What should you know before recommending Bitcoin to a friend?

[goldkingcoiner]

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.

I agree. If you hide the negative things about it and only tell them the positive things, they will be very discouraged once they find out and might even stop supporting Bitcoin alltogether.

People appreciate the truth, even if it is an uncomfortable truth. Hiding things from them on the other hand will result in anger, disappointment and frustration.

I think that is also why doctors prefer to be straightforward instead of sugar coating.

An honest person is also far more trustworthy in the eyes of the people who they give advice to. So it is a matter of protecting both Bitcoin's as well as the advice-givers reputation.

[Mehmet69]

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.

Yes, you are right. You will advise your friend to invest in Bitcoin for his own good, but if he suffers a loss due to a small mistake, he may also ask for compensation from you. Although compensation is not a big deal here, the trust that was in the friendship can be lost. So you are not completely wrong. If someone is interested in learning about Bitcoin from you for his own interest, then you can tell him in detail.

But I think we should gradually give our trusted people an idea about Bitcoin. In this, they will also find a new way to become financially independent along with us. And when you want to give an idea about Bitcoin to someone new, it is necessary to tell its risks and disadvantages first compared to its advantages, so that if the new ones are scared at first, they will gradually learn about Bitcoin. The situation you mentioned is absolutely correct. But still, if I have to give an idea about Bitcoin to someone new, then I will tell them its risks and disadvantages first.

[Fiasem20]

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 get your point,most bitcoiners are avoiding being blamed for introducing bitcoin to their friends.The most interesting thing about mentoring an individual about bitcoin is when they are willing and give a 100% interest about bitcoin in the first place,the individual could be your friend or relatives.A person that walked up to you and asked you to mentor them in their bitcoin journey is quite different from you walking up to them and pressuring or convincing them to join the bitcoin ecosystem.Probably,along the line the person that asked you to mentor them in the bitcoin community had negative outcomes in regards to their holdings,do you know that the blame wouldn’t be hefty compared to the person you convinced to invest in bitcoin.

[Sulegzy39]

Since people can do anything for money these days, it is best to keep your holdings as private as possible. If you discuss your wealth in public, someone else may find out, which could put you at risk. You should be cautious about your security because we have witnessed numerous instances of people becoming extremely destructive for financial gain and even committing crimes like kidnapping.

There is no assurance that everyone will interpret your remarks favorably. You are discussing your possessions in public, which may make people more envious because people are unable to see the positive aspects of others and it is impossible to know what is going through someone's mind. Therefore, avoid discussing your accomplishments in public too much; the more private you are about everything, the more secure everything will be for you.

[Loyang]

Since people can do anything for money these days, it is best to keep your holdings as private as possible. If you discuss your wealth in public, someone else may find out, which could put you at risk. You should be cautious about your security because we have witnessed numerous instances of people becoming extremely destructive for financial gain and even committing crimes like kidnapping.

There is no assurance that everyone will interpret your remarks favorably. You are discussing your possessions in public, which may make people more envious because people are unable to see the positive aspects of others and it is impossible to know what is going through someone's mind. Therefore, avoid discussing your accomplishments in public too much; the more private you are about everything, the more secure everything will be for you.

I think this problem is more in my country. Although I watch the news of many countries and always try to keep up with everything, but the incidents that I see happening in my country are very rare in other countries.

There are many problems with such small things. When you tell everyone about Bitcoin in public, the problem can increase a lot. Because it is impossible to find out who has Bitcoin. So if a person says in public that he has Bitcoin, anyone can kidnap that person and take all his Bitcoins.

[RockBell]

I get your point,most bitcoiners are avoiding being blamed for introducing bitcoin to their friends.The most interesting thing about mentoring an individual about bitcoin is when they are willing and give a 100% interest about bitcoin in the first place,the individual could be your friend or relatives.A person that walked up to you and asked you to mentor them in their bitcoin journey is quite different from you walking up to them and pressuring or convincing them to join the bitcoin ecosystem.Probably,along the line the person that asked you to mentor them in the bitcoin community had negative outcomes in regards to their holdings,do you know that the blame wouldn’t be hefty compared to the person you convinced to invest in bitcoin.

And you won't blame them because  a situation were some one is blaming you because you introduced them and that is why even after telling you about bitcoin I will still tell you to do your own research and then when you are convinced that it's something you can do then we can proceed but a situation were you think I will force anybody to invest I won't do that and it  will be best if we just allow them make decisions like this them self.

And one of the reasons some people are not even investing is Because they are scared of losing their money and they have seen bitcoin as a ponzi scheme, and that is because they failed to do their homework well because if they do their research well they will know what bitcoin is really about and they will know that it's not a po zi scheme and they continue to believe their own idea and from their experiences the best thing to me is still for you to still go for knowledge before you start.

