Know your limit

[Crypt0Gore]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

[1715494958]

1715494958

[cabron]

Did you tell that to your friend? Because it sounded like he is now your responsibility.

Whoever gave him the idea that he can make huge amount of money after a month of investing really made him totally believed on it. I hope its not you because he really put it all down the line. Helping a friend in times of trouble is being a good friend and he seem to be in need and you are the one he calls for.  Hope you know him well and not trying to scam you. I'm not saying he is a scam but find out. Just a warning.

[CryptSafe]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.
If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

People fail to understand this phrase " invest what you can afford to loose"  this is absolutely the best form of Crypto investment where by  you do not need to panic when ever the market situation is going otherwise. You can not be under any pressure so as to quickly collect your capital because already you got a backup plan which is your source of income or profit from other business you so so far as you only invest a little to buy fractions of bitcoin at various intervals. Well seems OP friend was under pressure so as to meet up because no man can make such mistake up to the point of getting a loan for just a risky deal which you are not certainly sure of. OP you did good by supporting your friend with feeding. I commend your efforts but you should caution your friend not to make such mistake next time.

[Aanuoluwatofunmi]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month

People who always like to boycott the normal procedures always falls into this category because they had not been identified with those having all it takes to start a bitcoin investment with the absent of the idea, they never reason on how to follow the prompts pathways others had been following having good results, they were too eager and over excited to invest rather than learning about what to invest on.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

Another means is to learn how to earn bitcoin, you dont really have to use money this time but your values creates you an incentive which can be paid to you in bitcoin, many people still don't know how to materialize this to function well for their own benefit, but i will always say this that you should create value first by building yourself up.

[Macadonian]

If you send him money to pay off his loan you are enabling this behavior and he will not learn from it. he needs to sort this out and sell things to pay it off. If you lend him the money he is borrowing money to pay off a loan and you will probably not get the money back. he needs to sell the bitcoin and recoup what he can and then sell whatever he can. He has probably ruined his credit rating and will not be able to get a loan in the future.

[franky1]

you are not his responsibility. his employer that failed to pay his wage is responsible to pay

if you do wish to help him. ask him to move some or all of his investment over to you as collateral for the loan you are giving him of his missed wage amount to pay off another loan
where you make the good friend promise to give him back said investment when he pays you back.

the good thing about bitcoin is its divisible.
so if you made friendly arrangements for him to pay you back over 10 payments, you can give him back his collateral in 10 allotments of divisions

if he is trying to keep the investment. and sponge(cheat you) by asking for more then the investment (loan) and not want to (when he gets his wage) pay you back immediately. he is not the good friend

so come to an arrangement that makes everyone happy.. or just say no to him

[Ultegra134]

You're not responsible for his actions, nor are you obligated to lend him money. If you do, you may also consider them lost. You warned him against spending all his money and taking a loan, but he chose to ignore you. We've already seen numerous threads asking whether taking a loan to buy Bitcoin is a good idea or not, and I'm pretty sure your friend is not the only one who's gotten themselves into such a mess. Never invest more than you can afford, and never take anything for granted. You may be fired, made redundant, have your salary delayed, or experience anything else that you can't currently imagine.

[Quidat]

If you send him money to pay off his loan you are enabling this behavior and he will not learn from it. he needs to sort this out and sell things to pay it off. If you lend him the money he is borrowing money to pay off a loan and you will probably not get the money back. he needs to sell the bitcoin and recoup what he can and then sell whatever he can. He has probably ruined his credit rating and will not be able to get a loan in the future.

Once you do past up some due date and wont be able to repay some loan the credit score would really be a mess and this is something that we should really avoid as much as we could.
In a problem like this then there's no other way but to sell out his bitcoin holdings and repay on where he did get that loan because it would really make things even more worst.
Its true that never go all in for whatever investment you are dealing with whether on typical investment or with crypto.You cant really be so sure on when they would be giving out
returns or making out huge movements for you to make money and also we know that loans does have durations which means you do need to pay them of.

[JoyMarsha]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

Beforehand, you warned your friend not to invest in bitcoin with all his money and loan money. He still went ahead and do his wish. Now he wants you to lend money to him to repay the loaners. Is it not funny? Allow him to learn his lesson a hard way that bitcoin is not a get-rich scheme so that he won't ever dare to invest in bitcoin with the amount he can't afford to lose. Let him to find means to sort himself out of the mess he has committed for himself than lending money to him. If you lend money to him, forget it cause he won't pay it back.  

If you want to help as a friend give him the amount you know you can readily give out without second-guessing

[stomachgrowls]

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

You wont really be feeling up any pressure if you are just investing on the amount which is in partial with your salary on which it wont really be putting up some stress if ever the market would really be in bearish state.
There are really just that people who cant really manage up their risk taking properly on which they do really end up on being impulsive with their decisions which ending up on huge mistakes.

Also, its never been ideal on taking up a loan just to invest on Bitcoin or crypto in overall.Just like on what the rest been saying that assurance isn't there.We dont know on when
would be the pump or price increase which means if you do rely with those profits then it isnt something that you could really expect on for it to happen immediately.

[Questat]

It sounds like your friend is very confident that he can make a profit every day or monthly that promises to the loaner that he can pay on time. He actually underestimates the market and that he thinks that he controls the situation but unfortunately, he ended up asking for help as he fails. He is your friend but I think there is a limitation to such word "help" otherwise, he will take advantage of your weaknesses and would rely on you for everything. In this case, a decline should be delivered, it is not being rude to him but this is helping him realize the unstable situation of the market which couldn't assure fixed profit and stop relying on the crypto as collateral for loans.

[GiftedMAN]

First of all op, I will like to know the kind of bitcoin investment that your friend is into that made him have so much confidence in paying back the loan he took as you have said, is he into trading, or someone is trading for him then pays him monthly? It is only a greedy person and one who does not have experience they will take a loan to invest in bitcoin without considering the current market price of bitcoin. You can assist your friend to pay off his love if you wish but you need to educate and possibly introduce him to the forum here so that he will come and learn more so that he won't make such mistakes again.

[HajiBagi]

Firstly, I think Your friend has a greedy mentality because otherwise he would not have taken that kind of risk by taking out a loan to invest in bitcoin, which was terrible because no one can thinks that investing in bitcoin will result in profits the next day, bitcoin investment is not for those who are not capable or who don't have concrete ways to earn money. This situation of taking out a loan has put the lives of many people in danger, so me here, taking a loan to invest in bitcoin, is taking a risk and is not advisable to those who are feeding or relying on salary to pay back, because no one knows the issue that will come to he or her at any period of time.

[Yatsan]

It will never be advisable to invest all your funds that into one asset that is why deversification would be a better investment simply because it would somehow minimize the risk of losing everything in a single bucket. Also, no investment would give you a hundred percent chance of profit which should be an enough reason to avoid being greedy of profit. Know and set limits on any investment. Cliché as it may sound but only invest an amount you can afford losing. The idea is there, and no one wants to lose right? But always expect for the worse given that there's no certainty in this industry due to market price volatility and also, to lessen the weight of losing.

[drwhobox]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Yes, you can call that greediness without any doubt. If you are worried about a friend then why don't you warn him before he takes the loan?
Your friend will get in more trouble if he doesn't pay the loan in time and investing in bitcoin or other assets with loaned money is not a great idea.

[seoincorporation]

For me that's a terrible way of administration on personal finances, I think getting a loan to pay another loan is one of the biggest mistakes we can make because in the end all our money will go in pay interest and that sucks really hard.

In the past years, I had a friend who loved to be in debt with me, and the fun fact is that he had the money to pay, but those was his savings, and after years of owing me money I had to confront him to recover my money, that makes me lose the friendship but at least I get my money back.

[serveria.com]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Mixed feelings: yes it was definitely foolish to go all in (when did he invest?). The timing is ok, I guess we've seen the bottom and stuff but what was he thinking when he took a loan for a period of one month? He really expected that Bitcoin will moon within a month? How stupid is that? On the other hand, I feel huge respect for people who are brave enough to go all in. And sometimes, some lucky guys like that win big! 

[inthelongrun]

You have an irresponsible friend right there. Greedy and not caring about other people by taking a loan and recklessly invested in into something not secure. Did your friend trade the loan proceeds in futures trading? I'd been a victim of this a few years ago from old friends who took my money without paying me until now as if nothing happened. So personally, I would stay away from people like your friend. Single or with a family, the rules don't change when it comes to investing. Only invest an amount that we can afford to lose. This is very basic and anybody with a common sense knows this simple basic rules of investing.

[Yaunfitda]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

I know that he is your friend, but you have to set limits as well. I don't know if your friend knows the old adage in bitcoin invest,

"Invest what you can afford to lose".

If not then you have to remind him that. But if you want to stick with him, it's up to you, but you should advise him on what to do and not just rely on your good deeds as a friend, just saying.

[BADecker]

Eastwood- A Man's Got to Know his Limitations

https://www.youtube.com/watch?v=_VrFV5r8cs0

[CryptoBuds]

If you send him money to pay off his loan you are enabling this behavior and he will not learn from it. he needs to sort this out and sell things to pay it off. If you lend him the money he is borrowing money to pay off a loan and you will probably not get the money back. he needs to sell the bitcoin and recoup what he can and then sell whatever he can. He has probably ruined his credit rating and will not be able to get a loan in the future.

I agree with you, if OP sends him money, it is no different from OP agreeing with what he did, and there is no guarantee that he will repent and not repeat the offense. He needs to get a proper lesson and the result he has caused, if he helps now, he will get no lesson at all. He should sell everything to pay off the debt, and for the rest, he should find a job to pay off the debt. Helping in this case will only make him rely on him and not try on his own.

[bitzizzix]

If I were in the OP's shoes I would do it on the condition and agreement never to do it again and I intend to help, reasoning that he is a friend of mine and I know him well even though he loves to borrow. And I would have thought that one day I would need his help and this was true, and I helped because he had no choice after all the effort.
and I'm not going to be afraid of him not giving it back because I think he still has crypto or bitcoin that I can count on, and because he doesn't want to sell it maybe he believes that in the long term bitcoin will give him a profit even very profitable, like I did bitcoin for the long term long and I also enjoy the results and definitely profitable. So I will help him on the condition that once the bitcoin goes up high he will give it back and without even asking for more he will definitely do it because he will think I have helped him when he was having a hard time.

and on condition, I want to do it because I know he who in my opinion has 1 or several shortcomings, there will be many advantages that everyone has.

[Hispo]

OP are you sure he actually used that loan to buy into Bitcoin positions? I don't know your friend, but there is always a chance he is actually doing other things with that money... gambling, drugs, alcohol, women. It is not my intention to offend your friend, though.

I believe that before giving money to your friend you would asking a couple of things, like for example how much money he invested into Bitcoin and at what price he bought, whether it was spot or leveraged futures. If possible I would even ask him to show me in person his positions, both opened and closed.

It is better to take some precautions, It is your money.

[laurenB7742]

There are many people who want to borrow money to invest in bitcoin, many people think that if we do not take risks, we cannot succeed. That is true, but not in this way because investing in bitcoin is extremely risky, and we can never predict what we will face in the future if our plan fails.

I strongly encourage people to invest in bitcoin as it can give us more opportunities than any other asset class, but we should consider the risk aspect because there is no guarantee that bitcoin will rise again or will recover in the future, everything is just a prediction. Therefore, you should only invest with money you can lose, if you don't have capital, work hard, absolutely do not borrow.

[reagansimms]

Lots of people are misguided by investing in Bitcoin, it is highly not recommended to invest in Bitcoin using borrowed money because the certainty of returning loans is weak. The interest in investing in Bitcoin cannot be separated from the promised return, but newbie investors must think 10X that the risk of loss is very large, far greater than the expected return.
You have to be sure of your ability and experience in the Cryptocurrency field if you want to be desperate for a loan for investment, but that's not a guarantee that it will work.

