Why is telling people you're into stocks "cool" but crypto is a big secret? - page 2.

batang_bitcoin

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Quote from: zaesvlas on October 09, 2021, 03:23:47 PM

In general, I think that stocks and cryptocurrencies are quite similar to each other.

They're completely different from each other. It makes it look that they are similar because many people considered crypto as stocks too. You'll be investing into a digital asset and they're easily comprehending and showing it as an example of stocks.

Quote from: zaesvlas on October 09, 2021, 03:23:47 PM

It should be understood that both options provide that you need to find the most profitable option for investment.

And crypto, specific to bitcoin is what profitable to me. There could be a lot of money in altcoins too but it's hard to spot on so I'll be going with a slow but safer path.

zaesvlas

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In general, I think that stocks and cryptocurrencies are quite similar to each other. It should be understood that both options provide that you need to find the most profitable option for investment.

Fatunad

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Quote from: ReiMomo on October 09, 2021, 02:33:33 PM

Quote from: 9thsky on September 18, 2021, 02:43:25 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?

Legalization should be one of the reasons for not being open on it? And as many are not aware of crypto currency, those who invested might feel that they will be laughed at for investing in crypto. At times, since its money involved, current generation do not expose it often. I am sure, in near future, crypto investors will be proud to say that they have invested on Bitcoin or on any other crypto currencies.

Better to stay low-key or wont really be known that you are engaging with crypto and also its dumb that you wont really able to know on whats the stance of your government towards crypto which there are people who
do still decide to keep silent while engaging in crypto despite its been legalized or adopted because there are other viable reasons on why they are doing so just like on having your own security because this doesnt
only talk about legal aspect but also into ones safety because criminals are always around and if they do know that you do engage in crypto then they presume that you would have lots
and then those possible criminal acts could really happen.

ReiMomo

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Quote from: 9thsky on September 18, 2021, 02:43:25 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?

Legalization should be one of the reasons for not being open on it? And as many are not aware of crypto currency, those who invested might feel that they will be laughed at for investing in crypto. At times, since its money involved, current generation do not expose it often. I am sure, in near future, crypto investors will be proud to say that they have invested on Bitcoin or on any other crypto currencies.

dothebeats

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I’m honestly not confident in divulging such information, be it an investment in stocks or crypto. I get that it might seem ‘cool,’ but if my stocks or crypto holding ain’t worth much, what’s the use of flexing it anyway? Besides, from where I live, if someone has ‘investments’ on their arsenal, they are well-off, and thus can be a good lender for lender of money. I want to avoid that, that’s why as much as possible I am living frugally and dressing like a pauper.

No need to boast your investments anywhere. Just keep it to yourself for security reasons, too.

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Quote from: Imran232 on October 07, 2021, 03:43:47 PM

You know, an interesting part of my life that I didn't reveal to anyone, excluding my best friend and my family members, that I am in the crypto industry. Only they and me know that. The reason is that in our country, crypto is banned. So I am working almost secretly. So if this news spreads and other people want to know about it, then it might be problematic. When someone asks me what I am doing, I say freelancing. If he wants to know more, I say I am not only doing freelancing but also doing stock investment. But I am waiting for that day when my country approves bitcoin and I will tell everyone that yes, I am a crypto lover. Waiting for that day.

In my country, crypto is not banned but i believe keeping it as a secret is not a bad idea because it will give you your own privacy at least. People are now starting to be aware that crypto is a big time investment. So when they think i am into crypto, the first thing that comes in their mind is huge profits. So as much as i can, i don't want to give them the possibility to hack my own account and steal my possessions. But i am definitely not secretive to my family and to my close friends. They know certainly that i am into crypto and i think if they can have sufficient amount to invest, they will also start to learn about crypto. Of course, they can lend on me about sharing my knowledge on crypto.

Imran232

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You know, an interesting part of my life that I didn't reveal to anyone, excluding my best friend and my family members, that I am in the crypto industry. Only they and me know that. The reason is that in our country, crypto is banned. So I am working almost secretly. So if this news spreads and other people want to know about it, then it might be problematic. When someone asks me what I am doing, I say freelancing. If he wants to know more, I say I am not only doing freelancing but also doing stock investment. But I am waiting for that day when my country approves bitcoin and I will tell everyone that yes, I am a crypto lover. Waiting for that day.

Ucy

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I guess if you make stocks as easy to participate in as crypto and make crypto as difficult as stock, they will be proud to speak about cryptocurrencies. People typically flaunt things that are seen as valuable but difficult to have.
You could also blame bad publicity.

Blawpaw

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Well, I guess it has a lot to do with if you want to lay low or not. While some people still see cryptos as something tied to illegal activity, others already recognise the real potential it brings. I only speak about cryptos with close friends. I consider myself as a Crypto-Evangelist as I always try to pass the word along, but when speaking with people I'm not familiar with, I usually avoid speaking about it unless the subject comes. Thing is, while we need to advocate for cryptos, we always need to be careful with whom you speak about it and what you reveal about your personal crypto owning as this can become a security issue as well.

famososMuertos

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I think that your comment or appreciation is something more of a sensation-perception than a real data, because in reality regardless of the asset and the market that it is, it should be proclaiming "I am an investor" in fact many people look for experts not only for the investment experience if not for the privacy that this entails.

