Bitcoin Discussion

[Crptomagma]

Lots of people are still considering the risk investing in bitcoin. The fact that bitcoin price is increasing almost on a daily basis makes it more scary for them. A friend once asked me “What if the price falls ridiculously “? At that point I was almost dump folded and beginning to panic within myself. I was trying to convince him to see reasons with me on why he should invest in bitcoin and now I’m shivering with his questions. Is there any assurance to give  people especially in time of discussing bitcoin with a friend or family member as a bitcoin enthusiast?

[mk4]

What "assurance" do you need? Your friend is actually right, bitcoin CAN definitely crash significantly. And if that makes you shiver, it's either you're over-invested, or you simply don't know what you're investing in; because most of us here are totally aware of price crashes because big price movements is really nothing new with bitcoin.

[Kupid002]

Lots of people are still considering the risk investing in bitcoin. The fact that bitcoin price is increasing almost on a daily basis makes it more scary for them. A friend once asked me “What if the price falls ridiculously “? At that point I was almost dump folded and beginning to panic within myself. I was trying to convince him to see reasons with me on why he should invest in bitcoin and now I’m shivering with his questions. Is there any assurance to give  people especially in time of discussing bitcoin with a friend or family member as a bitcoin enthusiast?

if you are afraid of going bankrupt it is only right that you be scared because it is really possible that it will fall because it is already in ATH and there is a correction that is possible to happen any time but if you are looking for long term there is no problem with the price but if you are afraid then wait for correction before buying.

[CODE200]

The only thing you could do is to share your point of view about something, perhaps in this technology as it is the case. We really cannot force other people to invest in Bitcoin or other cryptocurrencies if they are having doubts. Allow them to decide for themselves and also, do not let other people affect your decisions regarding your money. It is okay to consider other perspectives of something but always settle for your decision. There's no assurance on any investment. Risk will always be present and losing is part of the 'game'. If that's your concern, we just really cannot do anything about it. It takes courage in order to invest or start something, in which all of us need to build up in order to seek for betterment. Casually share why did you invest in the first place. That would be a good start I guess if you are wanting to encourage someone towards your vision.

[Ucy]

Advice them to avoid investing what they can't afford to risk.  
Better to invest small portion of your money in Bitcoin than spend it on unprofitable/unhealthy things like junk foods, drunkenness,  unnecessary things etc. I think this is one of the most sensible and less risky ways to get people invest without worrying too much about their blames if things don't work out fine for them.

[BrewMaster]

Is there any assurance to give  people especially in time of discussing bitcoin with a friend or family member as a bitcoin enthusiast?

yes there is an excellent "response" that you can give them, which is what i always use.
bitcoin is NOT an investment; it is a currency.

although you can still worry about the "currency" devaluation but when you look at bitcoin as a currency you no longer worry about "crashes" that much.

[KonstantinosM]

I never advise people to invest in Bitcoin. Quite the opposite, I tell them why it's such a disruptive technology and then I tell them that I don't think it's a good idea to invest in bitcoin because the price is really unstable. If they then go on to research bitcoin by themselves and invest it's only because they came to that conclusion themselves. In that case they took the risk themselves. I'm not talking anyone into it.

There was one exception. I told a close relative of mine to buy bitcoin when it was at the $8 to $13 dollar range. And they told me it's too expensive. And even then, I mentioned the risks of buying bitcoin.

[Sterbens]

Is there any assurance to give  people especially in time of discussing bitcoin with a friend or family member as a bitcoin enthusiast?

I will try to examine the word guarantee here, does it mean "profit"?
if based on a discussion of bitcoin with all its advantages and disadvantages depending on how the decision was found. What was the result of everyone gathered agreeing to invest their money in bitcoin? I think they will be scared the way you feel. because the price will occasionally fall because it has reached the highest ATH of all time.

secondly, the nature of bitcoin does not have an agreement that guarantees bitcoin owners, because bitcoin does not take anyone's side. if they dare to invest in bitcoin, don't just see the benefits. but must be prepared with the risk if the price falls in the future. Bitcoin cannot guarantee anything, as the decision when making a sale or purchase rests with the merchant.