[LogitechMouse]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Another newbie has been trapped with the "quick-rich" mindset.

For sure the main reason why he go "YOLO" and put all of his money into Bitcoin is that, there is somebody who said that you can get more profit in investing into Bitcoin than other assets. Maybe it's you who said that? Kidding, but it frustrating that these people are teaching wrong things about Bitcoin to the point that they are investing most of their money into it hoping that they can get profit in a short amount of time.

It's greedy no doubt.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

Be a good samaritan and help your friend. After all you're friends anyway so... yeah just help him .
I hope that you're the last person that he will be borrowing money with because if not, he might do it with other people thus, it will be a nonstop cycle of "borrow here-Pay there" cycle. He borrows money from one person just to use it to pay to another person and the cycle goes on and on.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

Married or Single. Independent or Dependent. With Family or not. You must not all use all of your money into investing especially in to a risky asset like Bitcoin. Don't be into "YOLO" mode . Use only a portion of your monthly income.

[Old layer]

A lot of persons, falls victims of fraud every time, all in the name of  Bitcoin investment. Probably got intimidated by some friends or somewhat websites that says 'pay this to get more'. You should at least be mind full of sites where you want to invest on, ask questions, make research's and try knowing more about the sites you are investing on.do not fall for all these get rich schemes. On the other hand, when you have finally found a legit site to invest, don't go to far, as much as taking loans from people just in the name of investment, I was a victim too and it wasn't good at all. I was down for a very long time, before I got back up on my feet. Yeah sure this was greed in the way that I totally forgot that I had other responsibilities to take care of and decided to put all my money into investment that never brought a return.

[mendace]

A lot of persons, falls victims of fraud every time, all in the name of  Bitcoin investment. Probably got intimidated by some friends or somewhat websites that says 'pay this to get more'. You should at least be mind full of sites where you want to invest on, ask questions, make research's and try knowing more about the sites you are investing on.do not fall for all these get rich schemes. On the other hand, when you have finally found a legit site to invest, don't go to far, as much as taking loans from people just in the name of investment, I was a victim too and it wasn't good at all. I was down for a very long time, before I got back up on my feet. Yeah sure this was greed in the way that I totally forgot that I had other responsibilities to take care of and decided to put all my money into investment that never brought a return.

Unfortunately, there are people who lack experience or act in bad faith and end up being scammed, and with Bitcoin, it's even easier because a high degree of privacy is maintained. It's important to always do your research before investing in anything.

[xSkylarx]

That is why you shouldn't put all your eggs in one basket so that not all go broke if the basket is dropped. Diversify your investments so that in case another investment goes wrong, you still have backup. But again, all of those things need thorough research. He is a very risk-taker because he took a loan, which is bad for his mood, and he is just thinking that he could gain profit, but it turns out that he cannot. I am not against on taking a loan for your investment but make sure that you can pay it back even if you failed in your investment 

[Bananington]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Some people heard about the importance of investing at a very later time in their lives, some just came to realization the importance and necessity to invest and because of the suddenness are going heavy investing almost every penny they have and not even keeping enough money for themselves to follow up with. The suddenness of wanting to invest makes them make wrong decisions and choices like taking deciding to take a loan to invest just because you know it is what you should have been doing. If you have not started investing, starting today is also alright to avoid the rush. Do not invest all you have, but only what you can survive without, invest in bitcoins.

[SOKO-DEKE]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed?

will I call this Idea greedy or a newbie's behavior? Because I am unaware of his or her level of expertise in the crypto sector. Putting all savings in the industry is too risky due to its volatility and various obstacles. Taking out a loan was not that much problem to me because according to you his a salary earner but the issue is investing all his money in bitcoin,that is not ideal.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

I believe he will do it again if you actually you can provide him money to solve his difficulties. Don't send him any money; instead, let him sell his Bitcoin and solve his own difficulties because that is how he can easily learn from his mistakes the next time.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

I believe that individuals who have invested all of their money in crypto are those who think they can fast make it in the crypto sector, as well as those set who invest in crypto without having the basic knowledge. I believe that no crypto expert will advise you to put all of your money in any coin, including Bitcoin; instead, they will advise you to invest only what you can afford to lose.

[Henrobakkara]

Did you tell that to your friend? Because it sounded like he is now your responsibility.

Whoever gave him the idea that he can make huge amount of money after a month of investing really made him totally believed on it. I hope its not you because he really put it all down the line. Helping a friend in times of trouble is being a good friend and he seem to be in need and you are the one he calls for.  Hope you know him well and not trying to scam you. I'm not saying he is a scam but find out. Just a warning.

Right, but it could also be that the friend just got to know about Bitcoin and was not really thought the whole of it but as usual the making a profit part and also believing that this was possible within a month of investment when the market is not on a proper bull run and as you said, hoping it wasn't OP that introduced his friend and now is been called upon for assistance. I just hope new investors would take the time to understand Bitcoin and the market sentiment before going all in.

[John Abraham]

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly, you won't feel any pressure, always remember that health is wealth.

That's called DCA (Dollar cost average). Yeah, You don't have to invest everything you have. Invest in bitcoin, which you can afford to lose. You don't have to take a loan to invest anywhere. No matter how much risky it is. even if there is no risk at all, you still don't have to take a loan to invest in something you are not an expert at. It's better to do DCA for buying Bitcoin and other crypto as well. But, Never buy shitcoins.

[sulendra12]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

That's so greedy from your friend and it's good for him since he paid that loan in a month even though he didn't have the salary for a whole month. But, just imagine if he couldn't pay the debt and the worse thing could have just happened with his life because of that addiction of taking a loan. I'd stay away from that if possible.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

That's the worse case I have talked before.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

This is why you shouldn't take a loan ever for investment, use your partial money from job for investment and you are good to go from there. Don't be greedy just because you want to get money quicker.

[lovesmayfamilis]

OP, now you have to ask yourself, "Are you ready to give a friend something that you don't mind losing?" There is a proverb that says that if you want to lose a friend, give him a loan, as you are giving away your money, but later the friend will think that he should give you his money.
True friends can be defined as those people who will tell you the truth without hesitation. You tell him all the reasons why he needs to get out of his debt on his own, and all the mistakes he made in his haste and greed.
If he understands you correctly and draws conclusions, consider that you helped him; if not, then your friendship existed before the first unpleasant incident.

[Aanuoluwatofunmi]

There are many people who want to borrow money to invest in bitcoin, many people think that if we do not take risks, we cannot succeed.

Yes that's true to an extent but not applicable to most cases if considered well, taking risk isn't bad but when you study what you're taking the risk for and understand what's at stake, people will always advise any new start-up never to take loan for a start, they better go towards earnings it or exchanging for it than lending money because being a newbie, one is easily vulnerable for attack in any form and this can lead to loosing the entire fund.

That is true, but not in this way because investing in bitcoin is extremely risky, and we can never predict what we will face in the future if our plan fails.

Investing in bitcoin is not as risky as that with altcoins, am not also supporting lending money for an investment but we can understand that bitcoin investment is only being highly volatile but not highly risky as other cryptos, so one can only loose little portion of the investment unlike with other cryptocurrencies where the entire fund got lost.

[Pandu Geddon]

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

what your friend did is stupid. You don't need to give him money. if you want to help him out, out of humanity and solidarity. then meet him and invite him to eat while talking about everything. I mean talk about the stupidity he did. save your friends while you can. if not, maybe he will enter the criminal world because of his behavior.

[Jody.Drummer]

Even though some of us have discussed this matter because indeed borrowing or risking everything that is owned to be used as an investment is a mistake.
This is a place full of risks and we are aware of that but indeed we seem too naive not to believe in it, even though it is something that is fundamental.
Borrowing and promising from bitcoin profits is really a mistake because indeed such a thing is clear even though it can, but we also have to look at the situation and conditions and of course now is not the right time for that.

[bettercrypto]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

You know it's hard to borrow money, then the one who lends you money will also make you pay the debt. This is not a good strategy. Doing this will only get you into debt eventually. It's a bad habit.

    But, honestly, what I do is that I save money every week just in case an emergency happens so I have money to withdraw, besides that, I also save Bitcoin every week for the long term, for at least Even if the bull run comes, I have bitcoin hidden in my wallet.

[summonerrk]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

One of the most important rules of trading: you cannot trade with borrowed funds. If you have a permanent source of income, then you need to understand how much money you can put aside, and how much to leave for needs. If a person trades with someone else's money, then this is actually a casino. This is the path that leads into the abyss to a disease called Ludomania. As I like to say: if you invest in something, or trade, then be prepared to accept the fact that you no longer have this money.

[m2017]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

You don't refuse to help your friend: if he really needs money, then give it to him. On his bitcoin bail. It seems to me that this is fair. If you don't spare money for a friend, then he should not spare bitcoin for you. Otherwise, there will be an imbalance.

Your friend didn't calculate his strength and now shifts the responsibility and consequences of his decisions to you.

I also believe that investing should be approached wisely and absolutely should not be bought bitcoin with all or the last money. Your friend is an anti-example of how to act.

[Raflesia]

Unless you promise the same thing to your friend then it's only natural that a little help there. because indeed the initial condition that your friend made was the mistake of doing everything on investment and borrowing for the sake of it as if crypto was an instant way to get rich.
This is clearly not justified, let alone borrowing money with the promise that you will pay back from the profits.

However, everyone here is also aware that investing in crypto is quite risky, so you don't need to do anything really too over the top to be here because it will only kill yourself.

[Nrcewker]

Golden rule of investment is 30:30:40. I mean 30% of your earnings should be spent on investments(it doesn’t matter cryptos or mutual funds or anything), 30% for monthly expenses and 40% should be your savings. Now if a person fails to follow this, then definitely he gonna land up in troubles. Investing in any asset or Bitcoins, doesn’t mean that it will give you profits. This is a pure example of carelessness that your friend has shown the world. Always remember invest in limit and calculate all the possibilities.

[coinerer]

Everyone is responsible for his own investment so everyone should invest according to his own strategy and ability. And investing the entire wealth in only one thing is the biggest folly. By doing this, a person will either suddenly become very rich or else the mistake will make him a street beggar. So of course it is better to adopt a limit for investment and everyone should follow a calculation to invest in different things which have less chance of loss on average. If my friend or any other person invests his entire money only in Bitcoin then he has to take responsibility but if I am inspired by him to do the same mistake then it will be a big mistake for me.

[aylabadia05]

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

I think it's wise in an investment to avoid things that can bring burdens. Investing is better not in a forced situation because it can have an impact that can cause problems.

From the case you conveyed, for me it is one of the things that need to be avoided in investing. Any type or form of investment activity by borrowing other people's money is not the right choice.
This is as short as it gets in my opinion because we don't want a relationship to be damaged because of a loan even though the borrower is a close friend.

[imamusma]

Unless you promise the same thing to your friend then it's only natural that a little help there. because indeed the initial condition that your friend made was the mistake of doing everything on investment and borrowing for the sake of it as if crypto was an instant way to get rich.
This is clearly not justified, let alone borrowing money with the promise that you will pay back from the profits.

However, everyone here is also aware that investing in crypto is quite risky, so you don't need to do anything really too over the top to be here because it will only kill yourself.

It is always wise to think that there are risks to be considered when one wants to invest in crypto. Everyone has an acceptable level of risk threshold, and of course that includes budget amounts and origins. If they can only afford to lose $10K on their investment then that should be the maximum budget amount to invest, but if they can afford to risk $1M that should be fine too.

