Educating unemployed friends about Bitcoin

[Findingnemo]

Investing in Bitcoin is highly risky when we expect short term returns so it makes not really suitable for someone who is not stable in their financial status. But if they have nothing to lose then why not give it a try cause trading can be started with less capital which makes its possible for everyone to start, so it can be a good thing to have side hustle and for people with huge capital it can become revenue generator with no effort at all.

For someone with nothing to lose, how would they invest or trade? I have never heard any miracle story that a person with no knowledge and no money can profit from trading. As far as I know to make money from trading, many people take a year or a few years of learning, accepting losses before they can make a profit. The idea of introducing bitcoin to the unemployed was already a bad idea, made worse by discouraging them from looking for income-generating jobs but instead directing them to trading. It's gambling, not investing.

You can't be so broke that you don't even able to hold a hundred or two and that's what I meant as nothing to lose situation. You know trading is simple because the secret of success is simple as buy low and sell high. As you said it may take years for someone to master but I remember the old days of mine made decent money straight away when I started without having any technical analysis skills just focusing on BTC to fiat and vice versa.

[naira]

Either this plan of yours will eventually work or it will be fleeting and then forgotten. Believe me theory is not as easy as practice in the field. For that how Bitcoin can give a job? because investment is not a job that is obtained for free. Everything has a price, it's realistic to even start investing, meaning don't half and half if you still need the money because a safe investment is allocating cold money.

I know your intentions are good, because in the past it was common for us to do this and in fact everyone has their own portion of their source of income, I can't force them to do what I do. Realizing that the interest in Bitcoin is not just hype, but it is an option not to be fleeting and then forgotten.

[summonerrk]

~~~

It is very noble to tell your friends about cryptocurrencies in the same bitcoin.
Just like you, my friend enlightened me on the topic of cryptocurrencies many years ago. Then bitcoin was worth about a hundred dollars. But then I didn't believe him in the success of biteoin.
Nevertheless, I am here, and I am grateful to my friends who worked on my understanding of the blockchain and how much it is a breakthrough technology.

You are doing a good deed, but always warn your friends about the risks that cryptocurrency carries. After all, this is a dangerous financial instrument.

[Minor Miner]

~~~

It is very noble to tell your friends about cryptocurrencies in the same bitcoin.
Just like you, my friend enlightened me on the topic of cryptocurrencies many years ago. Then bitcoin was worth about a hundred dollars. But then I didn't believe him in the success of biteoin.
Nevertheless, I am here, and I am grateful to my friends who worked on my understanding of the blockchain and how much it is a breakthrough technology.

You are doing a good deed, but always warn your friends about the risks that cryptocurrency carries. After all, this is a dangerous financial instrument.

His actions are good, he is trying to help his friends. But honestly, I don't think bitcoin is suitable for this situation because those 2 friends are unemployed, and we don't know what their life is like. As many others have also suggested, they need a job rather than focusing on investing in bitcoin with their savings. I don't know if OP thought of that situation. What if bitcoin investment is not profitable or will take a long time? We all know that the unemployed desperately need money, and they can't wait to get it, and it would be a terrible prospect for the OP's friends if the investment didn't go as they expected.

[mvdheuvel1983]

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.

I am not so sure about this but I wouldn't disagree because I don't know your area. But then until you have done a survey to measure the knowledge of bitcoin among people living in your area, I don't think you can categorically say that you are the only person in your area with a basic understanding about bitcoin.

The maximum number of friends I hang out with are unemployed. They are not uneducated they are all well educated in their respective positions but due to lack of adequate facilities they are unable to find any employment. When we walk together I talk to them about Bitcoin but they tell me that they have only heard about Bitcoin on various social media and they think that if anyone is involved in Bitcoin, the administration of our country will arrest them. Because it is through this kind of news that they are aware of Bitcoin. But when I tell them that I have a rough understanding of Bitcoin. Then they don't want to believe me when I tell them all about bitcoin they believe me. And I assure them if we all get involved in Bitcoin maybe our unemployment will go away. Because there are enough ways to earn money with Bitcoin.  

I have found that in my layman's thinking that there may be a correlation between bitcoin, unemployment among educated people and their willingness to invest in bitcoin. Folks who are employed may be too engrossed in their jobs to even think about bitcoin unless whatever their job is revolves around tech, economy and entrepreneurship.

