I gave .01 #Bitcoin to my cousin last year at his wedding
He sold it for $279 several months later
Now he’s asking me if he should buy .1 with the other cash he received from the wedding
There’s a lesson there
Discussion
Nobody understands bitcoin on the first touch.
Very true, no judgement
It seemed like a terrible way to do reward Folding@Home or other distributed computing by some arbitrary system in 2010. It wasn't about money until I understood it enough in my head. Oh, hindsight.
We all wish we would’ve gone down the rabbit hole sooner
We’re still early! 15 years and ~4985 to go
A couple lessons. One of which is to not ask someone a question they already answered. You gave him #Bitcoin for a reason. You already answered his question.
Cuz: are you still buying at these levels?
Me: I’m buying at all levels, always, forever… Laura
Cuz: who’s Laura?
Me: You have more studying to do
Plenty of lessons, for sure. Over Christmas, I walked my brother through setting up a HW wallet I got for him him, and then transferred .03 I'd set aside for him after he set it up.
I did not show him how to sell bitcoin (no doubt he could figure it out), but I'll eventually direct him somewhere like Strike once he's ready to DCA.
I also explained the reasoning behind why he should just hold onto it for at least 4-5 years, if not longer/forever. No guarantees, but I'm hopeful he'll HODL.
When received properly, there is not second best gift ✊