Digital Bitcoin Classes Ongoing.

[Agbe]

After sometimes in my analogue bitcoin classes in some schools around my area. On the second quarter of last year, I received some calls from friends and relatives and others to teach them bitcoin online and I agree to teach them also asked them to invest. But many of them didn't invest after the classes, so what I am doing right now is to asked them invest some amount of money before I start the teaching. And in the process of the practical aspect of it, I will use the money to invest for them so they can be serious on the investment. And since some of them are Civil Servants and Unemployed combined I advised them to purchase weekly and monthly as DCA method of it.

Like before yesterday someone send me N100k which is equivalent to $60 as of then exchange rate and I invested for her at the rate of $100k for 1 BTC.



I always explained both the risks and the benefits in the class so everyone is aware. In most time we use google meet for the virtual meeting (classes) for easy presentation and Whatsapp for chatting classes because meet consume Internet data.and not all the participants can buy enough Internet data to browse. My friend sister at UK also chatted me up to teach her and we did that class last year too. And base on the technology, online classes are more interesting than offline School Classes.

OmegaStarScream, bitmover, apogio, JayJuanGee, tranthidung, NeuroticFish, Pmalek, hugeblack, Lucius, RickDeckard, philipma1957, fillippone, NotATether, Charles-Tim, BlackHatCoiner, ABCbits, hosseinimr93 and Sceptical Chymist, I will pm you for more technical knowledge.

Some of the classes I have updated here.
https://bitcointalk.org/index.php?topic=5405990.msg60555094#msg60555094
https://bitcointalk.org/index.php?topic=5403925.0

[Russlenat]

It’s okay to charge a fee for educating people about investments, but make sure you’re giving them the whole picture, not just the positive side. Also explain the risks of investing in Bitcoin because there’s no guarantee that holding long-term will always be profitable. That’s what we believe here, but not everyone has the same patience, especially when they experience a bear market. They might panic and make rash decisions.

If that scenario happens, like the price dumps and they start blaming you. what will you say? Since they paid for your advice, they might expect everything you said to come true or think they’re guaranteed to benefit from your guidance. It’s something to think about.

[BIT-BENDER]

Lovely idea teaching people about Bitcoin mate. I really commend you for that and this would really go along way on helping the adoption of Bitcoin.
But I don't think investing for someone into Bitcoin without their consent is actually the right way to go. The financial sector is one place you ought to be very careful. I would rather suggest you be patient with them keep in giving them the much needed information they need and with time they can be able to give their consent to Investing.

[buwaytress]

Would never tell anyone to buy coins, certainly not with my help, nor promise profit (which you did). That aside, I have to ask: why did you invest it for her? Why not teach her to open her own account, and how to buy her own coin? Gotta teach a man to fish, not buy the fish from the market for him, no?

[Fiatless]

Great work. People who help in spreading Bitcoin awareness should be encouraged. It is better to teach them about Bitcoin and allow them to make the decision of investing or not. It is not everybody in your class that will be willing to invest.

I am more comfortable with online learning than teaching them physically. I am interested in my security because most people think that all Bitcoin investors are rich. There has been news of how some crypto investors were attacked and robbed of their coins.     

[Maslate]

Would never tell anyone to buy coins, certainly not with my help, nor promise profit (which you did). That aside, I have to ask: why did you invest it for her? Why not teach her to open her own account, and how to buy her own coin? Gotta teach a man to fish, not buy the fish from the market for him, no?

Completely agree with you buwaytress .

@Agbe , when you’re encouraging people to invest in Bitcoin and charging a fee for it, it doesn’t look good because it’s like you’re guaranteeing their investment will grow. For sure you have seen how Bitcoin’s cycle works, it’s still unpredictable, which is why it’s called a speculative market. It’s tricky because the market isn’t bullish every day, and there are always risks involved. Setting the right expectations is important to avoid misleading anyone.

[Agbe]

Would never tell anyone to buy coins, certainly not with my help, nor promise profit (which you did). That aside, I have to ask: why did you invest it for her? Why not teach her to open her own account, and how to buy her own coin? Gotta teach a man to fish, not buy the fish from the market for him, no?

