My friend's investment in Bitcoin

[Godlovesyou]

Well, there nothing wrong showing your friend what you're into, but you know bitcoin investment is highly risky, I have made the same mistake of telling my friend to invest and when he loss his money, it seem to him as if am responsible for his loss or am indirectly aware how his money went to loss. So my kindy advise when telling people about bitcoin tell them to take enough time to learn first, when they learn and be satisfied to invest, at that point you're no longer responsible because the person knows what is fully involved.

[1714911053]

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[1714911053]

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[cydrix]

Particularly at this time, investing $500 in bitcoin as a rookie is too. It is fine that you informed him about bitcoin, but you ought to have given him appropriate advice. There are many things that are lacking... He tried the Dollar Cost Average approach for what reason? What if he had only put down $50 as opposed to $500? Think about how he would react if his investment fell from $500 to $90 as opposed to $50 to $30. I hope my example makes my argument. Therefore, you still need to teach him.

[sokani]

It is a good thing that you told your friend about bitcoin because it is only when you truly love someone that you show them the path to light and educating your friend about Bitcoin is giving him financial freedom. But I hope you gave your friend all the necessary information about Bitcoin investment such as:
1. Bitcoin is a digital coin.
2. It is a volatile asset and the price fluctuates.
3. Bitcoin is not a ponzi or a get rich quick money scheme.
4. Patience is of great importance to become a Bitcoin investor.

[Wend]

Well, there nothing wrong showing your friend what you're into, but you know bitcoin investment is highly risky, I have made the same mistake of telling my friend to invest and when he loss his money, it seem to him as if am responsible for his loss or am indirectly aware how his money went to loss. So my kindy advise when telling people about bitcoin tell them to take enough time to learn first, when they learn and be satisfied to invest, at that point you're no longer responsible because the person knows what is fully involved.

I fully support you. Instead of giving someone advice or forcing them to make a hasty investment, we recommend they take the time to learn everything before making a final decision. With that, not only do we no longer have to bear the responsibility and worry for them, but they are also more secure with their choices because once they have knowledge, their beliefs are very solid. And as we all know, trust is very important when investing in bitcoin, a relatively new and volatile asset. Most of the people who lose when investing in bitcoin lack knowledge and don't have enough faith in bitcoin.

[RewFrew]

Actually you did great. Firstly You told him about Bitcoin. And secondly you told about risk. I think No only motivation need to educate about It's Risk. Otherwise you will be defolder in future.

On the another side you ahould advice him to learn More about Crypto currency and mainly learn about Bitcoin. Without proper knowledge anyone cannot get profit from Bitcoin. For investment in Bitcoin firstly need Proper knowledge About Bitcoin.

Overall i support your job. You did great job.

[nara1892]

I think you only mentioned the positive aspects of bitcoin investment to your friend which made him very interested in investing and he has already invested like $500. You should inform him that investing in Bitcoin is very risky and the money risk should be taken only by the person investing. If you mention when your friend has invested then maybe it would be easier for us to understand whether he is currently making profit or loss on his investment. Since your friend will not share the profit with you if he gains from the investment, you should make it clear to him that you are not responsible if he gets damaged by investing.

I think for the OP's thread this time he mentioned that the risk is clearly there even though it's not as clearly explained but the warning about the risk is still there.
But of course with that now it depends on the friend of the OP himself whether he really understands the risk itself or doesn't heed it because indeed when the warning is there and there is great interest then I think the friend from the OP will find out more about it.
But on the other hand, even though in this case it is very good, but for a beginner who doesn't really understand the conditions and immediately tries to invest $ 500 for the beginning, I think it really needs to be emphasized further and hopefully the OP understands the conditions because it is indirectly it becomes a solicitation when talking about bitcoin and our interlocutor is interested then the OP must also carry out conditions where he must try to remind more about this.

[Botnake]

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin.  
Did I give my friend the right advice?

I guess what he invested is quite big for an initial investment. Even if he has earned enough from his job, it's still advisable to only invest at an amount he can manage to lose. But that is his decision, I just hope he'll be responsible whatever losses he will incur in the future. Don't worry OP, you have done your part well. At least he knows the risk before he invest.

[Oilacris]

I think you only mentioned the positive aspects of bitcoin investment to your friend which made him very interested in investing and he has already invested like $500. You should inform him that investing in Bitcoin is very risky and the money risk should be taken only by the person investing. If you mention when your friend has invested then maybe it would be easier for us to understand whether he is currently making profit or loss on his investment. Since your friend will not share the profit with you if he gains from the investment, you should make it clear to him that you are not responsible if he gets damaged by investing.

