Bitcoin Forum
July 15, 2026, 07:17:02 PM *
News: Latest Bitcoin Core release: 31.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 [17]  All
  Print  
Author Topic: What should you know before recommending Bitcoin to a friend?  (Read 4107 times)
d5000 (OP)
Legendary
*
Offline

Activity: 4704
Merit: 10896


Decentralization Maximalist


View Profile
July 12, 2026, 11:34:56 PM
 #321

@GazetaBitcoin: I've linked all translations now (I hope so).

In the German translation thread there was an interesting answer by @jahead, which I'll integrate into the OP:

In short:

- He'd recommend Lightning and layer 2's for small payments.
- Take into account specific kinds of scams, like dust attacks, clipboard hacking and phishing. One scam I hadn't so much "on my radar", at least in the crypto space, is fake support, i.e. people pretending to be support staff and requesting addresses.

Perhaps his first tip is more for advanced users for now, but anyway it's not a bad advice.

If there are other translation threads where good tips are shared in the answers, y'all can feel free to post and link them here -- translate them to English please. (Be aware though that a lot of tips have already been mentioned. In the last two pages of this thread I haven't read anything new.)

███████████████████████████
███████▄████████████▄██████
████████▄████████▄████████
███▀█████▀▄███▄▀█████▀███
█████▀█▀▄██▀▀▀██▄▀█▀█████
███████▄███████████▄███████
███████████████████████████
███████▀███████████▀███████
████▄██▄▀██▄▄▄██▀▄██▄████
████▄████▄▀███▀▄████▄████
██▄███▀▀█▀██████▀█▀███▄███
██▀█▀████████████████▀█▀███
███████████████████████████
.
.Duelbits PREDICT..
█████████████████████████
█████████████████████████
███████████▀▀░░░░▀▀██████
██████████░░▄████▄░░████
█████████░░████████░░████
█████████░░████████░░████
█████████▄▀██████▀▄████
████████▀▀░░░▀▀▀▀░░▄█████
██████▀░░░░██▄▄▄▄████████
████▀░░░░▄███████████████
█████▄▄█████████████████
█████████████████████████
█████████████████████████
.
.WHERE EVERYTHING IS A MARKET..
█████
██
██







██
██
██████
Will Bitcoin hit $200,000
before January 1st 2027?

    No @1.15         Yes @6.00    
█████
██
██







██
██
██████

  CHECK MORE > 
ChicksX, Inc
Newbie
*
Offline

Activity: 6
Merit: 0


View Profile
July 13, 2026, 03:07:00 AM
 #322

Can you add something? Good tips will be merited and linked in the OP!
Here are things i can think of to add to the existing list

KEEP YOUR COINS SEPARATE: When you're investing in Bitcoin always avoid mixing someone's funds with you investment, it makes life easier and avoid stories that will touch the heart.
(....)
I don't find this relevant. How come you will mix your funds with other people's? Like in your personal Bitcoin wallet? And someone asks to store their Bitcoin with your own wallet?
Why just tell them they can create their own wallet so they are the only one has access to it and they have full control to their funds.

I think the point is less about literally mixing coins in the same wallet, and more about not becoming an informal custodian for friends or family.

When someone is new, they may ask you to “just hold it for me” or “do the transaction for me.” That can create problems later if the price drops, they lose trust, they forget what they agreed to, or something goes wrong with the wallet.

If we recommend Bitcoin to someone, the better approach is to help them understand how to create their own wallet, back up their own seed, and take responsibility for their own funds.

Teaching is fine. Holding or managing their coins for them is where the risk starts.