Completely agree with you buwaytress .

@Agbe , when you’re encouraging people to invest in Bitcoin and charging a fee for it, it doesn’t look good because it’s like you’re guaranteeing their investment will grow. For sure you have seen how Bitcoin’s cycle works, it’s still unpredictable, which is why it’s called a speculative market. It’s tricky because the market isn’t bullish every day, and there are always risks involved. Setting the right expectations is important to avoid misleading anyone.

I don't know if you understand me. I don't charge any fee from them but I asked them to pay any amount they can afford to start the investment. Which I am using to invest for them for them to be serious. For proper understanding I will edit that clause. Again I am not taking anything from them please don't misunderstood me.

[Fiatless]

Would never tell anyone to buy coins, certainly not with my help, nor promise profit (which you did). That aside, I have to ask: why did you invest it for her? Why not teach her to open her own account, and how to buy her own coin? Gotta teach a man to fish, not buy the fish from the market for him, no?

Completely agree with you buwaytress .

@Agbe , when you’re encouraging people to invest in Bitcoin and charging a fee for it, it doesn’t look good because it’s like you’re guaranteeing their investment will grow. For sure you have seen how Bitcoin’s cycle works, it’s still unpredictable, which is why it’s called a speculative market. It’s tricky because the market isn’t bullish every day, and there are always risks involved. Setting the right expectations is important to avoid misleading anyone.

I don't know if you understand me. I don't charge any fee from them but I asked them to pay any amount they can afford to start the investment. Which I am using to invest for them for them to be serious. For proper understanding I will edit that clause. Again I am not taking anything from them please don't misunderstood me.

I believe you created the thread to get input from the community to enable you to get the best results from from noble effort. It would have been better if you teach them about Bitcoin and allow them to invest by themselves. Any of them who sees Bitcoin as a good investment will invest, they don't need to be compelled.

You can simply guide them on how to download wallets, keep the seed phrase safe, fund their wallet and protect it. Instead of going through the complicated process of asking them to invest through you. Calculating expenses such as transaction fees and profit can be complex. They should have personal  Bitcoin wallets and be their bank.

Keep up the good work.

[Agbe]

I believe you created the thread to get input from the community to enable you to get the best results from from noble effort. It would have been better if you teach them about Bitcoin and allow them to invest by themselves. Any of them who sees Bitcoin as a good investment will invest, they don't need to be compelled.

You can simply guide them on how to download wallets, keep the seed phrase safe, fund their wallet and protect it. Instead of going through the complicated process of asking them to invest through you. Calculating expenses such as transaction fees and profit can be complex. They should have personal  Bitcoin wallets and be their bank.

Keep up the good work.

I am teaching only those who are serious and not those who thought bitcoin investment is a way of get rich quick scheme. I have thought a lot of people but it is only few investing so not to waste my effort I asked those who are serious to invest them we start the proper classes from there. And those who have obey the instructions are doing well in the industry. It is now part and parcel in my teaching work so I am enjoy doing it. I don't charge anything but for free.

[EluguHcman]

so what I am doing right now is to asked them invest some amount of money before I start the teaching. And in the process of the practical aspect of it, I will use the money to invest for them so they can be serious on the investment. And since some of them are Civil Servants and Unemployed combined I advised them to purchase weekly and monthly as DCA method of it.

You actually did a good job but it is like persuading then to invest probably at their unreadiness.
I also think it is too risky of you making proving them practically to how lucrative investing on Bitcoin really is with a real fund.
You would had probably illustrated to them the feasibilities between short term and long term benefits and risks of long and short term investment goals.
Then probably have a demo to run your practical for them if need be.
 

Still all good too.  But then let them be aware about selling on duress or impatient could lead to sells at lost because not anytime you want to sell your Bitcoin that you could stand to secure your capital. Specifically on short terms.

[Pmalek]

...I will pm you for more technical knowledge.

Instead of PMing users individually, it's better if you ask your questions publicly either in this thread or any other. No matter how much knowledge or experience any one individual has, they might still suggest or say something that is wrong or there could be a better way to do things. Keep the discussion public. That way you will have more people checking the answers and being on the lookout for mistakes.