[wxa7115]

Lots of people are still considering the risk investing in bitcoin. The fact that bitcoin price is increasing almost on a daily basis makes it more scary for them. A friend once asked me “What if the price falls ridiculously “? At that point I was almost dump folded and beginning to panic within myself. I was trying to convince him to see reasons with me on why he should invest in bitcoin and now I’m shivering with his questions. Is there any assurance to give  people especially in time of discussing bitcoin with a friend or family member as a bitcoin enthusiast?

Sorry but there are not assurances to be made, investing and trading are both risky activities in which the person doing it is completely responsible for their actions, not only that investing in any asset when it is raising in such a dramatic fashion can be even more risky, many of the holders that you are seeing cheering for the increase in the price are people that have been here for years and even if the price were to crash they will still be in profits which is what gives them such a calm demeanour.

So if you feel uncomfortable investing in bitcoin when its price is so high then do not do it, does this means you could lose a big opportunity to make money? Yes but that is just how investing works.

[Nikole Fischer]

Lots of people are still considering the risk investing in bitcoin. The fact that bitcoin price is increasing almost on a daily basis makes it more scary for them. A friend once asked me “What if the price falls ridiculously “? At that point I was almost dump folded and beginning to panic within myself. I was trying to convince him to see reasons with me on why he should invest in bitcoin and now I’m shivering with his questions. Is there any assurance to give  people especially in time of discussing bitcoin with a friend or family member as a bitcoin enthusiast?

It's totally normal that people are wary of the topic of investment. I show such people how bitcoin has grown over the past years. The price of bitcoin once fell but now we're seeing how much it has risen and that it's breaking records every day. I think you should explain to them that bitcoin is a good investment in the future. They can buy it and keep it until they're ready

[Darker45]

No, there is none! And you shouldn't give anybody any kind of assurance that everything will be fine if they decide to enter into Bitcoin.

Your friend's question is very legitimate and everybody who is hodling Bitcoin should have confronted it one way or another. That is a risk which you cannot erase from Bitcoin. The potential is very sweet and enticing but the risk is also there along with it. And you cannot discount it. Nobody imagined that after hitting $20,000 in 2017, Bitcoin would fall down to as low as $3,000.

If you listen even to people who are aggressively promoting Bitcoin, they fall short of giving assurances and guarantees. They still drop the basic advice to not invest what you cannot afford to lose into Bitcoin.

[Lorence.xD]

What "assurance" do you need? Your friend is actually right, bitcoin CAN definitely crash significantly. And if that makes you shiver, it's either you're over-invested, or you simply don't know what you're investing in; because most of us here are totally aware of price crashes because big price movements is really nothing new with bitcoin.

Crash is imminent but that does not mean that OP should be scared of that. It can be an opportunity to buy more bitcoin out of your money. Like what the quote above says, you either did what was said, or you do not believe that growth will still be possible and that this run is a short live one. To be honest with you OP, do not convince your friends to invest in bitcoin it makes you annoying to them and let your success from invest show so they know that you are not just all talk, they will regret not listening to you.

[wajik-tempe]

Lots of people are still considering the risk investing in bitcoin. The fact that bitcoin price is increasing almost on a daily basis makes it more scary for them. A friend once asked me “What if the price falls ridiculously “? At that point I was almost dump folded and beginning to panic within myself. I was trying to convince him to see reasons with me on why he should invest in bitcoin and now I’m shivering with his questions. Is there any assurance to give  people especially in time of discussing bitcoin with a friend or family member as a bitcoin enthusiast?

We cannot despite the fact bitcoin also crashed back in 2018 when the price already reach 20k at that time, so it's not easy to convincing anybody to invest in it. But lately the price was exploding even until right now it's continue growing and it must be hooked many people attention. But with this condition we still cannot assure that bitcoin price will continue grow and worth the investment, but at least we can give them evidence of our profit that we already made.

[dupee419]

Best way on giving them the best assurance is by giving your thoughts and your experience, if you have 0 experience in investing then it will definitely be difficult, but if you do have then just simply share yours and they'll probably understand it and give it a try, the price may be at high right now and could fall anytime but with this high of a value, I don't think they'll have doubts once the price goes higher.

