Bitcoin Forum

Hi everyone,
Cryptocurrencies are booming, and is a good idea to get into it now. A friend of mine watched a documentary about Bitcoin and saw the negative news. Afterwards, he is completely stuck and will not trust in any online payments, especially any cryptocurrencies. What do I need to do to get him back to normal again? Anyone have positive news about Bitcoin that I can let him know?
Thanks

It's a risk no matter what coin you invest in. Total speculation. They can go up to $20,000 or fall to $0.0000001 or some shutdown altogether. It is riskier than mutual funds and most stocks. But you can lose your butt in the stock market also. It depends on what you want to invest in. Instead of bitcoin maybe he would want to buy some newer coin at $0.005 for a few bucks. If it goes up he may make a lot of money. If it goes down then he is not out much.

I would say don't worry about being a cryptovangelist and converting people to the idea. I have many friends, associates, and family members that simply will not believe in the idea or give it a try. I remember telling someone about it back in June when it was under $2k and telling them to buy bitcoin and they wouldn't and back in November they said "it will still crash so who cares" lol, but I guess they would have cared a little making $8k-$15k per bitcoin depending on if you sold or are still holding.

"Trust in Numbers"  Its a trustless set up from the point of humans.  Theoretically, you only need to trust algorithms.  This space (minus ethereum) is all about unstoppable code

You have to educate him about the whole "blockchain" thing. The more knowledge he get, the more he will start to trust in bitcoin. You don't get educated about bitcoin by just looking a documentary video.

I would suggest that a beginner learn about...

1. Blockchain
2. Ledgers
3. Transactions
4. Miners
5. Double Spending

Anyone feel free to add more...

I think YouTube offers tutorials that are very easy to understand even for the non-technical type of people... It's better to just watch YouTube guides for easier understanding.

I totally agree with you. To be honest, I learned majority of things from YouTube when I had complications in the cryptocurrency area.

Tell them that every investment is a risk, tell them that crypto does not work with supply and demand and tell them that crypto is unregulated which means that the people around him have more power than banks! have him watch the Video of Paxful when they created the school in africa

Bitcoin investment is a risk ..
And you know that higher the risk higher the profit...

It's very hard to get someone to trust bitcoin if you are just a regular guy. In order for them to trust something it needs to be reflected from you. Like for example if you are crazily rich person right now because of bitcoin and if you preach it to the guys around you the chance for them to trust you will be high because the good side of the bitcoin shows in you. Now if you belong to those that haven't made much $$ out of bitcoin it will be very hard for you to explain and convince them even if you have a high technical knowledge about it.

In fact, it is a closed system of human beliefs. And punch her hard.

why do you want him to trust again bitcoin? if the reason you want him/her to convert to BTC is to let him try to invest/buy BTC then don't. what if the price of BTC suddenly collapse the person he/she gonna blame will be you.if he  cannot take the risk then don't

Try getting him on-board with blockchain technology, maybe if he sees what btc is built on he'll see some benefits.

Let them browse the good and bad habits of Bitcoins! The easiest example would be buying gift cards to trade for BTC

just show him some result. work out for yourself first to earn from bitcoin.