Bitcoin Forum

My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.

My only question to all, was I able to give my grandfather the right advice??

That's good advice. An important rule of investing is not putting in more than you can afford to lose.
Your grandfather putting all of his wealth into Bitcoin is a very bad decision and one that could have negative consequences.

Much better to buy slowly and spread over multiple purchases, DCA.

 Well, I know you have good intentions by introducing your grandfather to Bitcoin investment but I think it's his choice on what to do with his wealth. Because with Bitcoin's penchant for volatility. It would be advisable to use that which he can easily part away with.
 Your concerns are really valid and it's good you opened his eyes to the risk of a potential damage to his investment if Bitcoin price experiences a downward surge. Well, even though we're optimistic that we'd soon be experiencing a Bitcoin halving, it's still best to invest invest with what he can afford to lose.

You may just let him be. What wise old people see sitting down the younger can't see standing. Maybe he saw something you can't see... The future! They see far ahead.
You could however tell him to split the fund into multi parts with different private keys for more security... There are other security tips you could teach him. You could also teach him how to move about 80% of his funds to stablecoin when Bitcoin reaches it peak at +$30,000 soon, then he can move the fund back to Bitcoin to buy at lower price...this can be repeated to grow the investment faster.  His fund in the stablecoin (like USD based) will also move up and he can use that(or even his bitcoins) to pay for things he need considering you said he will invest all his wealth. But I would advice people like him to be careful next time. He should try to stick to investing only part of his wealth in Bitcoin in the future esp to set an example to the younger.
Finally, he is good to go if he is investing longterm. It's like planting a seed and waiting patiently to see it turn into a tree with many good fruits.
I wish him all the best.

Actually, that doesn't seem like very good advice to me.  I think that when you decide to switch from Fiat to Bitcoin, you don't do it to get rich but to embrace a financial revolution that has no equal.  So your thought is wrong, when I look at Bitcoin I do it in the hope that one day I will be free and not rich.

Well it's tricky for old people to invest in crypto stuffs, which it depends on the purpose of that investment for. If it's me, I'd rather suggest my grandpa to enjoy his retirement by having a trip to any place he likes. Or if he still wants to make an investment, he could just make a store, restaurant, or shop that accepting bitcoin as the payment. Elderly people get used to work for years, and in their retirement, it's bothering them a lot to do nothing in their house. Though you did a good thing by suggesting him not to invest all of his wealth into bitcoin, which the main rule of investment is, don't put all of your money into one basket.

You mean your father or grandfather? My grandfather will call be me a scammer if I try to introduce him to Bitcoin because he might never understand anything about it. He is an unlearned man that is concerned with his fowls, goat and cows, just kidding  ::).

But you gave your father a good advice because he shouldn't invest all his wealth in Bitcoin. You also did well by telling him that just like other investment he can also suffer loss. You need to teach him about keeping his keys and password. I have to introduce you to my grandpa maybe you can convince him to use some of his income from agriculture to invest in bitcoin  ::).

I really curious how old your granddad is. It's surprising, though, that you were successful in convincing him to buy Bitcoin. Most often, elderly people don't want to understand Bitcoin and don't think that virtual currencies exist. You are certainly a lucky man for having explained things to him appropriately. His entire savings, in my opinion, should not be put into Bitcoin. Gotta keep some money on hand in case of emergency. Because Bitcoin is a very volatile cryptocurrency that could crash at any time for any reason, as we all know. Everything would then be lost or forced to wait longer. As you have suggested, I would also.

I don't want to sound like a bore, but every time I see a similar topic where people are giving investment advice to their grandparents, second cousin great uncle or whatever, the first thing I want to ask them is. How much wealth have you made from investing if you are already advising others? Nothing? What moral right do you have then to give advice? Earn good money - then speak.

Also, I don't think older people like your grandfather (if that's true) would be much interested in investing if he already has accumulated wealth. More often at their age, other priorities.

I don’t know about others, but this post makes me suspicious that it was written by a cheap analogue of ChatGPT or something like this. The words grandfather, wealth, bitcoin, invest are repeated too often and sound like a mantra.
OP, I'm sorry if this is your actual level of writing skill and I didn't mean to sound rude and don't take my nitpicking seriously.

I wonder just how you got your grandfather to invest his money in bitcoin. Normally, it’s very difficult to get through to elderly folks about newer technology and innovations but you seem to have convinced yours to invest his money in bitcoin. If that’s truly the case here, then I must commend and applaud you for undertaking such a feat.
I think it’s great that you mentioned how volatile bitcoin is and its ability to either shoot up in price or decline further down. It’s not wise to keep all your eggs in one basket and I’m glad you let him know that it’s not wise to invest all of his money.

Yes, what you did is right. Bitcoin investment has higher risks compared to other investments, so one should not invest all in or putting all his wealth into bitcoin knowing it could always result into life changing losses even with a single mistake done. However, your grandfather could still put just a portion of his wealth and invest in bitcoin for long term. And when that profits, eventually he can increase his investment capital and accumulate more bitcoin for more future profits.

How do you convince the old man anyways I am curious to know what and how you made that happen, old people are more sceptical towards bitcoin and cryptocurrency investments and most of them never give the young folks the audience to try to educate them on the risk and advantages of bitcoin.
I believe that since he already loved you enough to want to risk some of his wealth on bitcoin I am sure you should be ready to teach him how to secure his wallet and use bitcoin as an alternative currency and let your ground father try not to put too much into Bitcoin that he cant afford to let go for a long time.

I’m just surprised that even in his old age, he still wants to venture into an investment where in fact, he could just enjoy all his wealth if he wishes to. But certainly, it’s a great decision too as long as he’ll only invest an amount he can afford to lose. And most probably, he can leave some of his wealth into his children too so they can also benefit them in the future. Or better yet, he can go invest some of his wealth but let his children manage them as it’s stressful for an old age to manage a risky investment.

Every investment must understand in his field such as an example of your grandfather you want to invest in bitcoin then he already knows before about bitcoin and basic understanding? For me it's important before investing in Bitcoin.

It would be better not to put eggs in one basket in the sense that all wealth is moved to Bitcoin is certainly very high risk if there is a very deep price decline because Bitcoin is very fluctuating.
Investing in Bitcoin must dare to lose even though I know that it won't be lost Bitcoin, it's just that it remains a reference for your grandfather not to all wealth in investing in Bitcoin.

It is a good advice since your grandfather already has the mindset of investment, but also let him know that he has to make plans now he is alive for his bitcoins for the time he dies. He is old and close to death, so making plans for when he dies is important so all his investments in bitcoins don't become intransferable and lost, locked in some wallet that no one can access. He has to understand the importance of his private key and how if possible it has to be included in his will.