One just has to be aware that crypto investing is not a way to get rich quick, but behind the possible profits, there is a potential loss that they are very likely to experience due to market fluctuations. Even if they can afford to be responsible for their investment risks, it is always wise not to believe 100% in crypto without an emergency budget.

[_musab-scorpion_]

Yes I completely agree with u !!!
One should take any money from others to invest in stuff like that…
A job person should deposit dollars $ and buy crypto coins or btc only with the money by which he haven’t to buy foods for his childrens or pay any allowances…
After paying for everything in his daily routine the money which just left at him for savings…he should invest them in btc …

[Dickiy]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

In this case, financial management is the most important thing to learn, whoever you are and whatever your condition, being good at financial management will have a very good impact on making decisions. Risk management is also needed in terms of investment decisions considering daily needs and price fluctuations in bitcoin which cause it to be out of sync with what is planned and result in pressure that attacks mental and financial.

Actually borrowing money to invest can be a good decision if you are able to manage it properly, things that become risks must be a concern if targets do not meet expectations and savings funds for solving problems that may occur must be prepared.

In this case, DCA is the wisest strategy as a strategy to ease the psychological burden imposed on the market and to maintain financial stability.

[Issa56]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

I think your friend is new to cryptocurrency what's why he made this kind of mistake, and I think he those not have proper orientation about bitcoin and cryptocurrency in general, he just heard that people are making money from bitcoin and he also want to make money.

Since your friend is having loan to pay back and he those not have money to pay it back, and he those not have money to feed, then I think it will be better if your friend sell the bitcoin and settle the necessary things which he has to, how long will he countinue to take loan just to settle another loan he took, and how long will you countinue to feed him? The best thing is for him to sell the bitcoin then whenever he is having any money he won't be using for long term, then he can invest back in bitcoin.

[Maestro75]

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

That is what true friendship is for. You help each other when in need. Good you did the much you can do for your friend and that should be unconditional. If it had gone well and he made serious profit am sure he would have spent part of the money with you too as his friend. Another thing is that you have to sit your friend down and  educate him on why he should not over invest in cryptocurrency. There should be something set aside and not to put everything into it. It is part of financial discipline.

[panganib999]

Knowing how far you can go in this industry is paramount. Wins are wins regardless of how big they are. Losses on the other hand are more destructive the harder it is to recover from them. To that regard one must ensure that the losses they would incur in the future are of the manageable kind, because just like what happened with your friend OP, that spells great doom mentally and socially for him, the fact that he couldn't pay and is practically at everyone's mercy and pity now because he doesn't even have money to buy essential stuff like food is just something that my prideful ass wouldn't be able to take. In any case, take every wins you can get, forget being greedy and always put your losses at a manageable rate. Recovery is very important in this industry. That's what separates the good investors from the bad ones.

[Lucius]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary...
~snip~

So he invested all his savings and borrowed money to buy Bitcoin, and then he didn't receive the monthly salary with which he was supposed to repay the loan? Well, the solution is simple - why not sell Bitcoin and pay off the debt? He can't possibly be at a loss as far as the price is concerned, because if your story is true, it happened this year and he could only increase his investment.

[ethereumhunter]

That is why in investing, we must know the amount we want to use and not use all the money just to invest. We still have other needs besides investing. If we can manage expenses and investments simultaneously, we can achieve what we want in investing and won't bother with money for daily expenses.

You have to remind him by suggesting limiting his investments and setting aside money for his monthly expenses. By investing in bitcoin, he can prepare for his future, but that needs to do well and correctly. And don't invest by borrowing money because you have to repay the loan.

[kryptqnick]

Taking a loan is often a bad idea, but especially if a person isn't 100% confident about being able to pay it back, and when it's taken not out of necessity but out of a whim. I don't think you should lend him the money unless you are ready to lose that money.
But if a person bought BTC, can't he at least sell that and repay a part of the loan?
Op, you're correct, of course, that one should only invest out of the money one is earning, and it should be a sum that a person is ready to lose. It can be different percentage based on how much a person is earning and how much is required to cover monthly expenses, but the investment should not come from money required to cover basic expenses.

[yhiaali3]

Accumulating debt upon debt is the biggest mistake, he will never be able to get out of this circle.

I know a lot of people who get into debt and then when they can't pay off the debt they borrow from someone else to pay off the first debt, and so they get into a cycle that never ends.

The investment is only by part of the capital that you can leave for a long time in the first place and secondly you can afford to lose it, you have to take the loss into account first of all.

I do not mind investing a large part of my savings in Bitcoin, but borrowing in order to invest in Bitcoin carries a very high risk.

[Crypt0Gore]

It sounds like your friend is very confident that he can make a profit every day or monthly that promises to the loaner that he can pay on time. He actually underestimates the market and that he thinks that he controls the situation but unfortunately, he ended up asking for help as he fails. He is your friend but I think there is a limitation to such word "help" otherwise, he will take advantage of your weaknesses and would rely on you for everything. In this case, a decline should be delivered, it is not being rude to him but this is helping him realize the unstable situation of the market which couldn't assure a fixed profit, and stop relying on the crypto as collateral for loans.

He was very confident with the decision, but he made me feel like I was blocking his way to success or something, he knew I went through a lot with crypto and I told him what I have went through in the past, he was aware that I lost some money, I believe he failed to believe me because he 100% trusted his monthly salary, he was a good friend that's why I can't leave him be in this situation right now, but a man got to do what a man got to do, I can only help with what I can.

[summonerrk]

Accumulating debt upon debt is the biggest mistake, he will never be able to get out of this circle.

I know a lot of people who get into debt and then when they can't pay off the debt they borrow from someone else to pay off the first debt, and so they get into a cycle that never ends.

The investment is only by part of the capital that you can leave for a long time in the first place and secondly you can afford to lose it, you have to take the loss into account first of all.

I do not mind investing a large part of my savings in Bitcoin, but borrowing in order to invest in Bitcoin carries a very high risk.

There is a concept of Maslow's pyramid. The pyramid of human needs, based on which what a person needs in his position is determined. In the first place is warmth and food, then safety, etc. And one of the levels is self-realization. Unfortunately, many people do not see trading as a dangerous game, but an opportunity to realize themselves financially. They hope for a miracle like in roulette. And they are ready to risk all other levels (food, shelter, security) for the sake of chances of success. This is fundamentally not the right attitude. Our needs must be met, they cannot be risked. Therefore, you can enter only Extra money on the exchange.

[Marykeller]

What information about bitcoin did your friend learn that inspired him to put all of his money in it with such conviction and even take out a loan on top of that to ensure he did so(invested in bitcoin)? Will I label it greedy or what? Anyway, if I were to pinpoint the origin of everything, I would look for and point the finger at the person who first encouraged and introduce him to invest in bitcoin. Your friend was given a poor explanation of the situation. He was simply uninformed about what the individual told him about investing in bitcoin.

Anyway, the deed has been done. People make mistakes in life, and we must correct them while always remaining as our friends. Please help him if you can.

[GideonGono]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

This is like an addiction your friend destroyed his life with his greed or obsession.
And you supporting him could be considered like you are tolerating his addiction.
I know that you just want to help your friend on his darkest time but you should also know how to limit on how you help him.
This is a great example for all of those who want to invest in crypto to invest only what you could afford.

[Oceat]

Your friend basically risk it all without knowing the consequences I guess since he's like gambling and not actually trading. Perhaps, it's the greed that pushes him to do that stuff thinking he could get it back without expecting the unexpected and then boom, surprise!

People tend to do this kind of stuff if they were overwhelmed with the feeling that they could get it back without considering the consequences and unexpected things to happen. I've seen these kind of people during the bull run and I can't believe they just did that like selling their house to invest in Bitcoin or taking a loan while Bitcoin was in bull run already and by the time Bitcoin price starting to dump they are forced to sell their investment even though it's a loss.

The key here is to learn to control yourself.

[Accardo]

It's always important to know what is best for us in this cryptocurrency market. If a person uses all the money they've got for investment, such a person doesn't understand a bit about how the market works. Taking loans can work if the person won't be hurried to pay back the loan that is investing long term. Unfortunately, not everybody got the information or understand cryptocurrency, they were carried away by the profits others boosts of making in cryptocurrency. People keep making same mistakes and they refuse to learn.

[lixer]

A lot of persons, falls victims of fraud every time, all in the name of  Bitcoin investment. Probably got intimidated by some friends or somewhat websites that says 'pay this to get more'. You should at least be mind full of sites where you want to invest on, ask questions, make research's and try knowing more about the sites you are investing on.do not fall for all these get rich schemes. On the other hand, when you have finally found a legit site to invest, don't go to far, as much as taking loans from people just in the name of investment, I was a victim too and it wasn't good at all. I was down for a very long time, before I got back up on my feet. Yeah sure this was greed in the way that I totally forgot that I had other responsibilities to take care of and decided to put all my money into investment that never brought a return.

Unfortunately, there are people who lack experience or act in bad faith and end up being scammed, and with Bitcoin, it's even easier because a high degree of privacy is maintained. It's important to always do your research before investing in anything.

The weird part is that there are so many people who gets scammed while trying to scam, that's the weirdest part. Like for example if you click on something that says "free 1 bitcoin!!" and you get hacked, are you really an innocent person? Could you say that you weren't really doing something a bit fishy yourself? Who gives who free 20 thousand dollars?

It was obvious that you were trying to scam "someone" for it, even if the ad said so, it's obvious that this money would come out of someone and you were going to get it that easily? There are tons of people and situations that happened with similar mindset to this and I think I would say that it is not that easy.

[Dr.Bitcoin_Strange]

I think there was a cause to your friend's action: either he was misinformed about Bitcoin investment, because it's often lamented in this forum that Bitcoin investors should never take out loans to invest in cryptocurrency. Your friend took out a loan to invest, hoping to pay it back when he received his salary, but he got disappointed. That's because he doesn't understand life so well.  Joyram Shaw said "Expectation kills. Just go with the flow, you might be surprised when something better comes along in an unexpected way.” If he had just waited and invested from his salary, he would not have been in debt even as his job failed to meet his expectations. 

@Crypt0Gore, You said you warned your friend, but he never listened. I think you should refer him to this forum and expose him to some threads about risk warnings on Bitcoin.

[pixie85]

now I have to send him some money to buy some food.

You don't have to do anything. You're doing it because you want to.

I have friends who are shopaholics and spend too much. Sometimes they get a bill and want me to pay for it and I don't do it. I tell them to sell that new dress or shoes they bought and pay the bill. It's not like they need 20 dresses right now, but they have to pay the bill now.

Looks like you need to teach your friend about priorities before you teach him about saving money.

[serjent05]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

I am wondering if you are talking about a bitcoin investment offered by a possible scam company or Bitcoin investment where he buy Bitcoin directly from the exchange.  If it is the latter, then I feel sorry for your friend since I believe after a month of investment, the promised profit (possible the salary you are talking about) wa not delivered and the company went rogue making your friend lost his investment.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Well, it is good to hear that you are helping your friend to recover.  I hope your friend learned his lesson well that he should only invest the money he can afford to lose.  Or accumulate  Bitcoin over time with the free money no matter how little it is.

[Fivestar4everMVP]

First, taking a loan to invest in bitcoin was a big mistake, secondly, being over confident in bitcoin in bitcoin is a mistake as well, i believe that his over confidence in bitcoin lead him into believing that within a month, bitcoin would have increased in price to a stage where he could pay off the loan and possibly get to keep some profit, but unfortunately, things didnt go as he planned.
he should have don a proper research and know that investing in bitcoin simply means investing for the long term, except for those who can trade the bitcoin market, which requires good trading knowledge to be successful in.

Anyways, I hope we all learn from the experience of your friend.

