What should you know before recommending Bitcoin to a friend?

[Nothingtodo]

In my case, I do not feel the need to give advice because I do not want to get into a situation where I am in danger by giving advice to friends who do not have any knowledge about Bitcoin. Since Bitcoin is a risky investment, if I advise them to make this risky investment and they fall into losses after investing, they can directly hold me responsible for it. Moreover, they have to be very aware of the preservation of their Bitcoin wallet. Moreover, if they are not aware of the Bitcoin wallet, then for some reason, if the people I suggested to invest in lose their Bitcoin forever, they can blame me for the rest of their lives. So I do not want to create a situation where I blame myself by advising my friends.

[arwin100]

In my case, I do not feel the need to give advice because I do not want to get into a situation where I am in danger by giving advice to friends who do not have any knowledge about Bitcoin. Since Bitcoin is a risky investment, if I advise them to make this risky investment and they fall into losses after investing, they can directly hold me responsible for it. Moreover, they have to be very aware of the preservation of their Bitcoin wallet. Moreover, if they are not aware of the Bitcoin wallet, then for some reason, if the people I suggested to invest in lose their Bitcoin forever, they can blame me for the rest of their lives. So I do not want to create a situation where I blame myself by advising my friends.

At this point, I think there's no need for us to recommend Bitcoin to anyone.

Much better if they start to learn it, since situation is so complicated if we are the one will start for pointing out Bitcoin. Especially if we talk about investment matters.

There are so many information spreading about it, if they didn't pay attention on Bitcoin existence. Even if they know it exist, then I guess they are not truly interested to learn about this coin.

So I really understand you, towards you don't want to be blame on that matter. Since I experience that situation, then that make me realize its wrong to suggest this one, to people thinking about they can earn easy profits.

[Cricktor]

It might have been said already in this thread (I followed it from the beginning but can't remember all that has been said). Why not introduce a friend with all sides of Bitcoin but let him explore it with Testnet coins first? A decent wallet should support Testnet (commonly both Testnet3 and Testnet4 and later be upgraded when successors of Testnet4 emerge).

There are well known faucets for both Testnet3 and Testnet4 and it's not rocket science to accumulate some coins to pass to a friend who you want to introduce it. Basic handling of transactions, wallet recovery testing, all can be easily done with Testnet coins without fear to mess up and loose money.

Unfortunately Testnet4 is very fucked up with ridiculous forking and selfish-mining of basically empty blocks which isn't a great showcase for newcomers. I didn't have to use Testnet3 for quite some time, so can't say much about usability currently. Though, I don't expect Testnet3 to behave any nasty like it's with Testnet4.

[SOKO-DEKE]

In my case, I do not feel the need to give advice because I do not want to get into a situation where I am in danger by giving advice to friends who do not have any knowledge about Bitcoin. Since Bitcoin is a risky investment, if I advise them to make this risky investment and they fall into losses after investing, they can directly hold me responsible for it. Moreover, they have to be very aware of the preservation of their Bitcoin wallet. Moreover, if they are not aware of the Bitcoin wallet, then for some reason, if the people I suggested to invest in lose their Bitcoin forever, they can blame me for the rest of their lives. So I do not want to create a situation where I blame myself by advising my friends.

Normally, advising someone to invest in Bitcoin is not the right approach because it may seem as though someone is trying to force them to invest. The best approach is to educate them about Bitcoin. If they understand it properly, they will be convinced and make their own investment decisions.However, the fact is that there are some people close to us whom we may genuinely want to see invest in Bitcoin, such as our close friends. Advising them to invest may be a good idea because you already understand Bitcoin and know what to teach them and what information to share before giving them such advice.

As long as someone explains the important aspects of Bitcoin and the risks involved, I don't think anyone will hold them responsible if things don't eventually go as expected, because they have already explained the risks involved.Therefore, when advising friends or people close to you to invest in Bitcoin, it should not be in the form of convincing or pressuring them. It should simply be normal investment advice, allowing them to understand Bitcoin and make their own decisions.

[Luzin]

Therefore, when advising friends or people close to you to invest in Bitcoin, it should not be in the form of convincing or pressuring them. It should simply be normal investment advice, allowing them to understand Bitcoin and make their own decisions.

So right now I never invite my friends to do what I do, investing in crypto. I feel guilty because I once invited friends and they couldn't hold on and then lost a little money. They couldn't persevere and chose to work with a smaller risk working with exertion and getting a salary every month. Indeed, they don't blame me because initially I had explained the potential bad risks that could happen. So they actually understood, but I still feel quite guilty. Right now I have become quiet toward people who try to find out and prefer to answer that I don't understand what they are saying.

