I've been contacted from a few friends (pre-coiners) and they want some advice regarding BITCOIN, they just saw the ATH on the news...They just want to buy some...
But, they are in total FOMO mode...What would you recommend to them?
I tried to orange pilled some years ago...and now, because BTC is all over the news they want to get involve.
What is the best piece of advice you will give to this people?
Buy some every month with your paycheck. Have a horizon of at least 5-10 years.
Underrated reply.
Avoid shitcoineries like your YT channel... https://m.stacker.news/19668
Let them invest. After investing, I'm sure, they will learn everything about Bitcoin by themselves.
they are going to sell the dips. fuck em! LOL
Stack Sats and stay humble. 😎
If they sell low, I'm sure they will buy lower to curb their loses.
The danger with partial orange pilling is that you will be blamed for whatever the outcome. Except when NGU:
Advice: Weekly/monthly DCA, set and forget. Don't watch/focus on the fiat price. That is the least interesting aspect. Stack a full cycle, 4 year minimum. Read. Learn. Run a full node and participate to strengthen the network you are now investing in.
Yes, DCA is the best advice to share. Totally agree with your answer.
Bitcoin is for anyone not for everyone. Almost everyone moves through fomo period, and your friend should understand what is it...
The best way to start, as I think, is DCA. Ge can start to buy daily for one dollar or more. Bitcoin makes us all more educated
Large gains are made few days in a year. You will most likely miss them. DCA is your friend.
If they don’t want to DCA (they really should), they should not sell for at least 4 years. It doesn’t matter when they buy: even at the absolute top, historically they will gain after 4 years.
They can also resist the urge to buy material things and stack sats instead. They don’t need another jumper or pair of Nikes. Stack those sats instead at whatever price BTC is. It would be sats they would have spent anyway, so they’ll always win.
It's funny because every time someone asked me about Btc, I told them to wait. They then lost the train and the price went up.
So.. Buy sats every week and forget about them
Watch Matthew Kratter's YT videos. That did it for me
Tell em to stick to fiat.
Study first
One option:
Have them sign up for Stacker News. Getting bitcoin on their first post will get them off Zero and motivate them to acquire more.
I would recommend that they study Bitcoin in-depth, hopefully, their minds detaches a little from the fiat mentality and they can take appropriate steps toward Bitcoin.