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Author Topic: presuring someone into Bitcoin investment  (Read 1150 times)
Smartgoat (OP)
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August 27, 2023, 05:45:53 AM
 #1

I can remember some years ago, I talked to my mother about Bitcoin and investing on it. that was two years ago. she should use any amount she could use as a trial, but she rejected the idea of investing on Bitcoin. she thought I'was going to defraud her.because she never hard about Bitcoin investment before. because of that, she was afraid and rejected the idea because of the pressure I was giving to her to invest on Bitcoin. before then, I have told her the benefits of investing on Bitcoin, but she rejected everything. afterwards I never bring up the discussion again to her.

some months ago my mother called me that she now have interest on investing on Bitcoin with some amount of money, I ask her what happened!  I thought she rejected the idea when I introduce it to her some years ago, and it have been long we talked about it. she said to me, I have make some research and ask questions about Bitcoin after all my mother invested huge amount of money $5k on Bitcoin which she's benefiting from it today.

there was a lesson I lean from here. when you are preaching to someone about Bitcoin, you shouldn't talk too much, and you shouldn't stay long and you should also allow them make some research and ask questions about what we are preaching to them, to avoid loss at the end.

I don't know, how you see it.
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August 27, 2023, 06:02:01 AM
 #2

Two years ago when you asked your mom to invest, price was at $47k. Not sure if you would have safely exited at $60k or not, if not, you will be today at a 50-55% unclaimed loss.
In my honest opinion, you should never force anyone to invest in any thing. be it crypto or be it any asset in the world. Also, do not invest more than what you can't afford to lose.
And you yourself should do some research and always try to find out negatives more instead of just false hope.
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August 27, 2023, 07:00:31 AM
 #3

You have just answered to your question in your ending paragraphs. Don't pressurize, persuade or force anyone to Bitcoin, not even a family member. Our ability to take on risks is different. Bitcoin also needs consistency and understanding. It also needs deliberate decision making process. Like everyother business, Bitcoin has its risks that everyone investing in it must be ready to face including your mom.

However, introduce the person to books, articles and researches that x-ray the Bitcoin technology then allow the person makes their choices.

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August 27, 2023, 07:11:00 AM
 #4

(....)
there was a lesson I lean from here. when you are preaching to someone about Bitcoin, you shouldn't talk too much, and you shouldn't stay long and you should also allow them make some research and ask questions about what we are preaching to them, to avoid loss at the end.
This is a must of course. Always have a disclaimer, and always tell them the down side, or the negative side. It's not easy money, so it is always much better to let them decide at the end of the day.
Because for me, if someone asks me about Bitcoin, I explain what is Bitcoin, what is good and bad when yo invest it, how it works, etc. Just don't promise them  everything.

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CageMabok
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August 27, 2023, 07:38:25 AM
 #5

I can remember some years ago, I talked to my mother about Bitcoin and investing on it. that was two years ago. she should use any amount she could use as a trial, but she rejected the idea of investing on Bitcoin. she thought I'was going to defraud her.because she never hard about Bitcoin investment before. because of that, she was afraid and rejected the idea because of the pressure I was giving to her to invest on Bitcoin. before then, I have told her the benefits of investing on Bitcoin, but she rejected everything. afterwards I never bring up the discussion again to her.
The refusal made by your own mother to your invitation to invest in Bitcoin is an effort that is not wrong at all mate, because besides your own mother who still doesn't know what Bitcoin is, she also has never made that kind of investment in her life so she prefers to refuse. your invitation even though you are his own child. And I think your mother has done a pretty wise thing by rejecting your invitation even though you have explained to her quite fully about Bitcoin. Because maybe after your mother heard about Bitcoin through her own children, she should take the time to find out about Bitcoin herself through the people she knows around her and through the internet or other supportive environments.

Quote
some months ago my mother called me that she now have interest on investing on Bitcoin with some amount of money, I ask her what happened!  I thought she rejected the idea when I introduce it to her some years ago, and it have been long we talked about it. she said to me, I have make some research and ask questions about Bitcoin after all my mother invested huge amount of money $5k on Bitcoin which she's benefiting from it today.
This means that after several years, your mother finally believes in Bitcoin and immediately makes the decision to invest in Bitcoin. This is indeed a bit of influence and encouragement from the research and questions he asked other people about Bitcoin so that he started to become enlightened about things related to Bitcoin. That's a pretty wise decision and it doesn't mean your mother didn't believe you before because she just wants to have time to find out for herself what you've told her through other people.

