What should you know before recommending Bitcoin to a friend?

[Sally9256]

The ideas are Atilla remain constant, that is you don't need to force anyone who's not interested in bitcoin to understand every single aspect of it without him ready to learn. In my own perspective for me to suffer myself and explain everything, I must make sure the person is fully interested genuinely, then I can as well take my precious time to teach them or explain every bit of it to the neat of my understanding to him, all the risk and advantages in it, telling them to invest in bitcoin but it should  e only the money they can afford to lose, so there is no point in putting someone through on something they have no interest on. Though we actually have some smarter one's that do ask questions, so all those people may motivate you more break down everything they needed to know.

There is a saying that says, interest first, education second. So in a case like this a person needs to show you they actually want to learn, then you can then start thinking of lecturing them about it.

When it comes to bitcoin and asking them to invest, you need to lay much emphasis on Investing what they can actually afford to lose, with that protect them and also the relationship between you guys. Also tell them he volatile bitcoin is, so as much as they are expecting returns they should also expect a down run.

And I get your point on how curious people encourage to teach more, so when you teaching someone who is willing to learn it really helps so much.

[WhoYouCantKill]

Alot of us may not have really got the knowledge we are getting here elsewhere, everyday am always happy that i belong to this community, and it is also recommendable while telling others about bitcoin, that part of having a very high expectations of bitcoin is a very big mistake a lot of people falls victim of, they get carried away by the excitement of getting to know about Bitcoin, the bitter truth is that your expectations doesn't influence the market in any way and why it is best not to have a high expectations so you don't get disappointed when the reality is happening.

Very true. Learning about Bitcoin should help people to understand the technology as well as its potential, and not to help or push people create some kind of unrealistic expectations about Bitcoin price and profits. One thing that’s sure about the market is that, it will always move according to its own dynamics, regardless of how excited we are about the market. And this is why it’s crucial for investors and enthusiasts to maintain a realistic expectation as this is what really helps people to think clearly and set their emotions aside when making decisions, rather than jumping into irrational conclusions simply because of how they feel.

[Tongley]

Alot of us may not have really got the knowledge we are getting here elsewhere, everyday am always happy that i belong to this community, and it is also recommendable while telling others about bitcoin, that part of having a very high expectations of bitcoin is a very big mistake a lot of people falls victim of, they get carried away by the excitement of getting to know about Bitcoin, the bitter truth is that your expectations doesn't influence the market in any way and why it is best not to have a high expectations so you don't get disappointed when the reality is happening.

Very true. Learning about Bitcoin should help people to understand the technology as well as its potential, and not to help or push people create some kind of unrealistic expectations about Bitcoin price and profits. One thing that’s sure about the market is that, it will always move according to its own dynamics, regardless of how excited we are about the market. And this is why it’s crucial for investors and enthusiasts to maintain a realistic expectation as this is what really helps people to think clearly and set their emotions aside when making decisions, rather than jumping into irrational conclusions simply because of how they feel.

In personal life and investment, expectations are the worst. The reason for saying this is that when a person has high expectations from something, then he will definitely not get what he expected from that place and even if it does happen, he will not be willing to hunt or it will not be to his liking. The same is true in investment, if a person has high expectations, then he will definitely get out of the investment mentality because he will always have an expectation from Bitcoin and most of the time it will be seen that nothing has happened in the Bitcoin market according to his expectations, then he may be encouraged to sell or get out of the investment mentality

[tech30338]

Alot of us may not have really got the knowledge we are getting here elsewhere, everyday am always happy that i belong to this community, and it is also recommendable while telling others about bitcoin, that part of having a very high expectations of bitcoin is a very big mistake a lot of people falls victim of, they get carried away by the excitement of getting to know about Bitcoin, the bitter truth is that your expectations doesn't influence the market in any way and why it is best not to have a high expectations so you don't get disappointed when the reality is happening.

Very true. Learning about Bitcoin should help people to understand the technology as well as its potential, and not to help or push people create some kind of unrealistic expectations about Bitcoin price and profits. One thing that’s sure about the market is that, it will always move according to its own dynamics, regardless of how excited we are about the market. And this is why it’s crucial for investors and enthusiasts to maintain a realistic expectation as this is what really helps people to think clearly and set their emotions aside when making decisions, rather than jumping into irrational conclusions simply because of how they feel.

If this is the kind of mindset a person or other people will do then they don't have to worry of losing money because of their wrong thinking that if they buy bitcoin they can be instantly rich, they have to learn how to control their emotions, and think clearly like what you said, set aside the fantasy that they would be rich someday instead try to learn and do things slowly not by looking in the future, but every steps should be calculated and don't make emotion clouded their judgement about something.