[Odusko]

Well, you are doing well in giving back to your close community in terms of knowledge about Bitcoin investment from the look of things, you already have everything well worked out since you mentioned that you going to contact other forum members for help on technical aspects, but the big question is, do Bitcoin holdings need technical knowledge, if one can simply know how to protect your wallet and security, it ok and good to go, without having to border yourself so much about technical assistance.

[Maslate]

Would never tell anyone to buy coins, certainly not with my help, nor promise profit (which you did). That aside, I have to ask: why did you invest it for her? Why not teach her to open her own account, and how to buy her own coin? Gotta teach a man to fish, not buy the fish from the market for him, no?

Completely agree with you buwaytress .

@Agbe , when you’re encouraging people to invest in Bitcoin and charging a fee for it, it doesn’t look good because it’s like you’re guaranteeing their investment will grow. For sure you have seen how Bitcoin’s cycle works, it’s still unpredictable, which is why it’s called a speculative market. It’s tricky because the market isn’t bullish every day, and there are always risks involved. Setting the right expectations is important to avoid misleading anyone.

I don't know if you understand me. I don't charge any fee from them but I asked them to pay any amount they can afford to start the investment. Which I am using to invest for them for them to be serious. For proper understanding I will edit that clause. Again I am not taking anything from them please don't misunderstood me.

I misunderstood earlier, sorry about that, but it's pretty clear you're asking for money from them to invest. It still seems risky because you might end up violating the law, like soliciting money for investment. Although your intentions might be good, just be careful because the law is very clear on this.

That being said, I still think that in the long run, you might get blamed if the Bitcoin market turns bearish. These people who give you money might not know much about it, so they delegate their decisions to others. If things go south, they might panic and blame you, which could cause you stress. This is just a possible scenario, though - it’s up to you to take it as advice or not.

[NeuroticFish]

so what I am doing right now is to asked them invest some amount of money before I start the teaching. And in the process of the practical aspect of it, I will use the money to invest for them so they can be serious on the investment. And since some of them are Civil Servants and Unemployed combined I advised them to purchase weekly and monthly as DCA method of it.

If I understand it right, there's no pressure on what amount to invest, which is really cool.
And I hope that you have by now all the experience/knowledge you need to avoid overpaying for withdrawals in case of DCA.

Like before yesterday someone send me N100k which is equivalent to $60k as of then exchange rate and I invested for her at the rate of $100k for 1 BTC.

Wow, that's quite an amount!
I surely hope that this guy will have the patience to get proper ROI and will not panic sell. And I also hope that his coins are in a proper safe storage, with proper offline backups and so on, even if maybe he doesn't know yet why.


I am, however, proud of what you're achieving (and it's not related to this unexpectedly big investment).

[Mia Chloe]

Would never tell anyone to buy coins, certainly not with my help, nor promise profit (which you did). That aside, I have to ask: why did you invest it for her? Why not teach her to open her own account, and how to buy her own coin? Gotta teach a man to fish, not buy the fish from the market for him, no?

Yes I do agree with your point buwaytress. We are currently in a digital era and as a result crypto isn't pretty much a new and odd topic to anyone especially bitcoin with it's hype every now and then. And that is to say that virtually everyone is aware of bitcoin and crypto currencies in general and as a result have access to information concerning them.

What I actually fancy is fixing wrong ideas and information that people often pick up from social media and the internet as a whole especially about how easy and rosy it is to invest in crypto. Convincing people to invest is not the best option because you often end up as a "blame holder" especially if it eventually goes sideways. What's best is informing them especially about security and privacy.

[Alphakilo]

...I will pm you for more technical knowledge.

The knowledge you think you will get from the PM to those members that you aready called will be useful to other people here.

Create a topic on it and ask for their input that way all of us will learn and even make meaningful contributions to it. We can even ask some questions that will be useful to everyone. Kindly think about it. As for your classes, I think it is a good idea even if people have to pay for it. Paying for knowledge makes people to be serious and shows committement to their personal growth. Even when they don't pay for this knowledge through a class, they also pay for it when they buy books on bitcoin.

