Advise to a friend

[Alpha Marine]

Ordinarily, I don't like asking questions like this because I feel they're personal questions that should be answered by myself alone but it has been on my mind for a very long time and I have not gotten a solution for it.

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account. Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL. Holding won't be an issue for him because he has the patience of an old man. He has left the savings in his account for over two years without touching it. Now imagine him transferring that energy to Bitcoin.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

[1715593700]

1715593700

[mocacinno]

There isn't a foolproof answer to this question... Personally, i have never tried to convince anybody to invest in anything. Not my parents, not my brother, not my friends...

If it goes wrong, they will always feel like you were responsible for their loss, and that's a burden i don't want... But that's just my personal opinion.

[Z-tight]

Do not advise anybody to buy BTC, many people buy BTC without actually knowing what it is because their friend or family told them to buy it to make X amount in returns. When you don't know what BTC is you'll struggle to use or even hold it, and you can easily be scammed.

If your friend is interested in BTC, and you know something about it, you can teach them how BTC is a second choice currency to fiat which is censorship resistance and permissionless, you should also tell them the advantages of using BTC, it is better to tell people what BTC is first, that's a currency, before you let them know that is is also an asset that can be invested into because its supply keeps reducing and the value keeps going up. If your friend understands all the basic things about BTC, they will decide for themselves.

[Aikidoka]

I would suggest telling him to buy but deep inside, it's not something that is guaranteed to happen, like you won't be sure 100% cause it is still risks even when we are talking about bitcoin. To be honest, If I was him I would buy since him having already money sitting for 2 years in his account? why he don't get a profit from money sitting there? he obviously should take the advantage of that and make them moves to bitcoin and HODL, that's just my opinion.

For your friend, simply inform him about it and let him make his own decision on whether or not to proceed, just don't force him so that you won't encounter any issues/troubles later on.

[Solosanz]

He start in a wrong path and I think the three coins he hold will not have a bright future, so he will blame himself for invest in these three coins. After that he will call any cryptocurrency including Bitcoin is scam, but it's his choice and you've done your part to teach him. Let him choose, you shouldn't force him to invest in Bitcoin, do you want your friendship will be ruined because your friend can't accept bear market when he already invest on Bitcoin?

[sokani]

I don't think it's wrong for you to advise him to buy bitcoin but I think it would be wrong of you to tell him the about of money he should commit in it. Let him decide if he wants to use 40% of his saving to buy or not. Your place is to introduce him to bitcoin, advise him to study the market and to always do due diligence which I want to believe you've done already.

[Zaguru12]

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

I don’t buy the idea of advising some who has already gone into Alticoins to come to bitcoin is way too risky because such is only looking at the profitability potential for investing in cryptocurrencies and when you advise such person they only see bitcoin as something that won’t dump like other coins which is yes but this kind of mentality is not advised even in bitcoin.

The major question you need to throw out to him is why is he into crypto in the first place if is to get away from fiat crises and start an investment in bitcoin then you tell him that bitcoin actually is one of the best assets for it but there periods in it too

[coinerer]

snip

Your friend is saving money in the bank because it is his personal desire and he is satisfied even if he gets less profit from it. But you cannot give him financial advice that if he invests in Bitcoin he will get us profit and he should invest 40% of his savings. Because if he loses his hard earned money somehow he will blame you and you will be responsible for that. So refrain from giving financial advice to anyone.  You can tell him about Bitcoin and of course you should also inform him well about the risks of Bitcoin investment.

[DeathAngel]

Tell him to buy bitcoin, explain to him about the block reward  every 4 years & what that means for the supply, how bitcoin is deflationary. Tell him how this compares to the $ which is to quote Michael Saylor, a block of ice melting via annual (theft tax) inflation.

It’s up to your friend what he does with his money but explain bitcoin as best as you can. I hope he buys, and last thing tell him not to shitcoin.

[Dr.Bitcoin_Strange]

Like you have said, you can speculate on price but not always be certain. There is a possibility that if you advise your friend to buy bitcoin now, it could turn out to be beneficial advice for him if prices spike, or he will be on the losing end if prices drop. You said your friend has two jobs that he is doing, which means he is steadily earning from them, and that's why he was able to allow his savings to sit in the bank for two years. If you advise him to buy Bitcoin now, it's not a bad idea, although he has had some experience with the altcoins he bought. First, I will advise you to make sure your friend is totally aware of Bitcoin and how volatile the price can be. Second, let him know that if he can't hold until the price goes up, he will not be making profits unless he is ready to sell at a loss. Thirdly, let him know that if he decides to invest, it is at his own risk and not yours to receive blame. If your friend is aware of all this, then there's no harm in trying. If he decides to invest, then don't forget that DCA is always a good strategy for accumulating bitcoin.

[Bananington]

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

You can give your friend the good points and benefits why it will be better for him to keep his savings in bitcoins, if not all his savings, some of it. Do not force the decision, but allow him see reasons. Explain to him the mistake he made before which is trusting altcoins more and that if it was bitcoins he made those investments, he would have been smiling this period that the price of bitcoin is doing well. If he is a smart guy, he will come around to invest in bitcoin, get the knowledge about Cryptocurrency for the future.

[Gallar]

If I'm not mistaken and haven't forgotten, I've read posts with almost the same topic as this more than twice. Maybe now many people have the same case.

Giving advice to your friends about bitcoin is indeed a very wise thing, especially if you give advice while teaching what bitcoin is and how it works, surely it will be more perfect. But the problem is, do you want the friend you gave the advice to follow your advice and buy bitcoin? the answer must be between participating and not participating.
Those who agree to accept advice about bitcoin need not be discussed and questioned again. But the problem is people who don't want to take your advice, but you still force them to continue investing in bitcoin.

My advice, if you have told your friends about what bitcoin is, the benefits of bitcoin, and the potential for bitcoin. But your friend still doesn't want to, it's better not to force it. Because if you force it, you are afraid that there will be risks that you will have to face in the future.
For example, what if your friend invests in bitcoin, and (for example) suffers a loss, (because of being deceived, or because the market goes bankrupt and the bitcoins are not returned), I'm sure you will be affected by your friends, because you are the one who told them about bitcoin .

So basically, don't ever force your opinion on other people, even if the opinion you have is indeed good.

[pixie85]

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045.

Haha, let me guess, he bought Terra Luna   Your friend should cut ties with that person who convinced him to buy scam coins.

He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out.

Don't work out? In what way? If holding is not an issue and he can hold for about 2 years, there's no way the price won't be higher than 30000.
Bitcoin is one of the best investments right now. It can't be stopped, only delayed. If you can forget about it for a few years you'll always come out on top.

I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

I thought he doesn't care about "tomorrow".

[tbct_mt2]

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account.

Banks are risky but others are risky too including Bitcoin. Especially if you don't know how to store your bitcoins safely and where to store it with full control on your bitcoins, no dependence on other parties.

Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL.

You are doing one of worst things by advising another person invest into something.

Holding won't be an issue for him because he has the patience of an old man.

Patience is a personal trait and usually it is not related directly to age.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout.

So now you will put yourself into a war with someone else, just to convince that man to do something. Giving financial advice is risky and are you ready to be responsible with your advice?

Even Bitcoin has risk and not completely safe.

[Husires]

If your friend does not know what to invest in, it is better not to invest, investing 40% of the savings account is not considered a small investment, and therefore if your friend does not know what he is trying to do, he will end up selling in the first panic, and then he will not think about investing again.

Let him start with money he does not need for the next five years and diversify investments in real estate, stocks and foreign currencies in addition to gold and bitcoin by 5%.

Always let him put the worst case scenario before the gains.

[Awaklara]

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

if he still has interest in investing in crypto. yes, you should advise him to buy and hold Bitcoins. but if she doesn't like it anymore, then you can't force her. but if only to share information when you meet him. I think discussing investment assets is not something serious when everyone really understands it.
Your friend is unlucky with his ignorance in investing. He will surely regret it. but hopefully he doesn't come out and reject Bitcoin.

[tbct_mt2]

If your friend does not know what to invest in, it is better not to invest, investing 40% of the savings account is not considered a small investment, and therefore if your friend does not know what he is trying to do, he will end up selling in the first panic, and then he will not think about investing again.

It is a big risk for that man and for the OP too.

The market is very volatile and that man might be panic anytime and exit with loss. Moreover, when people start in cryptocurrency market, they will probably make mistake with wallet backup, account information backup including 2 factor authentication backup and often store their cryptocurrency on exchanges. What if he lose 40% of his savings on a scam exchange?

Will he knock the OP door to blame something? I don't know but I don't want to take that risk on my shoulders.

[Zanab247]

Since you knew that BTC is a king among other cryptocurrencies, and you want your friend to grow well like you, why can't you tell him the truth that BTC will help him to improve if he can apply long holding strategy. You can Use the market chart to explain to him so that he will believe that you are giving him a right direction that will make him to earn well when the price of BTC increase higher. If you wait for him to come to you, maybe another people can still deceive him to invest in altcoins that will make him to feel that BTC and other cryptocurrencies are fake not knowing that he didn't invest in a potential coins.

[m2017]

~snip

If you are ready to take responsibility for asking him to invest in bitcoin and your conscience doesn't bother you if something goes wrong, then go ahead - advise him to buy. I understand that this is your friend and you want to do good to him, but sometimes in life it is difficult to distinguish good from evil and vice versa (never know what the outcome of any action will be). Personally, it would be extremely unpleasant for me to let a friend down and it would be difficult for me to take on the decision of his investment. Therefore, in this situation, I see the solution as follows: tell about all the opportunities and risks when investing in btc, but your friend, the decision must be made by himself. Best of all, after a few days of reflection, that reduce the impact of emotions.

Isn't it too much, 40%? BTC is still considered to be risky assets.

[MarjorieZimmermanGinger]

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

I would not suggest that people go too far to invest in the Crypto and Bitcoin space though, if they don't try to understand the conditions of price fluctuations and every suggestion we give, when they don't try to learn to know Bitcoin then one day we will be blamed whenever they get a loss. Not everyone learns quickly to realize that Bitcoin is much more basic than Altcoins, sometimes there are also people who find Altcoin prices easy to buy because they are cheap, even though the returns are very risky and very uncertain.

In your case what needs to be explained to a friend is that the power of Bitcoin and Altcoins is very different, explaining the journey of Bitcoin in recent years and comparing it with Altcoins will make him have a view and he can decide, but basically he is the one who will be responsible for the loss of the assets in have it, while you are an intermediary as a basis for him to choose a decision and it depends on how you explain bitcoin and altcoins.

[Minecache]

Instead of giving advice, why don't you give him more knowledge and time so that he understands bitcoin well and can decide for himself? I know you're well-intentioned to help him make money, but giving someone financial advice is something I wouldn't do even if it were someone close to me. Since I myself do not guarantee 100% that bitcoin will bring me profit, so I have nothing to prove to my friend that he will not lose his investment. If he really wants to invest, let him decide for himself.

[taufik123]

The first mistake lies in someone convincing your friend to get into altcoins and at the end he has to get a loss after holding on for a long time.
But if you are trying to convince him to get into Bitcoin, there is no doubt about it, bitcoin is the best.

If you are afraid that you will fail, then use management to buy gradually or do the DCA strategy, it will keep your funds safe and you can buy at a lower price.

Bitcoin is not a get-rich-quick scheme, it is a more promising long-term investment than altcoins or Fiat. If you buy at the current price, of course, it's cheap enough. The benchmark is the last ATH of 2021, and if you are targeting a new ATH of maybe $100k, that would be a pretty ideal target for the next few years.

You just need to reassure your friends who are quite traumatized by altcoin investments and switch to Bitcoin which is more secure.

[jrrsparkles]

First of all he made a huge mistake that he kept his savings in a bank account because over the two years the value dropped 20% as per the actual stats in practical world if it's USD or if it's other fiat the value maybe dropped higher.

Now about investing on Bitcoin, I suggest you to show the price chart of Bitcoin which itself is convincing enough to make anyone to invest for long term but if he is not used to investment on speculative assets then gold can be an alternative.

[aryana42]

Why do people like to give investment advice to others so much? Does it benefit you? If it were me, I would never give anyone advice because we don't know what they are thinking and what they want. I don't want to lose a friendship just for advice if their investment goes wrong. That was really a bad idea for me.

[bittraffic]

He once was introduced to a scam altcoin and to his limited knowledge the one who convinced him to invest in the altcoin is influential to him. Though he may have learned his lesson after the loss, he may not be interested anymore until something will force him to. But today his friendship with that influential guy must have turned sour.

You can only advise so far but its still his decision.

[initim]

You can introduce your friend but remember to educate him appropriately. We have different coins, so it is good you tell your friend the advantages and disadvantages and leave him to then decide on which to invest in.
I will also recommend portfolio diversification, he should not put all the eggs in one basket. Keeping money in banks is just like enriching banks because they will trade with your money and give little or no profit at the end of the day.

[Yatsan]

~snip

If you are ready to take responsibility for asking him to invest in bitcoin and your conscience doesn't bother you if something goes wrong, then go ahead - advise him to buy. I understand that this is your friend and you want to do good to him, but sometimes in life it is difficult to distinguish good from evil and vice versa (never know what the outcome of any action will be). Personally, it would be extremely unpleasant for me to let a friend down and it would be difficult for me to take on the decision of his investment. Therefore, in this situation, I see the solution as follows: tell about all the opportunities and risks when investing in btc, but your friend, the decision must be made by himself. Best of all, after a few days of reflection, that reduce the impact of emotions.

Isn't it too much, 40%? BTC is still considered to be risky assets.

Not all people are aware that they would be holding the burden if ever the investment they are encouraging their friends to engage into would turn into huge loss. They would invest because they know you and not because they know what they are doing so never be surprised if one day, they would blame you if ever things would go the other way than expected. Much better if you will just let them find the initiative to do so than to interfere and to be biased. Nothing is certain in this industry and risk will always be there so set aside the confidence. Indeed this technology is profitable but that is only if the investor knows how to manage the risk in any price action.

[andriarto]

He once was introduced to a scam altcoin and to his limited knowledge the one who convinced him to invest in the altcoin is influential to him. Though he may have learned his lesson after the loss, he may not be interested anymore until something will force him to. But today his friendship with that influential guy must have turned sour.

You can only advise so far but its still his decision.

that's where the danger is a lack of knowledge, thus creating a split friendship. therefore we who give advice and other people who are given advice must be smart. in the sense that you have to study thoroughly first, don't just believe in what your friends say, of course, what you imagine at first is happiness without any knowledge about risks, so that it ends badly

[Eternad]

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

Your friend is already exposed on the shitcoin poison. It's very hard or nearly impossible for him to convince on investing only on Bitcoin since he already tasted the bitter experience on altcoin investment. I have a friend like this that learned lesson the hard way. He completely avoid crypto even Bitcoin because categorized as same investment type.

The only way to convince this kind of person is to show him what you are doing by holding only Bitcoin and have a good result in terms of profitability. This is a very hard commitment to someone   that has very bad experience in crypto. You should avoid discussing crypto investment on this guy if you knew that his mind is not stable to commit Bitcoin investment only because he will surely purchase again altcoin once he feel the slow growth on his portfolio while other shitcoins is pump hard.

[HONDACD125]

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

First thing is that if he had invested in an altcoin and without any knowledge and research and experience entry into any token is always detrimental.Always think carefully and invest in the best and top tokens in the market.

