What should you know before recommending Bitcoin to a friend?

[Patikno]

The days of me recommending bitcoin to friends are gone. I have tried different tactics to get them interested but they just don't want to. Some don't get it, others aren't interested. I have even gifted BTC to some of my best friends. They don't care. I think I would have had more success with bananas.

I still get the occasional "how is that Bitcoin thing going?" type of questions. When the price increased above $100k and they heard about it, some commented that they regret not buying. When it started dropping, it was a different story. Now they are certain that BTC is doomed to fail and there is no future for it anymore. I just shrug it off with a smile.

Satoshi was right when he said, "if you don't believe or don't get it, then I don't have the time to try to convince you." Do your own thing and be happy.

Would you have more success offering them a banana ? In other words, do your friends want instant gratification; something they can enjoy right away ? I think that mindset is flawed; instant rewards are beneficial, sure, but only in the short term. Some of my friends think the same way, they just want to make huge, and quick profits without wanting to go through the actual process. Come on, nothing works like that; you have to put in effort to earn even a single dollar.

In the end, the same thing happened with my friends. When the price of Bitcoin climbed above $100,000, they finally became interested in hearing about it. They really should have listened to me sooner. The difference between your story and mine is; they are the ones now asking about Bitcoin's progress, without me having to be the one to bring it up, or explain it first.

Honestly, I have lost the desire to talk about it with people who only want instant results. I feel like they are only interested in the price, with no regard for Bitcoin’s functional value, or its potential for future growth. That said, I won’t hide anything from them; I just won’t initiate the conversation myself. I only explain Bitcoin when they ask me about it.

[Daniel91]

Sharing of knowledge is one important behavioural pattern we must not neglect, many neglect the Sharing of information without knowing information is power. Before Sharing information there are some important thing we must consider,  among all I having detailed idea of what the activity is all about.
Bitcoin is an important but dangerous investment scheme that has the power to uplift and also destroy once life but can only be disastrous when some important information about bitcoin are not known before investing on it which is; the working process of bitcoin,  how to secure our asset, the best investment option.  Among all the most important is how to provide adequate protection to our assets,  once this is done i believe its save going into investment.

I completely agree with this.
Many people read or hear somewhere that bitcoin has increased in value by 2 or 5 times in a short period of time and suddenly become interested in investing in bitcoin, because they see it as a simple and quick way to solve their financial problems.
Then they usually turn to people they know who invest in bitcoin, often friends, they are impatient and do not want to hear about the possible risks of investing or about the way bitcoin or crypto works, they just want to invest and earn.
To beginners, everything seems easy and simple, you invest money in bitcoin, you wait and after a while you withdraw bitcoin with a big profit.
Of course, more experienced users know that things do not work that way and that there are numerous cycles of growth and decline in the value of bitcoin.
That is why I gave up explaining or recommending bitcoin to friends.
They simply only hear what they want to hear, but many of them are not ready to research, learn, make an investment plan, check the risks, make a clear exit strategy, etc.
Of course, we are to blame for all the problems and losses, as we recommended bitcoin to them.
That's why it's best to simply point people to specific youtube videos and sites and let them do their own research and make decisions, and take responsibility for their own decisions.
Friendship will also suffer less.

[Agathamay]

If you have friends or family who are interested in Bitcoin or you want to encourage them to invest, don’t be too excited trying to convince them. Give them all the info they need. Don’t just push them, give them facts, which is way more important.

Teach them how the market moves, that it’s not some ponzi scheme that guarantees returns. It can be volatile, and we can lose money too. But with basic education and real trust in Bitcoin’s long-term future, their investment will likely grow, especially if they choose to HODL.

You said it perfectly and I believe a lot of people are already guilty of this because people get so excited when they introduce others to bitcoin and cryptocurrency at large that they forget to tell them the essential details which is that, bitcoin and cryptocurrency are volatile and that nothing is certain in the market and it isn't a get rich investment or a ponzi.

Some other people give others so much assurance of the coin as if they can easily control the market and when things don't go as expected, they are always held responsible for it and that's why I align with you that, we shouldn't be so excited when sharing the knowledge with others and always follow what op have listed above to be  at the safer side and in all our teachings, we shouldn't forget to let them know the importance of personal research.

[ndutndut]

If you have friends or family who are interested in Bitcoin or you want to encourage them to invest, don’t be too excited trying to convince them. Give them all the info they need. Don’t just push them, give them facts, which is way more important.

Teach them how the market moves, that it’s not some ponzi scheme that guarantees returns. It can be volatile, and we can lose money too. But with basic education and real trust in Bitcoin’s long-term future, their investment will likely grow, especially if they choose to HODL.

You said it perfectly and I believe a lot of people are already guilty of this because people get so excited when they introduce others to bitcoin and cryptocurrency at large that they forget to tell them the essential details which is that, bitcoin and cryptocurrency are volatile and that nothing is certain in the market and it isn't a get rich investment or a ponzi.

Some other people give others so much assurance of the coin as if they can easily control the market and when things don't go as expected, they are always held responsible for it and that's why I align with you that, we shouldn't be so excited when sharing the knowledge with others and always follow what op have listed above to be  at the safer side and in all our teachings, we shouldn't forget to let them know the importance of personal research.

