Explaining BTC to rich aged parents

[Israelgogo]

I came across a family through one our outreach programs and the man love my approach to life and he decides to invite me home and introduce me to his aged wife, over time I became more familiar with them and I gets to know the kind of properties and assets he has.

So on one occasion I was discussing with the man on projects then I landed him on digital market and I was surprised this man have not heard of cryptocurrency as digital assets. So I try explaining everything to my best knowledge but he was not still flowing,  he wants me to convince him enough to buy the idea of giving me money to buy BTC.

Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

[igebotz]

I came across a family through one our outreach programs and the man love my approach to life and he decides to invite me home and introduce me to his aged wife, over time I became more familiar with them and I gets to know the kind of properties and assets he has.

So on one occasion I was discussing with the man on projects then I landed him on digital market and I was surprised this man have not heard of cryptocurrency as digital assets. So I try explaining everything to my best knowledge but he was not still flowing,  he wants me to convince him enough to buy the idea of giving me money to buy BTC.

Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

If you value that friendship I'd advise you to not do it. It's difficult dealing with elderly people; your intentions might be good but remember that Bitcoin is volatile and if the price crashed, it would be difficult explaining to someone with zero knowledge of how the system works and it could leave them feeling misled and that would affect the relationship with the person.

 First step is to encourage him to learn about Bitcoin first rather than invest immediately. Elderly men hates to lose money on a new technology

[Stalker22]

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Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

Are you seriously asking this?  It sounds like you are grooming a vulnerable, elderly couple to scam them out of their life savings.  Hehe!

Seriously, dont do this.  This is really not good at all, and you need to back away from this old couple immediately before you do something incredibly unethical, if not downright illegal.

[Bryan jessy]

The best you could do for him is to explain what crypto currency is and tell him about Bitcoin investment including the unstable nature because elderly people are very strict and straightforward he would not take it likely with you if it turns out that he lost his money, especially the fact that he lacks knowledge about cryptocurrencies talk more of Bitcoin, so desist from taking his money to invest for him so you don't regret your goodwill, yes you want to help him but the help might turn sour if he request for his money when the price has decreased and trust me he will not believe anything you explain to him, ensure he understands better before you invest for him or convince him to go into crypto investment.

[Franklyn-wood]

I came across a family through one our outreach programs and the man love my approach to life and he decides to invite me home and introduce me to his aged wife, over time I became more familiar with them and I gets to know the kind of properties and assets he has.

So on one occasion I was discussing with the man on projects then I landed him on digital market and I was surprised this man have not heard of cryptocurrency as digital assets. So I try explaining everything to my best knowledge but he was not still flowing,  he wants me to convince him enough to buy the idea of giving me money to buy BTC.

Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

Very good you are able to introduce the family to know about BTC. It should  not just stop there as this people are old and ignorant of such investment like Bitcoin. And you know that it a volatile investment. So they need to have a better understanding about it before they start investing, I am talking from experience. They might loss some part of there funds due to dip which could be a result of reputable entity selling out there holdings and some other factors that contribute ro the fall in the market price.

[Crypto_Timothy]

Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

I don't really think it is a good idea to manage or rather invest his money in Bitcoin if he doesn't clearly understand what it is or even the risks involved sef.  We obviously know Bitcoin is a valuable long-term asset, but of course it is also volatile as well and investing without informed consent could damage both his finances and your relationship if the price falls. You can actually focus on educating him over time, answer his questions patiently  because he should have alot and only if he fully understands the potential risks and rewards should he consider investing and obviously starting with a small amount he can comfortably afford to leave untouched for the long term.

[I_Anime]

Many may have heard about bitcoin but still knows nothing about cryptocurrency in general , even some kids know about bitcoin because they have heard before from some grown up or even from entertainment like music . Bitcoin still have more adaptations to gain with time cause many haven’t know about it even till date . Like this big man that op spoke about , maybe someone like that would have Also love to invest if he understood how it works.

[Cityhunter34]

I came across a family through one our outreach programs and the man love my approach to life and he decides to invite me home and introduce me to his aged wife, over time I became more familiar with them and I gets to know the kind of properties and assets he has.

So on one occasion I was discussing with the man on projects then I landed him on digital market and I was surprised this man have not heard of cryptocurrency as digital assets. So I try explaining everything to my best knowledge but he was not still flowing,  he wants me to convince him enough to buy the idea of giving me money to buy BTC.

Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

Do you want to regret in the future? Because it makes no sense to use someone else's money to o invest in Bitcoin if they know nothing about it.That should be the worst decision an investor would ever consider. Bitcoin is highly volatile, so I think it's necessary for us to always understand that anything can happen along the line. Honestly, this is not a smart move at all, because Bitcoin investment is a long term process. So never, in any way, think of forcing someone to invest in Bitcoin.

[B-BossMan]

I came across a family through one our outreach programs and the man love my approach to life and he decides to invite me home and introduce me to his aged wife, over time I became more familiar with them and I gets to know the kind of properties and assets he has.

So on one occasion I was discussing with the man on projects then I landed him on digital market and I was surprised this man have not heard of cryptocurrency as digital assets. So I try explaining everything to my best knowledge but he was not still flowing,  he wants me to convince him enough to buy the idea of giving me money to buy BTC.

Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

Op, investing in Bitcoin doesn't actually requires much knowledge as some people may thought of, but real bitcoin knowledge actually comes through practicing, that's its not necessarily to acquire everything before investing into bitcoin,  being into it can pave way for you to know how the market is,  the down side and the upside of the bitcoin price and also how the bitcoin works.

