I gave my friend the right advice about investing in Bitcoin.

[SOKO-DEKE]

I always find it hard to advise people to invest in Bitcoin, but I would rather introduce them to Bitcoin than advise anyone to invest. After I introduce it to the person, it will be left for him or her to decide whether to invest or not, because I don’t want people blaming me in the end if things do not work out as they planned.I advised someone before, and when things were going as planned, he never acknowledged that I was the one who advised him to invest. But when things started turning upside down, he tried to blame me, and it almost caused a fight between us. That is what stopped me from advising people to invest in Bitcoin or any other cryptocurrency.

However, I am always ready to teach anyone who is ready to learn about Bitcoin. Even your friend who is happy with you now may only be happy because he is making profits. Just imagine if he had purchased Bitcoin when the price was very high, like 120k. By now, I don’t think things would be going well between you people. It is also possible that if the price goes down for a long time, his attitude could change.But I just hope your friend is understanding enough that, if things do not later work out as planned, he will not put the blame on you in the future.

[The Cryptovator]

It's a good thing your friend decided to invest in Bitcoin, but he should know the right thing about it. I am not sure if you shared everything with your friend, including negative and positive things. Your friend should know that Bitcoin isn't just a get-rich-quick scheme from which he could make money. Bitcoin is a highly volatile coin, and there is potential risk. You should inform him about that; otherwise he might regret it when he encounters the dump.

Besides that, your friend should be well-informed about the wallet system and securely storing his Bitcoin. It's very important for crypto users. Should have some basic knowledge about Bitcoin, whoever wants to invest in it, like how it works and how the price works as well. However, it is better to introduce him to the forum so he could learn himself from the forum as well.

[Frankolala]

Well done mate, for bringing your friend on board the bitcoin bandwagon. I have also told few people about bitcoin investment and they also invested. I am happy that they're still accumulating bitcoin happily because they want to hodli for long. It gives me joy when I talk to someone and he shows interest on investing in bitcoin. Your friend will bw grateful to you in future.

[UpTober]

OP, What you did by advising your friend on how to invest on bitcoin is a good one, but what you did that is not satisfied by me is the fact that you told him that "investing would never guarantee him profit", you use the word NEVER, for me that is a false and a fallacious statement you would want to give anyone as a form of advice, because how will you tell somebody that this thing will never give you profit but yet the person finds it interesting to still invest in what will never give him profit.

When I advise someone to invest, I can only present him with the investment possibilities on that platform but I can never guarantee him that he will definitely make a profit here. In the past, we have seen that those who have held their investments for a long time have been successful. Yes, I also advised him to hold them for a long time and if he can hold them for a long time consistently, then he can also have good chances. But if I had guaranteed him a profit and after holding them for a few months, if he wanted to sell his investment and when he wanted to sell his investment, the market was down, then my words would have been proven wrong and I did not want that, that is why I said that investment will not guarantee a 100% club.

You can go and read back the OP's statement, he said, "profit is never guarantee", and that is the statement I found issues with, you don't tell a Newbie such kind of statement, you can tell them how volatile the market is, you can tell them not to always expect profit because of the market volatility, but with patience, the market will bounce back and they will make profit, and that's the beauty of investing in Bitcoin. However you might not really see it the way am seeing that statement, and that's the beauty of we having divergent views and opinions.

Investing no more than you can afford to lose is the better way of expressing the matter of mindset and talking about bitcoin investment mindset.  I have covered that topic several times already (in this thread and in other places), otherwise with your way of framing the matter, you are either expecting profits (as if profits (or upwards BTC price movements were guaranteed) or at least you are expecting not to lose too much in circumstances of price movements not going up.. yet it seems the strength of your insistence on proclaiming holding for a long time is a way of guaranteeing "deferred profits", so in that regard, you seem to be of the belief that there is a guarantee that you are going to get your money back and to profit in the long run, even though there is no such guarantee including both execution risk and also underlying asset risk that relates to a lot of ongoing outright and subterranean battles in connection with the asset (ie bitcoin).

You can follow these guidelines when advising someone or making your own investments.

[serjent05]

I don't know how it is for everyone else, but I personally really like it when I give advice to someone and they benefit from it.

It is really self-lifting if we find our advice works great and benefits the person.   Anyway, according to your story your friend keep on investing on Bitcoin, so I assume that your friend have yet to sell his BTC.  For that, I wonder how you can say your advice had benefited your friend since your friend, according to your story, keeps on buying BTC, which simply means he has yet to gain profit on his investment.

Although we are assuming the BTC will forever go up in price, I think it is still too early to say that your friend has already benefited from it.  Any gain is still unrealized unless your friend decides to sell his BTC.