Quote
there was a lesson I lean from here. when you are preaching to someone about Bitcoin, you shouldn't talk too much, and you shouldn't stay long and you should also allow them make some research and ask questions about what we are preaching to them, to avoid loss at the end.
That is indeed a very extraordinary lesson in your life and also your own mother, because she was able to arrive at a very good belief after hearing a lecture from her own child. And another lesson I can learn from your story is don't immediately tell other people to invest in Bitcoin after we explain more about Bitcoin to other people, because basically everyone needs time to believe, to understand and to make decisions in their life. on what he already knows from other people or his own relatives. Because when someone has started to believe in what we said before, he will look for ways to be able to invest in what we have said or suggested before.

Quote
I don't know, how you see it.
I see this as a story that I have never come across in my life before.

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August 27, 2023, 07:45:35 AM
 #6

I can remember some years ago, I talked to my mother about Bitcoin and investing on it. that was two years ago. <...>because of that, she was afraid and rejected the idea because of the pressure I was giving to her to invest on Bitcoin.

some months ago my mother called me that she now have interest on investing on Bitcoin with some amount of money, I ask her what happened!  I thought she rejected the idea when I introduce it to her some years ago, and it have been long we talked about it. she said to me, I have make some research and ask questions about Bitcoin after all my mother invested huge amount of money $5k on Bitcoin which she's benefiting from it today.

<...>

I don't know, how you see it.

To begin with, I doubt whether you made up that story, but since I can't verify it, I'll give you the benefit of the doubt. Pressuring people to invest in anything tends to backfire badly, and even worse if they are family members. If they make money they will think they were right to invest in it and if they lose money they will blame you.

The worst part of your story is that you only focus on whether the price goes up or down, not on the real good things about bitcoin, like not being dependent on third parties to hold it or send it to the other side of the planet.

And what makes the possible veracity of your story very weak is that you say she invested a few months ago and is now enjoying the benefits. The price in recent months has been flat or even falling.

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August 27, 2023, 07:45:54 AM
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 #7

Don't force anyone to invest in anything; don't even pressure them, no matter the relationship you have with them, if they say no. Respect their decision as it will be in your best interest, because convincing someone to do what they don't plan on doing might get you into some unexpected trouble, and it can end up jeopardising your relationship and closeness with them as they might likely ask you to pay for any loss that's being incurred as a result of the price dump in the investment you made them make.

some months ago my mother called me that she now have interest on investing on Bitcoin with some amount of money, I ask her what happened!  I thought she rejected the idea when I introduce it to her some years ago, and it have been long we talked about it. she said to me, I have make some research and ask questions about Bitcoin after all my mother invested huge amount of money $5k on Bitcoin which she's benefiting from it today.
 
Your mom invested $5,000 in Bitcoin a few months ago. I don't think it's enough time for her to already start enjoying her investment proceeds as the price of Bitcoin has not really been doing too well over the past few months. If it's to be calculated very well, she might likely still be losing some figures out of her invested amount. And how has she been enjoying it? Has she been making some kind of withdrawal every time? I think she will enjoy her investment more if she can hold on to it for a longer time until the next bull run comes.

R


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August 27, 2023, 08:09:54 AM
 #8

Instead of pressuring someone you care about, give it to them if you want them to own Bitcoin. I did that a few times, but stopped for OPSEC reasons.

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August 27, 2023, 08:46:45 AM
 #9

I can remember some years ago, I talked to my mother about Bitcoin and investing on it. that was two years ago. she should use any amount she could use as a trial, but she rejected the idea of investing on Bitcoin. she thought I'was going to defraud her.because she never hard about Bitcoin investment before. because of that, she was afraid and rejected the idea because of the pressure I was giving to her to invest on Bitcoin. before then, I have told her the benefits of investing on Bitcoin, but she rejected everything. afterwards I never bring up the discussion again to her.

some months ago my mother called me that she now have interest on investing on Bitcoin with some amount of money, I ask her what happened!  I thought she rejected the idea when I introduce it to her some years ago, and it have been long we talked about it. she said to me, I have make some research and ask questions about Bitcoin after all my mother invested huge amount of money $5k on Bitcoin which she's benefiting from it today.

there was a lesson I lean from here. when you are preaching to someone about Bitcoin, you shouldn't talk too much, and you shouldn't stay long and you should also allow them make some research and ask questions about what we are preaching to them, to avoid loss at the end.

