Topic: Crypto investment is exhausting for some ? - page 4. (Read 487 times)

I think open to all, only those who are not greedy can survive here, those who invest without understanding are actually donkeys. Greedy people and those who are donkeys usually lose money in investments. All those people who do not value a single work are going back from life altogether. No matter where you invest, no matter where you go to do anything, you have to give it time, you have to be patient, then you will succeed, otherwise  you will never succeed. Those who only think that if I invest today, I will get profit soon, then they are wrong. Whether you're into crypto currency or not, there's no rush to succeed in life. I think investing in crypto currency is only done by people who lose money by investing in different random coins hoping to get more for less because of greed, some people doing the same thing over and over are the ones giving up on crypto currency. You have to have the mindset to adapt to anything in life, you have to have strong morale then you will get success from there.

Crypto aka altcoins can't be verified because it's closed source.

If he meant to Bitcoin, of course there's always a person that doesn't want to invest in Bitcoin even people around him are invest in Bitcoin and there's no reason to force someone to invest in Bitcoin. Even though nowadays wallet and exchange are already friendly for beginner because you don't have to create from scratch, but they just choose to reject it.

Such "friends" would have saved a lot of time in their lives if someone had asked them a simple question at the beginning of everything: "Are you ready to be your own bank?" Anyone who answers negatively to that question should simply go in another direction - because the chances of making a wrong step at some point are really high.

The hardest thing is when you invest money in something you don't really have a clue about - and you watch various influencers and read articles from journalists who don't know the difference between Bitcoin and blockchain. It's really a combination that can cause stress in a lot of people, and living every day in fear and doubt about something that should be quite simple is definitely not recommended.

There is no shame in giving up, and the reasons why someone decides to take such a step are not even important. It is important to let people decide for themselves what they want to do in life, especially if it is about their money.

I have one that I teach or I become a mentor on him. It was before the pandemic, before the last bull run that pushes the price of Bitcoin to $69k. And then the pandemic strikes, never heard of him again. Until in the last week or so, he went back to our place and goes back to the house the he used to rent.

And so we have a lot to talk and that includes investment in Bitcoin and crypto in general. He mentioned that he did profited in the last bull run. But he didn't invest in this latest cycle as he was tired and exhausted as what you have describe. So maybe there are individuals who are not that 'consistent' to invest here and even though they have a great experience, they give up very easily.

I met some of my friends like that. although I'm not sure if they finally came out or not they revealed things that made them tired regarding crypto as you mentioned. especially those who don't know this forum.
I'm just saying maybe they're not ready for crypto investment. having capital does not necessarily mean they can invest. because investment is related to plans. Just being patient is not enough to make a profit.

I believe he does not get what he want or didn't see the cryptocurrency journey as he heard about it. We did not have the same mindset before we started our crypto trading, could you believe that many people start crypto trading because they have heard that a lot of people make money through cryptocurrency, and they don't realize the losses they went through before they could make profits in investing. Those reasons have nothing to do with why he wants to quit cryptocurrencies, maybe he doesn't want you to know the truth and throw that lie to you, so you don't bother asking any further questions. Many people did not have the patience to continue with cryptocurrency, possibly the person believed that at his age, he should be earning more than the profit he was making from cryptocurrency trading.

Crypto trading is not for everyone, but I have never seen someone give up on crypto after spending their time learning. However, this does not seem strange to me because a lot of people have joined this forum and given up. After all, the place is not how they believe it is, so some people may still give up on crypto for many reasons, or they have another source of income that is more profitable than crypto.

This sounds like the reason why we advise newcomers to stay away from altcoins. They get overwhelmed by a lot of useless junk in what they call "crypto investment" and almost always lose a lot of money which is even worse when you have put a lot of effort and spent a lot of time on it.

They should just stick to bitcoin and then if they wanted more they could try trading altcoins a little bit (not invest, but trade only). That way they can get their hands dirty while not getting overwhelmed. At the same time by keeping it small they reduce the risk of big losses.

Actually there are some people who have not profited from crypto investment since they started this crypto journey,  so at this point it becomes a waste of time to them and also confusing at same time. but I think those Investor's who have been profiting from crypto investment will never find it exhausting. of course anything that bring profit should be take serous but those who don't have the understanding can see it the other way round.

Cryptocurrency investment isn't firstly, for everyone
Even for those who trade often or invest often,  there will always be a time when it becomes boring and confusing because of the information flowing in excess or the inability to follow up on the important updates.

Knowing that the process involved in cryptocurrency investment and trading is in stages, the stages should first be mastered so it is in the finger tips. The stages am referring to is knowing safety practices for our wallets, knowing the market seasons and understanding price indicators, knowing when to leverage or stop loss or diversify to avoid loss and more; comes with much study, patience and experience which cannot be gotten elsewhere other than by practice no matter how consistent one is.