Do you think it is better to help beginners hands-on, or only explain and let them do every step themselves?
Marvelockg
Sr. Member
****
Offline

Activity: 966
Merit: 455



View Profile
July 13, 2026, 08:36:35 AM
 #323

Can you add something? Good tips will be merited and linked in the OP!
Here are things i can think of to add to the existing list

KEEP YOUR COINS SEPARATE: When you're investing in Bitcoin always avoid mixing someone's funds with you investment, it makes life easier and avoid stories that will touch the heart.
(....)
I don't find this relevant. How come you will mix your funds with other people's? Like in your personal Bitcoin wallet? And someone asks to store their Bitcoin with your own wallet?
Why just tell them they can create their own wallet so they are the only one has access to it and they have full control to their funds.
Do you think it is better to help beginners hands-on, or only explain and let them do every step themselves?
why should you go to the extent of managing a beginners wallet for them when you can teach them and allow them do so themselves? no matter how naïve and inexperience the investor is, if he can not take up the single responsibility of seeing his coin at his end, you are going to be putting on yourself a burden you will eventually regret ever accepting.

The reason why some investors are pressured by beginners they brought into bitcoin investment is because of the narrative they painted to the newbies. when you over hype bitcoin and talk more on the positives of bitcoin without necessarily looking at the negatives that comes from it in terms of the fact that they need to be patience in their investment, they will make it look as though you are the one that holds the key to their success in their investment journey.

d5000 (OP)
Legendary
*
Offline

Activity: 4704
Merit: 10896


Decentralization Maximalist


View Profile
July 13, 2026, 06:30:31 PM
 #324

I think the point is less about literally mixing coins in the same wallet, and more about not becoming an informal custodian for friends or family.

I had interpreted the "keep coins separate" tip as the classic recommendation that you should not mix funds from different provenance on the same address. That's mainly for privacy reasons, and to avoid that a lot of coins become "tainted" when you for example in a P2P trade get some coins with a worse history. Also it's useful if you have larger funds to hold them in separate addresses so no malicious party can know the amount you hold (and plan a hack or $5 wrench attack).

But Joy-maker could indeed been a bit clearer what he meant there. Smiley Reading the post again it's indeed possible he meant something like an investment in a friend group or an extended family, where everybody claims that he owns a part of the coins, but without separate keys/addresses. This of course should be avoided, it could be justified only if you are a couple and both of you know exactly what you're doing. I didn't know this was even a thing, honestly Smiley

███████████████████████████
███████▄████████████▄██████
████████▄████████▄████████
███▀█████▀▄███▄▀█████▀███
█████▀█▀▄██▀▀▀██▄▀█▀█████
███████▄███████████▄███████
███████████████████████████
███████▀███████████▀███████
████▄██▄▀██▄▄▄██▀▄██▄████
████▄████▄▀███▀▄████▄████
██▄███▀▀█▀██████▀█▀███▄███
██▀█▀████████████████▀█▀███
███████████████████████████
.
.Duelbits PREDICT..
█████████████████████████
█████████████████████████
███████████▀▀░░░░▀▀██████
██████████░░▄████▄░░████
█████████░░████████░░████
█████████░░████████░░████
█████████▄▀██████▀▄████
████████▀▀░░░▀▀▀▀░░▄█████
██████▀░░░░██▄▄▄▄████████
████▀░░░░▄███████████████
█████▄▄█████████████████
█████████████████████████
█████████████████████████
.
.WHERE EVERYTHING IS A MARKET..
█████
██
██







██
██
██████
Will Bitcoin hit $200,000
before January 1st 2027?

    No @1.15         Yes @6.00    
█████
██
██







██
██
██████

  CHECK MORE > 
dzonikg28
Hero Member
*****
Offline

Activity: 1554
Merit: 523



View Profile
July 13, 2026, 07:15:33 PM
Merited by d5000 (2)
 #325

I think the point is less about literally mixing coins in the same wallet, and more about not becoming an informal custodian for friends or family.

I had interpreted the "keep coins separate" tip as the classic recommendation that you should not mix funds from different provenance on the same address. That's mainly for privacy reasons, and to avoid that a lot of coins become "tainted" when you for example in a P2P trade get some coins with a worse history. Also it's useful if you have larger funds to hold them in separate addresses so no malicious party can know the amount you hold (and plan a hack or $5 wrench attack).

