Advice to friend for financial improvement.

[barisbilgili]

It is fine sharing your knowledge but never decide for their sake ‘coz if anything happens, you’d be the one to blame. This is an undending topic; needs va wants. Ofcourse it would be better to invest but problem is that we have different perspectives of how we would spend our money. Some are really prioritizing their wants such as new phones but that’s how their hardwork would be relieved; allow them. Simply give them an insight or an alternative way to spend their money and let them do it. Same thing with increasing the amount of their investment ‘coz they might be unconsciouly crossing their line of risk tolerance. No matter how huge the potential of an asset is, always anticipate the qorse output to prepare yourself once it happen. Encouraging means exposing them as well so better know what you are trying to push him through with.

Not many people want to save some part of their income, even fewer want to think about investing them somewhere, because for this they need to study and analyze something, it seems complicated and unnecessary to them. Of course, it’s easier to buy a smartphone of the latest model and scroll through the news feed, it doesn’t require any mental activity, so all lazy people will choose this.

I very much doubt that such people need your advice, they just want no one to bother them, and there is nothing wrong with that, everyone lives as they feel comfortable.

For those who don't have the desire to save, I don't think they have ever felt the need when they haven't earned an income from the work they do. I really agree with you, those who don't have the desire to learn about investing, of course they are people who are lazy to develop, they consider their prestige more than having an investment that can make a profit for them.

Yes, everyone has the right to choose their own path in life, but if there is someone who cares about their future, I think there is no harm in them listening and if what that person says is true, it is better for them to follow that person's advice.

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[Agbe]

Mention this from the thread I posted to your friend. How much Bitcoin is needed to buy iPhone 15?
Improving each individual's finances requires many factors to evaluate. With close friends, we can easily talk about opportunities to develop ourselves more. I also said to a close friend that he was feeling poor? And of course we understand the poverty of knowledge, spirit, and material,... thereby rebuilding the most basic things. I don't like talking about an opportunity without understanding its nature, that doesn't guarantee sustainability.

The journey to a goal requires a beginning and perseverance. Here I see that beginning and hope everyone keeps that fire to have better opportunities in life.

Op is looking for merit and yours has no merit to mention so he decided to mention the one that has more merits and hoping to get more merits from it. And thinking that mentioning a reputable user will give him more merits but he has not seen any merit yet. Frankly speaking, personally I don't like iPhone because of the battery. You can't use them without adding extra mobile power bank so with that I don't normally like and use them. And not even the price. Some people that use iPhone is for fashion and not for anything. While some are using iPhone because their friends are using it so they just want to belong to the group. All those category of people are just wasting their money and time. Yes if they use that amount of money to invest on bitcoin then they will purchase more iPhones in the nearest future. Probably they lack the knowledge of bitcoin or lack the investment plan. They only after material things and not business.

[Slow death]

when I saw the price of the iPhone 15 for $500 in the thread, honestly even if I heard something like $1000 it would still be a price at which I would say that the person who pays the iPhone 15 for $1000 is very lucky, that's because the The price of an iPhone 15 in my country is 2500$, yes in my country I need 2500$ to buy an iPhone 15, this is because the people who import the phones + the high tax that my country's shitty government keeps charging whenever something matters, then phone prices are very expensive in my country. But talking about this thing of giving investment advice to friends, in my opinion this is something very dangerous, because today you can say to your friend: "don't buy an iPhone 15, take that money and buy bitcoin to make a profit"

your friend can listen to you and he really won't buy an iPhone 15, he buys bitcoin and then starts to have high expectations that he will make 3x profit or more, every year goes by and the price of bitcoin doesn't go up much, your friend starts to get angry with you , another year passes and the price of bitcoin drops a lot and with that your friend starts to suffer a lot of losses and starts to blame you for having told him about buying bitcoin, he starts to see that the 1000$ he bought bitcoin, spent more than 1 year, they will be worth 800$, that is, you will be holding for more than 1 year to have a 200$ loss if you sell bitcoin. This will only increase his anger

when 3 years pass and the price of bitcoin rises 50% and he ends up with 1500$ he still won't be happy, because it was 3 years that he held and in those 3 years the price of things in the real world also rose a lot, that is At the end of the day, it won't be worth waiting 3 years to make a 50% profit and your friend will blame you for that. I avoid giving financial advice because it is something very dangerous, advice that goes wrong can cost a fight so big that it can even end in great disgrace, especially when money is involved.

[_BlackStar]

-snip-

For those who don't have the desire to save, I don't think they have ever felt the need when they haven't earned an income from the work they do. I really agree with you, those who don't have the desire to learn about investing, of course they are people who are lazy to develop, they consider their prestige more than having an investment that can make a profit for them.