[panjul07]

Therefore, when advising friends or people close to you to invest in Bitcoin, it should not be in the form of convincing or pressuring them. It should simply be normal investment advice, allowing them to understand Bitcoin and make their own decisions.

So right now I never invite my friends to do what I do, investing in crypto. I feel guilty because I once invited friends and they couldn't hold on and then lost a little money. They couldn't persevere and chose to work with a smaller risk working with exertion and getting a salary every month. Indeed, they don't blame me because initially I had explained the potential bad risks that could happen. So they actually understood, but I still feel quite guilty. Right now I have become quiet toward people who try to find out and prefer to answer that I don't understand what they are saying.

I can understand it and I think you have made the best decision because something good for us does not always mean will be good as well for others.
Feeling guilty is natural when our friends lose some money because of the thing we introduce to them although we have told them about the risk beforehand.
I'd say that we are lucky enough when our friends lose some money but they do not blame us after we introduce/encourage them about bitcoin because some people may blame us and a friend might even start distancing themselves from us because of something like this.
Honestly speaking I agree with your decision as it is also what I do (avoid to encourage others to invest in bitcoin).
Even if they ask about it first, I prefer to tell them to learn about it by themselves or try to find more experienced person they can trust.

[capuccccino]

In my case, I do not feel the need to give advice because I do not want to get into a situation where I am in danger by giving advice to friends who do not have any knowledge about Bitcoin. Since Bitcoin is a risky investment, if I advise them to make this risky investment and they fall into losses after investing, they can directly hold me responsible for it. Moreover, they have to be very aware of the preservation of their Bitcoin wallet. Moreover, if they are not aware of the Bitcoin wallet, then for some reason, if the people I suggested to invest in lose their Bitcoin forever, they can blame me for the rest of their lives. So I do not want to create a situation where I blame myself by advising my friends.

I don't think introducing friends to bitcoin is a risky thing to do, bc we are adults and we should be aware of the possible consequences of taking risks, as well as the benefits we can get in the end (profit).
First of all, I have read a lot about it, then I took some steps, and I am still learning.

[Tetu100]

There is nothing wrong telling a friend about bitcoin investment. But what is ideal is to tell them its necessities and what is all about. However, don't ever hide it volatile nature as this could result conflict among friends in future. Let them know how using the discretionary funds is important, again don't hold back how essential the emergency funds and the backup funds are, they shouldn't hesitate in putting this on ground at the process. And most importantly, they should understand that bitcoin investment isn't a get rich scheme, and they wouldn't be expecting fat profit in no time as this is literally why I hate speaking it to someone with zero knowledge.

[Decimetre]

In my case, I do not feel the need to give advice because I do not want to get into a situation where I am in danger by giving advice to friends who do not have any knowledge about Bitcoin. Since Bitcoin is a risky investment, if I advise them to make this risky investment and they fall into losses after investing, they can directly hold me responsible for it. Moreover, they have to be very aware of the preservation of their Bitcoin wallet. Moreover, if they are not aware of the Bitcoin wallet, then for some reason, if the people I suggested to invest in lose their Bitcoin forever, they can blame me for the rest of their lives. So I do not want to create a situation where I blame myself by advising my friends.

I don't think introducing friends to bitcoin is a risky thing to do, bc we are adults and we should be aware of the possible consequences of taking risks, as well as the benefits we can get in the end (profit).
First of all, I have read a lot about it, then I took some steps, and I am still learning.

It's not like introducing a friend to Bitcoin is a risky thing to do but the risky thing about it is that it can break your friendship or family relationship when it fails or when the person does not follow it rightly. If you introduce some people into Bitcoin without considering some basic terms like letting the person to understand that Bitcoin is not all profit oriented venture always, it may lead the person into making decisions that will ruin his or her financial system. If you fail to teach a newbie well, if he fails, you will take the blame for leading him into losses.

In Bitcoin, learning is a continuous process and you cannot learn everything at once. Market condition changes everyday and as a Bitcoin investor, you will try to be up to date with the Bitcoin market so that you will not lose out any possible investment opportunities or you can maintain your investment process all through to maximize your potential profit. You can also let the newbie that profit is not certain so that he will mind the level of optimism he is attaching to his Bitcoin because if he fails, your relationship with him will be at risk.

