Bitcoin Forum

Once you enter the world of Bitcoin, you feel, as often said in the field, ‘like falling down the rabbit hole,’ that you may have heard in a thousand podcasts, etc… Once inside, depending on the paths you follow, it’s not uncommon to start captivated by the shitcoins and promises of easy money, but when you’ve been in it longer, you spend hours studying it, etc… it’s hard not to be captivated by the potential of Bitcoin, once you understand it, even though it is common to give some concessions, or just trust some parts (we all delegate our trust to certain parties, I assume that most people haven’t compiled the software of their wallet, and reviewed every line of code).

The thing is, once you’re at that point, you find yourself wanting to share this excitement or knowledge with those closest to you, not to inflate the value of your holdings (unless you’re a cousin of an Arab sheikh, they’re not going to move the price), but because you truly believe in its transformative power for their financial future (they will remember you in the midst of a bull market, but it won’t be the right time either). I have to say, that I manage my own funds, and I do not want anyone's parents to feel obliged to buy bitcoin. I have summarize in this post, the main points I would address to try to teach some friend or relative bitcoin.

I want to avoid in any case, that sensation of being a boring crypto bro evangelist, you can’t force anyone to move their money in one way or another, the goal is to transmit some of the knowledge , in a synthetic way, so that ideas start to take shape, and at least the people who read this start asking themselves questions, or at least question how the current system works.

From now on, you can skip the reading, and we can discuss of the best methods to teach your friends or relatives how to get into Bitcoin. If you want to know the points I used, feel free to read it  :)

These points are a summarized version of the points I have discussed with friends or relatives, some sort of "main guidelines" to approach the topic (I have summarized the original post, after the feedback you gave me):

0. What is Bitcoin?

Let’s break down Bitcoin in simple terms. Forget what you know about Bitcoin or blockchains, such as “it has no value,” “it is bad for the environment,” or “it is pure speculation.” We’ll start with the basics.

Bitcoin is the first cryptocurrency, essentially digital money that exists only on the internet. Unlike physical coins or bills, you store Bitcoin in a digital wallet on your computer or phone. It allows you to send and receive value globally, provided both parties have internet access and a Bitcoin wallet. Bitcoin is unique because it eliminates the need for a “middle man” in transactions. It’s not controlled by any government or bank but managed by a network of computers worldwide. This network, or public digital infrastructure, enables direct transfers of value without intermediaries.

This infrastructure is public because anyone can join the network. It isn’t owned or controlled by any single entity. The network's computers, called nodes, verify transactions. Running a node is affordable and can be done discreetly at home with a budget computer. We have several public infrastructures for information (the internet) and physical items (roads, bridges). Previously, cash was our public infrastructure for value transfer, but it only worked face-to-face. For remote payments, banks handled transactions. With Bitcoin, no middleman is needed. You can send and receive bitcoin with minimal fees.

Nodes are crucial in the Bitcoin network. They record every transaction ever made, maintaining a ledger of who sent what to whom. Each node has a copy of this global ledger. Special nodes, called miners, compete to add new “blocks” of transactions to the blockchain. Miners collect valid transactions, group them, and add them to the ledger. They are rewarded with new bitcoins and transaction fees for this work. When we mention “Bitcoin,” we refer to the entire protocol and network. When we say “bitcoin,” we mean the coins transferred within the network. Miners’ rewards halve approximately every four years in an event called "halving," reducing the new bitcoins generated.

In conclusion, Bitcoin allows you to send value anywhere in the world quickly and securely without intermediaries. This is made possible by nodes and miners who maintain and secure the network through a competitive process known as mining. The more miners that participate, the more secure the network becomes, preventing any single entity from controlling it or engaging in malicious activities.


0.1 What is the Bitcoin blockchain?


A blockchain is a “chain of blocks” where each block contains specific information and a link to the previous block, forming a chronological sequence. This structure ensures data integrity and security. Each block has two main components: the block header and the list of transactions. The block header includes the previous block’s hash, a nonce, and various metadata such as the timestamp and network difficulty. The list of transactions records the transfer of Bitcoin between addresses within that block.

How Does a Block Get Added to the Blockchain? To add a block to the blockchain, miners gather pending transactions from the mempool, a temporary storage area for transactions waiting to be included in a block. Miners prioritize transactions with higher fees and create a block by combining these transactions with the previous block’s hash, a nonce, and other metadata.

The miner then calculates the block's hash using the SHA-256 hash function, the miner puts all the data together (the transactions and block header information concatenated) and applies the hash function to it. This hash function is a mathematical function that produces a fixed-length output. When performing this "hash", the result must meet the network’s difficulty requirements, meaning it needs to start with a certain number of zeros. If the hash does not meet the difficulty, the miner changes the nonce and tries again (repeats the hash function). This trial-and-error process continues until a valid hash is found.

For example, if the previous block hash is abc123, the timestamp is 1637284650, the nonce is 0, and the transactions are Tx1, Tx2, Tx3, the miner concatenates this data and applies the SHA-256 hash function. If the resulting hash doesn't start with the required number of zeros, the miner increments the nonce and tries again until finding a valid hash.

Once a valid hash is found, the miner broadcasts the new block to the network. Other nodes independently verify the block’s validity by checking the transactions, ensuring the hash meets the difficulty requirements, and confirming the block follows all protocol rules. Once verified, the block is added to the blockchain, and the miner receives a reward, consisting of newly generated bitcoins and transaction fees.

The difficulty (number of zeros at the start of a hash) of finding a valid hash adjusts every 2016 blocks (about every two weeks) to ensure blocks are mined approximately every 10 minutes. If the last 2016 blocks were mined too quickly, the difficulty increases; if too slowly, the difficulty decreases.

In essence, a blockchain is a secure, decentralized ledger where each block contains a list of transactions. Miners use computational power to solve complex puzzles (find valid hashes), adding new blocks to the chain. This process, known as mining, ensures the integrity and security of the Bitcoin network. The difficulty of mining adjusts periodically to maintain a consistent block creation rate.


0.2 What is a bitcoin wallet?

You might have heard the term "bitcoin wallet" before. Let’s break down what it really means and why it's essential in the Bitcoin system. One common question newcomers have is, "Where are my bitcoins?" It's crucial to know that bitcoins aren't stored in a physical location. Instead, Bitcoin ownership is represented by cryptographic keys. When you have bitcoin in a wallet on your phone, you are accessing your bitcoin through that wallet, but the bitcoins themselves aren't "inside" the wallet. If you delete the wallet app but still have your cryptographic keys, you can access your bitcoin from any other device or wallet.

Private Key: Your bitcoin ownership is tied to a private key, which is essentially a very long number. This number is randomly generated and can be as large as 1.1579 x 10^77, a quantity greater than the number of atoms in the observable universe. Your private key’s security comes from its randomness. When you create a wallet, this private key is often converted into a set of words to make it easier to remember. Each word corresponds to a number, and these numbers together form your private key. This key is your secret and allows you to control your bitcoin. It's vital to keep your private key secure because anyone with access to it can manage your bitcoin holdings. Think of your private key as your bank password.

Public Key and Address: From your private key, a public key and a corresponding bitcoin address are derived. The public key is the cryptographic counterpart to your private key, while the bitcoin address is a user-friendly version of the public key. People can send bitcoin to your address, but they cannot control or withdraw your funds without your private key.

Wallets: To interact with your bitcoin, you use a digital wallet, which manages your private key and allows you to send and receive bitcoin. Wallets come in various forms (software, hardware, paper...)  Each type of wallet offers different levels of security and convenience.



0.3 Could the blockchain be hacked?

The Bitcoin blockchain is designed to be highly secure and resistant to hacking or manipulation. You might wonder if a miner can modify transactions inside a block and then mine it. This is not possible due to several security mechanisms in place.

Every Bitcoin transaction is digitally signed with the sender's private key. This digital signature ensures that the transaction is valid and authorized by the owner of the Bitcoin address from which the funds originate. Modifying the amount of bitcoins sent would require a new digital signature, which could only be generated by the owner of the original address. Each transaction in Bitcoin is associated with a unique hash calculated from the transaction data. Any change in the transaction data, such as the amount of bitcoins sent, results in a completely different hash. Even a small change would alter its hash and make it invalid.

Imagine a transaction where person A sends 0.1 bitcoin to person B. It's like a sealed envelope with a message inside that says, "Send 0.1 bitcoin from A to B," signed by A. Only A can open it and change its content. When a miner receives this envelope, they first verify A's signature to ensure the transaction is legitimate. If the signature is valid, the miner adds the transaction to the next block in the blockchain. A miner cannot create a block that doesn't comply with the network's difficulty requirements because such a block would be rejected by the majority of nodes in the network. When a miner creates a new block, it must adhere to the consensus rules of the network, including the difficulty target set by the network protocol. If a miner creates a block without meeting the required difficulty level, it would be considered invalid by the rest of the network.

If a miner were to create an invalid block, it could potentially lead to a temporary fork in the blockchain. However, since the majority of nodes adhere to the consensus rules and reject invalid blocks, this fork would not be accepted by the broader network. Instead, it would be considered a temporary branch that will eventually be abandoned as nodes continue to build on the valid chain.

0.4 Why does Bitcoin have value, isn't it just hot air?

This is a common question about Bitcoin: "What gives it value? Isn't it just speculation?" Here's a simplified explanation:

Bitcoin's value comes from its underlying technology and decentralized nature. It operates on a global public network of nodes that facilitate transactions without intermediaries. This decentralization ensures security and prevents control by any single entity, enhancing its reliability as a store of value. Bitcoin's decentralized network makes it resistant to manipulation and centralized control by institutions or governments, increasing its trustworthiness.

Unlike traditional assets, Bitcoin isn't someone else's debt, reducing counterparty risk. It can serve as a medium of exchange, store of value, and even a unit of account. In countries with severe currency depreciation, Bitcoin offers a viable solution. Over time, Bitcoin has gained acceptance and recognition from institutions and the general public. This adoption by companies, investors, and individual users has bolstered its legitimacy and value.

Bitcoin allows easy monitoring and verification of the amounts held in specific wallets. For instance, if a wallet belongs to a bank or government, anyone can verify its balance, providing a transparency advantage over gold and central bank reserves. Bitcoin's digital nature allows for easy verification and real-time auditability, providing greater transparency compared to physical gold storage, which is often subject to doubts and rumors (like painted gold bars, or empty vaults). It's also highly divisible, easily transferable, and secure against counterfeiting.

While Bitcoin can't be physically touched and lacks tangible or governmental backing, these characteristics don't necessarily diminish its value. Critics argue this intangibility makes it less reliable as money or a store of value in the long run. However, the existence of a transparent and decentralized network could solve many issues related to trust between countries and institutional transparency.

1. Bitcoin to protect yourself against Inflation?

Fiat currencies are prone to inflation, a fact well known to those who lived in the Western world before the 2000s (and even more in the Global South). However, since the 2008 economic crisis, people have come to accept fiat money (dollars/euros) as a stable base unit. This perception was reinforced by low inflation, even deflation, during the 2010s. Yet, in the past 2-3 years, awareness of currency depreciation has grown, evident in the soaring prices of houses compared to decades ago. Despite this, many people don't fully understand the root cause, often blaming greedy businessmen or speculators.

The real issue lies in the expansive monetary policies and unchecked money printing by central banks, leading to the constant erosion of purchasing power. However, people tend to recognize this only when it becomes extreme and prolonged, as seen in Argentina. The turning point in this monetary narrative was in 1971 when President Nixon ended the dollar-gold convertibility, effectively halting the gold standard. Surprisingly, some still believe their money is backed by gold, but today's money is fundamentally debt-based...

Before 1971, currencies like the dollar were backed by gold, providing stability and confidence in the financial system. But in August 1971, Nixon announced the end of the Bretton Woods system, shifting to a fiat currency system. This new system relies solely on trust in the issuing government, often humorously referred to as being backed by "petrodollars or aircraft carriers."

This shift allowed governments to print money almost limitlessly, leading to significant inflation. Money transformed from a representation of tangible value to debt money, where most currency is created through bank debt, loans, and credits. This has fueled a cycle of increasing public and private debt and economic booms and busts. In contrast, Bitcoin offers a limited supply of 21 million coins, ensuring scarcity and protecting against inflation. This makes Bitcoin an attractive option for preserving value over time, offering an alternative to the depreciating value of fiat currencies.


1.1 How do we know there are only 21 million bitcoins, and if they decide to print more tomorrow, or change the code?

The total amount of Bitcoin that can be created is capped at 21 million units, a limit set by the Bitcoin protocol and encoded in its software from the outset. This cap is approached asymptotically, meaning there's no explicit variable enforcing it. The 21 million limit is thought to have been chosen to create a scarce, gold-like asset to preserve long-term value, although the exact reasoning of Bitcoin's creator, Satoshi Nakamoto, remains unknown.

While it is theoretically possible to alter this limit—since Bitcoin is an open-source protocol—such a change would require convincing the majority of the network's hundreds of thousands of globally distributed nodes to accept it. This consensus is highly unlikely. If a change were attempted without broad agreement, it would result in a Bitcoin fork, creating a parallel chain that would likely hold little to no interest for the wider community. Bitcoin's decentralized nature, with nodes and miners spread worldwide, makes significant protocol changes challenging. Any modification, including changing the 21 million cap, would need to be accepted by the majority of the network participants. Given the strong support for Bitcoin's built-in scarcity and the difficulty of achieving widespread consensus, altering the 21 million limit is extremely improbable.

