Succeeded in introducing Bitcoin to a friend

[livingfree]

Not a problem to me I guess since it's both of you that known each other and knew how much each of you hold. I also think that most of us have this similar type of story that we've got this friend and asked us about Bitcoin and told them to buy and then just hold it until they make a profit.

But when it comes to this, knowing how much I have, I never disclose it to anybody otherwise if I think the person is not trustworthy. I just simply say that I've got less in my holdings because I have to sell.

It's surprising to see someone that you've just met again although you're long time friends that has bought with that much. Because with my friends, they don't even want to place $10 for their first purchase as they're all scared. 

[terrific]

My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?

This is like showing your bank account balance to someone. Are you comfortable with that? if you are then no problem.
Well, he's got the idea now that he's got more money than you so I guess that's fine for him but it won't be enough if he gets interested.
Because whether you show it to him or not, if he's truly interested he'd do his own research about btc.

that is exactly true. with the current technology these days, basically everyone can do their own further research if they want to explore things. we don't know the absolute truth about the OP's story, but if that was indeed true, then, yes, he got his friend's interest into this market. but do remember that he should advise him about the risks involved in getting into this market.

there's nothing wrong showing someone else's your wallet. but do you really think that is a smart move? i am not comfortable on that kind of situation. but as a holder, much better to be discreet with your dealings here. you'll never know potential risks that you are getting into up until you are in the terrible situation of losing your funds.

do remind yourself that you don't need to convince anyone to be on this market. they can get involve here, but it should be voluntary. they won't hold anything against you whatever may happen to their assets.

I am not also comfortable doing that. That's why if he's for something like this, he needs to understand that privacy is important.
That's even one thing about Bitcoin, privacy. But with the way he has introduced it to him, things seems are good to both of them.
Well then, good luck to all of us holders.

[Promocodeudo]

Last week, an old friend of mine back then in the university in 2013 who later traveled to Canada to further his studies returned back to the country and yesterday, he coincidentally met my mum at a shopping mall and requested for my contact and my mom gave my number to him so he called and called the nickname that we both normally call ourselves back then in the university days I was so shocked to hear that and I called his original name and he answered and told me he is back from Canada and he requested we meet at a bar immediately.

 So with excitement to hear from an old friend after so many years I just immediately took my bath and zoomed to the bar he directed me, so I got there lo and behold my old time friend. We exchanged pleasantries and started discussing about life and I told him how life have been so uneasy but that I got a job in a factory were am paid $60 for about 2 years now and i told him that my colleague at work introduced me to a forum called bitcointalk where i registered on the forum and learnt a lot of things concerning Bitcoin and i also showed him the amount of bitcoins i have stored in my wallet so far and he became curious to know about bitcoin and i explained everything i know about bitcoin and encouraged him to join me in buying and holdling bitcoin that we are awaiting the bull market after the halving so he became so furious and told me that since he knew me that I don't normally give attention to anything online (internet) but for me to hodl such huge amount of Bitcoins that it means am really serious about it so he became interested and ask me how he can buy Bitcoin as well so I told him step by step on how to buy Bitcoin and he bought Bitcoins worth $520 that is about 0.012194 btc so he told me that he wish to acquire 1 btc so I told him not to worry that he will use the DCA method to buy same amount of bitcoins at different interval then with time he will surely acquire the 1 btc.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?

OP, with what I see, you are still a newbie, did you learn bitcoin before joining this forum, if your answer is yes, it is fine, but if you say no, I will say that you learnt very fast to even introduce someone to bitcoin, since you have learnt,  I strongly believe that you have told your friend that bitcoin is not a fast money making investment, having other earning while you invest the little you can will help anyone to hold for as long as you want.
Any amount he want to invest should be personal, don't give advice to that effect so that you will not be held responsible if any ugly situation occur.
In the aspect of showing him the amount of btc you have acquired I don't think that's a wise step to take because I think that bitcoin is personal stuff unless in some cases it requires you to reveal your btc balance which is rare.

[yazher]

The same story happened to me years ago and now he is not only my friend outside of social media but also one with whom I can talk freely when it comes to crypto-related matters. It's nice to have a friend whom you can ask for advice when it comes to certain coins for your investment because they will just gonna simply explain it the way you understand well and there will be no sugar coating because he truly cares for you when he advises you. Unlike taking some tips from influencers on Youtube, they will lead you astray and lure you to invest in their shitcoins and leave you in your investment after the project they introduced to you has failed.

[Shishir99]

SNIP

You didn't need to tell the long story to simply say that. But I am okay with that. You just broke your privacy. I don't know how old you are. But after reading how furious your friend was after he heard about Bitcoin, it seems you guys are under 25 or maybe less than that. I am saying that because someone should not invest in something right after he heard about it.

