Bitcoin is risky

[Son Of Blockchain (SOB)]

Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not.

Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying.

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.

As a Bitcoin enthusiast, you should be able to defend it instead of allowing people who got litte knowledge about Bitcoin confuse you about it, the first question you should've asked your friend was, is there any investment without risk? Every investment have their own risk factor and advantages, how to be successful in any is applying the risk management involved in it and if he applys the risk management involved in Bitcoin then he would be a successful Bitcoin investor.
 Secondly the Volatility of Bitcoin is what makes it unique, most top investors would tell you that you have to love the Dip if you want to excel in it and they're right cause over the years Bitcoin has set different heights and we are yet to witness it go back to the exact price it launched with rather what you'll see is an improvement after every Dip, I don't waste much time trying to argue or convince anyone about Bitcoin anymore but time would tell and they'll be forced to love it when they've understand and seen it's benefits.

[Dunamisx]

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.

One of the advantages of learning to do your own research is this, that even if one was misinformed about what bitcoin is, you would have seen it elsewhere the true identity of what bitcoin is, being made different from what you have been told earlier, and seeing a repeated information about bitcoin on different platforms shows on how true it is and consistent than when you're being contrary opinion, so many people were lazy in taking their own time to make findings, instead, they prefer someone doing that for them.

[Casdinyard]

Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not.

Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying.

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.

First off, duh, a massive no-brainer to not lie against people towards your favor. Besides, there's nothing in it for you if they do invest in bitcoin, the only one's who's going to profit or lose money off of their investments is them, and only them. Secondly, there are better ways to introduce crypto to people who are indifferent or against it, but it's always preferable to just shill cryptocurrencies you trust and stand behind with to people who already had brooding interest regarding cryptocurrency, that way you can bank on that pre-existent interest, and from there work towards making them do their own research, showing them the good with the bad of investing in crypto, so they could formulate educated decisions.

Everything is individualistic when it comes to investing in bitcoin, or cryptocurrency in general, so with that being said, let these people have their own thoughts and opinions, regardless if it is good or bad.

[LogitechMouse]

Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not.

Telling to you that Bitcoin is unstable and risky doesn't mean that he already has a bad image of Bitcoin. He's just telling the truth, and we know that Bitcoin is unstable and risky. It would be riskier if you're a newbie and you're lacking of knowledge still.

Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying.

Bitcoin being unstable or volatile can go both ways. Bitcoin's volatility can be beneficial for those who knows when to enter and when to exit and vice-versa. This is why I always say to newbies to focus on knowledge first because profits will always be there, but scammers will also be there ready to scam you, and the only way for you to prevent getting scammed is to equip yourself with information that will help you. It's good that you said to him to learn first. Some mislead the newbies unfortunately.

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.

I can't see any benefit from me if I will lie to people about what's cryptocurrency. I mean if there's anybody here in our community that wants to learn about cryptocurrency then I will give some of my free time to teach them. Say to them that there's risk in investing. Say to them that Bitcoin is risky, and volatile. Say to them that Bitcoin is a good investment only if you have the knowledge. At the end of the day, teaching others is very fulfilling, isn't it?

[TheUltraElite]

I get asked about crypto from friends and family and I maintain a neutral stance in it even though I am a bitcoiner myself. I understand that my mentality is different from theirs and they would not be able to get through the amount of new information needed to process to start into the bitcoin investment journey.

Hence I explain the pros and the cons and show them how its done. I never give opinions as to what is good or bad, rather I explain the scenarios. The types of scams happening in crypto and how to keep themselves safe.

I would also like to point out that most people get put off by such discussions, they just want quick bucks and hence I dont any of them actually putting money in crypto at the end of the discussion but only keeping themselves to traditional assets.

[Hyphen(-)]

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.

Do you think the explanation you give your friend is right?
I think he was not interested because of how you made him feel about the price of Bitcoin. Even though the Bitcoin market is volatile and unstable, Bitcoin investment is not bad because if your friend is not looking for a place to get quick money, he/she can invest their savings in Bitcoin for future reference.
Convincing someone to join Bitcoin is not necessary, just explain to them how it works and give them reference materials for their research, they will decide if to go with financial freedom or to keep given banks their money.