It is a pity that your friend's first knowledge about bitcoin is as a negative portrayal by the government. Sadly, it is not exclusive to just them alone. Some of us heard about bitcoin when US government seized some bitcoins in silk trade or there about.  Furthermore, you do not have to persuade them to invest in bitcoin. Present it as a choice: Stay unemployed or take the risk that has the potential to give you money. Then allow them pick.

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.

Since your friends won't do any transactions in bitcoin other than hodling it in a cold storage wallet, they should be fine. Tell them that. You should also provide them with books and videos for them to improve their knowledge about bitcoin.

[Marykeller]

You advise friends to invest in bitcoin with their money even though doing so is entirely against the law in your country and they are unemployed. In light of the present price of bitcoin, how much money do you think they will be prepared to invest in it and how will they raise it? Keep in mind that because bitcoin is expensive, investing in it would require a substantial sum of cash.

I get that you want to encourage your friends to invest in bitcoin due to the forthcoming bull run and it has helped in building people's finances, but that is not a good enough justification to encourage jobless friends to do so in the hopes that their unemployment will go away. Just before your friends considering investing in bitcoin, they should get employment.  

[AicecreaME]

That's gonna be hard, because how would you convert your money into fiat again if Bitcoin is illegal in your country. I'd say moving out to another country is the key but it will be another problem since you guys are unemployed, and investing your savings in Bitcoin doesn't guarantee you an everyday profit because of its volatility.

I'd recommend invest your savings instead on a business, start one and make it big then move to another country where Bitcoin is legal if you guys really want to pursue it.

[bayudndy]

It is impossible to be certain that in the entire area where you live, there is only one person who knows or really understands bitcoin. If a country accepts bitcoin, at least the news media will talk about it a lot and spread it to the people. So really, I think I just don't want to talk about this because there are still a lot of people here who consider this to be a secret or job that they don't want the people around to know. Also, when it comes to bitcoin education for unemployed people, I think it's more of a risk than an opportunity because they don't have a financial background, and what they think now is how to get by. Once I know this type, I think it is no longer an asset and treat it as a form of get-rich-quick. This is really terrible when it comes to desperation or the desire to make a quick buck.

[Uruhara]

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?  

If in your country Bitcoin is really still illegal then I hope you don't have to bother showing yourself to the public surface by inviting lots of your friends. I'm actually more worried about you in such conditions. I hope you have to be more careful. I would prefer you only tell those who are interested and ask you directly.

And considering the condition that Bitcoin is still illegal in your country, I think actually you are not the only one who knows and has entered into bitcoin investment. But there may be many more. It's just that they prefer to remain invisible and maintain their own privacy about their involvement in bitcoin.

I personally never thought that in my hometown maybe not many people know about bitcoin. But apparently I was wrong. because in fact there are already many people around me who have entered into bitcoin investments. There are even those who actually entered much earlier or you could say he was one of the people who adopted bitcoin in the period several years after the launch of bitcoin. And in the end I have many acquaintances who have actually been involved in trading and investing in bitcoin. But in my country Bitcoin is legal as a commodity asset. So that's why bitcoin adoption in my country has a much faster increase.

But about making money from bitcoin I don't know exactly what you mean. is it to be a miner or do trading or just long term investment?

If you still want to teach your friends. so I hope you don't push them too hard. Give them the understanding you know. about the basic steps starting from how to store bitcoin safely. how is the decentralized system offered by bitcoin different from a centralized system such as fiat. and also tell about the risks and potential that bitcoin has. and many more things. but let them make their own decisions in peace and don't let them blame you one day.

[Mame89]

First of all, I also want to say that if bitcoin is used as a means of transaction, it is illegal, in my country it is the same way. because Bitcoin is indeed illegal if used as a transaction tool, let alone bitcoin, dollars and gold are illegal if used for transactions in my country. However, if it is used as an investment asset, it is permissible.

I know btc from 2022 but have never told or advised anyone including my family about "crypto", in fact if someone asks me to invest in stocks even though I myself have never played stocks. The reason is simple, I don't know how to explain crypto to ordinary people. unless he has read about bitcoin first, at least he knows the basics first, the concept and work of bitcoin. Because without him knowing it is very difficult to explain.

Because sometimes it's actually not confusing to explain it. But indeed their unwillingness to know what Bitcoin is. Already dozens of friends, relatives and relatives have been explained. But their ignorance leads to a fear of losing money. This is just my personal experience, but what you are doing is correct, at least you have said the positive and negative sides about bitcoin. The last thing I want to say Bitcoin investment is not a solution for unemployment.