[JoyMarsha]

When the person you introduce to Bitcoin investment is investing correctly, you become happy, and the person also becomes happy. No feeling is good at that, knowing that the person you introduce to Bitcoin investment is having a long term goal, not a short term goal in their mind and they are investing through the DCA method.

However, I want you and your friend to have more of Bitcoin than hodling any altcoins if you both think of diversifying your investment with Bitcoin and altcoins

[Johnlomape]

Although we studied together, his father's financial condition was good and he used to help his father in his business from then on. 
One day he told me that he would start investing, I first tried to give him a lot of ideas about investing and also told him that investing would never guarantee him profit, but still he agreed to invest. He started investing a few months ago and till now he has been continuing his investment consistently. While chatting with him yesterday, he told me that it was because of the advice I gave him that he was able to get involved in investing and he has been able to continue investing consistently. He is now doing investing with so much fun that now his goal is much bigger and he wants to keep this investment for a long time.

Very nice story on your investing in Bitcoin and I am so surprised how you are able to convince people around you to invest in Bitcoin when their are so many people that don't know about Bitcoin and they are not ready to invest their money in Bitcoin for any reason.
Investing in Bitcoin can be profitable for those that knows when to buy and how long they have to keep investing for them to hold to a certain level before selling. Those that are holding are the ones that have more opportunities to make money from the market.

[ZAINmalik75]

Although we studied together, his father's financial condition was good and he used to help his father in his business from then on. 
One day he told me that he would start investing, I first tried to give him a lot of ideas about investing and also told him that investing would never guarantee him profit, but still he agreed to invest. He started investing a few months ago and till now he has been continuing his investment consistently. While chatting with him yesterday, he told me that it was because of the advice I gave him that he was able to get involved in investing and he has been able to continue investing consistently. He is now doing investing with so much fun that now his goal is much bigger and he wants to keep this investment for a long time.

You did great not just by advising him about investing, but also by disclaiming the possibility of downtrends and losses. Because when we are giving financial advice to our close friends, family, and relatives, we have to be careful with our words so they won't take things for granted. There is a saying common in most cultures that you should never do business with your friends or relatives because when you partner with them, it can become a huge problem for you. Here, you might not be their investment partner, but you are advising them, and that could become a reason for conflict.

That's what no one wants, and that's why many people hesitate to tell their friends and family about what they are doing.

But the best way would be to tell them about investing without disclosing how much you have invested. But then they might never take you seriously and may never invest. I know if I disclose my investments to my family or relatives, they would either start taking interest in it or talking about it, which no one wants. But I am happy that both of you are doing good so far because the market has recovered, and you both must be in profit.

[retreat]

It's much easier if the person you're advising understands Bitcoin investment and isn't looking for quick profits. In my experience, I once advised someone about investing in Bitcoin, and when the price dropped, they turned on me for advising them to invest. Since then, I've set boundaries with others and won't talk about Bitcoin with anyone unless they bring it up first. I also won't discuss profits or anything deeper about Bitcoin if someone asks about it - I just leave it to the person to develop their own knowledge and decide whether or not to invest.

[Faisal2202]

But the best way would be to tell them about investing without disclosing how much you have invested. But then they might never take you seriously and may never invest. I know if I disclose my investments to my family or relatives, they would either start taking interest in it or talking about it, which no one wants. But I am happy that both of you are doing good so far because the market has recovered, and you both must be in profit.

My thoughts are the same as yours. I also avoid discussing with family and friends about my investment unless they are so close and they make their decisions independently, not influenced by your investment because eventually they could blame you for your suggestions, because so far, the OP, who has educated his friend about btc must be in profit but when the loss will hit them both what will his friend's reaction is going to be?

I know how it could be but if he is already in business with his father, then he must have known a thing or two and maybe that could have already prepared his mindset about long term investment (growth). Investing is easier alone but when we bring someone in, we tell them how much we own, which becomes a serious problem and it once was going to become for me and I was saved by one thing that I never shared the exact amount but I did share with that one cousin about investment haha which almost got me in trouble.

[Hypnotizer]

I don't know how it is for everyone else, but I personally really like it when I give advice to someone and they benefit from it.

It is really self-lifting if we find our advice works great and benefits the person.   Anyway, according to your story your friend keep on investing on Bitcoin, so I assume that your friend have yet to sell his BTC.  For that, I wonder how you can say your advice had benefited your friend since your friend, according to your story, keeps on buying BTC, which simply means he has yet to gain profit on his investment.

Well, maybe the benefits he’s implying there doesn’t mean a financial benefit…he said his friend is having so much fun consistently investing and he is now up for the long run in this investment space. That can also be considered a benefit, his friend has basically find purpose in bitcoin investment and so his advice have actually benefited the friend.

You know sometimes benefits isn’t about big things or financial gains or profits..it’s about the small things  someone got through you and in this case, it is Purpose.

