I gave investment advice to my grandfather.

[Wexnident]

My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.

My only question to all, was I able to give my grandfather the right advice??

Rather confused if you asked him to invest all or invest a part. If it was the former then you should probably take it back and ask him to split his investments to other stuff he's able to, maybe less volatile ones compared to Bitcoin. If it was the latter then yea sure, but I'd probably teach him about Bitcoin instead and let him decide for himself. If he doesn't understand it then I sure as hell will not force him to invest in it, no matter how much I believe in Bitcoin and it's a possibility as a good investment. After all, it's only a "possibility" and additionally, it's not my money.

If I can take responsibility for the investment though then maybe I'd handle it myself.

[crunck]

My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.

My only question to all, was I able to give my grandfather the right advice??

My question is, how old is your grandfather? Why don't you let your grandfather enjoy his last days? Why invest in old age? Instead of advising my grandfather to invest, I will try to give him a fulfilling life at the end of his life. We invest also to find a comfortable life in old age, so treat your grandfather well. Because when you have a lot of money, you can't take it with you when you die.

[GreatArkansas]

(.....)
My only question to all, was I able to give my grandfather the right advice??

For me yes, but if I were you, you need your grandfather first to educate what Bitcoin is, not only for investment so he will understand what he is investing in. Because if it's just your will or you are the only one who understands it, it's useless.
So that he will also know what he is getting into it.

[xSkylarx]

That word "You will sit in the street if your investment is a loss" will really woke him up. We are almost the same approach if i am giving someone advice at first I'll discuss the information and how to earn profit then I'll slap them with hard truth about lossing it so that only those who are really eager to learn and try to prevent the losses will invest in because most of us are just telling the good stuff not the bad stuff

[Mr.corol]

My question is, how old is your grandfather? Why don't you let your grandfather enjoy his last days? Why invest in old age? Instead of advising my grandfather to invest, I will try to give him a fulfilling life at the end of his life. We invest also to find a comfortable life in old age, so treat your grandfather well. Because when you have a lot of money, you can't take it with you when you die.

Grandfather will be about 70 years old. I love and care for my grandfather very much. Grandfather understandably wants to invest in Bitcoin. The value of 1 rupee today and 1 rupee in the future is very different. This is what we call inflation. Since Bitcoin is a volatile digital cryptocurrency currency. So my grandfather got interested in investing in Bitcoin. I fully explained to my grandfather that Bitcoin has both profit and loss.

[AllYourBitcoinRBelong2Us]

My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.

My only question to all, was I able to give my grandfather the right advice??

Sounds like a horror story from r/wallstreetbets waiting to happen. Never put money that you can't afford to lose into something. I'm not sure how much money your grandfather put into bitcoin but by the words of your post, it seems like a crazy amount of money. Hopefully, all goes well but good luck.

[coinerer]

My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.

My only question to all, was I able to give my grandfather the right advice??

I don't know how old you are but if I estimate your age in your 20's then your grandfather is around 60 to 70 years old so it's really plausible that your grandfather is interested in Bitcoin at this age. But always advise your grandfather and explain how risky it is to invest in Bitcoin and that he should take that risk and invest and follow DCA instead of investing all his money at once or he will be heartbroken if he loses big at this age. Can die from an heart attack 

[noorman0]

-snip-
My only question to all, was I able to give my grandfather the right advice??

Add this piece to the list of advice, bitcoin in general is a long-term investment for a real visible profit. However, it is actually worrying to see that your grandpa is too old to expect to enjoy the return on his investment. I would especially like to reassure him for what purpose he is investing in his old age.

[S A KHAIR]

My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.

My only question to all, was I able to give my grandfather the right advice??

I don't know how old you are but if I estimate your age in your 20's then your grandfather is around 60 to 70 years old so it's really plausible that your grandfather is interested in Bitcoin at this age. But always advise your grandfather and explain how risky it is to invest in Bitcoin and that he should take that risk and invest and follow DCA instead of investing all his money at once or he will be heartbroken if he loses big at this age. Can die from an heart attack 

OP said he explained to his grandfather about the risks but I really doubt that his great grandfather didn't fully understand what he was saying. He is also a newbie in the market, he has not experienced the feeling of loss how can he pass all the risk on to others? A person who has never experienced a bear season with extreme volatility and knows only about the risks from other people's accounts will not have enough experience to give investment advice to others.