[mendace]

The weird part is that there are so many people who gets scammed while trying to scam, that's the weirdest part. Like for example if you click on something that says "free 1 bitcoin!!" and you get hacked, are you really an innocent person? Could you say that you weren't really doing something a bit fishy yourself? Who gives who free 20 thousand dollars?

It was obvious that you were trying to scam "someone" for it, even if the ad said so, it's obvious that this money would come out of someone and you were going to get it that easily? There are tons of people and situations that happened with similar mindset to this and I think I would say that it is not that easy.

Honestly, this is the craziest way to get scammed. If there are still people who believe that they can win 1 Bitcoin or even an iPhone, then I think it's only right that they get scammed. It's impossible to fall for such silly traps, even someone who isn't very familiar with the internet wouldn't be fooled if they had a bit of savvy.

Instead, I believe that there are people who currently contact you through social media and try to befriend you. These are petty individuals who have to spend all of their money on medicine.

[Mahanton]

The weird part is that there are so many people who gets scammed while trying to scam, that's the weirdest part. Like for example if you click on something that says "free 1 bitcoin!!" and you get hacked, are you really an innocent person? Could you say that you weren't really doing something a bit fishy yourself? Who gives who free 20 thousand dollars?

It was obvious that you were trying to scam "someone" for it, even if the ad said so, it's obvious that this money would come out of someone and you were going to get it that easily? There are tons of people and situations that happened with similar mindset to this and I think I would say that it is not that easy.

Honestly, this is the craziest way to get scammed. If there are still people who believe that they can win 1 Bitcoin or even an iPhone, then I think it's only right that they get scammed. It's impossible to fall for such silly traps, even someone who isn't very familiar with the internet wouldn't be fooled if they had a bit of savvy.

Instead, I believe that there are people who currently contact you through social media and try to befriend you. These are petty individuals who have to spend all of their money on medicine.

This isnt trying out to scam someone but rather you are really that greedy considering that you are clicking out that banner or ads showing about free 1 BTC which you do know deep inside that this one is really too good to be true since no one would be giving out some 20k in random which do only happens on dream this is why people do put up themselves on huge problem just because they are really that ignoring their sense.
If we are really just that sensible towards our actions then we wont really be falling out into this kind of situation where we do really put ourselves in harm.
In the case of on what OP had been saying that investing all in is harmful and being greedy do make it worst.Its not bad to invest but always know your limits and also your priorities that needs to be settled.

[Myleschetty]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

This is pure greed because he invested the amount he can't avoid losing and also borrow a loan which means he's only concerned about investing the Bitcoin without playing safe.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

If you have the money borrow him but I will advise you to only borrow the amount you can easily overlook cause people like him will still ask you for something more than he can pay back.

[Alisha-k]

Is it greed or the GET RICH QUICK syndrome?
Which ever one it happens to be, Bitcoin isn't a get-rich-quick scheme, even though the profits are real, it has to take a while so what's with the rush actually??

It's best you start with a certain percentage of what's already in your possession, lending for start shouldn't be an option.

And hey mate, true friendship isn't really defined by the many years the people involved may have lasted, it's defined by the many times we helped our friends rise up after a fall.
If you're in a more comfortable situation and you think there's a way you can help your friend, please do, it doesn't take anything really.

[nullama]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Debt is one of the worst things you can get. It's all about control.

Whoever owns your debt, controls you.

With Bitcoin, you don't have to have anyone controlling you. That's the point.

Your friend seemed to miss this.

[lienfaye]

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

Because many people think investing in Bitcoin is guaranteed and they can profit in a short period. Hence they're willing to take risk even it's not a spare money that they can afford to lose, much worse is if they take loan just to invest like what your friend did.

As I've said before taking loan to invest is not advisable but it depends on us if we can face the consequences of using a borrowed money to invest. Because if you're able to pay the loan regardless of the result of your investment that would be good, just shows you're responsible and won't end up in more debt. Anyhow, always apply the golden rule before investing and that is to only invest what you can afford to lose for your own sake.

[michellee]

Know Your Limits is a must for us, not only when we invest. But in investing, we must not exceed the budget limits that we have set and always try to follow them so that they do not exceed our budget and do not interfere with the budget for other things.

You get a valuable lesson from your friend so this is an example for you and all of us not to take a loan to invest. We can invest in small amounts of crypto and stick to that. That's okay too. What matters is how it will turn out in the future.

[NotATether]

Nobody should take a loan with a risky collateral to offer.

Unless it is guaranteed that you shall receive a salary from your employer (because you work for a company with an actual accounting department as opposed to freelancing for other people), don't use that as collateral.

[Raflesia]

Unless you promise the same thing to your friend then it's only natural that a little help there. because indeed the initial condition that your friend made was the mistake of doing everything on investment and borrowing for the sake of it as if crypto was an instant way to get rich.
This is clearly not justified, let alone borrowing money with the promise that you will pay back from the profits.

However, everyone here is also aware that investing in crypto is quite risky, so you don't need to do anything really too over the top to be here because it will only kill yourself.

It is always wise to think that there are risks to be considered when one wants to invest in crypto. Everyone has an acceptable level of risk threshold, and of course that includes budget amounts and origins. If they can only afford to lose $10K on their investment then that should be the maximum budget amount to invest, but if they can afford to risk $1M that should be fine too.

One just has to be aware that crypto investing is not a way to get rich quick, but behind the possible profits, there is a potential loss that they are very likely to experience due to market fluctuations. Even if they can afford to be responsible for their investment risks, it is always wise not to believe 100% in crypto without an emergency budget.

The stigma is still the same for new people because they are still very naive when they really think this is a place for people to get rich quick because they have seen some people who are usually seen from several streaming or some other social media platforms that always show profits in crypto that make them as suggested that if you really want to get rich instantly you have to be in crypto.
Believe it or not, the stigma is still like that even in this case I used to have thoughts like this.
Regardless of what you say, it's true, because we really have to know our limits, whether we can afford to lose or not, because if we don't, then don't ever try when you're not completely sure you're ready to lose.

[Tony116]

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

Because many people think investing in Bitcoin is guaranteed and they can profit in a short period. Hence they're willing to take risk even it's not a spare money that they can afford to lose, much worse is if they take loan just to invest like what your friend did.

As I've said before taking loan to invest is not advisable but it depends on us if we can face the consequences of using a borrowed money to invest. Because if you're able to pay the loan regardless of the result of your investment that would be good, just shows you're responsible and won't end up in more debt. Anyhow, always apply the golden rule before investing and that is to only invest what you can afford to lose for your own sake.

Yes, borrowing money to invest is risky, but in case you have a job with a stable income, you can consider borrowing a suitable amount to invest, as long as you ensure that even if that investment goes away, you can still pay that loan on time with your other income. But if you do not have a stable income, never consider borrowing even a small amount, let alone a larger amount. Whether investment or business is risky, we should take into account the worst case scenario that we encounter, do not think about profit but ignore the risk.

[Sanitough]

You're not responsible for his actions, nor are you obligated to lend him money. If you do, you may also consider them lost. You warned him against spending all his money and taking a loan, but he chose to ignore you. We've already seen numerous threads asking whether taking a loan to buy Bitcoin is a good idea or not, and I'm pretty sure your friend is not the only one who's gotten themselves into such a mess. Never invest more than you can afford, and never take anything for granted. You may be fired, made redundant, have your salary delayed, or experience anything else that you can't currently imagine.

True. Anyone who decides to invest should take responsibility of his own action and should be ready to face the possible consequences if ever his investment fails. That is why one should only invest at its own risk. But it seems your friend is not aware of the risks that is why he’s struggling right now. However, as a friend, it’s your decision if you will lend him him some money or not, but you should know that if you keep on providing for him, he will never learn his lesson and he will never be responsible of his own decision.

[dezoel]

Yes, OP it looks like your friend is already greedy on earning a profit on bitcoin, which is why he put every money he can find into it but why you still agree to lend him money despite all of what he gone through?

It will only worsen the situation. He will keep on repeating it when he is confident that someone is concerned on him and will lend him money to pay the other lenders. He can just choose to not pay you or less prioritize you because he knows that nothing bad will happen to him. Your friend might be single now but this attitude of him could change once he already have his own family because he will think of them first before his own self.

[nimogsm]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Your friend has fallen into the classic trap of his own greed and stupidity.my advice to you is not to lend him money in any case, so he will not learn the main lesson and will not understand anything.The best option for him is now to look for an additional source of income and close his loan.There are simply no other options.

[Russlenat]

Did you tell that to your friend? Because it sounded like he is now your responsibility.

Whoever gave him the idea that he can make huge amount of money after a month of investing really made him totally believed on it. I hope its not you because he really put it all down the line. Helping a friend in times of trouble is being a good friend and he seem to be in need and you are the one he calls for.  Hope you know him well and not trying to scam you. I'm not saying he is a scam but find out. Just a warning.

Your friend is never your responsibility so you don’t have to pressure yourself on lending him some money if you think you are also in need of your money. It’s good to help but if it’s already beyond your limits, then you should also think of yourself first before anyone else. And besides, you did not lack on reminding him to only invest with his spare money as losing is very inevitable, but he never listened so he should be ready whatever consequences of his own actions.

[Belarge]

If he's a friend that you can trust with your money that he might pay back, I would advise you to give him the the money to go pay the loaner , but he's someone you can't trust with your money, I will tell you to help him with the least money you can help him with, and maybe he should wait when he gets his salary so he can pay the loaner, nothing good comes easily, maybe the person that introduced him to Bitcoin mis-interpreted everything to him, and he thought the investment is all about profits,

Don't go beyond your limits, help him any way you can, and try to advise never to put all his money in Bitcoin, or either getting a loan for Bitcoin again, but if you advice and he insists, then avoid him and let him be,

[Distinctin]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

The greed for money will never guarantee good returns, instead it will only put yourself into a bigger problem that will eventually make you feel stress and frustrated. That is why we should only invest on our own savings so that if you lose them, at least you will not be pressured of gaining them back, unlike if you invest from your loaned money, you will really struggle on where to find  money to pay for it knowing its high interest will keep on growing and that really sucks.

And as his friend, of course he is expecting that you will help him in this tough times. However, the decision is yours. If you can help him, then go and lend him some amount. But if you think he should learn from his failed investment, you can actually help him not by lending money but by buying him some foods so he won’t starve to death.

[Mate2237]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Your story is not clear to me. Glancing through your story, I sense untrue in it. But there must be a comment in it so I will say it is not a greed from your friend side but I might call it unplanned investment. If really he planned before going into the investment everything would been working fine but I still believe that the money that borrowed from the lender is still available if the money he used in the investment is still in the wallet. So if the pressure of the lender is high he has to withdraw them and give to the women. As from your side. It is your friend, if like give him or not because you know him better then any other person.

[lalabotax]

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

It is all about money management. Managing money for our life must be balanced and affordable. It will depend on how able we are in spending money for life. It is true that everything in this life needs money, so we must have good management to make it more balanced.
Let's say that you want to do some investment, the first thing is not the investment but the money for your daily life. Without it, we will have nothing to do, although we have an investment in Bitcoin or others, it doesn't guarantee that the profits will come regularly. Additionally, you need to tell him that it is important to understand this fact: "Invest the amount that we can afford to lose". This means very deep. It means that we don't try too hard over our ability to invest in something. So that it will harm us because it is too greedy, too risky, and also not based on consideration.
I think that you have no responsibility to send him money because it is his fault, except you are the one who supports and invites him to invest and promise big profits in Bitcoin. This story becomes a good experience for everyone who wants to invest in Bitcoin or anything.