In my opinion opinion, if I were you , I will never make an attempt of introducing him into bitcoin investment because if I do, I will be the one that will suffer it after. Old parent are to be handled with much cares like eggs, they get hungry easily, so for instance now. When you've successfully introducing him and the market begin dipping at the moment, if actually he doesn't understand the risks fully, he make develop hypertension which may lead him to a serious situations "God forbid" . So introducing an elderly one into bitcoin is  not a good advice.

[Yablee0]

So introducing an elderly one into bitcoin is  not a good advice.

I swear, it's not advisable at all, it's like adding up to your stress already. One thing I later understand about older folks is that, once they start getting of age, they automatically start returning back to their younger age. As in, they will start behaving like a kid that they will barely understand things and likely to be more problematic than before. However, what they should be enjoying at that very stage of their life is reaping the fruit of their labour which is from us their children and not something that will start stressing off their head or even in most cases can even result into something we can't imagine.

[Antidote47k]

Personally, I’d be very careful in that situation.
If someone has little to no understanding of Bitcoin, I don’t think it’s a good idea to take their money and buy it on their behalf, especially when they’re relying mostly on your recommendation. If the price drops sharply, there’s a good chance they’ll associate that loss with you rather than with the normal volatility of the market.
I’d rather help him understand what Bitcoin is first, how wallets work, why prices fluctuate, and the risks involved. If, after taking the time to learn, he still decides he wants some exposure, then he can make that decision knowing what he’s getting into.

Helping someone learn is one thing. Managing their money is a completely different responsibility, and I’d avoid putting myself in that position.

[SatoPrincess]

 
 he wants me to convince him enough to buy the idea of giving me money to buy BTC.

Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

I couldn’t help but laugh when I read this part. You are attempting to convince someone (an older citizen) to buy bitcoin and you want to be responsible for their investment. Do you even understand the risk you’re taking? I’d also like to know if the older couples have kids…why don’t you have a conversation with their kids about bitcoin. It’s better that way, let them come to the decision by themselves. Do not get involved in financial dealings with a stranger who doesn’t understand the risks of investing in bitcoin because if anything happens to their money you will be tagged as a scammer.

[Obim34]

Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

Since you asked and you'd like to know, don't do that.

My little advise, you do not need to do all of these to prove a sense of belonging, investments are supposed to be optional and intentional by the person releasing the funds, I believe you'd rather exempt your self than sabotage the relationship, perhaps if the market shift from how they previously carried their expectations.

[Marykeller]

I came across a family through one our outreach programs and the man love my approach to life and he decides to invite me home and introduce me to his aged wife, over time I became more familiar with them and I gets to know the kind of properties and assets he has.

So on one occasion I was discussing with the man on projects then I landed him on digital market and I was surprised this man have not heard of cryptocurrency as digital assets. So I try explaining everything to my best knowledge but he was not still flowing,  he wants me to convince him enough to buy the idea of giving me money to buy BTC.

Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

Them no d tell kids sae war don start. Young man no go invite for yourself problem you no go fit explain yourself out from.

Anything wey be like collecting money from peso, convincing people to invest in Bitcoin, whether dem be old and young peso, avoid am cos the end of the matter no be wetin the sweet for ear because of the accusation that will level against the peso sae they dupe them of their money. You go want such a thing to happen to you? For peso to spoil your name and destroy the friendship you have with them.

[fredericktaylor]

I came across a family through one our outreach programs and the man love my approach to life and he decides to invite me home and introduce me to his aged wife, over time I became more familiar with them and I gets to know the kind of properties and assets he has.

So on one occasion I was discussing with the man on projects then I landed him on digital market and I was surprised this man have not heard of cryptocurrency as digital assets. So I try explaining everything to my best knowledge but he was not still flowing,  he wants me to convince him enough to buy the idea of giving me money to buy BTC.

Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

I think it would not be wise to take money from the person and invest in Bitcoin, because the person has no idea about Bitcoin and it is not possible to make money quickly through investment because Bitcoin is unstable. When the price of Bitcoin decreases, it will be very difficult to explain the matter to the person, so first you need to gain proper knowledge about Bitcoin. As a result, when the person gradually understands how Bitcoin works, then he can be encouraged to invest in Bitcoin. When the investor has knowledge about the volatility of Bitcoin, the investor does not get disappointed quickly due to the volatility of the market and can hold the investment with confidence. As a result, the amount of loss is reduced and the possibility of making money increases.

[Gozie51]

Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

It is good for young people whom you have been friends with over the years because at least they should know your character to an extent and what you can do.

But old people won't have that control when their money starts reducing from what it was as a result of bear and volatility. I mean, how would you explain that to their understanding when the money reducing is real money and not anything like demo money or practice money so to speak.

And to meet a random old man, and try to convince them into bitcoin investment. That is very risky. Don't be a part of what will increase the innocent old man's blood pressure. I don't support that and old people should be left alone if they can't go through old-time friends, children or acquitances that they know over the years.

However, by any means, avoid anyone who is skeptical about bitcoin investment. Bitcoin doesn't need any body to spread to nooks and crannies that it has not gotten to. It is reaching everywhere whether we inform people or not.

But if someone wants knowledge and help about bitcoin by themselves, sure they can be obliged.

[SatoPrincess]

Do think is good ideas taking his money to buy BTC when he has little or no knowledge of crypto word?

Since you asked and you'd like to know, don't do that.

My little advise, you do not need to do all of these to prove a sense of belonging, investments are supposed to be optional and intentional by the person releasing the funds, I believe you'd rather exempt your self than sabotage the relationship, perhaps if the market shift from how they previously carried their expectations.

OP is playing a dangerous game. I don’t know what’s so surprising that an old man hasn’t heard of cryptocurrency before or isn’t interested in that sort of investment. OP, stick to the mission of the outreach you were doing, if you’re not a bitcointalk member, people would think you want to exploit the rich old man.