This could be one of the most silly excuses, he isn't lazy rather he doesn't know what he wants for himself. In this life we are living, nothing comes too easy and there is always a price to pay but for him calling it a stress to store his wealth on a secured wallet and keeping the recovery seed safe is now a bigger problem that should trigger him to quit is even worst than being lazy. And perhaps, is he referring to crypto Altcoins or Bitcoin? In Bitcoin there is no stress involved just a simple matter of Buy and Hold in a secured wallet no need of monitoring the market.

How does it sound if you an investor in cryptocurrency is called lazy by someone who is investing in stocks just because you have not invested in stocks with them? it sounds misinformed.

I do not see any problem with someone wanting something different other than cryptocurrency. There are many options for investment and since the goal is all to make money, whichever one is comfortable for you is all right to invest in be it physical or digital assets. You are not lazy if you cannot cope with investing in cryptocurrency, it is maybe just a big sign that maybe investing in cryptocurrency is not for you or maybe you should pursue your interest elsewhere.

Bad experiences like being scammed in cryptocurrency can really discourage someone from cryptocurrency forever, some people do not have that ability to get themselves backup and start investing again, they just give up on cryptocurrency entirely.

Everybody cannot be a pilot or a dancer, same thing with cryptocurrency, we're here because we find passion in the crypto industry, so the OP friend is not necessarily lazy because crypto processes bores him, you'd be surprised that what he likes might be boring to you. Except for crypto trading that requires special skills like knowing fundamental and technical analysis, I think that crypto investments are quite easy, that is if you're holding a reputable long term cryptocurrency like Bitcoin, all you need to do is keep your seed phrase in a secured please and listen to crypto news.

if he doesn't like crypto, why did he learn it in the first place? does he think that when he learns crypto it can make him rich? because usually these types of people are those who can't wait to get rich with crypto and they want to get rich quickly, but in the process they find it quite complicated to understand and in the end they give up.

these are the types of people who usually regret not learning more about crypto when the crypto market experiences a significant upswing. and there are many people like that in the crypto market, because their mindset when entering the crypto market is only thinking about profit and wanting to get rich quickly. they don't care about the process and want instant results.

As a newbie why is he involved in any coin that's not bitcoin? If he just stuck to bitcoin as a holder he wouldn't need to to be stressed and keep checking on his coin and listen to what other have to say.
And why should he have to trust people? Safeguarding your seed phrase is just the same thing as safeguarding other personal details of yours, difference is, this should be saved offline. All you have to do is find a safe place where nobody would think to look and no body is going to come across it by mistake.
It's not compulsory you use a hardware wallet, even though we all agree it's the safest means to secure your bitcoin. If you use an open sourced, non custodial wallet you would be fine if you keep your seed safe safe offline and don't expose your wallet to people online.

The stress that I say comes with bitcoin is just the emotional stress. Watching your asset devalue is not an easy task, but if you stick to bitcoin and have a basic understanding of bitcoin you'll understand that bitcoin dip is not the end of bitcoin, it usually comes back up, so that means you'll definitely get your money back.

So I believe there are only two problems with your friend.
The first is, he didn't stick with bitcoin. A newbie shouldn't be meddling with altcoins.
The second is, he doesn't have an understanding of bitcoin, or maybe he has the wrong understanding.

If you have been in the crypto community for long you would share the same feelings with him but it is something I don't mind doing a thousand times over than being at the mercies of the traditional finance companies that I do not trust. This is what self custody does. It makes you to take personal up responsibility for your assets. However, If you should do everything right like having the latest security software on your device setting up other security measures on your wallet you may not need to keep on verifying repeatedly before carrying out any transaction. Your friend isn't lazy, it could be that he isn't cut-out for this crypto industry.

This is like saying; "I'm tired of holding on to my wallet and having to protect it, let me hand it over to someone else who I find trustworthy and not worry about that problem again, of course he can steal what I have inside and it can also be stolen from him but then I have someone to blame it on"

Keeping your coins yourself doesn't require constant vigilance, I have seedphrases written down and stored in secured places, and I don't have to check them daily or weekly, just every once in a while and then I check every 6 months orba year that the backup phrase is accurate. If you have a watchonly wallet your job is much easier.

The consequence of trust is far greater than any minor inconvenience.

I am tired, I got out of crypto because of the constant vigilance that crypto requires from me, it is too exhausting.

You can't trust anyone, you can't trust anything, all you have to keep doing is keep verifying everything, but for how long?

To keep your crypto assets safer they said you need a hardware wallet, as if this is the end to the worry, only to start guiding your recovery seed again.

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These words are not mine, but from someone who always bothered me about crypto lectures, I am surprised that he is giving up, some truth does present in what he said but ....

I guess he is just lazy? Or he want something different all along?

I think crypto isn't for everyone, some won't just be able to cope with crypto investment, maybe because they are lazy asses or they need to be elsewhere to make their money? What do you think about this?

Have you seen people giving up on crypto after they spent some time doing research on crypto and even investing?