As far as Bitcoin is concerned, Bitcoin is a very reliable and least risky cryptocurrency.Because Bitcoin has a huge role to play in all the ups and downs in the market.And all cryptocurrencies also depend on the price of Bitcoin.Bitcoin has a low profit rate compared to other cryptocurrencies, but the loss rate is also extremely low.As far as losses are concerned, the crypto currency market is a very risky market where the market can crash at any time and any bad news can affect the market badly.But bitcoin is a cryptocurrency that is very reliable and you can tell your friend to invest in bitcoin. Even if the price of Bitcoin decreases, he should invest more. The lower the price of buying Bitcoin, the higher the profit in the future.Because one who has lost in cryptocurrency , he does not trust any cryptocurrency.Now you can attract your friend to invest in Bitcoin.And your friend can also recover his loss by investing in Bitcoin

[mvdheuvel1983]

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

You shouldn't go ahead to advise him to invest in bitcoin. It is not your call. It wouldn't help.
How well do you know your friend?
There are tons of reliable resources out there that you can provide your friend with. Let him read it. Let him understand more about the market together with the risks involved in investing in bitcoin just like he did with his altcoin. From there your friend will come out well informed enough to know if he can handle and manage the risks involved.

[Mate2237]

Is this the latest trend of threads that existing in the forum? Because I am seeing this at all corners in the forum. Or is it the only way newbies to Full Members ranks can write about? Op before you advise him to buy bitcoin make sure you know the in and out of the business. Because if you fall your hands, you have to face the consequences of the introduction. Let him come to you then ask him to invest by himself. Before then tell him the cons and prons so that he  be well inform to the system and the blame game will not come to you.

[nimogsm]

This makes no sense. Another thing is if he himself came to you for advice, wait until this moment and discuss in advance that you will not bear any risks for him. The best thing will be in this situation when your friend himself will show interest and turn to you for advice and your help.

[DiMarxist]

Don't advance him to buy bitcoin, give him proper education for investment, impact him with the knowledge of Bitcoin, teach him how to invest, if himself is interested, and come to you to take advance, or want you to advance him, don't advance him to invest in bitcoin, tell him the merits and demerits or in and out about investment. If you don't tell him about the risk involved, just advance him to buy, if anything happens you will face the consequences, but if you tell him how the market is before he fall into it, if anything happens you will not be blamed. Let him understand well  about the market together with the risks involved in investing in bitcoin.

[rby]

Do not ask your friend to buy Bitcoin, what you should do is to explain everything about Bitcoin investment, starting from how much to invest in case of how much he earns. How not to invest what he is not able to lose, how to buy Bitcoin, about the bull run and bear markets. Tell him everything he needs to know and showing him how to buy. If he is interested to buy, he would want to approach you by himself to buy eventually. If he does not now and comes to ask you how to buy during the bull run, advise him to wait for the next cycle. By so doing you will not have any grudges in your conscience in case things goes wrong for him.

[Weawant]

He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.
So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

Some individuals needs help in pushing them to achieve some financial goals, if you love that fiend I won't advise you abandon him. Keep telling him about Bitcoin and how it's different from the other cryptocurrency that he bought until he understands.

Don't think you telling him Bitcoin is different will convince him because it would had been the same things those that advise him to buy those altcoins told him too. Show him some proofs, show him the chart history of Bitcoin and explained all the recover Bitcoin did after crashing.

Make the friend understand that investing in Bitcoin is a very long term project and since he already has patience and consistency, it would be of interest to him and he might come around. Don't give up on him but don't pressure him to invest either.

[Dzwaafu11]

I feel that you did not fully explain how investing in bitcoin works. I recommend that you elaborate on how hodling for a long time will enable him to quadruple his money. I don't want you to give him any advice since I know that if you do, you won't disclose the procedure's inherent risks. But you ought to keep trying to explain to him how Hodl will contribute to his future financial success. I think you care for your friend, which is why you came here to ask for advice rather than letting him leave his money in the account without using it.

I think the reason he is still unsure of what you want him to do with his savings is because of the significant losses he has suffered in the past on cryptocurrencies. Try to educate him that since these are about holding for a while, he can sell them whenever the price of bitcoin rises rather than an altcoin

[blockman]

I will just give him a tip but will never go to the point of convincing him to buy bitcoin. I mean that it's a good investment but it's up to you how you'll do your research. With his experience with the altcoins that he has bought, he'll surely have some doubts now about investing in the crypto market. But giving him the light explanation that bitcoin is like the safe haven of this market is going to give him the idea on why he should invest in bitcoin but then, I won't force people to come up into the idea of buying bitcoin without knowing it first.

[TimeTeller]

I will just give him a tip but will never go to the point of convincing him to buy bitcoin. I mean that it's a good investment but it's up to you how you'll do your research. With his experience with the altcoins that he has bought, he'll surely have some doubts now about investing in the crypto market. But giving him the light explanation that bitcoin is like the safe haven of this market is going to give him the idea on why he should invest in bitcoin but then, I won't force people to come up into the idea of buying bitcoin without knowing it first.

Yes, don't convince him to buy, just let him decide on his own.
Give him the necessary information about btc, what you have experienced so far.
There's no guarantee in this market even if you say btc is the strongest among these currencies.
If he will sell it below his buying price because he urgently needs the funds, then he will be in the negative.
It depends on how he will manage his funds, he can still lose even holding with btc.

[blockman]

I will just give him a tip but will never go to the point of convincing him to buy bitcoin. I mean that it's a good investment but it's up to you how you'll do your research. With his experience with the altcoins that he has bought, he'll surely have some doubts now about investing in the crypto market. But giving him the light explanation that bitcoin is like the safe haven of this market is going to give him the idea on why he should invest in bitcoin but then, I won't force people to come up into the idea of buying bitcoin without knowing it first.

Yes, don't convince him to buy, just let him decide on his own.
Give him the necessary information about btc, what you have experienced so far.
There's no guarantee in this market even if you say btc is the strongest among these currencies.
If he will sell it below his buying price because he urgently needs the funds, then he will be in the negative.
It depends on how he will manage his funds, he can still lose even holding with btc.

IMHO, this is the reason why people tend to think of how bad bitcoin is. Because of the wrong perception and suggestion of forcing and convincing them to buy and then the market didn't go along.
It's nice to have people that are sharing what bitcoin is and I think that's more than enough for them to have that knowledge shared unto them of how it was but then if it's about their money decision, it should be them alone that must decide whether to buy or not but you just did your duty of explaining and telling them the details of what's with bitcoin and how volatile it is.

[glendall]

my version of the answer. We can't  force investing in BTC actually, everyone has a choice, it's not wrong for us to give advice but there's no need to force it enough once we give an explanation of the good and bad after that we leave it to our friends the choice is in those who have the finances
remember that investing in btc is very prone to loss, so avoid this mistake in our future because our advice will make our life a burden

[landheer]

I think advising people to buy bitcoin is not a good thing and this is my personal opinion, but I think what is more important is that you provide an explanation about bitcoin so that he understands what the bitcoin system is like and the risks of investing in bitcoin.
so someday if he is interested in investing in btc, and suppose he experiences a loss investing in btc, then he will not blame you.

but I feel sorry for your friend who has the potential to lose investing in altcoins, so I think you can explain about btc to your friend so he can understand about btc, but you don't force him to invest in btc.

[vitya1982]

I think advising people to buy bitcoin is not a good thing and this is my personal opinion, but I think what is more important is that you provide an explanation about bitcoin so that he understands what the bitcoin system is like and the risks of investing in bitcoin.
so someday if he is interested in investing in btc, and suppose he experiences a loss investing in btc, then he will not blame you.

but I feel sorry for your friend who has the potential to lose investing in altcoins, so I think you can explain about btc to your friend so he can understand about btc, but you don't force him to invest in btc.

I agree, we can't force others to buy Bitcoin or to make any financial decisions at all. Sure, it's good to disguise financial stuff if you're both interested and maybe share some experience, but I think that's enough. If you think your friend makes a financial mistake just ask him if he is aware of the risks, that should be enough.

[crunck]

Ordinarily, I don't like asking questions like this because I feel they're personal questions that should be answered by myself alone but it has been on my mind for a very long time and I have not gotten a solution for it.

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account. Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL. Holding won't be an issue for him because he has the patience of an old man. He has left the savings in his account for over two years without touching it. Now imagine him transferring that energy to Bitcoin.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

If you can't be sure what will happen tomorrow, then it's best not to give him advice. If unfortunately, the market gets dumped again and he starts dumping in a panic, then he will blame you, and it's really your fault because you are the one who told him to buy bitcoins. Why not let him make the decision? No need to push him.

[Stella Mese]

In my opinion, the decision to buy BTC or not rests with your friend, and I think you only need to explain to your friend what bitcoin is, and you should also explain the risks of investing in bitcoin. because investing in btc still has risks.

and i think if for example your friend wants to invest in btc it's up to him to want 40% of his savings or not. because it's his right.

[borovichok]

In my opinion, the decision to buy BTC or not rests with your friend, and I think you only need to explain to your friend what bitcoin is, and you should also explain the risks of investing in bitcoin. because investing in btc still has risks.

and i think if for example your friend wants to invest in btc it's up to him to want 40% of his savings or not. because it's his right.

What I do is wait for the bear market to arrive, then I gather additional bitcoin to my reach and wait for the bull to show up, at which point I will trigger my sell option. This is a straightforward method that will always result in profits for a trader. Although my friend has the right to decline my advice when trading Bitcoin, if he were clever enough, he wouldn't dare and would instead adopt my trading method to boost his account and abilities to expand the market. I suggested to my friend to buy bitcoin during the bear market since I'm not a rash trader who seeks to make a quick buck; there are losses and gains in the market. 

[balotelli]

As you said he had a lot of money and only used $500 to buy altcoins, then consider that the "Start". Bitcoin is still very good choice, so you would advise him to buy some more BTC. The strategy is quite clear.
Good Luck.

[LogitechMouse]

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

In another thread that I saw, and shared my opinion, he bought Bitcoin, and I think it's a good thing that he started with Bitcoin instead of other coins or some shitcoins out there.

In this one, he started investing into some shitcoins out there which you said is worthless now. Now to answer your question, I guess it would be better if you will help him out, let him buy Bitcoin instead of some shitcoins out there. TBH, I'm not encouraging people to buy Bitcoin unless they aren't ready with the risk that they might face when investing into it, but in this case, I guess your friend knows it already. I suggest that you should guide him, and let him buy Bitcoin... or not. I mean letting a person invest into something that they don't know personally always lead to trouble. At least teach him first I guess then if you feel that he knows the basics already, then let him buy Bitcoin all by himself. Don't recommend anything aside from Bitcoin.

Many are saying here that you should not let your friend buy Bitcoin etc. For me, there's nothing wrong with it as long as your friend is knowledgeable enough to know the things that should be learn. Educate him first, let him do some research, guide him if needed, and after that, let him decide whether he wants to invest still into Bitcoin or not.

[Mr. Magkaisa]

    -   You know it's better not to dictate to your friend to buy bitcoin, because it's still good that the decision that we want to buy bitcoin comes from ourselves.

Because if you insist that he buy bitcoin without really fully understanding it will come out in the end when there is a bad result in the end about bitcoin he can blame you and say that if you didn't force me it wouldn't have happened will happen to me, words like this will even destroy your relationship as a friend. Did you get it?

[Merit.s]

You should teach him the basic concept of bitcoin first,after that if he is  eager to invest,let him show the seriousness by coming to meet you. If he comes,it shows that he has made up his mind to accept the risk in bitcoin investment. Teach him how to get a noncustodial wallet which he will store in coins in,don't let him leave his investment in an exchange. Introduce him to this forum,so that he can learn by himself about his investment. As you said that he has saved in traditional bank for two years,I think he will love to hold for long and wouldn't regret buying bitcoin. Altcoin is discouraging people who take altcoins to be bitcoin because of lack of knowledge on bitcoin, from the cryptospace.

[fuguebtc]

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

Buying bitcoin is not too difficult, but to make a profit, we need to hold it for a long time and to be able to hold it for a long time, we need to have complete knowledge of bitcoin.
You can force your friend to buy bitcoins, but if he still doesn't really understand bitcoin, there is no guarantee that he won't dump bitcoins when the market gets volatile. Instead, give him the knowledge he needs and let him decide for himself.

[Alpha Marine]

There isn't a foolproof answer to this question... Personally, i have never tried to convince anybody to invest in anything. Not my parents, not my brother, not my friends...

If it goes wrong, they will always feel like you were responsible for their loss, and that's a burden i don't want... But that's just my personal opinion.

I've read through all the replies and although there were different responses, I think I have gotten the best answer to my question because most members gave similar answers.
I was not trying to convince my friend, I just educated him a bit on the difference between Bitcoin and altcoins. I don't convince people to invest in anything at all, not even Bitcoin. 
From the replies, I think I would just help him understand Bitcoin better and leave the rest for him. If he wants to buy then fine, if he doesn't, still fine.

[DanWalker]

... 
From the replies, I think I would just help him understand Bitcoin better and leave the rest for him. If he wants to buy then fine, if he doesn't, still fine.

It was the right decision, and I support you in doing it. Giving investment advice to someone is a bad idea, but it would be great if we could provide all the knowledge about bitcoin for them to understand and make their own decisions.

My brother and a close friend are also asking me if I should invest in bitcoin or not. Because they see that I have a stable economy after investing in bitcoin for a while. But I answered bluntly that they shouldn't invest because they know nothing about it. If they want to invest, they need to have knowledge first.

[Rockstarguy]

He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

The truth is that you no matter how much you know your friend you can't really know the level of patience he has, you can't predict how he will feels when the market falls. If your friend decides to invest in bitcoin with all his savings and bitcoin price falls I'm not totally sure if he is strong enough not to show any sign of panic. 

You have done well by introducing him to bitcoin,  but it will be nice for him as a beginner to invest with the amount he can afford to lose,  as he gets more familiar with the nature of the market he can decide to take much risk as he can to invest in bitcoin.  But him as a beginner I don't take the idea to rush with a huge amount, let him start with amount he can afford to lose, let this build his confidence, and give him more assurance how reliable bitcoin is to invest than other coins.

[bbigtart]

I don't think you should advise your friend to buy BTC or any other crypto asset without him fully understanding what it is and how to use it. Before your friend decides to buy BTC or any other crypto asset, it is very important that he learn about blockchain technology, how to buy, sell and store crypto assets, and the risks and rewards associated with this investment.

We recommend that before suggesting buying bitcoin you should tell your friends about BTC first, because it is important to explain clearly what BTC is and how it works. You should also warn your friends about the risks associated with investing in crypto assets and tell your friends to do their own research before buying any crypto assets including bitcoins. That way you don't have to feel like a cheater or anything else that makes him not trust you anymore.

[lionheart78]

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.

The problem is you are trying to be some kind of a hero that would like to save your friend when he really doesn't need to.  I am sure that your friend is now knowledgeable enough to know that investing in altcoin is risky and will cost  him his money.  He has a first hand experience on this case while you are probably has no experience at all.

I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

You have already done your job of informing your friend about Bitcoin, whether he wanted to invest or not is up to him.  You don't need to push him into an investment that he think he must not.  Let him decide on Bitcoin investment for himself to save you from possible future problems.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

Let him decide for himself to save you from any responsibility for your friend's investment.

[bitzizzix]

If the OP is only giving advice to buy instead, I think you are wrong. And in crypto especially bitcoin, you can't just suggest buying it. What else do you suggest to buy in large quantities, and what you have to do is provide good understanding and knowledge first, especially about the risks that will be faced and you have to give an overview until he really understands and let him decide.
bitcoin or any other crypto is not a get-rich-quick investment scheme even if your friend has a lot of money, you still suggest to buy with money he can afford to lose or buy it gradually like DCA, and also need to have a lot of patience to do especially when the market is down.