To learn basic things about Bitcoin, a person need at least a week to to research and get more idea about it. When you give someone a positive idea about something, you should tell him the possible negative side as well. Otherwise, your good friend will turn into your enemy. At least they won't see you as a good friend anymore.

[rodskee]

What a great story , how long have you created this before posting ? anyway assuming
that all is true then why need to show how much bitcoin you has in a full strangers like him? you have
not seeing each other for many years but you have trusted him that much? sorry but like a created
topic to earn merit like many does before and yes they luckily started the trend and earned merits
but nowadays story's here and there coming ? not sure  if this will still gain much.

[Natsuu]

SNIP

You didn't need to tell the long story to simply say that. But I am okay with that. You just broke your privacy. I don't know how old you are. But after reading how furious your friend was after he heard about Bitcoin, it seems you guys are under 25 or maybe less than that. I am saying that because someone should not invest in something right after he heard about it.

To learn basic things about Bitcoin, a person need at least a week to to research and get more idea about it. When you give someone a positive idea about something, you should tell him the possible negative side as well. Otherwise, your good friend will turn into your enemy. At least they won't see you as a good friend anymore.

I think it takes more than a week.

Anyway youre right that OP should consider both the positive and negative aspects. Open communication about potential risks is indeed crucial in any friendship. It's a valuable lesson in making informed decisions, especially in the world of investments like Bitcoin.

[lizarder]

My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?

No one cares how much bitcoin you have and telling your friends about it is your own choice. But one thing you need to know is that investing in Bitcoin will be much safer if you remain anonymous and provide amount of ownership information to your friends is an attempt at justification that you don't need to do. That's why many people are too lazy to teach other people about bitcoin because they tend to want to get involved once we show that we have the amount of ownership.

To me this is ridiculous and what is your basis for telling him that? because if you think telling him how much ownership you have can attract his interest in investing. In my opinion you are digging your own grave and it will make you uncomfortable at times.

[GigaBit]

Some people are influenced by others. There are many who have changed their lives through friends. This bit of advice you gave about Bitcoin may be the best advice to change his life. Bitcoin is still a suitable investment medium for ordinary investors. Opportunities for small investors are gradually narrowing. After a while, it will become difficult for ordinary people to buy bitcoins other than institutional investors. If your friend can invest in Bitcoin by making a certain amount of money with DCA then he can definitely get a significant rate of return from this investment.

There are two positive and negative aspects mentioned the question. If your friend is honest and trustworthy then there is no problem here but if dishonest then there may be problem. But it would not be bad if you tell him without showing that amount. I would say that  ensure your safety first.

[Ruttoshi]

My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?

It is not a safe practice to show anyone the amount of bitcoin in your wallet, because you don't need to prove to anyone that you have bitcoin before you can convince them to buy bitcoin. Whoever that love bitcoin concepts after explaining to him will think over it and decide if he will adopt bitcoin or not. This is because, you don't know who is happy with your progress and they might end up looking for a way to steal your coins.

I understand the happiness in you for seeing your old time friend after a very long time and that was what made you to be over excited to show him your wallet. Remember to keep your bitcoin hodlings a secrete for privacy. I hope that he is not investing because of the bull run that you explained to him for quick profit so that he doesn't think that bitcoin is a get rich quick scheme, and if he misses out from selling during the bull run, when bitcoin will go to the bear market, he will blame you for not explaining that bitcoin should be a long term investment.

[moneystery]

....
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?

you were right to give him a recommendation to invest in bitcoin because it could give him the opportunity to make a profit during the bull market, but it was not wise of you to give him the opportunity to see how much bitcoin you had. even though he was your friend at university, you haven't seen each other for a long time and we don't know how he has changed in the time you haven't seen each other. luckily your friend doesn't have bad intentions towards you, or it could be that the meeting becomes a nightmare for you.

[Shishir99]

I think it takes more than a week.

Anyway youre right that OP should consider both the positive and negative aspects. Open communication about potential risks is indeed crucial in any friendship. It's a valuable lesson in making informed decisions, especially in the world of investments like Bitcoin.

That is what I wanted to tell him too. People tend to make these mistakes by saying that it's a gem and the profit is guaranteed. But, as a good friend, you tell them everything in detail. Most of the time people talk about only the positive side of something because they want to sell the product. But, when you are talking to your friend and you are talking about Bitcoin, you don't have to impress them about Bitcoin. You have to tell them everything so they don't blame you later.

I am sure that you guys heard that someone convinced his friend to invest in something and later the project failed or scammed. Would you ever trust your friend after such a incident? I know there are less chance that Bitcoin may fail. But, imagine if your friend buy Bitcoin and the market goes for a long bear market. You will lose your friend.