[jayce]

With risks from bitcoin investment, I guess your grandfather will have a hard time managing bitcoin especially when the market is showing some recession or when there is sudden decline in bitcoin price. So I would agree more if he will just enjoy his wealth while he is still alive or share some of his wealth into his children so they can start investing if they want. Investments are not for golden age people, it will only make their remaining days stressful and become deprived from the possibility of enjoying their life.

Yeah that's the point, it's better for these elderly to just avoid any possible stress sources such an investment, especially on some volatile and short-time-unpredictable thing like crypto. They have spend most of their age to work and they deserve to take a long break in their retirement. Sharing some of the wealth to their descendants would be a good option too, and just let these younger people to invest. The grandpa happy to share his wealth to his grandchild, and the grandchild happy to accept it. I see absolute win-win situation here.

[Nrcewker]

My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.

My only question to all, was I able to give my grandfather the right advice??

Not only Bitcoins, but in all types of investments, there is risk. It’s good to know that you advised your grandfather to not invest in Bitcoins. As Bitcoins don’t give instant returns, rather Bitcoins are for long term investments. It would be even great if you can advise your grandfather to not invest in anywhere. As let him enjoy his retirement life with no tension and with his wealth and pensions. If your grandfather is happy with what he has achieved and can live the rest of his life without any suffering or pain, then it’s best for your grandfather to chill and enjoy. That will be more than sufficient.

[CageMabok]

Grandfather will be about 70 years old. I love and care for my grandfather very much. Grandfather understandably wants to invest in Bitcoin. The value of 1 rupee today and 1 rupee in the future is very different. This is what we call inflation. Since Bitcoin is a volatile digital cryptocurrency currency. So my grandfather got interested in investing in Bitcoin. I fully explained to my grandfather that Bitcoin has both profit and loss.

Apart from you having to tell your grandfather about the advantages and disadvantages of investing, you also have to tell him that it is time for someone who is too old like your grandfather to rest more and not need to think more about investing even though it is also not wrong if he want to do it by learning from yourself.

But people who are too old with 70 years of age will actually be better off if they are able to take care of themselves by maintaining their health without thinking about many things because everything must be left up to the next generation like you.

[paid2]

There is no right or wrong advice, there is only advice.

What I mean is that as long as you are honest and your grandfather knows the risks and potential limitations of his investment, then he knows what is best for himself. Some people live well without savings, others need to live without taking any risks. We are all different, your advice could be great for me, and horrible for my mother.

Personally having done ALL IN in Bitcoin has never put me out on the street, it has gotten me out. But it's clear that it's hard to be objective, for me having done all in BTC at the time was not very risky, because I didn't have much.

The real positive thing, apart from the risk of your grandfather's decision, is that you educated him on a potential lever of freedom, and that apparently thanks to you, one more person seems to have understood BTC. As long as he understands what he is doing, and is aware of all the risks, his decision can't be wrong. If you are willing to take all the consequences of your investments, there is no pressure. I guess he wouldn't make a decision that could send him out on the street

[coinerer]

My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.

My only question to all, was I able to give my grandfather the right advice??

I don't know how old you are but if I estimate your age in your 20's then your grandfather is around 60 to 70 years old so it's really plausible that your grandfather is interested in Bitcoin at this age. But always advise your grandfather and explain how risky it is to invest in Bitcoin and that he should take that risk and invest and follow DCA instead of investing all his money at once or he will be heartbroken if he loses big at this age. Can die from an heart attack 

OP said he explained to his grandfather about the risks but I really doubt that his great grandfather didn't fully understand what he was saying. He is also a newbie in the market, he has not experienced the feeling of loss how can he pass all the risk on to others? A person who has never experienced a bear season with extreme volatility and knows only about the risks from other people's accounts will not have enough experience to give investment advice to others.

op is new to this forum but maybe he already knows about bitcoin from long before. if his story is true. Now every day such stories are seen in this forum now it is very difficult to understand which is true story and which is false especially newbie accounts are constantly posting different kinds of stories to get some merit to rank up the account.  I still confused that the op's story is true. But whether the story is true or false he has got a merit that is his worth

[posi]

Grandfather will be about 70 years old. I love and care for my grandfather very much. Grandfather understandably wants to invest in Bitcoin. The value of 1 rupee today and 1 rupee in the future is very different. This is what we call inflation. Since Bitcoin is a volatile digital cryptocurrency currency. So my grandfather got interested in investing in Bitcoin. I fully explained to my grandfather that Bitcoin has both profit and loss.