[knowngunman]

Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not.

Knowing that the bitcoin price is unstable and risky a bad image about bitcoin? Isn't that the truth and reality? I see nothing to defend here but to build your explanation on that. I think it would be very easy for you to school your friend about bitcoin since he already has a little knowledge of how risky and unstable it can be.

There's no point saying otherwise just to woo people to fall in love with bitcoin. Anything that deals with finance should be left for people to decide themselves whether it is worthy for them or not. Unless it is with like minds, I don't see any usefulness engaging with those who have no idea about cryptocurrencies talk more of feeding them with lies unless it's for learning purpose.

[aoluain]

For me its a matter of perspectives.

If someone is looking to buy Bitcoin and make a profit within say 6 months,
well I say that is risky

If someone with no experience is looking to start trading Bitcoin, thats risky

If someone is looking to sell everything they have to buy Bitcoin and HODL for
a year or two, thats risky


If someone is looking to buy Bitcoin and HODL for the long term, I dont see
that as risky.

If someone is looking to sell everything they do necessarily need to buy Bitcoin
with a medium to long term outlook, thats not risky to me.

He was confused at first because he heard that it was unstable and risky.

Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable.

You can enlighten him more by telling him that fortunately, with time, Bitcoin has less volatile price than past years and previous market cycles.

Correction drawdowns in Bull markets become smaller with time.
https://studio.glassnode.com/workbench/bf532ce2-a66b-4798-6deb-bf3ba7decc59

The chart by SquirrelJulietGarden shows the difference between short
term and long term

[Zaguru12]

Knowing that the bitcoin price is unstable and risky a bad image about bitcoin? Isn't that the truth and reality? I see nothing to defend here but to build your explanation on that. I think it would be very easy for you to school your friend about bitcoin since he already has a little knowledge of how risky and unstable it can be.

Yes there is no denying the fact the bitcoin price is unstable and risky but i think  i utterly understand why the OP needed to defend it probably it would be how the risk was actually been portrayed by the friend. There is absolutely nothing risk free, let’s take for example the most soughted metal which is Gold, isn’t Gold Also volatile, but what’s the degree of its volatility? Now isn’t Altcoin also risky? They definitely are risky too but to what certain degree?. Now the degree of bitcoin volatility is most at times overemphasized mostly by fudders and this could be the discussion OP’s friend might have drawn it to.

Although I would have left him to make is financial decisions but there some clarity that should be made when discussions like this arises so that potential investors do not get the wrong narrative, clearing the air while stating the fact is different from urging someone to invest in it

[Jewan420]

Knowing that the bitcoin price is unstable and risky a bad image about bitcoin? Isn't that the truth and reality? I see nothing to defend here but to build your explanation on that. I think it would be very easy for you to school your friend about bitcoin since he already has a little knowledge of how risky and unstable it can be.

There's no point saying otherwise just to woo people to fall in love with bitcoin. Anything that deals with finance should be left for people to decide themselves whether it is worthy for them or not. Unless it is with like minds, I don't see any usefulness engaging with those who have no idea about cryptocurrencies talk more of feeding them with lies unless it's for learning purpose.

Not to deny your point completely. Bitcoin is risky and harmful in many ways. But I don't see any reason to call it risky for everyone. If you trade or gamble with Bitcoin then Bitcoin is definitely bad for you. Bitcoin is risky because its value can never be volatile. Unstable conditions bring opportunities for the wise. Can you name one thing whose price is stable? Everything is priced more or less unsustainably. Gambling is always risky and sometimes leads to huge losses.

But if you can use Bitcoin properly then its volatile price will not affect you. You need to know about this and inform those who have negative thoughts about Bitcoin. This is all I can do to change their negative thinking about Bitcoin. If you hold Bitcoin long-term with DCA method, I can most guarantee that you will not be affected by the volatile price of Bitcoin and it will not be risky for you. Experts will advise you not to over invest money that you will need in the future or at any time. That means investing with money that you won't incur huge losses by losing. So proper use of Bitcoin is not risky. Gambling with Bitcoin is risky, investing is not.

