Would you advise a friend in the same way?

[Kristiyana]

Let me just add small thing to what they have replied so far, Bitcoin is a good investment I mean a nice place to invest but that doesn't mean you can or  you will suggest or give someone an opinion to invest it. We know if he invest in bitcoin he won't lose the coin it will be there but who knows if the coin will dip and remain constant for some time or years before it will start to appreciate or what if a situation whereby after investing he is not careful with his see phrase and then someone get access to it and wipe everything, do you think he will forgive you of cause he won't. He will be thinking it's a planned something, that because he is rich you are not happy for him so be very careful and if he has not invested already make him know that you are not advising him to invest but rather you just wanted to enlighten him on how bitcoin is.

[Essential10]

Let me just add small thing to what they have replied so far, Bitcoin is a good investment I mean a nice place to invest but that doesn't mean you can or  you will suggest or give someone an opinion to invest it. We know if he invest in bitcoin he won't lose the coin it will be there but who knows if the coin will dip and remain constant for some time or years before it will start to appreciate or what if a situation whereby after investing he is not careful with his see phrase and then someone get access to it and wipe everything, do you think he will forgive you of cause he won't. He will be thinking it's a planned something, that because he is rich you are not happy for him so be very careful and if he has not invested already make him know that you are not advising him to invest but rather you just wanted to enlighten him on how bitcoin is.

If Bitcoin is a good investment why can't I tell my friends or acquaintances to invest? You first learned to eat food from your parents, then you mastered how to eat on your own. If you give your friend or acquaintance proper knowledge about bitcoin investment and he accepts it and realizes that there are good opportunities from here for the future then I don't think you will need him later. Yes, it is true that you can be guilty if you force someone to invest without giving him proper knowledge before he has mastered the matter. There will be risks, and there are many small companies that have taken risks and are now very successful.

[btc78]

If Bitcoin is a good investment why can't I tell my friends or acquaintances to invest? You first learned to eat food from your parents, then you mastered how to eat on your own.

The difference is that your parents most likely does not necessarily expect something back from you. They wouldn’t blame you if things were to go bad.

I do want to help my friends out but if our friendships were to start to crumble because of this, I would really hate that. You underestimate how entitled many people can be. You help once and they will keep asking you to help them again and again and if you don’t then that will surely leave a mark on your relationship.

[Vinaa77]

If Bitcoin is a good investment why can't I tell my friends or acquaintances to invest? You first learned to eat food from your parents, then you mastered how to eat on your own.

The difference is that your parents most likely does not necessarily expect something back from you. They wouldn’t blame you if things were to go bad.

I do want to help my friends out but if our friendships were to start to crumble because of this, I would really hate that. You underestimate how entitled many people can be. You help once and they will keep asking you to help them again and again and if you don’t then that will surely leave a mark on your relationship.

Of course, every parent will not have a problem if they fail in the investments we teach and this will be very different if we advise other people to invest and they fail, of course they will blame us. Of course this is very unpleasant for us. We will not recommend anyone else if something we don't want happens to the person we recommend and if anyone asks, maybe we can explain the benefits and risks if they make a mistake and the rest will be returned to them. whether they have the desire to invest or not and if they decide to invest, they must be able to bear the risks they face in that investment themselves.

[Vaskiy]

Bitcoin investment can be suggested. When it comes to business, already they'll be at a better position and they prefer reinvesting it into the business to widen the business to next level and their choice won't be towards something else. Maybe if they're towards technology based investment then going towards cryptocurrency based on their self interest seems to be better than going on someone's words.

[Volimack]

It's not bad to advise a friend to invest in bitcoin but the investment decision should be made by a friend. Some people will tell you that Bitcoin is a bubble and it will collapse and disappear along with your money. Some people may tell you that any other currency is better because they are investing in it is not their money that you are spending, so investing after knowing the risks will not create any pessimism and good profit will improve its business.

[Dr.Osh]

To Op and anyone that have been a real bitcoin enthusiasts. I admire how you are wanting to support Bitcoin through this means of introducing it to someone.

But there are right ways of doing it and I won't do the same thing, I'll tell that guy to invest on their company's resources that shall increase the productivity of their workers and company's sales and profit but not through investing in BTC.

I know that his friend will surely listen to his advise, because BTC has plenty evidence that will make people to believe that it will going to bull massively to cause people to earn from the bull run.

He might listen but it's best if that friend will invest to Bitcoin as an individual and not with his company's money.

yes, I also think that it is better for him to invest of his own accord using the money he has himself. Using money from his company might make that risk even higher. This is like using money that we are not willing to lose to invest. However, we know that your friend is a new investor in the cryptocurrency world, when he sees a falling chart, with a decreasing investment amount, it might make him panic, and maybe sell at a cheap price. This might disappoint his father. After all, it was the worst thing that could happen. Well, I always consider the worst that can happen before investing, so I can be better prepared. However, I also think that the safest thing is to enter investments of one's own accord and use one's own money.