You are right. We shouldn't overhype Bitcoin when educating friends or family instead of immediately highlighting the investment benefits we should present the full picture including volatility, the risk of loss and the importance of doing one's own research. This ensures that any decision they make is truly their own rather than the result of pressure from us.

Fundamentally, when educating others about Bitcoin we have to be prepared for the risk of being blamed if things go wrong. However, by clearly outlining the risks from the start we indirectly protect ourselves from being held responsible should they suffer losses or if outcomes don't go as expected. I rarely encourage friends or family to invest in Bitcoin unless they are genuinely serious or have the personal initiative to learn about it meaning I am not the one initiating the offer or persuasion.

[KingsDen]

If you have friends or family who are interested in Bitcoin or you want to encourage them to invest, don’t be too excited trying to convince them. Give them all the info they need. Don’t just push them, give them facts, which is way more important.

Teach them how the market moves, that it’s not some ponzi scheme that guarantees returns. It can be volatile, and we can lose money too. But with basic education and real trust in Bitcoin’s long-term future, their investment will likely grow, especially if they choose to HODL.

At this stage of the market, some people might not encourage anyone to invest. Infact, the method I have adopted now helps me a lot. I will never tell anyone personally to invest, but I have a start up and group of people I tech tech skills, I post general information and education to them, people who really are interested to invest would be looking for me themselves and not the other way round.

I have used this method also for my family and friends. They well know I am into bitcoin, so anyone who is interested will meet me for guidance. By this, I wouldn't have the need to be preaching to anyone.

[retreat]

I don't think I would want to go down that road again because of the experience I had with the last person I introduced. I don't know if the fault was entirely mine because I asked him to actually do some research about Bitcoin by himself because I wanted him to have some sort of self experience because the manner and understand he approached me was based on the idea that he could get rich simply by stacking up coin without the proper understanding that Bitcoin is all about patience and volatility.

You're not the only one who feels that way. I've been through something similar, and I just avoid further interaction with the kind of people who want to get rich quick off Bitcoin. Because from the very beginning, their brains are all about money; they're only focused on the profits they can make from Bitcoin. Avoiding people like this will only save you from unnecessary stress and drama.

[qurbanshah02]

I don't think I would want to go down that road again because of the experience I had with the last person I introduced. I don't know if the fault was entirely mine because I asked him to actually do some research about Bitcoin by himself because I wanted him to have some sort of self experience because the manner and understand he approached me was based on the idea that he could get rich simply by stacking up coin without the proper understanding that Bitcoin is all about patience and volatility.

You're not the only one who feels that way. I've been through something similar, and I just avoid further interaction with the kind of people who want to get rich quick off Bitcoin. Because from the very beginning, their brains are all about money; they're only focused on the profits they can make from Bitcoin. Avoiding people like this will only save you from unnecessary stress and drama.

Actually, people have misunderstood the purpose of living in the world, due to which they make money all the time, while money is not more useful for us than necessary. Getting rich with Bitcoin is not easy, rather it is a waste. How much can you invest in Bitcoin? If you buy 10 Bitcoins and get half of its profit, it will be $ 600k, so you have not become rich at this price yet. If you have become rich, you will have to earn at least as much money as a millionaire and for this you need at least 4 years and a fairly large capital that will give you profit for a long time. And if you want to get rich quickly by trading, then when you lose money in a single trade, you will understand that you do not become rich like that. You have kept yourself completely well. Such conversations are always made by those who have no work and dream of becoming rich.

[Gost ms]

I don't think I would want to go down that road again because of the experience I had with the last person I introduced. I don't know if the fault was entirely mine because I asked him to actually do some research about Bitcoin by himself because I wanted him to have some sort of self experience because the manner and understand he approached me was based on the idea that he could get rich simply by stacking up coin without the proper understanding that Bitcoin is all about patience and volatility.

You're not the only one who feels that way. I've been through something similar, and I just avoid further interaction with the kind of people who want to get rich quick off Bitcoin. Because from the very beginning, their brains are all about money; they're only focused on the profits they can make from Bitcoin. Avoiding people like this will only save you from unnecessary stress and drama.

Actually, people have misunderstood the purpose of living in the world, due to which they make money all the time, while money is not more useful for us than necessary. Getting rich with Bitcoin is not easy, rather it is a waste. How much can you invest in Bitcoin? If you buy 10 Bitcoins and get half of its profit, it will be $ 600k, so you have not become rich at this price yet. If you have become rich, you will have to earn at least as much money as a millionaire and for this you need at least 4 years and a fairly large capital that will give you profit for a long time. And if you want to get rich quickly by trading, then when you lose money in a single trade, you will understand that you do not become rich like that. You have kept yourself completely well. Such conversations are always made by those who have no work and dream of becoming rich.

Money is not more important than our life, but the need for money in our life, on the way, is much more important and important. No matter what you do, you will need money and if you do not have money, then you are worthless.

The amount of money that someone has is very big for him. For example, there are many people who do not have $ 10 as a big amount, but there are many people who have $ 10 as a monthly living expense. So it is not that a person can become rich by earning 1 million dollars. Investing with what we have is the best decision. Bitcoin is an asset and a person can benefit a lot from Bitcoin through long-term investment and he can dream of becoming rich.