[Stalker22]

I always find it hard to advise people to invest in Bitcoin, but I would rather introduce them to Bitcoin than advise anyone to invest.
~

I agree.  Actually, I would even take it a step further: giving advice to friends or family about their money usually ends up being bad for you.

The thing is, most people dont really want to learn; they are just looking for an easy way out.  When you tell someone about Bitcoin, you are really showing them a tool, but all they tend to see is a number on a screen they expect to just keep going up.  Thats exactly why I stay quiet.  If someone dosnt bother to understand the volatility, they will likely sell when it is at its lowest, lose all their money, and then look at you like you are the one who stole it.

[Miles2006]

Investing in bitcoin is a right choice and advice, any friend whose privilege to learn bitcoin directly from someone like a close friend is very lucky. Also understanding becomes easy and without any form of fear concerning scam practice, bitcoin investment is profitable when a person follows the basic step and understands bitcoin basic knowledge first which involves buying consistently and being patience with the price.
I will advice you teach your friend about bitcoin volatility, the dip is also one major factor whenever the market is declining many intend to panic and cause fear on others, I’m sure before introducing anyone to bitcoin investment things like this must be thought first afterwards if the person is willing to invest then it’s a nice decision.

[jossiel]

That's music to the ears if someone whom you talked to about investing in Bitcoin and they're continuing.

Because each of us probably have talked to dozens of our friends about investing and Bitcoin.

But it can be counted with our bare hands on how many of them are serious at first and very few continued to invest and applied what they have heard from us.

[Nwada001]

You have tried to teach someone about Bitcoin, which is good, and it looks all fun right now because the person is not recording any loss, as some could close all the advice you have given to them and start casting blame.

I have stopped dishing out investment advice even as Bitcoin has proven over all these years it's better and safer for me that way than to attract attention to myself indirectly.

[Kelvinid]

It's a good thing you get to share the good news of bitcoin to your close friend. Bitcoin will gradually make someone profitable, but its never made in an instant. It's a slow but sure thing, and the more you are consistent with it, the bigger revenue you will benefit in the end.

However, do not just share the positive side about bitcoin, but make him aware also the risk that bitcoin may bring. Volatility can be a threat for someone who's incapable to understand how the market moves, if he resorts into panicking, he will turn his future profits into instant losses.

And lastly, make sure to tell him about this, ''not your keys, not your coins.'' Security of your bitcoin is what greatly matters, if you fail on that, all your hard work and consistency with bitcoin investment will eventually turn into waste.

[GeorgeJohn]

Given that Bitcoin is at a discount now at its current price; judging from its ATH, your advice may seem a good one. If you had advised your friend and he bought Bitcoin late last year, I'm not sure you would be in good terms with him by now 😏. He would be thinking you advised him wrongly because obviously he would've bought the top and be in loss now. Anyway, it's good to know that you've made your friend know that it's not all rosy with Bitcoin investment and that investors do suffer excruciating pains from losses. The loss part is the first thing I tell anyone asking to be brought into Bitcoin investment. It's so they know, to avoid unnecessary blames.

He will be in good terms with him, if he gives his friend the full advice of how bitcoin works..I found out what causes problems between two friends towards giving a friend advice to invest in bitcoin is that...A friend only preach to a friend the positive and profit side of bitcoin  investment...Without telling the person the positive side of the investment, so if you're inviting someone into bitcoin investment, you have to tell the person but advantages and disadvantages of bitcoin...So the investor will bear in mind to accept but the positive and negative side of it....

[Cleanslate_]

That is a nice job you have done to be able to successfully have you friend to invest in bitcoin, you also have to tell him on how to be safe will investing in other not to be scammed on how to kep and protect his investment like his password and seed phrase, not to talk too much for security purpose and other informations that he needs to know so that you will not be blamed for any wrong that befalls him.

[Minor Miner]

But it can be counted with our bare hands on how many of them are serious at first and very few continued to invest and applied what they have heard from us.

Human nature is inherently fearful and suspicious, and people will not easily believe anything unless they have clear evidence or have witnessed it firsthand. Therefore, it is not surprising that most people ignore and show no interest in what we share with them about bitcoin.

But believe me, if you can become rich and change your life by investing in bitcoin. Then, they will start listening to and trusting what you say. There is no more practical and convincing advice than the result we ourselves achieve.

[Nathrixxx]

By the time we introduced bitcoin to other people that are yet to get familiar with it, will let them know both the advantage and disadvantage that may comes along to bitcoin adoption, then we allow them to decide on which to take and the aspect of Bitcoin that is of interest to them, what's the make the decision on their own to either come in or forfeit the opportunity, then we are to take it as a responsibility as well to ensure that we put them through along the line, this will make them to avoid losses while on it.