Bitcoin Forum

Forget bitcoins, you should have opened up that PNC virtual wallet. You would have made $150 guaranteed.

lol  :D

So, you told him they could go up or down and now you are going to tell him you were right? You didn't need to wait a year really, you could be fairly sure to be right even back then with predictions that specific.

to be fair,  as much as I believe bitcoins will grow,   I wouldn't push this on my dad who's not that technical,  plus he's literally 1 year away from retirement.

He's a Silver and Gold Bug (which is basically and old school version of Bitcoin)... in cases like that it's better not to push new technology / currency / way of thinking on people that really are looking forward to watch Judge Judy and play backgammon.

And the real reason?  My dad would have a heart attack if he saw the fluctuation today with the flash crash if that was his retirement money.   He would see 20 years of savings disappear in 10 minutes, only to gain 15 years back,  lose 7 years,  gain 9 ...  that's too much of a roller coaster for someone at that age.

Some people aren't built for something like this, others live for it.

It most certainly has been a bumpy ride, but a profitable one.

Not disagreeing, but bitcoin is growing, but extreme levels of speculation..   it's not meant (at this stage) for your fixed income retirees to invest in... at least not yet.   This is for a bunch of people that believe you can make the world better in 15 years by busting your ass now.

Agreed.

I have thought about this with people in my family, and I think the best course is not to push it on them or even suggest it as a possible investment, but rather just bring it up as a conversational piece. It respects their ability to make smart personal financial choices, while also fulfilling what I feel is my responsibility to inform them of potentially big changes/opportunities.

Are you one of those people who sits in the passenger seats of cars saying:

"I think maybe we have to get off at the next exit, but maybe it's not this exit actually"  then after you pass the exit "I f***ing knew it was that exit, I f***ing told you so, we should have got off that exit".

Let him know to donate like 10% to things that help him out, spreading bitcoin is the fastest way to make you're more valuable.

I'm trying to donate to tor and get a vpn and donate to this forum but it's harder than it seems, if someone could make a streamlined software that would like act like bitpay but have anonymity i would donate to that with some of my extra funds and I'm sure others would too. And you get the satisfation of helping out everyone and you're bitcoins would be worth more by having their use grow to more people.

Have the people you love put like $100 in and encourage them to tell more people too? $100 isn't too much right a speeding ticket is that much!

Why is it hard for people to understand the difference between betting something will happen and saying something could happen? If I said:

The earth could get hit tomorrow by an asteroid and wipeout much of humanity. I bet that won't happen. 

That doesn't mean I am predicting two different things. It means I am acknowledging a risk and I am taking a stance despite that risk.

I think it would be a good idea for everyone to get at least 1 bitcoin, if only for the lulz. My parents are interested now that they see I'm making a handsome profit out of it and are thinking of buying some themselves, but I do not want them to rely on me too much. And right now, even opening a Blockchain wallet and securing it is difficult on their malware infested Windows XP machine.

I really hope insured Bitcoin accounts by local banks are possible within a year so even technical laggards are able to get some.

I don't think the numbers work.

No, they don't. That's exactly the point  ;D

Oh man, that one flew right over my head. I hate being the guy who delivers the (explicit) punch line to a joke that's already been made (more subtly and cleverly). Well-played, sir.  :)

I thank you for your honesty  :D

http://en.wikipedia.org/wiki/Hindsight_bias
Good reading.

1. offer to handle the technical aspect for him. Create a paper wallet to store the BTC and when he wants to sell help him out with that
2. Who care how close to retirement he is. Just have him put in $500-1000 and even if the worst came to pass it wont really affect him that much.

I'm saying this to myself all the time as a disciplined investor:

The moment i see idiots convinced their loved ones take their retirement funds to buy bitcoin, i will dump all my coins because i know then.... thats a bubble about to burst.

OP, could you kindly PM me and let me know. I will buy you beers to drink on my yacht.