We should be telling our siblings truth about bitcoin investment

[Mpamaegbu]

I am very bad at maths but I am sure that even if the price of bitcoin reaches a million dollars in the future, a hundred dollar worth of bitcoin invested or bought today can't possibly make that person comfortablely rich.

Nor be only u maths dey show shege oh. We kuku plenty 😂.

But that aside and back to the real essence of creating this thread, why would any body in their right senses choose to lie about Bitcoin investment to someone else just to get them to invest? This is nothing but being stupid because the one who lied isn't going to gain anything from the other person's investment on bitcoin, so why the trouble?

Honestly, na dat part I nor dey understand each time I read sey someone dey lie about Bitcoin just to get dem to invest. Wetin dey com my mind be sey na dat persin dey invest for dem. Na d only way wey dat wan dey make sense. For instance, someone go give dem $100 to invest for am, dem go buy Bitcoin of less amount and corner d balance. No other thing fit explain am betta.

Concerning the example you gave about a brother tell another brother that he will get rich quick if he invested in bitcoin, do you @op consider the fact that he may have simply be joking with the dude but the dude misunderstood and took him serious?

E nor go be joke. Na so dem also take deceive us into Forex Trading those years, telling us how we fit take dey make around $100 to $200 daily. Na until we enta d game we com understand d parole. Na so e go also be for those wey get dat mindset of Bitcoin investment being a shortcut to wealth. E nor dey work like dat.

[Agbe]

I don't think anyone wey dey here go tell people day dem.go make am for bitcoin in a short period of time. Even for u to grow ur account sef no be here. Wen ignorant person tell another person something all becomes di same level. $100 to become rich quick. Even 15 years sef e no go become a rich man. Unless $100 every week or monthly na go fit make am rich for the 15 years interval.

[Mummy OS]

Sometimes I dey blame people wey dey think that bitcoin is nearest and simplest way to get rich if we invest for it, we should be telling our brothers and sisters the truth about bitcoin, i overheard two young boys discussion about bitcoin, one were telling the other one that soon it will be rich as he invested $100 in bitcoin yesterday, and the other one said his elder brother told him that if he invest in bitcoin he get rich quick as possible
I think we should stop deceiving our siblings that with bitcoin investment we can escape poverty immediately, that is a misinformation to our younger ones about bitcoin, if we invest in bitcoin now, we are not going to be rich as we expected, and if it's possible to be rich immediately you invest in Bitcoin, almost everyone who have known bitcoin for long time would have be rich all

Youngs research for bitcoin before you invest, bitcoin does not make instant rich, and if you invest to be rich immediately, you're not going to be rich, it said let me spread this information, I dont know it have being treated here before

Any person wey think say Bitcoin na the easiest way for people to make money must be joking.
Bitcoin no get anything to do with get rich quick scheme wey many people dey think say Bitcoin fit do for them.
Any person that think say they can make money quickly when they put there money for Bitcoin dey only play and they no supposed take am seriously. The price of Bitcoin no dey stable and we need to know how to invest without expecting too much from the market.

[AYOBA]

It is a big relief to hear someone speak the truth. The idea that throwing $100 into Bitcoin today will suddenly make someone rich by next week is just a lie, and it is sad to see young guys risking their money based on rumours, although it can happen bit in a few times. Bitcoin goes up and down way too fast, and those days of waking up as an instant millionaire from a tiny investment are already over. When people treat it like a lottery ticket instead of a risky investment, they usually end up losing the little they have because it will just be like a gambling to them not investing anymore.

This your statement might discourage some of the beginners that never know well about the Bitcoin investments, because it sound very complicated to me. We all understand that a person can just start the Bitcoin investments today and expecting himself to be rich with a week, it might be possible since in Bitcoin anything can happen at any moment because the market is unpredictable but when we come to talk about the Bitcoin investments; we should be give out a word that will encourage some beginners find Bitcoin very interesting to learn and invest in the future.

Telling our brothers and friends the truth is the only way to protect them from making most mistakes in investment. Building real wealth takes time and patience, not just wishing for luck. We really need to warn the younger ones to stop looking for fast money they should sit down and actually research where they are putting their money.

It’s very good to always tell our younger one’s the truth to prevent them from being making wrong choices or making wrong decisions, but i do not think that investing in the Bitcoin is mistakes, accept they didn’t invest the amount they can afford to lose because that’s most of the investors mistakes come from. Yeah younger ones of nowadays prefer to get urgent money, they are unaware that everything in this life is a gradually process.

