Educating unemployed friends about Bitcoin

[cryptoWODL]

Op first of all thank you for taking a good initiative. No matter which country you live in you should follow the rules of that country. It's good that you informed your friends about Bitcoin but I would say since Bitcoin is illegal in your country you should not do it openly if administration people find out you may be punished. Now there are various social media and talk about Bitcoin. Many have YouTube channels that cover everything in detail about Bitcoin.

Since you know about Bitcoin and two of your friends have money to invest in Bitcoin, you two invest first. Then when your other friends learn and know Bitcoin encourage them to invest in Bitcoin. It is also not sure if your friends will accept Bitcoin investment easily because Bitcoin is illegal in your country, maybe they have administrative fear.

[1715461066]

1715461066

[CageMabok]

I never invite friends or advise friends, including close friends, about Bitcoin, in fact, if someone asks about investment, I direct them to gold and I also advise them to read for themselves about Bitcoin on the internet. After they understand a little, I teach them from the start, my reason is simple. I don't know how to explain Bitcoin to lay people who have never heard of Bitcoin.

So how did you learn about Bitcoin in the past, did you also read it yourself on the internet after hearing the words Bitcoin from other people's mouths before you really knew about it until now? Everyone will definitely ask people who already know Bitcoin if they already know someone who understands more about Bitcoin. And I think you have also asked other people about Bitcoin, even though you advise lay people who don't know about Bitcoin to look for it on the internet.

Even if I want to teach my friends about Bitcoin, I will make them curious and create curiosity. The easy way to explain it is with real things, buying a car, house, etc. from bitcoin profits. The problem is that people now still see the results that we explain, if there are no results, no one will believe them. This is what happens in my area, because many people are still unfamiliar with Bitcoin.

If you want to teach other people about Bitcoin or people who are still unfamiliar with Bitcoin in your own area, you should also teach them to appreciate the process of learning. Don't immediately give an example of buying a car, house, etc from Bitcoin profits, because this will not enable them to appreciate the process and it will be easier for them to forget about Bitcoin when they haven't gotten any results from Bitcoin. And imagine if the person who taught them still didn't have a car, house, etc from bitcoin profits, would they believe what that person said? I don't think so mate.

[jeha2015]

Even if I want to teach my friends about Bitcoin, I will make them curious and create curiosity. The easy way to explain it is with real things, buying a car, house, etc. from bitcoin profits. The problem is that people now still see the results that we explain, if there are no results, no one will believe them. This is what happens in my area, because many people are still unfamiliar with Bitcoin.

If you want to teach other people about Bitcoin or people who are still unfamiliar with Bitcoin in your own area, you should also teach them to appreciate the process of learning. Don't immediately give an example of buying a car, house, etc from Bitcoin profits, because this will not enable them to appreciate the process and it will be easier for them to forget about Bitcoin when they haven't gotten any results from Bitcoin. And imagine if the person who taught them still didn't have a car, house, etc from bitcoin profits, would they believe what that person said? I don't think so mate.

Agree. If you teach Bitcoin to lay people, you should not immediately talk about the profits you will get. But we also have to tell you about the risks that bitcoin has. Providing material examples like that actually makes them have too high an investment in Bitcoin so that when they don't get what they want, they will be disappointed.

The first time you need to introduce bitcoin to lay people is about Bitcoin, such as having to educate Bitcoin is a decentralized digital currency that was created in January 2009. Bitcoin was born following an idea created by Satoshi Nakamoto, a figure who is still mysterious to this day, and still no one knows Satoshi Nakamoto. know just disappeared after the emergence of Bitcoin and others.

Bitcoin is a type of crypto because it uses cryptography to keep it safe even though it is valued as a currency, but the physical form of Bitcoin itself does not exist, only the balance is stored on a public ledger that can be accessed by everyone transparently, and Bitcoin is built on a distributed digital record that called a block. Maybe they need to know the basics so they can be wiser in investing in Bitcoin and finally, after being taught everything, the decision is still up to them, don't force it.

