How do you deal with friends/family when they lose their investment?

[Silberman]

I invested on behalf of my husband - and some of my own money - not much - but it is down with about 66%. When he asks how it goes, I say it is fire and brimstone - and that he should just forget about the money for now. It is not much anyway. Compared to the rest of our funds. Of course it would be excellent to have earned a lot of money like you see others have, but for now, I am content with not earning money, and just following the huuuuge dip we are in at the moment. I do hope things turn for the better. For those friends who lost, I dont mention that. It was their own choice.

People are very sensitive about money and I cannot blame them money is a very important part of our lives so the most important thing is if you have a partner is to be completely honest about the way your investments are doing, it can be painful to hear the truth sometimes but it is necessary, so if you took the time to explain to your partner about the possibilities of losing money through your investment then there is not going to to be a problem but if your partner did not understood that clearly then some problems may happen.

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[trk]

I invested on behalf of my husband - and some of my own money - not much - but it is down with about 66%. When he asks how it goes, I say it is fire and brimstone - and that he should just forget about the money for now. It is not much anyway. Compared to the rest of our funds. Of course it would be excellent to have earned a lot of money like you see others have, but for now, I am content with not earning money, and just following the huuuuge dip we are in at the moment. I do hope things turn for the better. For those friends who lost, I dont mention that. It was their own choice.

Awesome example you have there. You invest some amount you afford to lose and voila you and your husband do not really bother with current dip. But yeah, I also believe it will go up again sooner or later. Bitcoin is too big to be fail. Just keep hldong and believing in blockchain potential

[Obito]

If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.

I have some experience with that,  my friend lost in his investment and  we are talking about it and make some funny things out of it to make him happy and think it as a positive thing.  I deal it with more happy and positive things because if you think more on it,  nothing will happen.

[Victorycoin]

You never lose your investment until you cash out. Unless you betting on bullshit coins.

You're talking here to friends and family members, who are most likely not as seasoned or enlightened as you're on cryptocurrency  and don't forget, they are already taking the heat from a plunging market! How easily can one convince a seemingly drowning man?
 
I understand the risk involved in trading or investing in cryptocurrency is enormous and not a thing to be taken lightly, so I personally stay from encouraging people from committing their funds into it until they can appraise the inherent risks by themselves and be able to come up with some pertinent questions.

[Silberman]

If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.

I have philosophical attitude to the people who are interested in cryptocurrencies. This is a risky activity, but it really can be earned on it. I know many people who got rich on cryptocurrencies.

This is why I have stopped telling people about bitcoin, when you mention the possibilities of earning money even if there is a high risk most people will ignore you when you're talking about the risks in the market then they will invest blindly in a coin and they will lose their money and then they will blame you so I only share my knowledge about bitcoin to people that already know what it is and how risky it can be.

[napi]

If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.

before you should remind your family to not trust with fake investments and when it is exposed to fraud then you should not make your family panicked invite them to refreshing to a little forget the incident that just happened to the family.

[Victorycoin]

I currently am holding some bitcoins for a friend which I helped buy for him at $9300. Now he is looking at the charts and seeing that he is losing money, at one point he was going to start freaking out so I sat him down and explained the market to him as much as I could, showed him charts and all that and he is calm for now. Although I don't know how calm he will be if the price drops even lower so I have offered to give him the exact amount he invested in if it turns out he cannot wait.

That's a very hot seat to place oneself and I won't recommend it to anyone! Evidently you only showed him the juicy part of investing in Bitcoin, prior to his handing over some money to buy on his behalf and that actually makes the risk all on you. Meanwhile, you were supposed to have waited patiently to buy only after a bottom is confirmed from a panic selloff, as is mostly the case, because the money involved, you really cannot afford to lose.

Moreover, while it would be easy for you to understand that all what the market needs is just some time, your friend/family member would likely be having sleepless nights, calling your number all too often and barging into your house and in the invent that the waiting gets lengthier, other family members and friends would start murmuring about you! I think it's best to place everything on the table from the onset and let them choose to invest or not!

[Silberman]

I currently am holding some bitcoins for a friend which I helped buy for him at $9300. Now he is looking at the charts and seeing that he is losing money, at one point he was going to start freaking out so I sat him down and explained the market to him as much as I could, showed him charts and all that and he is calm for now. Although I don't know how calm he will be if the price drops even lower so I have offered to give him the exact amount he invested in if it turns out he cannot wait.

