How to get your Dad (or Mom) to buy Bitcoin?

[kentrolla]

Hey what are you upto? If we drag it so much while inviting or explaining Bitcoin to newcomers then they will just get confused and run away, even I could read your entire post.

We need to keep it simple and upto the point wherein we need to explain them about the decentralised P2P and its benefits and how people who have invested into Bitcoin have been profited and we can use historic pricing data to explain them about it.

[Pokapoka124]

I want to avoid in any case, that sensation of being a boring crypto bro evangelist,

You already failed at that. If you cannot get us (people in a bitcoin forum) to read your topic, how can you get newbies and skeptics to listen to you. It took my time but I read the entire OP, I don’t think you should be talking  about the technical aspects of bitcoin to newbies as an introduction to Bitcoin. Neither do I think that newbies would be interested in the environmental impact of mining. When introducing Bitcoin to a beginner, stick to the simple stuff, use layman terms and do not try to impress people with your technical expertise on the subject. Most people are interested in bitcoin as an asset, you can hold their interest by talking about that.

[seoincorporation]

How do you want your mom and dad to understand all these wall of text that you wrote. It will be boring to them and that alone can discourage anyone from listening to you the second time. You must not convince or force anyone to buy bitcoin, so that you will not be held responsible for their actions, when the price of bitcoin goes south or if anything happen to their bitcoin investment.

True, a wall of text like that would be boring for them, they would pay you any amount just to stop talking about bitcoin  

I think the best way to get the parents involved with cryptos is to be honest, and explain the monetary side of it, how it used to cost $400 in 2014 and right now it cost $63,000 if they don't see the benefit that way, then it will be hard to convince them.

Another way is to make them proceed on a blind investment. "Hey mom, do you believe in me? then give me $5k for an Investment", hold the coins for 5 years and you will be in a huge profit.

[Alphakilo]

Even though I am never going to be teaching Mom or Dad about bitcoin because they are too old for it and they should probably be playing with their grandkids or something but lets assume that I am going to teach them. The first question I'll ask myself is what do they like? What is the best time to talk to them? When I find out what dad or mom likes, then I'll explain it to them using whatever they like, like a five-year old.

If they are retired, I'll use analogies from their career to explain bitcoin to them. I'll avoid the use of technical terms that will get them easily confused and lose interest. I'll go for simpler terms or use terms with similarity with their professional jargons. I'll also keep it very short. 15minutes should be enough to talk about bitcoin and gauge their interest. I'll leave rooms for questions. I won't talk about abstract bitcoin stuff but show them used cases of its application in every area of life.

[Jawhead999]

So, in our case, we would change the nonce and hash again, repeating until finding a hash with the necessary number of zeros:

Block:

– Hash of the previous block: abc123

– Timestamp: 1637284650

– Nonce: 1 (changed)

– Transactions: 1. Tx1: 10 BTC from A to B 2. Tx2: 5 BTC from C to D 3. Tx3: 3 BTC from E to F …

And we repeat:

Hash = SHA-256(abc123163728465011Tx1Tx2Tx3…)

The nonce is an unsigned integer that can take any value in the range of 0 to 4,294,967,295 (2^32 – 1) in Bitcoin. This range covers all 32-bit numbers since the nonce is typically stored in a 32-bit field in the header of a Bitcoin block.

I believe, even someone who own a lot Bitcoin and know the reason why they invest in this currency, didn't even know what you said above.

People don't have to understand the technical thing to invest in Bitcoin, they only need to understand basics computer security, compare Bitcoin with banks, fiat and other assets, that's. So, when they understand what actually Bitcoin is different and offer use cases that you can't find from other assets, it's enough.

Frankly I don't want to convince my parents to buy Bitcoin, they know what I'm doing, so if they're interested, they should open a discussion about it with me.

[Ale88]

Convincing someone to invest in Bitcoin, like your dad or mom, requires understanding his concerns and interests. Highlight its potential for high returns, its increasing adoption by institutions, and its role as a hedge against inflation, use the sections above to support your thesis. Emphasize the security measures in place and educate him about the technology behind it. Start with small investments to mitigate risk and offer to assist him with the process. Ultimately, approach the conversation with patience, respect, and a willingness to address his doubts or questions.

I want to use the points above to approach the topic to close people, but I would really appreciate it if you could give me some extra tips, or hints, or arguments that may be useful for this. Also if you guys have some good short videos for such purpose, I would really appreciate it as well

You are probably seeing this from the point of view of a young person who still has a lot of life in front of him. Parents of people who are in their 30s are probably retired at this point, or they are just a few years away from retirement so, probably, they already built their retirement plan years and years ago. If they are ok with their current and future situation, I wouldn't try to convince them at all costs to buy bitcoin: sure, they could increase their retirement funds but what if bitcoin goes down, let's say, 30%, will they be able to hold? Or is it easy for them to sell at loss and then blame you? Bringing your parents into bitcoin is a dangerous path.