[Z_MBFM]

That’s really great to hear mate. Educating people about Bitcoins is good and it will really help them to make a better investment plans. But I would suggest not to give them investment advice. Whether it’s Bitcoins or any other asset, never give investment advices. These friends who are praising you, will only make you responsible if there investment goes into losses. So keep yourself limited to educating only. Tell them about the benefits and decentralised nature of the coin. Rest they will figure out, what to do with these amazing coins.

sometimes being a good friend is quite difficult, especially when it comes to investment advice, it seems difficult, there are also some of my friends who ask me about bitcoin, but I only explain where they can get the most complete information about bitcoin, I also won't suggest them or tell them to invest in bitcoin because from my experience several years ago, I broke up with one of my friends because I advised him to buy bitcoin and invest in it, learning from that incident, I choose who I will teach about bitcoin, don't let the friend you are teaching it to be not mentally prepared for a bearish market, he will definitely immediately do something silly like selling at a loss.

Those who are not well aware of Bitcoin's history and who are not financially strong will never be able to control themselves during a bearish market and as a result they will immediately want to sell their Bitcoin even if they are at a loss. Such incidents happen a lot. If I speak for myself, I know enough about Bitcoin's past history, but I often panic when I see Bitcoin falling in price. This is because I am not financially strong enough and therefore I have less loss tolerance. and I think the same goes for others. But if the op can explain it well to his friend. and it is true that his friend will get good return if he can hold bitcoin for long term

Yup true you are explaining the truth. I agree with you that this could be a logical reason for our failure to hold long time. I also sometimes wonder why we fail to hold long time cryptocurrencies despite thousands of attempts. Although sometimes we are very motivated to hear the success stories of others.  But when we go to hold ourselves, we lose patience and that motivation no longer works in us.  And this may be due to our poor financial condition as you mentioned

And to add, I think bitcoin is not for everyone or for all your friends, especially if they are unemployed. You know that bitcoin is a long-term investment, so you will need quite a bit of funds to start with it. Whether you hold or trade, you will need to put some capital in it to survive because equity is important. And if your friend is unemployed, then it will be hard for them to invest in bitcoin as they don't have a source of income. I think it's better to help your unemployed friends land a decent job first. If they have sufficient funds, you can start to introduce them to bitcoin, or even if they are unemployed, you can teach them how to earn bitcoin, but don't let them engage right away. Help them first to have a job and enough funds to do so. In that way, they will be ready to balance the money.

Right,  When someone is unemployed and can't afford to meet his daily expenses, how can he invest in Bitcoin and hold it for a long time and who will provide his money? So holding Bitcoin is not possible for everyone. If it was that easy to hold and everyone could hold without selling, Bitcoin would have crossed the million dollar mark a long time ago. So suggesting an unemployed friend to hold bitcoins is not a logical suggestion. On the other hand, if he trades bitcoins, he will also need funds for this, but if he can collect funds through hard try or loans, there will be high risk and if he loses the money, it will put him in more danger. so instead of hoping to get an unemployed friend into Bitcoin, it would be more logical to arrange a job.

[LUCKMCFLY]

Gambling less I think is a good way to stay safe in gambling instead of constantly trying to be frequent and regularly playing gambling to make sure one wins his gambles. Though it's not a guarantee to be a successful gambler but it'll help regulate and control a person's emotions whenever he's betting. So gambling less is a good way of gambling.

Gambling doesn't mean you are safe from losing money. What if you gamble less, but the amount of money you place or bet is big, so if you lose, it will still have a big impact on you? The safest answer to this question is to stop gambling at all, not limit yourself, or have a good mindset and self-control. Just quit totally, and you will not lose any money. But I understand there are gamblers who can't just easily let go of gambling; they will still want to gamble at any cost. If that's the case, if you know that you can't make yourself stop gambling, then seek help, do rehabilitation, and such. Seek help from your friends and family so your attention will be directed to other things, like sports or another hobby that could make you forget gambling. If your goal is to earn, then find another means of earning.