[EarnOnVictor]

Sometimes I dey blame people wey dey think that bitcoin is nearest and simplest way to get rich if we invest for it, we should be telling our brothers and sisters the truth about bitcoin, i overheard two young boys discussion about bitcoin, one were telling the other one that soon it will be rich as he invested $100 in bitcoin yesterday, and the other one said his elder brother told him that if he invest in bitcoin he get rich quick as possible.

Hmmm...who do we blame in this???

For starters, how would you know if the older brother is not also being lied to? You see, everything about Bitcoin investment sometimes look like exaggeration, and this is flying around more than the actual truth. I hardly hear people seeing Bitcoin as an easy and steady way of making money. All I see is an aggressive means where one can build a mansion on an island at the shortest time. The truth is that, Bitcoin was capable of that, but certainly now, no way. Even at the current level, it would need 10x to get to about $600,000 per BTC. Who knows the decade it would get there? And tell me, investing your N100,000 in such an investment can only fetch you $1,00,000 at that time. A time that could be more over 15 years. Is that even reasonable to call a source of wealth anymore?

[Dr.Bitcoin_Strange]

@OP, let not what you hear from people make you to believe that everyone is doing that same thing, I can tell you for a fact that no experience member of this board will deceive their siblings by telling them that they will become rich if they invest $100 into Bitcoin, is not as easy as that, else everyone would have invested this $100 so they can become rich sooner too. If really that guy was told that he or she can become rich for investing $100 into Bitcoin, it means that the person that gave him the information is not an experienced Bitcoin investor.

[PremiumcryptoHub]

I think it is absolutely wrong to tell newbies that Bitcoin can make you rich overnight, so we should also inform our siblings about this, profiting from Bitcoin investment requires patience, discipline, and discretionary income to invest and keep your investment portfolio safe. You should also be informed about the risks involved with this investment. In fact at the initial stage, any new investor should be informed about the risks and patience involved in investing in Bitcoin and I think they should be prevented from being inspired by misinformation, so at this stage, it is clear that Nigerians who have the right information will be able to invest in Bitcoin using simple methods, even if they have little knowledge..

[Creeper0]

This is the truth for the person who was giving this advice, because he himself was not able to verify the truth and falsehood of Bitcoin. This problem is mainly due to lack of knowledge, lack of publicity. Governments of various countries are recognizing Bitcoin and promoting Bitcoin, and even educational institutions in some countries are teaching about Bitcoin. These steps free the people of a country from this false expectation and warn them against losing money in Bitcoin.

But there are still some countries where Bitcoin is seen negatively and Bitcoin is declared illegal through negative publicity. This is mainly because of the lack of knowledge of people about Bitcoin, they face such common mistakes or lies. Those of us who know the right information about Bitcoin, should at least give the right information to our families and warn our loved ones against the misuse of Bitcoin

[Stable090]

Sometimes I dey blame people wey dey think that bitcoin is nearest and simplest way to get rich if we invest for it, we should be telling our brothers and sisters the truth about bitcoin,

If u wan introduce bitcoin to anyhow, then their is nothing to hide, you just have to tell them the truth, because if u lie give them, u no Dey wish them good be that now. If u wan introduce bitcoin to anyone, make sure say u let them know say no be Ponzi scheme, make dem no Dey expect say their money go increase within a short period of time.

We suppose let them understand everything about bitcoin, make dem know say u fit lose money if u invest in bitcoin, and if u fit hold and for long term, u fit make money also. Plenty people wey Dey regret say dem invest in bitcoin now na because say na wrong orientation dem get, na why dem Dey regret. Some of them go carry loan to invest just because say dem hear say people Dey make money from bitcoin investment, and dem no take time to properly learn about the investment.

[Franklyn-wood]

As much as an information is received, it is also important to make personal research outside the information received and have the basic understanding of whatever investment you make. Bitcoin has thrived over the years and it still remains consistent so its expected that many people would keep talking about it but misinformation could be the death of many people.

For someone who knows nothing about bitcoin, it is important as a mentor to tell them the clean truth without sugarcoating anything, it would be their decision to invest after knowing everything about bitcoin. There is no quick massive profits with bitcoin, it is not like altcoins that deal on low liquidity and unstable structure.