2. Financial Sovereignty and Confiscation Resistance

The concept of financial sovereignty is redefined in the context of Bitcoin due to its unique properties. Traditionally, asset custody and transaction execution are controlled by intermediaries such as banks or governments. With Bitcoin, individuals gain unprecedented control over their financial assets. You can create a Bitcoin wallet and send or receive funds with transactions confirmed by the network's consensus, eliminating the need for a central authority. This allows individuals to act as their own banks, storing, sending, and receiving funds autonomously without needing third-party permission.

This financial autonomy is especially significant in regions with low trust in traditional banking systems or where capital restrictions exist. Bitcoin provides a secure and accessible alternative for storing and transferring value, offering protection against asset confiscation by authoritarian governments or irresponsible monetary policies. Even in the Western world, where banking issues seem less pressing, the potential for future problems underscores the need for preemptive action. Moreover, Bitcoin's global accessibility and lack of geographic restrictions promote financial inclusion and democratize access to financial services, which can be particularly impactful in regions like Africa, where banking is less accessible.

Bitcoin's resistance to confiscation by third parties is another crucial feature. Financial assets stored in bank accounts or with intermediaries are at risk of confiscation by governments, financial institutions, or creditors. In contrast, Bitcoin users control their funds and the private keys needed to access them. If you self-custody your keys, no one needs to know about your wallet, your control over the keys, or your ownership of the funds.

Bitcoin transactions are recorded immutably on the blockchain and are irreversible once confirmed, meaning they cannot be altered or reversed by third parties. The high cost of mining a block and the exponential cost of undoing transactions in past blocks ensure their immutability, usually considered secure after six confirmations. In summary, Bitcoin offers a secure, confiscation-resistant way to store and transfer value, protecting assets from unwanted external interference.

2.1 What if countries ban it?

A common criticism is that Bitcoin will be banned by nation-states. Critics argue that if several countries banned Bitcoin, it could discourage its adoption and use in those regions. Legal restrictions on owning, trading, or using Bitcoin could significantly reduce its utility and liquidity.

Historically, such bans are possible, as demonstrated by the Emergency Banking Act of 1933 in the U.S., which prohibited private ownership of gold. However, Bitcoin differs because it allows for anonymous wallet creation and transactions within a circular economy, making it difficult to track and enforce bans. While governments will try to identify and regulate wallets and transactions, Bitcoin's decentralized nature makes it challenging to control comprehensively. Banning Bitcoin poses significant technical challenges due to its decentralized and censorship-resistant nature. Even if governments block access to exchanges and related websites, users can still access the network using privacy technologies and censorship evasion tools. A ban in some countries wouldn’t impact the global Bitcoin network, which operates without a central point of control.

Game theory provides insight into the dynamics between Bitcoin and countries considering prohibition or adoption. Some countries may see Bitcoin as a strategic opportunity to enhance their global economic position. Pro-Bitcoin countries could attract investments in blockchain technology and fintech, foster financial innovation, and lead the digital economy, as seen in the Middle East and El Salvador. Conversely, countries considering banning Bitcoin may do so to maintain financial stability, combat money laundering and terrorism financing, or protect traditional financial systems. However, this could lead to the flight of talent and capital to more Bitcoin-friendly jurisdictions, like Dubai.

In game theory terms, the interaction between Bitcoin and countries is a non-zero-sum game. Countries adopting pro-Bitcoin policies can gain competitive advantages and economic opportunities, while those banning it may face additional economic challenges. Ultimately, the balance between Bitcoin adoption and prohibition will depend on each country's strategies and broader geopolitical dynamics. However, there are no strong incentives for a global ban, and it may be wise to own some Bitcoin as a hedge against potential economic instability.

3. Mining, the Solution to the World’s Energy

Mainstream opinion often views Bitcoin mining as highly energy-consuming and polluting. However, the reality is quite different. Bitcoin mining offers several advantages for balancing energy consumption and optimizing energy use.

Bitcoin mining can stabilize energy consumption by providing a constant demand for electricity, as the mining computers continuously calculate hashes. This activity can absorb excess energy during times of low demand, such as at night or when renewable energy sources generate more power than needed. In places like Texas, miners help balance the power grid by turning on and off based on demand.

Additionally, cryptocurrency mining acts as a buyer of last resort for surplus energy, especially in regions with abundant but underutilized renewable energy. This prevents energy waste and provides energy producers with an additional market, enhancing resource utilization. In areas of oil and gas extraction, associated natural gas (flare gas) is often burned due to transportation constraints. Bitcoin mining can use this gas to generate electricity for mining operations, turning a waste product into a valuable resource.

In summary, Bitcoin mining helps avoid energy waste by using surplus or otherwise wasted energy. By leveraging renewable energy, surplus energy, and underutilized resources, Bitcoin mining promotes greater energy efficiency and resource utilization. It ensures continuous demand, making energy projects more viable and installations profitable in less time. Bitcoin mining is profitable when energy costs are very low, around 4 cents per kWh, thus optimizing the system and reducing waste without taking energy away from the population.


4. Are we still early?

Some people think the Bitcoin train has already left the station. While it was more advantageous to get into Bitcoin years ago, widespread adoption is still far off. As governments and institutions secure their shares, it's a good time for individuals to secure theirs too. It's not too late to buy Bitcoin; it remains an emerging technology with significant long-term growth potential. Despite past price fluctuations, its adoption and acceptance are expanding worldwide. Bitcoin's scarcity, decentralized nature, and cryptographic security make it attractive as a store of value and a digital medium of exchange.

There's not enough Bitcoin for everyone. Each Bitcoin is divisible into 100 million satoshis, its smallest unit. If Bitcoin were distributed evenly among the world's 6 billion adults, each person would get around 350,000 satoshis. This is hypothetical since the actual distribution is far from equitable, with some people holding thousands of Bitcoins and many lost forever. A substantial amount might be around 100,000 satoshis per person.

Transaction fees, though not extremely high, could pose a challenge if Bitcoin's adoption becomes widespread. Custodial solutions, like Bitcoin banks, might become necessary, holding users' Bitcoins and managing transactions on other layers, like Lightning or Liquid. This could centralize Bitcoin holdings with institutions, banks, and governments. Currently, individuals can still hold Bitcoin under their own custody, a privilege that might not be possible in the future.

Rumors suggest a "Bitcoin gold rush era" started in January 2024, lasting until around November 2034. By 2035, 99% of all Bitcoins will be mined, marking the onset of the 'growth phase.' With 93.5% of the total 21 million Bitcoins already mined, around 6.5% remain to be mined in the next decade. The opportunity to own Bitcoin is still there, but it's narrowing every day.


4.1 mySpace vs. Facebook

Another common argument against Bitcoin is the "MySpace vs. Facebook" analogy. Critics suggest that, like MySpace was overtaken by Facebook, a better cryptocurrency could eventually replace Bitcoin. We believe this analogy is flawed for several reasons.

Firstly, Bitcoin is a pioneer in the cryptocurrency space, created in 2008, and has shown remarkable resilience and durability. It has faced and overcome many technical, regulatory, and competitive challenges, establishing itself as a reliable store of value and medium of exchange. Bitcoin's decentralized and spontaneous emergence means it lacks the centralized control and pre-mining incentives seen in many newer cryptocurrencies.

Secondly, despite being the first cryptocurrency, Bitcoin is continuously evolving. Innovations such as the Lightning Network, Taproot, and other layers like Liquid enhance transaction speed, privacy, scalability, and overall functionality. Bitcoin focuses on being robust and secure, rather than adding unnecessary complexities that could compromise its stability.

Bitcoin's decentralized network and strong cryptographic security make it the most secure and widely adopted cryptocurrency in the world. This high level of security and participation makes it resistant to censorship and manipulation. Other cryptocurrencies, like Ethereum, often depend on fiat money and proof-of-stake systems, which reintroduce centralization risks. Bitcoin's launch in 2009 was open and decentralized, with no pre-mining. In contrast, Ethereum's launch involved a token presale, leading to an initial supply of Ether distributed among early investors, resembling a form of pre-mining.

Bitcoin was designed as a decentralized digital currency and a peer-to-peer payment system, focusing on scarcity and resistance to censorship. Its simplicity is its strength, ensuring stability. Ethereum, designed for smart contracts and decentralized applications, emphasizes flexibility and programmability, but this complexity has led to issues like hacks and a chain split. We acknowledge that future cryptocurrencies may offer utility, but Bitcoin's unique genesis and the conditions of its creation are irreplicable. Given its widespread adoption and network effects, the "MySpace vs. Facebook" scenario seems unlikely for Bitcoin. While other cryptocurrencies may offer investment opportunities, Bitcoin's role as a digital commodity and a secure store of value is unmatched.

5. Governments are averse to unpopular decisions

Another reason to buy Bitcoin lies in the systemic incentives that push its price higher. The only way Bitcoin's price would decrease is if governments and politicians started acting in the citizens' best interests. If you doubt this will happen, as we do, it reinforces the bullish case for Bitcoin.

In our debt-based monetary system, countries are increasingly indebted. To manage this debt, governments often "bleed" the population, with inflation being the preferred method (which also pushes Bitcoin higher). Governments prefer inflation over raising taxes for several reasons. Raising taxes is unpopular and can lead to voter backlash. Inflation, however, is less visible and more abstract, allowing politicians to avoid direct responsibility and negative political repercussions.

Inflation helps reduce the government's debt burden in real terms. As inflation rises, the real value of debt decreases, and government tax revenues increase nominally, benefiting indebted governments. Raising taxes, in contrast, can disincentivize investment and economic activity, and generate taxpayer resentment. While inflation erodes fiat currency purchasing power, causes regressive wealth redistribution, and creates economic uncertainty, the frequent changes in government lead to a lack of long-term accountability in managing inflation and other economic policies. Every few years, the problem becomes the next administration’s responsibility, edging us closer to collapse.

Bitcoin can serve as a lifeboat. You don’t need to be fully invested in it, but owning some can be less risky than owning none, providing a hedge against systemic economic failures.

6. The real Bitcoin risks...

The Bitcoin blockchain is designed to be highly secure and resistant to hacking or manipulation, but it's not perfect. While the blockchain itself has never been hacked, there are potential vulnerabilities in the broader Bitcoin ecosystem. Here are some real risks and their likelihood of materializing:

51% Attack: This occurs when a single entity controls more than 50% of the Bitcoin network's computational power, potentially manipulating transactions, double-spending coins, or preventing new transactions. Although theoretically possible, achieving a 51% attack requires immense computational power and resources, making it highly impractical and costly.

Mining Pool Centralization: Concentration of mining power in a few large pools could lead to centralization issues. Mining pools combine resources from multiple miners to increase the chances of solving blocks collectively, offering more consistent rewards than solo mining. However, if a small number of pools control a majority of the hash rate, they could collude to manipulate transactions. The Bitcoin community actively monitors and works to maintain a decentralized mining ecosystem, with initiatives like Ocean Pool addressing transparency and centralization issues.

Software Bugs or Exploits:Like any complex software, the Bitcoin protocol may contain bugs or vulnerabilities. However, Bitcoin's open-source nature allows for peer review and continuous code improvement, promptly addressing potential security issues. Changes to the Bitcoin code undergo a rigorous process, often taking years to implement, ensuring thorough vetting and testing to maintain network security and stability.

Hard Forks: Contentious issues within the community can lead to hard forks, resulting in two separate blockchains. Bitcoin holders before a fork retain both the original Bitcoin (BTC) and the new forked cryptocurrency. This situation presents an opportunity for investors, as they maintain exposure to the Bitcoin ecosystem without additional risk. The Bitcoin Cash (BCH) fork in 2017, following a debate over block size limits and scalability, is a notable example. Holders of Bitcoin at the time received an equivalent amount of Bitcoin Cash, doubling their cryptocurrency holdings. However, Bitcoin Cash's adoption and value have been inconsistent compared to Bitcoin, with its market capitalization on a downward trend for years.

Despite these theoretical risks, the Bitcoin network has proven highly resilient and secure over its more than a decade of existence. Its decentralized nature and cryptographic security measures make it one of the most secure systems for transferring and storing value in the digital realm.


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Those are the main points I have used over time to "orange-pill" my friends and relatives, we can discuss if you find them useful, or if you have any other ones.

I have compiled them, and created a free PDF so I can gift it to my friends, I have called it "How to get you to understand Bitcoin in less than 1 hour"

How do you want your mom and dad to understand all these wall of text that you wrote. It will be boring to them and that alone can discourage anyone from listening to you the second time. You must not convince or force anyone to buy bitcoin, so that you will not be held responsible for their actions, when the price of bitcoin goes south or if anything happen to their bitcoin investment.

Just tell whoever that you want to introduce to bitcoin, the basic concept of bitcoin that it is worth investing in bitcoin as an investment for a long time or to use it as their savings because it is an hedge against inflation, instead of keeping their savings in banks that will depreciate overtime. They should also use the amount of money that they can afford to lose. Whoever is interested will make research and come back to you showing interest, then you can throw more light on bitcoin the second time.