I don't know, how you see it.

Not only investing in bitcoin, in life we should not force someone to do something they don't like or understand at all. Because maybe that doesn't work for them or we'll be the ones to blame if things don't go as we expected.

Like me, my parents both know I invest in bitcoin and they also know that I make a lot of money from it. But they never wanted to invest in it and I never forced them. They are safe, risk-averse people, so there's no reason for me to force them to follow my lead. Try to put the case where you are forced by others, how uncomfortable you will feel.

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August 27, 2023, 08:53:18 AM
 #10

Is a good thing you talked to your  mom about bitcoin and investing in bitcoin, I can relate to the fact that she jettison the idea those first years you brought it to her. Maybe over the years, she has maybe seen or gotten some proof of the that fact that, you where right at some point, so the need to invest now, so she can benefit years to come.
But I'm a bit skeptical about the fact that, she invested $5k some months back, and she's already benefiting from her investment already, we both know the price on Bitcoin has been on a down trend for the past months, so but then I can't really tell the kind of investment she did, but it's all good she has started to enjoying her investment.

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August 27, 2023, 08:55:44 AM
 #11

(....)
there was a lesson I lean from here. when you are preaching to someone about Bitcoin, you shouldn't talk too much, and you shouldn't stay long and you should also allow them make some research and ask questions about what we are preaching to them, to avoid loss at the end.
This is a must of course. Always have a disclaimer, and always tell them the down side, or the negative side. It's not easy money, so it is always much better to let them decide at the end of the day.
Because for me, if someone asks me about Bitcoin, I explain what is Bitcoin, what is good and bad when yo invest it, how it works, etc. Just don't promise them  everything.
There is no easy money, and if they offer easy money, then this is probably a scam and you will lose your money instead of increasing it. This is probably what repels people and makes them doubt when we tell them about bitcoin. In fact, this is a normal reaction in people, because we have all heard about ponzi schemes and pyramid schemes and what it leads to. And when we start talking about bitcoin as a way to increase your wealth, this involuntarily creates an analogy with a scam in their minds. Therefore, you don't need to put pressure on talling about btc and you need to do it very delicately, that the person himself made his own decision, of course, warning him of the possible risks and disadvantages associated with investing in bitcoin. The time will come, they will return to you, like a OP's mother Vasya will be asked to tell about BTC in more detail.

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August 27, 2023, 09:00:44 AM
 #12

I don't know, how you see it.
It also depends on your reputation. In my family, I told my people to invest and some did. If your parent are the ones taking care of you, they may not believe some things that you tell them. But if you are giving them money sometimes and also they know you have your own money, especially if you earn from bitcoin related businesses, they will believe you.

What I just always tell them is the pros and cons of investing in bitcoin. I told my mother about it and I let her know how she can make profit or lose instead and I let her understood the calculation. She invested.

What that is more important is to let them also know the short term cons. There are some people that their family believe what he or she tells them. And some people may not just be trusted if their parents are the one feeding them or due to what that have happened in the past.

Two years ago when you asked your mom to invest, price was at $47k. Not sure if you would have safely exited at $60k or not, if not, you will be today at a 50-55% unclaimed loss.
But bitcoin plummeted below $30000 several times in 2021 as well. It all depends on the time the person invested.

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August 27, 2023, 09:40:37 AM
 #13

-snip-
there was a lesson I lean from here. when you are preaching to someone about Bitcoin, you shouldn't talk too much, and you shouldn't stay long and you should also allow them make some research and ask questions about what we are preaching to them, to avoid loss at the end.
The method of convincing a person is different. There are many theories written in books about how to convey and convince others of the targets we want to achieve. In practice, it's up to us. Furthermore, there are two sides of the answer that we will meet after efforts to convey something have been made, namely rejection and acceptance.
Both (rejection and approval/acceptance) are reactions that are born as a result of a conscious process and that is as natural as your mother's refusal to choose to refuse after you told her to be willing to use her money to invest in bitcoin.

Always remember that conveying something that contains risk must be explained thoroughly both positive and negative and never hope that after trying to convey something to others, they must accept and agree with it. Next, let his mind work in making his choice.

R


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August 27, 2023, 10:08:16 AM
 #14


there was a lesson I lean from here. when you are preaching to someone about Bitcoin, you shouldn't talk too much, and you shouldn't stay long and you should also allow them make some research and ask questions about what we are preaching to them, to avoid loss at the end.

