How convincing can one persuade close relatives to join bitcoin investment

[Harrisonimo]

Well, I have started making some few cash from this and really will like those around me to partake. But people around have been put down because of ponzi and when bitcoin is being talked about all they see is Ponzi! How does one really get to re-orientate?

[Iranus]

Don't.  It's a terrible idea to try and get people involved in your decisions when it involves money.

If the price drops, they will blame you, whether vocally or subconsciously, and they won't like you for it.  Since that's pretty much 100% likely to happen at some point, it'll be extremely damaging to your reputation with your family and friends.

Well, I have started making some few cash from this

If someone spoke to you saying "I've been making loads of money from this new blockchain digital peer-to-peer fancy crazy thing, now I have cash!", and you knew nothing about BTC, would you honestly not think it was a Ponzi scheme?  If I didn't bother to research it, I sure as hell would. 

Your mentality is utterly wrong anyway, since you're trying to earn fiat money rather than actually use or hold BTC in any way.

[Oroplata]

Teach them first how to earn bitcoin without investing or drawing money from their pocket. Guide them to join bounty campaign and any social media task that pays crypto currency.

[Mometaskers]

Not really convincing them since that can cause problems later. They'd probably panic when they see a price drop and pester you about it and then you'd end up hating each other.

Better just inform them what it is and that you have invested. Never pull them into this. If they are interested, they'd reach out and ask you to help them set up things.

[SamReomo]

Well, I have started making some few cash from this and really will like those around me to partake. But people around have been put down because of ponzi and when bitcoin is being talked about all they see is Ponzi! How does one really get to re-orientate?

You don't need to convince them directly as many people who are very less knowledgeable about Bitcoin will not easily be influenced by it. First of all, you should show them some proofs of others earnings and also your own earnings. Then show them the price chart of the Bitcoin to influence them a little more about the legitimacy of the Bitcoin. After that you should show them the Bitcoin sellers to make them understand how much potential it has. You should be as real to them as possible, but if you emotionally tell them that they can make a lot of money then they will most probably find it as Ponzi. Show them the reality, if they're little bit intelligent they will know the rest.

[CryptoTamer]

You want to convince people who are not interested in bitcoin? you just spend time for it.

if you manage to convince them, are you sure they will succeed with bitcoin? what happens if they fail or loss?

[bamboylee]

What exactly are you convincing them to do? Become a bitcoin investor or do campaign for bitcoin? Sometimes it is hard to convince others to do extra work for bitcoin like we do in signature campaign. Some people are not into this. Having extra money is not enough motivation. But maybe if you can present bitcoin like an investment or a retirement fund that keeps growing or show them how it grown in the past year, they may have something to think about and maybe convince them to get bitcoin.

[HabBear]

The single most important thing that has gotten my friends and family to pay attention (and not mock) when I talk about Bitcoin is the growth of price. That doesn't mean that these people are buying into it yet, but they're paying more attention.

The best way to get people comfortable with it is to talk about it in real terms. What did you buy with bitcoin this week? Share that experience with people who are totally new to bitcoin...the more basic and "everyday" the purchase the better.

You can't change the news and the media isn't going to tell stories about "man buys coffee today with bitcoin!" they're going to tell stories about "thugs hold hospital information hostage, demanding bitcoin ransom!"

Remind people that the currency that leads the world in use for criminal activity is the US Dollar. Does that mean that the Dollar is a ponzi scheme? No. (Ok...some of you will disagree). If criminals want to use the currency it is a testament to how easy it is to use. Period.

[h0lybyte]

Bitcoin is not for unacquaint people.It is dangerous enough to those who do not have even basic knowledge and you want to involve the whole family in it?
If you are representing bitcoin to others as a source of unearned media,it is likely to drive a plane without driving experience.
Teach them well so they will not blame you for any loss.

[skorupi17]

Well, I have started making some few cash from this and really will like those around me to partake. But people around have been put down because of ponzi and when bitcoin is being talked about all they see is Ponzi! How does one really get to re-orientate?

Well they will just listen to you after you gained so much from it. Even though they did not care at the beginning, they will come to you eventually after you proved them wrong. That is just about it. People are scared when it comes to investment so we cannot blame them. The part when you enlighten them about Bitcoin is enough.

