Would you encourage your friends or family to buy BTC?

[zachcope]

I'm in BTC for the long haul as it supports a healthier global economy (based on real investment not debt and pension raiding) as well as my own goals to increase my purchasing power and keep my wife happy!

I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.

Would you therefore encourage friends or family to speculate on bitcoin? Would you feel bad if they did and bitcoin broke and became worthless? Would you avoid talking about this to avoid this risk?

Just interested in your views on this.

[1715478911]

1715478911

[Birdy]

I recommend them buying just 1 Bitcoin,but I'm not suggesting to invest big in this unless they are also doing other speculative stuff like stocks.
Or for those playing lotto: "it's like a lottery ticket with a better chance of winning"

[andrewsg]

I wouldn't encourage my family to "speculate" on bitcoin - but I would encourage those in my family with a lot of liquidity and other assets to have a look at it and consider investing a small % of their net worth in bitcoin, as a long term investment, to diversify from all the other asset classes they already own. And I wouldn't feel bad if it went south, after all, they are all adults of sound mind and judgement.

[samson]

I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.

How is it possible that a low 2 digit dollar value is less likely than zero.

Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero.

So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values.

 

[drakahn]

I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.

How is it possible that a low 2 digit dollar value is less likely than zero.

Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero.

So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values.

 

If its worth $X and something happens to make it worth $0, who will be paying $2 for it to go to $2 "on the way"? ...

[BitSmile]

My mother has a 5BTC cold wallet, bought at ~30$.

[samson]

I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.

How is it possible that a low 2 digit dollar value is less likely than zero.

Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero.

So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values.

 

If its worth $X and something happens to make it worth $0, who will be paying $2 for it to go to $2 "on the way"? ...

Many people will trade it all the way down to zero. And I believe pretty much any problem could be fixed given time.

People closing shorts springs to mind.

[Rampion]

I bought 100BTC for my dad when the exchange rate was $20.

Those are in a paper wallet and will not be moved for at least 5 years.

[Coinseeker]

I would only recommend Bitcoin to family if they wanted to come in and make a quick buck.  Otherwise, I'd recommend something with a better shot at long term viability and worldwide adoption, like Ripple.  In fact, that's exactly what I do.  

[Rampion]

I would only recommend Bitcoin to family if they wanted to come in a make a quick buck.  Otherwise, I'd recommend something with a better shot at long term viability and worldwide adoption, like Ripple.

LOL

[crumbs]

I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.

How is it possible that a low 2 digit dollar value is less likely than zero.

Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero.

So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values.

 

If its worth $X and something happens to make it worth $0, who will be paying $2 for it to go to $2 "on the way"? ...

I'm not sure $0 Bitcoin is likely.  Imagine the worst case scenario, where you can no longer buy *anything* with Bitcoin:  
I, for one, would gladly spend $10 to buy up the world's supply of Bitcoin, simply to be able to say that i own something once worth billions of dollars, an intangible, improbable & counterintuitive thing which trolled the financial sector like a boss, the purely digital entity on which so many hopes & dreams drove, throttle floored, into oblivion.

I'd also buy up some (at that point, 100% useless) ASICs -- simply because i love defunct tech -- and mine.  I once restored a 1943 microwave spectrum analyzer.  Was a huge chunk of rack gear, with a waveguide sticking out of the side.  I had 0 use for it, and 0 plans for reselling it.  I just dug it.  

TL;DR:  Bitcoin's too neat to die.

[lucas.sev]

I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.

How is it possible that a low 2 digit dollar value is less likely than zero.

Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero.

So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values.

 

If its worth $X and something happens to make it worth $0, who will be paying $2 for it to go to $2 "on the way"? ...

I'm not sure $0 Bitcoin is likely.  Imagine the worst case scenario, where you can no longer buy *anything* with Bitcoin:  
I, for one, would gladly spend $10 to buy up the world's supply of Bitcoin, simply to be able to say that i own something once worth billions of dollars, an intangible, improbable & counterintuitive thing which trolled the financial sector like a boss, the purely digital entity on which so many hopes & dreams drove, throttle floored, into oblivion.