[moneystery]

....

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

there is nothing wrong with that, because maybe your knowledge so far only revolves around bitcoin and you believe in it, so what you recommend first is definitely bitcoin. whether he accepts it or not is his business, the most important thing is that you can tell him about bitcoin and maybe he will be interested in investing in it. but if you can, you also have to educate him further about bitcoin, because after all he is a good friend and maybe the two of you can become business partners in the future.

[amihada]

In my opinion, you shouldn't advise him like that, you need to give him an opinion about Bitcoin, the advantages of Bitcoin, then your friend will come to his own conclusion, don't give too much advice to your friend. If something bad happens in its management, you will be blamed.

[blckhawk]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

I told him to think about investing that money if he wants to keep the company growing, I told him about how MicroStrategy is doing so well using Bitcoin as a strong backbone of the company, I believe that even a small company can turn big if they use Bitcoin as their main investment.

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

You're dead wrong about that advice, no matter how you look at it, it's not your money and your misinformation about Microstrategy led you to give this stupid advice to your friend, they're not just focused on one facet of technology and they're mostly business intelligence thing, if that's what the company of your friend is then I've got nothing to say but it seems that's not the case so I got to tell you that in the event that the price of bitcoin drops to a whopping amount, are you ready to take the blame for advising that friend to invest that leftover money into bitcoin? What if that money was something that your friend could have used for an emergency in the company or for himself? It's too late now to think about this kind of thing, whatever worse may come (hopefully none) for you friend's bitcoin investment, hopefully you would be able to bear the consequence of the possibility of being blamed.

[glendall]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

I told him to think about investing that money if he wants to keep the company growing, I told him about how MicroStrategy is doing so well using Bitcoin as a strong backbone of the company, I believe that even a small company can turn big if they use Bitcoin as their main investment.

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

I don't think it's wrong, but it's a good idea to just tell the advantages and disadvantages of Bitcoin, without having to recommend investing in Bitcoin, because as we know, everyone's financial problems are different, especially since your friend has just taken over his father's company, so maybe he still needs it. adaptation process, what's more, if he wants to invest in Bitcoin, it is a plus that you have introduced him to BTC

[fullhdpixel]

If Bitcoin is a good investment why can't I tell my friends or acquaintances to invest? You first learned to eat food from your parents, then you mastered how to eat on your own.

The difference is that your parents most likely does not necessarily expect something back from you. They wouldn’t blame you if things were to go bad.

I do want to help my friends out but if our friendships were to start to crumble because of this, I would really hate that. You underestimate how entitled many people can be. You help once and they will keep asking you to help them again and again and if you don’t then that will surely leave a mark on your relationship.

Yes, and apart from that, even if you try to help a friend out with a good gesture or with a positive mindset if something goes wrong and they have to incur some loss because of you or what you have suggested, they will blame you for those losses and it will also create problems for the friendship without a doubt.

This is the reason why if someone wants to suggest something to a friend that might help them, they should make everything clear beforehand so that the friend might expect something good but they should also understand the risks involved so that they take the decision without any influence and get no opportunity to blame the person who has suggested them that thing.

[Hanadawa]

Let me just add small thing to what they have replied so far, Bitcoin is a good investment I mean a nice place to invest but that doesn't mean you can or  you will suggest or give someone an opinion to invest it. We know if he invest in bitcoin he won't lose the coin it will be there but who knows if the coin will dip and remain constant for some time or years before it will start to appreciate or what if a situation whereby after investing he is not careful with his see phrase and then someone get access to it and wipe everything, do you think he will forgive you of cause he won't. He will be thinking it's a planned something, that because he is rich you are not happy for him so be very careful and if he has not invested already make him know that you are not advising him to invest but rather you just wanted to enlighten him on how bitcoin is.

That's why I often tell my friends to DWYOR and when I talk about Bitcoin I clarify that this is not investment advice or financial advice this is just my personal opinion. Bitcoin has high risks due to price fluctuations and is very volatile. One must have cold money to invest.

I read the OP discussing MicroStrategy and their success with Bitcoin. That's great motivation but please don't overdo it. Bitcoin has a very interesting story because if you look at the ROI Bitcoin has better returns than shares, bonds or deposits. But don't forget to convey some of the risks of investing in Bitcoin. One needs to truly understand the risks before starting to invest. If you don't explain it then I think it is true what Kristiyana said that your friend will not forgive you because you gave him something utopian.

