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Author Topic: How many of you feel ashamed for recommending Bitcoin to family & friends?  (Read 3299 times)
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August 30, 2015, 10:30:59 PM
 #21

1000 is alot of money?

There are plenty of people in first world countries who never have that much available to burn in their entire lives.

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August 30, 2015, 11:27:35 PM
 #22

It's never worth dragging your family and friends into your own private investment fever. What happens will always be your fault. Crash? Your fault. Hacked because they're slack? Your fault. Price goes to the moon? Your fault for not persuading them to buy more.
Sage advice.
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August 30, 2015, 11:28:24 PM
 #23

The mistake you probably did in your case was to talk about bitcoin in a way many people do: only as an investment.. If you mentioned that bitcoin can be
used to refill cards, be used to transfer money with very low fee or anything similar rather than just investment; you would carry no responsibility for financial
mistakes people made (the ones you talked into bitcoin) by buying it and trading.
Bitcoin was created to be used, and not only to be held in hope of greater prices on the market.

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August 31, 2015, 03:52:36 AM
 #24

Bitcoin isn't going anywhere. Just sit tight and you'll be a winner at the end.

This is naive, at best. Bitcoin was never made to be a get-rich-quick scheme. It's a method of transferring wealth. If it were a guaranteed way to profit, every hedge fund/investor in the world would be all-in on it. Hint: it's not guaranteed, and it's HIGHLY risky.
How is it naive ?

Never said this :Bitcoin was never made to be a get-rich-quick scheme......

People who treat Bitcoin as other then a qet rich quick scheme are going to win in the end...

"Just sit tight and you'll be a winner at the end." This insinuates that the price is going to go up. If someone bought in at $1200 (peak), it means it would have to go back up there. Otherwise, how could they possibly "win?"


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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August 31, 2015, 03:59:51 AM
 #25

Nothing to be ashamed about, it's like saying the same thing about stocks or forex

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August 31, 2015, 04:10:40 AM
 #26

Peoples are made by buying it.it is greater prices in the world and market.it is same thing about stocks Smiley

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August 31, 2015, 04:11:23 AM
 #27

No way am I ashamed. Nobody bought on my advice though. Probably a good thing. Everyday I learn more about proticals, blockchain tech, advancements in the community and it invigorates my excitement for this space.

I bought around $700 back in November 2013. Even loosing the 60%~70% price from the high I continued to buy threw, I'm up threw trading. Not much but it's a plus! HODL!

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August 31, 2015, 04:38:49 AM
 #28

no it's not ashamed for me to share btc with my family and friends because btc is very good digital currency!!!!
 I am also sharing and teaching btc to all my friends on whatsapp so I'm happy to share it with my friends.....
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August 31, 2015, 05:50:30 AM
 #29

Not at all... Everyone laughs with the price drop of the last 20 months, but I don't care.
I talk about bitcoin all the time, even till the point where people arround me start to get irritated about it Tongue

In the end, you've never forced them to buy anything, right?
I know some people who bought some coins when they were arround $400-800, because I told them it may be a good investment.
No one of them is angry at me... If you see bitcoin as a long term investment, just wait and see, your friends/family who bought at $1000 will still make profit in the end...

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August 31, 2015, 06:09:41 AM
 #30

Don't feel ashamed my friend. Bitcoin is first of all (first of being a currency) a wonderful technology which has a disruptive power and will change the world of technologies in the same way make internet in its times. So be honored and have faith. The future is clear and unchangeable for bitcoin. Splendid.
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August 31, 2015, 06:41:59 AM
 #31

i'm feeling more ashamed when they want to know the price of bitcoin, with all those big random swing

other than that it's like declaring that you're interesting in a new form of money, nothing wrong with it
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August 31, 2015, 06:47:25 AM
 #32

I know exactly how you feel. A few years ago I got into a <network marketing> thing, and I did very well. When I felt it was safe, I introduced my family to it because I received good monthly payment for 13 months and I already reached ROI and made a huge profit.

They entered into it, based on my success and they invested $1000 each. After two months it turned out to be a
very clever Ponzi scheme and they lost almost everything when it collapsed. I took my profits and divided it between them to make up for their loss. In the end, I made the biggest loss of all of them, because I had to re-fund them from my savings.

I did not have to do that, but I felt it was the right thing to do at the time. They think everything I do now, is too high risk for them, and they do not want to listen to anything when I talk about Bitcoin.

I know Bitcoin is not a Ponzi and I accepted that they will never believe me again. I just hope I can prove them wrong with this in the future. My advice to you, would be to discuss the risks involved with any investment before you discuss it with your family or friends. If they know about the risk, they cannot hold you responsible for the loss.
  