Yes, it should really be balanced so that you wont really getting blamed on the time that the market would really be having some dip or correction on which it would be causing for his investment to deplete

down which as a noob then you would really be definitely be having those impulsive emotions which might be ending up on something about argue and quarrels in between just because you do give out those false hopes on making profits because you did really talk about only the positive and forgotten about its negative. Well he would definitely be finding out for himself about the reality on what
he had been dealing and be able to realize that this market isnt really only just for going upwards but rather it would really be a roller coaster ride of things.

Its always been that recommendable that it is really that better to explain about its pros and cons rather than on focusing that much when it comes into its pros because once
people would really be having that kind of trust and confidence because you did neglect out on telling the cons then most likely you would be blamed out later on.

[Games.Bitcoin]

Investing in Bitcoin can present both opportunities and risks. Your friend's investment in Bitcoin could potentially yield significant returns, given its historical price appreciation and the growing adoption of cryptocurrencies. Bitcoin's decentralized nature and limited supply make it an attractive investment asset, especially for those looking to diversify their portfolios. However, it's important to note that Bitcoin's value can be volatile, with frequent price fluctuations. Your friend should carefully consider their risk tolerance, conduct thorough research, and stay updated with market trends before making any investment decisions. It's also advisable to seek guidance from a financial advisor or explore educational resources to make informed investment choices.

[YUriy1991]

It is a good thing that you told your friend about bitcoin because it is only when you truly love someone that you show them the path to light and educating your friend about Bitcoin is giving him financial freedom. But I hope you gave your friend all the necessary information about Bitcoin investment such as:
1. Bitcoin is a digital coin.
2. It is a volatile asset and the price fluctuates.
3. Bitcoin is not a ponzi or a get rich quick money scheme.
4. Patience is of great importance to become a Bitcoin investor.

In my opinion, the Bd officer (OP) has done a good basic education effort, by trying to provide some correct advice in the form of relevant and educational assumptions for the theme when investing in crypto currency, in this case BTC. Good effort in my opinion.

Yes, it's true that from the 4 materials that you have conveyed, in my opinion it will be very easy for beginners to understand for us to explain because even if we convey it technically it can be confusing for the listener (audience).

[Magic-Money]

That is a good decision you're friend take, because life is about information and update not to left behind, because Bitcoin is a digital assets that we soon stone the world and government are afraid of Bitcoin, because it has all it takes to serve the world, assume I get opportunity or information 2009 or early stage, I for invest Bitcoin as well, which Bitcoin has raised billionaire in the cryptocurrency industries.

[Texac]

That is a good decision you're friend take, because life is about information and update not to left behind, because Bitcoin is a digital assets that we soon stone the world and government are afraid of Bitcoin, because it has all it takes to serve the world, assume I get opportunity or information 2009 or early stage, I for invest Bitcoin as well, which Bitcoin has raised billionaire in the cryptocurrency industries.

Would you definitely invest in bitcoin if you knew it in 2009?  many people have also claimed like you, but I doubt and do not believe it.  we often have the bad habit of regretting something when we know about its future and have missed it in the past. but if we have the opportunity to go back to the past and not remember what is in the present, we will also miss it again. If you say you will buy a lot of bitcoin in 2009, why don't you buy now and wait for the future? You don't have to go back to the past to buy bitcoin because it's even easier now than in 2009.

[GideonGono]

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin. 
Did I give my friend the right advice?

You mention how things could work out, that investing could give him a profit or a loss so you just opened a door for him, it is his own choice if he would go in or walk away from it.
The best thing that you could do now is to guide him on how to manage his investment.

[bitgolden]

In my opinion, both were too hasty when investing with simple advice. OP's friend didn't do any research and decided to invest in a hurry, even the investment amount is more than his salary, I'm really worried for him. As for the OP, he didn't stop his friend from investing, and after it was all over, he needed our advice. In that case, I will pass on what I know to my friend and help him learn all the basics of the market before he puts money into bitcoin. That way, not only will they not blame us, but it will also be better for his investment. Personally, I only invest when I have knowledge about it, not investing according to someone's advice.

I do the opposite for other people, I just do not give them any advice at all and it is not my place to do so, obviously I also do not invest based on anyone else's advice neither, not just people I know but also for influencers as well, I do not listen to any of them and just make my own investment.

But at the end of the day, we are not going to see them change much neither and that's why it's important to consider that the best thing we could do at the moment would be allowing ourselves to reach to a point where it is not going to really change anyone's mindset. So, if we suggest something then eventually they will do what they do, like we tell them to wait and they may panic sell, and we shouldn't take that responsibility with us, there is no way to risk it.

[Pandu Geddon]

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin. 
Did I give my friend the right advice?

