Things to/they (should) know before talking someone into investing

[Finestream]

Talking about Bitcoin or referring a person into Bitcoin is ideal, but we ought to consider not alone talking about the peace/profitable part of the whole process but as well initiates conversations that can erase doubt, worries and unnecessary pressure from any intending Bitcoin investor.

If we are introducing someone to bitcoin, we should ensure thar we are not leaving some crucial aspect left undone, which means, there is a need for us to cover every aspect of investing in cryptocurrencies and this will have to include the risk and benefits altogether with the ways expected of us to know on how to avoid scams, once a newbie gets all these information, then they are to decide if they will continue or not with giving a try.

I don’t actually talk to other people about bitcoin most often, except for those who eagerly ask me about bitcoin and how to successfully invest on it. Of course, I have to tell to these people that bitcoin being a get rich quick is a big scam. No one gets rich with bitcoin in an instant, but a lot have lose huge amount in just a blink of an eye due to their greed that made them decide to invest without knowing bitcoin well first. And in all honesty, bitcoin is really a risky investment, so if you think you are still hesitate to invest due to fear of loss, I often suggest just don’t do invest in bitcoin because losing is really inevitable most especially for those who have weak hands and yet highly ambitious to gain instant rich with bitcoin.

[Alpha Marine]

there are some things you won’t want them to know since you just want to convince them to understand the concept of bitcoin investment. 

Aside from the fact that I don't want to be responsible for their losses, this is another reason I don't try to convince people. When you're just concerned about them investing, you keep the risk part away from them and this is what people who preach Ponzi schemes and shit-coins do. If I follow that route, ill feel like a fraud and I hate feeling like a fraud. Ponzi schemes and shitcoin advocates just want your money in their business or coins, so they wont tell you how risky it is, they might even tell you it involves no risk.

But when you educate them on how profitable bitcoin investment is and if they invest in it for a long time and also tell them the risks and every single aspect of bitcoin investment, I believe people will have an interest in investing. But telling them it's just a currency won’t make them believe in it that much, like when you tell them it's an investment or asset.

The way I see it, they should be able to be interested in Bitcoin as a currency before they can think of it as an asset. "Every currency can be an asset, so what's so different about this particular currency that would make me want to have it?". These are the kind of questions I expect them to ask themselves and these questions will lead them to research or at least come back to me and want to know more. If they don't ask those questions then they're not interested.

[Zaguru12]

Talking about Bitcoin or referring a person into Bitcoin is ideal, but we ought to consider not alone talking about the peace/profitable part of the whole process but as well initiates conversations that can erase doubt, worries and unnecessary pressure from any intending Bitcoin investor. The whole conversation should not just be one that is meant to intrigue the person's mind into investing, that is the reason why most investors now are getting a lot shivery once the market begins to go sideways from what they were told which made them to invest. Bitcoin investment isn't mandatory but optional and should be approached accordingly in a more safer space.

When people have profound love for a thing they usually just sweet talk about that thing to others same thing about bitcoin and cryptocurrency at large, if you go across how people share bitcoin narrative on social media you will definitely find out why we have lots of people still falling for FUDs during the bearish periods. Personally I tell people that it is just like gold and even so more volatile than it, if you hold for long you might benefit greatly from the returns but that also isn’t certain but one thing is you can have it as a store of value incase you’re look for where to save your funds.

Aside That the knowledge as to how wallet or its storage is should be done properly. Because one can have the mindset to hodl for long but might lose everything without the right wallet or storage knowledge.

[lovesmayfamilis]

he or she will last long in this Bitcointalk, only this idea, it will make beginners to understand so many things in the nearest future.

Not bad for advice from a newbie. I also think it is best to tell a person all the delights of investing in Bitcoin, telling some stories that happened to people who were somehow hasty in their decisions, by reading this forum. Many people who came to this forum did not understand anything about investing or Bitcoin. There was the word Bitcoin, or some news on the network, but what and how to do it specifically was quite difficult.
Therefore, we conclude, that it is easier to help a person by showing this forum than to explain why how, and when to start your acquaintance with Bitcoin. In addition to being very intrusive in your advertising, if such a "good" deed is not entirely successful, you, and only you, will listen to accusations. Therefore, provides people with information where they will make their own choices.