[ImGenius]

In personal life and investment, expectations are the worst. The reason for saying this is that when a person has high expectations from something, then he will definitely not get what he expected from that place and even if it does happen, he will not be willing to hunt or it will not be to his liking. The same is true in investment, if a person has high expectations, then he will definitely get out of the investment mentality because he will always have an expectation from Bitcoin and most of the time it will be seen that nothing has happened in the Bitcoin market according to his expectations, then he may be encouraged to sell or get out of the investment mentality

True, When recommending Bitcoin to someone we must definitely keep in mind that we should not give them too much expectation. We should definitely tell them the good and bad sides so that when they invest they don't have any such expectations in their mind and prepare themselves mentally to hold for the long term. Everyone enters Bitcoin through different methods and each method should be taught to them as well as its security so that they never face any kind of problem.
We can expect profit around three to four years after the Bitcoin investment and they should also be warned so that they don't chicken out before this time in any way.

[Fiasem20]

In personal life and investment, expectations are the worst. The reason for saying this is that when a person has high expectations from something, then he will definitely not get what he expected from that place and even if it does happen, he will not be willing to hunt or it will not be to his liking. The same is true in investment, if a person has high expectations, then he will definitely get out of the investment mentality because he will always have an expectation from Bitcoin and most of the time it will be seen that nothing has happened in the Bitcoin market according to his expectations, then he may be encouraged to sell or get out of the investment mentality

True, When recommending Bitcoin to someone we must definitely keep in mind that we should not give them too much expectation. We should definitely tell them the good and bad sides so that when they invest they don't have any such expectations in their mind and prepare themselves mentally to hold for the long term. Everyone enters Bitcoin through different methods and each method should be taught to them as well as its security so that they never face any kind of problem.
We can expect profit around three to four years after the Bitcoin investment and they should also be warned so that they don't chicken out before this time in any way.

If you want to sugarcoat bitcoin to a newbie then you should be ready to be blamed whenever there’s a price decline.That’s where the expectation comes into the picture because when you only make emphasis on the price increment they would be left with nothing but to have a high expectations,so if that’s the case I won’t completely blame them but the introducer.The reason why I said I won’t completely blame them is because they’re expected to carryout their own research after they have been told about bitcoin,by the way bitcoin volatility doesn’t seem like a premium course where you’ll have to pay to unlock the course,bitcoin volatility can be learned during your early learning phase of bitcoin.Even if you use your search engine to search what bitcoin is the internet would definitely add bitcoin volatility to the basic knowledge.

[Decimetre]

In personal life and investment, expectations are the worst. The reason for saying this is that when a person has high expectations from something, then he will definitely not get what he expected from that place and even if it does happen, he will not be willing to hunt or it will not be to his liking. The same is true in investment, if a person has high expectations, then he will definitely get out of the investment mentality because he will always have an expectation from Bitcoin and most of the time it will be seen that nothing has happened in the Bitcoin market according to his expectations, then he may be encouraged to sell or get out of the investment mentality

True, When recommending Bitcoin to someone we must definitely keep in mind that we should not give them too much expectation. We should definitely tell them the good and bad sides so that when they invest they don't have any such expectations in their mind and prepare themselves mentally to hold for the long term. Everyone enters Bitcoin through different methods and each method should be taught to them as well as its security so that they never face any kind of problem.
We can expect profit around three to four years after the Bitcoin investment and they should also be warned so that they don't chicken out before this time in any way.

You may not give them high hopes from the beginning and they end up creating their own hopes the wrong way. Everyone that comes to bitcoin has a motive which forms their first view about bitcoin. A person can start investing in bitcoin with the right mindset and later deviate into doing the wrong things. No matter the method a person gets into bitcoin, the common goal is success. Most people see success as picking every slight profit that comes to their investment which means the person will end up trading when he initially planned to keep a long-term but for the fact that he also believes the long-term investment is all about the profit that comes with it. So when telling a beginner that he should hold for a long-term, it should be emphasized that it's not only about profit, but holding for a long-term will also give you another benefit that includes preserving the value of your money and also making savings for the future.