You mention how things could work out, that investing could give him a profit or a loss so you just opened a door for him, it is his own choice if he would go in or walk away from it.
The best thing that you could do now is to guide him on how to manage his investment.

his friend who sees other people's success in investing in Bitcoin might look easy. and that is a motivation to be able to follow starting investing in Bitcoin will definitely happen. but also teach the risks, not only the success you get.
and most beginners are too hasty in starting. they rush to enter the market and buy assets. it wasn't long before they left disappointed because they felt cheated by the fast-moving market. make sure our friends really know how the crypto market works and also how we overcome it all.

[yohananaomi]

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin. 
Did I give my friend the right advice?

you have been right to educate your friend, because investing in crypto is a good thing and even better than other investments. at least now your friend understand more about investing in bitcoin by investing directly, maybe your friend can also understand more and want to learn about the pros and cons of investing in crypto, especially bitcoin.

if what you say is that your friend has invested $ 500 in bitcoin, of course, to also be informed that with small funds, it is more effective not to buy bitcoin but instead to altcoins. there are lots of good altcoins and it remains only to analyze at CMC so that they can adjust to the available funds. apart from really wanting to continue to add more capital so that you can continue to increase your funds, then obviously you can with bitcoin.

[blackened515]

Particularly at this time, investing $500 in bitcoin as a rookie is too. It is fine that you informed him about bitcoin, but you ought to have given him appropriate advice. There are many things that are lacking... He tried the Dollar Cost Average approach for what reason? What if he had only put down $50 as opposed to $500? Think about how he would react if his investment fell from $500 to $90 as opposed to $50 to $30. I hope my example makes my argument. Therefore, you still need to teach him.

Trading is dangerous, with an 80% chance of losing everything. The market does not always go as planned, which is why we should always be prepared for the worst. We should not be afraid to record a loss on our first trade. $500 can turned into $50 in less than an hour,  that's exclusively how the market operates.Giving crucial bitcoin information to a friend is extremely beneficial; it's what we call "we rise by lifting others." It's a nice feeling to know that your friend is making money online because to information you gave him.

[Lanatsa]

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin. 
Did I give my friend the right advice?

You mention how things could work out, that investing could give him a profit or a loss so you just opened a door for him, it is his own choice if he would go in or walk away from it.
The best thing that you could do now is to guide him on how to manage his investment.

his friend who sees other people's success in investing in Bitcoin might look easy. and that is a motivation to be able to follow starting investing in Bitcoin will definitely happen. but also teach the risks, not only the success you get.
and most beginners are too hasty in starting. they rush to enter the market and buy assets. it wasn't long before they left disappointed because they felt cheated by the fast-moving market. make sure our friends really know how the crypto market works and also how we overcome it all.

Most beginners would really be having this kind of common reaction on the time that they would hear out some money earning opportunity on which it would really be just that not shocking that they would be diving in without tending to know on whats the risks involved and as a friend then you should really be that mindful on telling about the risks and not re ally just only focusing about its pros.

We know that there are people who are really that making some suing later on on the time that they would be losing money. We know that relationships be wasted in speaking about money.
You know that there are people who  could really totally exchange that for money or once that problems would exist. This is why you should really be speaking about its pros
and cons so that on the time that the market would really be giving out some reds or declines then you wouldnt really be worrying yourself on getting sued or blamed out.

[Mate2237]

Op you really tried for telling your friend about bitcoin but before I understood what you were trying to convey there was not easy for me to understand them. Please read other people threads to learn how they structure and write their words. In this forum your will learn plenty things, and not only bitcoin and other Cryptocurrencies.
Your friend was also serious to learn the blockchain and that was why he learned fast and invest on his own.

[Vaculin]

One of my close friends his name is Naher. He came to visit my house. Once while discussing with him, I mentioned the name of bitcoin. He wanted to know what bitcoin is? I was telling him that bitcoin is a digital cryptocurrency coin launched in 2009 by a man named satoshi. I tell him Bitcoin has been around for 14 years. I give him more idea about Bitcoin. At one point he expressed his interest in investing in bitcoin, I told him that there is a possibility of not only profit but also loss from investment.To invest you have to take risk. My friend invests in bitcoin knowing profit loss. He works for a salary of about $400 per month. He invested about $500 in Bitcoins. I didn't show my friend interest in investing in bitcoin. He himself knowingly invested in bitcoin.  
Did I give my friend the right advice?

You have given him the right advice he needs to hear. Maybe it’s already his own decision to invest with quite a bigger amount knowing he earns only $400 a month. I just hope he is aware that he can lose all his capital if he makes a single wrong move in his investment. However, for sure he will also learn something if he will lose his money in this investment. After all, losing is inevitable, we just have to be more open minded about it not just for bitcoin investment but even in other investments existing in the market.