[carlfebz2]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Your story is not clear to me. Glancing through your story, I sense untrue in it. But there must be a comment in it so I will say it is not a greed from your friend side but I might call it unplanned investment. If really he planned before going into the investment everything would been working fine but I still believe that the money that borrowed from the lender is still available if the money he used in the investment is still in the wallet. So if the pressure of the lender is high he has to withdraw them and give to the women. As from your side. It is your friend, if like give him or not because you know him better then any other person.

Would really be that impossible eh? Yes, its true because when you are in the verge of getting being pressured and been suing out by someone because of your loan then it is really that impossible that you wont

consider it out on pulling those investment and would be repaying or would settle up your loans rather than on making yourself that hiding and keep on running away.This is why its never been that ideal on having that borrowed money to be invested on crypto specially if you are really that relying or depending on its profits.

You wouldn't know on when the market would pump out and if you dont have any other sources of repaying any loan then you would really be in big trouble.

[Yamifoud]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

He needs investment advice and that is your responsibility now. But based on his statement, doubted if he would listen to you. What I can see is that he already got an influence on what he sees on the internet bringing them a huge interest in putting his money into an investment that he is not really familiar with and does not even have experience with. Yes, that is already greediness and we know what is the possible outcome of such an idea, losing. If he won't listen, that was his decision and I believe you have done with your part already.

[Botnake]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

In the first place, you don’t have to let your greed motivate you into investing. Investing has its own risks, so one should never invest with greed to the extent of investing all your life savings, or taking some loans just to invest. Those were a big NO in all types of investments. I just hope your friend is aware about this before he starts to invest. Now, he is facing the consequences of his dumb decision, and it’s up to you if you will help him or you will try to let him suffer the results of his own greediness.

[BitDane]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

In the first place, you don’t have to let your greed motivate you into investing. Investing has its own risks, so one should never invest with greed to the extent of investing all your life savings, or taking some loans just to invest. Those were a big NO in all types of investments. I just hope your friend is aware about this before he starts to invest. Now, he is facing the consequences of his dumb decision, and it’s up to you if you will help him or you will try to let him suffer the results of his own greediness.

One investment I knew that can trigger greed that much and it is a Ponzi Scheme investment.  Just like what the earlier reply stated, it is possible that his friend is a victim of a ponzi scam.  Maybe his friend is promised a good return monthly so his friend, seeing how huge will be the possible profit decided to go all in even getting a loan to add more fund into the investment then the ponzi company run with the money.


It is a good thing to help a friend in need @OP.  I hope your friend had learned his lesson well and will recover quickly.  It has been advised that we must only invest the money we can afford to lose, is free and is not committed to any obligations in order for us to have no problem if the investment goes southward.

[Smartvirus]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

There isn't anything wrong in lending a hand to a friend every now and then. The main idea for me is that, you get to do only that which you would be comfortable doing, that which would bring you peace and some satisfaction other than, going out of your way then start regretting your actions.

Your friend probably never learned anything as, its always said you have to invest with what you can afford to lose. Clearly, loans aren't that and worst of all, it comes at a price #Interest.

How do one gets so sure over something that isn't within your control? It just gets shocking how they just come in and feel its all profit. If that was the case, you won't find people trying other trades, bitcoin would have surely been more of a trend than it is now if it cae without any risk.
Understanding the risk comes as a directive on how to place your funds. Your friend @OP needs to take things easy on himself and do more analysis on how to manage his finances to accommodate his needs, wants and excesses.

[Mahanton]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

In the first place, you don’t have to let your greed motivate you into investing. Investing has its own risks, so one should never invest with greed to the extent of investing all your life savings, or taking some loans just to invest. Those were a big NO in all types of investments. I just hope your friend is aware about this before he starts to invest. Now, he is facing the consequences of his dumb decision, and it’s up to you if you will help him or you will try to let him suffer the results of his own greediness.

When you are still noob then it cant really be denied that greed is something that you would commonly felt out on these kind of times on which you would really be thinking that you would really be rich for whatever things that you are intending to get involved with.This is really very wrong because when you do have this kind of mindset and beliefs on mind then you would definitely be ending up on lots of mistakes since you would really be that desperate for whatever things that you would be dealing with. Sooner or later you would be able to realize thats not how this thing works and you would find for yourself on what are the actual things needed
on making yourself that sustainable or able to survive specially into this unpredictable market.

[Cantsay]

A lot of persons, falls victims of fraud every time, all in the name of  Bitcoin investment. Probably got intimidated by some friends or somewhat websites that says 'pay this to get more'. You should at least be mind full of sites where you want to invest on, ask questions, make research's and try knowing more about the sites you are investing on.do not fall for all these get rich schemes. On the other hand, when you have finally found a legit site to invest, don't go to far, as much as taking loans from people just in the name of investment, I was a victim too and it wasn't good at all. I was down for a very long time, before I got back up on my feet. Yeah sure this was greed in the way that I totally forgot that I had other responsibilities to take care of and decided to put all my money into investment that never brought a return.

Most times it's because of greed; how will a site be offering free Bitcoin worth thousands of dollars for free and you still want to be part of it? Take your time and ask yourself some questions that could have prevented you or anyone else from making the stupid mistake of investing in such a site. Once a site promises you a reward that seems to good to be true just run far away from that site don't even contemplate of putting anything into the site not even a dime.

[Adbitco]

Only those who doesn't have a family that would likely invest with all their money wanting to get Richer overnight. Like me I have a family (Married) and whatever plans I have today I consider my family first and if in way I want to spend, I do have my spending limit and max I can go. Same as investment, I don't bundle all my money into any projects thinking I would made fortune out of it why because I know as a business man there always alternatives if the investment fails what would be the next remedy. So out of my income is being divided accordingly and I have a charity account where I do my charity spending and also having my family account where only is meant for my wife and baby at any point they have access to it. While for investment and gambling, whenever the funds are no longer there I don't conflicts issues by altering the next rather I would wait for the next month. For investment it's best advisable to always invest what will not hinder you or even what you can afford to loose. Everyone must understand that part of investment principles., Your friend don't have to borrow to run investment.

[posi]

Only those who doesn't have a family that would likely invest with all their money wanting to get Richer overnight.

Even if you don't have a family, you shouldn't be like OP's friend, debt will make you stuck, involve your parents or make you have negative thoughts. We all know that making money from outside work is not easy, so whether we are married or not, we should not squander our hard earned money. Never invest the total amount or with borrowed money, it will not make us better but instead will be a bleak future with debt.

[Kelvinid]

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

Planning and financial education are vital things when investing. We can't just put everything on investment as it was not a smart decision but only form some percentage like allocating 40%. As we are in the crypto world, the more we should be more careful in investing because the ROI is not fast and sometimes it takes years. That is why it is advisable to spread our funds to different investments so that whatever happens to other investments there is another to back it up.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

We can apply the DCAing strategy if we can. We always have to remember this - invest only the amount that we can afford, we don't need to exceed our limitations.

[bmwister]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.
If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

People fail to understand this phrase " invest what you can afford to loose"  this is absolutely the best form of Crypto investment where by  you do not need to panic when ever the market situation is going otherwise. You can not be under any pressure so as to quickly collect your capital because already you got a backup plan which is your source of income or profit from other business you so so far as you only invest a little to buy fractions of bitcoin at various intervals. Well seems OP friend was under pressure so as to meet up because no man can make such mistake up to the point of getting a loan for just a risky deal which you are not certainly sure of. OP you did good by supporting your friend with feeding. I commend your efforts but you should caution your friend not to make such mistake next time.

In my opinion, you don't need to have a large amount of money to start investing in crypto assets. "You can buy cryptocurrency for $100. It depends on what kind of token you want to buy.

But I agree with you. You should invest in cryptocurrencies only the money you can afford to lose. If the amount is large enough, you don't have to invest all 10% of your portfolio in risky assets. You can start with smaller percentages - 2-5-7%.

First, you need to set aside an amount that you are willing to lose easily. And buy cryptocurrency for 10% of this amount. This will be enough to start familiarizing yourself. And you should never invest your last money, or even worse, credit funds, in crypto assets.

[Finestream]

now I have to send him some money to buy some food.

You don't have to do anything. You're doing it because you want to.

I have friends who are shopaholics and spend too much. Sometimes they get a bill and want me to pay for it and I don't do it. I tell them to sell that new dress or shoes they bought and pay the bill. It's not like they need 20 dresses right now, but they have to pay the bill now.

Looks like you need to teach your friend about priorities before you teach him about saving money.

Friends are said to be shoulders to lend on when one is in a tough period. But I think it’s case to case basis too like what happened to your friend. He knows already the risks of investing all in with bitcoin but still he did not listen to you so maybe whatever he is facing right now should serve a lesson to learn. So my advice is never lend him money, let him find the solution to his own problem. But you can give him foods if you want so he can feed himself despite of the consequences he is into right now.

[anjiitem]

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

it looks like your friend is pushing his skills too hard for a big option. it all depends on how strong he is withstanding the pressure he will get when more financial problems your friend receives.
however he is your friend, even though it is troublesome, maybe you can help him a little regarding needs. instead of giving him money to survive. because maybe he will use some of the money he has to enter the market again.
let him work hard to solve his problems. if the pressure gets bigger, however, he has to let go of the Bitcoin investment he made to solve all the problems.

[Adbitco]

Only those who doesn't have a family that would likely invest with all their money wanting to get Richer overnight.

Even if you don't have a family, you shouldn't be like OP's friend, debt will make you stuck, involve your parents or make you have negative thoughts. We all know that making money from outside work is not easy, so whether we are married or not, we should not squander our hard earned money. Never invest the total amount or with borrowed money, it will not make us better but instead will be a bleak future with debt.

Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

[John Abraham]

Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

[Vaculin]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Investing needs not to be rushed but it takes a good plan before you will start doing it. And when you do, it’s best to invest at a spare money or from your own savings that you can manage to lose, not from a loan amount or money that is reserved to pay the bills. Because we all know that bitcoin investing is for long term, so we should not expect quick profits from it, the reason why we should only invest with extra money that we are not going to use. However, your friend still insist on his own timeline and his own way of investing. Whatever the consequences, he should bear them all responsibly. And you are not obliged to help him at all times, especially if it’s already crossing your limits.

[DeathAngel]

OP you can’t be responsible for your friends decisions. We are all adults here & we are responsible for our own financial decisions. Some people just can’t control themselves but that is not our responsibility. Bitcoin is the best performing asset of the last 10-15 years, anybody with half a brain & an ounce of patience can make good profits by simply holding for a few years.

I don’t have any sympathy for people who start taking loans & pawning out their belongings. This kind of ehavioyr is not required to do well in bitcoin.

[coinerer]

OP you can’t be responsible for your friends decisions. We are all adults here & we are responsible for our own financial decisions. Some people just can’t control themselves but that is not our responsibility. Bitcoin is the best performing asset of the last 10-15 years, anybody with half a brain & an ounce of patience can make good profits by simply holding for a few years.

No one will ever take the financial responsibility of someone else be it a friend or your brother. So always think about any investment or expenses according to your ability.  If he thinks more than his ability, he will never be successful.  The opposite will be in danger. I must think about my ability before doing anything and I will not accept anyone else's advice or decision blindly

[Davidvictorson]

This is a very sad story and I think not your friend needs to be more and speak more or seek counsel more from people in the Bitcoin community. If he had done this he wouldn't be in the mess he is at the moment. The dollar cost averaging strategy is one of the best strategies with which any newbie can easily without any stress on their finances get into Bitcoin.I just wonder why a lot of newbies ignore this strategy and instead jump into investing in Bitcoin with borrowed money which in the long run makes them lose their peace of mind.