[Charcol]

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 get your point,most bitcoiners are avoiding being blamed for introducing bitcoin to their friends.The most interesting thing about mentoring an individual about bitcoin is when they are willing and give a 100% interest about bitcoin in the first place,the individual could be your friend or relatives.A person that walked up to you and asked you to mentor them in their bitcoin journey is quite different from you walking up to them and pressuring or convincing them to join the bitcoin ecosystem.Probably,along the line the person that asked you to mentor them in the bitcoin community had negative outcomes in regards to their holdings,do you know that the blame wouldn’t be hefty compared to the person you convinced to invest in bitcoin.

If someone asks you out of interest in Bitcoin, you should tell them some important things. To be honest, many people still think that Bitcoin means profit. But those of us who have been learning here for a long time may have been fairly certain that although there is a possibility of profit in Bitcoin, it is not uncommon to lose money. Therefore, if someone comes to you out of interest to learn about Bitcoin, your responsibility is to explain to them how Bitcoin works, the long-term potential, short-term losses, and keeping their wallet safe. You should clearly tell them, at least at the beginning, that profit in Bitcoin is not guaranteed. Because many newbies enter with the expectation that profit is guaranteed when they start. Later, when the profit comes as expected, they get disappointed. In most cases, this is the reason why they start selling out of fear even after making long-term plans.

[Akaenyi]

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 get your point,most bitcoiners are avoiding being blamed for introducing bitcoin to their friends.The most interesting thing about mentoring an individual about bitcoin is when they are willing and give a 100% interest about bitcoin in the first place,the individual could be your friend or relatives.A person that walked up to you and asked you to mentor them in their bitcoin journey is quite different from you walking up to them and pressuring or convincing them to join the bitcoin ecosystem.Probably,along the line the person that asked you to mentor them in the bitcoin community had negative outcomes in regards to their holdings,do you know that the blame wouldn’t be hefty compared to the person you convinced to invest in bitcoin.

A lot of members in this forum including myself agrees with what both of you are saying, advising your family and friends to invest in Bitcoin when they have not shown any interest in the cryptocurrency market can cause problems between you and them in the future. If a friend or family member shows interest in investing in Bitcoin and you are comfortable to share your knowledge with them you can go ahead but never promise anybody the amount of profit that they will gain in Bitcoin after x y years, they will hold you responsible if it doesn't materialize. Another reason why we should keep our Bitcoin investment private is what we already know, wrench attacks are quite on the increase and we should be careful about where we discuss cryptocurrency.

[Issa56]

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.

I don’t advice people that are not interested in bitcoin investment, and I don’t even ask anyone to invest in bitcoin, because I know if anything happens to their investment, they are going to blame me which is going to affect the relationship between us. I only encourage and advise people that meet me, and tells me they are interested in bitcoin investment, and they ask me to guide them.

I will make sure I tell them all the necessary things which they are suppose to know, the positive and negative aspects of bitcoin, I will let them understand that they can lose money after investing in bitcoin if things are not properly done, and I will ask them to do more research about bitcoin themselves, and they not going to hold me responsible or blame me if anything happens to there bitcoin.

If some of them end up doing the wrong thing and they lose their bitcoin, they will try to shift the blame to you, and some might even accuse you of scamming them, so don’t force anyone to invest in bitcoin, you can guide people that are interested.

[Big Dirams]

Since people can do anything for money these days, it is best to keep your holdings as private as possible. If you discuss your wealth in public, someone else may find out, which could put you at risk. You should be cautious about your security because we have witnessed numerous instances of people becoming extremely destructive for financial gain and even committing crimes like kidnapping.

There is no assurance that everyone will interpret your remarks favorably. You are discussing your possessions in public, which may make people more envious because people are unable to see the positive aspects of others and it is impossible to know what is going through someone's mind. Therefore, avoid discussing your accomplishments in public too much; the more private you are about everything, the more secure everything will be for you.

I think this problem is more in my country. Although I watch the news of many countries and always try to keep up with everything, but the incidents that I see happening in my country are very rare in other countries.

There are many problems with such small things. When you tell everyone about Bitcoin in public, the problem can increase a lot. Because it is impossible to find out who has Bitcoin. So if a person says in public that he has Bitcoin, anyone can kidnap that person and take all his Bitcoins.

Agreed man, we come from same country and I truly understand what you mean and how risky and dangerous it could be announcing that we hold bitcoin as an investment asset. In our country when people hear about bitcoin all their brain and mind think of is nothing other than millions of dollars and that because most of them lack the idea of understanding that we could even hold a bitcoin less than that and even hold a bitcoin of $100. So announcing we own a bitcoin in our country without being a public figure that have guards and protectors then we put ourselves on public to be kidnapped and robbed in one way or the other.