It is true every time we play in a casino, we must be clear about something, that the money we put into a game, we can lose, in fact it is only Safer , so it is a money that has to be seen as willing to lose, because we have to get into the head of the person that that money is going to it, also allocate a budget that will not affect us in our daily expenses or something, that is, money that we allocate and that will not affect us. Does it matter if we lose it, secondly do we have to have auto-control? Yes, so as not to deposit more if that money is lost, because the rest would be something that can generate losses and more than money , many things can be lost if one falls into a possible addiction, a person who is clear about this at the time of taking In a casino you are ready to be able to play big, so when you are in a casino you Cannot imagine that we are going to become millionaires, it is not like that, this must also be kept clear.

When we are in the casino, if we play we must accept things, the rules of the game and not try to impose our rules, it can be done as long as the rules of the particular game are respected, at the time of playing it is not the person's decision if If you want to play with little money or with a lot of money, the question is that if you play with a lot of money the chances of having an eventual win decrease, if you play with little money, then the chances of winning increase but obviously the wins are not going to be very large, then that is a decision of the person.

If the player decides to play with little money, and wants to settle for the little money he wins, it is a good option, it is not about treating badly or what is wrong, it is a strategy, but if he does not win anything he cannot die either, always in The game has to be considered that the swan will always have the advantage at home, that we fight against that advantage and against the complexity of the game.

[adultcrypto]

Educating people about Bitcoin is a good idea because it will be beneficial to some people who may later accept it.

One thing I will love to encourage us to do while telling people about Bitcoin is to always tell them the truth. This will make them develop the right mindset towards Bitcoin and will solve a lot of their problems in this journey. They must know that Bitcoin is not a shortcut to wealth and that it requires time to yield profits.

But from your story, you said Bitcoin is illegal in your country. When something is illegal, meaning it is not allowed by the law, any person who goes against the law will surely face punishment set by law. So I will advise you not to go against the law of your country, and that is why I will not advise you to teach anyone about Bitcoin.

You have a valid point in this because he is already exposing his friends to risk which is punishable hy their laws. If any if his friend is caught and sent to jailed, he will be blamed for it.
To avoid that, it is better he stop and hope things can change with their laws regarding Bitcoin.

[coupable]

Out of all my friends two of my friends have some savings and when I told them about the investment they became very interested in investing but I didn't tell them only the positive aspects of the investment I told them the negative aspects. And I know the rest of my friends would also be interested in learning about Bitcoin but I just don't know how to start teaching them about it. Because bitcoin crypto currency is completely illegal in my country. So how can I help my friends in this regard?  

I find it good that you are thinking of helping your friends and saving them from the bitter reality of unemployment. It can be said that your friends are lucky to have you.
I almost share the majority's opinions regarding providing ideas to help you, and I will add simple details:
- Investing in Bitcoin is considered one of the safest and simplest options that does not require much knowledge of the basics in the beginning. But it always remains a type of gambling if the investor is looking for short-term profits, which is never guaranteed.
The best way is to educate them about Bitcoin and its working mechanisms so that they can use it to launch their businesses. Bitcoin provides a payment system as well as having the characteristics of an exchange currency.
- Why don't you offer them this forum and invite them to be permanently present here among us? I think this is the best you can offer them at their current stage as beginners.

[OgNasty]

I think it would be dangerous to fill an unemployed person’s mind with the idea they can throw their life savings into Bitcoin and they’ll get rich. If they’re unemployed they probably have bigger needs than investing. Rather, the employed friend with funds they can invest would be the better choice as they are in a position to act on the knowledge responsibly.

[GigaBit]

Your government made BTC illegal. You don't want them to blame you once the authorities caught them. Only way they can hide it is if they know how to use tools for anonymity which is another lecture to do but you can't be sure how careless they may be.

They are unemployed and my guess is that they don't have something to invest. This should be the first to solve first, its a long way but one at a time before introducing them to BTC.

