Succeeded in introducing Bitcoin to a friend

[Ziskinberg]

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. 

I think his friend never demand to see his bitcoin amount. It's just OP that is very eager to show his achievement with bitcoin. So not really a wise move OP. You don't even know his present background because you have not seen each other for quite a long time. Bitcoin is an investment property, so it needs to be privately kept and hold, and never to be easily disclosed to anyone.

However, I was also shocked why his friend immediately invest at a huge amount. It just only proves that he really did not understand the risk involves in bitcoin.

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[tread93]

I think OP just got carried away on his conversation with the friend. Maybe with a bit if a show off haha why would you show someone how much bitcoin you have, considering that is a friend you havent seen in a while.

To be honest, i wont talk about money to someone i havent met for a long time. Not everyone's comfy talking about money, and it could create weird vibes or even stir up unexpected expectations. Plus, you never know who's listening, right? Keep it lowkey and chat about crypto without turning it into a wallet show and tell. It's safer and you won't accidentally make things awkward.

I would definitelly hav eto agree with you Natsuu, it would be wise to not divuldge this information as you never know who could be listening (especially through your electronic devices), this information should be kept secret and safe. This was more of a bragging show off to an old friend to show him his success and get a nod. This type of thing was a flaunt. Education is the most important piece. Explain its importance and show them the way, and if they ask about your holdings I always say that that its rude to ask such a question because its none of their business.

[Queentoshi]

...

It makes you a good friend to be able to introduce your friend to something with the potential of changing their lives. The common things that some friends introduce their other friends to are things that can ruin their lives like smoking, drinking and gambling. Only few friends share useful information. Now that you have introduced your friend to bitcoin, you have to make sure that they understand the need to try to start doing their own research on bitcoins, so as to know more.

[Hamza2424]

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.

Why ?

I think it's not a big deal because Op mentioned that he was his old friend so there's no issue with the physical attacks as there some such cases already exist. At the same time, I think greed has no limits even the trusted ones can do something unexpected and still give the benefit of the doubt because He's your old friend, and until you are securing your key there's no issue also better to use a hardware wallet. A maximum of the security concerns can be handled with the hardware wallet.

DCA is a good strategy in every market zone, but with the zone change, we can adopt some other strategies such as buying the dips, flexible DCA, etc etc.

OP make sure to realize the privacy concerns on the internet, if you are good at it, you can keep yourself safer it was your friend if it was any other person whom you were just educating about Bitcoin I would have called it the stupidest action. For the rest, I do appreciate your efforts and motivation for sharing this story but mostly people on the forum ask and answer stories are not considered as reliable to share anything.

[Issa56]

I went through your profile, and the first thread that you created showed that you just bought a bitcoin when the price was at $43,943, which shows that you just started accumulating bitcoin recently, and you asked some questions in the thread, which I am sure only a newbie will ask that kind of question, but in the current post created by you, it seems like you have been accumulating bitcoin for a long period of time. I don't really believe your story, I don't really know how true it is.

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

I said earlier that I don't know how true your story is, but if it is, then you made a great mistake. You shouldn't have shown him your bitcoin holdings, don't disclose the amount of bitcoin you are holding to people, your bitcoin holdings should be known only to you. You claimed your friend travelled the country for a long time, and your friend recently just came back. You shouldn't really trust him to the level of showing him your wallet. You might trust him, but I hope you know people do change. Your friend might not be the same person you knew a few years ago, so you have to be careful.

If you really have a huge amount of money in your wallet, what if your friend ends up setting you up and asking you to send the bitcoin to their wallet, or if the bitcoin is stored in a non-custodial wallet, asking you for your private key? You can tell people about bitcoin, but don't disclose the amount of bitcoin that you are holding.

[Maslate]

While you became successful in making your friend to invest in bitcoin, but I am worried on your friend as well because his decision to invest is such a rush. I believe greed is one reason, but if he's really smart enough, he should have research on it first before trying to trust and invest in bitcoin. You might be held responsible of his future losses, who knows.

Now, on your part OP, I would like to advise you to never show your wallet again regardless of how small your bitcoin hodling is. You never know what's running on your friend's mind so be cautious and be mindful the next time you introduce bitcoin to your peers.

[Silberman]

While you became successful in making your friend to invest in bitcoin, but I am worried on your friend as well because his decision to invest is such a rush. I believe greed is one reason, but if he's really smart enough, he should have research on it first before trying to trust and invest in bitcoin. You might be held responsible of his future losses, who knows.

Now, on your part OP, I would like to advise you to never show your wallet again regardless of how small your bitcoin hodling is. You never know what's running on your friend's mind so be cautious and be mindful the next time you introduce bitcoin to your peers.

Even if the friend has no ulterior motives they can always talk more than what they should and reveal the amount of bitcoin the OP has on their wallet, and if that information reaches the wrong person then the OP could be at risk of getting their coins stolen, this is why the approach the OP took should be disregarded, as even if they were successful in getting their friend interested in this market, the risks they took with this method are simply too high for most people to bear.

[oktana]

Just before your question, I already planned to talk about you showing him your Bitcoin balance. It is a wrong thing to do because you just said that you haven’t met or communicated for years. I am not saying he’s a bad person but what if he isn’t the same person you knew back then? And even for a friend you see everyday, showing them your Bitcoin balance is still dangerous for reasons like envy. Someone can envy you just because you know more, do more, or even have more. So, not just about him, because who you tell that you have Bitcoin, not to mention the people you actually show your balance to.

[libert19]

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.

Why ?

I think it's not a big deal because Op mentioned that he was his old friend so there's no issue with the physical attacks as there some such cases already exist.

