What comes straight to mind is embezzling the ill-gotten money, but is this even safe? My other neighbor knows I am into Bitcoin and he learned from me, I guess that's how this other neighbor knew, I told him to go meet the next neighbor but he said he is not ready to teach.
What will you do if something like this is happening around you? Why would a drug dealer want to learn Bitcoin if not for a safer haven for running the business?
My mind isn't settled as I keep thinking different things, what is on your mind readers?
If embezzling money isn't your making then you shouldn't be afraid about it. He most likely knew about your knowledge of Bitcoin from other neighbors.
My advice would be to let them know about this forum and how to create posts here rest he can do on his own so you don't have to put your leg into the mud (if that's what you're worried about)
Although his is interested in buying a warehouse placing solar on the roof and mining at a much higher level.
He was part owner of a Bank in Lakewood NJ. USA rules state under 14% is all you can own.
He has good money maybe 30 -35 mill.
Yet we are going to Target for cheaper eggs today.
You are correct that his BTC hodl of 5 coins which is 150k out of say 30 million or 0.5% could grow to 5% if btc shot up to 300k.
Still in his case he simply does not need the money.
He was working class guy that did well in stocks and cable ownership. He parleyed it into part owner of a bank. The bank did well he sold it. He has real estate stocks bonds metals cash BTC and a few private loans where he finances guys with ideas.
These are the typical wealthy people I met while living in NJ.
maybe a dozen guys and 1 women (she is a widow of my friends partner). all of them were middle class 'norms' that did well.
All of them would stand to gain money they don't need if BTC goes from 30k to 300k. Most of them would hodl it as they don't need the extra wealth.
It seems you've been in good company, from what I understand your friend is doing it for fun and that's great. Using Solar panels for mining is a good idea but what about weather issues, i hope he has thought about it Or maybe switch to paid electricity while in bad weather.
Post
Topic
BoardBitcoin Discussion
Re: Are there age limits to Bitcoin investment?
by
Snipe Eagle
on 28/07/2023, 11:15:58 UTC
Depends on the understanding of a person. If they can understand the working of Bitcoin at the age of 14 then they invest whatever pocket money they have.