If I were OP, I wouldn't recommend my friends invest in bitcoin because they need a steady source of income right now, and bitcoin can't help them do that. How can someone without a job invest in bitcoin? The savings will also be exhausted if we use it and don't have any additional sources. Not to mention the investment is very risky, there is no guarantee they will be profitable and out of unemployment.
OP, moreover, it's not wise to give investment advice to others. Have you ever thought if the investment fails, what will happen to your friendship after that?

How can friends invest in Bitcoin if they don't have enough money? For this we may not be able to advise anyone to arrange money but if one knows about the potential of Bitcoin and after knowing it, surely many people will show interest in investing in Bitcoin. How they manage money is up to them. Because not everyone will be successful, those who will try to do something at all costs can benefit from Bitcoin. As a friend, if we think in terms of responsibility towards other friends, then we should also inform our friends about Bitcoin. Maybe they will come to know about Bitcoin through somebody maybe a bit late so if they are informed about it in advance then surely they will benefit.

[danadc]

I have spoken many times with friends about this, and I have neighbors who are older adults and it is difficult with them to reach a consensus about bitcoin because they faithfully believe in banks and their methods of making money with interest. , but to the younger ones who are my age, it is different because they want to make a lot of money, I told them that making money that quickly is difficult but there is an option that is very good if they are lucky enough, that is to buy bitcoin and wait for the price to rise, what is not known is how the price can be raised, but there are many analyzes that make us give an idea, I tell you that by the end of 2024 they may have the profits, but it is difficult to convince them, some They bought, others didn't buy for nothing, but when it goes up a lot I'm sure they will buy there, because that's how people are.

[bitterguy28]

First of all I am the only person in my area who has a basic understanding of Bitcoin. That is, in the region where I live, no one but me knows about Bitcoin.

or maybe that is what  you only know ? I remember back in 2020 that I believe in My office I am the only one that know and understand bitcoin , or I am the only one that invested in this.

not until one day that I heard 2 of my co worker talking about their investment and even saw their Binance APPs checking their funds. I was shocked and when I approached them? we all laugh because same thing that they think they are the only 2 that has bitcoin in wallet.

Out of all my friends two of my friends have some savings and when I told them about the investment they became very interested in investing but I didn't tell them only the positive aspects of the investment I told them the negative aspects. And I know the rest of my friends would also be interested in learning about Bitcoin but I just don't know how to start teaching them about it. Because bitcoin crypto currency is completely illegal in my country. So how can I help my friends in this regard?  

Hope you guys can give me proper feedback on this and help me move forward in helping them.

this is the only problem here that your country banned bitcoin , so it is really hard to talk about others because you might end being inside the jain.
Hope that your friends will not betray you in authorities because you are in big trouble here.

[JunaidAzizi]

or maybe that is what  you only know ? I remember back in 2020 that I believe in My office I am the only one that know and understand bitcoin , or I am the only one that invested in this.
not until one day that I heard 2 of my co worker talking about their investment and even saw their Binance APPs checking their funds. I was shocked and when I approached them? we all laugh because same thing that they think they are the only 2 that has bitcoin in wallet.

Haha sometimes we consider ourselves the master of that thing but when we approach others we get shocked because they doing the same thing and interesting thing is they also get shocked when hearing that we also do the same , but this is not any bad things we don't need to be jealous of others they are doing their efforts and we do for ourselves.

this is the only problem here that your country banned bitcoin, so it is really hard to talk about others because you might end up being inside the Jain.
Hope that your friends will not betray you in the authorities because you are in big trouble here.

This is the important point you mentioned to the OP. Mostly when you raise your friend from a place where they don't see any route and you help them put them out and give them a bright future but when they reach the level and see your positions and your assets they feel jealous and they know most of the things about you as a friend they trying to down you and for that, they doing anything so be careful from this type of friends and identify who is your well-wisher and who is not.