You never really know, I'd prefer to not tell anything sensitive to anyone tbh. Also, I don't think there was real reason to show accumulated amounts to his friend, it could be avoided.

He met his old friend after 10 years, people completely change in this much time.

[Shishir99]

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.

Most people who introduce bitcoin to their friends forget that. They do not tell them the whole picture! They present Bitcoin like it's a Ponzi scheme and there is no downtime. They present that Bitcoin is magic money and everyone can be rich by investing in it. They always present it like, the Bitcoin price always increases with time. They never say that Bitcoin could down for a year or so. We have been down from ATH for the last two years. Imagine someone bought Bitcoin at ATH. How have they felt about it for the last few years?

We have to tell them that, you have to buy at the right time if you want to make some profit. unfortunately, we don't know what is the most accurate time to buy it. To avoid confusion, usually, we follow DCA methods to buy Bitcoin. But the Ideal time to buy is when Bitcoin goes down. We have to tell them that the bear run is not permanent. We are not losing anything if we do not sell our holding! There are many things we can explain them.

[angrybirdy]

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.

If you will ask me, it's a No for me, Even if were close friends because I want to maintain the confidentiality when it comes to my income, salary as well as about investments/savings. It's not like I don't have trust but It's much safer If I'm the only one who knows about it, Even to my family, I never informed my exact income amount so as to have less expectations.

[cryptoWODL]

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.

Why ?

I think it's not a big deal because Op mentioned that he was his old friend so there's no issue with the physical attacks as there some such cases already exist.

You never really know, I'd prefer to not tell anything sensitive to anyone tbh. Also, I don't think there was real reason to show accumulated amounts to his friend, it could be avoided.

He met his old friend after 10 years, people completely change in this much time.

It is true that people can change at any time.I also have some friends that I have told about Bitcoin and they are trying to learn but I haven't told them that I have Bitcoin. Because I have to protect myself.
I didn't tell my friends about my bitcoins in case they attacked me for changing at some point. But I have discussed my Bitcoin investment with my family and I even discuss it almost every day.

[Questat]

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.

If you will ask me, it's a No for me, Even if were close friends because I want to maintain the confidentiality when it comes to my income, salary as well as about investments/savings. It's not like I don't have trust but It's much safer If I'm the only one who knows about it, Even to my family, I never informed my exact income amount so as to have less expectations.

It is about keeping ourselves safe as well. He might gain interest in learning but we never know what is the mind of those people who know our finances. I'd rather look simple and empty so people don't care about us. But can't blame the OP as well, he trusted his friend, and he has the confidence already, and in order for him to convince to show evidence that he has Bitcoin. We could just hope that everything went well and his friend didn't think any stupid things against him.

[bettercrypto]

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

Sorry, but it is not okay for me since you asked about this matter. Better yet, you gave him a briefing on Bitcoin. It would not show the amount of bitcoin you have now. Because it's like when you used to brag to him that you had Bitcoin and he didn't. Even if we say that, that is not really your intention.

So what happened during your conversation was that he immediately got interested, even though he didn't really understand Bitcoin yet. That's because he saw the value of Bitcoin in the market, as you may have told him. Maybe next time, don't do that.

[libert19]

It is about keeping ourselves safe as well. He might gain interest in learning but we never know what is the mind of those people who know our finances. I'd rather look simple and empty so people don't care about us.

Those people who care about you only when you have something, are to be stay away from. There is quote I read long ago; money is a relative term. It brings so many relatives.

[Rampagoe004]

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. 

I was also surprised when I read the story. I mean $520 is a lot of money and how can your friends trust you when you haven't seen each other for a long time? Is it because you guys are really friends? Honestly, I'm sorry I see you as if you were telling something and omitting some details. There OP didn't mention how many coins he had, which made his friend curious. If he talks about the results obtained from the forum then that is impossible because the OP is still a Jr Member. Unless OP turns out to be lucky in getting potential coins from the bounty thread.

[Negotiation]

Many have told similar stories but later they suffered it seems really strange in my opinion you should not show your bitcoin balance if you haven't seen your friend yet. It is normal for him to be jealous of you when you grow up it is better not to share your personal information with anyone if you are not trusted. How can you believe so much without seeing a friend? If a friend betrays you you can't do anything Keep investing yourself and you will get good profit. Don't see anyone with a large amount of money.

[bayu7adi]

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

Asking about someone's specific wealth can be kinda rude, but with close friends, it's usually not a big deal. Sharing how much BTC you have, though, seems unnecessary. Unless your friend really needs that info, it's not useful and won't really matter to them. If you want to motivate them, just share your experiences instead of showing off your BTC amount.

Remember, keep it real and don't do things that aren't necessary. If your friend doesn't like it, they might decide to distance themselves from BTC. You wouldn't want that guilt on your shoulders, right?

[Kakmakr]

It does not matter how many bitcoins you have and how many you showed him, what does matter is that you introduced this to him and that he decided to buy some bitcoins. It might strengthen or break your friendship, depending on how well Bitcoin perform.

You need to educate him on the correct reasons to buy bitcoins and not just to buy it to speculate. We want Bitcoin to succeed as a currency, so he should find ways to convert Fiat to Bitcoin and then to use it as a currency. 

[mamesso]

You direct him step by step on how to buy Bitcoin and your friend has now got his first Bitcoin according to your instructions. Close relationships that have existed for a long time can make people more open with each other, showing Bitcoin to close friends is safer than publishing on social media. Your friend is brave enough to make his first purchase worth $520 after hearing your story about Bitcoin, even though he is still new to Bitcoin investment, his courage should be appreciated.