Know your limit

[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.