Widdop37 (OP)
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March 27, 2022, 08:13:53 AM |
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How do you go about showing people how to invest in crypto? What are your do and don't? I'm trying to avoid some negative vibes from people around but they thought I intentionally don't want to show them way, they can't handle the crypto pressure, they lack patience I know because we grow up together.
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Rikafip
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March 27, 2022, 08:25:22 AM Last edit: March 27, 2022, 06:13:11 PM by Rikafip Merited by vapourminer (2) |
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First of all, I don't go around telling people that they should invest in crypto. My close family and friends know that I am into all this, but I never suggested them to invest if they didn't ask me about it first. And even when they asked me what to do, I told them all pros & cons and explained them that market is highly volatile and that they should be able to forget about that money for at least couple of years. Some of them I even talked out of investing as I knew that they would panic at the first sight of a correction, let alone bear market and they would end up selling with a loss.
One important thing; if they really want to invest tell them to stick to BTC only and explain them how risky is to invest in altcoins, especially for newbie that won't know when to sell and will probably end up as a bagholder.
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Eternad
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March 27, 2022, 08:30:51 AM |
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How do you go about showing people how to invest in crypto? What are your do and don't? I'm trying to avoid some negative vibes from people around but they thought I intentionally don't want to show them way, they can't handle the crypto pressure, they lack patience I know because we grow up together.
First thing first, Don't force people that don't have any interest in crypto to listen to you, You will just waste your time on them due to there negativity. Recommend only crypto to those people who really seek to learn crypto. Second avoid telling them that they will have massive profit here once they invest, You should be transparent on the risk on investing in crypto so that they will be responsible for there own action. Lastly explain the benefits of crypto including the privacy and focus more on the feature of blockchain rather than a typical price discussion moon shit things.
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Asiska02
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March 27, 2022, 09:14:29 AM |
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You can’t force or persuade someone to join crypto, let them join at their own will. The crypto market has its advantages and disadvantages, allow them to figure out what they really want for themselves. Once that is achieved they can decide when or when not to join.
Using myself as an example, I knew about crypto few years back but not until now that I finally joined after learning more about it and haven seen the bigger picture of how advantageous it will be to me. So don’t force or persuade anyone to join. Only explain to them what they ask you and leave them to decide by themselves.
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Dillonhebist
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March 27, 2022, 11:12:11 AM |
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Firstly you don't go around telling people about cryptocurrency especially Bitcoin because I believe the word now is civilize and everybody have heard the word crypto but they don't know the ups, downs and risks involved in crypto.
secondly I think if you really want to share your knowledge about cryptocurrency especially Bitcoin to family and friends do well to exercise more on the risks involved , do not force them allow them to indicate interest themselves.
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Botnake
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March 27, 2022, 11:17:07 AM |
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How do you go about showing people how to invest in crypto? What are your do and don't? I'm trying to avoid some negative vibes from people around but they thought I intentionally don't want to show them way, they can't handle the crypto pressure, they lack patience I know because we grow up together.
Educate them by making them educate themselves, you know what I'm saying? In short, don't spoon feed information from these people, especially those who think that once they invest in crypto they'll automatically make a profit. These people does only see the positive side and does not understand the risk, if you are kind enough to them to promise them a profit, you might be blame if things will not turn the way they expected it.
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Coyster
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March 27, 2022, 11:28:08 AM |
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The thing is, all you can do is to provide them with materials that will teach them about Bitcoin, as they read such materials if you yourself are knowledgeable about Bitcoin then you can assist them to understand what they read better, but mind you that you should neither convince nor compel them to join in the network. Here is one of such materials that can be of help: 5 Resources to teach Average Joe about BitcoinFrom your post it is basically clear that your friends understand the Bitcoin network to be a "get rich quick scheme", people with such mindset are very difficult to coach about Bitcoin, they must first of all understand quite a lot about the network or else they will just solely concentrate on trying to make money which will lead to losses in the end cause of their impatience and greed. Mind you also that you should not take it upon yourself to personally teach people about Bitcoin, you can tell them a thing or two though and allow them do their own research, but do not present yourself as a Bitcoin hodler or investor, you are making yourself open to attacks of many sort, read this thread to understand better: why it's important to avoid telling everyone about your crypto holdings
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Cookdata
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March 27, 2022, 12:00:09 PM Merited by Slow death (8) |
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How do you go about showing people how to invest in crypto? What are your do and don't? I'm trying to avoid some negative vibes from people around but they thought I intentionally don't want to show them way, they can't handle the crypto pressure, they lack patience I know because we grow up together.
