/biz/ - Business & Finance

>>30356531
they don't understand it so they are going to stick with the totally understandable and above board world of the stonk market

the most my parents, family, and anyone i know, know about investing is sticking money in a savings account
suggesting an index fund or etf sounds like alien gibberish to them
the ones who do know of the stock market think its run in a way to extract money from the lay person

the last thing i want to do is be responsible for mentioning crypto to them

my mother in law bought 1 btc bc of me

>>30356531
my mom told me to put 500 dollars on btc few years ago

>>30356531
>brought it up at a family meal with my mum, brother and his fiance
>my mum said 'It's not regulated or backed by the government I wouldn't be comfortable with it'
Yeah not happening

My mother has her own financial advisor so unless she pays ME $400 an hour I'm not saying shit.

>>30356531
I never did, as I wouldn't want to be partially responsible for any losses, but my dad asked me to put some of his money into BTC on his behalf in 2013. He cashed out completely after the crash with a nice profit.

>>30356916
>women not comfortable with something
by golly

I made my dad buy some bitcoin when it was 2k, he is proud of me

>>30357019
I was more focusing on my brother but he didn't give much of a response.

Nah, they are normies and to most normies crypto = bitcoin and bitcoin is the "scam they saw on TV" because they heard some crime involved it.

>>30356531
they still haven’t figured out how to make the wire transfer to the ledger exchange and are too scared to sign up for Coinbase. my mom calls it Bitcoin stock

>>30356531
No because I don't want them wasting their hard earned money on a meme that will only last as long as the internet does, if it even lasts that long.

>>30357286
Liquidation price?

>>30356531
nope not worth it. too much work. i have to accomplish two things.

>get them to understand and make the move
>get them to maintain gains

it'd be an uphill battle. it has to find them first, then i can try to lend a hand.

I did - I got 30k and invested at the ATHs.

>>30356531
My mom put like 1.7k in and now she has like 5k.

>>30356531
i did and they literally 4x while ive only gone up 20%. they call crypto "funds" and buy whatever is going up. im losing my mind

>>30356531
I've considered telling them to let me stick some of their money into stocks.

>>30356834
>the ones who do know of the stock market think its run in a way to extract money from the lay person
Not necessarily wrong. The avg person that enters the market is likely watching the investment every day and gets dismayed when it inevitably dips or worse dips and doesnt recover to their buy in with a few days. Odds are most lose a little bit and quit then and there or keep going and if they keep failing quit later on with a much bigger loss. Then there arw the ones who put a lot of effort into trying to make a right choice bit all they end up doing is breaking even not even worth it to waste such time on it.

Cant fault them. I failed a lot until I made a big win only to fail several times after that only to finally get another big win that Im somewhat unsatisfied with as it hasn't reached the number I'm expecting.

>>30357689
Just teach them to DCA on downtrends, and make sure they pull out the year before the next halving. Easy.

>>30356531
You must be 18 to post here

My dad has always been a "disruptive tech" investor and he had me invest 10k into crypto in 2017. He then started doing it himself after I showed him how to use coinbase. He let me keep the original investment and has turned roughly 30k into 300k with my investing advice.

>>30358732
convincing someone to buy on the way down is difficult, i don't think you understand how risk adverse boomers are.

>>30358860
based

>>30358775
Sry to hear you didn't have parents during your adult years

>>30356531
I'm trying to get them to download brave so I can farm their BAT

>>30356531
Dad has chainlink and posts here often, we both bought in 2017

>>30356531
my dad still thinks bitcoin is a scam.. guess hell stay broke :/

No, they fucked me over with money for years so I don't really want them to make it. They can be poorfags on social security. They deserve it.

>>30356531
Yes my mom did

Absolutely not. I already fucked up by letting it slip that I've cashed out to pay off my student loans and buy a house. I don't want the blame if they buy crypto and then the market goes bad.

>>30356531
I convinced my 68 year old father to buy 1 BTC when it was 13K

>>30356531
bitcoin is a shitcoin.

it is meant to appeal to zoomers that use assumptions as a substitute for thinking.

>>30356531
Bitcoin is a scam, buy silver

>>30357174
this is as far as any of your kind think about it. lol.

>>30356531
My parents are approaching retirement age. I honestly don’t know if it would be wise for me to advise them to go heavily into crypto at their age. However, my dad use Brave and we’ve had some conversations about BAT.

>>30356531
a generation that failed every form of math they were taught in school, now smugly tells the world they understand more about it

>>30356916
>doesn't trust because muh daddy government isn't a part of it

How are Boomers this dense especially after the 2008 crisis

>>30356531

told my father to buy a BTC when it was 2.8K euros
told him it was a great price (in 2018)
he said 'yeah i'd like to but all my money is fixed in investments' and that was that
missed out on about 45k euros of gain, with minimal risk since he has at least 1.5MM total capital

boomers ...

>>30356531
>Any of you guys try talking to your parents about putting some of their money into bitcoin?
>>30356611
>>30356834
>>30356903
>>30356916
>>30356979

>>30356531
convinced my mom to tuck away a couple grand into LINK for my little nephew. :)

>>30356531
My mom gave me money to buy some BTC for her in 2019. She also owns 1 (one) Eth. My dad asked me about Doge but I told him its a joke. He didnt buy any because "i know about those things".

>>30356979
>My mother has her own financial advisor so unless she pays ME $400 an hour I'm not saying shit.
>>30358775
>You must be 18 to post here

>>30361379
You mean boomers right? How many boomers have tried implementing their own 3d physics engine for fun? When I was 20 most guys I knew used public key cryptography every day. How many boomers except extremely specialized experts have the slightest clue about what that even means?

My dad is 70 years old and he told me to get in crypto and gave me money for it. Thanks for help dad

yep convinced my 70 year old mother to buy bitcoin at $10k and chainlink at $3

she sold her bitcoins recently at 35k and her link at $15

It's really dangerous, because they likely won't DYOR and will hold you entirely responsible for the outcome.

My parents jumped in a few years ago, but luckily I was able to take over their account and FORCE them to mega hold. They were salty but now are really glad.

Tldr if they don't know about it themselves, it's their choice, you don't want to be in that situation where they blame/thank you for something that regularly could go either way

>>30356531
I did. They talked me out of it. It was in 2010.

Yep, but understandably my parents don't know enough about crypto to do it themselves so they gave me some of their money to invest for them.

Entire extended families financial education includes buying a property, having a provident fund getting life insurance and funeral policies....

Wouldn’t waste my time trying

>>30357030
based

>>30356903
>few years ago
As in December 2017?

>>30356531
I told my parents to buy bitcoin but they threw a shoe at me. I'm muslim btw

I was just checking about Mochimo

What you guys think!