[lovesmayfamilis]

There are people who, by their very nature, love to take risks. Bitcoin is for people like that. If your friend is an adventurer who loves new trends, loves freedom, and does not count his funds from paycheck to paycheck, he will like Bitcoin. You can assess his abilities.
If we talk about investments, then I can say that any investment can always be risky. Whether you invest fiat money or cryptocurrency. I lost much more on investments, which seemed to guarantee high-interest rates, but over time the projects simply disappeared.
But, after going through my own mistakes, I believe more in bitcoin than in the money that I have entrusted to the bank.

[Oasisman]

Lots of people are still considering the risk investing in bitcoin. The fact that bitcoin price is increasing almost on a daily basis makes it more scary for them. A friend once asked me “What if the price falls ridiculously “? At that point I was almost dump folded and beginning to panic within myself. I was trying to convince him to see reasons with me on why he should invest in bitcoin and now I’m shivering with his questions. Is there any assurance to give  people especially in time of discussing bitcoin with a friend or family member as a bitcoin enthusiast?

There's no "assurance" in a highly volatile market. The least you can do is to show them the price history of Bitcoin. If you're new to price crashes, then I think that's a normal reaction, but when you said you're a Bitcoin enthusiast makes me think you're really not. You should've already knew the benefits of a sharp drop of price.
As an example; look at how some people are struggling to find an entry point when everything in the market today is in a bullrun. 

[boyptc]

Lots of people are still considering the risk investing in bitcoin. The fact that bitcoin price is increasing almost on a daily basis makes it more scary for them. A friend once asked me “What if the price falls ridiculously “? At that point I was almost dump folded and beginning to panic within myself. I was trying to convince him to see reasons with me on why he should invest in bitcoin and now I’m shivering with his questions. Is there any assurance to give  people especially in time of discussing bitcoin with a friend or family member as a bitcoin enthusiast?

Don't give them assurance. The only assurance that you can give to them is the profits that you've made.

Buy something for yourself which will make them fascinated with the gains that you've made. That will convince them that you've really made it through bitcoin, no need for arguments and convincing.

If they want to invest, tell them to invest with what they can afford to lose.

[wxa7115]

No, there is none! And you shouldn't give anybody any kind of assurance that everything will be fine if they decide to enter into Bitcoin.

Your friend's question is very legitimate and everybody who is hodling Bitcoin should have confronted it one way or another. That is a risk which you cannot erase from Bitcoin. The potential is very sweet and enticing but the risk is also there along with it. And you cannot discount it. Nobody imagined that after hitting $20,000 in 2017, Bitcoin would fall down to as low as $3,000.

If you listen even to people who are aggressively promoting Bitcoin, they fall short of giving assurances and guarantees. They still drop the basic advice to not invest what you cannot afford to lose into Bitcoin.

Which is as it should be, if someone takes a look at the market and like what they can earn but they are not comfortable with the amount of money they can lose then they should look for another market because even if for a long time we thought that institutional money could give bitcoin a more solid foundation and decrease its volatility the recent days have proven that at least for now that is not true.

With that in mind then we need to be very careful when we trade, even if the decrease was important can you imagine how much money lost the people that were going long using leverage? Even using something as low as 3x probably caused them big enough losses from which they will never recover.

[TravelMug]

Lots of people are still considering the risk investing in bitcoin. The fact that bitcoin price is increasing almost on a daily basis makes it more scary for them. A friend once asked me “What if the price falls ridiculously “? At that point I was almost dump folded and beginning to panic within myself. I was trying to convince him to see reasons with me on why he should invest in bitcoin and now I’m shivering with his questions. Is there any assurance to give  people especially in time of discussing bitcoin with a friend or family member as a bitcoin enthusiast?

Your friend is right, as bitcoin is volatile, there is a chance that it can go down at any moment. Maybe your might mindset is wrong though, the price can't really go on parabolic, no asset in the market can sustain that tremendous growth and sooner or later it will need to go on a correction specially if it is on the overbought region.

There is no assurance, those kind of discussions have been talk about for many years, just a few weeks ago, I also had this some kind of debate with a friend, and the word "assurance" and "risk" are involved. So it's really hard to convince someone because we don't have total control of what is going to happen in the market next.

[hannahB4]

If anybody should give me the question, I will not disturb myself answering much I will just sight the example of 2017- 2020 show the person the rate at which it decreased and the rate at which it increased. You buy then hold get to a point you wish to sell off with the rate of profit then you sell