[capuccccino]

In my case, I do not feel the need to give advice because I do not want to get into a situation where I am in danger by giving advice to friends who do not have any knowledge about Bitcoin. Since Bitcoin is a risky investment, if I advise them to make this risky investment and they fall into losses after investing, they can directly hold me responsible for it. Moreover, they have to be very aware of the preservation of their Bitcoin wallet. Moreover, if they are not aware of the Bitcoin wallet, then for some reason, if the people I suggested to invest in lose their Bitcoin forever, they can blame me for the rest of their lives. So I do not want to create a situation where I blame myself by advising my friends.

I don't think introducing friends to bitcoin is a risky thing to do, bc we are adults and we should be aware of the possible consequences of taking risks, as well as the benefits we can get in the end (profit).
First of all, I have read a lot about it, then I took some steps, and I am still learning.

It's not like introducing a friend to Bitcoin is a risky thing to do but the risky thing about it is that it can break your friendship or family relationship when it fails or when the person does not follow it rightly. If you introduce some people into Bitcoin without considering some basic terms like letting the person to understand that Bitcoin is not all profit oriented venture always, it may lead the person into making decisions that will ruin his or her financial system. If you fail to teach a newbie well, if he fails, you will take the blame for leading him into losses.

In Bitcoin, learning is a continuous process and you cannot learn everything at once. Market condition changes everyday and as a Bitcoin investor, you will try to be up to date with the Bitcoin market so that you will not lose out any possible investment opportunities or you can maintain your investment process all through to maximize your potential profit. You can also let the newbie that profit is not certain so that he will mind the level of optimism he is attaching to his Bitcoin because if he fails, your relationship with him will be at risk.

Of course, it is okay to introduce someone to bitcoin if they are interested and want to learn more about it. The important thing is not to make it sound better or easier than it really is.
Many people think that making money is easy and does not require any effort.
I have friends who have been involved in Bitcoin for years, but they are still learning every day, just like I am learning from them.

[Akaenyi]

Therefore, when advising friends or people close to you to invest in Bitcoin, it should not be in the form of convincing or pressuring them. It should simply be normal investment advice, allowing them to understand Bitcoin and make their own decisions.

So right now I never invite my friends to do what I do, investing in crypto. I feel guilty because I once invited friends and they couldn't hold on and then lost a little money. They couldn't persevere and chose to work with a smaller risk working with exertion and getting a salary every month. Indeed, they don't blame me because initially I had explained the potential bad risks that could happen. So they actually understood, but I still feel quite guilty. Right now I have become quiet toward people who try to find out and prefer to answer that I don't understand what they are saying.

There are a number of reasons why I cannot recommend Bitcoin to my friend or discuss that I hold Bitcoin in the public, most times it didn't end well when I told a couple of friends about Bitcoin when I first learnt about it, another reason is for safety purposes so that I wouldn't be targeted for an attack. Nowadays I only talk about Bitcoin with people who are Bitcoiners or those whom I think have genuine interest about it, I don't start a discussion about Bitcoin if I don't see common interests among discussants. As for openly discussing about Bitcoin I don't do it because I've learnt so much from this forum and different news that you can be targeted because people knows that you're holding cryptocurrency.

[UpTober]

There is nothing wrong telling a friend about bitcoin investment. But what is ideal is to tell them its necessities and what is all about. However, don't ever hide it volatile nature as this could result conflict among friends in future. Let them know how using the discretionary funds is important, again don't hold back how essential the emergency funds and the backup funds are, they shouldn't hesitate in putting this on ground at the process. And most importantly, they should understand that bitcoin investment isn't a get rich scheme, and they wouldn't be expecting fat profit in no time as this is literally why I hate speaking it to someone with zero knowledge.

The real things that will happen to him should be shared with him first so that later he can never blame me or you that we said about the investment one way and in reality he realized something different. I think the first thing to discuss with him is that investment will never guarantee him profit and he should consider his own knowledge and financial risk when investing. Investment is usually long-term so after investing, he should be told about it so that he does not panic about the changes in the market. Many times, negative changes are seen in the market and those changes should be accepted naturally and he should be patient. If these things are not discussed with him in advance, then I think I will have no responsibility for his investment in the future.

[Abdulzuruku01]

It's not like introducing a friend to Bitcoin is a risky thing to do but the risky thing about it is that it can break your friendship or family relationship when it fails or when the person does not follow it rightly. If you introduce some people into Bitcoin without considering some basic terms like letting the person to understand that Bitcoin is not all profit oriented venture always, it may lead the person into making decisions that will ruin his or her financial system. If you fail to teach a newbie well, if he fails, you will take the blame for leading him into losses.

Bitcoin is not risk free and introducing friends to it can be a problem if things don’t work out in their favor, no matter how well you explained it to them. There are some friends that if you fail to teach them and they later find out that you are making money from it, might consider you a bad friend.