Op, your text is so long that it'll discourage people from reading it and taking part in a meaningful discussion, You should at least add a TL;DR for this.
If I got it right, TL;DR: Even when you're excited about Bitcoin, those close to you might not care, so if you want to convince them to invest, you should explain what Bitcoin is, what gives it value (decentralization), fixed supply as a hedge against inflation, self-custody of coins, mining as a buyer of unused energy surplus, and that it's not too late to invest.

Honestly, I don't know anyone inquisitive enough to listen to all that information about Bitcoin, especially if they aren't really interested in investing. I think that, overall, it's not a good practice to convince others to invest in certain things. If you want your relatives to get into Bitcoin, you can simply gift them a small amount of it, which might encourage them to learn more.

You have to know your parents to be able to pull this off because if they're a close minded kind of people that don't easily embrace new technology then you're basically selling water to a fish or air to a bird. Make sure that they want to and they've got the curiosity to invest in bitcoin, they don't like the idea that their retirement money is going to go down the drain suddenly, remember that bitcoin is a volatile asset and you don't want them to feel the shock without a warning because once they get their first bear market or price dump, they're going to be really susceptible to panic and I don't think that you'd want that for them plus you're going to be getting all the blame if they decide that it's bad for them. Don't explain the technical side to them especially if they don't have a tech background, the best approach for them is to teach them the most basic way that you can teach bitcoin, think of explaining bitcoin to children.

While you highlight all the good of bitcoins when invested in, you need not spare any detail about the risk associated with it. For example, some of the people who were introduced to bitcoins just before the halving, and were not told about the potential for investments to dip as well are very disappointed now because they were not properly told.
Tell your dad and mum that bitcoins can go down as it is expected to go up, so that their blood pressure do not rise if after they invest and bitcoins start performing badly. You know they are old and can have health challenges making them prone to cardiac arrest.

 :'( lol I hope they have time to read through such long text. Op, you should have tried to give us little details of what your had in mind and not such long Epistles. Most members might not be interested in reading and so your thread will have less engagement from the forum.

To answer your question though, if you want your parents to invest in Bitcoin then you have to be read to make them understand what and why they need to put their money in an investment that carrys risk and volatile. Also you will have to explain to them how possible they can make profits and be relax when the market is experiencing a dip. Well for me I think it's going to be a long task if your parents are not the tech types. But just give it a try mate. Good luck.

thick walls but the point is I understand, and in my opinion there is no need to invite or force them to buy Bitcoin because what parents need to do is prepare pension security so they can pay for health insurance in hospitals and allowances so they can go on holiday to enjoy their old age. Investing is a risky thing, especially in Bitcoin so I don't recommend them putting money into it. With Bitcoin's volatility, my parents might be stressed looking at it, so the priority is preparation to enjoy old age with retirement funds.

Parents can trust you just because you are their child and they trust you, but this should not be the case when it comes to money, they must trust the asset in which they are going to invest money, and with Bitcoin this is possible, they just need to understand how things work.

My parents still don’t want to understand what Bitcoin is, but they know that I buy some Bitcoin when I manage to put aside some savings. I can’t call my investment significant, I spend a lot on rent and have other expenses, but I have been buying Bitcoin for some time and there is already a profit. I probably won’t sell, I’ll hold it until I collect more, maybe by then the price will increase even more.

You can give information to your father and mother but you cannot impose your wishes on them. The decision to invest will be up to them and if they are not yet interested in investing in Bitcoin, you don't need to force them. You can just keep approaching them and show them how much Bitcoin profit you have made. But again, if they are still not interested, there is nothing you can do.

That's also what I do to people near me where I only provide information about Bitcoin. It is up to them if they want to invest in Bitcoin or not.

Recommendations of any investment assets are always risky, especially when dealing with family members. This risk is amplified with cryptocurrencies, considering that the majority of people don't understand that you can easily lose 80% of the value within a single bear market. And guess who gets the blame?

If you want an advice on how to get your parents or any elderly to invest in bitcoin I would say to not show them what you just wrote. It's long and could and be difficult to understand. Your parents are old (assuming you are not 10 years old or something) so they might not easily understand these kind of things anymore so it is better if you basically dumb it down for them.

Anyway why do you need your parents to invest on it? Just invest on it yourself and then show them the advantages and let them decide whether they want to invest or not.

As bitcoin is a popular currency many people have little knowledge about bitcoin so giving parents good advice about bitcoin may prevent them from believing it. Most people fear losing money I think it's better to invest yourself than to advise parents. Elderly people will not easily understand the good side of this coin they can always think negatively. Use your own discretion to buy bitcoin.

It’s weird that someone whose profile consists of mostly short replies and comments is the same person that made this great wall of text. Hats off to everyone that manage to read the OP, I for sure cannot afford to put my eyes through that. It would have been better if you summarized the post, a more concise explanation would help if you really want people to discuss the topic.

All I can say about this post is "damn wow " just wow. I can bet that 90% of the people that will post a reply here on this post won't bother reading through it. The first school of thought is how do you expect parents to be able to read through this kind of bulky article just to convince them into making crypto investments.
Convincing or forcing people into crypto investments usually ends up a mess with them running into huge loss with altcoins and possibly huge loss also due to scam in the case of Bitcoin.

Most of the time people convinced into making Bitcoin investments are unable to properly understand how to secure their coins and at such they can easily be hacked or scamed.

Maybe start by telling them about the decentralisation & security features of Bitcoin explaining its potential to protect against inflation & diversify their investment portfolio. Explain the increasing acceptance of Bitcoin by major institutions & highlight its potential for long term growth. Try to address their concerns about the volatility & complexity of Bitcoin by providing education & resources to help them understand & navigate the cryptocurrency market. Think about emphasising the importance of starting with a small investment & go from there.

Such a lengthy post for a simple discussion. I'm not sure if my mom/dad will invest on Bitcoin if they read this wall of post from you that explains too broad for a non bitcoiner will obviously too lazy to read further.

I have a mom/dad that doesn’t believe on new technology investment since they preferred the traditional investment such as business and stocks. They are already close minded no matter how hard I shill Bitcoin with them using my profit. I believe you can only convince your parents to invest if they don’t have background on traditional investments since they usually stick to their old method that is working for them rather than venture out on risky asset with their age.

I could just imagine a person explaining this whole blocks of texts to their parents and as soon as he starts explaining, the parents would quickly lose interest due to the technicalities of cryptocurrencies.

Remember that a person must explain BTC like they are five (5) years old- use simple terms and apply metaphors in order to explain technical and complex information. As soon as they understand the opportunity that it hides, then they may be inclined to invest at some point. But be reminded that you must also keep your expectations low as some parents are very traditionalist- meaning they only invest and exert effort on things that they have experienced before.


I think it could also be of help if you can also use financial terms that can be applied to BTC for better understanding of its mechanics. Understanding cryptocurrencies can be a challenge to a beginner but if they are committed enough in learning it, then it can be done quickly.

Lastly, I would also suggest to use third-party materials (e.g. YouTube lectures, etc.). since there are several videos that explain the blockchain in its simplest form.

Older people like our parents' generation tend to like safety, they don't have the habit of learning new and too complicated things. So I think explaining bitcoin to them will not be very effective in convincing them to invest. But I want to ask the OP and those who are planning to convince their parents to invest in bitcoin, what is the purpose of this?

If you want them to protect your assets from inflation then I believe they have made a choice and gold is certainly their top priority. An asset that has accompanied them throughout their lives and they will feel safer holding gold instead of bitcoin. Personally, I also advise parents to use gold to store assets. I don't want my parents to have to worry and be confused for the rest of their lives investing in bitcoin, a very volatile asset class.

By the way, OP, I'm also sorry that I, like some others, couldn't read everything you wrote  ;D ;D ;D.

Exactly, I personally don't bother reading that long I wanted it to be more specific that is why most commenters will stick to what the title is implying. 😅

For my parents situation I don't think they do have time to learn Bitcoin anymore since they are not tech savvy, they are weak to investments and Bitcoin for me is way too technical to them. Interests on it might be at 0% in my opinion as they will only prefer to stay home take care of their poultry,  piggery and farm. Even my brother which is much younger than me also has no idea about it and does not have an interest on it when I tried to convince him to learn about crypto so yeah not gonna work for them at all.

You are dragging it too much, bro. That's not how you explain Bitcoin to a beginner, they would start yawning or might even get up and go when you start explaining how mining works and how miners mine a block, etc. Those aren't necessary details for everyone to know, especially someone who is just getting started. You will scare them away with all this, so just keep it simple, and explain it in a way that would make them grasp the basic idea behind it.

You can't expect someone to invest in something they don't understand unless they are into technology and have an interest in such things because someone normal wouldn't be interested to hear all that when they are expecting you to make them understand what you are suggesting them for investment.

Hey what are you upto? If we drag it so much while inviting or explaining Bitcoin to newcomers then they will just get confused and run away, even I could read your entire post.

We need to keep it simple and upto the point wherein we need to explain them about the decentralised P2P and its benefits and how people who have invested into Bitcoin have been profited and we can use historic pricing data to explain them about it.

You already failed at that. If you cannot get us (people in a bitcoin forum) to read your topic, how can you get newbies and skeptics to listen to you. It took my time but I read the entire OP, I don’t think you should be talking  about the technical aspects of bitcoin to newbies as an introduction to Bitcoin. Neither do I think that newbies would be interested in the environmental impact of mining. When introducing Bitcoin to a beginner, stick to the simple stuff, use layman terms and do not try to impress people with your technical expertise on the subject. Most people are interested in bitcoin as an asset, you can hold their interest by talking about that.

True, a wall of text like that would be boring for them, they would pay you any amount just to stop talking about bitcoin  ;D

I think the best way to get the parents involved with cryptos is to be honest, and explain the monetary side of it, how it used to cost $400 in 2014 and right now it cost $63,000 if they don't see the benefit that way, then it will be hard to convince them.

Another way is to make them proceed on a blind investment. "Hey mom, do you believe in me? then give me $5k for an Investment", hold the coins for 5 years and you will be in a huge profit.

Even though I am never going to be teaching Mom or Dad about bitcoin because they are too old for it and they should probably be playing with their grandkids or something but lets assume that I am going to teach them. The first question I'll ask myself is what do they like? What is the best time to talk to them? When I find out what dad or mom likes, then I'll explain it to them using whatever they like, like a five-year old.

If they are retired, I'll use analogies from their career to explain bitcoin to them. I'll avoid the use of technical terms that will get them easily confused and lose interest. I'll go for simpler terms or use terms with similarity with their professional jargons. I'll also keep it very short. 15minutes should be enough to talk about bitcoin and gauge their interest. I'll leave rooms for questions. I won't talk about abstract bitcoin stuff but show them used cases of its application in every area of life.

I believe, even someone who own a lot Bitcoin and know the reason why they invest in this currency, didn't even know what you said above. :P

People don't have to understand the technical thing to invest in Bitcoin, they only need to understand basics computer security, compare Bitcoin with banks, fiat and other assets, that's. So, when they understand what actually Bitcoin is different and offer use cases that you can't find from other assets, it's enough.

Frankly I don't want to convince my parents to buy Bitcoin, they know what I'm doing, so if they're interested, they should open a discussion about it with me.

You are probably seeing this from the point of view of a young person who still has a lot of life in front of him. Parents of people who are in their 30s are probably retired at this point, or they are just a few years away from retirement so, probably, they already built their retirement plan years and years ago. If they are ok with their current and future situation, I wouldn't try to convince them at all costs to buy bitcoin: sure, they could increase their retirement funds but what if bitcoin goes down, let's say, 30%, will they be able to hold? Or is it easy for them to sell at loss and then blame you? Bringing your parents into bitcoin is a dangerous path.

We are not all the same in terms of perception, so actually presenting someone with an opportunity with bitcoin is really a double-edged sword, and it is not certain that it will completely guarantee the opportunity without risk. For me, it is not necessary to teach my parents about bitcoin, because most people in my family do not pay too much attention to technology or finance, so spreading knowledge does not happen overnight, and it's like trying to explain to a child about DNA replication.

So imo, let everything happen naturally, without necessarily convincing someone about the opportunity that we know about. Through that, prove that you have a good opportunity by showing the results you get and helping those around you in return.

You're not forcing them, you're convincing them to invest. Kind of like giving a pitch to get funding for your business like the show Shark Tank and Dragon's Den, that's what basically OP is trying to do in this scenario, preparing us for the scenarios by giving away the answer to the potential questions that your parents might ask, the only problem that I see in this cheat sheet is that they're all too technical to be fitted to the understanding of your parents, some of us if not all have parents that didn't grew up with a computer so they might get lost in the technical and computer jargons, and with the words that you're using for answers, it's probably a long-winded pitch which will only result with only one question being answered because they're going to ask for some of those terms that you've used, make the answers to those questions much more concise and you'd have a chance of success in your potential pitch to them.

The first thing that is needed to encourage not only parents but also someone you know about something is an example of walking in it yourself and succeeding in it. Because parents is quite old and convincing them to invest in a decentralized blockchain like cryptocurrency is relatively difficult. Especially my parents totally discourage them from taking any risks at this old age. Their patience is fairly thin and I may be able to deliver this long speech to them but those who listen to such a long speech will be fairly bored.

I can assure you that diving into the technical aspects of bitcoin will scare off not only your Dad (or Mom), but also most average people. These points should be stated very superficially.