Yes, everyone has the right to choose their own path in life, but if there is someone who cares about their future, I think there is no harm in them listening and if what that person says is true, it is better for them to follow that person's advice.

Don't save fiat - but invest it in the best investment instrument in your opinion. Saving fiat is just as meaningless as inflation has taken away much of its value - so put your fiat to work by investing it in top performing assets like bitcoin and some other instruments. It's much better to give you returns in the long term instead of fiat.

You don't need to care about other people's paths because you are not responsible for whatever they experience. Your success is for you - and so is it for those who choose their own path.

[Uruhara]

If I were in the position of your friend, maybe I would do the same thing, namely by choosing to invest in Bitcoin instead of buying the latest iPhone. Because I know the price of the iPhone will be cheaper when I sell it again. So I would prefer to wait to make a profit from Bitcoin to buy the newest iPhone in the following years. This means that as long as the cellphone I am currently using still functions well and is still comfortable to use, it is certainly not wise for me to buy a new cellphone just because I follow trends. I will buy a new cellphone, whatever brand it is, after the cellphone I am currently using is no longer comfortable to use.

[Youngkhngdiddy]

There is no problem in the fact, he may express an interest buying an iPhone. But if he has another mobile phone then I will suggest him that after few months he can buy that phone and he can use the profit of this money to do so. As you said. At present, inflation is increasing in every country of the world, as a result of which people's income is not increasing, but the amount of expenditure is increasing. If the income of people does not increase when the price of every commodity has increased manifold, then there will be a disastrous situation. There is no guarantee in investing in Bitcoin that you can make a profit after the investment but in the long run the chances are high. Moreover, there is a possibility of a halving event next year. Bitcoin price is quite low now according to the current price, investment at this time definitely has the potential to get good returns.

 Investing in bitcoin should be for the long run, it is an asset to be considered for the long term, just same way you invest in land, you don’t just buy land today and try to sell the next month. You will have to give the land time to appreciate so you can get your return, everyone has different priorities, some will want to satisfy their desires by any course. Not everyone is business oriented, some will feel like buying the iPhone 15 just to satisfy their taste, I will always say if you can buy twice of anything you desire at a one shopping without flinching or having  finically set back, i consider such individual as rich. You have to have multiple stream of income to break the chain of struggling and having financial set back It not easy though but still there’s no harm in trying.
  Bitcoin can serve as investment plan if you’re thinking of the long run, instead of using your savings to go for the iPhone 15 which is a bit expensive due to our economy. One needs to know the difference between want and needs.  Continue to work on yourself and make sure you never staying idle. Be money oriented at all time. Bitcoin can also serve as another source of income for those that know the trade, interestingly with YouTube videos you can learn the basics and with  proper coaching and discipline  you can learn skill of trading.

 
 

[serjent05]

It is fine sharing your knowledge but never decide for their sake ‘coz if anything happens, you’d be the one to blame. This is an undending topic; needs va wants. Ofcourse it would be better to invest but problem is that we have different perspectives of how we would spend our money. Some are really prioritizing their wants such as new phones but that’s how their hardwork would be relieved; allow them. Simply give them an insight or an alternative way to spend their money and let them do it. Same thing with increasing the amount of their investment ‘coz they might be unconsciouly crossing their line of risk tolerance. No matter how huge the potential of an asset is, always anticipate the qorse output to prepare yourself once it happen. Encouraging means exposing them as well so better know what you are trying to push him through with.

Not many people want to save some part of their income, even fewer want to think about investing them somewhere, because for this they need to study and analyze something, it seems complicated and unnecessary to them.

It is not that many people don't want to save.  It is that their wages is just enough for their needs other even can't afford a 3x a day meal.  Most of the people I interact with wish they can have extra money to save.  But due to lack of it, they failed to do what they wanted.

Of course, it’s easier to buy a smartphone of the latest model and scroll through the news feed, it doesn’t require any mental activity, so all lazy people will choose this.

If you have money yes, but if you do not have, then it is impossible. I don't believe people who are able to buy expensive stuff are lazy.  Lazy people don't produce any wealth because they are fond of being idle.

I very much doubt that such people need your advice, they just want no one to bother them, and there is nothing wrong with that, everyone lives as they feel comfortable.

Who knows, sometimes people are need to be reminded that there iss something they can do to elevate their financial status just like what @OP is trying to tell his friend.