[Prince patrick]

Very important topic, sometimes we only tell our friends about the positive side of Bitcoin trading, because we want them to be excited and quickly start trading. I have seen so many cases like that, and this has destroyed a lot of relationships. Why hide it? Tell them the truth, open up, tell them that they can loss money and they won't be getting a refund, explain to them that prayers doesn't work in Bitcoin trading, keep your religious beliefs aside and pick up some useful knowledge instead. It will help you in a long run. Don't borrow your friend money to use in trading if it is his first time, let him use his own money, so he will be even more extremely careful, because he wouldn't want to lose the money he struggled to make. Don't give them financial help, only give them the basic knowledge. Peace ✌️

[Abbatty]

Very important topic, sometimes we only tell our friends about the positive side of Bitcoin trading, because we want them to be excited and quickly start trading. I have seen so many cases like that, and this has destroyed a lot of relationships. Why hide it? Tell them the truth, open up, tell them that they can loss money and they won't be getting a refund, explain to them that prayers doesn't work in Bitcoin trading, keep your religious beliefs aside and pick up some useful knowledge instead. It will help you in a long run. Don't borrow your friend money to use in trading if it is his first time, let him use his own money, so he will be even more extremely careful, because he wouldn't want to lose the money he struggled to make. Don't give them financial help, only give them the basic knowledge. Peace ✌️

Why Bitcoin trading and not investment. For someone who is dare to you I think you should encourage them to invest in bitcoin rather than trading. When It comes to trading, most people can’t handle the tension one emotions, so it better you advice them to go into work investing in bitcoin.

Tell them, encourage them to invest in Bitcoin, make them know holding for a long time will hopefully bring good returns, and remember to tell them to invest with their discretionary income, with that they don’t get too emotionally wounded when there is a Dip in the market.

[WhoYouCantKill]

If this is the kind of mindset a person or other people will do then they don't have to worry of losing money because of their wrong thinking that if they buy bitcoin they can be instantly rich, they have to learn how to control their emotions, and think clearly like what you said, set aside the fantasy that they would be rich someday instead try to learn and do things slowly not by looking in the future, but every steps should be calculated and don't make emotion clouded their judgement about something.

First of all, approaching gambling with this kind of mindset maybe not necessarily prevent you from ever losing in your investment, because losing may sometimes be inevitable, but having this mindset would for sure make one have and approach gambling with a more realistic expectation which in turn would make one have the right mindset when investing thereby reducing the risk of unintended outcomes and losses are a result of bad decisions.

[L E G E N D A R Y]

You may not give them high hopes from the beginning and they end up creating their own hopes the wrong way. Everyone that comes to bitcoin has a motive which forms their first view about bitcoin. A person can start investing in bitcoin with the right mindset and later deviate into doing the wrong things. No matter the method a person gets into bitcoin, the common goal is success. Most people see success as picking every slight profit that comes to their investment which means the person will end up trading when he initially planned to keep a long-term but for the fact that he also believes the long-term investment is all about the profit that comes with it. So when telling a beginner that he should hold for a long-term, it should be emphasized that it's not only about profit, but holding for a long-term will also give you another benefit that includes preserving the value of your money and also making savings for the future.

Very right, this is how people should make introduce Bitcoin to newbies, this gives a better understanding of how investing in Bitcoin looks like and what they should expect, because a lot of people whose mindset has shifted away from doing the right thing is the incomplete information they receive, which they also fail to research more about Bitcoin by themselves without waiting for someone else to put them through. Sincerely if people put this into practice, it will help them to stay long and disciplined till they accomplish their goals.

[The Founding Titan]

I won’t lie, there was actually time when the dream of making it overnight via investing in Bitcoin was actually a reality and people were actually doing so. But honestly, gone are those days when one would simply just accidentally buy a Bitcoin with a few hundreds, or even earn bitcoin from airdrops and faucets and end up making millions weeks after. Not saying Bitcoin doesn’t have potentials for growth anymore, that’s not it, what I mean is that, Bitcoin requires one to be intentional about it and to consider it for its long term growth.

Was there ever a time when the price of bitcoin jumped high enough that someone could end up with millions worth of bitcoin from giveaways and airdrops? I know bitcoin has had such a big growth from when it first became a thing but I don't think a change this high has ever happened in the history of bitcoin, not in the time frame you pointed out.
It's not even likely to have happened in a matter of months so happening in s matter of weeks is unrealistic, even back then. What you can say is that if someone was able to get bitcoin then with the value at the time then that person's bitcoin will be worth millions now, that took years to happen but it's the reality we are living in today.
And the potential for bitcoin to still grow further that what you buy with very little today migtens up being worth millions in the near future is very much possible.

[Big Dirams]

You may not give them high hopes from the beginning and they end up creating their own hopes the wrong way. Everyone that comes to bitcoin has a motive which forms their first view about bitcoin. A person can start investing in bitcoin with the right mindset and later deviate into doing the wrong things. No matter the method a person gets into bitcoin, the common goal is success. Most people see success as picking every slight profit that comes to their investment which means the person will end up trading when he initially planned to keep a long-term but for the fact that he also believes the long-term investment is all about the profit that comes with it. So when telling a beginner that he should hold for a long-term, it should be emphasized that it's not only about profit, but holding for a long-term will also give you another benefit that includes preserving the value of your money and also making savings for the future.