A lot of people have different interest why they are introducing Bitcoin to people which defines how and what they tell prospective investor willing to invest in Bitcoin, it's important to tell or teach everyone interested in Bitcoin no matter what we stand to gain if the person are paying for the educational information giving to them. About five years ago a friend of mine was wrongly informed about Bitcoin, as the person told him to pay certain amount to him, promising to invest with it and he will pay them back there capital and interest made from trading Bitcoin.

[Rgram]

Being rich from Bitcoin investment is possible and it’s actually doable but that no be by holding again o. If you never get money before or you no be person way invest mightily (mind you, if you fit invest plenty money? That one show say you be rich person already) in Bitcoin, you no go fit Dey hope on explosive profit with any bullrun way occur. You fit get 2x or even 3x of your invested capital but that na $200-$300 be that o. No be major money  and if we Dey tell ourselves the truth, e no touch anywhere for this we economy and such person(s) still Dey where e Dey for the social ladder.

[Makus]

We would save ourselves a lot of trouble when we tell people what Bitcoin is actually about, I know sometimes we might want to say certain things that are a bit exaggerated all because we want to make people serious about investing in Bitcoin which is very understandable but at the same time not telling what they need to know is going to make them have unrealistic expectations. It is possible to become financially stable from Bitcoin investment but this is not something that can be achieved in a short period of time.

[RockBell]

I think it is absolutely wrong to tell newbies that Bitcoin can make you rich overnight, so we should also inform our siblings about this, profiting from Bitcoin investment requires patience, discipline, and discretionary income to invest and keep your investment portfolio safe. You should also be informed about the risks involved with this investment. In fact at the initial stage, any new investor should be informed about the risks and patience involved in investing in Bitcoin and I think they should be prevented from being inspired by misinformation, so at this stage, it is clear that Nigerians who have the right information will be able to invest in Bitcoin using simple methods, even if they have little knowledge..

And that is why some of them are behaving the way they are behaving because how on earth will you tell someone that they will make money quickly from bitcoin which we all know that is not true there people that have invested and made a quick recovery but the same time it does not mean that everyone is going to be that lucky and its always a game of patient and when you are not patient enough then bitcoin investment is not for them because people are using the patient game to take people on aware in the market and that is why prediction fails most times.

so when it comes to bitcoin investment there wont be a better choice than for you to invest with the intent having to wait because when you dont wait the most common thing that people do which is for them to sell is what they will do so its always better for you to buy and then luck it somewhere were the investor does not also have access not because of anything but because you want to wait.

[GiftedMAN]

We would save ourselves a lot of trouble when we tell people what Bitcoin is actually about, I know sometimes we might want to say certain things that are a bit exaggerated all because we want to make people serious about investing in Bitcoin which is very understandable but at the same time not telling what they need to know is going to make them have unrealistic expectations. It is possible to become financially stable from Bitcoin investment but this is not something that can be achieved in a short period of time.

What's the point of trying to say things that would later make you look stupid all in the name of hiding the truth from someone you want to invest in Bitcoin you shouldn't sweet talk people to invest in Bitcoin rather you should ell them the truth and all they need to know so that they do not rush to start investing when they do not know what they are investing into. It is advisable to tell people nothing but the truth infact you should ask them to find out certain things by themselves so that after making their own research they will have a personal conviction  for what they are about to invest in.

[Ikenna45]

Bitcoin can go up a lot, but it can also fall sharply. Large price swings are normal, and past gains do not guarantee future returns.
It is not a guaranteed way to get rich. Treat claims of easy profits or “can’t lose” opportunities with caution.
Only invest money you can afford to lose. Essential savings, emergency funds, rent money, or debt payments should not be put into a highly volatile asset.
Understand what you are buying. Bitcoin is a digital asset with a fixed supply, but its value depends on adoption, demand, market sentiment, regulation, and other factors.
Avoid scams. Never share wallet passwords or recovery phrases, and be cautious of anyone promising guaranteed returns or asking you to send Bitcoin for a “double your money” scheme.
Have a plan. Decide why you are investing, how much risk you can tolerate, and what you will do if the price rises or falls.
A simple way to say it to a sibling:
“Bitcoin is a real asset that some people believe has long-term potential, but it’s also risky and unpredictable. Don’t invest because of hype or fear of missing out. Learn how it works, only put in what you can afford to lose, and don’t rely on it as a guaranteed path to wealth.”
This keeps the conversation honest without being either blindly positive or dismissive.