In as much as we all love bitcoin and want to pour all that we have in it in anticipation of making big profit from it, it is still very wise for us to diversify our investments, Don't invest every thing you have on Bitcoin, there are still hundreds of other crypto asset out there with good potentials, but just incase you don't want to invest in an altcoin, then consider investing in stocks, real estates as well, this are all investment opportunities that could bring in good profit in the future.

So to answer your question now , Yes, you indeed advised your grand father well, i was also thinking, is your grand father still that young that he is still looking to invest in bitcoin right now?, cus i thought old people usually don't have that much interest in investing in bitcoin.

Good advice OP, I believe your grandfather will live long, if he listen to your advice and work with it in the environment, I guess he will surely enjoy his wealth in his old age . Investing all your wealth in BTC is not advisable because, the price of BTC can remain low through out the year for the old man to start thinking negative things about BTC not knowing that BTC investment is different from fiat investment. Hope you told your grandfather to use this bear season to buy BTC and hold for future purpose because the price has reduced to $23k.

It is quite simple yet clear that you stated that putting all your grandfather's money into Bitcoin may give him some problems if the price of Bitcoin plummets or the investment does not perform well.  Although we are positive with Bitcoin market uptrend, there is time when Bitcoin price crashes and may harm your grandfather's health if he experienced it.  So, yes you gave your ground father a sound advice, hopefully he will listen to you and invest the money he can afford to lose.

That is a good one OP advising your grandfather about the ups and downs about bitcoin is alright for his knowledge. Atleast you let him know that investing in what he can afford to loose is the one of the fundamentals of bitcoin investment if one must invest and do business with bitcoin. From the looks, seems your grand father already have knowledge of bitcoin. For him to have accepted I investing his wealth in bitcoin them he must be a smart business man. Do well to tell him about storing his key phrase in a safe place and do not forget to tell him to let you know too if only he can trust you not to do away with his assets. Et him know the phrase " not your keys, not your assets" ie the dangers of keep his assets with centralised exchange so it does not hang there.

From your story, it seems that your grandfather did not fully understand cryptocurrency as a very high-risk investment.
I think you did the right thing to do which was to warn against being too greedy to invest in Bitcoin.
You should always accompany and direct your grandfather to invest in Bitcoin.
If there is nothing to direct, I afraid that your grandfather will make a fatal mistake when investing in the crypto world.
Or maybe worse, losing the wealth he has invested in Bitcoin.

The mind of old people doesn't work the way young minds do and for you to be able to convince him to invest in Bitcoin is quite surprising and I commend you for that, and also you letting him know that there is a possibility of losing money (i.e when the price of Bitcoin falls) that way he'll be able to prepare his mind for what comes afterward and reduce panic.

I think that was good advice. He really shouldn't invest more than he can afford to lose. That is really important!

But you should also explain to him where he can buy bitcoin safely and without risk. There are enough people who fall for scam exchanges and lose their money there. Especially if they have no experience. And if he really invests in bitcoin, you should also explain to him how to keep his bitcoins safe. It shouldn't store the coins on an exchange and maybe buy a hardware wallet so that it plays it safe.  :)

Yes, great job. Bitcoin investment takes a lot of risk so your grandfather should never invest all what he has got as he may end up losing them everything if not properly managed. Although I would say bitcoin is very profitable, but it takes for some professionals to invest for guaranteed profits, while your grandfather has no experience at all so he must invest only what he won’t regret losing.

With risks from bitcoin investment, I guess your grandfather will have a hard time managing bitcoin especially when the market is showing some recession or when there is sudden decline in bitcoin price. So I would agree more if he will just enjoy his wealth while he is still alive or share some of his wealth into his children so they can start investing if they want. Investments are not for golden age people, it will only make their remaining days stressful and become deprived from the possibility of enjoying their life.

You are right in my opinion, but you have to see how old your grandfather is to ensure that when bitcoin increases in its cycle your grandfather can enjoy investing in his bitcoins, and maybe you also need to keep an eye on your grandfather's seed phrase wallet because maybe he will quickly forget what he saved maybe even what he did the age factor is usually like that but if you grandpa your still looks physically fit a longer term offer with a DCA strategy may be better for the investment ride and less stress when a downturn occurs.

Your advice is just right. Never let him invest all in with bitcoin. There are more possibilities that he will only lose them all knowing he is not an experienced investor, and that bitcoin investment is still new for him. And before he will take the risk investing with bitcoin, let him educate first on how bitcoin works and how he can avoid the risks of losing. He can do investing as much as he want but at his current age condition, I guess it won’t be easy for him to manage all the pitfalls that might come his way.

I personally would hesitate to recommend investing in cryptocurrencies to my grandfather, as I would be concerned about the potential risks involved. He is getting up there in years, and he might not have the time or the stomach to weather the ups and downs of the crypto market. If he wants to invest his money, there are plenty of more traditional options that might be better suited to his goals and his comfort level.

I guess OP won’t let his grandfather invest too without making him aware on how to safely invest in bitcoin and avoid some circumstances like being scammed or money being stolen. Since OP introduced bitcoin to his grandfather, then it will be his responsibility to guide him throughout his investment and when he thinks he can do it alone, then he can leave it everything to his grandfather. But as always, invest only with a minimal amount so that if he lose, it won’t be a big issue for him, most especially for old people as they have hard time managing some issues in their lives.

It depends on the trust I think.  If old people trust a person, they will definitely listen and do what that person tells them or advise them to do.  Honestly, it is not surprising to see old people investing on Bitcoin.  They have the money and many invest and become a victim of scam company, so it is not surprising that his grandfather will listen to @OP and invest in Bitcoin since Bitcoin is nowhere near to being a scam.


I think your faith in the Bitcoin market isn't enough that you can recommend it to your grandfather.  Anyway, we have different kind on how we see things so if you think that Bitcoin is not an advisable investment for older person then I think that is good enough reason to hesitate.

If you ask me personally, is it a good idea for your Grandfather to invest all his money into bitcoin then I would say yes. I have done very well being balls deep in bitcoin myself. Hopefully he lives through at least another two halvening cycles so he can see his bitcoin drastically increase in value.

There is no better investment than bitcoin if you have a long term view. Hopefully he’s not too old and can see the price many magnitudes higher than it is now.

You have given the right advice to your grandfather.
It is true that he shouldn't invest all his wealth, it is too risky. It is better to invest some wealth only, don't be greedy to invest all the wealth. Bitcoin investment is a high risk, we can't predict the future of Bitcoin obviously. Since it is high-risk and unpredictable, most people are only brave to invest with the money they can afford to lose. Just show him the example of some cases of people losing money in Bitcoin because of being greedy and investing carelessly !!

I guess so. But apart from that, is your grandfather have some other source of income like a pension aside from that wealth that you've mentioned?
The age of your grandfather is also a factor in his needs. I think he's got to cover all of his expenses and even if he wants to invest in bitcoin, at his age, he needs to be more conservative and delicate in spending his money. If it's me, even if I'm pro-bitcoin and want to let him invest on it, I'll be sensitive on how he's going to spend his wealth if it's all that he's got.