Any currency (not just bitcoin) is given value by people’s faith in this asset.
Why does the dollar have value? It's just a piece of cut paper. There is a certain consensus in the world that the dollar has value, therefore, anywhere in the world people are ready to accept this currency. There is no actual, real, tangible value in any currency. Value is an abstract quantity and varies greatly depending on supply and demand.
The same goes for bitcoin, whose value is based on our belief in that value and that the value of the asset will increase over time. The dollar has the opposite effect - the value of a unit of this currency decreases over time.

This only works for long-term investing distances. Over short periods of time, this effect may be zero due to the high volatility of this asset.

my father bought bitcoin many years ago (of course I follow the whole process)
Honestly, I didn't insist on making this purchase but he decided independently.

It's my idea, but I believe that the best motivation to get someone to buy bitcoin is to make them understand the advantages of this technology. it is useless to talk about "earnings".
He could hit the wrong moment and have a sensational dump, or he could have a magical moment and suddenly make money.

This is one of the best method to pass wealth down the generations.
In a certain sense we are the first generation to use bitcoin.

I imagine that in many decades, it will be really difficult to acquire bitcoin directly except through financial instruments.
but it is not the same as having bitcoin directly ::)

Question is why? Why would you want them to invest in this technology? For sure you know the risk present in this industry and that you're aware of their interest with investments. It would be okay to share your knowldge with them but to get them invest into it, is another thing. Personally I am a bit against with encouraging people towards this industry. One reason is avoiding the blame if ever there will be something negative to happen; keep in mind that there are still countries who are against this technology which should not leave us be too confident of things. Extreme volatility is another thing that could incure loss to the investor; we have different levels of risk appetite. At the end of the day, most likely if their engagement will yield to loss, you'd be a part of it. Again, sharing is different from encouragement.

omg I did not expect that many answers  ???

I have added a TL:DR edit, additionally, I do not expect for you guys to read the whole text, that is a baseline for my pitch, I would rather like to know if you guys have had any success on similar cases, and what is the reaction.

For instance, I have had some kind of success when gifting bitcoin, some poeple got interested, and some didn't, but it is another strategy.

Also, I do not want them to invest for my own benefit, I already handle everything on my own, I just want my loved ones to be aware of the whole picture, different from the one shown in the mainstream media

Don't force them to invest in something they don't know about, if you want them to invest them teach them about it.
Your pitch is perfect, explaining about Bitcoin stuff and all.
For me I don't really mind if they invest or not it is their money after all they could do what they want with it, and same goes to me.
We could only give them idea on where to invest their money, but we couldn't force them to invest it even if we believe on it.

Older people are more focused on physical investment instead of digital investment so the parents will not easily give you money to put it into Bitcoin and also will not allow you to use your own money for such a purpose. Actually they believe that the things which we cannot see are not worthy and they cannot reach the Bitcoin source so they think that is not a good way of investment.

It is important to be noted to ask your parents about anything that you are investing in and if your parents do not allow you then don't do that because their knowledge is more than ours. If you still want to make Bitcoin investment then first convince your parents and then start investing.

One simple thing that many lack is the way to make use of summary initiative and concluded on a thing than wasting time explaining what could have been easily summarized, if you're interested in teaching or inviting your parent to bitcoin, then start from somewhere within your own little effort in explaining to them what you have understand about bitcoin, refer them to the forum and guide them through as well, it may take a little more time and efforts to achieve all these, but you will succeeded in doing what you targeted on.

LOL... This was not how Op convinced his parents to buy bitcoin. He is just teaching us now to convince our own parents his way. If I am a parent and you bring this to my table, I'll definitely bounce it. This is the reason why older people always complain that bitcoin is too tedious and technical to understand. It all depends on the premise it was introduced to them.

Meanwhile, I know of a friend who doesn't find it difficult to convince his parents (especially the dad to invest. She did it to his dad more than twice and it ended that the project was a scam and her dad lost money. Yet, her dad still believe for other financial advces.

Your explanation is very lengthy how can you give a newbie this Long explanation, well I don't like forcing someone to go into something that he don't even intend to do in the first place, except you seek for help from me, the reason why I always avoid that is because in terms of making investment risk is always involve so I don't want a situation whereby someone will keep blaming me for his Lost, because not everyone that can bare the risk. However I think investment is all about choice, if you are willing to bare the risk alone, because not everyone that is ready to go into crypto investment, That is why we don't need to force anyone into crypto investment.

Me?
So sorry, but I think that I will never make it. Because I really understand my parents' condition so far. So it is very unlikely that they will invest in Bitcoin. yeah, no problem. Let them enjoy their old age more comfortably and calmly without thinking about Bitcoin assets with all their fluctuations. What they do is just to breathe in the fresh air of the village and carry out daily activities that they like. Yes, that's their wish and I really appreciate it.

However, I don't want to generalize all old rooms like that, because their conditions are definitely different. If you want to convince your parents to invest in Bitcoin, make sure you understand the conditions and financial readiness of your parents. Both your mom and dad will usually tend to follow their child's wishes, even though they are sometimes quite at odds with what they really want. For this reason, we also encourage them to get to know Bitcoin in order to invest in it. unless they are very close to technology and are no strangers to Bitcoin. Then they also understand what Bitcoin is like, its fluctuations and various things related to risks. Parents will usually be very careful about the risks they take, so make sure you have a very strong reason, which is not in the form of promises that are too high or too sweet.

It's not stressful but a little bit complicate when there's no evidence, show working is necessary. Persuading them to buy bitcoin ought to be very easy on our ends. We just need evidence and huge figures generated from the investment in bitcoin. For instance, showing your dad a car from the massive profits made from bitcoin, or even as far as getting a luxury home for yourself and dad knows you're extremely doing well, ofcourse he won't generate any doubt as he will hurrying concord to your suggestion of buying bitcoin.

I feel like I'm reading a whitepaper when I first learnt about bitcoin back in the day ;D,

Bitcoin does have advantages over other assets, among which are easy to carry, read fundamentals and witness with price evidence from history to date, but for parents and the uninitiated there will be doubts if using a softwhare wallet because it does not have a physical that can be stored or carried for a suggestion that the asset is real. although the function is the same, as the times develop, there are now various variants of harwhare wallets that can be purchased in the marketplace. When education about bitcoin has begun to grow, especially in terms of news if many are wealthy from storing bitcoin, of course the business spirit of parents will try it because even the smallest bitcoin investment can bring trust as long as they want to try. the problem is that there are too many fuds who think all are the same from vulnerability, but I don't think everyone is waiting for bitcoin. it is very easy to convince people, especially media such as Instagram, TikTok etc. now there is a lot of content that contains crypto curency, even if it is only for the sake of personal branding someone ;D

You've made a very good point here, when there's no evidence that the asset you're trying to convince people to invest in is not bringing you profits, that's if you can't show them a proof then your opinion would be pointless cause sometimes parents don't need too much advice from their kids concerning making investments but when you show them prove you're making profits from it, give the benefit of doubt that the invest won't go wrong with tangible reasons then the deal is done. I also want to say that the level of understanding or education matters too, if one's parents are not well educated or understand modern things very properly then it would be very tough to convince such parents, since a good number of them already feel it's a scam or ponzi scheme.

You are right the way the OP has structured the post here is not worth reading carefully. If the post is not shortened then I think no one will be able to read this post carefully. I myself could not bring myself to focus when I entered after reading the topic. Because it will not be possible for me to read such a big post carefully. So I would also suggest the OP to make the post more short so that everyone would be interested to read and give proper knowledge.

Has Dr. Frankenstein perfected the process he used to make the Frankenstein Monster? If he hasn't, I'm not even going to try it on my Dad or Mom, just to introduce them to Bitcoin.

I mean, without a guarantee of success, I wouldn't even be able to convince the authorities that they should let me dig them up.

A lot of people's parents who were cremated wouldn't have any hope whatsoever of convincing their Dad or Mom. Think of trying to track down their every atom that was burned, and then scattered over the ocean. Of course, those in a urn would be a little easier.

8)

Your guide may work for your parents but it cannot be used generally for people in that age range. There’s some points to consider like how tech savvy are your parents; are they computer literate? If they are not, then they cannot possibly understand the concept of nodes, hash rates or other technical details of Bitcoin.

People from developing countries where a formal education does not go so far back the family tree have to teach bitcoins to elders like they are teaching a toddler. How do you talk to the people in these images (https://bitcointalk.org/index.php?topic=5444441.msg61892252#msg61892252) about technical discussions about Bitcoin?

Thank you both, I think this is a really good point, and one of the things that have more impact, showing evidence. Also, along with the whole pitch, I was thinking about gifting bitcoin as well, that is another good start

I would have to simplify that technical part, I have written the pitch as a guideline, but of course it has to be simplified in some situations.

With regards to the picture you sent, in that case, "luckily", in some of those countries, either the fiat currency has been so devaluated, that there is no need to show the difference against bitcoin, as it is obvious. Or... bitcoin is simply a way to "bank" yourself, as it is not easy to access a bank account in those regions (also to send and receive bitcoin overseas)

This is a totally fair argument. The point is, I am concerned about some degree of system collapse over the next decade or two (I do not know, depends on each case, but maybe they do not live that long), and help them understand bitcoin so they can "earn" their way out, that would be quite satisfying. Of course I could do that for them, but I think that learning it on your own is a better choice.

Nowadays there have been many changes in technology. So there are many parents who are not familiar with this technology. When parents try to explain a currency like Bitcoin, they may not take it into account. Most of the parents are used to keeping their money in bank or insurance they will never want to keep their wealth in Bitcoin. But I think if one can be successful in investing in bitcoins personally then maybe one can convince one's parents to invest in bitcoins.

Sorry, your article is so long that I'm lazy to read it, but I want to ask you, what is the purpose of you wanting your parents to invest in bitcoin? Do you want them to have a better life or do you want them to invest in bitcoin for you because you cannot afford to invest in bitcoin? I have seen many young people convince or even force their parents to invest in bitcoin just because they want to become rich through their parents' money. They are lazy people who refuse to work and save to create their own investments. Instead, they think they understand enough about bitcoin and want their parents to use their life savings to invest in bitcoin to satisfy their passion. That action turned them into an ungrateful child.

If you want to be good for your parents, I think let them enjoy the rest of their lives in their own way. Our parents have worked hard all their lives to raise us and now what they need is to rest and enjoy life, not the headache of making more money. If you truly love your parents, invest in bitcoin and use the money you earn to provide them with everything they need.

OP you may have made some great point in your thread but why I could not go all through it because It is being too lengthy, I would only drop you few lines that.... Don't trick or force anyone in manipulating their minds to invest in Bitcoin unless you are ready to be answerable at all costs towards their sentimental emotions as it is certain that Bitcoin is a volatile crypto currency.

On a mere discussion about Bitcoin raised by a reputable person definitely a Bitcoin enthusiastic, whoever that has interest to invest in it will definitely be identified without those strategies like you are marketing a product which of course Bitcoin does not demand.

I find it a practically impossible mission to convince my parents (who are already old) to buy bitcoin, they barely know how to use a computer efficiently, bitcoin technology for them will be like an alien... unfortunately this is the reality for many of us... . perhaps younger people who have younger parents can convince more easily.

One thing that I want said to you OP; there is no compulsion in investing in bitcoin and let's not force our parents to know or have interest in things they are not familiar with, because I believe that when a person decides to invest, he will do or find a way to do what he wants. Since you are the child, and you are the one who knows more when it comes to crypto, there is nothing wrong if you give basic knowledge about it but you don't have to explain it to them at length because in the first place you should know if they are interested or no, you can convince them in the way you know, but what you will do is risky, especially since your parents' money will be involved in this, so you should really prepare so that you don't disappoint them in case your plan doesn't work out.

A rabbit hole or an entire novel?? Haha I do love the idea and thought of trying to convince your loved ones with buying Bitcoin. It’s a just argument and hitting them with some facts and educating them is definitely the right path to go down with this. If you’re having to explain it in this fashion to them it’s safe to say they are not at all familiar with Bitcoin or how it works, I’ve always found dumbing things down when dealing with these types of folks is very helpful. Describing it like you would explain and reach a 5th grader so people understand it is also going to be helpful with this pitch.

We know about Bitcoin and know about the history of Bitcoin so we think Bitcoin has a lot of potential and we don't hesitate to invest in Bitcoin. and we plan the future with Bitcoin. but our parents are quite old and they know very little about Bitcoin or technology. for this reason it is very difficult for us to convince them to invest in Bitcoin and in some ways almost impossible. But next gen people I think almost everyone will be using Bitcoin and will be interested in investing in Bitcoin

Same goes for me. It's like for them to believe, they want to see the success I'm telling to them live in me first then they will follow. Until then they are not convinced nor listening. They just thought it would be waste of money, time, and effort looking at this digital currency. Yes they do understand that this could be the future, but they are not seeing success for themselves. They are adamant of the possibilities.

And it's sad because I am not successful yet to become relevant person to influence them that you can get rich in bitcoin.

I have tried many times to convince my parents about the importance of Bitcoin but they are not able to gain knowledge about the importance of Bitcoin and the future demand of Bitcoin. So now I have given up trying in vain to convince my parents about the importance of Bitcoin because instead of convincing them I have decided to invest in Bitcoin without their permission. Because they don't have the mindset to gain knowledge about the importance of Bitcoin and its future growing demand, I don't discuss such things with them anymore.