[Sophokles]

Mention this from the thread I posted to your friend. How much Bitcoin is needed to buy iPhone 15?
Improving each individual's finances requires many factors to evaluate. With close friends, we can easily talk about opportunities to develop ourselves more. I also said to a close friend that he was feeling poor? And of course we understand the poverty of knowledge, spirit, and material,... thereby rebuilding the most basic things. I don't like talking about an opportunity without understanding its nature, that doesn't guarantee sustainability.

The journey to a goal requires a beginning and perseverance. Here I see that beginning and hope everyone keeps that fire to have better opportunities in life.

Op is looking for merit and yours has no merit to mention so he decided to mention the one that has more merits and hoping to get more merits from it. And thinking that mentioning a reputable user will give him more merits but he has not seen any merit yet. Frankly speaking, personally I don't like iPhone because of the battery. You can't use them without adding extra mobile power bank so with that I don't normally like and use them. And not even the price. Some people that use iPhone is for fashion and not for anything. While some are using iPhone because their friends are using it so they just want to belong to the group. All those category of people are just wasting their money and time. Yes if they use that amount of money to invest on bitcoin then they will purchase more iPhones in the nearest future. Probably they lack the knowledge of bitcoin or lack the investment plan. They only after material things and not business.

Most of the comments are to attract merit sources to pour some merit on them. This isn't against the forum rules and sometimes good meritable topics can be shadowed behind other topics.

Some people think iphone represents their status in society. If your friends are using an iphone and you don't have one, sometimes your friends will try to mock you. Investing in bitcoin instead of buying a fancy phone can be a good idea but everyone doesn't share the same interest. Some people don't care about money or wealth and their concerns are more about fulfilling their desires.

[Negotiation]

Good advice to your friend is good to share knowledge but before that he needs to gain knowledge about investing in bitcoin. If you invest based on someone's word they will blame you if you suffer later. Since he bought an iPhone he has a lot of money, so it's a good opportunity to invest in bitcoin. Here the possibility of money decrease is very less as time goes by its value will increase but there is volatility in the market so don't be disappointed even if the price goes down a bit but if you hold on to it there is a possibility of getting a lot of good returns. The best chance your friend has is that he is able to buy bitcoins using cash.

[Nrcewker]

I would suggest you to never give an advice to someone when it comes about investing real money. I am saying this because if the person gets profit, then he will praise you but by chance if the investment goes into losses, then he will be the one who will blame you for the loss. Yes what you can do is just tell him the benefits of bitcoins or the investment that you are suggesting. Now it’s up to your friend that whether to invest there or not after hearing about the benefits.

[BITCOIN4X]

Good advice to your friend is good to share knowledge but before that he needs to gain knowledge about investing in bitcoin. If you invest based on someone's word they will blame you if you suffer later. Since he bought an iPhone he has a lot of money, so it's a good opportunity to invest in bitcoin. Here the possibility of money decrease is very less as time goes by its value will increase but there is volatility in the market so don't be disappointed even if the price goes down a bit but if you hold on to it there is a possibility of getting a lot of good returns. The best chance your friend has is that he is able to buy bitcoins using cash.

Investments don't just have to be about bitcoin, but they need to consider investing instead in consumerist things like iPhones and other items. I have tried to advise several relatives on the best way to make money instead of spending money on things that are consumer in nature, but the biggest challenge is that they will stick to their respective positions even though there are some of them who really care.

Here I don't care what other people do and how they spend their money, I mean that's because I'm not responsible for changing their mindset. I only care about myself and my family so I can indoctrinate their minds to use money to make money. I have succeeded in preventing them from spending money on expensive items and using the money for investments, and so far I have succeeded.

[Smack That Ace]

If someone needs a new phone to be exact an iPhone 15 for some purpose like having good quality of camera and for making contents, that's not a problem.

If someone wants to buy it for their personal satisfaction and gratification, that's not a problem.

I know that we're eager to educate people to invest in Bitcoin but if they're also eager to buy that piece of device then let them be happy with it.

If they want to invest, they will invest because it is common that people will buy expensive things over buying assets that will help build their future better.

That said, it all depends on each person's intended use, we should not hastily conclude that someone buying a new iPhone is a waste. I see people often create content like recording clips to make money through social networks, it's clear that buying iPhones is not only their need, but they also make money by unboxing the latest phones. Many young people in my country also line up and jostle to buy the latest iPhones for their own reasons. They are the ones who make money from reviewing so they will always hunt for new technology products.

There are many ways to make money, not just investing in bitcoin, we should not criticize others just because they do not invest in bitcoin like us. Not everyone is wasteful or boastful.

Yeah, that's another one. Making a content out of it like unboxing.