I think that it is wise advice. Although we all know that Bitcoin's potential is very high, moreover for a long-term investment. But as you said, behind its high-profit probability, there is also a risk. That is why money management in the Bitcoin investment is very essential to make a proper decision. Bitcoin may probably give you very high profits, but it may also probably give high loss when you are not able to control yourself because of a panic situation. or even when suddenly something happened and your grandfather must cash out the money as soon as possible but in fact, the Bitcoin price is still at the low price. this will hurt so much. That is why I really agree with you to give advice like this. Investing in Bitcoin is worthy and valuable, but not for all. There must be money management and diversification for other investments to keep good things happening.

Me too. Investing in bitcoin is high risk and the market is very volatile. We all know that our old grandpops would probably be wanting to see how it turns out but maybe it's not really for them. Because once they see the reality of it and make them aware of how the ups and downs of the market, they might just give it up and wouldn't like the wave of it. Most of our grandpas have grown up being traditional not just in life but also in investments.

If your grandfather is well informed about bitcoin then it definitely means that there are lots of grandpa's out there who have knowledge about bitcoin and are wanting to do same just like your grandfather. No one is left behind in bitcoin as it is for all irrespective of your age and this says it all. OP you have done very well by educating your grandpa on investment in bitcoin and your grandfather seems cool with the idea. The smart move you made by letting him not to invest all his wealth into bitcoin is what I like most so as not to run at risk if it goes towards that direction and another thing you did which o commend you is letting him know how risky bitcoin market os, the ups and downs in the market so he would have knowledge about it and prepare himself for the unforseen.

well, if he really does want to invest. better secure tangible assets first like at least he has a home to live with, ample amount for retirement and other expenses. just let him start with small funds if he wants to try the bitcoin market. he will understand the risk as he goes thru his journey in this market.
most have different notion about this market, like gaining huge profits at a short period of time, hence, maybe his grandpa wants to be all in in this market. they will understand later on that gaining profits would take a lot of patience and hard work. it actually doesn't come easy.

Actually, I have a lot of faith in Bitcoin and everything it represents. But, when it comes to the Bitcoin market, it is not always a smooth ride. Like any other market, it can be affected by factors like regulatory changes and global economic trends. So, I think it is important to be careful and consider all the angles before diving in, especially for older folks who might be more cautious about risks and looking for more stable options. Ultimately, everyone has to make their own decision on whether or not to invest in Bitcoin or any other asset, based on their own research. That is why I said that I would hesitate to recommend investing in cryptocurrencies, like Bitcoin, to my grandfather. As much as I believe in the potential of Bitcoin, it is important to be realistic about the risks involved.

Don't know where your grand father learn about bitcoin so you need to ask him about what he knows about it so that you can correct his wrong thoughts about bitcoin and you will placed him on correct place with right information.

About the advice you give to your grandfather well that's a good advice because it can save up your grand fathers wealth to a total loss because for sure he will face huge struggles especially bitcoin is so volatile and a bad market movement can drain all his hard earned money for so many years.

Would he be able to track the market price? Does he has the long term or short term vision? Given that there's this generation gap, and since you are the one to introduce it to him, maybe you should as well guide him withthe technicalities of tis industry. But that is a good thing to not advice investing all of his wealth. Risk is present so that's just right to emphasize as well the chances of losing profit. If he's not new in the world of investment, for sure he'd have a good grasp of it but if not, be his guide. You have the right intentions indeed but know that you'd be more accountable on his decision. Questions will be asked by him for sure if not on a daily basis, periodically, so be sure to clear it always.

Probably or definitely his grandfather has an internet accessible phone and he reads blogs or social medias posts relating to bitcoin. It could also be that OP told him about bitcoin, then he researched and decided to give it a try. Picking the all in decision isn't a good idea for the old man, but if he sees it as a risk then it's worth the investment. Since he is old and wants to try cryptocurrency maybe the market would favor him and go bullish. Moreover his grandson can monitor the market for him and sell if it gets so bearish and the son think it could make his grandfather feel the pain. Investing half is good, but if the market goes higher in profits he might regret why he didn't invest all he wanted to invest.

Rather confused if you asked him to invest all or invest a part. If it was the former then you should probably take it back and ask him to split his investments to other stuff he's able to, maybe less volatile ones compared to Bitcoin. If it was the latter then yea sure, but I'd probably teach him about Bitcoin instead and let him decide for himself. If he doesn't understand it then I sure as hell will not force him to invest in it, no matter how much I believe in Bitcoin and it's a possibility as a good investment. After all, it's only a "possibility" and additionally, it's not my money.

If I can take responsibility for the investment though then maybe I'd handle it myself.

My question is, how old is your grandfather? Why don't you let your grandfather enjoy his last days? Why invest in old age? Instead of advising my grandfather to invest, I will try to give him a fulfilling life at the end of his life. We invest also to find a comfortable life in old age, so treat your grandfather well. Because when you have a lot of money, you can't take it with you when you die.

For me yes, but if I were you, you need your grandfather first to educate what Bitcoin is, not only for investment so he will understand what he is investing in. Because if it's just your will or you are the only one who understands it, it's useless.
So that he will also know what he is getting into it.

That word "You will sit in the street if your investment is a loss" will really woke him up. We are almost the same approach if i am giving someone advice at first I'll discuss the information and how to earn profit then I'll slap them with hard truth about lossing it so that only those who are really eager to learn and try to prevent the losses will invest in because most of us are just telling the good stuff not the bad stuff

Grandfather will be about 70 years old. I love and care for my grandfather very much. Grandfather understandably wants to invest in Bitcoin. The value of 1 rupee today and 1 rupee in the future is very different. This is what we call inflation. Since Bitcoin is a volatile digital cryptocurrency currency. So my grandfather got interested in investing in Bitcoin. I fully explained to my grandfather that Bitcoin has both profit and loss.

Sounds like a horror story from r/wallstreetbets waiting to happen. Never put money that you can't afford to lose into something. I'm not sure how much money your grandfather put into bitcoin but by the words of your post, it seems like a crazy amount of money. Hopefully, all goes well but good luck.

I don't know how old you are but if I estimate your age in your 20's then your grandfather is around 60 to 70 years old so it's really plausible that your grandfather is interested in Bitcoin at this age. But always advise your grandfather and explain how risky it is to invest in Bitcoin and that he should take that risk and invest and follow DCA instead of investing all his money at once or he will be heartbroken if he loses big at this age. Can die from an heart attack  :(

Add this piece to the list of advice, bitcoin in general is a long-term investment for a real visible profit. However, it is actually worrying to see that your grandpa is too old to expect to enjoy the return on his investment. I would especially like to reassure him for what purpose he is investing in his old age.