Period,the efforts doesn't have to be more than this entirely,whoever thinks its worth going for would apply the necessary steps and to buy bitcoin or even research to hasten the possibility of having to part of bitcoin.
I practically don't have any medium that I intend to use to make my parents show interest.If there is,its just the normal basics of bitcoin that I tell them..and honestly that didn't work out for me.
Bitcoin needs to be handled with proper and vast knowledge,with calculated risks and constant efforts  put into consideration.

If we want our fathers and mothers to buy Bitcoin, we have to be able to explain Bitcoin. They have to get the right information about Bitcoin. Don't let them get the wrong information from out there.

Those of us who have learned about Bitcoin can teach them about Bitcoin. We can provide information about Bitcoin investment so that they can understand that apart from gold, there is now investment in Bitcoin. They can also seek profits from trading but they have to learn more about trading.

I don't think many people want to know Bitcoin in more detail because many people don't want to learn about it, especially about miners, hashes, networks or others. The important thing is that they can use Bitcoin well, they know how to store their Bitcoin properly, and they can benefit from investing in Bitcoin.

I don't think either of my folks would want to invest in Bitcoin. However if they actually were interested I would persuade them to invest in the Bitcoin ETFs which were just launched. Sure its not keeping actual bitcoins in your self custody but with how old my folks are they would get scammed if they kept it on a Binance account. There are way too many fake emails, phishing links, etc that old people can easily get fooled and get their crypto stolen.

If you buy the Bitcoin ETFs you don't need to worry about it. Its on your brokerage account which is very secure and hackers don't generally target any online brokerages because everything is reversible and they can't really steal anything. This is one of the few ways why the Bitcoin ETFs are great for adoption because the elderly don't really understand self-custody but they can rely on the Bitcoin ETFs like Blackrock IBIT.

Lol exactly the same thing on my mind.
When I first opened the thread, I had to first scroll down to the end of the post and I literally yelled WTF. I mean that post is just to long. I only had to read a few paragraphs before proceeding to the response/comment session.
Such a lengthy post would definitely discourage people to participate in an active and interactive conversation here because not everyone can be able to dedicate invest their time reading all that, while also considering whatbthe subject of the thread says.

There is nothing wrong with a long post as long as it's interesting and engaging enough to keep the readers intrigued so that they read it whole. It depends on the writer and his writing skills and also the subject being discussed whether the readers will read the whole wall of texts or skip through it.

Writing skills matter a lot when it comes to this because someone with good writing skills and the ability to construct sentences and paragraphs in a way that would make the reader interested will have all their posts read no matter how long they are.

On the other hand, for someone who doesn't put much effort in their writing or care about things such as sentence structure, vocabulary, punctuation, etc., their write-ups will barely catch any interest from the audience.

This post is long. When I first saw it, I thought it was a novel that someone posted here by mistake ;D.
However, this post shows the poster's interest in Bitcoin. I have already said many times that people cannot be forced to do something when they do not have the heart to do something. I do not agree that any person can be forced to do something.

By doing it when there is no weak point in the hand and when it comes to spending money, people become even more stingy and curious. They think a thousand times before spending a single unit of the currency they have. Then how can anyone be advised to buy Bitcoin by saying they will benefit from it and they will believe us with their eyes closed?

You are right too if someone is dear to us and we want him to benefit like us or grow even more than us then we should gift him some bitcoins and tell him to save them for a long time, you will benefit from it by then. I think it will be too late when anyone realizes this.

The reason why I always prefer watching videos rather than reading long posts is because I find myself sleepy whenever I read long posts or long articles.
10/10 for the OP still though for the effort that he used to create a long post like this but like what others felt, I also felt that I don't need to read that lengthy post. There might be some that are interesting but still, I prefer watching educational videos because I find myself comfortable on it.

Anyway, to answer this question, I will, and I will not let them get involved into Bitcoin... or at least I will not be the reason why they are buying Bitcoin.
I will never introduce to them with Bitcoin. My parents are the type of parents that aren't involved into any types of investments aside from real estate and business, but into other investments like Stock Market, bonds or crypto. They don't even know it or at least they've heard it, but not interested on it at least.

We all have different parents, and it's all up to us if we will guide them with regards to Bitcoin or not. If you felt that they're interested into it, then guide them. Still kudos on the lengthy post you created. :)

You are absolutely right. Now many newbies to crypto are 16 or older whose parents may have been exposed to the modern world and may know something about Bitcoin and be encouraged to invest, but it may not be easy to convince people who are old enough. So it is foolish to force them in this case.  But yes I agree with you that the next generation can get their parents' support to invest in Bitcoin. Because the parents of the next generation are those of us who already know and invest in Bitcoin

You need to find a way to simplify the meaning you want to convey to parents and if your intention is to provide them with an understanding of Bitcoin then it must be done in a much more binding way. You also have to know the character of your parents and if they are a little unfamiliar with the investment route then what you want to convey will be much more difficult for them to accept. You should also understand their previous work patterns because not everyone will be interested in investing, especially involvement in bitcoin.

If your parents are unfamiliar with technology then they should not be involved in investing. You can ask for funding and manage the investment yourself because if you give them access, it doesn't necessarily mean they can do it. I think you know the character of your parents at home better and you also know what to do when your parents are not close to investment patterns.

That's absolutely correct...
The subject has a very major role to play in attracting the attention of readers, let's take this thread for instance, not everyone is interested in convincing their Dads or Moms to invest in Bitcoin, so the subject isn't a catchy one. Mind you, I'm not saying that the topic or thread isn't worth reading, I'm just saying that it's not intriguing enough to catch the attention of readers to want to read through every little thing there.

I do enjoy reading books a lot and I can spend months reading just one book, but what builds my interest the most is the title of the books, that's what invites my interest to read, and if I eventually find it interesting, I'd read the whole thing, no matter how long it takes me.

You pointed out one of the advantages that a bitcoin ETF gives us, and I also support ETFs because it makes it easier for people to access bitcoin, especially older people like our parents. To be honest, getting into bitcoin is not as easy as many people say, it may be easy for us but for some people it is really a big barrier. Many people are not even confident in using centralized exchanges after being informed about the risks involved, let alone using non-custodial wallets because they are much more complicated. But with the bitcoin ETF, things get a little easier. If someone intends to introduce bitcoin to their parents, we should introduce a more suitable bitcoin ETF.

Maybe it won't even happen, my father is over 62 years old while my mother is over 56 years old they have no expertise in technology, using their smartphones is quite difficult. So I thought I would never advise or teach them to buy Bitcoin. Right now I hope they stay alive in good health. But I also think maybe other people who have a better life and they understand technology is natural to invite to buy. If that happens to me then I will give you real evidence of bitcoin's history to date. At least it will make them understand that bitcoin's volatility is quite dangerous but its value is quite profitable to invest.

I don't have lured my parents yet but i did with mybrother and cousin that is they are
now into crypto investment and specifically bitcoin.but my mom is showing interest now that
she keeps asking me how much is the value of bitcoin now and yesterday so maybe in a week
of two? she will finally invest in bitcoin.

It's better to not get them involved in such kinds of investments not because we don't want them to succeed but rather because we want a peaceful life with them, we are making our own money anyway and that's enough reason for us to keep the responsibility to ourselves without making them involve in such harsh environment of the crypto market where they need to deal with the volatility and stress themselves every time they see the crypto market not in a good condition. Let's just do the jobs ourselves, and lessen their worry since they are getting old, we want no stressful things for them.

Actually at some point I got confused as well because giving out time to read all these lengthy post is energy consuming so I think have to reply with the title instead of reading down the whole contents before I sleep of while reading.
At first getting involving into bitcoin depends on how transparent you are to them why because whatever that involves money comes with trust and not just only the knowledge aspect. If your parents trusted so well about money then it would cost less energy to convince them to invest but if they can't trust you with money then it would take long time to get convinced into whatever thing that concerns online investment where they need to pull out money from their personal account to send to their child account or even having to buy anything with their master credit/debit cards.

Reading isn't bad anyway but it all depends on how you programmed yourself for that particular book you wanna read, let say you can't have things to meet up and expect to finished a whole lot of books without you doing other things just like what op did put down there. Usually it's sucking to see that what he could had just summarized with few words he littered the place with text just explaining how to let our mother and father invest in bitcoin. In fact they no explanation just live by example by showing them you cashed out big time from bitcoin and just tell them how long their investment needs to stay before they could harvest that all, after few moment they would call you to come take and put for them without much hassle.

for me it's actually quite easy to convince parents to buy bitcoin. Because in my parents' generation they preferred investing in jewelry or gold, I just have to say that Bitcoin is the digital gold that exists today. It doesn't have physical properties, but the price is much more profitable if you store it compared to storing real gold.
When it comes to purchasing mechanics, I guide them from the start on CEX until they really understand and can see clearly how much profit they will make from holding bitcoin.

Its good ideas not advice them investing in bitcoin during most of our parent lack of technology and easily got scam when investing or holding bitcoin assets in mobile phone wallet. I remember with some of parent around my environment their social media account got hack after downloading fake or phising  link, seems easily their bitcoin or altcoin assets gone behind most of them not understand yet with real or trusted site and fake link.

Most of parent actually interested with their investment in land or gold, its keep worth although the increasing price not faster such as bitcoin but don't make them get pressure when investing in bitcoin and get increasing price will get problem or scare their investment assets.
Seems good ideas waiting their assets giving to us and spend it in bitcoin depend allow or not for selling or converting from land assets to bitcoin assets.

That's right, it would be better if we didn't involve them in this because if they don't understand the investments we make well, this will certainly make them stressed and make them have to think about investments that have the risk of losing their money if they make a mistake. investing in crypto not to mention the crypto market conditions which have high volatility will of course make them anxious when they see market conditions that are difficult to predict and I agree with you not to invite them to invest in crypto and we have to give them time to enjoy the time. they will grow old happily and not have to think about this very risky investment.

Talking about peaceful life, let's not forget one thing: the amount of time left to live they may have. If you're in your 20s and the economy collapses, well, of course it's not a nice situation but even if somehow you lose everything you have, you still have a lot of time to recover. If you lose your retirement funds while you're in your 70s... I don't even want to think about it, you'll have to work till the day you die. Seriously, don't overcomplicate your parents' lives.

Well you're right, but when I say I spend time to read books, I didn't really mean that I spend all my time reading, perhaps whenever I'm free or my specified times for reading, so I do have enough time to take care of other stuffs too.

Most definitely, like the old saying, action do really speak loud than words, sometimes you really don't need to go through the stress of preaching to people about Bitcoin and its benefits, because the results of your investment will surely so all the speaking for you, especially when the people involved are people around you, like your family or some close friends.

I remember my dad always talking about bitcoin back in the day and how it was gonna be the next big thing. Unfortunately i guess he never actually purchased any lol he just talked about it alot. I was young still so i had no idea how to get any but i tried. I just remember signing up for crypto exchanges and being too young to buy damnit!  :-\ :-\ :-\ :-\

If your dad's mindset was like that then, there is a good chance that you will persuade him to invest in bitcoin because you can see his interest in that matter. if at that time you already have the ability and deep knowledge when it comes to investment, you and your dad are definitely talking about bitcoin investment. it's just sad but it's not too late, you can still help him if he wants to or you'll be the one to continue doing things he didn't do before.

Ahhh... I'm feeling sick and dezzyyyy what big stuff OP you've compiled is it your own summary about Bitcoin or just AI-generated content anyway appreciate if you did it by yourself, At the same time here are a few minor suggestions use Glow, and colors, Bold and custom size to make it better in the presentation because like this no one is gonna read it, as I haven't because I cant look for everyone read repeated content add some headings so we can scan through the page and get the desired piece of information which is only possible with the proper formatting and presentation in which you've scored 1/10 in this thread.

Make sure to follow the basics, such as Glow, Colored heading, and Custom sizes for text according to the need.

I have a story where my parents were very supportive of me investing in bitcoin in 2018 rather than investing their own money. I didn't have a steady job at the time and I really didn't have any income to invest. I tried telling my parents and asking them to lend me $500 as an initial investment budget. I was happy with their good response after I explained how I could make money by investing, and of course that was the start that kept me going until now.

I didn't convince them to invest in bitcoin even though I explained how it works. They should be able to choose investment assets based on what they believe can be safer and also profitable, even I would never protest against that. But of course, investing in bitcoin may be better than gold and I have proven it myself from 2018 until now.

Yes maybe it is not too late for the father to be influenced and invest in bitcoin if the son will initiate to invest together in bitcoin but the thing is I think it will not be easy because the father will be more hesistant as for a few years he has interest in bitcoin but never actually investing to it proves that the father maybe is too afraid and reluctant to investing in bitciin which is understandable, but yeah it is not bad to try, as long as bitcoin exist there's always a chance and timing to invest into it and actually earn but it will depends on how well the person understood the investment he will enter in, also it will be a good bonding for both parent and children if they have the safe interest as they can help each other, anyway it is not too late if you can try to pursuade your father I'm sure he will be interested again.

Mine are quite old, if we are talking about some teenager who wants to convince their parents, they could just do so with their own allowance type of money, not everyone gets a certain amount of money every week, some get it whenever they ask  for it, and some get a certain amount of money per week, I think using that to do it would work better. That way, if you could show them some results, then they would be able to accept the good results and could end up doing something themselves as well.

Obviously that may not work neither, but at the very least it is a way to start, without seeing some proof, they will not do it, even after seeing proof they may not but at least you would have proof in your hands to show them how this could work as an investment.