[passwordnow]

There is no need to lie to people about crypto or explaining to them what Bitcoin is all about. To be honest, I am done with that era and when I was so vocal to anyone, friends, family, relatives and anyone that I talk to about Bitcoin, I was too talkative about it personally. But when I have realized that all of those efforts and talks that were initiated to me, it seems that it has became vague.

IMO, if you are too happy to talk about it in the public forum or someone whom you want to talk to, there's no need to lie. You tell all that you know or at least the basics that you're willing to share. But it is best to still be careful and avoid talks about how much you are holding because that's most of them are interested are. They all want to listen how much you are holding but when you ask them if they're going to invest, they'll shut their mouths.

And as another precaution, you don't open how much holdings you have to avoid being attacked with a $5 wrench attack or any kind of physical attack.

[AprilioMP]

Bitcoin is too big that most people don't know how to process it.

People can learn how to store bitcoin and use it for transactions very quickly. They don't have to sit down and code but only need to choose a good wallet to use with friendly interface like they use other applications nowadays. It's easy, not big, pressure or stressful to use Bitcoin or broadcast a Bitcoin transaction.

With so many wallet options available that we can use after going through the research process, for us, dealing with technical matters such as transactions has become a common thing to do while getting to know Bitcoin. Meanwhile, the process that you convey is the ease of using Bitcoin, if you choose the wrong wallet, then what we feel is an ease can become a problem.

I am also not someone who fully understands the advantages of Bitcoin, but I have been increasingly convinced that Bitcoin is something extraordinary whose scope is not only limited to price.

Bitcoin has advantages and disadvantages and it's unrealistic to say Bitcoin has no disadvantages.

I think the disadvantages of Bitcoin are almost non-existent even though they exist, although you also need to describe where the disadvantages are according to your knowledge.
Bitcoin is almost perfect in my opinion.

[Die_empty]

Recently I had to explain to a friend what I was focusing in on financially speaking and I brought up crypto, specifically bitcoin. He was confused at first because he heard that it was unstable and risky. I knew that he already has a bad image of bitcoin so there was an urge to defend bitcoin but in the end I did not.

Bitcoin and altcoins are not the same. It will be good to always differentiate between Bitcoin and altcoins when you are discussing crypto. I had to bring this up because your topic said, " Bitcoin is risky", but you are discussing crypto in the post content.

Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying.

Do not lie to people about what crypto is just so they would not think of it as something not worthwhile. Rather explain eagerly. I did this so that my friend would not worry about my financial state and if he ends up becoming interested in bitcoin then I would be glad to continue teaching him.

There is nothing to gain from lying about Bitcoin except you have the intention of benefitting from the person's investment in the sector. People should be told the true nature of crypto investment so that they can make the decision of investment or not. Bitcoin might be a risky investment but I think the profit is worth the risk.

[BABY SHOES]

Rather than convincing them with your explanation, you can give them this link to Bitcoin & Traditional Assets ROI (vs USD) with a table for ROIs of Bitcoin compares to Gold, S&P500. If they need visualization, you can introduce the ROI chart.

Indeed, the advantages provide a major attraction for Bitcoin. But remember there's an underlying technology, and that's also very important. For those who do not have mental and emotional control, Bitcoin investment will be a headache. Bitcoin investment requires more knowledge, as it relates to a wide range of Technology. Bitcoin will be a difficult investment for people who do not have the knowledge of today. In contrast to real investments such as property, gold, and land.

Moreover, bitcoin can be tarnished by the media so it will affect the mentality of its investors by thinking that bitcoin will not go up again, so for beginners it will be difficult to understand this because they already know early about bad news so it can affect their investment.

If they invest by having a basis of knowledge then he can last a long time even though the price drops he believes bitcoin will go back up after seeing many diagrams of the increase from the beginning until now so that it can distinguish from other assets.

Whereas they do not have basic knowledge, what exists is a lot of doubt and even anxiety for fear that bitcoin has no value anymore.

