Ok so the title is wild I know, but I need some advice. I’m meeting with my grandma tomorrow, who is absolutely stuck in some weird Facebook crypto loop. She will not stop messaging me and my mother about investing in solely XRP. She refuses to look at anything else, and only wants XRP, because she swears a “good trustworthy Christian man” told her to buy it on Facebook. So I’m seeing her and her “good trustworthy Christian man” for lunch tomorrow, and evidently he’s a big crypto bro. Now I have a very rudimentary knowledge of crypto, but I’m worried I may be out of my depth if he starts throwing buzzwords around.
To summarize, I need some help arguing for her to invest in literally anything else, or nothing at all. So talking points that are anti XRP, or general crypto knowledge would be very helpful. She has already thrown lots of money away at random crap because people online, or people in the church have told her to. I’m just sick of seeing her waste her money on bad investments.
Mods I’m sorry, I don’t think I broke any of the rules, I just don’t know how else to phrase this 🙏
Need help deterring elderly from a big mistake.
byu/HouseDismal7712 inCryptoCurrency
Posted by HouseDismal7712
6 Comments
Any crypto asset is highly volatile, and very high risk. Not a very smart investment for elderly. That being said as a last resort I’d try to convince her to buy a crypto etf instead such as tsx:btc that one for example holds btc, eth, sol, and Xrp. And can be traded and held safely in a registered account. There are others too
This is an article from the AARP with practical advice.
https://www.aarp.org/money/scams-fraud/victims-in-denial/
You should also visit r/cryptoscams
Better signal to noise ratio for this type of question. They’ll help you out with what to say.
If she is giving this grifter money to ‘invest’ for her see the word before money.
Diversity in investing is very important.
I’d say now is a good time for some ETFs or mutuals, since we’re seeing a hit from ATHs due to the world stuff.
But XRP has so much info, a lot of people believe the owners of XRP(Ripple) use XRP token to make money off of people.
What Ripple is doing in the financial world is actually pretty impressive, but that doesn’t necessarily translate to XRP going up.
I have like 2% of “ok to lose” money in XRP. I’ve been trading, and holding crypto like ETH, and SOL.
Right now is a really good time to buy, but that’s because crypto sentiment is in the gutter and the world might be catching on fire from global warming / war / president rtard.
Why does she need some scammer dude. If she actually wants some xrp, sign up for coinbase and help her buy it there directly.