OP said he explained to his grandfather about the risks but I really doubt that his great grandfather didn't fully understand what he was saying. He is also a newbie in the market, he has not experienced the feeling of loss how can he pass all the risk on to others? A person who has never experienced a bear season with extreme volatility and knows only about the risks from other people's accounts will not have enough experience to give investment advice to others.

Yeah that's the point, it's better for these elderly to just avoid any possible stress sources such an investment, especially on some volatile and short-time-unpredictable thing like crypto. They have spend most of their age to work and they deserve to take a long break in their retirement. Sharing some of the wealth to their descendants would be a good option too, and just let these younger people to invest. The grandpa happy to share his wealth to his grandchild, and the grandchild happy to accept it. I see absolute win-win situation here.

Not only Bitcoins, but in all types of investments, there is risk. It’s good to know that you advised your grandfather to not invest in Bitcoins. As Bitcoins don’t give instant returns, rather Bitcoins are for long term investments. It would be even great if you can advise your grandfather to not invest in anywhere. As let him enjoy his retirement life with no tension and with his wealth and pensions. If your grandfather is happy with what he has achieved and can live the rest of his life without any suffering or pain, then it’s best for your grandfather to chill and enjoy. That will be more than sufficient.

Apart from you having to tell your grandfather about the advantages and disadvantages of investing, you also have to tell him that it is time for someone who is too old like your grandfather to rest more and not need to think more about investing even though it is also not wrong if he want to do it by learning from yourself.

But people who are too old with 70 years of age will actually be better off if they are able to take care of themselves by maintaining their health without thinking about many things because everything must be left up to the next generation like you.

There is no right or wrong advice, there is only advice.

What I mean is that as long as you are honest and your grandfather knows the risks and potential limitations of his investment, then he knows what is best for himself. Some people live well without savings, others need to live without taking any risks. We are all different, your advice could be great for me, and horrible for my mother.

Personally having done ALL IN in Bitcoin has never put me out on the street, it has gotten me out. But it's clear that it's hard to be objective, for me having done all in BTC at the time was not very risky, because I didn't have much.

The real positive thing, apart from the risk of your grandfather's decision, is that you educated him on a potential lever of freedom, and that apparently thanks to you, one more person seems to have understood BTC. As long as he understands what he is doing, and is aware of all the risks, his decision can't be wrong. If you are willing to take all the consequences of your investments, there is no pressure. I guess he wouldn't make a decision that could send him out on the street

op is new to this forum but maybe he already knows about bitcoin from long before. if his story is true. Now every day such stories are seen in this forum now it is very difficult to understand which is true story and which is false especially newbie accounts are constantly posting different kinds of stories to get some merit to rank up the account.  I still confused that the op's story is true. But whether the story is true or false he has got a merit that is his worth

There's nothing wrong with OP talking about bitcoin with his grandfather, but if it were me, I would stop my grandfather from investing in bitcoin. Because as you say: a person is 70 years old, it's time to enjoy life and health is the most important thing in the moment. Even if it turns out to be profitable, it won't make him young again to enjoy them. But if he's a geek and likes to explore new things, then it won't be a problem for him to invest, but don't let him invest all of his savings.

That is great advice and not only that, it also educates your grandfather about the risk involved in investing in crypto. Because most of the time we just see the positive side of investing in Bitcoin, we usually though that it grows continuously but never see the possibilities that the price will drop or even collapse. I'd see that he really has the courage to invest but he also needs to consider the idea of putting all eggs in one basket is full of risk.  
And tell him that, it is safe to spread his money into the different investment platforms that just put it all in Bitcoin.  

You're right, that's how it should be. One must know what bitcoin is before they decide to invest. It's hard to believe why they should invest when they have no idea what bitcoin is even if someone can convince them of its potential. This means they can't buy the cat in the sack before they can clearly see what's in the sack.

It's good if you have explained bitcoin and also its advantages and disadvantages. You also explained the risks of investing in bitcoin so that your grandfather knows what to do. You just stay with him during his journey of investing in bitcoin and explain everything else if he wants to know more about bitcoin. And don't forget to keep advising your grandfather about only investing in bitcoin with the money he can afford so that he doesn't immediately use all of his wealth to invest in bitcoin.

You don’t know what would be better off for a 70 year old. I think when you’re 70 years old, then you can have an opinion on what a 70 year old has to do and think about. Also, I don’t think everything should be left to the next generation as it’s never too late for anyone irregardless of their age to get onboard with bitcoin.
As a 70 year old, it’s still very possible to be healthy and still have investments

I know you've been advising your grandpa to invest in one of the best assets ever, but are you sure your grandpa can afford to take the loss if bitcoin doesn't bring him the returns it deserves after a few years?

You can't ask anyone to put all their wealth in bitcoin if they don't know what bitcoin is and what the risks are. It is also not advisable to do so even if you are sure he knows what the consequences will be. We all never know what will happen to bitcoin in the future, but if you believe it is profitable then you should suggest investing an amount you can afford to lose.

Yes, you can. But don't let your grandfather invest in bitcoin with all his wealth when he doesn't know what the risks are.

I don't know if it's good or bad knowing that it's your "grandfather".
I mean you just let your grandfather invest into something that he can't understand. You just said that there is a potential profit and loss and that's it.

Educating an old person regarding complex things especially Bitcoin is very hard, but at least teach your grandfather even at least the basics of it. Can I ask you a question? If worst thing happens and your grandfather passes away, who will took the Bitcoins that your grandfather bought? If it's you then I guess you kind of trick him so that you can get a share of his wealth.

For me, I'd rather just let your grandfather hold the wealth as it is than investing it into Bitcoin. I don't know, but there's a chance that he can't take the potential loss on his investments. Overall, I can't say that you gave your grandfather a right advice considering that he's old unless you will teach him, and give him some knowledge.

I can't imagine an old man putting in his retirement benefits or other means of livelihood into something as risky as Bitcoin and since we have to wait for a long term before we can see the impact of that investment, which is something that old people don't have time to wait for Bitcoin investment to mature because they have already spent their productive age, unlike young folks who have plenty of time to wait.

They can do it for their children and grandchildren, meaning they no longer expect profit for themselves but more for their inheritance.

You may have heard that many parents buy valuable assets to keep their children alive after they die ^{[inheritance],} and in this case they can also do so with bitcoin while they tell their children or potential beneficiaries the private keys or their seed wallet. Does a case like this make no sense to you?

If grandfather dies after investing in bitcoins we will divide it between us. My family consists of my parents and grandfather and we three brothers and two sisters. I will share equally with my family.

Everyone pray for my grandfather that my grandfather may live long.

Everyone pray for the long life of your grandfather. And your grandfather haven't invested yet. You've given the suggestion to invest. The suggestion is good, but request him to allocate little amount and have the rest of his earnings in different investment or savings. Because during the elderly people want money to meet unexpected needs. Maybe we can encounter situation in which the market is down and you're in need of money for some emergency medical needs or something similar.

you gave the best advice, in trading, it's advice to trade only the proportion you'll be comfortable to loose.

