I have a friend I have been trying to get to buy crypto for a while. They just finally bought the other day when it was around $40k. They are likely quite happy that it is now over $60, but they could have made so much more if they had listened.

That’s a shame for sure, but I hope you’re able to convince him to get off the sidelines moping and get back in. It was a lesson and he learned it, now he can get back in with those same funds or other funds and get to buying some assets to have something. Even .01 bitcoin is better than not having any! 

I’ve actually got to talk to my work friend to see what his thoughts are - he’s one that I know is on the train but I haven’t had a chance to formally talk to him about it yet. 

The upward action is nice - where it leads though we can only guess!

It's a shame that he didn't last, especially if he didn't really need that money.
The first cycle is learning, losing and suffering (unless you have beginner's luck and you get some x100), and the next cycle reaps profit. 
So it will be in my case.
Don't give up even when the portfolio drops 90%.

Anyway, I noticed, and made me laugh, as Bitcoin jumped up, Coinbase restricted trading, pretending they have technical difficulties, as they do everytime when a pump or dump happen. So predictible.

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It sucks that he got a loss but I do think the KYC can get really annoying. I don't like it but the regulations kind of forced their hand.

That really sucks for your friend. I bought at 50k as well back in 2021, a very small amount of 70 USD just go have it in my portfolio, and seeing it finally go back to green is a nice feeling. 

I guess the funny question is, is he going to buy BTC? We are getting close to the halving, and history shows it goes higher after that. 

I dunno. While I would like to see a broader adoption of the *use* of bitcoin, until it is more easily usable, someone like your friend might be better off in fiat. One uses the currency one is most comfortable with. I recently made my first bitcoin purchase, a mere $150, and it felt really good! If we want more of us to go in, it has to be more easily usable. This will happen when more of us use it. 

I try to get friends to go into crypto and they all think I am nuts. I went in, kind of big, at just under 20, and am very happy today. Now they simply will not do it, not at this price. The minute by minute volatility (which your friend talked about) is daunting. Compared to the stock market, where you are encouraged to leave your money for decades on end, I imagine some just cannot really understand it. BTC is, basically, not boring enough for fiat users to trust. 

I would not want to say that he is being greedy because he should have sold the BTC when it was a bit high after he bought it but at the same time, he may be thinking that he’d make profit after a long time 
It is well…

Interesting post! Like some once say, you can copy trades but you can't copy conviction. I think people that are more informed about cryptos would manage their crypto investments better than those who just join because of FOMO and thinking it's some get rich quick scheme to turn them into a millionaire overnight.

A lot of early Bitcoin holders sold it at prices ranging from $1 to $300. It's better for them not to think about Bitcoin at all. For example, it’s better to buy ETH :)

What a great lesson to learn from. The uncertainty in crypto generally keep a lot of people out of the goodies. But I agree that it's worth the trial.

It is a real pitty. I think it would have been okay if he had sold it after a while, thinking it would go further down, but selling it after two and a half years is not reasonable to me.

You friend can probably buy in, around the same price, at the end of 2026 ;<)
Although, who knows what happens in between.

And yeah, crypto mostly isn't a get rich quick scheme. That much I know, after almost 7 years in the game.

Definitely worth the lesson for someone keen to learn.  I believe you win or you learn for the most part so your friend learned.  Why not use that knowledge gained?  

If someone said they were ready to learn and had money to sink into a horse to see if it would run, I would say wait for a 20% dip rather than buy at 60k.  Has a chance of being the worst advice anyone has taken all year.

The things you can learn from blockchain are many.