I don't know, how you see it.
It also depends on the relationship between you and the person you are introducing bitcoin to and how they see or value you in their own lives. Make sure you do not force anyone to invest in bitcoin; you just have to make sure you explain all you want them to know about bitcoin, tell them the risks associated with bitcoin investment, and also tell them the volatility of bitcoin price and the market ups and downs, then allow them to do their own research before making a decision.

R


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Despairo
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August 27, 2023, 10:11:18 AM
 #15

she said to me, I have make some research and ask questions about Bitcoin after all my mother invested huge amount of money $5k on Bitcoin which she's benefiting from it today.

there was a lesson I lean from here. when you are preaching to someone about Bitcoin, you shouldn't talk too much, and you shouldn't stay long and you should also allow them make some research and ask questions about what we are preaching to them, to avoid loss at the end.
This is odd, definitely your advice are correct but your story are different from your advice.

Your mother did invest in Bitcoin without let you know, she was greedy to invest big amount of money, it's good if she's making profit, if not? she might blame you or the other person she did ask questions about Bitcoin.

No one should pressure someone to invest in Bitcoin because Bitcoin isn't the only one asset that can be used as an investment.
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August 27, 2023, 10:12:20 AM
 #16

Or don't tell anyone to invest in anything. You just now have bragging points just because of hindsight as we can already see the results. What if you ended up being wrong? Now you might have your mother and potentially other family members against you because you were pushing your mom to invest in something and you ended up being wrong.

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August 27, 2023, 10:22:38 AM
 #17

It may be different in other families, but for me, my mother is still my family. To agitate your mother to invest, realizing that she has very little knowledge about Bitcoin, is tantamount to fraud. For your mother, you can buy and give her Bitcoin, telling her all the details of storing and handling it, at first taking full responsibility.
The same applies to all other people. I would not start with colorful descriptions of people who have made a profit, but with those who have lost everything and parsing their mistakes.

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August 27, 2023, 10:36:27 AM
 #18

As the saying goes, "You can lead a horse to water, but you cant make it drink." Even our closest friends and family members cannot be forced to board the Bitcoin train if they are not ready. Like many other people, your mother required some alone time before boarding.

However, in reality, there is a lot of FOMO  surrounding Bitcoin. She came around thanks to your persistence and her own investigation. She's currently rolling in Bitcoin dough, just look at her.

But I must say, my friend, that having patience is a virtue. Regarding not putting too much pressure on others, you're dead on. Let people research Bitcoin on their own, and if it makes sense for them, they'll change their minds. Keep up the good work, and may your cryptocurrency dreams come true.

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August 27, 2023, 10:43:16 AM
 #19

Investing like this is based on emotions, and it is often when the price is high, so you find people optimistic about the price and that it will reach 100,000, but this will not happen while they refuse to buy now on the pretext that the price is very far from expectations.

Do not advise anyone to invest just because you think the price will increase, and do not try to convince anyone to invest in the hope of getting rich. Investment is based on planning and knowing when to invest, why to invest and when to sell, otherwise your dreams may turn into nightmares.
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August 27, 2023, 11:18:38 AM
 #20

some months ago my mother called me that she now have interest on investing on Bitcoin with some amount of money, I ask her what happened!  I thought she rejected the idea when I introduce it to her some years ago, and it have been long we talked about it. she said to me, I have make some research and ask questions about Bitcoin after all my mother invested huge amount of money $5k on Bitcoin which she's benefiting from it today.
Basically I have the belief that your mother did not get complete information about bitcoin, so there are still doubts in her heart to invest and so on that is faced by many people regarding doubts about bitcoin. If we live in a country that is not friendly with bitcoin it will be much more difficult to introduce it and even the level of technological progress also indicates how far someone has known bitcoin before. So there is a little picture that they get before we introduce bitcoin to him and I see that bitcoin does not need to be introduced in the investment system first but rather provides education about its journey from the beginning until now.

there was a lesson I lean from here. when you are preaching to someone about Bitcoin, you shouldn't talk too much, and you shouldn't stay long and you should also allow them make some research and ask questions about what we are preaching to them, to avoid loss at the end.
The approach taken must indeed be adjusted depending on how a person's character is and provide space for them to find out what their abilities are, strengths and risks in bitcoin that must be avoided. Forcing and pressing will not work and maybe you have the answer now. You have much bigger responsibilities and if your mother is not given an understanding of price fluctuations then in the future it will cause problems even though the initial investment that your mother made was small.

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