[Stalker22]

~
If some of them end up doing the wrong thing and they lose their bitcoin, they will try to shift the blame to you, and some might even accuse you of scamming them, so don’t force anyone to invest in bitcoin, you can guide people that are interested.

Thats right.  People who are not ready to learn on their own - never will.  First they will ask you for advice.  And then for the step by step instructions.  And then calling every now and then for every little thing.  And then panic when things go in the wrong direction...  And in the end, blaming that you forced it on them somehow.  I learned this the hard way years ago.  Never again.  Now, if someone asks me, I just point them to some basic reading material and go on my way.  If they want to learn, they have to, to be honest, do all the hard work themselves.

[Pablo-wood]

~
If some of them end up doing the wrong thing and they lose their bitcoin, they will try to shift the blame to you, and some might even accuse you of scamming them, so don’t force anyone to invest in bitcoin, you can guide people that are interested.

Thats right.  People who are not ready to learn on their own - never will.  First they will ask you for advice.  And then for the step by step instructions.  And then calling every now and then for every little thing.  And then panic when things go in the wrong direction...  And in the end, blaming that you forced it on them somehow.  I learned this the hard way years ago.  Never again.  Now, if someone asks me, I just point them to some basic reading material and go on my way.  If they want to learn, they have to, to be honest, do all the hard work themselves.

I get fed up easily when someone i try to teach about bitcoin investment expect me to get involved in every single activity they do as regards their investment. I expect them to learn to find out things  for themselves other than make me explain every single action they do while investing.

[marina torres]

Am I the bad guy if I wouldn't want to recommend BTC/cryptp to friends and family...

Most "real-life" people don't have the stomach to persevere the roller-coaster ride that comes with cryptocurrencies
And I don't wanna be the guy that recommended sth in case a coin doesn't perform towards expectation. And especially because I'll probably be around these people for a long time, and wouldn't want to ruin those relationships...

just my honest thoughts

[Tmoonz]

Am I the bad guy if I wouldn't want to recormmend BTC/cryptp to friends and family...

Most "real-life" people don't have the stomach to persevere the roller-coaster ride that comes with cryptocurrencies
And I don't wanna be the guy that recommended sth in case a coin doesn't perform towards expectation. And especially because I'll probably be around these people for a long time, and wouldn't want to ruin those relationships...

just my honest thoughts

Let's say that we should be more precised and on topic, is about Bitcoin discussion not cryptocurrencies generally, if would not want to recommend BTC to your friends and family doesn't actually make you a bad guy neither does recommending BTC to them make you a good guy but however, there is nothing wrong recommending BTC to your family and friends, the most important thing is the manner and approach through which you made your recommendation about Bitcoin that matters, ensure that they are aware of the prons and cons more like the potential benefits and risk involvement, you are not persuading anyone in to it until maybe they have their own personal conviction, so that there wouldn't be any reason to blame you for anything.

[Compromise me]

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.

Understanding of security is the most important point in the Bitcoin journey because now things are going in a way where it's never been easy to manage; many experienced investors are also facing issues and having things at the lowest level due to their mistakes or carelessness. Before entering into this, you need to have good knowledge of wallets and other related stuff about bitcoin holding.
If anyone is having a good mind and can do things without any problem, he needs to have strategy and then keep on this because this will give him good profit, and secure future accumulation is always good, while after having good strategy, keeping things in balance is also important, never feel panic and always try to control your emotions in any condition.

[Dreamer46]

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.

Understanding of security is the most important point in the Bitcoin journey because now things are going in a way where it's never been easy to manage; many experienced investors are also facing issues and having things at the lowest level due to their mistakes or carelessness. Before entering into this, you need to have good knowledge of wallets and other related stuff about bitcoin holding.
If anyone is having a good mind and can do things without any problem, he needs to have strategy and then keep on this because this will give him good profit, and secure future accumulation is always good, while after having good strategy, keeping things in balance is also important, never feel panic and always try to control your emotions in any condition.

Yes. While it is important to understand how to keep your money safe, knowing how to keep your Bitcoin safe does not always mean you understand the risk you are exposing yourself to. A good strategy includes knowing how much money you can invest without having to sell during a downturn. Due to no strategy being fool proof, it would not be wise to see building up your Bitcoin as a guaranteed way of making money especially when just starting out.

[SmartCharpa]

Since people can do anything for money these days, it is best to keep your holdings as private as possible. If you discuss your wealth in public, someone else may find out, which could put you at risk. You should be cautious about your security because we have witnessed numerous instances of people becoming extremely destructive for financial gain and even committing crimes like kidnapping.