[Rabata]

I know that you really want to help your friends to become financially independent but I have to tell you this OP, it's illegal in your country so you're better off saving yourself first because you would never know if your friends will point finger on you if they get caught being involved in bitcoin, of course you can educate them but I don't think it's your prerogative to teach them access or buying bitcoin lest they get caught. I don't know if you've started already teaching them more complex stuff but if not yet, I implore you to tread lightly if possible because as noble as your intentions are, you better take care of yourself first.

Choose to teach friends who you trust and who will not have any problem for teaching. Who will obey your suggestion as you say. After giving a good idea to the friends who don't know about Bitcoin at first and select some of your friends who are interested, I think only those friends can be worthy to taught basic to advanced level about Bitcoin. In countries where Bitcoin is not legal, there could be legal complications if the teaching about Bitcoin is revealed. So teach someone about Bitcoin in a way where you can be completely safe. Currently, almost every country in the world has more or less use of Bitcoin, so there is less and more discussion about Bitcoin everywhere. We know that lots of people know about Bitcoin now than before. Therefore, the environment to inform about Bitcoin is now much easier than before.

[zaim7413]

People like this need to be educated so they don't misunderstand the meaning of Bitcoin. This is not your responsibility, but as a friend you certainly don't want to see your friends continue to be in the position they are in now. Teach them, instill an understanding of Bitcoin in their minds, you will feel proud when they succeed in getting their first Bitcoin or become successful investors in the future. Their status as unemployed can change when you teach the basics of Bitcoin, you can introduce Bitcoin slowly, I am very optimistic that they will follow in your footsteps, especially so far you have benefited a lot from Bitcoin.

[Humblevirus]

I don't know the population of your area, but it's really funny to conclude that you are the only person in your area who has a basic knowledge of Bitcoin. I can't argue that, but I want you to know that there may be some people who have better knowledge of Bitcoin and cryptocurrency in general than you, but they are just silent because it is illegal in your country. In fact, I know of someone who has good knowledge about Bitcoin and cryptocurrency in general. In short, it is a good big Bitcoin investor and trader, but it never shows up aware of it, even though many people bragging about their knowledge of Bitcoin.this guy secret was reviewed that it know much about Bitcoin when one of it friend visited him in his house, and it was cut while doing some technical analysis about trading when It was about to enter the period market. So know that not all people will actually show up to say they know something or are involved in certain things unless someone is so close to them because of their security purposes.

[lixer]

That’s really great to hear mate. Educating people about Bitcoins is good and it will really help them to make a better investment plans. But I would suggest not to give them investment advice. Whether it’s Bitcoins or any other asset, never give investment advices. These friends who are praising you, will only make you responsible if there investment goes into losses. So keep yourself limited to educating only. Tell them about the benefits and decentralised nature of the coin. Rest they will figure out, what to do with these amazing coins.

For me, I don't like to discuss anything to my friends because when money involves, I considered it as a confidential matter. just like what you've said, those friends who are praising you will only make you responsible if their investments fail. It's better to introduce it first then let them make their own research and study so they can learn it from their own and to avoid the blame in the end. Not because I don't want to teach them every details, doesn't mean I am being mean and selfish. I don't want to spoon-feed them.

I agree with that. One should only educate someone about Bitcoin and cryptocurrencies if someone asks them upfront because that will not let them put any blame on the guy in case they make a decision to invest and then lose money, and the person who educates them should let them know in advance the amount of risks cryptocurrency investments carry even though Bitcoin's risk is a bit lower since it is the most trusted and safe cryptocurrency in the market.

Spoon-feeding someone everything and also making them make investments might be bad for you later on because such people often blame those who get them through every process, once they lose some money, they will not hesitate before saying that you were the one who made them invest in cryptocurrencies.

[Blitzboy]

I know that you really want to help your friends to become financially independent but I have to tell you this OP, it's illegal in your country so you're better off saving yourself first because you would never know if your friends will point finger on you if they get caught being involved in bitcoin, of course you can educate them but I don't think it's your prerogative to teach them access or buying bitcoin lest they get caught. I don't know if you've started already teaching them more complex stuff but if not yet, I implore you to tread lightly if possible because as noble as your intentions are, you better take care of yourself first.