But Joy-maker could indeed been a bit clearer what he meant there. Smiley Reading the post again it's indeed possible he meant something like an investment in a friend group or an extended family, where everybody claims that he owns a part of the coins, but without separate keys/addresses. This of course should be avoided, it could be justified only if you are a couple and both of you know exactly what you're doing. I didn't know this was even a thing, honestly Smiley

You should know very, very well what you are doing when you share keys ever.  Cool It is not like sharing a bank account because when it gets hacked, you either never know about it because the bank compensates for the damage before you realize because they have a reason to save their reputation or it is rather easily traceable where the money went and who authorized a transfer.

Imagine you have a a stable relationship with your spouse, share all the key details, everyone is ok with it, but for whatever reason arguments are more common, it is not as much harmony as before and then the wallet gets hacked. I don't want to be in the shoes of those partners especially when the mood was down for some time, maybe little incidents happened, maybe even one partner cheating on the other. I think if that happens, you probably never really know what happened.

Sharing an address or having someone set up a wallet for you is a bad idea. It can be this one stupid coincidence that nobody intentionally made a mistake, yet a mistake happened and is exploited by a third party and then it is not only the money that is gone, but the relationship too. In these cases it's essentially impossible to prove innocence unless there is some IT forensic expert involved and I think even then it still can never be proven with absolute certainty. 

tabas
Hero Member
*****
Offline

Activity: 3794
Merit: 841


NO DEPO CODE VEGAR7, NO KYC Casino


View Profile WWW
July 14, 2026, 09:56:37 AM
Merited by d5000 (2)
 #326

When buying a hardware wallet, make sure to purchase it on the official website/manufacturer of the chosen hardware wallet brand. If not ordering from the official website, then read their official resellers because all of them have those authorized official resellers that are listed on their website. Because that's easier for the logistics if it's an authorized reseller for your country. It's best to avoid purchasing from online ecommerce stores like amazon, ebay, etc. because in some cases there have been pre-seed generated already which is dangerous to anyone who's not aware of that.

██████
██
██

████████████████
███████████████
█████████████
█████████████▄▄████▄▄████▄▄███████▌██▄▄████▄██
████████████▄██▀▀▀▀██▄██▄███▀███████▄██▀▀▀▀███
██████████▐██▄▄▄▄▄▄██▌▐██▀███████▌▐███████▐██
████████████▐██▀▀▀▀▀▀▀▀▐██▄███████▌▐██▄████▐██
█████████████▀██▄▄▄▄█████▀███▄▄▄██▀██▀██▄▄▄▄███
██████████████▀▀▀▀▀▀██████▀▀▀▀▀▀▄▌███▀▀▀▀▀▀▀
████████████████████████████▄███▄██
███████████████████████████▀█████▀










██
██
██████
▄▄███████▄▄
▄███████████████▄
▄███████████████████▄
▄█████████████████████▄
▄███████████████████████
████████████████████████
█████████████████████████
████████████████████████
▀███████████████████████▀
█████████████████████▀
▀███████████████████▀
▀███████████████▀
▀▀███████▀▀
 
  150 FS NO DEPOSIT BONUS ..... Subscribe to Our Telegram ( > ) .....   PLAY NOW   
Delaforetnoire
Sr. Member
****
Offline

Activity: 499
Merit: 251


View Profile WWW
July 14, 2026, 11:32:51 AM
 #327

It's best to avoid purchasing from online ecommerce stores like amazon, ebay, etc. because in some cases there have been pre-seed generated already which is dangerous to anyone who's not aware of that.
Yes. If the reseller is officially available, you can buy from them but according to my personal opinion, it seems that buying these wallets directly from the official website will be secure. Wallets are very important for us, so it is important to buy authentic wallets. Buying anything wallet-related from Amazon or e-commerce stores seems like spam, so it is better to avoid these when buying wallets.
Lida93
Hero Member
*****
Offline

