I gave investment advice to my grandfather.

[lizarder]

My thoughts as well. Felt the old man would be about enjoying what he has amassed to himself in course of his lifetime but, it seems his going to have his heart beating to the volatile nature of the bitcoin market. Perhaps the doctors needs to be kept on alert to nurse him back to health from HBP when it comes kicking.

Maybe his grandpa isn't that old as I like to start but again, it's a useful advice which I felt for someone that has acquired wealth to have already known. That his got to diversify other than having all his amassed wealth in a basket.

What is the use of wealth if it cannot be used or enjoyed throughout his life, regardless of the wealth obtained from investing in bitcoin or elsewhere, even this wealth will make heirs fight over which will ultimately break blood brotherhood, very tragic isn't it?

But whatever it is, I really appreciate the advice he tried to convey to his grandfather, because it will create several opportunities to diversify investment decisions, the most important thing is that access to investment can be known by those who are in control. When something happens, it will not make him lose access because there are people who know the investment process.

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[Popkon6]

@mr.corol Bitcoin is a coin suitable for investing. The mainstay of cryptocurrency is Bitcoin where very few people have experienced losses by investing. If someone's first investment in life is to invest in bitcoins like yours then there will be no chance of loss. But must invest for long term or trade with bitcoin updown. There is good Bitcoin future news that points to a Bitcoin halving around 2024 where Bitcoin is going to be at an all-time high. So investing in Bitcoin for long term is a perfect investment.

[Dr.Osh]

that is very good advice. too risky to invest all the assets he has into bitcoins without understanding the risks involved. I think, your grandfather is too optimistic about bitcoin, and that may be caused by several factors, such as the reference where he read or found information about bitcoin, or he got that information from crypto users who provide information about bitcoin, but only provide part of the information.
In any case, just suggest investing as necessary. even though the potential of bitcoin is truly enormous, and many people are very optimistic about it. however, keeping some definite assets for future use is also very important. But, I really appreciate your grandfather who is still updating about new investments, especially crypto.

[hyudien]

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??

You have given the right advice, that for someone who is old and he just needs to enjoy his old age, investing in Bitcoin as a whole would be risky. More ideal is for him to invest in the enjoyment of life such as medical benefits and dream places. Because if he invests everything in Bitcoin and when there are no heirs to manage it. But apart from that it all comes back to your grandfather's decision.

[Wiwo]

@mr.corol Bitcoin is a coin suitable for investing. The mainstay of cryptocurrency is Bitcoin where very few people have experienced losses by investing. If someone's first investment in life is to invest in bitcoins like yours then there will be no chance of loss. But must invest for long term or trade with bitcoin updown. There is good Bitcoin future news that points to a Bitcoin halving around 2024 where Bitcoin is going to be at an all-time high. So investing in Bitcoin for the long term is a perfect investment.

Bitcoin is certainly the best form of money and an investment and to benefits from bitcoin investment one need to build quality knowledge to understand the ups and downs of the BTC and also having the patience to wait for the long term, one can only lose or gain through the DCA, but if you keep holding your bitcoin if BTC values never decrease.

-bitcoin halving is no longer news, but a cycle that certainly happen any time bitcoin reaches that block sizes, and it is stated in the Bitcoin whitepaper, for all to see and when that will happen by calculating the current block size vs the halving block size.

[jaberwock]

maybe he experienced investing but to the extend of being a total investors that can risk or trust bitcoin that much , and the way i see it? he is an altcoin supporter more than bitcoin.
but giving this advise to his grandfa seems to be over thinking , he should let his old man learn the market first at least read here in forum and make research than just investing right away without complete knowledge , though this is safe to invest yet the time frame sometimes hinder people to make money.

I do agree that when you are going to make a substantial investment then it is better to let your investment speak for itself and you should be researching it well enough that you would know what you are putting your money into.

If you need to ask your grandchildren about investment advice, then you are not investing into something that you should, it would be a risky investment for sure. I would say only invest into things that you yourself personally can understand. I know that it is going to take a bit of a time for a grandfather to understand what crypto is all about, it is going to be hard to get down to that young age understanding, but if they can, that is when it would be valuable.

[Japinat]

maybe he experienced investing but to the extend of being a total investors that can risk or trust bitcoin that much , and the way i see it? he is an altcoin supporter more than bitcoin.
but giving this advise to his grandfa seems to be over thinking , he should let his old man learn the market first at least read here in forum and make research than just investing right away without complete knowledge , though this is safe to invest yet the time frame sometimes hinder people to make money.

I do agree that when you are going to make a substantial investment then it is better to let your investment speak for itself and you should be researching it well enough that you would know what you are putting your money into.

If you need to ask your grandchildren about investment advice, then you are not investing into something that you should, it would be a risky investment for sure. I would say only invest into things that you yourself personally can understand. I know that it is going to take a bit of a time for a grandfather to understand what crypto is all about, it is going to be hard to get down to that young age understanding, but if they can, that is when it would be valuable.

That's like gambling, how can you bet to a specific team and specific sport if you don't have that first-hand knowledge to know who got more chance in winning, I know that sometimes odds are tempting but that doesn't mean that they got more chances as there are also favorites by people and bookies. The same with investment, it is much better to know the field first before investing into it and I won't really advice that you will place your fate into somebody else's hand.

[Frankolala]

The awareness of bitcoin should be taught to everyone irrespective of their age, either the young or the old as long as they will give you a listening ear. I really appreciate your effort in teaching your grandfather about bitcoin,which he showed interest on investing.

You have done well to let him know that he shouldn't invest all his wealth in bitcoin due to its volatile nature. You should also let him know about how to keep his investment save and get a noncustodial wallet for him. I feel happy to see new investors in the cryptospace.

[freedomgo]

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??

You have given the right advice, that for someone who is old and he just needs to enjoy his old age, investing in Bitcoin as a whole would be risky. More ideal is for him to invest in the enjoyment of life such as medical benefits and dream places. Because if he invests everything in Bitcoin and when there are no heirs to manage it. But apart from that it all comes back to your grandfather's decision.

If he still pursue on his plan, I think you have done your part making him aware on the risks investing in bitcoin. So at least, you still have to be there for him guiding him knowing bitcoin investment is new for him. But tbh, I don’t see bitcoin investment is still appropriate for old ages as it would only cause them to panic and become stressful seeing their investments are not working in progress. Bitcoin has its high volatility, and anybody who is only used to see traditional investment will definitely struggle in making bitcoin investment works.

[mv1986]

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??

And you are sure that you are telling us a true story? I have no idea how much wealth your grandpa has and whether he is forced to invest because it is his only way out of some problem, I don't know. But an older person saying that he is going to put all his wealth into Bitcoin are the words of either someone who is in trouble because that wealth is by no means sufficient to cover future expenses or that person is not sane anymore for age related reasons or that person is this guy



and lied to you about being your grandpa, but in fact is not older than you.

[alik111]

I think your advice is perfect about the investment in Bitcoin. Because Bitcoin is highly volatile and it has profits and loses also. So investing all of your funds it's a good idea at all. Better you should do DCA ( Dollar Cost Avarge). That will be more profitable.