But for me i don’t like talking about it much with my friends. I know it’s good to share our best knowledge with others, so the best I can do for them is to explain it to those who are close to me and also shown interest to learn without letting them know that I’m holding Bitcoin, and I leave it to them to decide how much to invest on their own to avoid any issues if anything happens.

[Webutxo]

In my case, I do not feel the need to give advice because I do not want to get into a situation where I am in danger by giving advice to friends who do not have any knowledge about Bitcoin. Since Bitcoin is a risky investment, if I advise them to make this risky investment and they fall into losses after investing, they can directly hold me responsible for it. Moreover, they have to be very aware of the preservation of their Bitcoin wallet. Moreover, if they are not aware of the Bitcoin wallet, then for some reason, if the people I suggested to invest in lose their Bitcoin forever, they can blame me for the rest of their lives. So I do not want to create a situation where I blame myself by advising my friends.

It's because people don't appreciate you when you teach them about Bitcoin, they invest and make profit. There are some people that are going to appreciate you for your effort and your time and I still believe there are people that deserves to be tnought about Bitcoin and they will appreciate you. Some people have money on their account that they are willing to invest for long time but don't know what to do, some know about Bitcoin but are scared to try it out.

There are some people that may have not try Bitcoin, they don't hate it or love it. If such kind of people enjoy one bull run, you have win them over for life. There is no decision they will do about Bitcoin that will change them, they grow thick skin with Bitcoin investment and fun fact about them is that they are very understanding about the risk in Bitcoin.

[ChocolateBitcoinK]

Therefore, when advising friends or people close to you to invest in Bitcoin, it should not be in the form of convincing or pressuring them. It should simply be normal investment advice, allowing them to understand Bitcoin and make their own decisions.

So right now I never invite my friends to do what I do, investing in crypto. I feel guilty because I once invited friends and they couldn't hold on and then lost a little money. They couldn't persevere and chose to work with a smaller risk working with exertion and getting a salary every month. Indeed, they don't blame me because initially I had explained the potential bad risks that could happen. So they actually understood, but I still feel quite guilty. Right now I have become quiet toward people who try to find out and prefer to answer that I don't understand what they are saying.

There are a number of reasons why I cannot recommend Bitcoin to my friend or discuss that I hold Bitcoin in the public, most times it didn't end well when I told a couple of friends about Bitcoin when I first learnt about it, another reason is for safety purposes so that I wouldn't be targeted for an attack. Nowadays I only talk about Bitcoin with people who are Bitcoiners or those whom I think have genuine interest about it, I don't start a discussion about Bitcoin if I don't see common interests among discussants. As for openly discussing about Bitcoin I don't do it because I've learnt so much from this forum and different news that you can be targeted because people knows that you're holding cryptocurrency.

It is better to be as secretive as possible about your holdings, secrecy is security, nowadays people can do anything for money, and so if you talk openly about your wealth outside, someone else will hear it and then it can create a risk for you. We have seen many cases where people become very destructive for money and even commit incidents like kidnapping, and that is why you must be careful about your security. There is no guarantee that everyone will take your words positively, you are talking about your holdings in front of everyone and as a result everyone can be more jealous, because people cannot see the good in others, and it is never possible to tell what is in someone's mind, and for that reason do not talk about your achievements in front of everyone unnecessarily, the more secret you are about everything, the more secure everything will be for you.

[icebar]

Therefore, when advising friends or people close to you to invest in Bitcoin, it should not be in the form of convincing or pressuring them. It should simply be normal investment advice, allowing them to understand Bitcoin and make their own decisions.

So right now I never invite my friends to do what I do, investing in crypto. I feel guilty because I once invited friends and they couldn't hold on and then lost a little money. They couldn't persevere and chose to work with a smaller risk working with exertion and getting a salary every month. Indeed, they don't blame me because initially I had explained the potential bad risks that could happen. So they actually understood, but I still feel quite guilty. Right now I have become quiet toward people who try to find out and prefer to answer that I don't understand what they are saying.

There are a number of reasons why I cannot recommend Bitcoin to my friend or discuss that I hold Bitcoin in the public, most times it didn't end well when I told a couple of friends about Bitcoin when I first learnt about it, another reason is for safety purposes so that I wouldn't be targeted for an attack. Nowadays I only talk about Bitcoin with people who are Bitcoiners or those whom I think have genuine interest about it, I don't start a discussion about Bitcoin if I don't see common interests among discussants. As for openly discussing about Bitcoin I don't do it because I've learnt so much from this forum and different news that you can be targeted because people knows that you're holding cryptocurrency.