[Baki202]

Would never tell anyone to buy coins, certainly not with my help, nor promise profit (which you did). That aside, I have to ask: why did you invest it for her? Why not teach her to open her own account, and how to buy her own coin? Gotta teach a man to fish, not buy the fish from the market for him, no?

Even me personally I will not advise anyone to invest in bitcoin or any other coin  because we are different especially how we handle things, and there people that will act as if you are the one controlling bitcoin price and they are always asking silly questions about bitcoin and when the price is going to go up and when it comes to situation like this, even when you tell them about bitcoin you should make it clear how the business is run so that they don't expect to much from bitcoin when you invest there is no much to worry about as along as you can have patience. And when you teach them how to how to buy them self and make research them self then they will be able to understand the purpose of investing and how serious this shit can be serious, when they do every shit them self won't be anything to worry about.

[Agbamoni]

Wow, that's quite an amount!

It's not a huge amount in their local currency. He meant to say 60K in Naira. Not 60k dollars, that was quite a mistake from Agbe.

Like before yesterday someone send me N100k which is equivalent to $60k as of then exchange rate and I invested for her at the rate of $100k for 1 BTC.

Am not a financial expert but why do I feel that the idea of taking the money to invest for them is wrong? If you teach them as you claim, then a week or two is enough for them to learn how to buy and invest themselves. If the reason for investing is to make them serious in the class, then you can take a small fee of 15k which you will return to them after a week they have learned and invested then you can continue the teaching from there. There are several disadvantages to taking the money to invest in them. Paraventure things don't go to their expectation you might be blamed for it. Also, imagine a scenario where a student chooses, they don't want to learn anymore or invest anymore, and they want their 60k back will you give them the exact amount if the price of Bitcoin has gone down from the original price you bought it?

Anything you are doing let the ball be in their court so they won't blame you for anything. Humans can be very unpredictable when it comes to things that has to do with money.

[Agbe]

Snip

I don't know if you really captured my message there. I said again and again. I have many had come to learned and invest and I would taunt them everything but at the end they give up and told me that they have used the money for another thing and they forgot about bitcoin investment making my efforts to be wasted. So now I told them to go invest first before starting the classes and we use the investment ha a practical classes for them to understand more. Please can you read what has been discussed in the image. Before I even  teach anyone, I explained both the risks and the benefits to them and they have to decide to invest or not. And from the image I displayed. You can see that the person invested for long term and she game me N100k to invest which I invested for her and send the coins to her wallet. The time when she started the investment bitcoin price was $100k  and now the price is $92k but she is not both. She said, she will still add more at the end of the month. Please understand the Op before commenting.

As for the $60k, as you said it was a mistake. And it was written $60 which is equivalent to #100k in my local currency as of the time of the investment. Thanks for the notification.

[Samlucky O]

After sometimes in my analogue bitcoin classes in some schools around my area. On the second quarter of last year, I received some calls from friends and relatives and others to teach them bitcoin online and I agree to teach them also asked them to invest. But many of them didn't invest after the classes, so what I am doing right now is to asked them invest some amount of money before I start the teaching. And in the process of the practical aspect of it, I will use the money to invest for them so they can be serious on the investment. And since some of them are Civil Servants and Unemployed combined I advised them to purchase weekly and monthly as DCA method of it.

Like before yesterday someone send me N100k which is equivalent to $60 as of then exchange rate and I invested for her at the rate of $100k for 1 BTC.

Well I must say it's a welcome development. You know majority of people in the society are left behind in times of information about Bitcoin or Blockchain technology, so many are ready to learn but has no people to educate them, and because of this reason of lack of proper orientation has made most people to have wrong mentality about Bitcoin. Some thinks that Bitcoin is a get rich quick scheme and others sees it as a scam, ut having a right information will make them change their mentality and it will boost Bitcoin adoption in the country. I must confess it's a nice initiative. You should also do well to let them know the penalty of "not your key not your coin" so that they will handle their seed phrase carefully.