They are old enough to be involved in investing and although there are some people who may be in this investment system. If my assumption is correct, that our parents are not that close to investing and they are a little more unfamiliar with technology, then it is likely that they will find it quite difficult to understand the investment patterns that we carry out. On the other hand, it makes much more sense to lend their money to us to manage and they don't need to be directly involved in the investments we run.

They have their own way of investing money and maybe a system like the one we run doesn't suit their minds. I remember very well how my parents preferred to buy gold and land for the investments they carried out because their time was more inclined towards that. Forcing desires like we do will not necessarily make them understand and on the contrary will add to the burden on them at an age when they should spend more time relaxing.

Maybe you don't like reading? Or you do but you only lack of time. That's only what I can think of for now on why you can't go through all what he wrote. An answer of OP to those who experience a sentimental emotions after him forcing them to invest in BTC is not enough but those users can also demand him a refund for their money.

BTC is not a human like us who wants more money, this is why you said that it does not demand the same thing. IDK if you are also a BTC investor like us but if you are, then I'm sure you also want more profit to come for you, so why dislike such an idea the OP has? I don't mean that we will also do the same thing, so we are safe and we won't be guilty.

If you were going to ask Your Parents to Spend $10,000+ You should just have them invest in a CryptoKitties Style NFT BattleCard Game (just an example) that YOU OWN.

It's great to read your story and I'm sure you have a great ability to inspire people by telling them what they want. If you were to talk to your parents about investing or buying bitcoins, you might not be able to convince them so quickly and easily. However, if every parent can raise their children well then the children will not have any doubts about their parents work and it will be easy for the children to explain any work to them.

Investing in bitcoin is a very wise thing to do but it is only possible if you know what it is and how it works, in Other not to go into in the wrong way one need sufficient knowledge about bitcoin. Getting your parents to buy bitcoin is not a bad one but it depends on how civilized they are in the digital world, are they the ones that are conversant with the internet or they are the type who do not have any interest about digital assets or interest. Convincing someone to do something that he or she has no knowledge about is not always good because if by any means it goes the wrong way, you will be held accountable.

Getting either of your parents to buy bitcoin is good but it should be done at their own will and also with full knowledge of what they are going into, not just because of their love for you or because you told them to buy or invest in bitcoin, so that if anything should go wrong your parents will not be disappointed in you rather they will see it as a willing act or decision made by them.

I am again waiting for the El Salvador government to pay their debt to the IMF with BTC. If it is paid off, I think El Salvador will be an enviable pilot project for other countries in the implementation of financial inclusion in terms of servicing national debt.

The current conditions, let alone paid off, the interest alone has many obstacles to be repaid. This is the real source of chaos that many of the country's leaders must immediately think about, otherwise the public will continue to face uncontrollable increases in the price of goods every day.

Well before you  introduce bitcoin investment to your parents first thing you need to ask yourself is if they can  be able to bare the risk that is involved? And secondly you need to make sure that they are well  educated, and also make sure that  they know about this internet fraudsters this are things they need to know before looking out to any other things. because challenges might come from this angles and if they are not familiar with those things probably they might end up being scammed, and at this point you will be blamed for not letting them know about this things for the first time.

I understand that Bitcoin is a potential, tempting investment. but to be honest, I am not willing to get my parents invest in Bitcoin. Because, yes, they are really old, even using a telephone is enough for them, just to communicate, nothing more than that. And they don't even understand what the online world is, even though it has been explained in great detail and in simple language. So, that wouldn't be possible. because if I force him then it means I will be cheating him because after all I will also be the one managing the investment. Meanwhile, I also have younger siblings who so far are still not interested in the world of crypto even though they already know what I do. so this wouldn't be fair to them either.

But that again will depend on each family's individual conditions. There are many things that influence our decision to involve parents or not in cryptocurrency investment, including family, because we alone understand the conditions of our family.

Investing in bitcoin was the right decision for me, and I did not needed anyone to convince me this was the case, as my knowledge about the economy and the history of money told me immediately that bitcoin was on the right track and I took the decision on my own to invest in it, if others do not see the same, there is no point in trying to convince them as this just means they are not really ready to invest in an asset that while great, it presents a volatility very few people can stomach.

This is so long, it's difficult to assume you wrote it yourself  :D. Anyway, my parents already believe in Bitcoin. Well one of them more than the other, though. The thing is, you know it's way easier to buy them and keep them yourself for your parents, yeah? But if it's for awareness and knowledge sake, then I think the best way is to let them know how the traditional banks are starting to fail, first. That'll get them engaged since everyone can relate to how traditional banks are becoming less effective ( especially in terms of savings) these days. Then, let them know there's a solution, and teach them how to buy and keep their savings there.  I don't think it's honestly that hard to educate and help them. Some of them may be stubborn at first, but of course, you shouldn't go to them without proof that it's not a scam.

I didn't read the wall of text, not interesting to be honest.

I just want to mention something, I am not really going to convince someone who is used to the existing system cause it's difficult and there no point of doing it but we can do with the next generation, let's say how to get your son or daughter to buy Bitcoin that makes more sense to me.

Get the word about decentralisation to these people and sooner or later they will come around.

These scenarios are common; actually, it's just common sense, where if your parents don't understand what you see and know, there will for sure be an argument about what you're talking about, even if it's about Bitcoin. .  Of course, on their part as parents, they don't want you to regret it in the end.

They don't want to make a mistake as much as possible, but at the end of your conversation, they will understand that even in their minds, they don't like what you believe in this conversation, and in their eyes, what you believe is wrong. But they will also let you do what you want so that if you make a mistake, they want you to learn from your mistake, and if you are right, they will see that you are gradually gaining maturity in your personality. That's all. .

I believe that someone who is used to the existing system will of course find it very difficult for them to accept it and it would also be better for us not to make it difficult for them as parents to invest in a market that has high risks and it would be better to let them enjoy it. their old age with their family and not thinking about this investment.
Yes, it would be better for us to prepare our generation to be able to invest in Bitcoin because this will be very useful for their future and if we have prepared them it will certainly be easy for them when they grow up to understand investing in Bitcoin.

We are highly flexible too but I am talking the reality it doesn't mean old generation can't understand and use crypto, yes they can but for now the priority can be focused towards the future generation and they can be able to adapt to the changes more easily than old era people. If we are talking about first time investment of their retirement funds then I wouldn't call it as good way to invest.

I am just like you, I have never and have no intention of encouraging my parents to invest in bitcoin. In addition to bitcoin's upside potential, it also has risks, and I don't want my parents to spend the rest of their lives stressing over bitcoin's fluctuations .

If we want to introduce bitcoin investing to someone, we should target our generation, the young people . Older generations like our parents are no longer suitable for bitcoin, and what they need is to rest and enjoy their old age , not work hard to make money .

To me , the people who are trying to give investment advice to their parents are people who can't afford to invest in bitcoin. They just want to use their parents' money to invest in themselves rather than thinking about good things for their parents .

Yes, there's nothing wrong if we tell this information to people around or closest to you, but I think it will be very difficult for them to understand it, our understanding of Bitcoin today is certainly different from our parents' understanding of investment. Our parents' understanding was that if we buy everything it must have a physical form. According to parents, bitcoin has no physical form want that makes them reluctant to have it.

What you say is very true, yes, it is very difficult for them to be interested in this asset, even though you have proven it. Just let it flow like water, one day who knows, they will be moved to see its movement This asset requires a very long process to convince them.

Of course I don't know how old was your dad at the time but I guess he would be at least 45-50 years old, and did you actually expect someone of that age to go online, study about bitcoin and understand how to use an exchange, send all the KYC documentation, move the funds around, etc etc? If you had no idea how to do it, and you probably grew up using internet, how were you expecting him to do that?

Maybe it was a time where your father had no means to actually invest.

If he was so passionate in talking about it then he might have really believed in bitcoin and therefore would have bought some but unfortunately it is not always that we get to do what we want.

I also would like to buy more bitcoin and constantly think about it but I just currently do not have the means for it.

Elderly persons are interested in investing in something which must have a physical form and must be a popular subject such as land gold silver food grains etc. If we try to convince them otherwise, they will discourage us. But those who invested in Bitcoin some time ago and made a good profit today can show this investment summary to interest them in investing in Bitcoin.

Although Bitcoin is a popular coin around the world, there are many people from the 90s who consider Bitcoin to be a scam (such as my parents). When I told my parents one day about investing in bitcoin they didn't believe me even they said it's totally scam because there is fear of losing money they think that. A few months after that when I made money from my first investment and helped them believe that it is possible to make money from investing in Bitcoin, it is not a complete scam.

Since then till today my parents did not discourage me to invest in Bitcoin but they showed me more interest to invest in Bitcoin even I have some cousins who are educated also interested in investing in Bitcoin. But the sad thing is that they are still students with no source of income.

As you mentioned, it's very difficult to convince people with traditional mindsets to believe in Bitcoin or cryptocurrencies and make investments in them because they mostly believe that one can't earn money from the internet and it is mainly used for gaming or wasting time as they see people using social media platforms a lot.

Even if you earn some money from cryptocurrencies, withdraw the profits, and show them the cash, they will still not believe you for the first time and will think that you have earned them from somewhere else, or maybe it's not your money and you are just kidding with them.

My family never believed that I can earn money while sitting in front of my computer, they used to think I'm playing games until I cashed out some of my earnings and that was when they realized I'm not wasting my time on useless things.

First of all, you don’t need to prove to your parents that Bitcoin is the best solution for all the world’s problems. Above all, you need to show to your parents that it’s not just another fleeting hobby of yours. So dedicate as much time and energy as you can, to learn about Bitcoin. Then you’ll find out to yourself that you’ll persevere with your passion for the long term or if you’ll simply be unnecessarily asking your parents for money. If so, they’ll notice it themselves😊 (https://mazzani.pl/projektant-wnetrz-cennik/)

The age of the parents of each user who joins here is different, some are still alive and some are dead. That's the reality of life. I have parents who don't really understand technology, after all, they are now 70 years old. His eyes can no longer see normally and his hearing is starting to become impaired, it is very difficult for me to convince my parents to buy or invest in Bitcoin.
The only way I can ask them for permission to use their wealth is invested in Bitcoin, of course they don't know what Bitcoin is, but they really trust me to manage their money. My parents were able to enjoy the results of Bitcoin even though they never knew about Bitcoin, I always gave them some money and told them the money was from Bitcoin investments.

Actually, there are many ways to invite or persuade our parents to want to invest in Bitcoin, of course the choice you take is actually one of them. Because your intention from the start was to make your parents rich so they could invest in bitcoin to create financial freedom in the future. Even though your parents are very old, their eyesight is short-sighted and they can even hear, but you have the initiative to manage their finances so they can invest and the profits are given back to your parents. I think if your parents are still young, their memory and eyes are still clear, they will definitely invest in Bitcoin too.

Times are increasingly developing, fortunately in our time there is already bitcoin so we can easily invest in bitcoin. But old people used to invest in things that looked like gold, land and property. so bitcoin investment is very foreign to them. Even if we want to educate them about Bitcoin, they have difficulty understanding it because Bitcoin is very complicated. However, as children, we must continue to provide education about understanding Bitcoin to them, the most important thing is not to force them to follow our wishes.

Even if bitcoin is for everyone regardless of their age, in my experience people get to an age in which they do not want to worry about investments or whether they can afford something anymore, now many do not have that luxury as they were unable to save enough money for their retirement and they are still working or getting by with a small pension, but those that were fortunate to do so, now want to rest from those responsibilities, so a child of theirs taking that responsibility for them is quite common.

I totally agree with you I also have parents who don't have any  idea about what is happening in the internet and they're also at the range of 70 to 67 year's old, I think is very hard to convince them to go into crypto investment. However I think those parents who are not up to the age of 67 to 70, i think you can easily convince them to invest in bitcoin that's for those parents who understand technology and also the things that is going on in the internet because if they're not educated enough it will be very hard to convince them.

I did not expect this thread to get this popular!! I have re-written the OP; to make it shorter and clearer. I am currently in the process of orange-pilling two friends, I will let you guys know the results  ;)

But why are you trying to convince your parents and use their money to invest in bitcoin? Why don't you go work for yourself, save money and build your own portfolio? Our parents have worked hard all their lives and only saved some money to enjoy their old age, and should we take their money to invest in a volatile and risky asset like bitcoin?

Personally, I do not agree and oppose the idea of convincing or trying to get money from my parents to invest in bitcoin. We should build our own careers and not depend on our elderly parents.

I also think about the reason on why would we convince our parents to buy bitcoin? It will just put them on more higher risk to lose their money. Maybe better don't convince them to buy bitcoin but to teach them about bitcoin if they are showing some interest about this. But if they happy and relax at home then I guess its better not to bother them on any stressful activities since maybe they will be in huge risk to compromise their health especially if they can't handle so much pressure if they lose their money due to bitcoin volatility. I would also choose to solely invest on bitcoin and will not bother anyone since this is not really a good idea to do. It could save us time and we could focus on a lot of things rather than worrying about on the investment decisions made by our parents.

Teach them about bitcoin and maybe guide them to invest a little in bitcoin if they are really interested in it and want to do it voluntarily. If not, don't try to convince or worse, lie to them just to get them to invest in bitcoin. Bitcoin is a potential investment but don't forget that high returns come with high risks and not everyone can withstand its volatility. Even young people have people who don't like the volatility of bitcoin, let alone older people like our parents.