There is no assurance that everyone will interpret your remarks favorably. You are discussing your possessions in public, which may make people more envious because people are unable to see the positive aspects of others and it is impossible to know what is going through someone's mind. Therefore, avoid discussing your accomplishments in public too much; the more private you are about everything, the more secure everything will be for you.

This happens in every country. Those you call your friends might be the ones that will betray you in the end. I no longer share my problems or anything involving money with anyone. Telling your friends how much you accumulated can be very risky, you don’t know who is jealous of you and who is genuinely happy for your success. Learn to keep your secrets from others, it can save you from a lot of trouble.

Life is very precious, and we should be careful about who we trust, people don’t know how valuable life can be, they don’t care putting their hands in wrong things just to make money. I’ve said this many times; that when money is involved, I can only trust that my family whom I know is holding the same value as me, that’s the only risk I believe I can afford to take.

[Tungbulu]

Understanding of security is the most important point in the Bitcoin journey because now things are going in a way where it's never been easy to manage; many experienced investors are also facing issues and having things at the lowest level due to their mistakes or carelessness. Before entering into this, you need to have good knowledge of wallets and other related stuff about bitcoin holding.
If anyone is having a good mind and can do things without any problem, he needs to have strategy and then keep on this because this will give him good profit, and secure future accumulation is always good, while after having good strategy, keeping things in balance is also important, never feel panic and always try to control your emotions in any condition.

I think the bigger problem is that a lot of folks focus more on how much Bitcoin they can accumulate that they end up ignoring how they can actually protect the Bitcoin they already have. I don’t see any point spending several years building a bitcoin portfolio only to lose it to a scammer simply because you couldn’t properly secure your wallet. I always say that securing your Bitcoin is just as important as accumulating it, if not even more important, so if there’s something that should be given more priority, it should be choosing and knowing the best way and method to safeguard your Bitcoin.

[Mummy OS]

Understanding of security is the most important point in the Bitcoin journey because now things are going in a way where it's never been easy to manage; many experienced investors are also facing issues and having things at the lowest level due to their mistakes or carelessness. Before entering into this, you need to have good knowledge of wallets and other related stuff about bitcoin holding.
If anyone is having a good mind and can do things without any problem, he needs to have strategy and then keep on this because this will give him good profit, and secure future accumulation is always good, while after having good strategy, keeping things in balance is also important, never feel panic and always try to control your emotions in any condition.

I think the bigger problem is that a lot of folks focus more on how much Bitcoin they can accumulate that they end up ignoring how they can actually protect the Bitcoin they already have. I don’t see any point spending several years building a bitcoin portfolio only to lose it to a scammer simply because you couldn’t properly secure your wallet. I always say that securing your Bitcoin is just as important as accumulating it, if not even more important, so if there’s something that should be given more priority, it should be choosing and knowing the best way and method to safeguard your Bitcoin.

Protection should be a vital means to keep Bitcoin from getting it stolen or hacked by third parties.
I don't know why majority are focusing on how they are going to be making big profits from Bitcoin without trying to think about how they are going to protect their Bitcoin investment by all means choosing journals on how to keep our Bitcoin safe from the public. The first set of early Bitcoin adopters were not that desperate like what we seeing now from jnvesgkn

[Loyang]

Understanding of security is the most important point in the Bitcoin journey because now things are going in a way where it's never been easy to manage; many experienced investors are also facing issues and having things at the lowest level due to their mistakes or carelessness. Before entering into this, you need to have good knowledge of wallets and other related stuff about bitcoin holding.
If anyone is having a good mind and can do things without any problem, he needs to have strategy and then keep on this because this will give him good profit, and secure future accumulation is always good, while after having good strategy, keeping things in balance is also important, never feel panic and always try to control your emotions in any condition.

I think the bigger problem is that a lot of folks focus more on how much Bitcoin they can accumulate that they end up ignoring how they can actually protect the Bitcoin they already have. I don’t see any point spending several years building a bitcoin portfolio only to lose it to a scammer simply because you couldn’t properly secure your wallet. I always say that securing your Bitcoin is just as important as accumulating it, if not even more important, so if there’s something that should be given more priority, it should be choosing and knowing the best way and method to safeguard your Bitcoin.

Keeping Bitcoin safe is one of the most important things to do before buying or storing Bitcoin. Because even if a person does not buy Bitcoin, that person will still have that amount of money and that person will not face any kind of problem and there will be no fear of his money being stolen. But when a person invests in Bitcoin, if that person does not store his Bitcoin in the right place and another person finds that Bitcoin and steals it, then that person will definitely face financial loss and that person will never get his Bitcoin back.

Instead of making a hasty decision about security, choose the right wallet by gradually gaining knowledge and gaining the right knowledge and after choosing the wallet, the person should take all the necessary steps. In terms of security, it is never a right decision for a person to neglect it.