[Smartvirus]

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.

I don't know what nation your from but, bitcoin isn't completely outlawed in many places. Yeah, there was a case of India but, they started collecting tax on it and I wondered what the case was. A host of nations merely ban for a time like it was in Nigeria but later revised the statement to have not been an outright or complete ban but, just some a statement that says, this currency isn't recognised or backed by any authority and its citizens should be mindful of its usage.
Still, the government are not always pleased with you having any crypto asset.

All that doesn't mean you shouldn't teach or create some awareness within a small circle if you must. You should do what you feel necessary but be mindful of the method and not create so much attention in doing that.

[carlfebz2]

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.

I don't know what nation your from but, bitcoin isn't completely outlawed in many places. Yeah, there was a case of India but, they started collecting tax on it and I wondered what the case was. A host of nations merely ban for a time like it was in Nigeria but later revised the statement to have not been an outright or complete ban but, just some a statement that says, this currency isn't recognised or backed by any authority and its citizens should be mindful of its usage.
Still, the government are not always pleased with you having any crypto asset.

All that doesn't mean you shouldn't teach or create some awareness within a small circle if you must. You should do what you feel necessary but be mindful of the method and not create so much attention in doing that.

Explaining it from a certain individual wouldnt really be that much of a problem as long you are really that aware on what are those government laws of your country but its true that whether its banned or not,
you could still possibly make those share ups considering that you could really just simply talk in a simple manner on explaining about on what it is, just make it sure that no one would be reporting or some sort
but its a personal kind of dealing on which it is something  that couldnt be traced up so easily. If you do have friends which its likely that they are really that getting interested with Bitcoin or crypto
then you could freely tell them on what it is, tell them about the basics and its opportunities.

The most important thing of all is that you shouldnt really make out that guarantees that it would be making out profits because if you do and on the time that you friends are really that losing
money, then pretty sure you would really be the ones who would really be blamed out and this is something that you should really be avoiding.

[Odusko]

Why do we always sound as if Bitcoin is outlawed globally and trying to convince people into accepting Bitcoin,  because even in the nations where Bitcoin is not made legal tender, citizens are still allowed to own Bitcoin as an asset or trade it on a p2p level, so with such information I think it is enough for Bitcoin to be self appealing to those who are seeking a better alternative to everything as regards to money and exchange.
So there is no need for serious follow-up with anyone to either learn or accept Bitcoin.

[CryptoBuds]

Investing in Bitcoin is highly risky when we expect short term returns so it makes not really suitable for someone who is not stable in their financial status. But if they have nothing to lose then why not give it a try cause trading can be started with less capital which makes its possible for everyone to start, so it can be a good thing to have side hustle and for people with huge capital it can become revenue generator with no effort at all.

For someone with nothing to lose, how would they invest or trade? I have never heard any miracle story that a person with no knowledge and no money can profit from trading. As far as I know to make money from trading, many people take a year or a few years of learning, accepting losses before they can make a profit. The idea of introducing bitcoin to the unemployed was already a bad idea, made worse by discouraging them from looking for income-generating jobs but instead directing them to trading. It's gambling, not investing.

You can't be so broke that you don't even able to hold a hundred or two and that's what I meant as nothing to lose situation. You know trading is simple because the secret of success is simple as buy low and sell high. As you said it may take years for someone to master but I remember the old days of mine made decent money straight away when I started without having any technical analysis skills just focusing on BTC to fiat and vice versa.

Did you get rich by trading without knowledge? And are you guiding and advising people to trade without knowledge? From what you said, trading is very simple, why is the win rate in trading so low, if not extremely low? I have seen many wealthy people, change their lives by holding for a long time, but really I have not seen anyone make a lot of money from trading with only a few hundred dollars and without knowledge.
If trading is so easy to make money, I advise all unemployed, homeless people to join the trade, and then they will make a decent amount of money. That way, they don't need to go to work or sleep on the street because money is easy to earn.

[bayu7adi]

Why do we always sound as if Bitcoin is outlawed globally and trying to convince people into accepting Bitcoin, .....

When Bitcoin has not yet received official recognition from the government as a digital asset, the general public remains largely unfamiliar with Bitcoin's deeper intricacies. Since Bitcoin is always tied to finance, it's not surprising that sensitive data becomes a hot topic of discussion. Additionally, for some individuals who have not fully grasped the concept of Bitcoin, they tend to be skeptical and apathetic because they believe their current jobs are more lucrative than bothering with Bitcoin.