Activity: 1540
Merit: 785


View Profile WWW
July 14, 2026, 04:34:27 PM
 #328

Do you think it is better to help beginners hands-on, or only explain and let them do every step themselves?
You and I already knows what could be the next reaction of a newbie if you're standing to help them hands-on, you don't want to be blamed for any price, therefore the latter is the recommended safe practice when helping a newbie learn about bitcoin, do the teaching and let them do the real-use after watching you teach. In that way they know everything was done by them and a sense of responsibility is already groomed.
Berry2d
Sr. Member
****
Offline

Activity: 728
Merit: 264


With God all things are possible


View Profile
July 14, 2026, 09:49:46 PM
 #329

Everything on earth has some necessary information required before getting involved in it and same also is applicable to bitcoin.  All involved in bitcoin never get involved directly without having some important knowledge about it, some of the required knowledges are: understanding the operational methods of bitcoin, knowing how to secure our assets on the process of investment,  finding the best wallet required for saving our assets and so on. To me i started investing after I had detailed knowledge about how to secure my asset after investment, to me then it was very difficult snd scarry until I found out my first investment was secured and save till now that I have learnt much

tabas
Hero Member
*****
Offline

Activity: 3794
Merit: 841


NO DEPO CODE VEGAR7, NO KYC Casino


View Profile WWW
July 14, 2026, 10:14:39 PM
 #330

It's best to avoid purchasing from online ecommerce stores like amazon, ebay, etc. because in some cases there have been pre-seed generated already which is dangerous to anyone who's not aware of that.
Yes. If the reseller is officially available, you can buy from them but according to my personal opinion, it seems that buying these wallets directly from the official website will be secure. Wallets are very important for us, so it is important to buy authentic wallets. Buying anything wallet-related from Amazon or e-commerce stores seems like spam, so it is better to avoid these when buying wallets.
Buying directly from the manufacturer is the better choice. But if there's some logistics problem, it's okay to purchase it through their resellers since they have an official list of who are their resellers for each country. It's a safe method and I've done that sometime although I've also made a purchase through official manufacturer and it took some days. Buying on those ecommerce sites, there's the risk if the newbie doesn't have an idea about the preseeded hardware wallets.

██████
██
██

████████████████
███████████████
█████████████
█████████████▄▄████▄▄████▄▄███████▌██▄▄████▄██
████████████▄██▀▀▀▀██▄██▄███▀███████▄██▀▀▀▀███
██████████▐██▄▄▄▄▄▄██▌▐██▀███████▌▐███████▐██
████████████▐██▀▀▀▀▀▀▀▀▐██▄███████▌▐██▄████▐██
█████████████▀██▄▄▄▄█████▀███▄▄▄██▀██▀██▄▄▄▄███
██████████████▀▀▀▀▀▀██████▀▀▀▀▀▀▄▌███▀▀▀▀▀▀▀
████████████████████████████▄███▄██
███████████████████████████▀█████▀










██
██
██████
▄▄███████▄▄
▄███████████████▄
▄███████████████████▄
▄█████████████████████▄
▄███████████████████████
████████████████████████
█████████████████████████
████████████████████████
▀███████████████████████▀
█████████████████████▀
▀███████████████████▀
▀███████████████▀
▀▀███████▀▀
 
  150 FS NO DEPOSIT BONUS ..... Subscribe to Our Telegram ( > ) .....   PLAY NOW   
d5000 (OP)
Legendary
*
Offline

Activity: 4704
Merit: 10896


Decentralization Maximalist


View Profile
July 14, 2026, 11:02:53 PM
 #331

It is not like sharing a bank account because when it gets hacked, you either never know about it because the bank compensates for the damage before you realize because they have a reason to save their reputation or it is rather easily traceable where the money went and who authorized a transfer.
Yes, I sort of agree with this. I would normally argument against sharing accounts even in families and couples, with the exception the relationship is really trusted. There are such relationships. And even in this case, it could be a good idea to agree on a sort of safety net.