[Al Amin]

Better to teach them about bitcoin first, do not directly ask for investment. Learn from the beginning eg create an account to enter this forum and care account minimlah "jr". let me join the signature campaign. Although it will be the most important small result can make them to believe.And there are results even without the investment, later if it is so your brother there will be confidence that this is not ponzi

[Netnox]

Know what? I tried my bit in 2014. One of my relatives invested $10,000 in Bitcoin, after I managed to convince him about the benefits of the digital currency. But nothing worked as per the plan, and he booked losses and exited in 2016, when the exchange rate was around $250 per coin. I got a lot of flak for his losses. But if he had held on to his investment, then he could have got 400% returns.

[HabBear]

Know what? I tried my bit in 2014. One of my relatives invested $10,000 in Bitcoin, after I managed to convince him about the benefits of the digital currency. But nothing worked as per the plan, and he booked losses and exited in 2016, when the exchange rate was around $250 per coin. I got a lot of flak for his losses. But if he had held on to his investment, then he could have got 400% returns.

Wow. And what was the exchange rate when the relative bought in with their $10,000?

I'm curious how much that balance would be worth today. At least $43,000, but it could have been significantly more.

When talking to relatives about this tell them to buy an amount in bitcoin they'd be willing to lose. Tell them to think about it like a bet and the conclusion of that bet is years in the future. Would you pay $500 for the opportunity to make $5,000 or more and at worst get the entertainment of watching the Bitcoin rollercoaster for that time (for the $500)?

[Aveatrex]

Well, I have started making some few cash from this and really will like those around me to partake. But people around have been put down because of ponzi and when bitcoin is being talked about all they see is Ponzi! How does one really get to re-orientate?

I think that first of all you have to explain to them what's an ponzi.
Bitcoin cannot be a ponzi as mathematically you own them and their value is determinated by the market.It's true that now many companies used the fact that you cannot reverse transactions to make "bitcoin doublers" that promise to double your bitcoin deposited and those are ponzi/hyip (high yield investement program) that will steal your money.
Ponzis and hyips are illegal while bitcoin is legal in most countries.

[haroldtee]

Do not impose anything on anyone. Find a way to share any ongoing news to them. There are lots of pages with news on bitcoin on facebook and tweeter. Share those news (positive ones though) like price increase, adoption by countries, predictions from top economists and so on and so forth. This is what I have always done anyway. They will call you to explain more to them as time goes on. Also, once they start seeing the outcome in you life, they won't be told what to do.

[subSTRATA]

Not really convincing them since that can cause problems later. They'd probably panic when they see a price drop and pester you about it and then you'd end up hating each other.

Better just inform them what it is and that you have invested. Never pull them into this. If they are interested, they'd reach out and ask you to help them set up things.

that's one very great point to make, you shouldnt really try to convince someone to put their money into something they have no knowledge or interest in, in this case, their panicking from the regular price fluctuations is probably a very likely outcome considering their lack of knowledge in the subject. if anything, see if they want to learn about bitcoin and cryptocurrencies in general before anything else, see if its something they want to put money into of their own accord. there's too much perceived negative air surrounding bitcoin to the ignorant for one to feel comfortable putting money into it (thats my thinking anyways).

[tyuner4]

It is nice to share but sometimes it is hard to convince others to do something they are not interested in, especially something to do with money. Hence I will suggest to just share about Bitcoin and if they are interested, they will invest naturally.

[azhar700]

It all depends on your initial discussion with those people. what do you suggest? If asked to participate in investment, will be difficult if instant. Maybe you think investing in bitcoin is very promising profit, but not necessarily for those you want to suggest. Need to learn, bitcoin prices can at any time down or up, are they ready to bear the risks when the price drops? and they feel harmed by you, in the end you are blamed and maybe even ostracized by them.

[hatshepsut93]

First, you should realize that giving investment advises is a huge responsibility, if your advice will cause them a loss, your relatives might become very angry at you, especially if they had invested some big amounts. You should emphasize to invest only amounts they are willing to lose, so in worst case they will not suffer too much from a loss.

Now, about convincing them, it's not very hard - just make them understand Bitcoin technology, tell them that it's valuable because of its fundamental properties. Tell them that Bitcoins full potential hasn't yet been uncovered, so it's possible to get very high returns in the long run, by being an early adopter.

[Gloria_16]

Show them how in time you increased your capital with the help of bitkoin