I know so many of us give birth at a very young age, but I still can't help but imagine how old it is your grandfather would be at this time and considering that too, would he be mentally fit to handle it or you'd handle his wallet for him???

perhaps this is one of the most interesting things I've read recently on the forum.I think one of the important points is for your grandfather to give someone the keys to his savings, or write the keys in his will.Since his savings may be lost, and it is also very important that he learns exactly how Bitcoin works and it is important that he does not fall into the hands of scammers.Good luck to you.

you gave the best advice in the world and this does not only apply to bitcoin, you should never put all your money in one investment, no matter how much everyone says it is profitable and safe, you should not put all your money in one investment , the person must diversify investment, your grandfather must diversify investment, he can buy houses, land, bitcoin, he can invest in a business in the real world... there are many things he can invest

you need to show him the danger of all investments, another important point:

It is necessary to have an idea of age vs. expected time of return on an investment, it makes no sense for a 65 year old person to buy bitcoin to hold for 5 years, when nothing guarantees that person will reach 70 years old nowadays life expectancy is low, with so many diseases that exist, people no longer live long

That's good. Even though bitcoin is a good investment, but that does not mean it will also be very good for some time especially giving all the wealth to the investment is definitely not a good thing in this case.
Especially if you say this is grandfather, then indirectly age also determines it, and therefore some of it is more than enough in my opinion because when you say about grandfather, now is not the time to invest but to enjoy life with wealth from what you have done before.

That was the right call, OP. I am not sure why would others push into going all of their wealth into Bitcoin and would even going far into selling their own lands and property just for the sake of getting into it or even becoming a whale. I can recall some stories in Trading Discussion surrounding those topics.

I would also advise your grandfather as well about other things to be learned about with Bitcoin such as where it is the best to hold it and its whole in-depth stuffs.

What exactly will his father be thinking about? Mining? How to set up the rig? What type of rig to buy? Op said he gave his grandad investment advice and not how to mine or how to develop Bitcoin so all he has to do is to bring out the money he wants to invest i.e if he truly buys the idea, and allow Op do the investment for him, Op can also be monitoring everything for him and if he sees that profit is good enough he can cash out for his grandad as well so the old man has nothing to worry about, the only thing I would said the man would have worried about is if there are risked involved or not but since Op already told him every about it then that one is settled.

Hi there,

It's great that you're thinking about your grandfather's financial future and trying to offer him sound advice. As you said, investing in Bitcoin can be a risky endeavor, and it's important to consider the potential for both gains and losses. Diversification is often recommended as a strategy to reduce risk, so investing a portion of his wealth in Bitcoin rather than all of it may be a wise decision.

It's also important to remember that everyone's financial situation is unique and there is no one-size-fits-all answer. So, the decision to invest in Bitcoin or any other asset should be based on a careful assessment of one's financial goals, risk tolerance, and investment horizon. Encouraging your grandfather to do his own research and consult with a financial advisor can also be helpful.

Best of luck to you and your grandfather!

Unless you are a Financial advisor and the advice is asked for, you should be cautious giving out financial advice to people especially your family members and even friends. Allow people ask you for advice before you give them at their own risk, so they value it, not giving people advice especially the advice around their finance when they did not really ask for you to advice them. It is so so your advice does not become useless or less useful then. If you give advice to people when did not ask you for it, you can be childishly blamed by them should something happen.

I don't know how high inflation is in your country, but I do know that if your grandfather lived for 70 years and wasn't killed by inflation, there's no reason to worry about inflation when he's 70. The person who should be concerned about inflation right now is you, not your grandfather, unless you're thinking of inheriting that money.
He can still invest, but investment doesn't mean too much for a person whose need right now is health, enjoying life with grandchildren and relatives.

Maybe at the beginning, he only gave information about bitcoin. That changed after his grandfather became interested and wanted to learn more about bitcoin so he wanted to invest in bitcoin. It's natural for someone to be curious about something that didn't exist back then, so it will be interesting for him to learn more about bitcoin. Maybe his grandfather wants to invest enough money to make ends meet and those of us who know about bitcoin can teach that grandfather a little.

You have given a very sound advise to your grandpa. He definitely runs the risk of heartbreak, if he losses all his money to the volatile crypto currency market. You should go ahead to tell your grandpa that diversification of his revenue streams should be in his line of thought. As you already know, it would be better if he first invested some money in bitcoin and subsequently in other businesses. He will only have one source of income if he invests all of his money in bitcoin, which is risky and the consequence is grave as earlier mentioned.

If grandfather managed to create some kind of fortune, then he probably knows how to manage money and most likely he understands that it is not worth investing all the money in one thing. In addition, if the grandfather wants to invest in bitcoin, then he should learn everything about the safe storage of coins. The time is still good to buy bitcoin, we can expect a bull market in the next few years, and this can bring a good profit.

That's good to hear.

I guess the wealth of your grandfather is in good hands already once his time will come. Teach your family as well with regards to Bitcoin if you can. :) Teaching them might be a good start for them in their own crypto investment journey instead of just giving them the Bitcoins that came from your grandfather.

I'm a family oriented person (said it twice today already), so I always pray for other people a long life and so your grandfather. Take care of him and take care of yourself as well.

OP you have given right advice for your father about Bitcoin investment with two side between profit or loss, if your father keeps investing his wealth in Bitcoin actually he has understand about risk waiting for when investing in Bitcoin. But need give another advice when investing in  Bitcoin never hurry up and keep waiting right time when bitcoin have lower price.

Don't push your father keep earn profit in daily day and better become long term holding although need waiting more than one year but your father wealth still increasing up.

I don't see anything wrong with the advice you gave your grandfather, at least he can't blame you in the end.
But I am also impressed with your grandfather's courage.

      I also saw in your grandfather that he was not skeptical about bitcoin, but he believed in it completely. It's like when I read that a person sold all his property and what he sold was invested in bitcoin, it's a bit similar to what my grandfather did if I look at it, and that man is now rich, I just can't remember I read or watched that article.

I agree in terms of giving advice on investing in bitcoins for him, your grandpa's age should be enjoying his wealth more and taking a regular approach to investing in bitcoins rather than investing his entire fortune in a big way. Let's say he will be successful in his investment, my question is are you given full access to his bitcoin assets. If not, how will he run and manage it?

1. If yes, please give one good reason why he gave full access to you.
2. If not, what does he expect from investing in bitcoin, isn't it that the age of people who have grown old don't master technology and will have quite a hard time adapting to this.

If there is no more specific answer, then I'm afraid your grandfather will have a bad old age for the investment advice he made, not because bitcoin gave him losses but because he was unable to enjoy the returns from the investments he made.