Honestly, I don't see any benefit in convincing our parents to invest in bitcoin and I think that the people who are trying to do this just because they don't know how to make money, they don't have the money and they want to use other people's money to invest in bitcoin. And using other people's money to invest in bitcoin to satisfy your own desires is just selfish and greedy.

Forcing others to invest in anything they don't understand is never good. Bitcoin investment is never the same as investing in other physical assets such as gold, land or property, so apart from having to teach them the basics of investment, you also have to teach them how to secure their wallets and assets.

Nothing should be forced and I don't think you are responsible for someone else's financial future which should be your own responsibility. Of course you can tell anyone about good investment choices, but don't be responsible for any decisions that shouldn't be yours. The point I want to say is, don't force other people to invest, but you can tell them which investment assets are good and have potential. Let them learn, but you can also be a mentor without having to be responsible for whatever happens to them in the future.

Most of our parents will be around 50–55 years of age. Right now, their thoughts will be about having a healthy life and a happy retirement. At this time, their minds have the fear of risking. For this reason, even those who are convinced of investing in cryptocurrency will go for a second opinion. Right now, people in the same age group who are having a conversation with our parents could easily convince them to invest in cryptocurrency. Importantly, our parents need to experience a change in the financial or lifestyle of the person convincing them. When we suggest it, they'll hear from us, but they won't take it seriously.

I don't want to be too much of an annoyance to them so I don't really do this kind of thing with them, what worked for me is that I just showed them the results, that's it, they said that they can play the waiting game just like I did, I even warned them that it might take longer than you'd expect it to be but they still said the same thing and that would be that they want in no matter what. So far, I'm hodling the bitcoin for them safe and sound in an Electrum wallet, they don't always accumulate as there are some expenses needed to be paid but when they do, it's such a treat because I know that when they do it, they're going to really happy when the price pump starts to happen and that's all that I look forward to.

This is correct, I have seen a lot of people who failed to trade because they do not completely understand but they wanted to since they saw their friends making money as well. I personally believe that they are just gambling at that point because they do not understand what is going on, which is why I believe that we should just avoid making any decisions if we do not know what is going on, there is really nothing that we can do if we keep focusing on trying to make money and not focus on learning how to make that.

Bitcoin is something that has this learning curve and if you avoid that all the time and just try to make money than the result will not be all that great and you are going to regret the situation you are in quite soon afterwards.

For me, it is easy now to explain how my parents should buy bitcoin because there is a lot of positive news about bitcoin and its benefits. My parents are also quite updated with technology and have an open mind to digest every new technology, especially regarding the increasingly popular digital asset Bitcoin. I always remind them to buy early when the price of bitcoin is still below the last high and is an opportunity to start buying and holding.

Nobody (hopefully) would like to scam their own parents, so of course the intentions behind these type of advices are good but good intentions could not be enough. Money is always a very delicate subject, especially when we start involving our relatives, and if the parents are not used to investments there is good probability that when they start to see their investment going red, they'll either blame you or sell everything at loss. They must be mentally prepared before and you must make clear that no matter what is going to happen, they won't interfere with your money management.

We've got different ways to buy Bitcoin and other cryptocurrencies. First, they need to understand and accept. My parents aren't that good at technological advancement. This means they're in a state that accepts real currencies, and they find the virtual currency to be something different and hard to believe. I'll just leave it to their choice, and it is up to them to analyze, understand, and take the decision on whether to buy it or not.

Indeed quite a long text you have written here, I'll rather say its quite impressive that you want to explain what bitcoin is point to point to your old dad, I would hardly believe that he would last more than 5 minutes listening to you or rather get ready for a while lot of questions to be thrown at you, anyway it's good post you made and that's fact.

Decisions and choices are some of the things that carry on our lives as we grow.Mostly,the decisions we take whether good or bad affects us and the people around us in certain ways.
You're more like an agent in this case,somehow,an organization where you work needs customers and you're in charge of recruiting new members to partake/participate.You'll start inviting,instructing and successfully complete the tasks for the job.

My job as a bitcoin influencer is to lay the necessary aims,objectives and benefits that comes with investing into bitcoin,but its not in my  place to determine the possibility for accepting the offer or not.
The truth is that most of our parents cannot trust thier children with financial aids/advice and they'll never yield to whatever their kids would say concerning money and investments.In order to avoid loss,regrets and disappointments,they'll rather stick to their cheap and loyal businesses.

if your father introduces you to bitcoin then it will be easy for you to explain the importance of investing in bitcoin but if your father does not understand about bitcoin I am very sure your father will reject your explanation or your father will ask you about complicated things you explain to your father, but I salute you because You are determined to explain Bitcoin to your father, the things you are doing right now may not be possible for other people to do. If you can explain to your father about Bitcoin, especially to your friends or other people, you will definitely be able to explain it easily.

Convincing old dad about Bitcoin is not an easy task. It is a very difficult task because they are not used to using the current technology or resources due to which they will consider it too risky. they cannot be convinced of how strong Bitcoin is.  Because of this they will be very afraid to invest in Bitcoin. So it is better to explain Bitcoin to the next generation than to the old father.  Then they can use the bitcoins you leave behind after you die

I would not say that I am "forcing" them at all, I am just explaining them the points that I believe that are interesting, and sending them videos, books, etc... I hope that someday the idea will "click" on their minds. I just hope they do not come back in a couple of months telling me that they bought SHIB :)

Also, if they are walling to get into Bitcoin, I will just tell them the ways I find more interesting to get started

https://preview.redd.it/op-fails-to-explain-crypto-to-his-parents-and-now-they-are-v0-ebn39dug9j891.jpg?width=640&crop=smart&auto=webp&s=6f27dc559bffe2ca6d5384b66d92f4fd88e8f24b

See this shit? this is why you don't convince your parents or relatives to buy cryptocurrencies.

If they already have the knowledge and a budding interest to buy crypto in the first place, that's the only sensible time you could teach them and convince them to buy crypto, whether it's bitcoin or not. If that wasn't the case, keep your mouth shut and just work for yourself.

The thing is, these people are going to be in it for the money, they don't have the time nor the interest to know more about how it works, or why it's going up and down, heck, they wouldn't even bat an eye as long as it continues to give them money.

Just shut up about crypto during family dinners so you don't up the disgusting crypto bro that everyone hates during reunions. That's it.

For parents, especially those who still have conventional thinking, it is not easy to convince them to invest in Bitcoin. If they can understand and decide to invest, then regardless of their personal awareness and knowledge, we can only support them, not tell them to. However, this investment contains risks, and it is not good to force people to agree with us, after all, everyone certainly has a specialty in their own field, not just Bitcoin, a place to invest.

It’s as simple as this do not convince your relatives to buy crypto currencies, I for one made the same mistake my sister overheard I and my boys on an overextended discussion about Bitcoin, how much profit we made on the first quarter of the year and how we were going to improve on the second quarter. She was so intrigued that she asked me to teach her how to go about it all after I did she begged me to just take her money and just invest for her worst mistake ever on my crypto journey.

Anyone regardless of their age would lose focus and start drifting away if they are not interested in the topic. Our parents, not wanting to feel 'inferior' with knowledge, tend to reject any new knowledge. They don't want to bother themselves with something as hard and complex as the internet.
It's better to ask questions than pretend that they actually understand it and make wrong decisions afterwards.

i don't have much time to read the entire text, but believe me, convincing your parents to buy bitcoin is very difficult, even i had a very hard time explaining what bitcoin is to them. from my experience, they will say that bitcoin is the same as a ponzi scheme and i should stay away from it. i don't know why they find it so hard to trust bitcoin, but it seems to be because they are an older generation and their experience of being scammed by one of the ponzi scheme products may be the reason for that. so right now i prefer not to discuss bitcoin with anyone, because i'm too lazy to have to fight their arguments.

Totally agree with you!!

And in the world of business, the code says don't mix business with friends and family because this is usually your weak point and you wouldn't have a clear mind to make a sound decision and worse off giving parents  ::) financial advice where they need to take their moñey, comeon  :-\

Bitcoin investments are usually long term if you are a hodler, and I think parents are the wrong target market afaik, instead invest for the younger generation say your kids, younger nephews & niece's or yourself as the profits will be enjoyed in the future when price and Bitcoin demand grows...let parents enjoy their peacea and money without any drama  😅 8)

I think parents who aren't interested in Bitcoin won't read what you wrote because they basically don't like it. After all, if my parents had no interest in bitcoin, then it wouldn't be a problem. I'll just try to grow the investment myself, and make them proud. However, I think if our parents are old enough, and don't understand things like this, then I will let them be happy with what they like. Meanwhile, I will try to utilize what I know about this investment.

Indeed recommending someone into Bitcoin is risky but however I think it will be more better to recommend family
members than outsider reason because family members knows you very well on what you can do or what you cannot do because if for instance you introduced an outsider to invest on Bitcoin and eventually he decided to use his investment for trading and based on how volatile the market is he lost all his investment there is a chance that he may come after you thinking that you lured him into something that would consume all his money.

But however in terms of family member no matter how the investment turn out they will only feel bad but they can never come against you because they know the person is not capable of luring them into something that's not real, so family is more advisable in terms of recommendation but however the person should be able to educate them concerning the risk involves while investing because I realized that one of the reasons why most people get into trouble with the people they recommend was actually lack of orientation they never informed them on the possible risk associated on the investment.

I think even if you explain this to your parents if there is no interest in knowing Bitcoin and blockhain technology you will just waste your effort, it is better to explain it to someone who you see initiatives who really want to know something.

Bitcoin and Blockchain technology are different matters and also broad matters, and take note that it is not easy to understand in one sitting, Bitcoin and blockchain are not like that, for sure you know that too.

I am a very simple family man and my parents are not highly educated and they don't have much idea about Bitcoin or all these virtual things. But I came to know about bitcoin through some online platform very likely I will be the first member of my family who will be involved with bitcoin although my knowledge about bitcoin is not enough yet but I am trying to learn.

I was in the same situation as you that I just sat all the time and use the computer in vain. In fact it is difficult to convince older people of any online activity until visual evidence is presented to them. However, this is not the case for all individuals but most cases are faced with such situations. However after much persuasion and explaining all the online activities I finally got the consent of the family. Which is very important for me.

I think it should be those parents that is well educated, and also those parents that has full knowledge about the things that is going on in the internet, because most parents can be educated but they have less understanding about this digital world. more especially those parents who has come to aged, Moreover telling this set of people to buy bitcoin is just like a waste of time, because even if you explain to them million times about how bitcoin investment works they won't understand.

In my own opinion,sometimes it might actually be difficult at the initial stage in persuading your dad or mum in buying Bitcoin, because nowadays some parents mostly have trust issues.But nevertheless,

 Start Small: Encourage them to start with a small investment to get comfortable with the concept. Emphasize that they can invest an amount they are willing to lose.

 Use Real-Life Examples: Share success stories of people who have benefited from investing in Bitcoin. Show them how it has become a mainstream investment option.. but in all.

Remember that investing in Bitcoin involves risk, and it's essential for your parents to understand and be comfortable with this before making any decisions.

You're right, it takes parents that's educated and a bit younger to give listening ears to all those that the OP just mentioned especially those parents that's come across Bitcoin on the Internet but don't know how to go about it, such parents would be willing to listen and learn from their child mostly if they heard or seen that it's very beneficial but then it would be very difficult to convince parents that are not educated or not familiar with modern facilities or technology cause they'll need a device like phone or laptop to go into the net, download apps where they could invest on Bitcoin the only thing a child could do in such situations is to give them proves why investing on Bitcoin is a good idea then get funds from them and buy and hold Bitcoin using their parents money. My parents are learned though they're advanced, they know about Bitcoin but don't use it cause they still believe in fiat money which they have understanding about, but I believe they'll be very convinced if I give them reasons why Cryptocurrency is far better than fiat. Now what I'm trying to say is that it's one thing to know about something and understanding it is another, most parents know about Bitcoin but they don't understand it and would rather save with fiat currency in the bank instead of Cryptocurrency like Bitcoin, but if one could convince them with good reason then they'll have a second thought of give Cryptocurrency a chance.

Op your post is way too lengthy,if there is a way to get your parents to buy Bitcoin.The thing to do is to inform them about Bitcoin investment and how it offers profitable returns in the long term;
1.Explaining Bitcoin to them.
2.Explaining the high volatility of the market.
3.Explaining a digital wallet and what best wallet to store their digital asset for the long term.
4.Explaining what a seed phrase is to them.
5.Telling them the preferred strategy to accumulate bitcoin (DCA strategy)
6.And if they're interested it's best they start as possible.

That was a super long one. To me the easiest way to get my mom and dad to buy Bitcoin is by simply asking them to send me money for something and then use the money to buy Bitcoin and yet tell them that’s what I did. It will save you many stress of explanation. Most of them wouldn’t have interest because they are stuck know it used to be.

Typo Edit

Does that mean you would lie to your parents in any way to get their money to invest in bitcoin? I can say this is the worst idea ever. Why don't you go to work, make your own money and invest in bitcoin, instead of lying and taking your parents' money to invest in bitcoin? And if you do this, you're trying to tell your parents that bitcoin is a scam.