[pinggoki]

My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?

It's smart but far from wise right now, for it to be considered wise, you have to tell that friend of yours the negatives of bitcoin too especially the volatility part, that's a big factor in my opinion that can decide if that friend will continue to invest in bitcoin because she's pumping out a lot of money in it for a newbie which wouldn't be advisable since it's a big money. Also tell her that she only needs to invest only what she can afford to lose because if she's hodling and her goal is the big profit in her bitcoin investment then that money will have to stay in a wallet for a really long time. Make sure that you're not going to be blamed in case the market goes down and her investment's value goes down because you're the one that's introduced her to bitcoin after all. Besides those concerns, I'm happy for you and your friend that you're able to invest in bitcoin and have hodling for the long-term in mind, may you reap great profits.

[gunhell16]

Last week, an old friend of mine back then in the university in 2013 who later traveled to Canada to further his studies returned back to the country and yesterday, he coincidentally met my mum at a shopping mall and requested for my contact and my mom gave my number to him so he called and called the nickname that we both normally call ourselves back then in the university days I was so shocked to hear that and I called his original name and he answered and told me he is back from Canada and he requested we meet at a bar immediately.

 So with excitement to hear from an old friend after so many years I just immediately took my bath and zoomed to the bar he directed me, so I got there lo and behold my old time friend. We exchanged pleasantries and started discussing about life and I told him how life have been so uneasy but that I got a job in a factory were am paid $60 for about 2 years now and i told him that my colleague at work introduced me to a forum called bitcointalk where i registered on the forum and learnt a lot of things concerning Bitcoin and i also showed him the amount of bitcoins i have stored in my wallet so far and he became curious to know about bitcoin and i explained everything i know about bitcoin and encouraged him to join me in buying and holdling bitcoin that we are awaiting the bull market after the halving so he became so furious and told me that since he knew me that I don't normally give attention to anything online (internet) but for me to hodl such huge amount of Bitcoins that it means am really serious about it so he became interested and ask me how he can buy Bitcoin as well so I told him step by step on how to buy Bitcoin and he bought Bitcoins worth $520 that is about 0.012194 btc so he told me that he wish to acquire 1 btc so I told him not to worry that he will use the DCA method to buy same amount of bitcoins at different interval then with time he will surely acquire the 1 btc.
My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?

If I base the story you told on this topic, I think it was wise that you did that to your friend to share what you are doing now with Bitcoin. You know why? because you showing the amount of your Bitcoin holdings was not an encouragement to me, because you hyped your friend to invest in Bitcoin.

Since your friend was immediately hyped to invest in Bitcoin, he did not immediately see the real concept of the beauty of Bitcoin. Did you explain the pros and cons to him? So, of course he will think that it is easy to make money from Bitcoin because its value is high now, you know what I mean? It's just that for me, what you did was not wise to share Bitcoin with him, you know that yourself, but why didn't you tell him the truth? It seems that what just happened was that you bragged to him that you have bitcoin, although you really have something to brag about. But the way you share your bitcoin with him is wrong.

[Blitzboy]

I think it takes more than a week.

Anyway youre right that OP should consider both the positive and negative aspects. Open communication about potential risks is indeed crucial in any friendship. It's a valuable lesson in making informed decisions, especially in the world of investments like Bitcoin.

That is what I wanted to tell him too. People tend to make these mistakes by saying that it's a gem and the profit is guaranteed. But, as a good friend, you tell them everything in detail. Most of the time people talk about only the positive side of something because they want to sell the product. But, when you are talking to your friend and you are talking about Bitcoin, you don't have to impress them about Bitcoin. You have to tell them everything so they don't blame you later.

I am sure that you guys heard that someone convinced his friend to invest in something and later the project failed or scammed. Would you ever trust your friend after such a incident? I know there are less chance that Bitcoin may fail. But, imagine if your friend buy Bitcoin and the market goes for a long bear market. You will lose your friend.

Bitcoin discussions with friends require honesty, not salesmanship. Investing is always risky. This must be emphasised especially when leading friends. Knowing risks and potential advantages are important. Always say, "Invest only what you can afford to lose." This mantra is key to crypto investing. Consider the human element: friendship is built on trust. Responsible investment advice includes Bitcoin. When the market dips, as it often does, financial loss can strain your friendship. Not simply market trends, but trust, openness, and respect.

Supporting Bitcoin doesn't negate its risks. Realism requires realising its potential and volatility. Instead of persuading, friends enlighten and encourage, letting them decide. This method fosters trust, respect, and, most importantly, friendships throughout market changes.