[AnonBitCoiner]

The difference is that your parents most likely does not necessarily expect something back from you. They wouldn’t blame you if things were to go bad.

I do want to help my friends out but if our friendships were to start to crumble because of this, I would really hate that. You underestimate how entitled many people can be. You help once and they will keep asking you to help them again and again and if you don’t then that will surely leave a mark on your relationship.

Your parents will help you if you lose money in something but relatives and friends will forget their relationship with you when they face loss. Money is very important for everyone currently and people just think about money without giving importance to their relationship because they assume that they can get every happiness because of money.

You will teach everything regarding good or bad aspects of investment to your friend but remember that they will forget about your help and will blame you if they lose money due to their own faults. In present age you cannot do good with anyone because no one understands and remembers your good deeds but their main focus is to leave you after getting success in the field about which you have told them everything.

[0t3p0t]

Really hard to give someone a financial advice that they themselves aren't aware of I mean technical know how about Bitcoin the risks it might bring and stuff. On the other hand given that the guy is the successor of the company I think I assume he already has the idea about the said business and Bitcoin as well. Your friend might be thankful for you about the idea but for me it is way too risky as he is bringing the integrity, reputation and trust of the people in that business he had so if something happens to Bitcoin like market has crashed then what? Bull run makes us smile but how about bearish, when all that money's value goes down and tooks years to bounceback what happens next?

[teamsherry]

I don't think its right that he approaches bitcoin with all his funds, it should be from his disposable income of his company, you know bitcoin is volatile and you can not guarantee him profit to come along in a short period of time, ifs surely going to take a while for his investment to mature and for him to start seeing profits.

What I'll advice is that he DCA part of his disposable income into Bitcoin with along term approach and after a while he can start using the money to back his business up.

[Yamifoud]

snip
Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

i support what you are doing, continue to encourage your friend to invest in Bitcoin, don't give up, you have saved his life and also the company that his parents inherited for him.  Bitcoin has become a protector of asset value by many institutions and if your friend's company joins in, the value of the company's assets will likely increase from year to year.

but you have to accompany them because usually those who have never been involved in the world of bitcoin, will feel afraid when the market is bearish, beginners have a tendency to sell at a loss so always accompany your friend in their investment in bitcoin.

Introducing Bitcoin is good but not to the point that we have to urge people to do that. We let them decide rather than take the blame for ever they lose. It is wrong to take responsibility for others, we are making them reliant and weak. Instead of pushing OP to his friend to invest in crypto, it is better to take time to think first because it is difficult for someone to engage in risky investments with an empty mind, it only worsens the situation and even compromises their friendships.

[Lantind]

Introducing Bitcoin is good but not to the point that we have to urge people to do that. We let them decide rather than take the blame for ever they lose. It is wrong to take responsibility for others, we are making them reliant and weak. Instead of pushing OP to his friend to invest in crypto, it is better to take time to think first because it is difficult for someone to engage in risky investments with an empty mind, it only worsens the situation and even compromises their friendships.

Introducing someone to Bitcoin is of course very good because Bitcoin has experienced very good development since you appeared, but we have to be able to explain it in detail so that they don't misunderstand Bitcoin and if they have the desire to try investing, of course. we have to be able to guide them until they really succeed, but if they don't want to try of course we shouldn't force them because this will be very risky when they fail to invest of course they will blame it. we are the ones forcing them to invest and this will make our relationship bad because they fail in trying what we force them to do and it will be better after we explain it well to them, we have to ask them first if they want to try it like it or not and if they don't want it so we shouldn't force it.

[adpinbr]

Please one thing I should advise is that the money he is investing in bitcoin as you advise him shouldn't be the money you will tamper with in the company if any issues come up or any expenses let it be the money the company does not even required or need other particular time because this investment is going to take a longer time expected, so that is why it is necessary to invest what you can afford to live in bitcoin until it hits a high range of amount because sometimes it will fall and your money with depreciate, how it works to my own knowledge and it is a good thing, bitcoin goes high the company money will double.

[rodskee]

Is this the wrong advice? A friend of mine took over his father's company because he is so old already and he told me about the money thats available doing nothing in the bank.

I told him to think about investing that money if he wants to keep the company growing, I told him about how MicroStrategy is doing so well using Bitcoin as a strong backbone of the company, I believe that even a small company can turn big if they use Bitcoin as their main investment.

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

you have just bring yourself into a negative approach here because imagine you directly told him to invest or
use bitcoin when the best thing to deal here is tell him to study and understand bitcoin and let him decide what
to do next , the money sitting in the bank is like funds that going nowhere but for bank owners favor.

your friends is  good and smart enough to understand bitcoin specially if you will tell him your success here ,
but that will be the start of the journey.