If they are already not interested in investing in it then why are you trying to persuade or try to deceive them? If they don't want to invest in bitcoin then leave them alone and don't bother them. In our forum, there are many young people who are still going to school and receiving benefits from their families, without a stable income, I hope they won't take your advice to get money invested in bitcoin.

Do they really have to learn all of that? I'm sure that most parents would probably just care on the things that would matter which is the time that they're investing in bitcoin, pretty sure that most of those stuff doesn't even have a need to be known because what's the point, would they be mining too that they need to learn about mining? Pretty sure that's not the case. I think that the best way probably is for you to just stick with the FAQs of bitcoin investing, that way it's not difficult for you.

It isn’t as deep as you make it seem. To cut the long story short, what I suggested is very simple and straightforward. It’s not scam because you’ll end up telling them this is what you did with it. I’m not sure your kind of parents but it depends on the relationship you have with your parent. For me, I don’t see a big deal in it as you put it.

If you use the money for something good then I also don’t think it’s that bad of an idea especially if you do give them their money back once you make profit. But it’s still a risky move because you can easily lose the money you have asked from your parents. As long as the money they gave did not cause them to become short in money then yeah probably it’s not that big of a deal.

I don't think bad ideas when recommending our parent for investing in bitcoin than hold their money in the Bank only without increasing yet but get inflation values in the future, your opinion is right OP need to invest in bitcoin from his own pocket but he want to make their parent assets get more increasing when investing in bitcoin.

Firstly its difficult approach when talking about the interested and benefit side of bitcoin become investment assets, but after all of them know how much bitcoin price increasing year by year will make them interested to buy or investing in bitcoin than not benefit yet earn when holding their fund in the Bank. I think need to make good approach for parent not understand well with cryptocurrency digital era and benefit earn in the future when bitcoin price raising up drastically.

I never recommend lying to your parents. I value honesty and integrity. Bitcoin is not a fraud. This innovative technology could change our banking system. Your parents may be apprehensive, and thats fine. Their generation is used to traditional banks and investing.

World changing. Bitcoin and other cryptocurrencies are future. They provide financial independence that traditional systems cannot. Its about educating and showing possibilities, not deceiving. Instead of lying, talk to your parents honestly. Tell them how Bitcoin can help them prosper and safeguard their financial future. Remember, knowledge empowers. Give your parents power, and they may surprise you.

If I may advise you, you don't need to write as long as you wrote.

If you need to know about this.

Bitcoin is generally known to everyone, from rural areas to cities, young and old, women and men, fathers and mothers know about Bitcoin, it's just that they don't believe in how Bitcoin actually works, that's the main problem that we have to provide a good and perfect understanding.

Bitcoin is a digital currency, which is operated by connecting to the internet, Bitcoin is not something that is difficult to understand, there are many sources that can be learned about Bitcoin, in essence: provide a detailed understanding of its advantages, How Bitcoin actually works, automatically they/father/mother will buy Bitcoin, what's more our parents like trading or investing, it will be easier for them to accept Bitcoin and buy it.

The most important thing is that the money you get will not disrupt your family's finances. that's enough. If what happens is that the child asks for money, then you can be sure that the money is the child's right. but if what is meant is borrowing, of course, there is the thought of returning it.
but it will be a surprise for the parents when one day in the future their child manages to give money with the profits from investing in Bitcoin, the capital of which was actually given by the parents in an unknown way.

I agree with you. I understand you want to do some good for them but this is not the right way to do, you are lying to them and, in a certain way, you are implying that they are too stupid to understand what you want to do, so you have to do it behind their backs. We are talking about family and money, it's already a delicate matter, you also add lies to the mix and good luck with that.

It's their money, they have enough life experience and I believe they are aware of what they are doing so I will respect their decision. They are the people who spent their youth raising me and I believe they are wise enough to know what is good for them. As for me, I can't even take care of them, so I believe I'm not qualified to teach them how to spend money. Moreover, my parents are old, what they need now is to rest, enjoy their old age and do the things they like, not spend their last days working hard to earn money to give me money.

I'm not ungrateful enough to force them to invest in an asset class they don't like, one that will give them sleepless nights or even land them in the hospital when they can't stand the volatility of bitcoin. If you feel that taking money from your parents or advising them to invest in bitcoin is good for them, do it with your parents.

LOL, that's a great way. Well, the best way is also to ask them for money to invest, and we use it to invest in bitcoin. Even if you use the DCA method, it doesn't matter. When you have enough bitcoins from your parents' investments, you can buy them a house. However, not all parents are suitable and understand the Bitcoin system. The best way is for them to give us money and support for it.

Well it all depends on the kind of parents you have, well I don't know how parenting is over at where you reside but I believe most parents here would disagree and even cease to send you money even if you told them that this is what you used the funds for especially when it's something they feel is not good and believe me or not crypto currency in some places wear I stay still have more negative view by people especially when the government is pointing and painting Bitcoin as something that's totally evil and against the laws of the country.

I don't believe you after making a profit from bitcoin and buying a house for your parents because from the beginning you intended to take their money to invest without the intention of working to make money for yourself and making money to help them. Also, have you thought about the scenario if your investment fails and you lose all their money, how will you explain to them or will you continue to make other excuses to keep asking money from them?

I am married and have children. If it were me, I would stop giving him money if I knew he wanted to use my money to invest or do business. It's not that I don't want to help him, but if he thinks about getting rich, he must first know how to make money himself and not depend on me or anyone else. Life is not easy and if we make a habit of depending on our parents then what will happen when they are no longer there? So build your own career instead of just thinking about depending on them.

Right! Because not all parents would understand that is why I said it. Even gradually asking them little by little and you DCA with it is a great idea. We all know our parents better than anyone and I'd say we should do the way it works for us. If your parents would understand, take time to explain to them, if not, tell them the surface, save your time and help them invest (whether they know it or not).

Appreciate your perspective and respect for parents. It is undeniable that parents wasted their youth nurturing us and raising us carefully. And they should take care of us in their old age as our parents did in our childhood and they deserve it. But there is a lot of difference between their view and our view due to time and generation gap.

Briefly let us clarify the matter with an example, one of my cousins ​​wanted to do import export business and explained to the family. However as his family members were engaged in agriculture they did not give consent as they did not understand his son's import-export business. Later he started the business with some loans and five years after starting the business he was able to buy a house and a car. If his parents had first realized that their son would be successful they would have supported him by giving money at the beginning of the business.

Each parent would be different on the ff:

1. Open mindedness
2. Knowledge about online things
3. Knows the latest
4. Do knows how to listen into their kids
5. Welcomes new ideas

As their child then you do know on what kind of parents you do have. There are ones who are really that easily scolding their child at the moment that they are explaining something that they dont know
but if you do have that kind of parents which do really listens on what you are really that explaining about those things including crypto then it wont really be that much of a problem if
you would really be tending to share up about on buying Bitcoin but if your parents are really that not liking those ideas and considering that online stuffs are scams
then there's nothing that you could do about it.

In my opinion, this is best avoided. Because this is the same as lying to your parents by arranging their finances to invest in Bitcoin. It's true that investing in Bitcoin is good, but the way you do it is wrong, like pushing yourself too hard without your parents knowing what Bitcoin investment is like, what the system is like. The risk is that if they don't know about Bitcoin, at any time they need money when the market price is down. How to explain it to parents? Don't we know invest in Bitcoin with cold hard cash?

Don't be too pushy, we should educate them first about Bitcoin, if they understand and let you manage it, that's better. because at least they know the Bitcoin working system. However, most parents prefer to invest in real objects such as gold, property and land. Only a few parents understand that Bitcoin investment is more profitable than other investments.

Well, that could be a good idea as well. However, I think getting them into bitcoin without good education is not proper at all. And to think that they’re less interested with bitcoin due to its high volatility, I don’t think I can still convinced them to invest in bitcoin, except if I will be using my own funds and buy them some bitcoin. I’m sure they’ll have no choice but to learn bitcoin as well in order to manage their investment well as it might only go into waste if they will ignore and won’t be responsible on growing their investment instead.

If you can invest into bitcoin without dragging your parents’ funds into it, then that would be a lot better. As much as we want them to learn and invest into bitcoin, but I don’t think that’s a good idea most especially if your parents are both senior citizens, as they can be highly emotional whenever they’ll see their investment is not doing good. Just invest with your own hard-earned funds, not your parents’ funds, as you will never guarantee winning in such a volatile investment most especially if you are here to make quick profits.

If you have a well-off parents, maybe you can apply that kind of strategy. But for some of us here who are struggling to provide financial assistance to support our parents, that won’t be applicable at all. Instead of making them invest into bitcoin, I think the best idea is just to support them with all that you made from your bitcoin investment. Parents don’t need to earn a living anymore for themselves as they need to enjoy their remaining years, so it’s our obligation as children to provide for them, thus we should be the one making maximum investment with bitcoin.

I did say borrow money from them, and I have already emphasized how this is dependent on the parent you have. Because not all parents are the same. I can easily get some money from my own parents without telling the cause. So it’s also smart if one can gradually or even instantly get money from them to invest. And to show it’s not theft, you tell them what you did. Depending on the parent, they will see you as thoughtful. Would your parent act different? Replying No would make sense as to why you see it as a bad idea.

I'm not really sure anyone will easily understand the contents of the text you wrote in less than an hour because currently reading is one of the most boring jobs. Teaching bitcoin to anyone is not our responsibility, but if we feel it needs to be taught then do it in a way that is more concise and easier for them to understand. These steps can be taken by people understanding the risks, storing bitcoins and how to invest correctly so that when people want to invest they don't make mistakes that result in losing money.

Everyone has their own views when it comes to investing and if their lives are not used to technology then it will be much more difficult to introduce bitcoin. For example, our parents and their previous lives did not really understand technology so bitcoin would be considered the newest investment which was quite risky and they would not easily believe what we explained because in their time bitcoin did not exist yet.

Well allot is in your text but you don't convince a novies with too many words but few words as they are willing to here just a word if truly they give you attention, many parents or whoever one wants to introduce to Bitcoin may not pay attention to this long article or text you has written  starting with such long text can easily secare who would have show interest, roman empire is not built in a day it's gradually process you tell them gradually not by pouring the whole thing just as the written text appeared here.

If your parents are young then you can make them understand about Bitcoin investment but if your parents are older then they will trust only in physical jobs but they will not be ready to invest in Bitcoin. I think if children have their own money then they should help their parents with Bitcoin Investment instead of forcing them to utilise their own money for investment in bitcoin.

Parents work for us for the whole of their life so it is our responsibility to help them with our own efforts when we become able to do so. There are some people who totally depend on their parents and never learn to manage their finances by themselves and do not work to earn money so later in life they must face difficulties because they are unable to work.

Hmm, I didn't agree with your opinion because because Bitcoin is a volatile asset and by investing money in it, you can make profit as well as loss. Thus, if you take money from your parents and invest in Bitcoin, what will you do to your parents if you lose? On the other hand, your parents will also see Bitcoin as a ponzi scheme, although the reality is not like that. 
 
So I think permission should be taken from parents. Because he has money, if they give permission, then fine, otherwise, I don't agree with this stance, and if possible, convince him to say that Bitcoin is a good investment asset, by investing in it, high margin profit can be organized blah blah. In addition to these opinions of mine that I have stated, everyone else has their own opinion on how they treat parents.

I think this would be the last reply on this. You may want to read my previous replies to others. However, I’ll tell you that you may want to look again at what I said. I’m not saying ask them for money for investment. And it doesn’t have to be a huge amount. It can be a miniature amount and they would give it to you (depending on what kind of parents) and at that point, you invest it and tell them that this is what went on. They already gave you the money and you letting them know it was for an investment for them makes it make sense because you’re not being greedy but being thoughtful. It’s not a good or bad idea actually, it depends on who’s applying it.

In investing or doing business everything has risk and in your cousin's case. If at that time he was supported and given money by his parents to do business but the business failed, what would happen next? I guess his parents thought about that scenario and they decided against it. If it were me, I would do the same thing as his parents.

And I applaud your cousin because he does not depend on his parents, does not let anyone stop him from realizing his dream. People with such strong will, even when fail, they will find a way to stand up and continue. His parents made the right decision not to give him money and they created a successful businessman with his own will, not a businessman who only relies on others.

Just as important as investing in bitcoin one should have a fair understanding of bitcoin and be careful. All parents like to make sound decisions about what to do when the market goes bad, investments fail business goes bad. That's why you have to know about the risks first and make sure and then take the right decision. Don't give money unless parents and cousins ​​are sure to give money.

I am impressed to hear your words because in our theology it is rightly said that everything the great creator does is for good. And respect for parents. Maybe his parents were right because my cousin was very eccentric and very stubborn from childhood which is why his parents did not allow him to go into business. You guessed right which surprised me. But it is also true that my cousin has proved himself that he can take all the risks and run the business alone. We all applauded him.

Cousins? To be honest, I don't think it's a great idea to let anyone know about your investments or make financial suggestions or recommendations because we live in a time where you won't get appreciated for the good you do but you will be discriminated for the bad that you didn't even intend to do. What I mean is that if you suggest cryptocurrencies to someone who doesn't have any idea about them and if they go ahead and make an investment only after you tell them, you will need to face the consequences in case they lose their money.

If they buy a cryptocurrency that isn't good because they don't know how to do research or anything, and then when the price of that coin drops or if the project fails, they will blame you for their loss. So it's better that you don't do such things and only keep these things within the family if you know your family members understand you well.