>dad told me he wants to buy one bitcoin
>he's aware of halving cycle and the fundamentals, not an idiot who just wants to catch a hype train
>not sure what to tell him
>don't want to be one of the screencapped anons who got their family into crypto at the peak of a bubble and screwed them over
>on the other hand I know that the future of BTC is huge despite what comes of this pump and I don't want to discourage him from making this step
Not like this decision is up to me, but what should I say? Should I just be neutral? I feel a lot of responsibility for this as me talking to him about LINK and the tech over the last year really made him change his opinion on crypto and it would be partially my fault if he were to fuck up his money. Thankfully 1 BTC is negligible money for him but nonetheless I'd feel like a jackass if I encouraged him to buy at ATH, and then for it to do what crypto normally does when boomers buy at ATH
Dad told me he wants to buy one bitcoin
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Tell him to buy. $18k is really nothing, especially to a boomer. He'll be OK if BTC drops to 0.
Help him buy it? What do you expect? BTC is going to go up and your father wants to buy one. What's the issue?
Never give financial advice to friends or family. Only to strangers on the internet who you'll never meet IRL
This has happened many times before. Bitcoin pumps, then it dumps. Happens 3 times a year. Buy Bitcoin at $13,000
Just tell him to buy with the disclaimer that you aren't his investment advisor and that it's a very real chance he could lose everything he puts into it. My mum got interested in BTC earlier this year, and I got her in around 10k but I made sure she knew that she was trading a very volatile highly speculative asset with a high chance of failure. She only put in as much as she can afford to lose.
this, tell dad to wait for the inevitable correction to the 20 week moving average
>not an idiot who just wants to catch a hype train
then why is he buying it now instead of any time in the last 3 years?
no, this is stupid because then you'll be blamed if it moons.
dont give price advice. help your dad buy if that's what he wants, tell him its likely to go up in the medium-long term, but there is always a possibility of it dropping.
Buy half now, and half when/if it dumps. Shouldn't be thinking that hard when you could be hard elsewhere.
He says he plans on buying strategically, buying it in fractions when it doesn't look overbought. I hear this and I both think of the times that boomers fomo into ATH and lose everything and it sounds like a good idea. Then I remember all the LINK gains I lost waiting for dips and it sounds like a bad idea. Either way it's the safest bet so I think doing it that way is for the best. He's a skilled trader and knowledgeable investor but still entirely new to crypto where things are a bit more retarded... I guess I'll just go with the advice of most Anons with helping him make whatever decision he does, I'll trust him to do the right thing.
That's nice of you to worry , but he probably wouldn't blame you and is aware of the risk
>He says he plans on buying strategically, buying it in fractions when it doesn't look overbought.
he sounds like a savvy trader, he'll be fine
just help him with things like tech stuff like choosing an exchange, wallet, safely storing crypto, etc
The moment a boomer wants in, show them boomerbase. Just do it on the spot. It's an easy app download. They're adults, they can pump our bags with free will.
>t. user who's mom and grandma do better than him at crypto trading because they listen to his schizo ramblings but aren't themselves schizos
Boomers love complex financial products.
Tell him that YOU will sell to him a collared semi-principal protected note that will pay the total rate of return of 1 bitcoin over the course of 1 year and charge him the price of 1 BTC + a markup. Take the funds and purchase a 1yr ATM option on bitcoin. This will be his max loss. With the remaining left over funds, purchase treasury securities and pocket the carry. In one years time, the treasury securities mature, and you give this money to dad, and any upside on the option. Worst case, he loses his option premium, but you look like a financial genius because his loss was floored. Then ask him for money to start a hedge fund and slowly bleed him dry of all of his retirement savings.
i've thought about this myself as i've telling my goldbug parents about btc since 2018. if they wanted in now, i'd explain the nature of markets and how their capitulation is a sign we may be nearing a local top, but at the same time i think the downside is much smaller than the upside. other than that you show them how to do it and it's out of your hands.
>He's a skilled trader and knowledgeable investor but still entirely new to crypto
boomers may not understand new tech stuff, but if he's been trading and investing in the markets for decades, he has seen some shit over the years and he has a longer time horizon than most normies
Also it more has to do with the LINK breadcrumbs I've been feeding him over the last year has changed his perception towards crypto as he's seen that there's actual revolutionary technology behind all this. Also the march crash followed by the recovery shattered his perception that the stock market was somehow any less speculative than crypto, as the fact that the market could recover the way it did despite the economy being completely down the shitter showed him that there really is much less value to these investments than he thought and it's just a bunch of speculation and hype combined with money printing. All this made him decide that if all investments are speculative bullshit he might as well hop on the train and secure one unit of the future of all money as we know it. So yo usee it's not the price that's making him do this just changing attitude, he's well off enough where BTC going to like 300 grand would still just be a pleasant surprise to him
So it's settled I'll help him do as he wishes, good night Anons thanks for the help
Well I accidentally included this in my replies anyway fuck you my dad helped me top off my LINK stack when I didn't have the money to spend on hand, I'll never exploit him
Tether is about to cause the most catastrophic rug-pull in human history.
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As of today, seven-day printing-rate of tether is $38 billion per annum.
I suspect that the CFTC knows that tether is a scam, but they won't audit it for the same reason that they won't audit the COMEX. Crypto is an Adam Back/Blockstream-created ponzi to split the anti-fiat community. The COMEX already would have gone bankrupt if our efforts had been fully concentrated on physical silver during these past ten years. Once fiat collapses, BTC becomes priced in gold, and all crypto (as being the fruit of the poisoned tree) immediately goes to zero.
"To overturn the history of gold is wishful thinking. Fully backed Gold and silver substitutes and circulating coins are practical and acceptable for 7bn transacting individuals. BTC will then have no role and sink to zero priced in gold." - Alasdair Macleod, 8 November 2020
BTC requires $100-fees and 3-day transaction times when even 0.1% of the world population attempts to use it as a currency; the only solution is to go through Blockstream’s second-layer solutions which track and trace everything you do. Blockstream is controlled by the banks and the Bilderberg Group. Projects like BCH are not the answer, since they are just as liable to human corruption as was BTC.
Not only is BTC worthless as a currency, but gold-backed crypto already exists. We don't need BTC for anything.
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Also, gold-backed yuan and rubles will soon be used in the banking system.
tell him its currently all time high and he risks losing money if he gets in now. I mean this was a simple AF solve user. hey dad bout that btc.. its at ath right now so if you buy you risk losing money if it dumps which it might.
oh thanks for the warning son
/solved
my parents want to buy also
i told them to wait for a giga crash first and that i have the family covered overall with crypto gains
them buying at this point would just be sugar on top
debunked
USDT is fully backed by USD
Diversify a little. Tell him to buy a 1k bag of XRP as well while it's still dirt cheap. There's no harm in buying a small bag, and it could easily outperform BTC
My father bought at 15k. I told him to wait till his boomer coworkers and the news mention btc and then decide for a value to sell on
my dad initially bought in after the 2017 peak after we found out my cousin made a cool mil off crypto. he's been steadily buying the dip over the years and he is outperforming me by like 4x lol
fuck off cultqueer this thread has NOTHING to do with your shitcoin. XRP LAW is so fucking obnoxious
Was buying at the $8k top in Nov '17 a good or bad idea?
Just use RSI tool (relative strength index) on binace or whatever. You can look it up on investopidia. It will help you judge whether somethings overbought/oversold