[Asuspawer09]

Ordinarily, I don't like asking questions like this because I feel they're personal questions that should be answered by myself alone but it has been on my mind for a very long time and I have not gotten a solution for it.

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account. Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL. Holding won't be an issue for him because he has the patience of an old man. He has left the savings in his account for over two years without touching it. Now imagine him transferring that energy to Bitcoin.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

It would just depend on him if he wants to buy Bitcoin or Not you can't really push it to buy Bitcoin if he doesn't want to buy Bitcoin, it's understandable that he has a bad experience with cryptocurrency and money is not easy to earn, so he can do what he wants on his money.

Dont get me wrong but you don't really have the obligation to push him to buy Bitcoin, all you need to do is just to teach him what is bitcoin and why he should invest in, it, and then he can decide after that if he is going to buy bitcoin if he doesn't have time or doesn't want to learn Bitcoin by himself he should not buy Bitcoin because its still a risk investment even though we all believe on bitcoin.

[visionE2]

If you wisely give your friend enough knowledge and time to understand something, like Bitcoin, it will be better than just giving advice or personal opinion. you should try to provide accurate and up-to-date information about the topics discussed, including about Bitcoin. Your friend should fully understand that investing is a very personal decision and should be based on a solid understanding of the bitcoins being invested. Then I think you can provide objective information and explanation about Bitcoin and how it can impact investment. although the final decision to invest or not remains the right of your friend.

So, if your friend wants to invest in Bitcoin, make sure he/she has adequate knowledge about the asset, including the risks and potential rewards. You can help him by providing clear information, introducing him to trusted trading platforms, and guiding him in making the right decision according to the situation. Always remember him that investment decisions are his own responsibility.

[Easteregg69]

If you wisely give your friend enough knowledge and time to understand something, like Bitcoin, it will be better than just giving advice or personal opinion. you should try to provide accurate and up-to-date information about the topics discussed, including about Bitcoin. Your friend should fully understand that investing is a very personal decision and should be based on a solid understanding of the bitcoins being invested. Then I think you can provide objective information and explanation about Bitcoin and how it can impact investment. although the final decision to invest or not remains the right of your friend.

So, if your friend wants to invest in Bitcoin, make sure he/she has adequate knowledge about the asset, including the risks and potential rewards. You can help him by providing clear information, introducing him to trusted trading platforms, and guiding him in making the right decision according to the situation. Always remember him that investment decisions are his own responsibility.

Stick with science is top notch when it comes to financial advise.

Don't sell at a bad time is what he is trying to tell you.

[Z-tight]

From the replies, I think I would just help him understand Bitcoin better and leave the rest for him. If he wants to buy then fine, if he doesn't, still fine.

That is a good decision you have taken, if they invest in BTC of their own choice and understanding, there is a better chance they would not make a blooper and lose it, and you also would not be worried about losing your friendship with them if they are unsatisfied with the short term result of their investment. If you want your friend to even understand BTC much better, advise them to join the bitcointalk forum, this is where they will get the best information they need.

[MoonOfLife]

There isn't a foolproof answer to this question... Personally, i have never tried to convince anybody to invest in anything. Not my parents, not my brother, not my friends...

If it goes wrong, they will always feel like you were responsible for their loss, and that's a burden i don't want... But that's just my personal opinion.

I've read through all the replies and although there were different responses, I think I have gotten the best answer to my question because most members gave similar answers.
I was not trying to convince my friend, I just educated him a bit on the difference between Bitcoin and altcoins. I don't convince people to invest in anything at all, not even Bitcoin. 
From the replies, I think I would just help him understand Bitcoin better and leave the rest for him. If he wants to buy then fine, if he doesn't, still fine.

Good for you and your friend, you made the right decision. Let your friend decide for himself because it's his money, so it's better for him to know what to do with his money. And you will not bear any responsibility if his investment unfortunately loses. Try to give him all the knowledge about bitcoin.

[xSkylarx]

Don't convince him, just tell him and then let him do research on it. I think it has no point in convincing him. I mean, for sure, if you just introduce bitcoin to him, he will get curious about it. Also, just to be safe on your side, don't ever convince anyone because for sure, there are people mocking you that they lost money because of you, and for sure, you are uncomfortable with that. If I were you, I would just introduce him to bitcoin and tell him about your personal experience, but don't try to convince him.

[Renampun]

...

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

what you do is a form of caring for your friend and who is the loser in that, of course he is, because he ignores you and prefers to buy altcoins instead of bitcoin.
but too much concern can make you an annoying person so you have to stop trying to be a hero for him, and let him buy Bitcoin really with desire in his heart. not everyone can survive in the crypto investment and not everyone will be lucky to choose Bitcoin as their investment.

[Litzki1990]

According to your comment, the friend has worked hard and deposited money in a savings account. The main purpose of saving his money is to get a good support through money in the future. But in the current market context, you suggest him to invest 40% of his money, it can definitely be a good decision. Share various investment information with him before advising him on the matter so that he does not blame you if the assets are at risk later.

It will be more convenient for him to invest in bitcoins than ALT coins. Hope you advise him to invest in bitcoin as his savings money because investing in ALT coins may be too risky for his money.

[cydrix]

Go ahead and give him the recommendation to acquire bitcoin if you are willing to accept responsibility for it and your conscience won't bother you if something goes wrong. I see that this is your friend, and you want to be kind to him, but sometimes it's hard to tell what's good and what's bad in life—you never know how something will turn out. I know that I would hate to disappoint a buddy, and I would find it challenging to assume responsibility for his investing choice. As a result, I believe the following to be the best course of action in this case: inform your friend of all the opportunities and hazards associated with investing in bitcoin, but let him make his own decision. Best of all, that lessens the impact of emotions after a few days of reflection.

[justdimin]

I've read through all the replies and although there were different responses, I think I have gotten the best answer to my question because most members gave similar answers.
I was not trying to convince my friend, I just educated him a bit on the difference between Bitcoin and altcoins. I don't convince people to invest in anything at all, not even Bitcoin. 
From the replies, I think I would just help him understand Bitcoin better and leave the rest for him. If he wants to buy then fine, if he doesn't, still fine.

I would also keep reminding that the best way to learn more about bitcoin and the lingo would be checking binance academy. You should check that out too, not for yourself because if you have been here long enough then you know them all already, but you should check it for your future, to tell people. Knowing something and teaching it are different skills, I know how to write very well for example, I am very good at it in fact, but when it comes to teaching it to others? I would be fish out of water.

So if you check binance academy yourself as well, then you will know how to teach it to other people and if your friend reads it then they will learn a lot better from there than what you can tell them personally.

[blckhawk]

40% is a lot of money to invest in something that's volatile, you better keep that advice to your self because the amount that you are recommending isn't really a good percentage, I think the best course of action would probably be to make your friend aware of bitcoin, don't force them into getting in because when they're in and the prices starts plummeting and your friend will likely panic, you will be the first one to take the blame. Ease your friend into investing, give them other options because you sound like you want to control the choices of your friend.

[Jody.Drummer]

The problem is that when you really try to convince your friend, then in the biggest case you will be considered responsible for this because it is as if your friend was taken by you.
I think it's possible to suggest, but the risk is that you have to be prepared with a few questions that corner you as if you brought your friend to bitcoin. on the other hand it would be better if indeed he could consciously move himself because of course this would be better.
Your friend, if you are really serious about crypto, then I really don't think you will look at bitcoin one-sidedly, so a few words will be enough to awaken him as long as he studies this well.

[wahyuagung26]

That is a good decision you have taken, if they invest in BTC of their own choice and understanding, there is a better chance they would not make a blooper and lose it, and you also would not be worried about losing your friendship with them if they are unsatisfied with the short term result of their investment. If you want your friend to even understand BTC much better, advise them to join the bitcointalk forum, this is where they will get the best information they need.

Investing in Bitcoin is more appropriate in the long term, although there are also those who do it in the short term, and in fact they are not called investors, they just want to double up, but this is not correct, so far most investors are more effective in using the long term. it's good when Op's friends join the forum to get at least a little stock of knowledge considering the forum is very broad to gain knowledge.

[SOKO-DEKE]

According to my knowledge, Bitcoin is a fantastic investment. However, I have little faith that anyone who invested in it will one day be appreciative. All I can say is that it might take some time if you truly want to profit from your investment in Bitcoin.If your friend is truly willing to invest in Bitcoin for the long run, persuading him may be of tremendous use to him in the future.

It will be better to convince your friend to learn about Bitcoin first, so it can understand how things workout about Bitcoin, especially the term of risk it involves.it will be good for friend to convince itself through his Bitcoin knowledge than you convincing him.after you are able to convince your friend Bitcoin may do well as you think but the problem that will be there can he provide strong security to his Bitcoin investment?so best is to teach him about Bitcoin, so it can convince himself.

[Ale88]

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

I would absolutely go with the second option. Talking to a friend about some investment opportunity is one thing, actually convincing him into buying something is a totally different thing. And if for any reason he changes his mind and he needs the money and he's at loss, well, guess who's going to blame. I told some of my friends about bitcoin years ago, mainly because I found it very interesting and I thought it would be to share it with them but I never told them to follow me.

[Fivestar4everMVP]

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

I can perfectly understand how you feel, simply because I've been in a similar situation before, long time ago around 2017 or so, when I was still pretty new to crypto, I still had some guys who looked up to me for advice on what to invest in, and would pretty much invest in which ever coin I told them to invest in..

Nowadays, the number have more than trippled, but I don't do that shit anymore, I know better now from experience..
I don't advice no body on what or which coin to invest in, not bitcoin, not any altcoin, you are solely responsible for your decision, and if what ever you decided to invest in doesn't go well as you envisioned, it's not a burden on me to feel remorseful for you, and you are solely responsible for your loss, not me.

[CageMabok]

Good for you and your friend, you made the right decision. Let your friend decide for himself because it's his money, so it's better for him to know what to do with his money. And you will not bear any responsibility if his investment unfortunately loses. Try to give him all the knowledge about bitcoin.

Giving him knowledge about Bitcoin is also the same as directing him to a better place even though the final decision is in the hands of his friend. And since no one is held accountable when a friend loses on an investment, this is where every piece of good advice is needed before making a hasty decision. Because a wise enough decision will provide a few steps that might be better for people who are trying to invest in their life.

[milewilda]

Good for you and your friend, you made the right decision. Let your friend decide for himself because it's his money, so it's better for him to know what to do with his money. And you will not bear any responsibility if his investment unfortunately loses. Try to give him all the knowledge about bitcoin.

Giving him knowledge about Bitcoin is also the same as directing him to a better place even though the final decision is in the hands of his friend. And since no one is held accountable when a friend loses on an investment, this is where every piece of good advice is needed before making a hasty decision. Because a wise enough decision will provide a few steps that might be better for people who are trying to invest in their life.

Just answer if ever they would really be having some questions or something that they would really be liking to know.As a friend, then this is where you should really be minding on and be sure of that you shouldnt really make out some assurances because this is where people do make out some mistakes and make up some argumentation or quarrels on the time that the market would be fuck*ing up your investment on which you would be the ones who would really be getting blamed and this is something that we dont really like to happen. This is why we should really be that careful when it comes to this manner.
Give them and make them know about the pros and con's of this market and dont solely focus on the positive.

[Rigon]

Ordinarily, I don't like asking questions like this because I feel they're personal questions that should be answered by myself alone but it has been on my mind for a very long time and I have not gotten a solution for it.

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account. Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL. Holding won't be an issue for him because he has the patience of an old man. He has left the savings in his account for over two years without touching it. Now imagine him transferring that energy to Bitcoin.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

Here if your friend shows interest in investing on his own then you can suggest him to invest. You should never force him to advise you to invest. It turns out that he has a lot of wealth but you advised him to invest and he did as you said, if later on that investment loses, your friend will blame you for the rest of his life. So you do not make such mistakes and explain to him and prepare him to invest only if he expresses interest to invest on his own. He probably doesn't know much about cryptocurrencies. Because of which he invested in worthless altcoins according to others.

[passwordnow]

Giving him knowledge about Bitcoin is also the same as directing him to a better place even though the final decision is in the hands of his friend. And since no one is held accountable when a friend loses on an investment, this is where every piece of good advice is needed before making a hasty decision. Because a wise enough decision will provide a few steps that might be better for people who are trying to invest in their life.

Only his friend alone can be blamed for the misfortune and the result of his decision. I've got those types of friends before that they've asked me what is bitcoin, stuff about it, and if it's a good investment and I'd told them everything and with a yes. But then later, it seems that they don't believe me and went to invest in altcoins, they just revealed that to me when they lost almost all of their capital to a shitcoin because they thought that I was wrong and they better. Remember that these people are just new to the market, they think that they're better than with those experiences and that's why they gather info and decide to follow their own decisions and not the good advises.

[Fatunad]

Giving him knowledge about Bitcoin is also the same as directing him to a better place even though the final decision is in the hands of his friend. And since no one is held accountable when a friend loses on an investment, this is where every piece of good advice is needed before making a hasty decision. Because a wise enough decision will provide a few steps that might be better for people who are trying to invest in their life.

Only his friend alone can be blamed for the misfortune and the result of his decision. I've got those types of friends before that they've asked me what is bitcoin, stuff about it, and if it's a good investment and I'd told them everything and with a yes. But then later, it seems that they don't believe me and went to invest in altcoins, they just revealed that to me when they lost almost all of their capital to a shitcoin because they thought that I was wrong and they better. Remember that these people are just new to the market, they think that they're better than with those experiences and that's why they gather info and decide to follow their own decisions and not the good advises.

This is the reason on why i dont like on recommending or advising something when it comes to things not only on Bitcoin but also on other stuffs as well as i dont like on getting blamed when things goes shit and wrong.
Just simply tell them about that they should invest on the amount that they could afford to lose and thats all, you should really be trying out to avoid on things because there are people who are really just that good
when they need something from you but if there's none and having no use then they would be starting on having that u-turn against you which do really sucks.

[Ultegra134]

There isn't a foolproof answer to this question... Personally, i have never tried to convince anybody to invest in anything. Not my parents, not my brother, not my friends...

If it goes wrong, they will always feel like you were responsible for their loss, and that's a burden i don't want... But that's just my personal opinion.

I've read through all the replies and although there were different responses, I think I have gotten the best answer to my question because most members gave similar answers.
I was not trying to convince my friend, I just educated him a bit on the difference between Bitcoin and altcoins. I don't convince people to invest in anything at all, not even Bitcoin. 
From the replies, I think I would just help him understand Bitcoin better and leave the rest for him. If he wants to buy then fine, if he doesn't, still fine.

You made the correct decision; pressuring him to purchase Bitcoin even with a small percentage of his life savings could have ended awfully badly. You'd be the one to blame in case anything happened. Your friend could freak out and sell at a lower price, and you'll always have on your mind that you introduced him and is likely to blame you for his misfortune. I tend to avoid cryptocurrency discussions with any friends or acquaintances for this exact reason, because the discussion always leads to financial and investment advice I cannot provide. I wish I had a secret formula to turn rich, but I don't.

[lienfaye]

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

As you've said, your friend already had an experience investing in altcoins and unfortunately the two alts didn't go well. What's his reaction after knowing the result? Did he blame the one who convinced him to invest? If no, then I will help him to invest if he is interested.

