future, unfortunately, for any negative situation, He can't blame you.