[Majestic-milf]

Eventually, the knowledge of Bitcoin will get to everyone but I don't really fancy telling someone about it, because how do I explain to someone who is used to paying in money at a bank that instead of depositing your fiat, you can trade it for bitcoin and store it in a wallet instead? It will be easily discarded as new generation shit and will not be given too much importance. Before telling anyone about Bitcoin (if I will) is to first check their patience level. Bitcoin is not for the weak minded and even though people are desperate to move away from the excessive control the bank can wield over your funds, it's not many that will be willing to switch from the traditional method to this digital currency.

[Spaceman1000$]

Talking about Bitcoin or referring a person into Bitcoin is ideal, but we ought to consider not alone talking about the peace/profitable part of the whole process but as well initiates conversations that can erase doubt, worries and unnecessary pressure from any intending Bitcoin investor. The whole conversation should not just be one that is meant to intrigue the person's mind into investing, that is the reason why most investors now are getting a lot shivery once the market begins to go sideways from what they were told which made them to invest. Bitcoin investment isn't mandatory but optional and should be approached accordingly in a more safer space.

Below are some ideals that should be considered when having Bitcoin as a digital investment option:

Bitcoin investment should at most be considered for the long term, the option should be made clear if the intending investor is ready to hold Bitcoin or he is coming in as a trader which wants those early profits.

Secondly, it is good letting them understand better about volatility, which is a mandatory phase of the Bitcoin market. Volatility is inevitable, it isn't a one way liner, it goes up and down without considering the investors choice of options whether to go in the DIP or Bull.

It is also letting off the shoulder for them to know that their portfolio is their priority and anything that happens to it lies as their responsibility whether they become unfortunate lossing all due to scam/hack or misplacement of private keys, all that happens shouldn't term Bitcoin as a failed investment but rather their incompetence to manage it.

Can also grab further outlines.

There is no better way of advising somebody to invest in Bitcoin than telling him the blatant truth about the uncertainty that will be experience at the long run which can as well be surmountable if you are patient with the process, but wanting to paint the whole process of investing and holding as a journey of milk and honey is a definite no no for me.

OP the point you've outlined for any intending investor are brilliant, however I would also want to chipping some thoughts as rewards the subject matter. A new investor should be mentally prepared for the process, as is a rigorous one, because if your well informed about your mental capability about long time investment is clear, then the price fluctuations and unnecessary speculation by naysayers won't be bothering you as you can easily see the future ahead.

[Obim34]

Eventually, the knowledge of Bitcoin will get to everyone but I don't really fancy telling someone about it, because how do I explain to someone who is used to paying in money at a bank that instead of depositing your fiat, you can trade it for bitcoin and store it in a wallet instead? It will be easily discarded as new generation shit and will not be given too much importance. Before telling anyone about Bitcoin (if I will) is to first check their patience level. Bitcoin is not for the weak minded and even though people are desperate to move away from the excessive control the bank can wield over your funds, it's not many that will be willing to switch from the traditional method to this digital currency.

I believe simple conversations leads to certain exposures, it is not something to go about looking for people to discuss about Bitcoin or preach about it, but during a friendly interaction that is relatively close about investing then such awareness about Bitcoin is yet in line to discuss. People believe information they get from physical discussions rather than what they get from the internet, so it's a huge favor to physically exposed them to it, giving them that option to decide whether they be part or not.

There has been various ways at which people got to be part of the Bitcoin community, not all got interested by reading about it online or on papers but a face to face conversation has planted enough Bitcoin investors in the market.

[aioc]

Just tell the beginners to concentrate on the rules and quality post in this forum, and he or she will last long in this Bitcointalk, only this idea, it will make beginners to understand so many things in the nearest future.

You are off-topic OP is not talking about how to have a good stay here in Bitcointalk but about investing in Bitcoin; the title is so apparent you drop without reading the title or the content of the thread, there should be prior knowledge about what Bitcoin is and how volatile the market is, before you encourage anyone to invest in Bitcoin.
The one you refer to investing should understand everything he needs to learn about investing in Bitcoin and let him decide for himself how much and the right time to invest, or you will get all the blame if he losses his investment.

[Rockstarguy]

Risk talk first 

They need to know, In fact make it ring more to thier ears that losing money is very high in crypto space, all the sweet talk about how much one makes is later maybe in a good market condition, many people who are not guided right will be pissed right now because they aren't even prepared for this type of market condition, the side ways is boring and not encouraging for such people, let them know and you will be free from unnecessary blames, don't forget that people like blaming others for their own actions.