Well, for me, since he already experienced investing in crypto before and likely aware of the risk especially if you happen to choose a wrong coins, then I will encourage him to why not choose Bitcoin this time. It is risky as well but compared to investing in alts, we know Bitcoin is way better and ideal for long term hodling. The good thing about this is, he is not a newbie that is clueless about crypto investment. Educate him further then let him decide on his own.

[loopes]

I've read through all the replies and although there were different responses, I think I have gotten the best answer to my question because most members gave similar answers.
I was not trying to convince my friend, I just educated him a bit on the difference between Bitcoin and altcoins. I don't convince people to invest in anything at all, not even Bitcoin.  
From the replies, I think I would just help him understand Bitcoin better and leave the rest for him. If he wants to buy then fine, if he doesn't, still fine.

You made the correct decision; pressuring him to purchase Bitcoin even with a small percentage of his life savings could have ended awfully badly. You'd be the one to blame in case anything happened. -snip-

I agree with you, convincing or even forcing your friend to invest some of his money in bitcoin is not a good idea. But educating your friend is a tricky enough to do. i mean you should be a neutral guider while explain how bitcoin works and do not to conceal the deficiency aspects such as the high volatility of bitcoin price, and etc.

[nakamura12]

Well, if you don't want to sound like a fraud if it didn't go as planned or not what you both expected that will happen once your friend invest in Bitcoin. Let's say that you have already taught your friend about Cryptocurrency and such. When your friend decided to buy crypto or you made your decide to invest in Crypto then you should tell your friend that even holding Bitcoin may result in losing some money if the price decrease. In other words, you are telling him that he should be willing to take the risk if your friend wants to invest. It is the same as explaining the advantages and disadvantages of Cryptocurrency.

[Party24*7]

If you want to convince him to let him believe in bitcoin, then show him proof that you have made a profit on bitcoin. The proof is the only thing bitcoin skeptics need, they don't require you to explain at length when you have not yet made a return on your investment. Your friend has a lot of money, and if you are poorer than him, there is no reason for him to listen to you. Like me, I would recommend bitcoin to my boss, but he is richer than me, and I can't teach him to get rich. That is ridiculous.

[jeraldskie11]

When your friend decided to buy crypto or you made your decide to invest in Crypto then you should tell your friend that even holding Bitcoin may result in losing some money if the price decrease..

You must provide complete information. You should have stated that if he ever sell, he will only lose, but if not, he will not lose even if the price of the bitcoin you purchased falls below your purchase price. As long as you retain Bitcoin, you will undoubtedly profit when the time comes, as long as you do not sell if the price is lower than your purchase price.
So, at the very least, he will not be discouraged about investing in cryptocurrencies. His thinking will be favorable about it, and he will not blame you because you told the truth.

[goldkingcoiner]

Ordinarily, I don't like asking questions like this because I feel they're personal questions that should be answered by myself alone but it has been on my mind for a very long time and I have not gotten a solution for it.

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account. Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL. Holding won't be an issue for him because he has the patience of an old man. He has left the savings in his account for over two years without touching it. Now imagine him transferring that energy to Bitcoin.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

I think that your friend will not be trusting of Bitcoin at this point. I doubt he will change his mind after losing his hard earned money. His experience with the shitcoins has probably left him very bitter towards any kind of cryptocurrency.

This is why Bitcoiners hate altcoins. Not only do they give cryptocurrency a bad image, they also ruin the Bitcoin experience for newbies before they have even had the chance of buying some BTC.

I think that if you try to push him, he will only push back harder. If you want to convince him then you should lead by example. Show him your profits and share your success stories with BTC.

[passwordnow]

Only his friend alone can be blamed for the misfortune and the result of his decision. I've got those types of friends before that they've asked me what is bitcoin, stuff about it, and if it's a good investment and I'd told them everything and with a yes. But then later, it seems that they don't believe me and went to invest in altcoins, they just revealed that to me when they lost almost all of their capital to a shitcoin because they thought that I was wrong and they better. Remember that these people are just new to the market, they think that they're better than with those experiences and that's why they gather info and decide to follow their own decisions and not the good advises.

This is the reason on why i dont like on recommending or advising something when it comes to things not only on Bitcoin but also on other stuffs as well as i dont like on getting blamed when things goes shit and wrong.
Just simply tell them about that they should invest on the amount that they could afford to lose and thats all, you should really be trying out to avoid on things because there are people who are really just that good
when they need something from you but if there's none and having no use then they would be starting on having that u-turn against you which do really sucks.

There are also people that don't take advice even if they're listening to us. The reason for that is because they think that know more and better than the person who's giving them advice about the market. No doubt that there are people that are only for the need and will approach the people they know for it. But then, we know that everything happens for a reason and when a friend is like that, fate is just trying to help us avoid these type of people.

[serjent05]

There are also people that don't take advice even if they're listening to us. The reason for that is because they think that know more and better than the person who's giving them advice about the market. No doubt that there are people that are only for the need and will approach the people they know for it. But then, we know that everything happens for a reason and when a friend is like that, fate is just trying to help us avoid these type of people.

I think that is not a reason to convince them to engage and invest in Bitcoin instead it is more of a reason to refrain ourselves from convincing them.  As you stated they think they are more knowledgeable than the person who introduced Bitcoin, advising and convincing them to invest in Bitcoin is more futile because if something wrong in the future happens with their investment, they will be blaming us even forcing us to take responsibility of their losses.  So it would be better to just let people decide for themselves whether they will invest in Bitcoin or not.  After all, it is their gain and loss and is not in any way profitable for us if they engage in Bitcoin investment. 

I think that if you try to push him, he will only push back harder. If you want to convince him then you should lead by example. Show him your profits and share your success stories with BTC.

Worst is they will put the responsibility on us if the investment goes southward and if it is a success they will keep the profit not giving us a single cent. 

[passwordnow]

There are also people that don't take advice even if they're listening to us. The reason for that is because they think that know more and better than the person who's giving them advice about the market. No doubt that there are people that are only for the need and will approach the people they know for it. But then, we know that everything happens for a reason and when a friend is like that, fate is just trying to help us avoid these type of people.

I think that is not a reason to convince them to engage and invest in Bitcoin instead it is more of a reason to refrain ourselves from convincing them.  As you stated they think they are more knowledgeable than the person who introduced Bitcoin, advising and convincing them to invest in Bitcoin is more futile because if something wrong in the future happens with their investment, they will be blaming us even forcing us to take responsibility of their losses.  So it would be better to just let people decide for themselves whether they will invest in Bitcoin or not.  After all, it is their gain and loss and is not in any way profitable for us if they engage in Bitcoin investment. 

Yes, and I don't intend to convince anyone to invest in Bitcoin. I'm done with that several years ago and it was a disappointing moment for me to get rejected when I tried to and good thing those people I talked to didn't do it because right after, the correction and bear market came. And for some that did oblige, yes, I was blamed for the sinking of the value of their portfolios. We're just done with that part, we're with them sharing thoughts and ideas but not anymore, and no need to convince them.

[Iranus]

...
 If you want to convince him then you should lead by example. Show him your profits and share your success stories with BTC.

This is the best way of persuasion, and we don't need to explain much to them. I have also used this way with my loved ones, I don't want to waste time explaining their doubtful questions one by one, and I show them the results I got from my investment. Even though they haven't gotten into bitcoin yet, at least they stopped doubting me and started listening to what I had to say. I don't advise them to invest, but I tell them it's an opportunity, and it's up to them whether they take it or not. I won't get any benefit from them, so I don't want any responsibility to them, what I want is just to give them a chance, and the choice is theirs.

[rodskee]

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

even what you are doing in action , still it is His decision to made up mate.
the best advise to give is "Let Him realize and Learn" so there is nothing or someone to blame when there is a a different side moves from His money.
some of my friends ask me the same question but what i did? sent them some links and videos for them to understand what is this market all about.

If you want to convince him to let him believe in bitcoin, then show him proof that you have made a profit on bitcoin. The proof is the only thing bitcoin skeptics need, they don't require you to explain at length when you have not yet made a return on your investment. Your friend has a lot of money, and if you are poorer than him, there is no reason for him to listen to you. Like me, I would recommend bitcoin to my boss, but he is richer than me, and I can't teach him to get rich. That is ridiculous.

there is nothing to convince mate , because this is their money and it is for them to win or lose.

Bitcoin is safe indeed but it is for long term mate and not for ASAP earning .

[S A KHAIR]

Bitcoin is safe indeed but it is for long term mate and not for ASAP earning .

Bitcoin is not safe, it is risky and that's why you and I don't want to convince others. Because no one wants to be blamed or held accountable. I agree with all the comments that it is not advisable to convince someone because it is in their interest, if they refuse, let them choose.

[KiaKia]

The crypto price madness is almost over in the late of 2021, that's not a good time to start buying any coin because the Bear market is already around the corner.

Even Bitcoin is not a safe investment for someone who doesn't know anything about crypto, you are in on some trouble if you are the one confusing people to invest in crypto.

They don't have the desire, they only want to make money, but off something the know nothing about, this is why I believe that you will be the one to blame if anything goes wrong instead of right.

Let them be the one pressuring you to give them some guidance, make sure they have the desire to learn about crypto, and then you can make things more for them by teaching them.

[bxipp]

Bitcoin is safe indeed but it is for long term mate and not for ASAP earning .

Bitcoin is not safe, it is risky and that's why you and I don't want to convince others. Because no one wants to be blamed or held accountable. I agree with all the comments that it is not advisable to convince someone because it is in their interest, if they refuse, let them choose.

Bitcoin can make someone goes rich overnight and also can make you lose everything also. Its is best before to do trade with bitcoin once need to learn about it first rather jump like an idiot and losing all their saving. I already sees a lot of mistake thinking they can make a lot of money with bitcoin trading and loses everything they got in the next day because of greed. Learning about bitcoin will save a lot of your hard saving and always do trade what you can afford to lose is a great way to learn and try something you didnt know too much about.

[Jawhead999]

If you want to convince him to let him believe in bitcoin, then show him proof that you have made a profit on bitcoin. The proof is the only thing bitcoin skeptics need, they don't require you to explain at length when you have not yet made a return on your investment. Your friend has a lot of money, and if you are poorer than him, there is no reason for him to listen to you. Like me, I would recommend bitcoin to my boss, but he is richer than me, and I can't teach him to get rich. That is ridiculous.

Do you think profit is the only one reason why someone want to buy and use Bitcoin? introducing someone about Bitcoin by the profit you make and you must be richer than the person you want to teach is really ridiculous lol. Some people choose Bitcoin to store their wealth because they don't believe with banks, there were many banks going to bankrupt and people are scared about it. That's true FDIC will insure your money as long as you not reach the maximum amount of insured funds, but there was few cases where the banks collapse and they weren't compensate any funds to the victims.

[Litzki1990]

Bitcoin is only going down in recent times. And gradually it is happening. The price of Bitcoin has dropped from around $30K to $27K over the past few days. If this continues, it won't take long for Bitcoin to go back to where it was before.  I do not understand any reason for such a sudden change in the market. 

Your friend suggested to invest 40% of his savings in bitcoins it is very good but at this time it might be better to wait for some time before investing in bitcoins. Because after investing during this time, if the value of Bitcoin gradually decreases, then your friend may break down mentally. So wait for some time and observe the market and then invest.

[DevilSlayer]

I keep reading replies that bitcoin is a "safe investment" even though there are no such really safe because everything has a risk it is up to you on how you can handle it. The higher the rewards, the higher the risks. Bitcoin is a high reward investment so it means that the risks are also high. The reason why it is called a a risky asset and not a safe haven asset is because of its high volatility and also the nature of uncertainty. The meaning of uncertainty is that you cannot have any guarantee that you can make money by just making investment on it.

If you will convince your friend to make investment in bitcoin then you should explain first its nature and you should tell them that they cannot become rich by just putting his money in bitcoin. It is a complicated process where you need to have a solid foundation and basic knowledge that can help you to create a strong solid plan that will lead to good trading performance. Make sure also that you should not force him to make investment, let him decide for himself.

[Bitcoin_people]

I have not yet been able to gain such good knowledge about the crypto market. And I can't tell someone to invest with such certainty because if I give an idea to someone to invest, it will be very difficult for him if he loses his money later. And I don't want anyone to take my advice and invest in crypto. What little knowledge I have about crypto will be best used only by myself as I am a small user. But I think if you want you should get knowledge from different big crypto traders who are always seasoned in investing. But it is hoped that you will be able to achieve success in the future by investing.

[Patrol69]

Investing is always a better decision than keeping money in the bank. But that investment should be well timed. And since your friend has been saving money no doubt he might have some big plans behind saving this money. Maybe he wants to connect himself with some business or some other profession by collecting a lot of money at once.

But investing involves some financial risk. And you want to ask him to invest like 40% to 45%of the assets but I think he should invest a little less amount first. Because if you invest with a small amount, your friend will understand the movement of the market. And if he decides to withdraw after investing a small amount of money, he will not lose much of his money. So before making the investment decision, you must think about it and then make a decision.

[dlightag]

Bitcoin investment has to deal with patients of time and as a new person towards cryptocurrency such as Bitcoin, have to educate your friend about it and if possible open a spot trading chart platform and show him/her how the market movements and previous histories of the market, while predict for a long time holding Bitcoin as percentage return from the initial investment, which no one can give actual price of Bitcoin, but it appreciate and no money lost in Bitcoin long time investment holding.

[darkv0rt3x]

Ordinarily, I don't like asking questions like this because I feel they're personal questions that should be answered by myself alone but it has been on my mind for a very long time and I have not gotten a solution for it.

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account. Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL. Holding won't be an issue for him because he has the patience of an old man. He has left the savings in his account for over two years without touching it. Now imagine him transferring that energy to Bitcoin.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

I don't advise anyone to buy Bitcoin. I just tell people how it works, why Bitcoin is better than any other asset, I tell them I'm all in, I tell them I trust the technology, etc an also that they should only invest what they can afford (not to lose but to invest)! If they have spare few bucks at the end of the month, why not?
I also like to focus that I cannot teach them everything and that they also need to WANT TO LEARN and that they need to do their own research.

Sometimes happens that I am talking about Bitcoin to my colleagues at work and they start asking me: but how I buy it? Tell me? Where do we buy it, etc and I tell them that they should not buy it like blindly. That they should always learn at least the basic concepts, etc an then they get disappointed. But yeah, they need to want to learn. This is not easy money!

[zanezane]

Ordinarily, I don't like asking questions like this because I feel they're personal questions that should be answered by myself alone but it has been on my mind for a very long time and I have not gotten a solution for it.

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account. Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL. Holding won't be an issue for him because he has the patience of an old man. He has left the savings in his account for over two years without touching it. Now imagine him transferring that energy to Bitcoin.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

I don't advise anyone to buy Bitcoin. I just tell people how it works, why Bitcoin is better than any other asset, I tell them I'm all in, I tell them I trust the technology, etc an also that they should only invest what they can afford (not to lose but to invest)! If they have spare few bucks at the end of the month, why not?
I also like to focus that I cannot teach them everything and that they also need to WANT TO LEARN and that they need to do their own research.

Sometimes happens that I am talking about Bitcoin to my colleagues at work and they start asking me: but how I buy it? Tell me? Where do we buy it, etc and I tell them that they should not buy it like blindly. That they should always learn at least the basic concepts, etc an then they get disappointed. But yeah, they need to want to learn. This is not easy money!

It's just like you are not encouraging someone to try what is you are doing. They only know they will gain something but they don't know how risk will they have to try just they heard about the money that some people earning. Without knowing the technicals of Bitcoin they will only lose a lot of money.