Apart from you having to tell your grandfather about the advantages and disadvantages of investing, you also have to tell him that it is time for someone who is too old like your grandfather to rest more and not need to think more about investing even though it is also not wrong if he want to do it by learning from yourself.

But people who are too old with 70 years of age will actually be better off if they are able to take care of themselves by maintaining their health without thinking about many things because everything must be left up to the next generation like you.

There's nothing wrong with OP talking about bitcoin with his grandfather, but if it were me, I would stop my grandfather from investing in bitcoin. Because as you say: a person is 70 years old, it's time to enjoy life and health is the most important thing in the moment. Even if it turns out to be profitable, it won't make him young again to enjoy them. But if he's a geek and likes to explore new things, then it won't be a problem for him to invest, but don't let him invest all of his savings.

[Ziskinberg]

That is great advice and not only that, it also educates your grandfather about the risk involved in investing in crypto. Because most of the time we just see the positive side of investing in Bitcoin, we usually though that it grows continuously but never see the possibilities that the price will drop or even collapse. I'd see that he really has the courage to invest but he also needs to consider the idea of putting all eggs in one basket is full of risk.  
And tell him that, it is safe to spread his money into the different investment platforms that just put it all in Bitcoin.  

[BITCOIN4X]

(.....)
My only question to all, was I able to give my grandfather the right advice??

For me yes, but if I were you, you need your grandfather first to educate what Bitcoin is, not only for investment so he will understand what he is investing in. Because if it's just your will or you are the only one who understands it, it's useless.
So that he will also know what he is getting into it.

You're right, that's how it should be. One must know what bitcoin is before they decide to invest. It's hard to believe why they should invest when they have no idea what bitcoin is even if someone can convince them of its potential. This means they can't buy the cat in the sack before they can clearly see what's in the sack.

[michellee]

My question is, how old is your grandfather? Why don't you let your grandfather enjoy his last days? Why invest in old age? Instead of advising my grandfather to invest, I will try to give him a fulfilling life at the end of his life. We invest also to find a comfortable life in old age, so treat your grandfather well. Because when you have a lot of money, you can't take it with you when you die.

Grandfather will be about 70 years old. I love and care for my grandfather very much. Grandfather understandably wants to invest in Bitcoin. The value of 1 rupee today and 1 rupee in the future is very different. This is what we call inflation. Since Bitcoin is a volatile digital cryptocurrency currency. So my grandfather got interested in investing in Bitcoin. I fully explained to my grandfather that Bitcoin has both profit and loss.

It's good if you have explained bitcoin and also its advantages and disadvantages. You also explained the risks of investing in bitcoin so that your grandfather knows what to do. You just stay with him during his journey of investing in bitcoin and explain everything else if he wants to know more about bitcoin. And don't forget to keep advising your grandfather about only investing in bitcoin with the money he can afford so that he doesn't immediately use all of his wealth to invest in bitcoin.

[White pawn]

But people who are too old with 70 years of age will actually be better off if they are able to take care of themselves by maintaining their health without thinking about many things because everything must be left up to the next generation like you.

You don’t know what would be better off for a 70 year old. I think when you’re 70 years old, then you can have an opinion on what a 70 year old has to do and think about. Also, I don’t think everything should be left to the next generation as it’s never too late for anyone irregardless of their age to get onboard with bitcoin.
As a 70 year old, it’s still very possible to be healthy and still have investments

[Falconer]

My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin.

I know you've been advising your grandpa to invest in one of the best assets ever, but are you sure your grandpa can afford to take the loss if bitcoin doesn't bring him the returns it deserves after a few years?

You can't ask anyone to put all their wealth in bitcoin if they don't know what bitcoin is and what the risks are. It is also not advisable to do so even if you are sure he knows what the consequences will be. We all never know what will happen to bitcoin in the future, but if you believe it is profitable then you should suggest investing an amount you can afford to lose.

My only question to all, was I able to give my grandfather the right advice??

Yes, you can. But don't let your grandfather invest in bitcoin with all his wealth when he doesn't know what the risks are.