Very right, this is how people should make introduce Bitcoin to newbies, this gives a better understanding of how investing in Bitcoin looks like and what they should expect, because a lot of people whose mindset has shifted away from doing the right thing is the incomplete information they receive, which they also fail to research more about Bitcoin by themselves without waiting for someone else to put them through. Sincerely if people put this into practice, it will help them to stay long and disciplined till they accomplish their goals.

That right let not just tell people what they need to hear so they could join the journey of bitcoin investment, let always be truthful to them and let them understand what they are going into and if they are really ready to sacrifice the patience and challenges in it then it for them to decide. But when we begin to tell them otherwise about bitcoin investment then if things don’t go as planned for them then we will be held responsible because they were convince by what you told them and they are seeing otherwise so let always be very straight forward to them about bitcoin.

[Baki202]

Very true. Learning about Bitcoin should help people to understand the technology as well as its potential, and not to help or push people create some kind of unrealistic expectations about Bitcoin price and profits. One thing that’s sure about the market is that, it will always move according to its own dynamics, regardless of how excited we are about the market. And this is why it’s crucial for investors and enthusiasts to maintain a realistic expectation as this is what really helps people to think clearly and set their emotions aside when making decisions, rather than jumping into irrational conclusions simply because of how they feel.

And it's when you know what to do that things become easy for you because people don't realize that if you don't understand the technology, things become very difficult for you to be able to operate because many people are failing. We should realize that for anyone who is interested, learning should not be a problem from what they want to gain because there should be a high level of understanding when it comes to trading or even buying because you still have to choose what exactly you want to do with your coin.

They must realize that they don't need to be ready for anything that might happen in the market because, given the current state of affairs, a lot of things will undoubtedly happen. However, those of us who are also discussing Bitcoin should be ready because, in the event of difficulties, many people sell because they were not properly oriented before starting anything.

[Felicity_Tide]

There is a saying that says, interest first, education second. So in a case like this a person needs to show you they actually want to learn, then you can then start thinking of lecturing them about it.

And that's why I always advise that we give a listening ear to what people have to say first, before knowing if to proceed with Bitcoin related discussions with them or not. You just don't want to start pouring out everything, and at the end of the day, the person might just be one of those who never had interest from the beginning. And of course, curious minds are way much easier to guide because they tend to learn faster by not struggling to accept things that are new, for the very first time.

When it comes to bitcoin and asking them to invest, you need to lay much emphasis on Investing what they can actually afford to lose, with that protect them and also the relationship between you guys. Also tell them he volatile bitcoin is, so as much as they are expecting returns they should also expect a down run.

There shouldn't be a point of trying to sugarcoat anything. It's best they hear/learn about how the market works the way it is, and decide on their own if it's what they can be part of. There's a danger when trying to raise their expectations, and it turns out to be what they never expected within the short period that they decide to stick around.

[Chinesebaby]

Very important topic, sometimes we only tell our friends about the positive side of Bitcoin trading, because we want them to be excited and quickly start trading. I have seen so many cases like that, and this has destroyed a lot of relationships. Why hide it? Tell them the truth, open up, tell them that they can loss money and they won't be getting a refund, explain to them that prayers doesn't work in Bitcoin trading,

Introducing Bitcoin to someone for trading is the last thing I can ever do, simply because Bitcoin isn't that volatile to be recommended as a digital asset for trading, as it's rather I recommend gold for trading than Bitcoin. However, when it comes to which asset is best for long term investment, then that's where Bitcoin comes into play, because it is actually the best and perfect asset anybody can think of holding for a long term, which is far more better than keeping your money in our traditional bank, that usually gets affected by our fiat currency inflation. While secondly, the things you need to know about Bitcoin before you introduced it to someone is not that much, because inasmuch as you have known how it works, how to use it to buy and send Bitcoin to others and likewise protect it properly. That alone is enough basic knowledge to start introducing it to others.

[d5000]

Unfortunately there was only one single good advice in the last 2 pages which was not a repetition of items I had already listed. Please take the time to read these.

The advice I included was Numan467's tip about not trying to explain everything yourself. Even if it was a short tip, it is useful and important, because simulating knowledge can result in a lot of harm above all with topics related to security.

I also wanted to add another tip myself, inspired by this post in another thread:

If chosing a wallet software or device, carefully read what "self-custody" actually means. Read the terms of service and documentation. Often the wallet operators can have some way to access the wallet. This makes the whole system vulnerable because if the operator is hacked or is a bad actor, then your funds are also at risk. For real self-custody use open source software like Bitcoin Core (or Sparrow, Electrum etc.) with good reputation. Of course take into account other security tips: small and badly maintained open source solutions may actually be worse as custodial wallets!