For example, instead of having one key for both, a multisig account made from two wallets with distinct seeds you regularly renew (to avoid it being exposed if one or both parties has better or worse knowledge) could be an interesting idea, because you then know whose key was affected if something goes wrong, and at least the simple "I was hacked!" excuse wouldn't work anymore. This would of course only work for saving/holding purposes, if you move the funds around it would become extremely complicated due to the continuous renewal of the multisig addresses,

Another idea could be that one of both has the keys, but there's a legal agreement that the coins belong to both, and a second key stored e.g. in a bank safe ...

Do you think this could work as an "official recommendation" for the OP list? I guess the details are a bit advanced - but something like "if you share a Bitcoin wallet with your partner, do it only in very trusted relationships, and know exactly what you do and agree on some sort of safety net for the case of a hack." could be a good idea to add.

When buying a hardware wallet, make sure to purchase it on the official website/manufacturer of the chosen hardware wallet brand.
Good tip, adding it!

███████████████████████████
███████▄████████████▄██████
████████▄████████▄████████
███▀█████▀▄███▄▀█████▀███
█████▀█▀▄██▀▀▀██▄▀█▀█████
███████▄███████████▄███████
███████████████████████████
███████▀███████████▀███████
████▄██▄▀██▄▄▄██▀▄██▄████
████▄████▄▀███▀▄████▄████
██▄███▀▀█▀██████▀█▀███▄███
██▀█▀████████████████▀█▀███
███████████████████████████
.
.Duelbits PREDICT..
█████████████████████████
█████████████████████████
███████████▀▀░░░░▀▀██████
██████████░░▄████▄░░████
█████████░░████████░░████
█████████░░████████░░████
█████████▄▀██████▀▄████
████████▀▀░░░▀▀▀▀░░▄█████
██████▀░░░░██▄▄▄▄████████
████▀░░░░▄███████████████
█████▄▄█████████████████
█████████████████████████
█████████████████████████
.
.WHERE EVERYTHING IS A MARKET..
█████
██
██







██
██
██████
Will Bitcoin hit $200,000
before January 1st 2027?

    No @1.15         Yes @6.00    
█████
██
██







██
██
██████

  CHECK MORE > 
avp2306
Hero Member
*****
Offline

Activity: 1792
Merit: 630


Latest promotion? Go to contesthunters.com


View Profile
Today at 09:47:27 AM
 #332

Before recommending Bitcoin to our friend I guess the first thing we need to know is their real situation.

Because after all Bitcoin investment is not actually one sizes that fits all. Since we need to know first if they really have discretionary funds.

Or if they have unstable income or existing debts. Since their bitcoin investment should not compete with their basic needs.

Also if they are emotional and so reactive with their money, If happens that they are into that situation the Bitcoin volatility might harm them.

If they are good and could pass those situations then they are good to invest on Bitcoin.




█████████████████████████
█████████████████████████
█████████████████████████
███████████▀▄▀███████████
██▄▀▀▀██▀▄███▄▀██▀▀▀████
██▌▐███▄▄█████▀███████▐██
████████████████████████
███▌▐████████████████▐███
████▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄████
█████████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
  rizzy  █▌█▌█▌████
█▌█▌█▌██
█▌█▌█▌██
█▌█▌█▌██
█▌█▌█▌██
█▌█▌█▌██
█▌█▌█▌██
█▌█▌█▌██
█▌█▌█▌██
█▌█▌█▌██
█▌█▌█▌██
█▌█▌█▌██
█▌█▌█▌████
██████████████████████████████████████████████████████████████████
 
THE HOME OF THE
   MOST REWARDING   
GAMING EXPERIENCE

██████████████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████████████
 100% DEPOSIT
MATCH
+ 100 FREE SPINS
 
██████████████████████████████████████████████████████████████████
████▐█▐█▐█
██▐█▐█▐█
██▐█▐█▐█
██▐█▐█▐█
██▐█▐█▐█
██▐█▐█▐█
██▐█▐█▐█
██▐█▐█▐█
██▐█▐█▐█
██▐█▐█▐█
██▐█▐█▐█
██▐█▐█▐█
████▐█▐█▐█
 
    PLAY NOW    
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 [17]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!