Choose to teach friends who you trust and who will not have any problem for teaching. Who will obey your suggestion as you say. After giving a good idea to the friends who don't know about Bitcoin at first and select some of your friends who are interested, I think only those friends can be worthy to taught basic to advanced level about Bitcoin. In countries where Bitcoin is not legal, there could be legal complications if the teaching about Bitcoin is revealed. So teach someone about Bitcoin in a way where you can be completely safe. Currently, almost every country in the world has more or less use of Bitcoin, so there is less and more discussion about Bitcoin everywhere. We know that lots of people know about Bitcoin now than before. Therefore, the environment to inform about Bitcoin is now much easier than before.

In fact, a lot has changed in terms of how people know about Bitcoin. But what you said about choosing a trustworthy group to learn Bitcoin is very important. In an age where information is a powerful weapon, one must choose the wielders wisely. Teaching people who are genuinely interested not only makes the lessons more effective, but it also cuts down on wasted time and effort. But keep in mind that being curious and trustworthy dont always go together.

Lets talk about the big problem that nobody wants to talk about: how Bitcoin affects the law in some places. Even though the world is changing, the looming shadows of legal consequences still hang over some areas. Safety first - always. Its not enough to just teach; you have to teach smartly too. Be careful as you go through these dangerous areas, and make sure that every lesson and talk doesnt come back to haunt you.

[jasonjm]

Hope you guys can give me proper feedback on this and help me move forward in helping them.

Educating your friends about Bitcoin is a good thing, and you are doing a good job by giving in-depth knowledge about Bitcoin. I think you should not get involved in a thing if it is illegal in your country, and should not encourage your friend to invest. I am sure your friends are from a good educational background, and it is important for them to try and get a job in their respective field to get more success; they can do forum posting or bitcoin investment as a part-time option.
Bitcoin investment cannot guarantee a good ROI if you are not holding for the long term, and your friend's problem is to get money in the short term to fight unemployment. Encourage them to get a minimal-paying job or an internship in the field and learn some skills because they can do wonders in their respective fields. Who knows?  
If you are asking them to invest money in Bitcoin, don't do this because if they lose their money -by any chance- they will blame you for their loss, so let them do whatever they want to do with their money.

[blockman]

I have spoken many times with friends about this, and I have neighbors who are older adults and it is difficult with them to reach a consensus about bitcoin because they faithfully believe in banks and their methods of making money with interest. , but to the younger ones who are my age, it is different because they want to make a lot of money, I told them that making money that quickly is difficult but there is an option that is very good if they are lucky enough, that is to buy bitcoin and wait for the price to rise, what is not known is how the price can be raised, but there are many analyzes that make us give an idea, I tell you that by the end of 2024 they may have the profits, but it is difficult to convince them, some They bought, others didn't buy for nothing, but when it goes up a lot I'm sure they will buy there, because that's how people are.

With the older generations, they can't understand what Bitcoin is and you're only going to spend your time and voice talking to them into waste. Because that's what they have been believing that it's only best for them to get into the traditional investments and banks for them to trust with their money. The rise of Bitcoin is known mostly to the younger generations and that is because they're more with the technology and gadgets so it probably just came through their feed and buzz them with their curiosity to understand what Bitcoin is all about. I'm done into that point of convincing friends and relatives about Bitcoin.

[bakasabo]

I would be very cautious with educating people about bitcoin or cryptocurrency, as there is a tendency of becoming their enemy Nr.1 if their investment fails or things goes not as they have planned. I would never be first to talk about Bitcoin and offer help, only if person asks it first. I dont want to impose things, as I dont want to be responsible for decisions people make after. Just operate with a knowledge about their unemployment. As they might see in crypto a solution against unemployment, and with 50/50 probability might worsen situation.