Yea, you are actually right @Dogedegen. One bad shitcoin investment can mess your financial life up. I have a friend who believes so much in shitcoins investment. Just last week he chartted me up, complaining of how he lost 700k Nigerian currency to an online shitcoins investment scheme, and the loss has drastically and/or completely drained his physical business. It is at this point of regret he spoke of a better and more reliable investment means, which is Bitcoin, but according to him, waiting for so long for the investment has always been his problem.
At this point I asked him, would he rather invest in shitcoins and expect quick returns and loose all your money just like what happened now, or it's better you invest in Bitcoin gradually and Hodl and be sure of your future gains?He thought about it for a while and then said the one that provides assurance for future worth and value is the best, then I told him welcome.
I understand that you are trying to help a friend, but I want you to understand that the good you are trying to do will turn bad in a split seconds if you don't do it well, giving a newbie enough assurance of his future returns if he Invest in Bitcoin is really a bad idea because if anything happens to his Bitcoin investment, you will be held accountable, and you and I knows that nothing is guaranteed in this life due to the fact that we live in a world full of uncertainty, so it would have been better you explain the risk associated with Bitcoin also to him, because according to your explanation, it looks like Bitcoin has no risk at all which I see as misleading, so telling him the risk and how that risk can be shrinked to the bearest minimum if it can be held for a very long time is much better than giving him too much assurance on Bitcoin, when we know that it is not risk free.
I think I have played my role by enlightening him of the danger of shitcoins and altcoins, and the future that Bitcoin holds for us generally.
Truly you have done well by telling him the danger attached to investment in alt and meme coin, but if you did not complete your explanation by telling him the risk attached to Bitcoin also and how it can be mitigated if held for a very long time, you are doing a great disservice to yourself because he will hold you accountable if anything happens to his Bitcoin investment, if it doesn't goes as planned.