It's also best to suggest to the people that WILLING to learn about bitcoin, is to read the whitepaper https://bitcoin.org/bitcoin.pdf .If they are going to invest its best to spend what they are willing to risk to Bitcoin, not only bitcoin and also to other type of cryptocurrencies.

[panganib999]

Well, if your friend has been well-informed of the risks, the losses, and the potential headaches that may ensue with investing in bitcoin, I don't think you shouldn't absolve yourself of the pressure, after all you're not Jesus who could control the economy of bitcoin just to look impressive to your friend.

And he strikes me as someone who's smart enough to know what he's doing, he's probably thought about investing in it too, but is just waiting for a push from his friend circle. So I assume he pretty much knows what he's getting into, and if he's a good friend, he's not gonna blame you for any losses he may incur in the future.

[Baoo]

To be honest,  your friend has screwed up when he invest in worthless altcoins, I am pretty sure he was greedy and wanted to earn a large profit in short term. Unfortunately, that’s what happens you purchase cryptocurrencies without knowledge and strategy. In fact, it is certain that Bitcoin is a gainful investment and fruitful but in long term. In addition to that, I encourage your friend to invest only 30% of his capital in Bitcoin and 20% in Ethereum due to it is perilous to put all your money in digital currencies despite the profit in these best ones is kinda guaranteed. However, everything is expected to happen in crypto era. It would be better if we be prepared for all scenarios.

[Raflesia]

Well, if your friend has been well-informed of the risks, the losses, and the potential headaches that may ensue with investing in bitcoin, I don't think you shouldn't absolve yourself of the pressure, after all you're not Jesus who could control the economy of bitcoin just to look impressive to your friend.

And he strikes me as someone who's smart enough to know what he's doing, he's probably thought about investing in it too, but is just waiting for a push from his friend circle. So I assume he pretty much knows what he's getting into, and if he's a good friend, he's not gonna blame you for any losses he may incur in the future.

To be honest when looking at the context that indeed op's friends are in 2021 for that matter then I think 2 years is definitely a good learning and of course I think he has learned from all aspects including from the worst possible.
Now, when he feels sure about it, there's nothing he can do because he himself chose his own way.
Warn bitcoin that he has been around since 2021, I don't think he needs to be reminded because indeed a period of approximately 2 years he should be quite aware that choosing an altcoin is the wrong decision but in this case he is still not in bitcoin doesn't mean he is unaware but rather unwilling because it's been 2 years in the altcoin of his choice.

[Lida93]

 Like they say' "ones beaten twice shy", so I doubt if your friend will gather courage to continue with another crypto investment despite it's bitcoin this time around different from the initial altcoins he was first introduced to that he had to lose his many years of savings. How do you expect same to immediately go on with another investment plan again from same savings he has lost a part of to see altcoins.

I am opportune to have a clear knowledge and difference between altcoins and bitcoin doesn't mean the next is also privy to same information and this is the conviction I hold on to that makes me drag foot on wanting to convince anyone to invest in bitcoin. I may give you a surface level introduction about bitcoin but I'll never convince anyone to buy or invest. If a person is interested after a surface level exposure then it's expected they go do their own research furthermore and come back based on their own volition to want to invest. With this, am not liable in the case of any ugly uncertainty. So OP, please let the young man to be, for now. Don't push him.

[death69]

Guiding someone in the treacherous realm of finance, particularly crypto, is no walk in the park. Your buddy seems like a savvy, hardworking individual who's made some wise moves. But, as you astutely mention, venturing into crypto carries inherent risks.

Tread with caution and patience, my friend. Sure, Bitcoin reigns supreme in the crypto kingdom, but it may not suit everyone's fancy. Deliberate over a myriad of elements, like market trends and conditions, before committing to any investment.

Now, if your amigo is game for a Bitcoin adventure, it could be a brilliant maneuver. As you observed, he's got the patience of a Zen master—golden in the cryptosphere. Adopting a long-term HODL strategy could potentially land him a windfall down the road.

[evader11]

snip

You make a valid point in stating that it is not normal or fair for someone to feel compelled or accountable for the actions of their friends when it comes to investing in bitcoin or making any other financial decision. Individuals must conduct their own research and make informed selections before investing any money.

It is also vital to highlight that investing in bitcoin or any other cryptocurrency is dangerous, and individuals must realize and accept the potential losses and volatility that may accompany it.

[Ziskinberg]

Well, if your friend has been well-informed of the risks, the losses, and the potential headaches that may ensue with investing in bitcoin, I don't think you shouldn't absolve yourself of the pressure, after all you're not Jesus who could control the economy of bitcoin just to look impressive to your friend.

And he strikes me as someone who's smart enough to know what he's doing, he's probably thought about investing in it too, but is just waiting for a push from his friend circle. So I assume he pretty much knows what he's getting into, and if he's a good friend, he's not gonna blame you for any losses he may incur in the future.

Besides, he is not a kid anymore that needs total guidance and advice as to what he gonna do.
If he is about to listen to his friend and keep that advice personally, he probably knows what awaits him in investing in Bitcoin. The responsibility of a friend is somehow limited and I was certain that his friend could carry the risk as well. If he would listen then he might be saved but if not, he could never blame anyone but just himself as it was his decision already.

[martyns]

My advice to friends who want to be either an investor,a bitcoin trader,a cryptopreneur and someone who wants to venture into trading is that they should know trading is not really the way they think it is,trading has so many things that it comprises of,before going into trading,you must have a deep knowledge about how the market is,a deep knowledge about the seasons that market becomes favourable,and when it is not.He must also have gotten knowledge from experienced people in the trading field.He must possess some strategies that can make him successful in the field,and finally,he must know that trading is a risky game,it either favours you or becomes a pain to you.

[tjtonmoy]

I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.

Your work here is done. The more you push him now, the more doubt will come to his mind. Let the knowledge sink in first. The best approach is to let him come to you rather than tell him what to do. The own free will makes people become more dedicated to whatever they do.
Past performance is the key to understand what will come next. It doesn't determine the future, but you can get a more clear understanding on what is going to happen. So tell him that and sit back till he comes to you. That is the best you can do.

[GigaBit]

Remember that sometimes good advice can come across as bad. I think it is best to avoid it If you can't do that then inform about the risk first. If someone close with you and invests in your reference and loses there then the liability will be entirely on you. As a result, you can be guilty to them without doing any fault. Your relationship may get ruined. So I never want to encourage others to invest. If a person comes for consulting on his own responsibility then I can advise him for investment.

[Who is John Galt?]

Because he will buy it if I ask him to.

The main problem is that he will still act the way he will act, and not how you will act. What may be successful for you may not be so for him in the end. He may delay, he may suddenly need money in the midst of a bear market, and any other events may occur that will lead to undesirable consequences. Therefore, he must make the decision himself. You can only tell more about bitcoin, its nature, its benefits, as well as the risks associated with it. If a friend makes a decision, you can help him do everything in the most secure way, tell him about the importance of the private key and the seed phrase. But deciding to invest for him or asking him to invest in bitcoin, in my opinion, is not worth it.

[Minecache]

~snip~

 In addition to that, I encourage your friend to invest only 30% of his capital in Bitcoin and 20% in Ethereum due to it is perilous to put all your money in digital currencies despite the profit in these best ones is kinda guaranteed. However, everything is expected to happen in crypto era. It would be better if we be prepared for all scenarios.

Regarding altcoins, ETH is the best investment, but since he has lost a lot with altcoins before, I don't think OP should recommend altcoins even though ETH is good to invest in. As you said, any scenario can happen, especially with altcoins there is no guarantee ETH will not crash as it is still a centralized altcoin. Moreover, putting money in ETH will not reduce your risk anymore because once bitcoin crashes, the entire crypto market is inevitable. But in the end, it's still better for him to decide than to force or give advice at our disposal.

[MarjorieZimmermanGinger]

Remember that sometimes good advice can come across as bad. I think it is best to avoid it If you can't do that then inform about the risk first. If someone close with you and invests in your reference and loses there then the liability will be entirely on you. As a result, you can be guilty to them without doing any fault. Your relationship may get ruined.

There are many risks for those of us who give advice to others, not necessarily the advice we give can also be carried out well, even though we have given an idea and potential risks that will occur, so that when everything becomes worse for him then we will be blamed for the failure he did on the basis of our advice. That's our behavior as human beings and when a failure in his life will try to bestow the mistakes to others and I often see events like this.

Consider giving advice to people who are unfamiliar with the knowledge he wants to listen to and if they don't know anything about these advice, then I am sure that advice will never be used and will never be useful for him. For example, you give advice about Bitcoin to people, but if the person's knowledge about Bitcoin does not exist at all then the advice will not be useful for him, because they will never want to know what Bitcoin is like? And how to run it?

So I never want to encourage others to invest. If a person comes for consulting on his own responsibility then I can advise him for investment.

That's right and we don't need to encourage anyone to invest, because when they are sure of something they will definitely try to learn it first and the rest if they still don't understand they will definitely start asking questions. People like this are easier to give advice because they already have a basis for what they want to ask and our burden is not too big to explain according to our experience.

[Supreemo]

Do not advise anybody to buy BTC, many people buy BTC without actually knowing what it is because their friend or family told them to buy it to make X amount in returns. When you don't know what BTC is you'll struggle to use or even hold it, and you can easily be scammed.

If your friend is interested in BTC, and you know something about it, you can teach them how BTC is a second choice currency to fiat which is censorship resistance and permissionless, you should also tell them the advantages of using BTC, it is better to tell people what BTC is first, that's a currency, before you let them know that is is also an asset that can be invested into because its supply keeps reducing and the value keeps going up. If your friend understands all the basic things about BTC, they will decide for themselves.

i agree with you on that, it's not good to advertise bitcoin to other people especially when don't have any idea what is it because you're being fraud and those people have financial problem and they think the solution for it is to buy bitcoin and wait until it pumps but the problem is when would it be? it's better to make some research and think twice, invest what you can afford to lose.

[DevilSlayer]

Remember that sometimes good advice can come across as bad. I think it is best to avoid it If you can't do that then inform about the risk first. If someone close with you and invests in your reference and loses there then the liability will be entirely on you. As a result, you can be guilty to them without doing any fault. Your relationship may get ruined.

There are many risks for those of us who give advice to others, not necessarily the advice we give can also be carried out well, even though we have given an idea and potential risks that will occur, so that when everything becomes worse for him then we will be blamed for the failure he did on the basis of our advice. That's our behavior as human beings and when a failure in his life will try to bestow the mistakes to others and I often see events like this.

Consider giving advice to people who are unfamiliar with the knowledge he wants to listen to and if they don't know anything about these advice, then I am sure that advice will never be used and will never be useful for him. For example, you give advice about Bitcoin to people, but if the person's knowledge about Bitcoin does not exist at all then the advice will not be useful for him, because they will never want to know what Bitcoin is like? And how to run it?

So I never want to encourage others to invest. If a person comes for consulting on his own responsibility then I can advise him for investment.

That's right and we don't need to encourage anyone to invest, because when they are sure of something they will definitely try to learn it first and the rest if they still don't understand they will definitely start asking questions. People like this are easier to give advice because they already have a basis for what they want to ask and our burden is not too big to explain according to our experience.

Only encourage the people who have same risk tolereance with you, do not ever force someone to invest something especially if you know that their personality, character, mindset and knowledge are suitable in that kind of scenario. If you force someone to make investment on something that they don't want and they lose because they followed your advice, the highest probable outcome is they will blame you because they incurred losses. In order to avoid this kind of scenario, do not ever force someone who do not have any background in any financial markets.

Only give advices about investment if they are the ones who make a the first move or if they are the one who initiated first to learn regarding this topics. I have a lot of friends but I didn't force them to learn things regarding crypto or force them to buy a certain coin. I'll only make suggestion to them once they fully became interested and they reach out to me to learn investing.

[FahriZah]

When I,m New In Crypto Market Than Anybody Don,t Advice Me And When I Own Research Than My One Friends Advised Me Who Like My Big Brothers But I Have Complete Many FRIENDS To Advice But My Friends Not Interested In Crypto Because They Are Don,t Know How It’s Working & Facilities Crypto Currency.

[MarjorieZimmermanGinger]

Only encourage the people who have same risk tolereance with you, do not ever force someone to invest something especially if you know that their personality, character, mindset and knowledge are suitable in that kind of scenario. If you force someone to make investment on something that they don't want and they lose because they followed your advice, the highest probable outcome is they will blame you because they incurred losses. In order to avoid this kind of scenario, do not ever force someone who do not have any background in any financial markets.

Only give advices about investment if they are the ones who make a the first move or if they are the one who initiated first to learn regarding this topics. I have a lot of friends but I didn't force them to learn things regarding crypto or force them to buy a certain coin. I'll only make suggestion to them once they fully became interested and they reach out to me to learn investing.

A decision sometimes has a different way of implementing it and that is why not all suggestions are suitable for us to give to certain people, for some people who are not familiar with financial markets and are not used to taking risks when investing, it is not easy for us to advise them because lack of basic knowledge about the investment they have. Get to know the person you want to give advice to and ask how prepared they are to make an investment decision that involves risk.

Giving investment advice to people who are interested and have basic knowledge is much easier, because they have the basic knowledge and are not too unfamiliar with investment knowledge. As I said before, when they are interested in investing, they will definitely try to learn the basics of previous investments and will ask questions according to what they don't understand from their experience in investing. Therefore there are basic considerations in giving advice to ordinary people, because not everything they can understand quickly and not to mention the price fluctuations in the crypto space.

[Rupok]

Bitcoin is undoubtedly a good investment and risk free.  Ultra coins take a long time to recover from a price drop. I think  ultracoins are very risky.We can speculate about the market, but no one can say for sure.  Bitcoin would be a great choice as a long-term investment for those with a good financial backup.Since your friend has a good financial backup, he might be thinking about Bitcoin.  But how much your friend knows about BTC and can invest if he is interested in BTC.

[Litzki1990]

Bitcoin is undoubtedly a good investment and risk free.  Ultra coins take a long time to recover from a price drop. I think  ultracoins are very risky.We can speculate about the market, but no one can say for sure.  Bitcoin would be a great choice as a long-term investment for those with a good financial backup.Since your friend has a good financial backup, he might be thinking about Bitcoin.  But how much your friend knows about BTC and can invest if he is interested in BTC.

Investing is not just about having good financial backup, investment knowledge, financial backup, risk taking, patience, market analysis, etc. are all necessary to invest. A person with good financial backup but no investment knowledge will not be able to do much in the field of investment. And that's why I said to be patient because many times it is seen that after investing, the invested money loses some amount, as a result of which there are many new investors who cannot accept the losses, so they are forced to sell their investments.
Our main objective of investing is to earn some profit from the investment but if we sell our investments due to some temporary loss then we will never see the profit.

[Antonas1]

Definitely not. Many people lose money after purchasing Bitcoin because they can't wait for a "good price".
So you have to be the one who doesn't care sometimes. People won't judge you as a good friend if your suggestions are successful, but they will say you are bad friend if the suggest don't work.

[Awaklara]

Definitely not. Many people lose money after purchasing Bitcoin because they can't wait for a "good price".
So you have to be the one who doesn't care sometimes. People won't judge you as a good friend if your suggestions are successful, but they will say you are bad friend if the suggest don't work.

those who lose money buying Bitcoins are those who lack market knowledge. they buy Bitcoin just because of the suggestion or the hype that social media brings. and they become rush to buy Bitcoin. after owning Bitcoin it doesn't go up but the price keeps going down, that's what makes beginners panic. that's natural, if they have good knowledge. won't be a problem. which became a problem when they became more frantic with the ever-decreasing value of the asset.