IMO, the government is unable to grant official access to Bitcoin due to their desire to minimize potential mistakes. As we are aware, the volatile nature of Bitcoin prices can pose risks to the general public. The government has the responsibility to uphold their reputation as the highest governing body in a nation.

[Cryptmuster]

That's gonna be hard, because how would you convert your money into fiat again if Bitcoin is illegal in your country. I'd say moving out to another country is the key but it will be another problem since you guys are unemployed, and investing your savings in Bitcoin doesn't guarantee you an everyday profit because of its volatility.

I'd recommend invest your savings instead on a business, start one and make it big then move to another country where Bitcoin is legal if you guys really want to pursue it.

If you have a talent for doing business, then you can live in abundance anywhere in the world. I know people who earn a lot of money with the help of business, they have reached the level that they have everything they need and they don’t even think about dealing with cryptocurrencies. Bitcoin can give you a chance to earn something if you do everything right, but the same applies to the business, it is also able to bring a lot of money if you can organize everything properly.

[Smack That Ace]

That's gonna be hard, because how would you convert your money into fiat again if Bitcoin is illegal in your country. I'd say moving out to another country is the key but it will be another problem since you guys are unemployed, and investing your savings in Bitcoin doesn't guarantee you an everyday profit because of its volatility.

I'd recommend invest your savings instead on a business, start one and make it big then move to another country where Bitcoin is legal if you guys really want to pursue it.

I don't think anyone will have too much trouble investing or converting from bitcoin to fiat and vice versa. Because even countries ban bitcoin, exchanges can still be used normally without any problem. Moving abroad is not as simple as we are talking about, and it is not necessary just because of bitcoin that we have to move abroad and leave our loved ones and family behind.

But I agree with you, it is not advisable to invest in bitcoin with savings while we are unemployed. The unemployed need money for their daily needs, and bitcoin doesn't do that.

[xSkylarx]

That's gonna be hard, because how would you convert your money into fiat again if Bitcoin is illegal in your country. I'd say moving out to another country is the key but it will be another problem since you guys are unemployed, and investing your savings in Bitcoin doesn't guarantee you an everyday profit because of its volatility.

I'd recommend invest your savings instead on a business, start one and make it big then move to another country where Bitcoin is legal if you guys really want to pursue it.

If you have a talent for doing business, then you can live in abundance anywhere in the world. I know people who earn a lot of money with the help of business, they have reached the level that they have everything they need and they don’t even think about dealing with cryptocurrencies. Bitcoin can give you a chance to earn something if you do everything right, but the same applies to the business, it is also able to bring a lot of money if you can organize everything properly.

Talent is inborn, and not all of us have it, but that doesn't mean that you can't do business because business can be learned through knowledge and experience, and having a talent for it is a plus. That is why others are not good in business but are smart, which they learned over time and improved their business. It is just a matter of working hard and doing it smart.

[fuguebtc]

That's gonna be hard, because how would you convert your money into fiat again if Bitcoin is illegal in your country. I'd say moving out to another country is the key but it will be another problem since you guys are unemployed, and investing your savings in Bitcoin doesn't guarantee you an everyday profit because of its volatility.

I'd recommend invest your savings instead on a business, start one and make it big then move to another country where Bitcoin is legal if you guys really want to pursue it.

If you have a talent for doing business, then you can live in abundance anywhere in the world. I know people who earn a lot of money with the help of business, they have reached the level that they have everything they need and they don’t even think about dealing with cryptocurrencies. Bitcoin can give you a chance to earn something if you do everything right, but the same applies to the business, it is also able to bring a lot of money if you can organize everything properly.

It's true, cryptocurrencies are not the only way to make us a lot of money, to make us financially free. Many people are still living rich life without cryptocurrency. We need cryptocurrencies because we are willing to take risks to get rich quickly, but many people don't want to admit this fact.
Sometimes you don't need to have talent, you just need patience, effort, and hard work, you can also build your own business or start a business in any field you think has potential. Without those things, whether investing in bitcoin or going abroad to work, we will never succeed.

[Magic-Money]

That is a good one by sharing your knowledge to your friends in your area, because the world is changing and unemployment is increasing on yearly basis, in other words, Bitcoin has given many people job in one way or another, and you can only teach what you know in Bitcoin, because, Bitcoin has many function's, that is beyond investment. And is good to have the basics knowledge of Bitcoin and how it been trading in a platform.