It depends on who you're attempting to persuade about cryptocurrency. You see, almost everyone, especially the online literates, has heard of Bitcoin at some point in their lives, but how they understand it differs, so in trying to encourage someone about Bitcoin as freedom and internet money, you must first understand the type of person you are trying to convince, as people have different perspectives on things. Using myself as an example, my peer group of friends has this desire to do bitcoin because: Group A has the full vibe that Bitcoin has gone from $3000 to $60000 in less than two years and they are inspired by such a move and all wants to try their luck by learning some basics against the next bull cycle. Group B has heard that Bitcoin is a good money-making investment, but they don't know how to set up a regular wallet. I don't care what you've heard about bitcoin, I'll tell you what you need to know, including how to avoid scams, security and privacy, general knowledge and how to buy and sell, but I will never make the mistake of assuring anyone that the price will double in the coming years. One of the practices of holding bitcoin is being patient and if you don't have it, stay with your physical business and paper money.
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Lucius
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March 27, 2022, 12:51:38 PM |
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How do you go about showing people how to invest in crypto?
Whatever your good intentions, doing such things in real life is not only stupid but also dangerous. People will first think that you want to deceive them with some MLM or Ponzi scheme, and when they see that the value of their investment is melting - who do you think they will blame? I was on that path, I paid the price for wanting to help others and I will never tell others again what they will do with their money. If you still want to advise people, create an anonymous blog or something and do it without compromising your privacy - but keep in mind that it is wrong to promote Bitcoin just on the idea that someone will profit from it because most can not cope with the fact that at some point their investment will be overshadowed by an unrealized loss.
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mk4
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March 27, 2022, 02:08:59 PM |
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Just tell them some of the main risks of investing/trading cryptocurrencies(to not let them go in totally blind), and tell them the best crypto trading app for your jurisdiction. If they make money or lose money in the end will totally be because of them assuming you didn't actually shill them crypto trading/investing.
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GreatArkansas
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March 27, 2022, 03:00:16 PM |
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Explaining first how Bitcoin works is a good way to initiate, just like talking first about the technical side of Bitcoin like how it works, how to use, etc., After that, talking about the opportunity for investment where you will explain the good and bad side, like good side is you will possible make profits if they bought cheap bitcoin and sell it in the future with a high price.
I can relate with you, I also experiencing this for long time like lot of people don't understand what Bitcoin is and they are just telling some negative things about it.
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BitKongy
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March 27, 2022, 03:19:22 PM |
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How about scaring them away and look for those who will stay after? This is a good trick to seek out those that are ready for the worst-case scenarios, first thing tell them about the risk involved in crypto investment, tell them about how they can lose money buying coins and tokens just to see how they will handle that.
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Marvelman
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March 27, 2022, 03:19:52 PM |
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If you have one-on-one dealings with new potential crypto investors you need to make sure that they understand the main risks they could be taking. It is also necessary to help them make a plan for how to deal with these risks, which should be delivered in a non-threatening manner.
In most crypto cases, the fundamental problem isn't that people don't know about Bitcoin and cryptocurrencies. It is that they don't know how to evaluate risk.
I also believe that there are indeed some people who cannot resist the prospect of quick money. This is when I'd tell them: 'Do not buy it until you've considered all the risks. Do not believe others that tell you that you are going to be rich. Do not buy until you're sure that you really understand what you're doing. If you don't understand the risks, and you don't understand how the profits are distributed, it might be a good idea to keep the money under your mattress.'
