Maybe I should have taken this risk earlier.

[blockman]

I would be completely against him investing more or less from the money his parents gave him. He should earn his own money before investing in bitcoin instead of relying on his parents. As a first-year student, it will not be difficult for him to organize his time and find a part-time job to earn extra income. That way, he will be able to invest in bitcoin more comfortably.
I really don't like students who rely on their families and think that because they are students, they don't need to work. Therefore, I completely oppose any investment intentions of these young people unless they make their own money.

You have a point that if he can earn his money, that's what he should use for investing. But there are people that are given money by their parents and they just want them to spend it wisely. Investing in Bitcoin is a wise thing for them instead of spending it on nonsense things. I agree about finding a job, part time and from there he'll be more responsible with his money and he'll take care more of it. And as he takes care of the money given to him, that's where he's going to learn how to take care of his earned money from any gig that he works for. Because if he sees how hard it is to earn money, he'd definitely think of what's best for his money whether it's given by his parents or earned.

[1714702878]

1714702878

[Inwestour]

Or you will buy Bitcoin now, and in a few months the price will drop to 20k and what will you do in this case? You won’t even have enough money to pay for your studies, these are unjustified risks.

You want to buy Bitcoin now to sell it when it reaches 40k, this is approximately +15% profit, but with your budget of $1500 it will be a little more than $200, is it worth risking this amount if we are talking about the money you need for studies? It seems to me that this is not worth doing. If you want, start saving your pocket money and buy Bitcoin, it will make everything much more reasonable.

[lizarder]

Or you will buy Bitcoin now, and in a few months the price will drop to 20k and what will you do in this case? You won’t even have enough money to pay for your studies, these are unjustified risks.

It's simple for people who experience this, they can patiently wait for the recovery period or if they implement a long-term strategy then this is not a big problem. I'm not talking about whether he is worth risking the amount of percentage he wants to take or not, but when he has no plans to meet the necessary educational study costs then it will end much worse when the price of bitcoin drops and he needs money to finance his studies at that time

You want to buy Bitcoin now to sell it when it reaches 40k, this is approximately +15% profit, but with your budget of $1500 it will be a little more than $200, is it worth risking this amount if we are talking about the money you need for studies? It seems to me that this is not worth doing. If you want, start saving your pocket money and buy Bitcoin, it will make everything much more reasonable.

He needs to make careful planning and must take into account the costs of the studies required before deciding to put his money completely into bitcoin. I'm not talking about whether he is worth risking the amount of percentage he wants to take or not, but when he has no plans to meet the necessary educational study costs then it will end much worse. When the price of bitcoin falls and he needs money to finance his studies at that time he will make the wrong decision and sell bitcoins to pay for his education.

There is no success without risk involved in it, but to what extent people can control these risks to avoid unnecessary losses. The concept does not only talk about risk but how he can minimize other needs as important needs, which in this case is the cost of his education.