[bluebit25]

We are not all the same in terms of perception, so actually presenting someone with an opportunity with bitcoin is really a double-edged sword, and it is not certain that it will completely guarantee the opportunity without risk. For me, it is not necessary to teach my parents about bitcoin, because most people in my family do not pay too much attention to technology or finance, so spreading knowledge does not happen overnight, and it's like trying to explain to a child about DNA replication.

So imo, let everything happen naturally, without necessarily convincing someone about the opportunity that we know about. Through that, prove that you have a good opportunity by showing the results you get and helping those around you in return.

[Maus0728]

thick walls but the point is I understand, and in my opinion there is no need to invite or force them to buy Bitcoin because what parents need to do is prepare pension security so they can pay for health insurance in hospitals and allowances so they can go on holiday to enjoy their old age. Investing is a risky thing, especially in Bitcoin so I don't recommend them putting money into it. With Bitcoin's volatility, my parents might be stressed looking at it, so the priority is preparation to enjoy old age with retirement funds.

You're not forcing them, you're convincing them to invest. Kind of like giving a pitch to get funding for your business like the show Shark Tank and Dragon's Den, that's what basically OP is trying to do in this scenario, preparing us for the scenarios by giving away the answer to the potential questions that your parents might ask, the only problem that I see in this cheat sheet is that they're all too technical to be fitted to the understanding of your parents, some of us if not all have parents that didn't grew up with a computer so they might get lost in the technical and computer jargons, and with the words that you're using for answers, it's probably a long-winded pitch which will only result with only one question being answered because they're going to ask for some of those terms that you've used, make the answers to those questions much more concise and you'd have a chance of success in your potential pitch to them.

[MissNonFall9]

The first thing that is needed to encourage not only parents but also someone you know about something is an example of walking in it yourself and succeeding in it. Because parents is quite old and convincing them to invest in a decentralized blockchain like cryptocurrency is relatively difficult. Especially my parents totally discourage them from taking any risks at this old age. Their patience is fairly thin and I may be able to deliver this long speech to them but those who listen to such a long speech will be fairly bored.

[m2017]

0. What is Bitcoin?

I can assure you that diving into the technical aspects of bitcoin will scare off not only your Dad (or Mom), but also most average people. These points should be stated very superficially.

0.1 Why does Bitcoin have value? Isn’t it just hot air?

Any currency (not just bitcoin) is given value by people’s faith in this asset.
Why does the dollar have value? It's just a piece of cut paper. There is a certain consensus in the world that the dollar has value, therefore, anywhere in the world people are ready to accept this currency. There is no actual, real, tangible value in any currency. Value is an abstract quantity and varies greatly depending on supply and demand.
The same goes for bitcoin, whose value is based on our belief in that value and that the value of the asset will increase over time. The dollar has the opposite effect - the value of a unit of this currency decreases over time.

1. Buying Bitcoin to protect yourself against inflation

This only works for long-term investing distances. Over short periods of time, this effect may be zero due to the high volatility of this asset.

[bitbollo]

my father bought bitcoin many years ago (of course I follow the whole process)
Honestly, I didn't insist on making this purchase but he decided independently.

It's my idea, but I believe that the best motivation to get someone to buy bitcoin is to make them understand the advantages of this technology. it is useless to talk about "earnings".
He could hit the wrong moment and have a sensational dump, or he could have a magical moment and suddenly make money.

This is one of the best method to pass wealth down the generations.
In a certain sense we are the first generation to use bitcoin.

I imagine that in many decades, it will be really difficult to acquire bitcoin directly except through financial instruments.
but it is not the same as having bitcoin directly

[Yatsan]

Question is why? Why would you want them to invest in this technology? For sure you know the risk present in this industry and that you're aware of their interest with investments. It would be okay to share your knowldge with them but to get them invest into it, is another thing. Personally I am a bit against with encouraging people towards this industry. One reason is avoiding the blame if ever there will be something negative to happen; keep in mind that there are still countries who are against this technology which should not leave us be too confident of things. Extreme volatility is another thing that could incure loss to the investor; we have different levels of risk appetite. At the end of the day, most likely if their engagement will yield to loss, you'd be a part of it. Again, sharing is different from encouragement.

[HideYourKeys]

omg I did not expect that many answers 

I have added a TL:DR edit, additionally, I do not expect for you guys to read the whole text, that is a baseline for my pitch, I would rather like to know if you guys have had any success on similar cases, and what is the reaction.

For instance, I have had some kind of success when gifting bitcoin, some poeple got interested, and some didn't, but it is another strategy.