[bounceback]

Honestly I am not really excited introducing bitcoin to my friend due bad experienced before when they are investing and price drastically drop, many of them make me on fault position exactly they are most greedy when investing in bitcoin. Better introducing them not only with how much profitable earned when investing in bitcoin also need to talk them bitcoin have fluactive price with some time on the top and has potential will going down.

But introducing your friend with bitcoin don't left with teaching them free way to earn bitcoin and they will get benefit fund for investing without use their primary fund. When their bitcoin investment assets going dump not make you on pressure position and need to introduce them how most important with patience.

[MFahad]

Regarding your question, It depends on what kind of friend he is. how close and trustworthy he is. even tho sharing a public address with someone is fine as long as your keys are safe but it'll breach your privacy for sure.. it is totally on each person's own perspective.

The same story happened to me years ago and now he is not only my friend outside of social media but also one with whom I can talk freely when it comes to crypto-related matters. It's nice to have a friend whom you can ask for advice when it comes to certain coins for your investment because they will just gonna simply explain it the way you understand well and there will be no sugar coating because he truly cares for you when he advises you. Unlike taking some tips from influencers on Youtube, they will lead you astray and lure you to invest in their shitcoins and leave you in your investment after the project they introduced to you has failed.

You are correct. Knowing about Bitcoin and Cryptocurrency from a Friend or a family member is much better than finding it out fromthe  internet. Trusted influencers are still ok. but there are so many scammers nowadays that newbies can get easily misled by anyone.

[wtsimis]

It is really happy that a new person got to know about Bitcoin. Explaining the basics of Bitcoin to others through daily conversations and explaining its features and potential to traditional financial systems will surely create a new customer for Bitcoin. It's definitely a good idea to explain to a new friend discussions about Bitcoin limited supply, blockchain technology, and its potential impact on the future of money. I, along with others, look forward to exploring this exciting journey into the world of decentralized finance.

[Sanitough]

Yes, I've seen how you managed to convince your friend to invest in bitcoin and finally, he agreed to invest as well. However, what I want to correct is that showing him the amount of bitcoin in your wallet will never be right, certainly not a wise move for you because you are giving him the hint to steal your bitcoin or hack your account in the future. You forgot to stay cautious on your investment just because of your goal to convince your friend.

From this, hopefully you will learn your lesson and will not do the same mistake again. Bitcoin is very precious that people can't resist it from stealing if there's any chance.

[SmartCharpa]

Last week, an old friend of mine back then in the university in 2013 who later traveled to Canada to further his studies returned back to the country and yesterday, he coincidentally met my mum at a shopping mall and requested for my contact and my mom gave my number to him so he called and called the nickname that we both normally call ourselves back then in the university days I was so shocked to hear that and I called his original name and he answered and told me he is back from Canada and he requested we meet at a bar immediately.

 So with excitement to hear from an old friend after so many years I just immediately took my bath and zoomed to the bar he directed me, so I got there lo and behold my old time friend. We exchanged pleasantries and started discussing about life and I told him how life have been so uneasy but that I got a job in a factory were am paid $60 for about 2 years now and i told him that my colleague at work introduced me to a forum called bitcointalk where i registered on the forum and learnt a lot of things concerning Bitcoin and i also showed him the amount of bitcoins i have stored in my wallet so far and he became curious to know about bitcoin and i explained everything i know about bitcoin and encouraged him to join me in buying and holdling bitcoin that we are awaiting the bull market after the halving so he became so furious and told me that since he knew me that I don't normally give attention to anything online (internet) but for me to hodl such huge amount of Bitcoins that it means am really serious about it so he became interested and ask me how he can buy Bitcoin as well so I told him step by step on how to buy Bitcoin and he bought Bitcoins worth $520 that is about 0.012194 btc so he told me that he wish to acquire 1 btc so I told him not to worry that he will use the DCA method to buy same amount of bitcoins at different interval then with time he will surely acquire the 1 btc.

I hope you teach him more about bitcoin before he started investing too. It's exciting to show him another way to double his income, if he learns how to invest in bitcoin, I think he won't rely on just one thing for a living. You are a good friend to tell him about this forum, i believe he would learn more from you. In addition, you can also introduce him to this forum so that he can learn more about bitcoin whenever you are not around to direct him, which if he wants to invest in bitcoin in the long run, for him to go online and obtain false information from untrusted sources about bitcoin.

My question now is that is it wise that I showed him the amount of Bitcoins I have accumulated before he developed interest?

I don't think so, since you have known him for a long time, but that should give you reason to believe him because you two are not as close as you were before. When he traveled to Canada, you won't know a new way of life with him. Since you've already told him how much bitcoin you own, let it end there, don't give any more information to him about your privacy, just because he's holding bitcoin doesn't mean he won't scam you, to avoid losing what you've been holding for so long.