It may be not that profitable at the beginning but that's the start of their career as a content creator. It's helpful to get into the latest tech trend and that's one nice idea for them to see that it's something that they need to have.

That's why sometimes our opinions our going that far about telling people shouldn't buy something they've been desiring to have for a very long time and just invest in Bitcoin.

Like what we are saying, to each their own.

As far as I know, with an account with hundreds of thousands of followers and thousands of likes for each video on Tiktok, the owner can also earn several thousand USD per month from Tiktok. It can be said that unboxing or reviewing new iPhones or any products brings them profit, so it is worth their investment of more than 1 thousand USD for each iPhone. They make even better profits than us.

In short, because we are on the bitcoin forum, we can say that people will prioritize investing in bitcoin over anything else. But let's not be too stubborn to think that only those who invest in bitcoin are doing the right thing, and those who buy iPhones or invest in other things are meaningless or wasteful. The world is very colorful and there are millions of ways to make money in today's growing technological world. We should not be quick to criticize or laugh at others without knowing what their real purpose and work are.

[Dickiy]

I would suggest you to never give an advice to someone when it comes about investing real money. I am saying this because if the person gets profit, then he will praise you but by chance if the investment goes into losses, then he will be the one who will blame you for the loss. Yes what you can do is just tell him the benefits of bitcoins or the investment that you are suggesting. Now it’s up to your friend that whether to invest there or not after hearing about the benefits.

That's right, even if you have managed to get a large enough profit that you want to bring or invite other people including your closest friends to also participate in investing like you do, but that is not a good action at all, especially for example with some coercion. Investing is very difficult and not entirely predictable, you have managed to make a profit and that means you are really lucky enough to find a market that is similar to your strategy. And I think you also know that in addition to profits there are also opportunities for losses that can be even greater there. Therefore I think it is not a good alternative if you invite someone especially by force, because it is clear as you said friend when the people they invite experience losses then they will come to you to blame you.

So basically consider everything again, it's okay if you want to do that, but only to the extent of telling in detail about the positives and negatives that exist in the investment, and also absolutely not until you invite by force. I think there are quite a few who are now experiencing a downturn in investment, none other than they came because of invitations from others.

[livingfree]

Yeah, that's another one. Making a content out of it like unboxing.

It may be not that profitable at the beginning but that's the start of their career as a content creator. It's helpful to get into the latest tech trend and that's one nice idea for them to see that it's something that they need to have.

That's why sometimes our opinions our going that far about telling people shouldn't buy something they've been desiring to have for a very long time and just invest in Bitcoin.

Like what we are saying, to each their own.

As far as I know, with an account with hundreds of thousands of followers and thousands of likes for each video on Tiktok, the owner can also earn several thousand USD per month from Tiktok. It can be said that unboxing or reviewing new iPhones or any products brings them profit, so it is worth their investment of more than 1 thousand USD for each iPhone. They make even better profits than us.

In short, because we are on the bitcoin forum, we can say that people will prioritize investing in bitcoin over anything else. But let's not be too stubborn to think that only those who invest in bitcoin are doing the right thing, and those who buy iPhones or invest in other things are meaningless or wasteful. The world is very colorful and there are millions of ways to make money in today's growing technological world. We should not be quick to criticize or laugh at others without knowing what their real purpose and work are.

I'm not sure with that but it should be like a partnership directly with TikTok and for those accounts of influencers that are already established, that's not a problem to them because they'll surely make money for each video they make because they already have an audience.

Some of those are even sponsored and they just have to give exposure to the retail shop whom sponsored them the phone. But for those that are using their budget to buy that, somehow it's worth it because it's like a lifetime video and it keeps on getting revenue passively for continuous views that it get.

[Peanutswar]

.. My friend bought $200 worth of bitcoins for the first time. It will try to gradually increase its investment growth.

Actually in reality even we say that it's ideal if they make an investment still if their impulsive thoughts will win they will surely bough those things. If your friend can still wait and have a working device and just want to buy Iphone just to flex I guess it's just a waste of money imagine if those investments grows up and make a good amount profit you can buy now two or more iPhone with your wants. But again base on your statement you have the knowledge I guess it's your responsible too to guide them and again better to make sure your tips will help them and not to lose their assets and make sure you have plan with those investments.

[n00ber]

I would suggest you to never give an advice to someone when it comes about investing real money. I am saying this because if the person gets profit, then he will praise you but by chance if the investment goes into losses, then he will be the one who will blame you for the loss. Yes what you can do is just tell him the benefits of bitcoins or the investment that you are suggesting. Now it’s up to your friend that whether to invest there or not after hearing about the benefits.