Things you must let the newbies know.

1. Unstable price action.
2. Long term market condition, especially bear market.
3. Lots of patience as an investor.

End it with the fact that crypto isn't a get rich quick haven.

The risk aspect is what most beginners are not aware about, the only thing that they are told about bitcoin investment is the profit they would gain as profit. Beginners experience to get to know about risk as a surprise. Risk as the first talk with beginner beet way to get people to know about Bitcoin investment,  atleast this can prepare their mind well and to be prepared of what they will experience in the market,  nothing will come as a surprise. People are so interested in telling beginners the profit that can be gained to invest bitcoin just to make them to invest in bitcoin without letting them to know about the risk that is involved in the investment.

Before planning to go into any investment the most important thing that one needs to be aware of is the risk involved in it and not just only the profit. It is very possible for an investment to have a good profit in return but their are some risk that one is supposed to know about to be able to achieve profit. Without having the idea of risk in an investment can be easy way to lose money in the investment.

[Questat]

I don't advise people to invest in Bitcoin. I don't even mention it. Some people just want a place to invest their money and when they hear about a particular investment, they won't care about knowing about it provided they will make a profit from it. I do educate people about Bitcoin when I have the opportunity to, but I talk about it as a currency and not an asset. The only person I helped invest in Bitcoin was a friend of mine. After he understood the dynamics and risk and the fact that it's best as a long-term investment, he said he was ready to invest and I helped him out, today he does his investments himself. I helped him buy bitcoin when the price was in the 30k region so he's on the profit side currency.

I believe it's always paramount that whoever you're putting through understands the risk involved. it's very important. They also have to understand that you have no power to decide what direction the investment will go. This helps avoid a situation where the person blames you for their losses.

I may suggest people to get to know more about bitcoin if they’re interested to, but I don’t advise them to invest in bitcoin most especially if they aren’t comfortable losing their hard-earned money. Or else, they will only put the blame on me when they finally start to lose their money. And that’s exactly I want to avoid from happening.

Bitcoin is only for those who understand it well and those who never invest for greed. Because if they are only here thinking that bitcoin will eventually change their life’s position, that’s too far from making it happen, you need to lose a lot first before you end up with massive profits. And lastly, if you can’t be patient, you will never be a good bitcoin investor at all angles.

[Porfirii]

Talking about Bitcoin or referring a person into Bitcoin is ideal, but we ought to consider not alone talking about the peace/profitable part of the whole process but as well initiates conversations that can erase doubt, worries and unnecessary pressure from any intending Bitcoin investor.

If we are introducing someone to bitcoin, we should ensure thar we are not leaving some crucial aspect left undone, which means, there is a need for us to cover every aspect of investing in cryptocurrencies and this will have to include the risk and benefits altogether with the ways expected of us to know on how to avoid scams, once a newbie gets all these information, then they are to decide if they will continue or not with giving a try.

Even if we cover all these crucial aspects of investing in crypto, the fact is that we may still be responsible to some extent if the person is not cautious and goes too far with risky operations. It is easy to say "just in case I warned him/her", but the fact is that you can be blamed by others for necessarily contributing to that output.

That's why I don't like to talk about investing in crypto with other people, even close friends. In my case I have had positive results hodling for many years, but suffering a lot like when Bitcoin went back to 4K because of the covid, and not everybody is able to to bear with that or can afford to lose so much money.

Future is uncertain, and we are responsible of our own actions, but when we encourage others, even if we warn them, we share a part of that responsibility, IMO.

[serjent05]

Isn't it best to know the financial capability of the person first before talking them into Bitcoin investment?  Knowing the capability of the person to invest is the best way to save time.  We will only be wasting our time if we talk to the people who cannot invest.

Another thing is the person's interest.  We can't just barge into a conversation with other people about Bitcoin investment if they are not that interested.

If these two things are met then it is time to talk about Bitcoin investment and laying the needed information and materials for a successful Bitcoin investment.  We can lay the guideline stated in this article[1] when we start talking about investment.

But in honesty, I would rather keep myself away from talking to people about Bitcoin investment because it could backfire on us when things go wrong.  We can just give them some hints and let them do the research and decide the investment themselves.


[1] https://www.investopedia.com/terms/c/cryptocurrency.asp