[Falconer]

Investing needs not to be rushed but it takes a good plan before you will start doing it. And when you do, it’s best to invest at a spare money or from your own savings that you can manage to lose, not from a loan amount or money that is reserved to pay the bills. Because we all know that bitcoin investing is for long term, so we should not expect quick profits from it, the reason why we should only invest with extra money that we are not going to use. However, your friend still insist on his own timeline and his own way of investing. Whatever the consequences, he should bear them all responsibly. And you are not obliged to help him at all times, especially if it’s already crossing your limits.

It's not true that when someone expects quick returns on bitcoin investment, they won't get rich overnight unless they have tens of millions to invest. And it is true that it is highly discouraged to invest with hot money I mean unless they are doing it on a specific budget some kind of savings.

In the short term they are just traders, but in the long term they are investors. I think long term options would be better than day trading for those who are not familiar with how the market works. The best option is to buy and hold and profit from it in the long term instead of keeping money in the bank or something like that.

[Kasabus]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

He needs investment advice and that is your responsibility now. But based on his statement, doubted if he would listen to you. What I can see is that he already got an influence on what he sees on the internet bringing them a huge interest in putting his money into an investment that he is not really familiar with and does not even have experience with. Yes, that is already greediness and we know what is the possible outcome of such an idea, losing. If he won't listen, that was his decision and I believe you have done with your part already.

Greed is the most common reason why such people fail from their investments because they cannot focus on setting plans and actions for the investment to succeed, but rather they resort in thinking that it can make them rich quickly so they should put a huge amount to gain huge returns too, which I think won’t be possible if they don’t know well their investments in the first place. With this, your friend has clearly believe on crypto as a get-quick-rich scheme that’s why his actions are all based on greed and the desire to be fully profitable in the end.

[Hyphen(-)]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Yes, but it appears that your friend did not have enough knowledge about Crypto investment and lacked proper guidance, which is why he did all of this thinking Bitcoin investment is a quick money scheme, similar to how Ponzi schemes scam people.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

It is always advisable here in the forum that " You should not invest the money you can not afford to lose" therefore, borrowed money is a money no wan can afford losing therefore using the money for Bitcoin investment is a wrong idea because the risk is too high.

[rojan]

OP you can’t be responsible for your friends decisions. We are all adults here & we are responsible for our own financial decisions. Some people just can’t control themselves but that is not our responsibility. Bitcoin is the best performing asset of the last 10-15 years, anybody with half a brain & an ounce of patience can make good profits by simply holding for a few years.

No one will ever take the financial responsibility of someone else be it a friend or your brother. So always think about any investment or expenses according to your ability.  If he thinks more than his ability, he will never be successful.  The opposite will be in danger. I must think about my ability before doing anything and I will not accept anyone else's advice or decision blindly

Yes, I also think that before we invest, we should think our own thoughts and then invest. And if we don't do that, we have a big chance of losing money. But I have found that if we start trading on our own in the first place, we will make some money first.  If you lose, you can learn a lot from it later and there is no chance to lose any more money.

[BitcoinPanther]

OP you can’t be responsible for your friends decisions. We are all adults here & we are responsible for our own financial decisions. Some people just can’t control themselves but that is not our responsibility. Bitcoin is the best performing asset of the last 10-15 years, anybody with half a brain & an ounce of patience can make good profits by simply holding for a few years.

But still the guys is @OP's friend and probably a close one, so he can't just turn a blind eye on that person.  Besides, it is lending money and not giving money.  It means the money he gave to his friend will be returned one day.  Helping a friend in need when we have extra is a good feat.  Besides saying that our income or fund is more than enough means, it won't affect us financially even after giving the amount of money our friend needed.

I don’t have any sympathy for people who start taking loans & pawning out their belongings. This kind of ehavioyr is not required to do well in bitcoin.

To people who are not close to you, yes, but probably to your siblings or parents, I am sure you wont turn a blind eye on them.

[Viscore]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

The problem is your friend do not realized all of these, instead he invest everything he got and now he’s starting to suffer the consequences of his decision, and it seems he wants to obliged you in helping him out from this picture. I don’t want to say go on and help him because he needs you now, but instead help him realize his mistakes and eventually learn from it. Then he can understand you if you leave him solve his own problem if that’s the only way he will learn.

[Ziskinberg]

Greed is the most common reason why such people fail from their investments because they cannot focus on setting plans and actions for the investment to succeed, but rather they resort in thinking that it can make them rich quickly so they should put a huge amount to gain huge returns too, which I think won’t be possible if they don’t know well their investments in the first place. With this, your friend has clearly believe on crypto as a get-quick-rich scheme that’s why his actions are all based on greed and the desire to be fully profitable in the end.

Well, in that case, his friend will only not lose his money but might also lose their trust in each other. He was supposed to listen to what OP said to him for he has experience in the market but if he pushed his decision to put all of his money into his investment, I couldn't think if OP has any interest in helping him anymore. I'd see his confidence in crypto but having such a decision is not advisable and too risky.

[Wakate]

OP you can’t be responsible for your friends decisions. We are all adults here & we are responsible for our own financial decisions. Some people just can’t control themselves but that is not our responsibility. Bitcoin is the best performing asset of the last 10-15 years, anybody with half a brain & an ounce of patience can make good profits by simply holding for a few years.

I don’t have any sympathy for people who start taking loans & pawning out their belongings. This kind of ehavioyr is not required to do well in bitcoin.

since his friend chose to follow that part then he need to be prepared to bear the risk and consequences attached to his decision. Of his decision had went in the positive direction, he would have remind his friend and thank God that he ever followed his advise. Such is life and we should always prepared to learn from other people's mistake, not to wait till it happens to us.
Investing is good but when we do it in the wrong way then we might not make the right choice. We need to ask questions before doing anything or we might regret our decisions.

[coinerer]

OP you can’t be responsible for your friends decisions. We are all adults here & we are responsible for our own financial decisions. Some people just can’t control themselves but that is not our responsibility. Bitcoin is the best performing asset of the last 10-15 years, anybody with half a brain & an ounce of patience can make good profits by simply holding for a few years.

No one will ever take the financial responsibility of someone else be it a friend or your brother. So always think about any investment or expenses according to your ability.  If he thinks more than his ability, he will never be successful.  The opposite will be in danger. I must think about my ability before doing anything and I will not accept anyone else's advice or decision blindly

Yes, I also think that before we invest, we should think our own thoughts and then invest. And if we don't do that, we have a big chance of losing money. But I have found that if we start trading on our own in the first place, we will make some money first.  If you lose, you can learn a lot from it later and there is no chance to lose any more money.

I somewhat agree with you that if you invest somewhere and lose, you can learn something good and realize what you did wrong and become an expert yourself, but if you depend on others, it will only make you a temporary mine. but you can't learn from here and all the time you'll be another's exile. So always keep in mind that my motivation should not be how much someone else has invested but how much I can invest should be my motivation.

[nullama]

OP you can’t be responsible for your friends decisions. We are all adults here & we are responsible for our own financial decisions. Some people just can’t control themselves but that is not our responsibility. Bitcoin is the best performing asset of the last 10-15 years, anybody with half a brain & an ounce of patience can make good profits by simply holding for a few years.

I don’t have any sympathy for people who start taking loans & pawning out their belongings. This kind of ehavioyr is not required to do well in bitcoin.

Yeah, getting into debt to buy assets is not really the best way of doing it.

Debt should be avoided at all costs, because whoever you have that debt with, controls you.

With Bitcoin, you're free. There are no masters. It's something so new that many people don't get it.

[leonair]

OP you can’t be responsible for your friends decisions. We are all adults here & we are responsible for our own financial decisions. Some people just can’t control themselves but that is not our responsibility. Bitcoin is the best performing asset of the last 10-15 years, anybody with half a brain & an ounce of patience can make good profits by simply holding for a few years.

No one will ever take the financial responsibility of someone else be it a friend or your brother. So always think about any investment or expenses according to your ability.  If he thinks more than his ability, he will never be successful.  The opposite will be in danger. I must think about my ability before doing anything and I will not accept anyone else's advice or decision blindly

Yes, I also think that before we invest, we should think our own thoughts and then invest. And if we don't do that, we have a big chance of losing money. But I have found that if we start trading on our own in the first place, we will make some money first.  If you lose, you can learn a lot from it later and there is no chance to lose any more money.

I somewhat agree with you that if you invest somewhere and lose, you can learn something good and realize what you did wrong and become an expert yourself, but if you depend on others, it will only make you a temporary mine. but you can't learn from here and all the time you'll be another's exile. So always keep in mind that my motivation should not be how much someone else has invested but how much I can invest should be my motivation.

Mistakes will never teach you anything new if you don't try to find them. You must be passionate about learning something new or becoming an expert on something. a lot can be learned from being dependent on others and from advice from others, but in that case, after getting someone's advice, you need to do a good research on why he gave that advice. but don't waste time researching advice that you don't have the ability to implement. always focus more on things that you can implement or succeed in. that is the point

[D ltr]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

a very big mistake for this if investing by making a loan. because as we know bitcoin is not an investment that can make you rich in 1 month if market conditions are not friendly, if people benefit from investing in bitcoin they have been hoarding it for a long time, right just made a purchase when bitcoin is in hype
I can't stop thinking about your friend's behavior

[Adbitco]

Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

[BTCBroker2016]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

I know that he is your friend, but you have to set limits as well. I don't know if your friend knows the old adage in bitcoin invest,

"Invest what you can afford to lose".

If not then you have to remind him that. But if you want to stick with him, it's up to you, but you should advise him on what to do and not just rely on your good deeds as a friend, just saying.

These words are the best. Some people do not understand risk following after little possibility of success

[summonerrk]

Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

Before the economic crisis of 2007-2008, real estate was a profitable investment, a 100% success option. Now, if we consider portfolio diversification, then I would think well, consider it as one of the points of deposit distribution. Altcoins are a good solution for diversification. The fact is that altcoins are a great variety, and you should invest only in proven ones. Since new altcoins in the majority are a huge risk of stumbling upon deception. In addition to diversification through a variety of coins, I would consider diversification through earning methods - PoS, DeFi, etc.

[crunck]

Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

Before the economic crisis of 2007-2008, real estate was a profitable investment, a 100% success option. Now, if we consider portfolio diversification, then I would think well, consider it as one of the points of deposit distribution. Altcoins are a good solution for diversification. The fact is that altcoins are a great variety, and you should invest only in proven ones. Since new altcoins in the majority are a huge risk of stumbling upon deception. In addition to diversification through a variety of coins, I would consider diversification through earning methods - PoS, DeFi, etc.

Who told you that investing in altcoins is diversification? Diversification means investing in assets other than cryptocurrencies because the entire crypto market depends only on bitcoin, assuming bitcoin disappears, no altcoins can exist. So investing in altcoins is not called diversification. Invest in gold, real estate...

[yudi09]

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

The economic system prioritizes good management, including investing. Investment is a good step in organizing future finances.
I think you need to explain to him that this is not the style of investing. Even a small amount invested gradually is better than forcing yourself to ask others for loans.

It is not okay to take all the money to invest in Bitcoin as long as there are other savings to cover the daily needs of the family for those who already have children and wife. But as long as that is not fulfilled, then it is better for your friend not to force himself to do it because the market is very volatile.

[summonerrk]

Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

Before the economic crisis of 2007-2008, real estate was a profitable investment, a 100% success option. Now, if we consider portfolio diversification, then I would think well, consider it as one of the points of deposit distribution. Altcoins are a good solution for diversification. The fact is that altcoins are a great variety, and you should invest only in proven ones. Since new altcoins in the majority are a huge risk of stumbling upon deception. In addition to diversification through a variety of coins, I would consider diversification through earning methods - PoS, DeFi, etc.