I shared my grandfather's investment story with everyone. Many people are happy to hear about my grandfather's bitcoin investment. Want to invest in Bitcoin even in old age. Many people also say that your grandfather is too old so it is better not to invest now. Actually there is no benefit in keeping wealth at home. It is better to put resources to some use. My grandfather is interested in investing in terms of profit and loss. I advised my grandfather to invest some assets. Everyone will pray for my grandfather that he may live long.


Many thanks to all brothers from my side. What advice should I give my grandfather? Many said the advice was good. Some brothers say that it is better not to invest in old age. My grandfather wants to invest in Bitcoin. So I will invest him some wealth in bitcoins.

I think the decision you have given is correct. But did your grandfather have prior experience with Bitcoin or did he develop interest in investing in Bitcoin after hearing from you? My advice is to keep your grandfather's wealth. If you have wealth, holding onto that wealth is the greatest investment. I can't find a greater investment than wealth. Investing in Bitcoin, though profitable, is also the most risky. If your grandfather lost in investments then your grandfather may die in old age due to losses. I think it is better not to sell any of your grandfather's assets.

if you are in good faith for this advise then I see no reason why  you will need to ask these questions .


what I was thinking is that "Are you an Investor your own"? if not then this maybe a mistake because if ever this ends wrong then only your Grandfather is the loser here. and that will make you feel the guilt .

According to me, your grandfather is old and has reached the age of rest and does not have to do anything or invest more. But if your grandpa still decides to invest, then we should respect his decision, I believe your grandpa knows what he's doing with his money. Your job is to stay by his side and explain and pass on all the bitcoin knowledge you know to him. So that he is clearly aware of the risks and benefits of investing in bitcoin. I fully support your bitcoin recommendation and your grandfather's bold decision.

I don't see any reason why you should give advice to someone if you haven't experienced it or known it. You can't give advice if you are not an investor yourself because you don't know how it works. Once you tell the person, for sure, he will ask you more questions about it.
 
For sure, his grandfather will get curious about it and spend some money on it to try it. I just hope that he will not go all in on it as it is very risky and he is already old.

If your grandfather is very rich, I suggest that your grandfather make an eternal investment, even though your grandfather has passed away, and the merits will continue to flow to him.
I mean, because a grandfather must be very old and also over 60 years old. It's better to invest to build a place of worship or create an orphanage or other things that can benefit many people and also for your grandfather during life and also after death, I think it's much better to use the remaining wealth to invest for the hereafter, which can generate goodness and become a field of eternal reward.
By the way, I admire your grandfather for having the ambition or passion to invest in bitcoin which I think is rare for a grandfather to be interested in bitcoin and even know about it, and as I mentioned above and it was the best choice. And your grandpa can also invest in bitcoins as part of his wealth if that's what he wants and you stay by his side to help him and advise him in the long term so your grandpa doesn't think too much about or care about the volatility that there is because it can mess with his mind especially psychologically which will fatal considering your grandfather is old and prone to thoughts that make your grandfather sick.

Who told you that old people don't invest, it's a good plan to get the old people to make investment only if the resources are at their disposal. Investing in bitcoin is such a great idea with regards to the purpose of the status of the individual in question. He made clear that his grandfather was wealthy, so I think losing wouldn't hurt that bad, after all it's his grandchild that's putting everything together inother to make profits. In as much the grandfather is old, we shouldn't forget about the high volatility of the market which easily sinked down all capital invested specifically when the bear season comes.

If one knows how to invest, the risk is always involved, and you can lose what you have invested in a particular asset. In this case, Bitcoin, since it's a volatile asset, it's a good warning sign for him.

I don't know why you are saying that you would sit on the street and make sure you invest the amount you are comfortable with losing. It's good that you recognized his "investing all of his wealth"; you should still know that it's up to him.

Yes because it's not wise to put all your eggs in one basket. As I've said before, regardless how good the investment and profitable it seems, still, it is not wise to go all in since we don't know what lies ahead that can affect our investment negatively. The reason why diversifying is better to minimize the risk of losing all your money in just one investment that you thought can give you huge gains.

Anyway, how knowledgeable your grandfather about Bitcoin and who introduced it to him? Because he seems confident that Bitcoin has a good future (certainly we're all hoping for that). But we don't have crystal ball to see what's going to happen as time goes by.

If your grandfather built his wealth from the ground up, I think he knows full well that investing everything in one single asset is a no go. It's good that you try and educate him as much as you can while he's still around, and while bitcoin might be a good investment it still isn't enough to put all of what you have into it just because it's trusted well enough by a lot of people.

Oftentimes, the old generation teaches us things that we did not know. This time it's different, but it's okay.

First I read all your stories and I realized that you explained your grandfather about investing. Maybe your grandfather expressed interest in investing in your words. But if your grandfather expresses interest to invest accepting profit and loss then you can invest. Since investment involves taking your own risk, you can invest as your grandfather has agreed to take the risk. But quite a while back was a more suitable time to invest. There is still a good time to invest. You can sell your grandfather's property and invest some money in Bitcoin. But of course I advise you to keep your wallet very safe after investing.

You have given a reliable advice to your grandfather. Actually there are lots of investors deserve investing in Bitcoin as a money making scheme. But is it really so? Those who have invested in Bitcoin are well aware of its situation. In this platform there will have various suggestions for investment. But I would like to mention two things, first of all, invest in Bitcoin with the money which is not need to lead your daily life, and lastly, invest in Bitcoin only for the long term. I think those who invest based on these two words will succeed. Many of us invest but need to sell those bitcoins at a loss to cash out. Those who have such situation should not invest in Bitcoin.

Now the most important thing is that you ensure maximum security on his computer. Because I am sure that there is an impressive amount, which means that we need: a powerful antivirus, a flash drive for storing passwords, a licensed verified version of programs and applications.

You have given him a best advise of His entire life and maybe what are those funds he has are from His retirement benefits?
then that is better to be put in bitcoin as he needs to support his living for longer time .
and also what we need to be ready is to control Himself from losing his beliefs as it will take years before tasting the fruit of his investments.
and also try to lure Him from ranking altcoins like ethereum and binance for same long term holding .

That's all is good, but the best thing he can do for his grandfather is to teach him how to detect scammers. It doesn't care if you have the best security if you are just sending your data or money to scammers.

Tension!
Tension!!
Tension!!!
It is not possible to say what the bitcoin market will look like in the coming days. If the market goes well and the bitcoin invested by your grandfather bring profit to your grandfather then it will be a reason to be happy for your grandfather. And if your grandpa's investment in bitcoin you advised him to make is a loss instead of a profit, it is doubtful whether your grandpa will be able to overcome the grief of the loss. If your grandpa dies due to over-tension then you will be the number one culprit and your grandpa will remain at risk of death for your advice.

That's right. Golden rule is to invest in different thing and never put all on one coin

My thoughts as well. Felt the old man would be about enjoying what he has amassed to himself in course of his lifetime but, it seems his going to have his heart beating to the volatile nature of the bitcoin market. Perhaps the doctors needs to be kept on alert to nurse him back to health from HBP when it comes kicking.