In any case, investments in cryptocurrencies have inherent the possibility of anonymity and consequently the security associated with the amount of the investment, so it is not necessary to disclose it. The people I know who invest in crypto are familiar and usually we only talk about prices and stuff but we never talk about amounts or how much we have in $$.

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Quote from: 9thsky on September 18, 2021, 02:43:25 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?

As they don't want to criticize and been told that they are investing in a scam. Well, that is what they know and most of the people around that investing crypto don't have better ends, but just losing. Well, that simply they hide it just the time has come they will prove them that they are wrong.
I keep secret, and I don't think it was a need for the people around to know what we are doing. Well, the stock market is known and that is how people got praise because they think that it was profitable(yes it was) but crypto is now the trend when it comes to investing and is much more profitable which don't see.

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Quote from: 9thsky on September 18, 2021, 02:43:25 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?

Almost Cryptocurrencies have a more negative connotation than stocks, especially when it comes to the level of risk, the reason that we can see on the internet mostly traders from stocks and good feedback, actually even on youtube you can't see crypto trading ads where only stock assets are available. this got me thinking quite a bit in comparison how risky stocks and BTC seem to be. as equal. I think it may be partly due to the ponzi projects that have distrusted quite a lot of people in this crypto market.

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Quote from: pawanjain on October 04, 2021, 12:21:56 PM

I am a person who hides all his investments and never brags about it. If I would have invested 100 I would just say that I invested 10 or 20 and that too only if the person is asking more about it.
I know some people who hides their crypto investments because of privacy and security risks.
I do agree with this though because talking about cryptocurrencies brings unwanted attention whereas scammers can't do more harm to us if they know have invested in stocks.
That's an advantage of investing in stocks that you don't get unwanted attention.

Agreed. Investing in stocks is actually considered as "normal" by people but whenever you tell them you invest in crypto, they immediately overthink it and sometimes, it's a totally bad idea to say it because the more people know about it, the more risky and dangerous it becomes. The best thing to do is just to keep mute and stay low. I know of a certain influencer that kept talking about crossing $1M and eventually crossed $5M but got hacked afterwards.

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Quote from: 9thsky on September 18, 2021, 02:43:25 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've noticed no such trend - I guess it depends on the social circle you're hanging around in if people are so quick to judge on your investment strategy. Maybe you should keep your investments to yourself until you find a like-minded group of people to share. People make such a distinction because companies have been around for centuries and when you buy a stock, you are just buying a "share" of a company, aka you become a part owner and get to share in any profit that company makes. I have often found quite a bit of arrogance in crypto owners as well, so it is a two way street - you should not have to hide it but do not assume that you are doing something superior when there is less evidence to base it on.

pawanjain

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I am a person who hides all his investments and never brags about it. If I would have invested 100 I would just say that I invested 10 or 20 and that too only if the person is asking more about it.
I know some people who hides their crypto investments because of privacy and security risks.
I do agree with this though because talking about cryptocurrencies brings unwanted attention whereas scammers can't do more harm to us if they know have invested in stocks.
That's an advantage of investing in stocks that you don't get unwanted attention.

Mpamaegbu

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I think the secrecy thing has to do with the wrong conception people who hear that one is into crypto have – Oh! He's rich." It makes crypto hodlers become self conscious and would want to prevent people from looking at them from that prism. In my country, what comes to anyone's mind if told that a certain person hedl as little as just 1BTC is a mental calculation of what that person is worth in the local currency. It's an unconscious thing and a lot of hodlers wouldn't want that happening to them. It's a security measure type of thing, if you asked me.

Again, stocks don't draw much buzz because the earnings/profits are always in that country's local currency unlike crypto that's paired with foreign fiat like the USD, Euro, Pounds, just to mention but three.

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Quote from: 9thsky on September 18, 2021, 02:43:25 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 don't know if this is an issue but I'm sure that the coolest thing is you're creating money through the market even what kind of market you are investing in. The Crypto market is not very different from stocks and we knew a lot of popular and rich people who're investing in cryptocurrency so it's not really a problem. Everyone has a different opinions and different perspectives on cryptocurrency and maybe for some, they don't want to support a decentralized market so maybe it's a shame for them to be involved in it.

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Quote from: 9thsky on September 18, 2021, 02:43:25 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?

it's no longer a secret. currently cryptocurrencies are widely known. it's just that people who are comfortable with their investments, and have made them profitable, sometimes don't want to try new things. so, they don't feel that the potential of crypto equals the investment they make. In fact, when people turn to crypto, and start abandoning their investments so that they are in danger of losing money, then they will fight cryptocurrencies.

Daniel91

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In fact, I was initially telling some of my friends that I was involved in crypto and that I was making money here.
However, they were not interested, soon the price of bitcoin dropped a lot, and to my friends it was proof that crypto is fraud.
Now the state institutions in my country, such as the financial regulator and the central bank, warn of the high risk and insufficient legal protection of crypto, and this is an additional problem.
I should pay the crypto tax as soon as I receive some crypto funds in my digital wallet, which is too complicated and impractical.
Because of all this, honestly, it's much easier for me not to mention that I have any crypto or that I deal with crypto.

Rehan Zakir

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Because crypto currency is banned in some countries and if any person from this country tries to deal in crypto currency then government can take serious action. So, that's is the big reason that why peoples keep secret when they deal in crypto currency market. Every country has its own stock market. And peoples works in stock market without any fear. But crypto market is a global market which is not related to any country.

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