Who told you that investing in altcoins is diversification? Diversification means investing in assets other than cryptocurrencies because the entire crypto market depends only on bitcoin, assuming bitcoin disappears, no altcoins can exist. So investing in altcoins is not called diversification. Invest in gold, real estate...

The concept of portfolio diversification through altcoins is constantly encountered - ask Google.
You understood everything correctly, but at the moment all the alcoins depend on bitcoin, but this is only because everyone believes in the classics, Bitcoin. How many times have there been articles about new altcoins that called these new concepts the Death of Bitcoin? And for good reason. No one could and cannot say - will there be a blockchain so perfect tomorrow that bitcoin will become just a classic, the first coin having an unnecessary slow blockchain?

[Adbitco]

Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

Before the economic crisis of 2007-2008, real estate was a profitable investment, a 100% success option. Now, if we consider portfolio diversification, then I would think well, consider it as one of the points of deposit distribution. Altcoins are a good solution for diversification. The fact is that altcoins are a great variety, and you should invest only in proven ones. Since new altcoins in the majority are a huge risk of stumbling upon deception. In addition to diversification through a variety of coins, I would consider diversification through earning methods - PoS, DeFi, etc.

Who told you that investing in altcoins is diversification? Diversification means investing in assets other than cryptocurrencies because the entire crypto market depends only on bitcoin, assuming bitcoin disappears, no altcoins can exist. So investing in altcoins is not called diversification. Invest in gold, real estate...

Well I don't know of you, others may sees it as a diversification, I don't support investing in an altcoin as it's more riskier to lose all your investment. Now lemme carefully explain what those projects owners does, they creates some token and promised what they can't even offer to investors in the name of concept and ended up deceiving you collecting your heart earn Eth, BNB, usdt and BTC. It's better to avoid them that waste your funds.

[molsewid]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

The thing is I think he invested in a scam, I mean in an MLM where they promise him that in small span of time his money maybe in bitcoin type will increase maybe about 2x or 3x, some other people who are new to crypto still believes in this thing, I wonder why he didn't ask you before. And I think the only way 6ou may able to help him is teach him that not all projects, ads or investments using the word bitcoin is true and he will get things so quick. It is kinda hard to be in that situation but eventually he will pass through it.

[Wiwo]

Don't call your friend a Bitcoin investor as he has possibly invested in one of those online Bitcoin scam projects who is Ponzi that lures and scams their victims using bitcoin.
-The same thing can happen through the fiat dollars and the rest of the other paper currencies so it is not only peculiar to Bitcoin alone.
-Because there is no way your friend will lose holding Bitcoin,  and from the look of things your friend does not have basic knowledge of bitcoin and investment.
-And even you seem not to also be knowledgeable enough to educate your friend at this point, so this is going to be a long walk for both of you of am to advise, I will say you should avoid the Ponzi scheme and all the other investments because 99.9% of them are scam.

[crunck]

Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

Before the economic crisis of 2007-2008, real estate was a profitable investment, a 100% success option. Now, if we consider portfolio diversification, then I would think well, consider it as one of the points of deposit distribution. Altcoins are a good solution for diversification. The fact is that altcoins are a great variety, and you should invest only in proven ones. Since new altcoins in the majority are a huge risk of stumbling upon deception. In addition to diversification through a variety of coins, I would consider diversification through earning methods - PoS, DeFi, etc.

Who told you that investing in altcoins is diversification? Diversification means investing in assets other than cryptocurrencies because the entire crypto market depends only on bitcoin, assuming bitcoin disappears, no altcoins can exist. So investing in altcoins is not called diversification. Invest in gold, real estate...

The concept of portfolio diversification through altcoins is constantly encountered - ask Google.
You understood everything correctly, but at the moment all the alcoins depend on bitcoin, but this is only because everyone believes in the classics, Bitcoin. How many times have there been articles about new altcoins that called these new concepts the Death of Bitcoin? And for good reason. No one could and cannot say - will there be a blockchain so perfect tomorrow that bitcoin will become just a classic, the first coin having an unnecessary slow blockchain?

Why do you invest with your money and you go ask google? You don't trust your knowledge? When the crypto market works like the stock market, i.e. the tokens work independently without being too dependent on a certain coin, then I think investing in altcoins is called diversified. But nowadays, altcoins' life and death completely depend on bitcoin, so it is wrong to say that investing in altcoins is diversification.

[MoonOfLife]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

The thing is I think he invested in a scam, I mean in an MLM where they promise him that in small span of time his money maybe in bitcoin type will increase maybe about 2x or 3x, some other people who are new to crypto still believes in this thing, I wonder why he didn't ask you before. And I think the only way 6ou may able to help him is teach him that not all projects, ads or investments using the word bitcoin is true and he will get things so quick. It is kinda hard to be in that situation but eventually he will pass through it.

We don't need to know if OP's friend invested in bitcoin or a scam MLM project, but we shouldn't invest with all our savings either. Even if it is bitcoin, it is no guarantee that his money will not be lost, bitcoin is also risky. OP's reminder is very true no matter where we invest but never invest all your money, it is wrong and not recommended.

[summonerrk]

Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

Before the economic crisis of 2007-2008, real estate was a profitable investment, a 100% success option. Now, if we consider portfolio diversification, then I would think well, consider it as one of the points of deposit distribution. Altcoins are a good solution for diversification. The fact is that altcoins are a great variety, and you should invest only in proven ones. Since new altcoins in the majority are a huge risk of stumbling upon deception. In addition to diversification through a variety of coins, I would consider diversification through earning methods - PoS, DeFi, etc.

Who told you that investing in altcoins is diversification? Diversification means investing in assets other than cryptocurrencies because the entire crypto market depends only on bitcoin, assuming bitcoin disappears, no altcoins can exist. So investing in altcoins is not called diversification. Invest in gold, real estate...

The concept of portfolio diversification through altcoins is constantly encountered - ask Google.
You understood everything correctly, but at the moment all the alcoins depend on bitcoin, but this is only because everyone believes in the classics, Bitcoin. How many times have there been articles about new altcoins that called these new concepts the Death of Bitcoin? And for good reason. No one could and cannot say - will there be a blockchain so perfect tomorrow that bitcoin will become just a classic, the first coin having an unnecessary slow blockchain?

Why do you invest with your money and you go ask google? You don't trust your knowledge? When the crypto market works like the stock market, i.e. the tokens work independently without being too dependent on a certain coin, then I think investing in altcoins is called diversified. But nowadays, altcoins' life and death completely depend on bitcoin, so it is wrong to say that investing in altcoins is diversification.

And you are not interested in other opinions, but always insist only on your own? For a long time there has been a tendency to weaken the dependence of the price of Altcoins on Bitcoin. Read about the Pearson coefficient for Altcoins and BTC. And also the correlation betwwen BTC with Solana.
And doesn't it seem strange to you that Bitcoin with an outdated blockchain will always be the central cryptocurrency?

[danadc]

Don't call your friend a Bitcoin investor as he has possibly invested in one of those online Bitcoin scam projects who is Ponzi that lures and scams their victims using bitcoin.
-The same thing can happen through the fiat dollars and the rest of the other paper currencies so it is not only peculiar to Bitcoin alone.
-Because there is no way your friend will lose holding Bitcoin,  and from the look of things your friend does not have basic knowledge of bitcoin and investment.
-And even you seem not to also be knowledgeable enough to educate your friend at this point, so this is going to be a long walk for both of you of am to advise, I will say you should avoid the Ponzi scheme and all the other investments because 99.9% of them are scam.

One of the things that people fall for the most is the ponzi scheme, they may not believe in Bitcoin but if they are offered a ponzi scheme with Bitcoin they will take it because they talk about profits in a short time, and it is impossible for anyone to enter a scheme With 10usd I left in 4 weeks with 1500 dollars, that was done in my country and people got involved as if it were the only thing that existed to earn money and for some it did not end well because when it comes to money things can get out of control, Not everyone reacts the same when it comes to money being taken from them.

[kelechi]

Don't call your friend a Bitcoin investor as he has possibly invested in one of those online Bitcoin scam projects who is Ponzi that lures and scams their victims using bitcoin.
-The same thing can happen through the fiat dollars and the rest of the other paper currencies so it is not only peculiar to Bitcoin alone.
-Because there is no way your friend will lose holding Bitcoin,  and from the look of things your friend does not have basic knowledge of bitcoin and investment.
-And even you seem not to also be knowledgeable enough to educate your friend at this point, so this is going to be a long walk for both of you of am to advise, I will say you should avoid the Ponzi scheme and all the other investments because 99.9% of them are scam.

Actually it is harder to make them understand it is scamm and they should not "invest" more

[Dr.Osh]

The risk of an all-in investment is something like this. the bad thing is that he doesn't even invest what he has, he dares to borrow money to invest in crypto. well, I feel it was a bad decision. even more so if he does not guarantee that the place of investment is a legit place. I'm curious, where did he invest, what was the price of the bitcoin he bought, and what was the promised payment amount?

However, investing in crypto is something that can be very profitable, but we need to be aware of the risks. There's been a lot of advice given not to use the money you're currently using, and to use money that doesn't affect your life. However, many people are willing to take risks when they hear other people's success stories. well, it doesn't matter to people who are ready to take the risk. but when something like this happens, I think a lot of people are not ready. However, this is a lesson for all of us not to rush into decisions. I can only feel sorry for what happened to your friend.

[Inwestour]

One of the things that people fall for the most is the ponzi scheme, they may not believe in Bitcoin but if they are offered a ponzi scheme with Bitcoin they will take it because they talk about profits in a short time, and it is impossible for anyone to enter a scheme With 10usd I left in 4 weeks with 1500 dollars, that was done in my country and people got involved as if it were the only thing that existed to earn money and for some it did not end well because when it comes to money things can get out of control, Not everyone reacts the same when it comes to money being taken from them.

Well, if there is an understanding where you carry your money, and even more so when you know that this is a financial pyramid, then what can be the claims? In this case, you need to be prepared to be left without money.

Even when it comes to investing in bitcoin, there is a lot of talk about investing only the amount you are willing to lose. It doesn't have to be this way, but it's like a warning that this is an investment with a lot of risk. And this is even more true for everything else, all other tokens except for bitcoin, which carry even much greater risks.

Investments must be diversified, this will protect you. If you nevertheless place more emphasis on some direction, then this is only under your responsibility. Most of my investments are in bitcoin, but I understand what I'm doing.

[fadhilz123]

We don't need to know if OP's friend invested in bitcoin or a scam MLM project, but we shouldn't invest with all our savings either. Even if it is bitcoin, it is no guarantee that his money will not be lost, bitcoin is also risky. OP's reminder is very true no matter where we invest but never invest all your money, it is wrong and not recommended.

Most of these investors are people with very mature and mature minds, so they can certainly manage their own assets very well. And in terms of investing, it is not recommended to be too forced because everyone has necessities of life that must always be taken care of as well, so you need to set aside money for this besides investing in the hope of future profits.

Well, in this case it is very important to make a selection of the funds to be used and that includes for investment because after everything is arranged very well and seeing that there are excess funds to make investments, that's where the decision to invest is made appropriately. Not when you have money to make an investment and the next day you have to endure hunger.

[Mr.corol]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

In my opinion, if he had invested some of his money in Bitcoin, he wouldn't be so poor. But because of his mistake he is destitute today. We must be careful not to make the same mistake as this brother. None of us will invest in Bitcoin beyond our means.

But when the brother is absolutely destitute. If only I had such resources and qualifications. Then I would have helped that brother a little. I pray that he can quickly return to his previous position.

[Godday]

This is great advice for beginners in the world of investing.  Currently, I have found many of my investor friends who have experienced losses in stock or crypto trading.  Perhaps this is because they have been influenced by their fellow leaders who make many promises of profit.  They have told many good things about an investment but they have forgotten to tell about the risks they will face in the world of stock or crypto trading.  I think it's good for new investors to continue to learn from old investors who have learned a lot in the world of trading.