Maybe his grandpa isn't that old as I like to start but again, it's a useful advice which I felt for someone that has acquired wealth to have already known. That his got to diversify other than having all his amassed wealth in a basket.

investing in bitcoin there are losses and there are profits, so we have to invest with idle money and with a note that we must also be prepared to lose this money.

so your advice to your grandfather is very, very good. And when buying, don't forget to use the DCA system, with the aim of getting different prices.

Yes, you did the right thing OP. I believe our first role is to plant the seeds into their mind that there is indeed bitcoin that was created to help the whole humankind about its existence and to help the people against the overwhelming inflation that is increasing as much as almost twice annually.

But give your grandfather some advice again that he shouldn't put all his wealth into bitcoin because even if the profits is good, it's still risky to do it because its future is still not guaranteed although that chances are just slim. Risk are risks and it is still better to be safe than sorry. I'm afraid that someday in the future, when everything will fail, he will blame you because you introduced him about the existence of bitcoin.

Now you have a responsibility to keep him safe. The elderly are not generally technically well-versed. A lot of them are probably using old, outdated versions of windows...with who knows how many underlying infections just waiting to syphon any value they possibly can.

You must absolutely help him increase his cybersecurity and ensure that his funds are safe...OR, make sure he is storing his coins offline using cold storage/paper wallet.

Protect his wealth. Don't let it get in the wrong hands.

I hope you didn't ask him to invest in altcoins instead investing all his money in Bitcoin. That will be a wrong advise since Bitcoin controls the whole market and if Bitcoin was having a bad market so will other altcoins. I don't see anything wrong with investing all your investment savings in Bitcoin provided you have other funds for your day to day activities.
The only time putting all your money into Bitcoin becomes wrong is when you you don't have any other money left and this will put you under pressure whenever the market is dumping as you will want to sell your investment and usually this is done in loss. Apart from this scenario, evey other time you can invest all you money Into Bitcoin.
When investing in this way, it should be a long term investment as investing short team aren't profitable. Bitcoin is the future of money and what's better than investing in the future today.

Bitcoin investing has no age limit, as long as your grandfather still wants to invest there is nothing wrong here. But you need to tell your grandfather about the risks of investing in bitcoin, aside from price fluctuations. You should also tell him about risks, such as vulnerabilities when storing online wallets, as well as storing on centralized exchanges.

You gave your grandfather a good advice, although I'd be careful with this because people often do dumb things and then try to blame it on someone else.

Your grandfather could soon get some profit from his investment and put all his savings into it and then if he loses something by being careless with his private keys he's going to blame you.
I would want to supervise the process and see how his security looks and how much he's investing. Don't leave him alone with this because you're the one that started the process so see it through until the end.

Think of a situation where your grandpa wants to cash out and chooses a scam exchange or sends coins to a wrong address and loses everything. He's going to blame you and crypto for being a scam.

Since his grandfather's age is not mentioned, his grandfather's age would probably be over 60 years old. As such, investing in Bitcoin at this age involves a lot of risk at times. As he may not have the risk tolerance. Also investing all of OP's grandfather's physical assets in Bitcoin is too risky. But an important point is that his grandfather's assets should not be invested in only one coin. Moreover, another important thing is that his grandfather's invested bitcoins must be hold in a hardware wallet.

I think old people are very hard to convince in any of worldly issues. If I were you I would do same buddy. For example when my close friends asked me about Bitcoin I told them to buy but with money you saved. One of my friends sold his car for Bitcoin. He made huge mistake in my opinion. I didn't talk about Bitcoin with him anymore. He wasn't even old. But people are like that. Its best to teach them how to invest in Bitcoin in better ways. Like without hurting your wallet or family.

Advising on investing in bitcoin is a good idea but it takes a little longer to convince older people because they have less knowledge about bitcoin and hence the risk is higher. Before investing you need to know about bitcoin and use good wallet so that the hacker does not lose the bitcoin after one and a half cryptocurrency is the future of the world's economy. Investing in this field is definitely a smart thing to do several things should be considered before investing.

I was looking for getting investment advices from people and I applied some. Not surprisingly, I lost money. Since then, I never get any recommendations blindly, I always make my own research and make a decision on my own. The reason was not that I lost money, but I lost money based on someone else's advice. When I lose, I lose. I learn from my mistakes and move on. It's at least my decision and I cannot blame anyone else. But when you fail with other people's thoughts, its like it eats you inside.

Making an investment basket is always a good idea. However, I personally wouldn't put a penny on risky investments if I were a grandfather. Risk fits youth. You can always comeback if you fail when you are young. After retirement, people should use their money wisely and only invest in low-risk investments such as bonds, and adjust to a life they managed to built for all those years.

For someone that worked so hard to acquire that wealth while they were still youthful, I don't believe they can give up all their work and money for some unknown tech asset as an investment!
Honest this is too good to be true, did someone force him into getting into the crypto space or this was a personal decision??

Sound like grandpa might have been in the finance industry during his working days, but credit to you for advising him well on what to expect with crypto investments.

You are a good man  8)

Yep the advice given couldn't get any better than that :D

Agreed, for this reason, I actually think that to some extent if they suffer some kind of loss of investment, with a good lawyer they could get back what they lost because they lack the capacity to make a sound decision.

it is good that you explain to your father the character of Bitcoin and how the market moves. Some persons do not understand the market very well that is why they keep making mistakes and doing the wrong thing. They thought Bitcoin is everything and they don't need fiat to make savings. It is good to keep our food in different basket.

The advice you said to your grandfather was correct, you also explained that bitcoin also has risks. Investing in bitcoin 50% of your grandfather's wealth and 50% in the form of fiat or in the form of land and buildings, would be better. Putting eggs in one basket may not be good, there must be some backup for bitcoin when the price starts to drop to a price we don't predict. and tell your grandfather that bitcoin is a long-term investment that will provide more benefits and can be passed on to their children and grandchildren.

I wish I also could convince my grandparents to invest in bitcoin, but my grandfather doesn't understand it and my grandmother is fearful about investing. I think it's not only about they belonging to an older generation, but also about the culture and tradition they are used to which don't allow them to open their minds to innovations. In other places, especially first world countries, we know there are elders who have already adopted bitcoin, so age definitely isn't an inhibitor factor at all.

Well, every investment has a risk, what you can do for your grandfather is to try to reduce them as much as possible, whether on the subject of bitcoin or any other type of investment.

As other people have already mentioned in this topic, never invest more than you can afford to lose, never invest money you don't have, or take a risk of life, personal, financial for that, common sense always, I always say that.

Smh at some of the replies that you’ve gotten on this thread. First off, a lot of people in this thread aren’t very financially savvy, which is very easy to see. As a licensed financial advisor, I would absolutely not have placed all his wealth in bitcoin. Never put your eggs in the same basket, always diversify. As you noted bitcoin is volatile, so I would only invest in it what I'm willing to lose.

