Why is telling people you're into stocks "cool" but crypto is a big secret?

milewilda

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Quote from: LogitechMouse on October 21, 2021, 08:09:37 AM

TBH, I don't know the feeling because I've never shared to any of my relatives anything regarding my investment whether it is stocks or crypto.

Well, maybe the fact that crypto is more complex than stocks is the reason why some are keeping it as a secret. If you will ask an investor that you bought a stock in your country, it will be easy to understand since they might know the company especially if you invested in popular company. In crypto, if you will ask it into a normal investor their curiosity will prevail. Questions after questions after questions will be done up to the point that you yourself will give up or he might not be interested to crypto too.

Same behavior and im really making myself low key after all the things ive been dealing with.You cant really just shared up on what you are engaging into specially if they do saw that you have some
sort of lavish life or something doesnt have problems in terms of financial which simply means that they would really be envious on what you had attained and its better that those things
will be the solid proof that you are really doing well with your online job. Cheesy

Doesnt matter whether you do stocks or crypto as long you do make money
then that what matter the most.

Doell

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not long ago I had a hk ex.love for some reason she often brags about investing in stocks like your topic in gold trading he often earns 3K to 5K usd ,but she doesn't know in crypto trading if big capital can be more than his trading profit on the stock market ,she reason because of the negative news that is often present in crypto so she doesn't want to take risks but I often emphasize that they are both digital asset that are worth trading in business profit and loss is a common thing ! I take from several points is that it turns out that news can also affect

LogitechMouse

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TBH, I don't know the feeling because I've never shared to any of my relatives anything regarding my investment whether it is stocks or crypto.

Well, maybe the fact that crypto is more complex than stocks is the reason why some are keeping it as a secret. If you will ask an investor that you bought a stock in your country, it will be easy to understand since they might know the company especially if you invested in popular company. In crypto, if you will ask it into a normal investor their curiosity will prevail. Questions after questions after questions will be done up to the point that you yourself will give up or he might not be interested to crypto too.

bitzizzix

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Since I live in a country that is not completely legal to use cryptocurrency, most of the owners keep it a secret including myself and there are still many people who underestimate crypto because it is not legal and most countries forbid it.
unlike stocks or others which are legalized by the government and have been around for a long time and also very familiar to everyone, and I am more peaceful like this or keep it a secret which looks like an ordinary person but whatever I want I can have it and it makes them feel confused, but I ignored it. Cheesy

Vatimins

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If you are like that, then there is a problem about how you think about things. I suggest that you care less about other people's opinions and focus more on what you love to do and isuch more comfortable for you because in the end, it is your money that you will invest your hard work and all. Win or lose you will be the one celebrating or crying. People tend to hate something new that they do not understand, even more when they feel they have been left behind and jealous but too egotistic to accept it. Hope you or the one that is being looked down upon just because of being a crypto investor manages to rid himself of the worries he has about other people's perceptions about him.

Alucard1

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Quote from: 9thsky on September 18, 2021, 01:43:25 PM

Ever noticed how people would boast or proudly proclaim (or at least used to) that they invest and trade stocks, but they don't feel the same way about crypto, as if it's a secret never to be shared? Why is that?

Really and who are those people? as long as I know people tend to talk more when they are investing in cryptocurrency because of the hype and trend so they just also share the things that they are doing in crypto world. Maybe those people that you are pertaining just want silence, of course whenever someone who don't know about crypto sees that he is earning in cryptocurrency then that person might ask things about crypto then suddenly go invest as well and then once they have seen that the market is going down they will just ask you about what happening and seems like they are blaming you, I have experienced this thing before when someone asked me about crypto.

Wawa2013

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Quote from: livingfree on October 20, 2021, 06:26:26 PM

Quote from: ?? on ??

To be honest, this is the first time I've heard of this. I have never seen someone ashamed of their work, or did not speak, if it is not a crime.

It's not about being ashamed of telling people that you're into crypto but it's about being protective.

There's the understanding that when you're into stocks, it's totally fine as it's what the rich people does.