Maybe I have the same thoughts as you. To me, giving investment advice to others is a really bad idea, it's like we're asking for trouble. Because if their investment is not as expected and loses money, they will definitely come to us and blame us. One more thing, any investment has risks and even we have no guarantees for our investments, what can we do to ensure them? So, give suggestions and let them figure things out and make their own decisions instead of forcing or pushing them to invest out of skepticism.

[doomloop]

Given all the ideas about Bitcoin, my friend at one point decided to invest in Bitcoin instead of buying an iPhone. Suggested my friend to invest in Bitcoin by following DCA. My friend bought $200 worth of bitcoins for the first time. It will try to gradually increase its investment growth.

I'm actually not a fan of forcing someone into making financial decisions if they are not really comfortable with them or they haven't thought of them themselves. It's their life, let them make their decisions, they might have a different plan for their future and they might need to buy something, even if it's not a need but a lot of people also have wishes and desires that they have been saving up for so that they can get what they have been wanting for years.

So, we should actually just make suggestions just to see if they are interested in the idea and if they are not, we shouldn't ask them twice. If they show some interest and say that they are completely okay with skipping buying a phone or anything and invest the money in Bitcoin, then one should go ahead and guide them through.

[karabiber]

In countries where iPhones are expensive and inflation is high, iPhones or Apple products are used as a store of value and investment tool, just like Bitcoin. For example, due to government taxes the average iPhone price is $2000 in Turkey, which is twice the price of an iPhone in the US and Europe.

Especially due to high inflation, the price of a good you buy today can double the next day and in this case, the iPhone can be an investment tool. In such a country, i would not advise someone to buy Bitcoin for investment and buying an iPhone may be a more profitable investment than Bitcoin. Because the price of Bitcoin has been stable for a long time and it makes more sense to buy an iPhone for short term profits. However, i should note that the value of the OP's advice to his friend will be much better understood years from now.

[Best-mary]

I've noticed a topic in the Bitcoin discussion. I was encouraged by reading the Topic, I thought if anyone would benefit financially from me. Instead of buying an iPhone, if one invests in Bitcoin, his future will be bright.  Now if someone invests in Bitcoin with the same amount of money to buy an iPhone, it is expected that in 2-4 years he will be able to buy 1 iPhone with the investment profit. Also, Bitcoin halving in 2024, investment during this time can be very profitable. With that in mind, I suggested buying bitcoins instead of buying iPhones in my local thread. I searched among my friends to see if anyone would buy an iPhone, finally one of my close friends lives in my country's capital. Working in a good company and getting salary of $500 per month. Buying that friend's iPhone is easy. He came to visit my house a few days ago. My friend had a $200 normal phone, one time I talked to him he said he was going to buy an iPhone 15. I can't knowingly recommend my friend to buy an iPhone. I got good knowledge about Bitcoin, I suggested my friend to invest in Bitcoin thinking about his future development. Given all the ideas about Bitcoin, my friend at one point decided to invest in Bitcoin instead of buying an iPhone. Suggested my friend to invest in Bitcoin by following DCA. My friend bought $200 worth of bitcoins for the first time. It will try to gradually increase its investment growth.

It's not a bad idea, but I hope you mentioned to your friend that Bitcoin might not experience an immediate price surge as he imagines. He could be calculating his potential gains based on your input, but he should understand that patience is essential to achieve his goals. If he's inclined towards trading, he could also consider using the Sniper Range strategy to potentially earn more profits and then consider Dollar-Cost Averaging (DCA) for a longer-term approach.

[Tony116]

In countries where iPhones are expensive and inflation is high, iPhones or Apple products are used as a store of value and investment tool, just like Bitcoin. For example, due to government taxes the average iPhone price is $2000 in Turkey, which is twice the price of an iPhone in the US and Europe.

Especially due to high inflation, the price of a good you buy today can double the next day and in this case, the iPhone can be an investment tool. In such a country, i would not advise someone to buy Bitcoin for investment and buying an iPhone may be a more profitable investment than Bitcoin. Because the price of Bitcoin has been stable for a long time and it makes more sense to buy an iPhone for short term profits. However, i should note that the value of the OP's advice to his friend will be much better understood years from now.

If you are talking about people who trade iPhones by buying and reselling them, then we have nothing to discuss here, it's their business. But if someone just likes to boast and show off while their income is still unstable, then buying a new iPhone is really condemnable and too wasteful.

But I don't agree with you when you say bitcoin has been stable for a long time, I have never seen bitcoin being stable. Bitcoin is always volatile, but the volatility is sometimes quite small and you cannot make a profit if you hold it. But you can make profits by trading bitcoin.