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Daniel91
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March 27, 2022, 04:05:30 PM |
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I advise you to be very careful when telling people about crypto investment. Your friends need to understand that investing in cryptocurrency is very risky and that such investment should be approached very seriously and only when they are well informed about everything. Help them with basic information and share some sources where they can get more detailed information, but the final decision on investment and how to invest must be exclusively theirs. They must be fully aware of the risks and take personal responsibility for all their decisions. They must also have a clear investment goal and exit strategy. If they can't do all that, I think it's better that you don't tell them anything and don't help them. Investing is simply not for everyone.
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The Cryptovator
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March 27, 2022, 05:15:27 PM |
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It's hard to influence people to invest in cryptocurrency if they aren't familiar with that. We can introduce them to cryptocurrency and let them decide for themselves. I learned from my mistakes to influence someone to invest in cryptocurrency. They regret it once the price falls down and become panicked. So it's quite important to teach them about the technology of cryptocurrency and how it works. If you intend to adopt cryptocurrency then share with the nearest. If they become interested then they will learn themselves.
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Signature Space for Rent
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sunsilk
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March 27, 2022, 05:55:36 PM |
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How do you go about showing people how to invest in crypto? What are your do and don't? I'm trying to avoid some negative vibes from people around but they thought I intentionally don't want to show them way, they can't handle the crypto pressure, they lack patience I know because we grow up together.
First, if you think that they're going to bash you because you're teaching people how to invest in this market, you should just mind your own business and ignore the bashing. There will always be those people that would be negative look at you for whatever you do, whether it had been good or bad. The best approach is to just wait for someone to ask you and don't force it to anyone that you think that they're not interested at all. You let them come to you and wait until they voluntarily ask investing questions related to cryptocurrencies.
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Oceat
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March 27, 2022, 06:22:42 PM |
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It's not that I don't want you to spread awareness or to tell people to invest in crypto but if you're going to tell them to invest then tell them at least the risk of investment. And maybe most people that you've told know the risk already that's why they're losing interest.
What are your reasons though why do you have to keep telling people to invest in crypto/Bitcoin? Does it make you rich if you keep telling different people to invest in crypto? For some people, if you are so persistent about it they might think it's a scam although with a proper knowledge people might understand but don't annoy people by keep telling them or forcing them to invest.
If I were you, I would leave them alone and let them know my success through the things that I bought.
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3996
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nurilham
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March 27, 2022, 11:14:01 PM |
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Personally, I will tell to someone who wants to know about the crypto world because I think that joining or getting involved in the crypto world requires awareness and also a strong mentality so that they can face this uncertain crypto market. As a person who is a little more familiar with the crypto world than ordinary people, it would be better if we tell them in terms of the benefits and risks that can be obtained. the rest if they want to accept it then that will be good, but if they argue and think we are not showing the way then it's up to them and all the risks are borne by each. The crypto world needs to be underlined here that the crypto world is not that easy but also not that scary to be involved in, so it depends on how we handle and manage our crypto assets.
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Darker45
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March 28, 2022, 03:34:51 AM |
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Until now I'm still torn between sharing Bitcoin information with friends and acquaintances and not talking about it at all. Many a times have I found myself talking about Bitcoin with someone who'd rather insist on what his/her impression of the technology is. It's more or less pointless to end up arguing against somebody who is fully convinced of what little knowledge he/she has.
I can still remember a close friend who told me Bitcoin is simply a technological bubble whose hype is temporary. That was way back when Bitcoin's price was less than $2,000. I didn't argue after making my point. I'd rather let Bitcoin, its adoption rate, and its price growth speak for itself.
I guess that's the best thing to do. Make your point and that's it. But don't exhort them to invest. You might be blamed later on. Just give them the information and let them decide for themselves.
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pooya87
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March 28, 2022, 04:07:13 AM |
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How do you go about showing people how to invest in crypto? What are your do and don't?
For starters I always advise people to not invest in crypto aka altcoins and instead stay away from them. When I introduce people to this world, I introduce them to what matter which is bitcoin and nothing else since others are just pump and dump and I don't want to introduce people to a world of scams. When it comes to bitcoin I will introduce them to the utilities that bitcoin can provide them as the only decentralized currency in existence, instead of telling them to invest in it and wish for profit!
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