I would highly suggest he sell some of the bitcoin for some traditional asset like stocks and bonds.

maybe he experienced investing but to the extend of being a total investors that can risk or trust bitcoin that much , and the way i see it? he is an altcoin supporter more than bitcoin.
but giving this advise to his grandfa seems to be over thinking , he should let his old man learn the market first at least read here in forum and make research than just investing right away without complete knowledge , though this is safe to invest yet the time frame sometimes hinder people to make money.

The good thing you have done by not just telling the benefits of investing in Bitcoin but also the risks and advising your grandfather not to put all the money in one basket, but if your grandfather is rich enough to advise him to invest in bitcoin is not too important because buying Bitcoin will be better to hold it in a long period so it could be that your grandfather will not enjoy the investment but his descendants will enjoy it

I think it is easy to predict short term but the one that is hard is long term because unexpected events might happen. Before we refer someone to invest in Bitcoin, it's a must to tell the risk that entails with it so that they will now think twice if they will continue or not. If they will, they will know what to expect already and it will now be easy for them to accept things.

We all here experience what it takes to lose. It's hard at first but time heals so his grandpa can as well overcome his losses no matter how big it was. If his grandpa dies, Bitcoin isn't the one to be blame but if we are guilty then much better if won't introduce it to him at the first place. 

Difficult or not depends on how we can explain it to them. Must really explain in detail about bitcoin and how bitcoin can generate more profits in the long term. Using savings is quite risky, but if you have to use only half of it. Your friend probably didn't get the risk warning and panicked too much when the price dropped, so he sold it cheap. even though bitcoin is very good for long-term holding. It is better not to suggest any investment to other people, than you will be blamed. Let them come for themselves when you earn a lot from bitcoin.

Ordinary people won't be strong enough to face the price of bitcoin falling, usually they will panic and sell half of the price they bought and blame the one who gave the advice because it doesn't provide any profit even though it has been explained in detail but the minds of ordinary people will certainly keep thinking about the benefits not the risks.

It is clear from us that bitcoin is indeed good to hold for the long term, even for years, but will beginners be strong for it? I don't think they have much to learn from failure to try and keep trying. From that experience, it would be better if the advice was not given, but to provide a basic understanding and also about how bitcoin works.

What is the use of wealth if it cannot be used or enjoyed throughout his life, regardless of the wealth obtained from investing in bitcoin or elsewhere, even this wealth will make heirs fight over which will ultimately break blood brotherhood, very tragic isn't it?

But whatever it is, I really appreciate the advice he tried to convey to his grandfather, because it will create several opportunities to diversify investment decisions, the most important thing is that access to investment can be known by those who are in control. When something happens, it will not make him lose access because there are people who know the investment process.

@mr.corol Bitcoin is a coin suitable for investing. The mainstay of cryptocurrency is Bitcoin where very few people have experienced losses by investing. If someone's first investment in life is to invest in bitcoins like yours then there will be no chance of loss. But must invest for long term or trade with bitcoin updown. There is good Bitcoin future news that points to a Bitcoin halving around 2024 where Bitcoin is going to be at an all-time high. So investing in Bitcoin for long term is a perfect investment.

that is very good advice. too risky to invest all the assets he has into bitcoins without understanding the risks involved. I think, your grandfather is too optimistic about bitcoin, and that may be caused by several factors, such as the reference where he read or found information about bitcoin, or he got that information from crypto users who provide information about bitcoin, but only provide part of the information.
In any case, just suggest investing as necessary. even though the potential of bitcoin is truly enormous, and many people are very optimistic about it. however, keeping some definite assets for future use is also very important. But, I really appreciate your grandfather who is still updating about new investments, especially crypto.

You have given the right advice, that for someone who is old and he just needs to enjoy his old age, investing in Bitcoin as a whole would be risky. More ideal is for him to invest in the enjoyment of life such as medical benefits and dream places. Because if he invests everything in Bitcoin and when there are no heirs to manage it. But apart from that it all comes back to your grandfather's decision.

Bitcoin is certainly the best form of money and an investment and to benefits from bitcoin investment one need to build quality knowledge to understand the ups and downs of the BTC and also having the patience to wait for the long term, one can only lose or gain through the DCA, but if you keep holding your bitcoin if BTC values never decrease.

-bitcoin halving is no longer news, but a cycle that certainly happen any time bitcoin reaches that block sizes, and it is stated in the Bitcoin whitepaper, for all to see and when that will happen by calculating the current block size vs the halving block size.

I do agree that when you are going to make a substantial investment then it is better to let your investment speak for itself and you should be researching it well enough that you would know what you are putting your money into.

If you need to ask your grandchildren about investment advice, then you are not investing into something that you should, it would be a risky investment for sure. I would say only invest into things that you yourself personally can understand. I know that it is going to take a bit of a time for a grandfather to understand what crypto is all about, it is going to be hard to get down to that young age understanding, but if they can, that is when it would be valuable.

That's like gambling, how can you bet to a specific team and specific sport if you don't have that first-hand knowledge to know who got more chance in winning, I know that sometimes odds are tempting but that doesn't mean that they got more chances as there are also favorites by people and bookies. The same with investment, it is much better to know the field first before investing into it and I won't really advice that you will place your fate into somebody else's hand.

The awareness of bitcoin should be taught to everyone irrespective of their age, either the young or the old as long as they will give you a listening ear. I really appreciate your effort in teaching your grandfather about bitcoin,which he showed interest on investing.

You have done well to let him know that he shouldn't invest all his wealth in bitcoin due to its volatile nature. You should also let him know about how to keep his investment save and get a noncustodial wallet for him. I feel happy to see new investors in the cryptospace.

If he still pursue on his plan, I think you have done your part making him aware on the risks investing in bitcoin. So at least, you still have to be there for him guiding him knowing bitcoin investment is new for him. But tbh, I don’t see bitcoin investment is still appropriate for old ages as it would only cause them to panic and become stressful seeing their investments are not working in progress. Bitcoin has its high volatility, and anybody who is only used to see traditional investment will definitely struggle in making bitcoin investment works.

And you are sure that you are telling us a true story? I have no idea how much wealth your grandpa has and whether he is forced to invest because it is his only way out of some problem, I don't know. But an older person saying that he is going to put all his wealth into Bitcoin are the words of either someone who is in trouble because that wealth is by no means sufficient to cover future expenses or that person is not sane anymore for age related reasons or that person is this guy

https://i.imgur.com/WuWFPrD.png

and lied to you about being your grandpa, but in fact is not older than you.

I think your advice is perfect about the investment in Bitcoin. Because Bitcoin is highly volatile and it has profits and loses also. So investing all of your funds it's a good idea at all. Better you should do DCA ( Dollar Cost Avarge). That will be more profitable.