That's a very hot seat to place oneself and I won't recommend it to anyone! Evidently you only showed him the juicy part of investing in Bitcoin, prior to his handing over some money to buy on his behalf and that actually makes the risk all on you. Meanwhile, you were supposed to have waited patiently to buy only after a bottom is confirmed from a panic selloff, as is mostly the case, because the money involved, you really cannot afford to lose.

Moreover, while it would be easy for you to understand that all what the market needs is just some time, your friend/family member would likely be having sleepless nights, calling your number all too often and barging into your house and in the invent that the waiting gets lengthier, other family members and friends would start murmuring about you! I think it's best to place everything on the table from the onset and let them choose to invest or not!

Exactly, we need to understand that most people simply do not have what its needed in order to invest in such a volatile market like the market of cryptocurrencies we need to understand that most people are not risk takers they prepare to be safe and to follow the same path as everyone else and not risk it, we are an exception to this that is why we are able to invest in bitcoin and altcoins and obtain profits by holding for a long time.

[fulmetal08larz]

The very first time I told my friends/family about crypto currency, I did not encourage them to invest in it unless they made their own research about it and have experience about stocks. I explained that the price may fluctuate and has higher volatility and risks than the traditional investment vehicles. The risks involved can be managed as well and the funds they invested in it is their sole responsibility. They don't blame me for their losses because they have done their research and they understand the market movement.

[Rubesmatic]

Haha my dad always tells me to let him know when to buy.  I'm afraid to drag him into this for that very reason.
Let people come to the conclusions and make the investment on their own.  Always helps when you do well so they can see that it is possible with timing and patience.

[marabanda]

I had this situation only once. It was my friend ... but I warned him about everything, that this is a big risk and at any moment everything can be closed. Therefore, the response was in principle adequate.

[matthewtherry]

I try to explain them that they didn't loose any coin. It is just the value which went down. I also try to convince them to have more patience

[Joyeeta]

Explaining it to the family is the hardest thing, because when a family member lose money in a investment, you also get affected one way or other.

[CAPTEZECC]

I think it is very important you tutor your friend or family member first on the bitcoin business before allowing to invest. But if you did not do that and the business went bad you should own up to the fault and apologize, share from the loss also so you gain back their trust.

[Michellekking]

If you tell your friends and family about Bitcoin without giving them any sort of in-depth financial advice and they go ahead and invest, how do you deal with it when the market dips very low and they silently blame you for losing them money.

I don't think it will happen to me. But my price and my friends asked me some questions about bitcoin, and I always told them that the price of bitcoin was not stable, and that investing in bitcoins would be risky. So when you persuade your family and friends to invest in bitcoin, you win and say that investing in bitcoin is risky.

[Intersan]

The very first time I told my friends/family about crypto currency, I did not encourage them to invest in it unless they made their own research about it and have experience about stocks. I explained that the price may fluctuate and has higher volatility and risks than the traditional investment vehicles. The risks involved can be managed as well and the funds they invested in it is their sole responsibility. They don't blame me for their losses because they have done their research and they understand the market movement.

Explaining how crypto works to other people is hard to understand unless they try it on their own. I have invited many people to join me here but they just pay attention at the beginning but now that the price of bitcoin bubbled up and that bigger number of people are using it now, they are rushing things out just to get into this business. They often regret not believing me the first time I told them about it. Honestly, I also feel sad for those who were invited before but give no attention because it is very hard to get the rank high now. Normally, the good rank for saving up and in joining signature campaigns is Full Member and above. With the merit, it will be very hard for them to earn money with low ranks and with the feeling like "this account should be in rank ____ like this".

[Yle725]

obviously, you do not have to make any problems or even feel guilty, even if the people in question are family members or friends. In any case, a person before making a large investment must always be well informed about the possible risks. Above all if we consider a market so fluctuating, in which everything is possible.

[al.nechiporuk]

I think it's best not to remember these people. And first of all draw the right conclusions.

[CryptoEnthused]

I try not to talk about bitcoin with people let alone giving advices about investing in it. People tend to blame others for their own mistakes but at the same time they praise themselves even if someone else helped them. If you had told them to invest and bitcoin rose, I doubt that anyone would have remembered that it was actually you who told them to do so. And if you had advised them to invest and it had gone down, they would have remembered and blamed you for sure. It's a lose-lose situation. So you better just be silent about it  If they ask something, tell them to do a research themselves.

[1C6fV5DtakfKANLJ8GUV7hCaA]

I just tell them not to sell and buy constantly. Simple as that. They know how the trend works and they are smart enough to hold onto their coins because there will always be a time when the markets rise.