Also, I do not want them to invest for my own benefit, I already handle everything on my own, I just want my loved ones to be aware of the whole picture, different from the one shown in the mainstream media

[GideonGono]

Don't force them to invest in something they don't know about, if you want them to invest them teach them about it.
Your pitch is perfect, explaining about Bitcoin stuff and all.
For me I don't really mind if they invest or not it is their money after all they could do what they want with it, and same goes to me.
We could only give them idea on where to invest their money, but we couldn't force them to invest it even if we believe on it.

[AnonBitCoiner]

As bitcoin is a popular currency many people have little knowledge about bitcoin so giving parents good advice about bitcoin may prevent them from believing it. Most people fear losing money I think it's better to invest yourself than to advise parents. Elderly people will not easily understand the good side of this coin they can always think negatively. Use your own discretion to buy bitcoin.

Older people are more focused on physical investment instead of digital investment so the parents will not easily give you money to put it into Bitcoin and also will not allow you to use your own money for such a purpose. Actually they believe that the things which we cannot see are not worthy and they cannot reach the Bitcoin source so they think that is not a good way of investment.

It is important to be noted to ask your parents about anything that you are investing in and if your parents do not allow you then don't do that because their knowledge is more than ours. If you still want to make Bitcoin investment then first convince your parents and then start investing.

[Dunamisx]

One simple thing that many lack is the way to make use of summary initiative and concluded on a thing than wasting time explaining what could have been easily summarized, if you're interested in teaching or inviting your parent to bitcoin, then start from somewhere within your own little effort in explaining to them what you have understand about bitcoin, refer them to the forum and guide them through as well, it may take a little more time and efforts to achieve all these, but you will succeeded in doing what you targeted on.

[uchegod-21]

How do you want your mom and dad to understand all these wall of text that you wrote. It will be boring to them and that alone can discourage anyone from listening to you the second time.

LOL... This was not how Op convinced his parents to buy bitcoin. He is just teaching us now to convince our own parents his way. If I am a parent and you bring this to my table, I'll definitely bounce it. This is the reason why older people always complain that bitcoin is too tedious and technical to understand. It all depends on the premise it was introduced to them.

Meanwhile, I know of a friend who doesn't find it difficult to convince his parents (especially the dad to invest. She did it to his dad more than twice and it ended that the project was a scam and her dad lost money. Yet, her dad still believe for other financial advces.

[Kristiyana]

Your explanation is very lengthy how can you give a newbie this Long explanation, well I don't like forcing someone to go into something that he don't even intend to do in the first place, except you seek for help from me, the reason why I always avoid that is because in terms of making investment risk is always involve so I don't want a situation whereby someone will keep blaming me for his Lost, because not everyone that can bare the risk. However I think investment is all about choice, if you are willing to bare the risk alone, because not everyone that is ready to go into crypto investment, That is why we don't need to force anyone into crypto investment.

[Rengga Jati]

Me?
So sorry, but I think that I will never make it. Because I really understand my parents' condition so far. So it is very unlikely that they will invest in Bitcoin. yeah, no problem. Let them enjoy their old age more comfortably and calmly without thinking about Bitcoin assets with all their fluctuations. What they do is just to breathe in the fresh air of the village and carry out daily activities that they like. Yes, that's their wish and I really appreciate it.

However, I don't want to generalize all old rooms like that, because their conditions are definitely different. If you want to convince your parents to invest in Bitcoin, make sure you understand the conditions and financial readiness of your parents. Both your mom and dad will usually tend to follow their child's wishes, even though they are sometimes quite at odds with what they really want. For this reason, we also encourage them to get to know Bitcoin in order to invest in it. unless they are very close to technology and are no strangers to Bitcoin. Then they also understand what Bitcoin is like, its fluctuations and various things related to risks. Parents will usually be very careful about the risks they take, so make sure you have a very strong reason, which is not in the form of promises that are too high or too sweet.

[Belarge]

Hey what are you upto? If we drag it so much while inviting or explaining Bitcoin to newcomers then they will just get confused and run away, even I could read your entire post.

We need to keep it simple and upto the point wherein we need to explain them about the decentralised P2P and its benefits and how people who have invested into Bitcoin have been profited and we can use historic pricing data to explain them about it.

It's not stressful but a little bit complicate when there's no evidence, show working is necessary. Persuading them to buy bitcoin ought to be very easy on our ends. We just need evidence and huge figures generated from the investment in bitcoin. For instance, showing your dad a car from the massive profits made from bitcoin, or even as far as getting a luxury home for yourself and dad knows you're extremely doing well, ofcourse he won't generate any doubt as he will hurrying concord to your suggestion of buying bitcoin.