Even if you have good intentions and a good reason to tell someone about Bitcoin, there can be misunderstandings. Especially if someone invests without fully understanding the risks and security of Bitcoin, then the advisor will be held responsible for the loss later. If you want to tell someone about Bitcoin, see how eager and motivated they are to learn. If they are interested in learning, you should gradually explain the investment, risks and security. If someone just teaches you how to invest and you just keep investing without understanding the risks and security, then there is a chance that they will lose the Bitcoin you have saved and when it comes to learning about Bitcoin, then it's not a good idea to talk to acquaintances and learn about Bitcoin. Because it's not always possible to understand how much someone you know online or how much someone know you. Just as awareness is needed when talking about Bitcoin and it is your own financial privacy.

[Ojima-ojo]

In my case, I advise against advising because I don't want to put myself in danger by advising friends who don't know anything about Bitcoin. Since Bitcoin is a risky investment, if I advise them to make this risky investment and they incur losses after investing, they can directly hold me responsible for it. Moreover, they must be very aware of the security of a Bitcoin wallet. Moreover, if they are not aware of the Bitcoin wallet, then for some reason, if the people I suggested investing in lose their Bitcoin forever, they can blame me for the rest of their lives. So I do not want to create a situation where I blame myself by advising my friends.

The problem is not always in giving advice to newbies, but how they going to handle that advice concerning Bitcoin investment alot of newbies can easily mistakes or misunderstood the concept to mean some scheme that should give the quick returns.


With that mindset, they get confused when market volatility happens and get fomo feeling that push them into ultimate losses.

[Comeacross]

In my case, I do not feel the need to give advice because I do not want to get into a situation where I am in danger by giving advice to friends who do not have any knowledge about Bitcoin. Since Bitcoin is a risky investment, if I advise them to make this risky investment and they fall into losses after investing, they can directly hold me responsible for it. Moreover, they have to be very aware of the preservation of their Bitcoin wallet. Moreover, if they are not aware of the Bitcoin wallet, then for some reason, if the people I suggested to invest in lose their Bitcoin forever, they can blame me for the rest of their lives. So I do not want to create a situation where I blame myself by advising my friends.

You don't have to force them to invest for them to blame you at the end when things get wrong. If you consider them your friend, you can inform them about bitcoin but you can not advise them to invest against their wish. Let them know about bitcoin but tell them to do their own research and then decide what is good for them either to invest or not. The only way they can blamed you is if you deceive them from the beginning and tell them the profit is guaranteed and hide the true consequences from them. If all of us should be worried about being blamed, you'll hardly see new people coming into crypto space.

[Nothingtodo]

There are so many information spreading about it, if they didn't pay attention on Bitcoin existence. Even if they know it exist, then I guess they are not truly interested to learn about this coin.

So I really understand you, towards you don't want to be blame on that matter. Since I experience that situation, then that make me realize its wrong to suggest this one, to people thinking about they can earn easy profits.

Yes, in the long 17 years from 2009 to the present 2026, people around the world have learned a lot about Bitcoin. Right now, those who know or those who have not tried to learn will never try to learn about Bitcoin again. So trying to convince all these people is actually a big mistake. Creating interest in those who do not express interest in Bitcoin is foolish. If for some reason all these people follow someone's suggestion and invest and for some reason there is an accidental loss, then you can consider what the situation of the person who gave the suggestion might be.

[Big Dirams]

There are so many information spreading about it, if they didn't pay attention on Bitcoin existence. Even if they know it exist, then I guess they are not truly interested to learn about this coin.

So I really understand you, towards you don't want to be blame on that matter. Since I experience that situation, then that make me realize its wrong to suggest this one, to people thinking about they can earn easy profits.

Yes, in the long 17 years from 2009 to the present 2026, people around the world have learned a lot about Bitcoin. Right now, those who know or those who have not tried to learn will never try to learn about Bitcoin again. So trying to convince all these people is actually a big mistake. Creating interest in those who do not express interest in Bitcoin is foolish. If for some reason all these people follow someone's suggestion and invest and for some reason there is an accidental loss, then you can consider what the situation of the person who gave the suggestion might be.

Honestly right I think it appropriate to just tell them about bitcoin both the risk and the benefits and not try to actually convince them about what bitcoin is and how it could be of a benefits to them because that will get their hopes very high that they would always see bitcoin as a risk free investment and a certainty to profits after hold for a long term. After we do our due diligence and telling them about what bitcoin is then it left for them to think about what to do with it either they will try to invest or maybe they find it something risky but we should always make sure we tell them the risk part so we won’t be blame at the long run.