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August 31, 2015, 06:50:29 AM
 #33

I feel ashamed only because I can't answer all of their question.
Some questions are too technical that for someone who just buy and use bitcoins can't answer.

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August 31, 2015, 07:28:22 AM
 #34

I started buying bitcoins back in summer of 2013. I was so excited by this new technology and when the price shot up in November, my excitement became contagious. My brother bought a bitcoin for $1000 from me, my mother asked me to buy her one too also at $1000, my niece bought a tenth for $100, my boss bought a few from coinbase, a co-worker bought a few dozen or so until the price dropped to $800. He died about a year later and his family threw away his computer. So those were all lost.

I continued buying in 2014 and then spent a bunch early this year to take care of some things. Anyway, I went over my buys & sales, and discovered that my remaining couple dozen bitcoins cost me around $500 each, despite my use of cost averaging. And I know I did much better than all the people that I know who started buying later than me.

Now I am ashamed to even mention Bitcoin. Everyone I know has lost money and a lot of it. If they ask me about it, I refuse to talk about Bitcoin.

Don't get me wrong, I still love the concept. I am sure the technology will take off in a decade or two. I even use it to send money overseas (using bitpesa) and to fill phones (using bitrefill) all the time.

Anyway, just curious to hear how you all deal with the bitcoin shame from friends & family.


This is a hard pill to swallow, what you have written and experienced. I have invested in 1 alt and it's value has gone down considerably, and this eats me away daily, even though I am in a green on my whole crypto investment, so I know how you feel.

If there is some consolation, I think that Bitcoin and the blockchain technologies are here to stay in the future. And that the price will surpass one day again $1,000 and that my all will recover in price. All we can do is hold and not sell at the moment of this bear market throughout the whole crypto industry.
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August 31, 2015, 07:34:47 AM
 #35

i dont feel ashamed to introduce bitcoin to anybody..
first of all.. when people lose their bitcoin, its because of their own mistake not mine.,
sometimes or almost all of them go to gambling thats why they lost it...
but after i introduce bitcoin. im always teling them not to gamble it because it is real money.
and they should not risk what they work hard. instead. i told them just to earn, from investing or sig. camp.
and i think they where all happy with it. so the one thing is it all depends on people using it.
not from people who introduce it to them.so dont blame yourself man. chin up.


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August 31, 2015, 07:36:52 AM
 #36

1000 is alot of money?

maybe it is just few for you.. but for some people it is already that big...
a lot of people around the world is poor so you can never say.


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August 31, 2015, 07:38:44 AM
 #37

i don't feel ashamed for introducing bitcoin to my family and friends its just
that they are not that interested to bitcoin after telling them
what it is all about and its potentials

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August 31, 2015, 07:51:35 AM
 #38

I started buying bitcoins back in summer of 2013. I was so excited by this new technology and when the price shot up in November, my excitement became contagious. My brother bought a bitcoin for $1000 from me, my mother asked me to buy her one too also at $1000, my niece bought a tenth for $100, my boss bought a few from coinbase, a co-worker bought a few dozen or so until the price dropped to $800. He died about a year later and his family threw away his computer. So those were all lost.

I continued buying in 2014 and then spent a bunch early this year to take care of some things. Anyway, I went over my buys & sales, and discovered that my remaining couple dozen bitcoins cost me around $500 each, despite my use of cost averaging. And I know I did much better than all the people that I know who started buying later than me.

Now I am ashamed to even mention Bitcoin. Everyone I know has lost money and a lot of it. If they ask me about it, I refuse to talk about Bitcoin.

Don't get me wrong, I still love the concept. I am sure the technology will take off in a decade or two. I even use it to send money overseas (using bitpesa) and to fill phones (using bitrefill) all the time.

Anyway, just curious to hear how you all deal with the bitcoin shame from friends & family.


Why be ashamed?

They didn't buy it because of you ...as a grown up person they bought it because they found it interesting. If they're pointing finger at you they need to grow the fck up and learn to take everything with grain of salt.

I told people about bitcoin and lot of them bought it..some of them lost money but I told them in the begining that they have to hold it for long term (10-20 yrs) to see any real development and price change and they were okay with it...lot of them still hold it and they bought more.

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August 31, 2015, 08:22:52 AM
 #39

Feel ashamed for what Huh i don't understand what op want to say his story is little bit confused so when we are going to invest in any industry so it comes with risk factor and that nature of any kind of investment.
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August 31, 2015, 08:32:46 AM
 #40

I tell them that I buy and hold bitcoin for the idea, and the hope that one day it'll be more mainstream. It's kinda like buying AAPL back in the old days...



It's inevitable that bitcoin would have its ups and downs like any new commodity/stock, but just remember that if you don't sell, you don't actually lose.

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