I'd also buy up some (at that point, 100% useless) ASICs -- simply because i love defunct tech -- and mine.  I once restored a 1943 microwave spectrum analyzer.  Was a huge chunk of rack gear, with a waveguide sticking out of the side.  I had 0 use for it, and 0 plans for reselling it.  I just dug it.  

TL;DR:  Bitcoin's too neat to die.

I like how you did not mention the S word.

[crumbs]

I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.

How is it possible that a low 2 digit dollar value is less likely than zero.

Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero.

So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values.

 

If its worth $X and something happens to make it worth $0, who will be paying $2 for it to go to $2 "on the way"? ...

I'm not sure $0 Bitcoin is likely.  Imagine the worst case scenario, where you can no longer buy *anything* with Bitcoin:  
I, for one, would gladly spend $10 to buy up the world's supply of Bitcoin, simply to be able to say that i own something once worth billions of dollars, an intangible, improbable & counterintuitive thing which trolled the financial sector like a boss, the purely digital entity on which so many hopes & dreams drove, throttle floored, into oblivion.

I'd also buy up some (at that point, 100% useless) ASICs -- simply because i love defunct tech -- and mine.  I once restored a 1943 microwave spectrum analyzer.  Was a huge chunk of rack gear, with a waveguide sticking out of the side.  I had 0 use for it, and 0 plans for reselling it.  I just dug it.  

TL;DR:  Bitcoin's too neat to die.

I like how you did not mention the S word.

I'm honestly* not invested, one way or another.  You think i'm spreading /-elmer -d?

*You have no reason to believe me

[zachcope]

I would only recommend Bitcoin to family if they wanted to come in and make a quick buck.  Otherwise, I'd recommend something with a better shot at long term viability and worldwide adoption, like Ripple.  In fact, that's exactly what I do.  

Fortunately I'm not in the Ewing family so wouldn't shaft my family with that ripple crap.
 

Re ripple, if Bitcoin can make anyone a banker, Ripple can turn anyone into a loan shark.

[zachcope]

I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.

How is it possible that a low 2 digit dollar value is less likely than zero.

Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero.

So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values.

 

If its worth $X and something happens to make it worth $0, who will be paying $2 for it to go to $2 "on the way"? ...

I'm not sure $0 Bitcoin is likely.  Imagine the worst case scenario, where you can no longer buy *anything* with Bitcoin:  
I, for one, would gladly spend $10 to buy up the world's supply of Bitcoin, simply to be able to say that i own something once worth billions of dollars, an intangible, improbable & counterintuitive thing which trolled the financial sector like a boss, the purely digital entity on which so many hopes & dreams drove, throttle floored, into oblivion.

I'd also buy up some (at that point, 100% useless) ASICs -- simply because i love defunct tech -- and mine.  I once restored a 1943 microwave spectrum analyzer.  Was a huge chunk of rack gear, with a waveguide sticking out of the side.  I had 0 use for it, and 0 plans for reselling it.  I just dug it.  

TL;DR:  Bitcoin's too neat to die.

Fair enough you've changed my mind.
I meant to say 'Crash or to the Moon'.
It would also never be $10 for the world's supply, as I would buy it at $11 for the lulz.   

[KSV]

most definitely, already did so.

[ThatDGuy]

most definitely, already did so.

I encourage them to be aware of it and then make their own decisions.  After enough time learning about Bitcoin's fundamentals and brief (yet resilent) history - it seems like an asset to at least have some of in a portfolio.

[MonadTran]

I tell people the facts when it is appropriate and would not ruin the conversation. I tell people about my own decisions. They make their own decisions after that.

[XXthetimeisnowXX]

YES AND ALL FOUR WHO TOOK THE ADVICE HAS MADE MONEY.

[mb300sd]

Told them repeatedly last summer around $5, noone listened.