Whilst in crypto, when you tell it to people, they'll be imagining that you are too wealthy and there were series of personal attack to people who owned crypto with the intention of stealing their crypto.

Not everyone understands about crypto and in fact many people still get misinformed about crypto. So some people do choose to keep it a secret
that they are actually investing in crypto. This is done as self-protection from negative things circulating about crypto, because there are still many
people who say crypto is illegal and a scam. Very much different from the stock market which has been known to many people for a long time,
so if other people know that we invest in the stock market, it makes us proud. Because most people who invest in the stock market are rich.
This is what makes some people uncomfortable if they have to tell others that they are investing in crypto. Things like that cannot be left alone,
we must dare to tell others that we are investing in crypto, explain well about crypto to others. So there will be more people who think positively
about crypto.

Wiwo

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What's the difference between stock market trading and cryptocurrency trading, if you study them both it means the same thing but on different platforms and commodities. So when next anyone says he/she is into stock market trading you should ask further what commodity they trade in the stock market.

Wildwest

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Crypto valuation has not been fully positive value by every individual so it is very different from the stock market, and the risks we face are greater in the crypto world so this is the secret in making investments and when we fall in the crypto world we do not want anyone else to underestimate us because they consider the reputation of crypto very weak, although sometimes we can only smile with their negative assumptions and those of us who understand more about the world of crypto silence is The best way to solve this problem, then we as crypto users know that stocks are more popular among the public and we don't care about it.

romero121

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A real time incident happened just 30 minutes back. On travel met a person from my region (means around 10km from my hometown). I don't know him and as we're from closer region we had a conversation. He is completely a stranger to me. Both introduced ourselves and then the conversation happened as below.

Me : What are you doing now, because he said he quit his job few months back.

Him : At present I'm into stock market related investment and trading, and he raised a question what am I doing?

Me : I was into cryptocurrency related investment and trading.

Him : Now he said myself too into cryptocurrency investment, and I keep hold of two ethereum and more other cryptocurrencies.

Me : Asked why you said it as stock market related investment and trading.

Him : I find it hard to make people understand it. If I say stock market people easily grab it.

We think one next to us isn't aware of cryptocurrencies, but the reality is different. This is also a major reason why people find it cool to introduce their participation into stock than cryptocurrency.

Marvell1

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Maybe due to some governments' strictness towards cryptocurrencies, stocks and forex are mostly recognized as legitimate forms of investment. On the contrary, crypto is not recognized and a lot of scam projects from the crypto market are created. This really hurts the reputation of bitcoin and the market. Besides, I don't think we should brag when it comes to crypto, crypto is highly decentralized and anonymous so I think it should be kept secret.

livingfree

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Quote from: ?? on ??

To be honest, this is the first time I've heard of this. I have never seen someone ashamed of their work, or did not speak, if it is not a crime.

It's not about being ashamed of telling people that you're into crypto but it's about being protective.

There's the understanding that when you're into stocks, it's totally fine as it's what the rich people does.

Whilst in crypto, when you tell it to people, they'll be imagining that you are too wealthy and there were series of personal attack to people who owned crypto with the intention of stealing their crypto.

Rishabh riyz

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While investing is stocks people are directly getting involved and investing in a company that they think might grow and be profitable , they are regulated by government and hence are legal ,
but if we see crypto its basically just a digital asset which are mostly unregulated due to its decentralized nature , they are accepted as legal tender in only one nation and most of the countries are observing and are confused between the legality of crypto , plus online stock exchanging are around from 1970s with roots starting from 1600s , before cryptocurrencies , stock was the biggest profit making asset.
plus stock being legal might be the major reason behind your query.

24Kt

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Quote from: chanler on October 12, 2021, 04:33:45 PM

I think not everyone understands about crypto and some people have negative views about crypto. So that's one of the reasons why people are more secretive about crypto. but I think here, especially in a country that has accepted crypto, people have started to understand it and even many are starting to learn about the crypto world. so it really depends on the scope of the people whether they can accept crypto or not.