[Magic-Money]

Every problem has a solution and the solution is to seek for knowledge and meet people at that is doing cryptocurrency business, because through them information will be shared and Bitcoin is the best for anybody want to start crypto investment new, because no fear of dump or rug bull, and going for a new alt-coins to invest, the risk is very high either lost or profit and is not much advise for newbie that comes into cryptocurrency trading or investment, because it may lost all his/her fund's overnight.

[Antonas1]

Definitely not. Many people lose money after purchasing Bitcoin because they can't wait for a "good price".
So you have to be the one who doesn't care sometimes. People won't judge you as a good friend if your suggestions are successful, but they will say you are bad friend if the suggest don't work.

those who lose money buying Bitcoins are those who lack market knowledge. they buy Bitcoin just because of the suggestion or the hype that social media brings. and they become rush to buy Bitcoin. after owning Bitcoin it doesn't go up but the price keeps going down, that's what makes beginners panic. that's natural, if they have good knowledge. won't be a problem. which became a problem when they became more frantic with the ever-decreasing value of the asset.

We should start to realize just because they are loss, it doesn't mean they are newbie/beginners, as you claim. it could be they are understand Bitcoin and know how to read a chart and fundamental analysis, maybe the issue is only one of trading psychology.

[brother brother]

In such case, not only him but many has gone fustrated in such situations, and they have made up their minds not to get involve in such game again, this life is all about trying, you fall today, you raise up tomorrow,. It is good seen your friend prospering along with you as a good friend. But one thing in life is that we have different mind experience and our understanding toward life and goal achieve is quite different as well.

Call him down and explain your own experiences in life, the journey and struggle of gain and profit to what extent you take risk several times to become who you are today, let him know and understand that there is always light at the end of the tunnel. advise in on the successful individual in the society and how much they suffer before they came to make it in life.

Another method is educating him about what you are advising him into, because is possible he may have not tried such before, when he got full knowledge about Bitcoin and how it has changed some people life entirely and your own achievement and progress on it and how you began and where you are today, I think you can win back his mind and brought his thought and idea on something new to make him progress more.

[Z390]

Your friend's bad luck began the moment another stupid friend advice him to buy altcoins in 2021, he literally told him to buy altcoins at an all-time high, that's very bad, you said two have died, and I am sure that the rest of the coins are in a very bad shape because of this bear market right now.

You need to gain his attention and tell him that the crypto market is all about when to buy and when to sell, tell him he bought the coins when he was supposed to be selling them, the right time for him to buy was in 2020, not in 2021.

Also using 40% of his money is kinda high, for a newbie that needs a lot of trading and research to do, they should start with 10% of what they have, and they should focus on Bitcoin more, because Bitcoin is the safest for newbies, and altcoins are good only if you know about them, as there are too many scam altcoins in crypto space, jumping into any altcoins without necessary knowledge is like gambling on a casino.

[Awraawra]

Well,I think you should not convince anyone to buy or invest in bitcoin especially to those people that not believe in bitcoin. Even your friend have a lot of money don't mind them and let them discover about bitcoin.
It's better to them to to save money than to invest in bitcoin.

[martyns]

Well,I think you should not convince anyone to buy or invest in bitcoin especially to those people that not believe in bitcoin. Even your friend have a lot of money don't mind them and let them discover about bitcoin.
It's better to them to to save money than to invest in bitcoin.

Investment is based on individual,I can not advice anybody to invest in Bitcoin,because if I do,and they lose,they will definitely ask me to refund their money,or they will keep malice with me forever.The race to make money is an individual race,everybody has his own land to take.I can only advice someone and tell the person all that is involved in it.That it is always two sided,either you win or you lose.When you win,then the better for you,but when
You lose,you won't have to blame anyone for losing too.

What I won't advice anyone to do is borrowing money to trade.This is very risky,And very bad,and I won't for no reason advice anyone.

[ChiBitCTy]

The truth is neither of you have any idea what you're doing and should educate yourselves before you keep investing poorly.  I'm a broken record on this site, but I am a licensed financial advisor and I hear stories like this every day.  You "advising" your friend to put 40% of his wealth in bitcoin is ridiculous.  Did you do a full financial plan for him? Do you know how much he's saving for retirement?  How old is he, and is he on track to meet his retirement goals based on his age, his family/wife/children situation?  What are all of his other investments and how much does he have in them?

I am amazed and how people will just listen to anyone about their finances.  Neither of you should be giving or taking advice from people who aren't qualified to do so.

[kawetsriyanto]

Definitely not. Many people lose money after purchasing Bitcoin because they can't wait for a "good price".
So you have to be the one who doesn't care sometimes. People won't judge you as a good friend if your suggestions are successful, but they will say you are bad friend if the suggest don't work.

The reason isn't only because they can't be patient to wait for a proper price to sell, they also may not know the market trends or bullish-bearish cycles in crypto (knowledge). If they know about them, they should choose the right time to buy and wait for the bullrun season for selling them. Many people buy Bitcoin or altcoins due to FOMO, they follow the people who already succeed in crypto. They think it is easy to earn profits in crypto, they are not aware that knowledge and experience are a must to succeed. This type of investor/trader can hold coins for weeks or months, but they can give up if they get nothing over a year. So, if our friends are likely in this type, we are better to avoid giving any suggestions, especially advice on high-risk investments like crypto.

*OP friend seems just following others to invest in crypto without sufficient knowledge. It is too risky to advise him, he probably blames OP if he fails.  

[posi]

Definitely not. Many people lose money after purchasing Bitcoin because they can't wait for a "good price".
So you have to be the one who doesn't care sometimes. People won't judge you as a good friend if your suggestions are successful, but they will say you are bad friend if the suggest don't work.

those who lose money buying Bitcoins are those who lack market knowledge. they buy Bitcoin just because of the suggestion or the hype that social media brings. and they become rush to buy Bitcoin. after owning Bitcoin it doesn't go up but the price keeps going down, that's what makes beginners panic. that's natural, if they have good knowledge. won't be a problem. which became a problem when they became more frantic with the ever-decreasing value of the asset.

Such people, I would call them greedy people who want to get rich quickly with bitcoins. Honestly, I don't feel bad for those people because they also know that making money is not easy nowadays, but they think bitcoin can make them easy money. I feel like they underestimate bitcoin thinking it can get them rich quickly.

Going back to the OP's question, I also agree that it's better to let his friend decide than to force him to buy bitcoins. When they win, they won't remember you, but when they lose, it's your fault and they'll blame you.

[John Abraham]

Definitely not. Many people lose money after purchasing Bitcoin because they can't wait for a "good price".
So you have to be the one who doesn't care sometimes. People won't judge you as a good friend if your suggestions are successful, but they will say you are bad friend if the suggest don't work.

Sometimes it depends on luck as well. Your Best friend won't call you a bad friend if your suggestions are unsuccessful. They will try to understand what you say. I have a friend who invested in GPU mining over a year ago. He saw I was making good money from GPU mining. So he asked if he could invest in mining. I agreed, and he bought GPUs. After a couple of months, ETH updated from Proof of Work to Proof of Stake.

Moreover, the GPU Mining era ended. As a result, My Friend was unable to get ROI. Of course, I don't agree that this is my fault, and he understands that. I won't suggest everyone invest in something where he can also lose. I mean, Investment means there is a possibility to lose. But, You have to choose the right people who understand those things.

Such people, I would call them greedy people who want to get rich quickly with bitcoins. Honestly, I don't feel bad for those people because they also know that making money is not easy nowadays, but they think bitcoin can make them easy money. I feel like they underestimate bitcoin thinking it can get them rich quickly.

I won't blame them for wanting to make easy money. Everyone wants to make easy money these days. We all have greediness inside. We all want to earn money. That's not a problem. The problem is we show off how easy it is to make money from Bitcoin. It's not as easy as it sounds. We are the ones to blame. When we talk with others, we tell them our success stories only. Newbies see the market pumps only. They don't see how often people say Bitcoin dies when the market drops.

[peter0425]

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

answer this first ..

what makes you think that there is a need for you to convince him to invest in bitcoin? just because you are an investors?
now that you are having a doubt  so you understand that blame might be yours once he fails?
though it is bitcoin and the chance of failure is very tin , yet you knew that it is not your money to be concern for.
you have done your part mate, after telling him everything he needs to know then let him the one to decide.
and besides surely he will contact you once he is decided.

[Antonas1]

~

~ Many people buy Bitcoin or altcoins due to FOMO, they follow the people who already succeed in crypto. They think it is easy to earn profits in crypto, they are not aware that knowledge and experience are a must to succeed.

People want to buy: "I believe this coin will make me rich; what do you think?"
Me: "Do your research first; don't rush."
People when loss: "Why don't you stop me from buying these trash coins?"

~ When they win, they won't remember you, but when they lose, it's your fault and they'll blame you.

100% Agreed

~ I won't suggest everyone invest in something where he can also lose. I mean, Investment means there is a possibility to lose. But, You have to choose the right people who understand those things.

Yeah. Unfortunately, a lot of people don't want to accept when bad things happen. Most of them are always looking for something to blame.

[Warkop]

Definitely not. Many people lose money after purchasing Bitcoin because they can't wait for a "good price".
So you have to be the one who doesn't care sometimes. People won't judge you as a good friend if your suggestions are successful, but they will say you are bad friend if the suggest don't work.

Someone's patience in terms of investing depends on themselves and even their true nature comes out by itself and we will know someone's character from that person's character.

If you have a friend who has been friends for a long time, it doesn't mean that he or she will be willing to see you succeed by walking alone. ourselves, sometimes family members can be a guarantee for ourselves to be successful.

[Jody.Drummer]

Definitely not. Many people lose money after purchasing Bitcoin because they can't wait for a "good price".
So you have to be the one who doesn't care sometimes. People won't judge you as a good friend if your suggestions are successful, but they will say you are bad friend if the suggest don't work.

those who lose money buying Bitcoins are those who lack market knowledge. they buy Bitcoin just because of the suggestion or the hype that social media brings. and they become rush to buy Bitcoin. after owning Bitcoin it doesn't go up but the price keeps going down, that's what makes beginners panic. that's natural, if they have good knowledge. won't be a problem. which became a problem when they became more frantic with the ever-decreasing value of the asset.

Such people, I would call them greedy people who want to get rich quickly with bitcoins. Honestly, I don't feel bad for those people because they also know that making money is not easy nowadays, but they think bitcoin can make them easy money. I feel like they underestimate bitcoin thinking it can get them rich quickly.

Going back to the OP's question, I also agree that it's better to let his friend decide than to force him to buy bitcoins. When they win, they won't remember you, but when they lose, it's your fault and they'll blame you.

In conditions like this, they only think in simple terms and don't want to be bothered by only focusing on when they buy, they will surely make a profit.
Even though this kind of thing is not completely wrong, it is true that great impatience and naivety actually make things like this very bad.

Things like this, believe it or not, are still very common, especially for new people who have a very large sense of naivety in this matter.
When we talk about pity, in this case when there is clear antipathy, pity, it's just that things like this happen more to their own mistakes, which makes it complicated because they don't want to be literate from the start.

[HajiBagi]

He start in a wrong path and I think the three coins he hold will not have a bright future, so he will blame himself for invest in these three coins. After that he will call any cryptocurrency including Bitcoin is scam, but it's his choice and you've done your part to teach him. Let him choose, you shouldn't force him to invest in Bitcoin, do you want your friendship will be ruined because your friend can't accept bear market when he already invest on Bitcoin?

Convincing someone to invest in bitcoin is a big risk; I never pray to do so. Instead, I prefer to teach people how to invest. When things go wrong, I shouldn't be held responsible. Today, encouraging people to invest has destroyed some relationships all in the name of advice. Since then, I no longer pray to inadvertently advise others to do the same.
Because of what happened to the three coins he invented and subsequently didn't see anything come out of, the friend, according to the narrative, won't believe in any cryptocurrencies. Therefore, my recommendation is that teaching someone how to invest is preferable to advising them to do so.

[martyns]

It is good to advice friends that are close to you to make investments on projects that have potentials,and before telling them about those projects,you must make research to know whether the money they will spend will not be a waste or not.It is always good to know all these to avoid having  problems with your friend,but if the person is not too close to you,it isn't good to advice them at all.Bitcoin has been so beneficial to people and it benefit alone should be seen by the friends who want to invest in it.Your financial growth should be the reason they want to make investments in Bitcoin.

[RockBell]

Definitely not. Many people lose money after purchasing Bitcoin because they can't wait for a "good price".
So you have to be the one who doesn't care sometimes. People won't judge you as a good friend if your suggestions are successful, but they will say you are bad friend if the suggest don't work.

Because of this, there are risks associated with investing in Bitcoin. For this reason, I always advise people to invest with funds they will not use. In addition, I don't believe that the majority of people trade their Bitcoin, instead, they prefer to hold it, which is the best option. However, some people may want to try out futures, which is very risky and could result in you losing all of the money in your wallet.

Giving advice on Bitcoin investments is always challenging because once things don't work out for them and the market turns negative, they start blaming you. The best you can do is provide suggestions, be clear, and advise them to conduct additional research.

[sokani]

There isn't a foolproof answer to this question... Personally, i have never tried to convince anybody to invest in anything. Not my parents, not my brother, not my friends...

If it goes wrong, they will always feel like you were responsible for their loss, and that's a burden i don't want... But that's just my personal opinion.

You're right mate. This reminds me of an issue that happened some years back. A son advised his mom to invest in shares and the mom took the advice of the son and bought some shares. After some years, the company hit rock bottom and it affected the stock of the company. The mom has been disturbing the son and blames him for the financial misfortune. As a result of this, sometimes I find it difficult to advise a family member or friend to invest in a business or project.

[Mr.sprin]

for me personally advice from friends is one of the encouragement for bitcoin investment yesterday I asked friends for advice about when is the right time to invest in bitcoin and my friend gave advice not to buy bitcoin yet wait until the market improves he said and I listened to it as time went on my friend's advice was right it was not the right time to buy bitcoins had i not asked my friend for advice i would have lost a lot of money.

[John Abraham]

~ I won't suggest everyone invest in something where he can also lose. I mean, Investment means there is a possibility to lose. But, You have to choose the right people who understand those things.

Yeah. Unfortunately, a lot of people don't want to accept when bad things happen. Most of them are always looking for something to blame.

Surely you don't want to suggest anything if the person is unknown or random. We usually recommend to our friends whether he should do it or not. Let's say your friend seeks your suggestion; you may suggest what is best for him. But, You cannot suggest to him what you don't know. For example, I am a shitcoin millionaire and have faith in shitcoins. I don't like Bitcoin, and it's my personal opinion. Now, If my friend asks me about my shitcoins, I will always suggest he buy shitcoins because that's how I become a millionaire.

The fact that Shitcoin worked for me doesn't mean it will work for him as well because we don't know which coin will do 100x in the next bull run. About blaming, You shouldn't suggest anyone upfront if they don't look for your opinion. They cannot blame you if you don't tell them upfront. That suggestion thing should be in a closed circle like friends and family. Your friends and family won't blame you for a loss because they know you well.

[gunhell16]

Ordinarily, I don't like asking questions like this because I feel they're personal questions that should be answered by myself alone but it has been on my mind for a very long time and I have not gotten a solution for it.

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account. Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL. Holding won't be an issue for him because he has the patience of an old man. He has left the savings in his account for over two years without touching it. Now imagine him transferring that energy to Bitcoin.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

First of all, you have no obligation to convince him to buy Bitcoin, even if you know it's good to invest in Bitcoin, he has no interest, and it doesn't matter what you do.