[Furious 7]

There are many wrong assumptions from beginners who really want to be in crypto but are not willing to take all forms of risks faced because the initial mindset about the views of some laymen and beginners about crypto is that they can get money instantly without any risk of loss. This is a common thing from the thoughts of some people because they always peg that bitcoin is a source of wealth quickly.

This is what must be improved in terms of mindset, especially when there are several colleagues or people around us who ask about bitcoin, we must strive to be someone neutral by providing input that bitcoin is definitely profitable if we can follow the process but on the other hand we also have to tell that this is a situation full of risks because we could lose the money we have when we are in bitcoin but do not know what bitcoin is like in terms of risk.
An understanding of the risks must be given from the start so that those who want to be in bitcoin understand that this will not be easy and if they have half-hearted intentions then it would be better not to be in it so as not to make them feel deceived by the false expectations they create themselves in the end.

[darkangel11]

It is volatile, but that's what an open market looks like. If you ever get asked about this tell the other person that stock market is not free. It's governed and manipulated and if people want to sell too much, they come and shut it down, not allowing you to trade at all. Bitcoin is not like that, it doesn't get shut down when it loses 10% in a day.
You're never forced to sell, just as you are not forced to buy. When the price doesn't feel right, just wait until it gets better. It always does!

[Baki202]

One of the advantages of learning to do your own research is this, that even if one was misinformed about what bitcoin is, you would have seen it elsewhere the true identity of what bitcoin is, being made different from what you have been told earlier, and seeing a repeated information about bitcoin on different platforms shows on how true it is and consistent than when you're being contrary opinion, so many people were lazy in taking their own time to make findings, instead, they prefer someone doing that for them.

Learning is the best you can do that can actually be of help to you, because you can not be empty headed and the only way you can know what  you are doing  is to have knowledge, what you hear about bitcoin is different from what people hear so when you have the knowledge, and when the knowledge is embedded in you that way you will be able to know things to avoid because their is a lot of risk when it comes to investing in bitcoin so the earlier the best you are fully aware of what you are doing. And their are people that enjoy deceiving people about bitcoin just because of the benefits they will get from it, either they want to collect money for tutor it will definitely be something they will benefit from, but if you have your own knowledge nobody can mislead you no matter what so knowledge is very very important, because it is when you don't have the knowledge you will fall victim of so many things.

[Ojima-ojo]

The risk in Bitcoin is a positive risk, and for sure Bitcoin is one risk that I can gladly introduce to anyone because, the only people that don't benefit from Bitcoin are those that take Bitcoin for short term and get rich quick scheme, all this have no place in Bitcoin and at such everyone should avoid making Bitcoin investment based on urgency or pressure for financial gain's.


Let not get things twisted, Bitcoin if for any reasons get to 0.99 cent today, and you did not sell, you have the faith that the price will still recover back to normal a d even go ATH.

[Nothingtodo]

It is known that investing in Bitcoin is completely risky, yet people invest in Bitcoin with risk. Even when you go for motorcycle driving but in a very risky environment if you get into an accident your life can be at risk. Similarly, to achieve anything in life, one must go through risky actions or else you cannot achieve success.

[CryptoHeadlineNews]

Because it was true. Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable. I realized that this does not necessarily have to be a bad thing especially if you are knowledgeable enough to minimize these risks. It was easy to get defensive but, in the end, I just explained to that friend that that is why it requires much attention and studying.

Thou, you made a good attempt, trying to convince someone to join the Bitcoin community, but for me, I must that your attempt wasn't good enough, because it's true that Bitcoin is volatile, but it has also been a better means of investment far better than fiat for the past 15yrs of it's existence, while secondly, what I expected you to have told your friend was that Bitcoin is not a Get Rich Quick scheme, of which he/she ought to have invest only an account they can always afford to lose, or rather an account they are sure won't be of need for a very long time frame, as Bitcoin is an asset you can only benefit more, the longer your investment plan. As the best way to have much profit from Bitcoin is by investing in it and leaving it for probably 5 to 10yrs.