Many friends of mine which I convinced them to buy a minimum of 0.01 bitcoin or to use their devices to mine because some of them have the AMD Ryzen 1700x processor which makes about 1 or more dollars daily are haunting me now because they think that bitcoin will be memories like the dotcom was in the year 1997-2000. I just read on Wikipedia for thedotcom and I think they are not the same as bitcoin because bitcoin relies on blockchain technology which is better than dotcoin.
Any arguments from the forum to shut their mouth because I am starting to get bored and pissed by their behavior, I helped them while they think I cheated them.
Here's what I think matters when did you convince them to get involved.
What was the pricepoint and how did you go about "convincing" them.
I only got actively involved in Bitcoin last June, and couldn't belive the growth that followed, I did well and made my ROI on all hardware, and was able to sell the used hardware I started out with.
Then I saw the growth quickly turn into the FOMO frenzy it became. When BTC was topping 9000-12000 and continuing up I told everyone I know who asked to not buy BTC. I explained the trend and rise to them while also relaying the knowledge I had about the network (while still learning myself). What I did say was there will be a correction, I told them if you see it hit 10 000 (CAD) and hold there then think about buying in and seeing how things play out.
I had some people come to me saying look I could have made 1000$ if I had bought, and I asked them would you have sold or held it anticipating a larger jump. They come to me now and say thanks for the advice. I know myself I get caught up pretty quick but I've also realized a cool head often prevails, and there's no shame in missing out on something because it could always be worse.
The reference to the DOTCOM bubble is that everyone at that time was investing in something they didn't fully understand because they heard they could get rich without fully understanding what it was. It was the same FOMO frenzy people went through then.