When it comes to seeking advice on investments, people often gravitate towards their social circle, reaching out to family and friends. This tendency is rooted in a sense of trust and the comfort that comes from familiarity. It's not just a matter of laziness; many find the financial world daunting, with its complex terms and the perceived high stakes involved in investment decisions. There's a certain overwhelm that accompanies the prospect of sifting through endless data and jargon, especially for those not steeped in financial knowledge. Meanwhile, the perceived expertise of a friend who's a CFO or a family member who's dabbled in real estate can be incredibly persuasive. It's a cognitive shortcut that eases the decision-making process, with the assumption that such individuals must possess a deeper insight into the world of investments. Additionally, the allure of success, often gauged by outward signs of wealth, can lead people to conflate financial appearances with acumen. It's a case of success by association, where the trappings of affluence are mistaken for a secret knowledge of fiscal matters. It's in these moments, such as when someone asks whether it's a good time to buy Bitcoin, that guiding them towards self-education can be particularly empowering. Rather than giving a straightforward answer, pointing them towards resources to understand Bitcoin encourages them to build their own informed perspective.
well said, I like how you think!
I guide them for self-education knowing this can be provocative for their brain as most people demand absolute clarity for their investment question (yes/no answer, good/bad time to invest)
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