[Mate2237]

Is it that the bitcoin that he invested in was also lost? If not why worry and and you are saying he so poor. I never get your point very well.  Greedy? How? For investing in bitcoin is a nice investment and he will never regret in it. The only area I will consider is the area the salary was not paid to settle the loan and the interest is rising every day, week or month all depends on the agreement between the two parties. Since he is your friend and you know that definitely he will make profit from the bitcoin investment, and also to stop the rising of the interest rate, I advise you to help him to pay the loan.

Taking loan to invest in bitcoin is not good but he has done it so the next thing now is to find solution which can solve it.

[Wiwo]

()

Actually it is harder to make them understand it is a scam and they should not "invest" more

When scammers get a hold on someone they are sometimes uncontrollable until they are 100% scammed then their eyes will open, I don't believe in any cryptocurrency business or investment that has to do with third-party involvement because bitcoin is designed to eliminate their party system that has been a proven scam any time.
-It is better to build your knowledge and skills, to be able to carry out every activity that you think is profiting in bitcoin rather than letting another person do that for you.

[Smartprofit]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Yes, in my opinion, your friend did something rash. 

He is wrong if he thinks that bitcoin can rise significantly in price suddenly in 1 month in a bear market.  It's possible, but unlikely. 

However, it is possible that this story will have a happy ending.  Yes, given the current situation, your friend will have a hard time.  However, bitcoin is a very promising deflationary asset.  The price of bitcoin will certainly increase significantly in the future. 

If your friend manages to solve current problems, such as finding a part-time job to pay off a loan and pay current expenses, then in the future he can hit a big jackpot when the price of bitcoin reaches a new high.

[Fivestar4everMVP]

This is great advice for beginners in the world of investing.  Currently, I have found many of my investor friends who have experienced losses in stock or crypto trading.  Perhaps this is because they have been influenced by their fellow leaders who make many promises of profit.  They have told many good things about an investment but they have forgotten to tell about the risks they will face in the world of stock or crypto trading.  I think it's good for new investors to continue to learn from old investors who have learned a lot in the world of trading.

You are not so far from the truth, there are many who start off with the wrong mindset, and this is as a result of wrong sensitization from those who introduced them to bitcoin and crypto, I have come across some people who buy bitcoin and expect to make millions from it in a week or even lesser, other go on buying random shitcoins believing it could pump so hard in a day or two so they could make alot of money, then withdraw and move on to the next, but sooner that they expected, they are hit with the reality that bitcoin, or crypto in general, is not a get rich quick scheme, many end up giving up, but those who are patient enough to wait, and build themselves as they wait, end up benefiting greatly.

[Fara Chan]

Some people don't understand what exactly is said about Investing in Crypto, but what your friend is doing is not a wise move, using all the money and including a loan in investing in Crypto this is a bad job and even very ineffective to do, we can said he is greedy here, this is one very bad example in Crypto investment, I think your friend does not fully understand the words that people often say "What investment will you be able to afford to lose" in the sense of being prepared to lose in the event of a crash or error .

[Mahanton]

Some people don't understand what exactly is said about Investing in Crypto, but what your friend is doing is not a wise move, using all the money and including a loan in investing in Crypto this is a bad job and even very ineffective to do, we can said he is greedy here, this is one very bad example in Crypto investment, I think your friend does not fully understand the words that people often say "What investment will you be able to afford to lose" in the sense of being prepared to lose in the event of a crash or error .

When you are a complete noob and seen someone who do make huge or lots of profits then you would definitely doing the next move;

1. Tend to buy some crypto
2. Trade immediately or Invest
3. Going all in
4. Believing and waiting that they could be rich overnight.

This is the primary or common mistake when we are still a noob but sooner or later you would realize on whats the real deal within this market.

[akuntester1]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Taking big risks sometimes will bring big profits too if the calculations are right and accompanied by luck.
But I think what your friend did was purely blinded by greed.
People who take high risks are likely to still have a backup plan if the decision fails to reach.
I don't know or maybe your friend is in a very depressed mental state so just put all the money in and apply for a loan to invest in Bitcoin like that.
Forgive me in advance, I don't mean to insult or condescending your friend OP.
I will use this again and again to remind myself to be able to manage my emotions, make clear plans and not be blinded by greed when investing in crypto.
You are a good person OP, you take care of your friends like your own siblings.

[Fatunad]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Taking big risks sometimes will bring big profits too if the calculations are right and accompanied by luck.
But I think what your friend did was purely blinded by greed.
People who take high risks are likely to still have a backup plan if the decision fails to reach.
I don't know or maybe your friend is in a very depressed mental state so just put all the money in and apply for a loan to invest in Bitcoin like that.
Forgive me in advance, I don't mean to insult or condescending your friend OP.
I will use this again and again to remind myself to be able to manage my emotions, make clear plans and not be blinded by greed when investing in crypto.
You are a good person OP, you take care of your friends like your own siblings.

Rewards would always reflect out on how much you had risks out and we know that each person does have their own level of risk taking.It is really just true that you would be needing to set up limitations on whatever you are dealing with specially if in talks of money or investment. Always set out limits and border line on which you could only afford to lose. There's no assurance on making profits here on crypto space.
It is really just that there are people who arent really just good on their emotions and this is why they do really end up impulsive when it comes into their decisions.

[Charmekkd]

Indeed, around us, sometimes there are always people like that, namely investing with capital from loans, which of course is not a profit that can be obtained, but a loss that can be obtained.

Your post is an example for us so that we don't follow in the footsteps of your friend you who is too hasty in taking action to invest even though the investment must be with idle capital so that it is more comfortable when investing.

but you are very kind because you have helped your friend who is sad ... don't forget you have to remind him so he doesn't make mistakes again like he did.

[Bazzu]

Yes, this is an example for people who invest using borrowed money, because after all, the borrowed money will not be comfortable to use either.
but I suggest to you OP to cheer up your friend so he gets excited again, and make an example of what happened for him so he doesn't repeat it again.

Indeed, many investments with money from loans have succeeded, but many have failed.

[Fara Chan]

Some people don't understand what exactly is said about Investing in Crypto, but what your friend is doing is not a wise move, using all the money and including a loan in investing in Crypto this is a bad job and even very ineffective to do, we can said he is greedy here, this is one very bad example in Crypto investment, I think your friend does not fully understand the words that people often say "What investment will you be able to afford to lose" in the sense of being prepared to lose in the event of a crash or error .

When you are a complete noob and seen someone who do make huge or lots of profits then you would definitely doing the next move;

1. Tend to buy some crypto
2. Trade immediately or Invest
3. Going all in
4. Believing and waiting that they could be rich overnight.

This is the primary or common mistake when we are still a noob but sooner or later you would realize on whats the real deal within this market.

Yes of course that kind of thing will happen, when you see someone succeeding in their work people will tend to do it, especially in this crypto section, so many people flock to have crypto assets and are looking for more here, but behind all this of course there are those who follow him by having bad ambitions for the future, in the sense that they are greedy to have them so that they believe they will be rich in an instant, this includes bad ambitions.

Indeed, around us, sometimes there are always people like that, namely investing with capital from loans, which of course is not a profit that can be obtained, but a loss that can be obtained.

Those who jump into the world of cryptocurrencies to invest using loans, I think this is not very good, what I understand about this is that they are just in a state of uncertain ambition, they even forget what it means to fully invest in cryptocurrencies, using a loan to invest is divided into two, the first is that it is likely that he will find it difficult to repay the loan, and if it succeeds, it will benefit him imperfectly, but this is very risky compared to investments made by people in general.

[FanEagle]

I agree that learning from your past mistakes and not repeating them is the only way to move forward. If you make a mistake and move away from it and never try again, then you didn't actually profited from that loss, it is just a pure loss and it's a bad thing.

In order to make that count for something, you should be aware of the situation you were in, why you made a loss, and try again while not making the same mistake again. This way, at least your mistake didn't go for waste, you did it once and if you don't repeat it then it's a good thing for your future, you could recoup that loss and do better. That's at least what I believe should be the path moving forward better.

[borovichok]

I agree that learning from your past mistakes and not repeating them is the only way to move forward. If you make a mistake and move away from it and never try again, then you didn't actually profited from that loss, it is just a pure loss and it's a bad thing.

In order to make that count for something, you should be aware of the situation you were in, why you made a loss, and try again while not making the same mistake again. This way, at least your mistake didn't go for waste, you did it once and if you don't repeat it then it's a good thing for your future, you could recoup that loss and do better. That's at least what I believe should be the path moving forward better.

By understanding the factors that led to loss and the solutions intended to prevent such errors, one can minimize errors to their lowest rate possible. Creating sound strategies to expand in terms of handling projects, identifying the road maps for each project prior to investment or effective implementation. Although if mistakes are unavoidable, there is always an opportunity to learn from them and become stronger than before. The past hurts, especially when one loses significant assets due to bear season, therefore it's important to compare your mistakes to the present in order to make improvements and the potential for greater earnings.

[danadc]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

The thing is I think he invested in a scam, I mean in an MLM where they promise him that in small span of time his money maybe in bitcoin type will increase maybe about 2x or 3x, some other people who are new to crypto still believes in this thing, I wonder why he didn't ask you before. And I think the only way 6ou may able to help him is teach him that not all projects, ads or investments using the word bitcoin is true and he will get things so quick. It is kinda hard to be in that situation but eventually he will pass through it.

We don't need to know if OP's friend invested in bitcoin or a scam MLM project, but we shouldn't invest with all our savings either. Even if it is bitcoin, it is no guarantee that his money will not be lost, bitcoin is also risky. OP's reminder is very true no matter where we invest but never invest all your money, it is wrong and not recommended.

It is a pity that things went wrong for having lent and not having been able to pay on time, but the mistake was that he said he was going to pay in 1 month and that was very bad, if he is going to pay money The market should not be trusted due to such high volatility. The best thing would have been to have established a loan with better payment options in installments. Payments in weekly installments are a better option so as not to allow all the money to accumulate for one payment, if establishes a weekly payment forces the person to have to look for payment in any way so as not to fail.

[n0ne]

As every form of investment, bitcoin too have the risks associated with it. Apart, it is the volatility and the working mechanism makes the market highly riskier than the traditional forms of investment. Next thing with stock market users have better knowledge and they easily predict the growth pattern of the market. This isn't possible with bitcoin. Likewise many factors keep bitcoin aside from the traditional market. For that reason it is really a must to learn before making your footsteps into bitcoin.

[RenaldoCusmano]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

You don't have to lend him money, and you're not accountable for his conduct. You could also think of them as lost if you do that. You cautioned him against blowing through his savings and getting a loan, but he opted to disregard your advice. I'm confident that your acquaintance is not the only one who has gotten himself into such a predicament because we've already seen a lot of discussions discussing if taking out a loan to acquire Bitcoin is a good idea or not. Never invest more money than you can afford to lose, and never assume anything. You might lose your job, be forced to take a reduction in pay, have your paycheck delayed, or go through anything else you can't currently fathom.

[nullama]

As every form of investment, bitcoin too have the risks associated with it. Apart, it is the volatility and the working mechanism makes the market highly riskier than the traditional forms of investment. Next thing with stock market users have better knowledge and they easily predict the growth pattern of the market. This isn't possible with bitcoin. Likewise many factors keep bitcoin aside from the traditional market. For that reason it is really a must to learn before making your footsteps into bitcoin.

At the end of the day Bitcoin is simply a savings account, with the added benefit that there's no inflation affecting it.

So, instead of worrying too much about the price, it's probably a good idea to just save in Bitcoin for the long term.