I understand that you don't want his hard-earned money to go to waste, but we can't do anything about where he wants to use it. Just let him get interested in Bitcoin on his own. So what are the altcoins you say it's invested in here? Because if the altcoins he bought are on a good exchange and it is included in the top exchange, it is possible to say that he can still make money in the future if he has not sold it, even if we say that their value has dropped a lot as long as he holds it first .

[Popkon6]

@op For my part, it is better not to wish to give wisdom to others. Since he has suffered losses once it is better not to advise him a second time. If there is an accident, he will blame you for the rest of his life and he will say that my savings were good.
Finally I would like to say if he wants to buy then definitely recommend investing in Bitcoin. However, hardware wallets and software wallets must store bitcoins. If you keep it for a long period of time, you can definitely reap huge benefits from here.

[cozytrade]

for me personally advice from friends is one of the encouragement for bitcoin investment yesterday I asked friends for advice about when is the right time to invest in bitcoin and my friend gave advice not to buy bitcoin yet wait until the market improves he said and I listened to it as time went on my friend's advice was right it was not the right time to buy bitcoins had i not asked my friend for advice i would have lost a lot of money.

I think your friend who advised you not to invest in Bitcoin right now probably knows a lot about Bitcoin.  You would have done much better by not investing in Bitcoin now. If you had kept investing in Bitcoin now, you might have lost more than your profit.  Because right now the price of Bitcoin is very reasonable if you were to invest in Bitcoin at this time.  Then within a few days of investing in Bitcoin, if Bitcoin goes dumping again, then you have the possibility of a big loss. Maybe your friend advised you not to invest because of this.  I think this is the right advice given to you.

[Xinarae*]

My personal oppinion is, you can advise your friend if you want but you should not force him to invest, because I think it is better not to impose your decision on your friend's personal decision. But if both of you want to take risk together then the matter will be considered differently. If you think she will take your advice then you can give her advice but keep in mind that it should be a long term plan.

[AnonBitCoiner]

Your friend is saving money in the bank because it is his personal desire and he is satisfied even if he gets less profit from it. But you cannot give him financial advice that if he invests in Bitcoin he will get us profit and he should invest 40% of his savings. Because if he loses his hard earned money somehow he will blame you and you will be responsible for that. So refrain from giving financial advice to anyone.  You can tell him about Bitcoin and of course you should also inform him well about the risks of Bitcoin investment.

Yes exactly you are right that we should tell a person that what is good and what is bad because everyone has their own decision and they can take care of their money in better way. Little or more but he is earning from bank and that's enough for him but if you tell him about the bitcoin and he doesn't get success then he will think wrong about you as he changes his thought because if you.

I think that its not matter that you are getting more or less profit but desiring for greater profit sometimes become risky and that's why individuals get deprived of their minimum profit too. bitcoin is good opportunity for profit but as compared to bank there is more risk involved in bitcoin.

[adzino]

I think you should be careful with giving investment advice, especially to someone who is working two jobs and might need that money for something important. While Bitcoin is a great investment opportunity, it's also a high-risk investment and there's no guarantee of making a profit in the short run, unless he is willing to hold his coins for years and years. But if your friend does have some extra money lying around that he doesn't need for anything important, maybe he could consider investing a small portion of it into Bitcoin, but don't suggest him to go all in. And definitely steer him away from buying any more shitcoins. Tell him to donate the money instead of investing in those shitcoins. You should be glad you didn't suggest him to invest in bitcoin 2 years ago. What he would have now would be half of what he had investing and would be indirectly blaming you for his losses.

[pinggoki]

Ordinarily, I don't like asking questions like this because I feel they're personal questions that should be answered by myself alone but it has been on my mind for a very long time and I have not gotten a solution for it.

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account. Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL. Holding won't be an issue for him because he has the patience of an old man. He has left the savings in his account for over two years without touching it. Now imagine him transferring that energy to Bitcoin.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

Well, that ain't a good start for him. Luckily, despite of having a bad start he didn't lose a faith in crypto and that is a good thing because it only implies that he is willingly learn and be part of the community. Now for you friend, it isn't bad to give some advice to anyone regarding in this matter, in fact it is in favor of the community however, you shouldn't urge anyone to invest especially if they had no idea on it because if things doesn't go well it could become your responsibility, instead let them invest on their own accord. I think it is better for him to come in himself.

[benalexis12]

My personal oppinion is, you can advise your friend if you want but you should not force him to invest, because I think it is better not to impose your decision on your friend's personal decision. But if both of you want to take risk together then the matter will be considered differently. If you think she will take your advice then you can give her advice but keep in mind that it should be a long term plan.

As people, the only thing we can do is to remind them and not force them to do what we want, of course it's not like that and it's not good either. Now, it's up to your friend to trust or believe what you say, because that's the way we have friends who don't understand everything we say right away, they can understand but for sure it's later.

[Litzki1990]

@op For my part, it is better not to wish to give wisdom to others. Since he has suffered losses once it is better not to advise him a second time. If there is an accident, he will blame you for the rest of his life and he will say that my savings were good.
Finally I would like to say if he wants to buy then definitely recommend investing in Bitcoin. However, hardware wallets and software wallets must store bitcoins. If you keep it for a long period of time, you can definitely reap huge benefits from here.

Saving is safe but investing is the way to grow money. And it is natural to take risks in making these investments. There is nothing wrong with giving someone investment advice. If you advise someone but he fails to invest according to your advice then that is not your fault. For those who don't know about it, we can only help them by informing them about it, but managing money is at their own risk. Investment should always be done after understanding the market, rushing here will never bring benefits.

[demonica]

If he is really open about crypto investment, then it's easy to convince him without actually telling him directly to buy Bitcoin although he already had a bad experience with altcoins. You can discuss him about Bitcoin (and you've mentioned that he's already aware that it's not a get rich quick scheme, he probably have understand Bitcoin). But instead of persuading him to buy Bitcoin (cause it might sound like an investment scheme), tell him that he can study about it by himself and decide whether he wants to risk some of his savings or not. Don't force your friend if he decided not to. But if he decided to invest and asked you for some advice then it's good.

[Road21Bitcoin]

Ordinarily, I don't like asking questions like this because I feel they're personal questions that should be answered by myself alone but it has been on my mind for a very long time and I have not gotten a solution for it.

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account. Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL. Holding won't be an issue for him because he has the patience of an old man. He has left the savings in his account for over two years without touching it. Now imagine him transferring that energy to Bitcoin.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

If he would buy Bitcoin if you asked him to, that is not already advising but convincing and urging him to buy Bitcoin. You have already explained to him what he needs to know about Bitcoin and he understands that it is not a scheme or a scam - then let that be enough. If he did buy Bitcoin with almost half of his savings because you asked him to and by some act of God, Bitcoin crashed in the near future - would you be able to bear for being the cause of your friend losing half his savings?

Tell him that if have questions or clarifications that he can always come to you or you can lead him to more resources where he can learn more. Also, don't dictate him how much of his savings he should use to BTC, that ain't your hard-earned money, you are not the one working two jobs. Let the final decision be upon him.

"You can lead the horse to the water but you cannot force the horse to drink it."

[Josefjix]

Ordinarily, I don't like asking questions like this because I feel they're personal questions that should be answered by myself alone but it has been on my mind for a very long time and I have not gotten a solution for it.

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account. Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL. Holding won't be an issue for him because he has the patience of an old man. He has left the savings in his account for over two years without touching it. Now imagine him transferring that energy to Bitcoin.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

Advice is simply assistance offered to those around us in order for them to understand our point of view about something. Your friend is fortunate to have you; not all friends can supply critical information, especially when there is a good probability of making substantial figures in crypto. Bitcoin has had more dumps and pumps in recent decades; this is notable, and we should maintain a positive attitude about the project. I've put 20% of my savings into Bitcoin, and believe me when I say it's worth it. Taking massive profits as bitcoin launched a market bull run. It is better to invest in Bitcoin and Ethereum rather than altcoins that lack market roadmaps and get delisted from exchanges. Altcoins can't survived the bear season, although altcoins have their specific bull season, if memory serves, GMT and Shiba Inu generate massive profits and beautiful smiles on the faces of investors and traders.

[Little_Sister]

If he is really open about crypto investment, then it's easy to convince him without actually telling him directly to buy Bitcoin although he already had a bad experience with altcoins. You can discuss him about Bitcoin (and you've mentioned that he's already aware that it's not a get rich quick scheme, he probably have understand Bitcoin). But instead of persuading him to buy Bitcoin (cause it might sound like an investment scheme), tell him that he can study about it by himself and decide whether he wants to risk some of his savings or not. Don't force your friend if he decided not to. But if he decided to invest and asked you for some advice then it's good.

The key word is never to persuade and force other people to invest in bitcoin because market prices fluctuate very risky that prices don't match expected speculation, so we can only share knowledge about bitcoin with anyone, but if it's related to investment it must be based on individual decisions because they have to be responsible take responsibility for their own investment. If any of my friends ask for advice, they always recommend the DCA investment strategy to avoid losses due to market corrections and at least he has to buy when the price drops above 15% of the current price.

[lepbagong]

My personal oppinion is, you can advise your friend if you want but you should not force him to invest, because I think it is better not to impose your decision on your friend's personal decision. But if both of you want to take risk together then the matter will be considered differently. If you think she will take your advice then you can give her advice but keep in mind that it should be a long term plan.

As people, the only thing we can do is to remind them and not force them to do what we want, of course it's not like that and it's not good either. Now, it's up to your friend to trust or believe what you say, because that's the way we have friends who don't understand everything we say right away, they can understand but for sure it's later.

actually there is nothing wrong with giving advice to friends who we think need to be advised, but I really agree with the colleague above, we should not impose our will even though the advice we give is clearly very good and helpful. because all is returned to those who receive the advice whether to follow it or not. individual rights must always be respected, otherwise everything we do will be like an order that must be carried out, not like advice.
sometimes the advice we give will not necessarily be in accordance with the recipient because there are differences, of course, every problem will not be the same.

[RealMalatesta]

Investing is not just about having good financial backup, investment knowledge, financial backup, risk taking, patience, market analysis, etc. are all necessary to invest. A person with good financial backup but no investment knowledge will not be able to do much in the field of investment. And that's why I said to be patient because many times it is seen that after investing, the invested money loses some amount, as a result of which there are many new investors who cannot accept the losses, so they are forced to sell their investments.
Our main objective of investing is to earn some profit from the investment but if we sell our investments due to some temporary loss then we will never see the profit.

I agree, having all of those together does result with a much better profit and that should be something that is provably a better deal. I believe that the best thing to do right now is to make sure that we can't really end up with ignorant moves.

There are many people who make moves that are ignorant because they do not check the data behind it and even if they try to, they do not know what that data represents. So that is why it is important to make sure that you invest at the right time to the right thing by knowing what you are investing into and why you are investing into it. There are a lot of stuff that you can study, and there are a lot of websites that helps you study it as well, so it shouldn't really be an issue for anyone to learn to be better.

[Alucard1]

Always remember that do not ever convince anybody to invest in Bitcoin or any cryptocurrency, we all dont know how long it will work, and if the person you convinced cannot wait anymore while his investment is not in good condition he or she might blame you.

You dont need to do that, especially for those persons who dont have any knowledge about cryptocurrency.

Instead of convincing him to invest in Bitcoin, why dont you just convince him to learn about cryptocurrency first, that is the best option for you to advise your friend, he might understand it sooner.

[Smack That Ace]

@op For my part, it is better not to wish to give wisdom to others. Since he has suffered losses once it is better not to advise him a second time. If there is an accident, he will blame you for the rest of his life and he will say that my savings were good.
Finally I would like to say if he wants to buy then definitely recommend investing in Bitcoin. However, hardware wallets and software wallets must store bitcoins. If you keep it for a long period of time, you can definitely reap huge benefits from here.

Saving is safe but investing is the way to grow money. And it is natural to take risks in making these investments. There is nothing wrong with giving someone investment advice. If you advise someone but he fails to invest according to your advice then that is not your fault. For those who don't know about it, we can only help them by informing them about it, but managing money is at their own risk. Investment should always be done after understanding the market, rushing here will never bring benefits.

Giving investment advice to someone is also not a wise thing because even ourselves have no guarantee that our investment will definitely return. So, depending on the object and relationship, giving appropriate advice, IMO.
Furthermore, we need to give fair advice, meaning you need to tell him all the pros and cons of investing in bitcoin, not just say to him about the profits and ignore the risks.

For me, I won't give any advice, if someone wants to invest in bitcoin, the only thing I can do is give them basic knowledge. The rest, all decisions are up to them, I don't want anything to do with their investment, and I don't want to be blamed.

[Alisha-k]

Let him come to the conclusion himself and be sure that's what he wants so that if at the end of the day it doesn't work out well, it wouldn't be said you lured or compelled him into investing into something that made him lose out on his fortune.

[romero121]

It is his money and he is supposed to take the decision. We need to help him with different choices available. Whether the investment is huge or low when we suggest and if the same wasn't able to provide good profit then this could hurt us. Many such incidents have taken place in real life and even you and me could've experienced it. What's the need of such kind of hurting. So, let them learn, understand and further choose from the available list.

[smile1218]

It is hard to give an advise to a friend about Bitcoin investment. It would be better if your friend will consult a professional financial advisor before investing or he should do his own extensive research to know how risky and volatile it is. At the end of the day it would still be his decision if he will invest or not. I think do not give unsolicited advise so that you will not be blame if ever he invested and suddenly he lost all his money. It is much better if he will decide for his own investment. If he asked you for a piece of advice just tell him to thoroughly research and understand the risks involved before investing in crypto currency.

[CryptoBuds]

I don't dare to convince other people in the crypto world because in the crypto world the risk is high, most people who want to invest don't think about losses, but people only focus on profits. for investing in the crypto world.

Indeed, although I know the potential of bitcoin is huge, there is no guarantee that there will be no risks, so I do not want to give any advice to anyone, not even my brothers. I like to take risks, willing to take risks for great rewards, but I don't know if others are like me, so it's not entirely right to impose my thoughts on others. If someone asks me about bitcoin or cryptocurrency, the only thing I will provide is knowledge. I will never answer whether to buy or sell, or invest in which coin to make a profit, even if it is bitcoin.

We are neither experts nor prophets, we never know what will happen in the future. So giving financial advice to others is self-harm.

[Lorence.xD]

I don't dare to convince other people in the crypto world because in the crypto world the risk is high, most people who want to invest don't think about losses, but people only focus on profits. for investing in the crypto world.

That's actually good, I also don't want to take responsibility when people loss their funds in something that I convinced them. Maybe I will introduced them how crypto works where they could find some opportunities if they make the right choice. I would tell them the risk that crypto have, and also that risk might be reduce if they study and take their time before they entry to this industry. Those risk doesn't only focus to the win if they might understand it they might learn.

[peter0425]

don't dare to convince other people in the crypto worldI because in the crypto world the risk is high, most people who want to invest don't think about losses, but people only focus on profits. for investing in the crypto world.

That comment is indeed correct , why do we need to lure them inside when it is not
our money that they are using , instead of asking them or encouraging them to invest
in crypto , why not help them understand this first completely and so it will be their decision to make in the coming days.
I remember when i was first told about this market and indeed , i denied couple of times,
until time happens that I realizes my missing and yes from then I start investing and actually gambled a lot.
learning many bad things before the good things and yes , we need to experience those for betterment of our investing.

