Explaining BTC to rich aged parents

[Shaponzy]

That's reminds me of how some of us are facing challenges with our parents when they reach  thier old age. The facts is, ageing is something that will affect everyone of us when it's time comes, it's natural process in everyone's life inwhich our body functions reduces it's functions as it was before. Such age like from 55,60 to 65 and above, depending on how healthier you were and the environmental factors. So imagine they went above this ages and you are bringing or introducing them into bitcoin investment. The thing is bitcoin is volatile in nature and the bitcoin prices may fluctuate anytime any moment without our consent, which is a normal thing that must happen in bitcoin investment journey. Then if they have successfully invested into bitcoin and they experience market dips, how would one explain to them that it's normal?. So introducing them into bitcoin investment may caused you harm than peace seriously, so its better you let them be and if thier children are interested in the investment it would be better than the elderly parent. Well I don't support that even in a bit.

[Mhizlove]

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?

For me, I won't advice him to invest if he has no understanding about bitcoin or how it works. Because no matter how good your intentions are, if later the market price falls, it will feel like you mislead him into it and at the end of it all it will affect the trust between you both. A better way in which you can approach this kind of situation is to help such person how to learn first, go ahead and answer all his questions and lastly you will let him decide for himself if he really wants to invest. If he finally agrees to invest, such person will have start small, atleast with only the money that  he can afford to risk while gaining experience.

[liasbaa]

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?

Through money transactions, you can easily recognize a person. How idealistic or deceiving that person is. If anyone cannot repay the loan on time, you will assume that the person is not idealistic and will possibly deceive with you.

The gentleman you met is not aware of cryptocurrency, you have introduced him to this asset, this is enough for him. Do not force him, in the future, help him in every way if wants to know about this or invest in it. You have explained it to him, okay, provide him with important links to learn about Bitcoin and ask him to do research. Ask him to apply his own judgment to make a decision about Bitcoin.

If you can borrow money from him to buy Bitcoin, take it for a fixed period and try to repay it within the specified period because many good mutual relationships are ruined due to financial transactions. Establishing and maintaining a relationship and even gaining trust is a great quality of every human being.

[Fiatless]

These elderly people are prone to sicknesses such as high blood pressure and heart attacks. So you need to be careful about the business or asset you want them to invest in. Bitcoin is a very volatile asset that can make even young people become anxious and fearful. A massive drop in price could make these elderly people feel bad.

If they have children, introduce Bitcoin to them. I am proposing a defensive approach to avoid being called a scammer. I have seen someone who was arrested not because he defrauded people but because he introduced people to an investment.

However, some elderly people are risk takers and they might like to invest. In that case, ensure they have the right information and allow them to make their decision.

[Creeper0]

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

I would not advise against making this decision just because he is old, but rather that such a decision should not be made within a relationship if he values ​​the relationship. I would advise never taking responsibility for someone else's investment or Bitcoin, especially those who have very little knowledge about crypto and technology. Helping them gain knowledge about Bitcoin and investing may be enough.

For that old person, it is better not to get involved in long-term investment assets like Bitcoin, especially if they do not have heirs. Because they are already in the last stage of life, they may end their life before achieving their investment goals or face any accident. Even the last age is a time to spend saved money, not a time to save new ones. If there is an inheritance, some assets can be left for them, be it Bitcoin or any other asset.

[Johnlomape]

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?

This is a dead trap....You need to run as far as you can if you don't want to end up in jail if anything happens later.
A rich man want to give you money to invest in Bitcoin maybe he was not understanding you based on your own explanation but do not forget that the internet is there to help us get clarity about what we may not know.

 If someone you told about Bitcoin is not ready to invest by themselves and asking to give you money to invest, that is a trap to make you pay in the future when the price of Bitcoin may depreciate adding very high floating loses that can be very hard to understand by him.