Indeed! Still a lot of people have negative outlook towards crypto. They usually think that crypto is used for money laundering or it is a scam. But I believe, this perspective is changing as a lot of them are also educating themselves especially when known personalities like Elon Musk got into this market or when big financial institutions like MicroStrategy are heavily buying bitcoin. And now, with countries like El Salvador making bitcoin as legal tender, definitely, they will take a second look why a country will make this as a legal tender. So their perception towards bitcoin is changing because of the stakeholders that are known to promote this currency.
But in my experience, it is better not to divulge your crypto dealings because it is hard to explain it to others. Better mind your own business here so at least less headache.

chanler

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mulierum.com

I think not everyone understands about crypto and some people have negative views about crypto. So that's one of the reasons why people are more secretive about crypto. but I think here, especially in a country that has accepted crypto, people have started to understand it and even many are starting to learn about the crypto world. so it really depends on the scope of the people whether they can accept crypto or not.

Vaskiy

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Such a mentality is found among people who are from the countries in which cryptocurrency isn't legalized. Earlier there is an understanding that Bitcoin is developed for the purpose of gambling. This had a negative opinion among people, and that also makes people uncomfortable saying they're into gambling. Now things are different and people are aware about the real market. There is positive news on bitcoin legalizing, so then onwards none will feel bad or keeps their participation into crypto a secret.

qwertyup23

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Quote from: 9thsky on September 18, 2021, 01:43:25 PM

Ever noticed how people would boast or proudly proclaim (or at least used to) that they invest and trade stocks, but they don't feel the same way about crypto, as if it's a secret never to be shared? Why is that?

I think it has to do with the recognition of stocks compared to cryptocurrencies.

Remember that trading stocks is a legal way of investing either short/long-term as it is recognized globally. Not to mention, almost all of tyrants in the business world are engaged into stocks. That is why, whenever someone mentions that they are into stocks, people assume that they are knowledgeable on the market.

As for cryptocurrencies, there are countries which prohibit the utlization and transaction of such. Being decentralized, it has this anonymity factor where transactions cannot be traced. This posed a problem before where it has been used as a money laundering scheme which further degraded crypto's reputation over the years.

fullhdpixel

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Quote from: 9thsky on September 18, 2021, 01:43:25 PM

Ever noticed how people would boast or proudly proclaim (or at least used to) that they invest and trade stocks, but they don't feel the same way about crypto, as if it's a secret never to be shared? Why is that?

That is not true at all, people who invest in crypto currencies such as Bitcoin do boast of it. Unless maybe that’s how it is for you you don’t see people that boast of it but I can tell you for sure that so many people who invest in Bitcoin always proud that they’re investing in it.

But sometimes it’s good to keep whatever business you are doing to yourself, whether it is stock market or cryptocurrency market, sometimes it’s good to have a secret and just keep it to yourself when it has to do with business. Why people might want to keep something secret is because they don’t want to draw a lot of attention to themselves, and you know how jealous others can get when you are doing really good in your business.

Rruchi man

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Quote from: Bitcoin_Arena on September 18, 2021, 06:36:13 PM

2. Security purposes. Remember, unlike stocks where you have a custodial services keeping for you your investment, for Bitcoin, you are in full control of your long term investments via paper or hardware wallets. You are a damn moving bank and by telling people you have a certain amount of Bitcoin, you are putting a target on yourself.

Exactly, you should consider your security mostly. Because telling people may just put you in harms way. It's not like it should be a complete secret, but it is not something to always talk and brag about to people and everyone you come across. If you speak about it so much, and someone happens to get a hold of your phone or devices where your wallet is stored, you could loose all your portfolio and have no idea who did it. You should generally be careful who you discuss investments that you have with.

oktana

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Firstly, you need to understand that stocks is different from crypto. Crypto is a currency but stocks isn't. Because it is a currency, worth a lot, can make you rich quickly(people's belief), it's something worth keeping discreet. You could save yourself from government trouble(depending on your country). Keeping it discreet can also save you from getting hit by a $5 wrench. Unlike stocks, bragging about crypto or even telling people you're into it can start attracting some unwanted attention which could end in a robbery. You definitely don't want to be a victim of such.

Topic: Why is telling people you're into stocks "cool" but crypto is a big secret? (Read 718 times)