[Obari]

There isn't a foolproof answer to this question... Personally, i have never tried to convince anybody to invest in anything. Not my parents, not my brother, not my friends...

If it goes wrong, they will always feel like you were responsible for their loss, and that's a burden i don't want... But that's just my personal opinion.

Exactly  and getting  to convince people to invest in a very highly  volatile  asset like cryptocurrency is a very risky one because at some point, you might be blamed directly  or indirectly if things don't go as planned.

If I'm not wrong, you said you already told him about bitcoin  and it's difference from other altcoins as well as the risk involved and how bitcoin  isn't a get rich quick scheme, then I will say that you've  already done more than enough and there is nothing you're expected to do again, anything you do after now, might seem like persuasion and at some points, he might want some sort of guaranty which I'm sure you don't have to give except you're willing  to repay him if he loses money.

Just let him make his decisions and possibly  don't talk about it again to him except he ask and you can pick it up from them and if he finally gets interested, then you can teach him how to go about it and the safety tip  with wallets and also possibly introduce  him to the forum.

Just my opinion  though.

[YUriy1991]

I don't dare to convince other people in the crypto world because in the crypto world the risk is high, most people who want to invest don't think about losses, but people only focus on profits. for investing in the crypto world.

If I see you are hesitant or don't want to be tied down in convincing others to invest in the crypto world. Yes, convincing others to invest in the crypto world is not easy if it's true. If you are praised, if you are wrong, you will definitely be blamed because of your presence, especially if he is just entering and doesn't really understand the cryptocurrency world which is very volatile and unpredictable, making it a high-risk investment.

Instead of persuading others to invest in cryptocurrencies altogether, I think it may be more effective to educate them about the potential risks and benefits. By giving them a balanced perspective, they can make decisions based on their own risk tolerance and financial goals.

[blackened515]

I don't dare to convince other people in the crypto world because in the crypto world the risk is high, most people who want to invest don't think about losses, but people only focus on profits. for investing in the crypto world.

Cryptocurrency is risky, and convincing a friend to invest in it is inappropriate. What if things don't go as planned? Crypto has a different point of view. You must have benefited from bitcoin, but when your friend attempts to invest, Bitcoin crashes and his money vanishes, it is not your fault; rather, he is aware of the risks involved and is eager to take them. Let's take a positive approach: what if bitcoin pumps and he makes substantial profits? He'll be thrilled and grateful to you for showing him the way to make money with Bitcoin. It can be trading or buying and holding for the long term.

[Lillominato89]

I don't dare to convince other people in the crypto world because in the crypto world the risk is high, most people who want to invest don't think about losses, but people only focus on profits. for investing in the crypto world.

Cryptocurrency is risky, and convincing a friend to invest in it is inappropriate. What if things don't go as planned? Crypto has a different point of view. You must have benefited from bitcoin, but when your friend attempts to invest, Bitcoin crashes and his money vanishes, it is not your fault; rather, he is aware of the risks involved and is eager to take them. Let's take a positive approach: what if bitcoin pumps and he makes substantial profits? He'll be thrilled and grateful to you for showing him the way to make money with Bitcoin. It can be trading or buying and holding for the long term.

if I really had to convince a friend I wouldn't do it by saying to invest, investing in bitcoin or other cryptocurrency is risky if you don't know how to move! rather I would advise him to study the bitcoin protocol and how it works, then he will decide himself whether or not to invest in bitcoin! I would never want to be labeled by a friend as the one who made them lose money

[jaberwock]

Giving investment advice to someone is also not a wise thing because even ourselves have no guarantee that our investment will definitely return. So, depending on the object and relationship, giving appropriate advice, IMO.
Furthermore, we need to give fair advice, meaning you need to tell him all the pros and cons of investing in bitcoin, not just say to him about the profits and ignore the risks.

For me, I won't give any advice, if someone wants to invest in bitcoin, the only thing I can do is give them basic knowledge. The rest, all decisions are up to them, I don't want anything to do with their investment, and I don't want to be blamed.

I think there is nothing wrong on giving an advice and it does not directly mean about the future of our investment but it's also about how can we secure our coins or wallet so that it won't get hack on our hodling journey.

There are some who are confident on giving advices because they are not new in that field anymore and they already gained a lot of profits. They are still confident that their investment will bear them another profit in the future. They are too kind because they let others know about it and want them to join the ride as well. Overall, no one is forced to give advice but if some of your close friends and family approach you, will you still have the guts to ignore them?

[hannahB4]

I will say that if your friend is not personally convinced about investing in Bitcoin don't force it, from the illustration you gave he is working hard to make the money you claim he is saving, and for that kind of person seeing the money idle is better than them seeing the market in its volatile nature.

[Kasabus]

Your only role is to educate him about bitcoin and its market, but never reach to the point of finally convincing him to invest in it because you might be obliged to take the blame when everything didn’t work as planned. His money, his rules, and would never be yours. Besides, let him do such mistakes once, if that what it takes to make him learned and would never repeat the same mistake again. After all, one should never fear having mistakes and losses because they’re always be inevitable when you enter the world of investing.

[freedomgo]

You’re intention is really good but always remember that bitcoin is still not 100% safe and secured investment as it could end up zero value when we least expect it. So always play it safe, and never decide on someone’s money no matter how good or sure you are with bitcoin. Let him learn and decide on his own. If he lose, that’s part of investing, but if he decides to buy your idea and invest on bitcoin, then good for him but always remind him that he should always be responsible of his own actions, and not that you will take the blame in the end if his investment did not work.

[Lordhermes]

You’re intention is really good but always remember that bitcoin is still not 100% safe and secured investment as it could end up zero value when we least expect it. So always play it safe, and never decide on someone’s money no matter how good or sure you are with bitcoin. Let him learn and decide on his own. If he lose, that’s part of investing, but if he decides to buy your idea and invest on bitcoin, then good for him but always remind him that he should always be responsible of his own actions, and not that you will take the blame in the end if his investment did not work.

you just nailed it there, people should learn how to minimize advice when it comes to investing money. this could ruin your relationshipwith people, instead of telling them to invest in any investement your in, be bold to tell them the risk in it too, no investment is sure, its a risk taken.not only Bitcoin. the best way to advice a friend is to teach them the way, allow them to make the decisions in case of any outcome you will not be blame.
however, is not al investement you should inform your friends about, some friends doesn't like cypto, so you avoid them. know what your friends like s a better way to keep good relationship.

[Promocodeudo]

To me this intention of yours is not bad but the implications might be disasterous because it might not end well, it would have been better if this person approach you for this advice then you have to tell him what is obtainable, making him to understand that investing in Bitcoin or whatever does not guarantee a good return and most times your capital might depreciate when you have finally decided to withdraw, the best option on this is to allow him to make decision on his own so that whatever comes after he takes with good faith instead of blaming any person for his misfortune.

[CryptoHeadlineNews]

I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

For the fact that you have explained everything he needs to know about Bitcoin, as not a get-rich-quick scheme, and  a digital currency whose price is volatile, I will rather advise you that you should always try to let people know about the use, benefits and importance of Bitcoin, but never you persuade anyone into buying it without their full conviction, because if market happens to go wrong now you are the first person to be blamed for haven introduced them to it and they end up losing their funds.

[Sanitough]

It is his money and he is supposed to take the decision. We need to help him with different choices available. Whether the investment is huge or low when we suggest and if the same wasn't able to provide good profit then this could hurt us. Many such incidents have taken place in real life and even you and me could've experienced it. What's the need of such kind of hurting. So, let them learn, understand and further choose from the available list.

Yes, precisely mate! It doesn't have to be in a way where we will be the ones who will convince them to invest in a specific field where we can see them gaining profits like cryptocurrencies just because they've got a lot of funds just sitting in the bank waiting to be withdrawn and then spend with whatever they want. We surely do not want to get in the middle of all the blame if ever things go wrong, we just have to let them know that there is a way to make a passive income rather than just keeping it in a bank.

[stomachgrowls]

There isn't a foolproof answer to this question... Personally, i have never tried to convince anybody to invest in anything. Not my parents, not my brother, not my friends...

If it goes wrong, they will always feel like you were responsible for their loss, and that's a burden i don't want... But that's just my personal opinion.

Exactly  and getting  to convince people to invest in a very highly  volatile  asset like cryptocurrency is a very risky one because at some point, you might be blamed directly  or indirectly if things don't go as planned.

If I'm not wrong, you said you already told him about bitcoin  and it's difference from other altcoins as well as the risk involved and how bitcoin  isn't a get rich quick scheme, then I will say that you've  already done more than enough and there is nothing you're expected to do again, anything you do after now, might seem like persuasion and at some points, he might want some sort of guaranty which I'm sure you don't have to give except you're willing  to repay him if he loses money.

Just let him make his decisions and possibly  don't talk about it again to him except he ask and you can pick it up from them and if he finally gets interested, then you can teach him how to go about it and the safety tip  with wallets and also possibly introduce  him to the forum.

Just my opinion  though.

You wouldnt really be having no doubts if you do just simply tell the truth on having that in balance between opportunity and the risks involved whether you would really be dealing up with Bitcoin or with some altcoins.

The real deal on here is on how you would be able to make yourself commit on engaging with this too volatile world or market. Just dont make any guarantees or any assurances whether you would be telling it to a friend or would be other person because it would really be ending up that you would be finding yourself to be that getting blamed on the time that you would really make out some assurance.
We know on how this market works and on how it do behaves.Neither you would be telling or convincing your friend on joining into crypto or would solely voluntarily be doing this on his/her own.
Tell him/her about the basic principles and let him do on whats the rest because other learnings could  really be acquired through real experience.
Usually relationships been destroyed if we do talk or speak about money on which we should really be trying out to avoid as much as possible.

[Sexylizzy2813]

Ordinarily, I don't like asking questions like this because I feel they're personal questions that should be answered by myself alone but it has been on my mind for a very long time and I have not gotten a solution for it.

I have a friend that works hard. He does two jobs and he makes a lot of money. Most of his money is in a savings bank account where he saves them. He doesn't have any use for it right now so the money is just sitting pretty in that account. Lately, I've been having the urge to advise him to buy Bitcoin with like 40% of his savings and HODL. Holding won't be an issue for him because he has the patience of an old man. He has left the savings in his account for over two years without touching it. Now imagine him transferring that energy to Bitcoin.

The problem is, someone has convinced him to buy altcoins before now, I think in late 2021 or thereabout. He bought three different altcoins for about $500 and now two out of the three coins he bought are worthless. one is worth about $0.045. The price ain't the issue, the issue is these coins are not like Bitcoin that will rise again.
I have explained all he needs to know about Bitcoin to him and he understands. He understands how Bitcoin is not a get-rich-quick scheme, the risk, and the patience involved.
He buys into the idea but I'm still having doubts. I don't want to look like a fraud when things don't work out. I mean, I can speculate about the market all I want, but I can't be sure what tomorrow brings.

So should I go ahead and advise him to buy Bitcoin or I should leave him to come to me himself? Because he will buy it if I ask him to.

There's nothing to be afraid of because if you look at it this way, life is all about risk so by now he must have known what it takes to get a good profit from investing on Bitcoin.
To me I'd advise you to go to him and tell him all about it (Bitcoin), the good and the upset of Bitcoin, let him be aware of everything he needs to know.
Since you're his friend is best you lead him through this investment than for him going out to meet someone who would want to scam him. He has the patience that means he ain't going to rush into it immediately (like using all his cash because he wants a bigger return), is just best you guide him. It will really hurt you more if he falls in the hands of scammers, so don't wait.

[Mame89]

As people, the only thing we can do is to remind them and not force them to do what we want, of course it's not like that and it's not good either. Now, it's up to your friend to trust or believe what you say, because that's the way we have friends who don't understand everything we say right away, they can understand but for sure it's later.

Giving advice to friends who need it is not wrong, it is true that accepting or not receiving advice depends on each individual's rights. Therefore, when giving advice, we should do it well and explain it easily so that our friends can easily understand it to make their own decisions.

In addition, it is also important to understand that every problem faced by someone can be different and therefore the advice we give may not always be suitable or relevant to their situation and thoughts, we must try to explain again. we also need to understand their situation well before giving advice. As friends who care, we must always be ready to listen and support our friends in explaining something, especially when it comes to investing. Sometimes, providing emotional support can be more helpful than giving unsolicited advice. The point is, don't leave your friends alone who don't understand investing.

[Botnake]

You know, if he had understood well about bitcoin including the high risks and the high volatility that will cause the price fluctuations, then he will decide on himself even without convincing him. After all, getting rich quick is not an issue for him so he might decide to try investing in bitcoin from his money sleeping in the bank. I guess you’ve done your part there, educating him and giving him all that he should know. It’s up to him if he will bite and follow what is right, it’s his money so his own decision rules.

[serjent05]

As people, the only thing we can do is to remind them and not force them to do what we want, of course it's not like that and it's not good either. Now, it's up to your friend to trust or believe what you say, because that's the way we have friends who don't understand everything we say right away, they can understand but for sure it's later.

Giving advice to friends who need it is not wrong, it is true that accepting or not receiving advice depends on each individual's rights. Therefore, when giving advice, we should do it well and explain it easily so that our friends can easily understand it to make their own decisions.

I agree giving advice is different from pushing your ideals to the person.  So in giving advice we should observe and do things in moderation.  Just give him the needed information about Bitcoin and give an example of why it is necessary.   We don't need to push hard and convince them since they have their own mind to balance things out and think for the solution for their problem after getting the necessary information.

In addition, it is also important to understand that every problem faced by someone can be different and therefore the advice we give may not always be suitable or relevant to their situation and thoughts, we must try to explain again. we also need to understand their situation well before giving advice. As friends who care, we must always be ready to listen and support our friends in explaining something, especially when it comes to investing. Sometimes, providing emotional support can be more helpful than giving unsolicited advice. The point is, don't leave your friends alone who don't understand investing.

Nope, the advice you must give must be related to the person's problem.  If we are the ones giving advice, we should be carefully learning the situation so that we can give good advice to the person.  If your talk about unrelated stuff to the person's problem then it is better to just keep quiet.  Talking non-sense might be an insult to the person who is seeking advice since it means you are not giving or paying attention to him at all.

[JoyMarsha]

You did what a good friend is supposed to do for his friend by telling his friend to invest in bitcoin instead of saving his money inside the bank for a long that won't yield profit for him. Even though I've given my friends similar advice, I did so by first explaining the value of investing in bitcoin and the associated risk to them. I didn't try to convince them to buy bitcoin or compel them to do so. I just let them make that decision on their own before investing in bitcoin for them because trying to persuade friends or family members to invest in bitcoin is the worst thing anyone could do. So I would advise you to do the same

[BobK71]

You did what a good friend is supposed to do for his friend by telling his friend to invest in bitcoin instead of saving his money inside the bank for a long that won't yield profit for him. Even though I've given my friends similar advice, I did so by first explaining the value of investing in bitcoin and the associated risk to them. I didn't try to convince them to buy bitcoin or compel them to do so. I just let them make that decision on their own before investing in bitcoin for them because trying to persuade friends or family members to invest in bitcoin is the worst thing anyone could do. So I would advise you to do the same

Advising someone in any financial endeavor is a very difficult task. In this case, if someone succeeds, then they can praise you, on the other hand, if they fail, they most probably destroy their relationship with you. In financial activities usually your own relatives may also misunderstand you. That's why you must have given a good decision. If those people are given a good idea about Bitcoin, they will be willing to invest in it by themselves. There is no need to advise those people to invest. Also, since you will not get any of their profits, why you do the things that deteriorate the relationship. Always refrain from giving investment advice.