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

[9thsky]

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?

[Upgrade00]

People I've met who are into cryptocurrency are usually vocal about it and are eager to share new information on it when they come across it.However, if there is any reservation, it would likely be due to the negative sentiment around crypto i.e, the narrative that it is used for scams. Such negative sentiment is wrong and is gradually fading as more people are becoming aware of how it actually works and the purpose of Bitcoin, but it would take a while for everyone should be completely receptive to it.

Also, there's the risk of getting your stash stolen from you. With cryptocurrencies, you are your own bank and would need to take measures to protect your funds, this involves remaining private about what you hold to avoid a $5 wrench attack.

[Saidasun]

I have heard more people talk about cryptocurrencies than they do talk about stocks. The stock market has a reputation of being cutthroat because of the movies and news stories about wall street. I do not advertise that I have invested in stocks because people assume that you only care about money. I do tell people that I have invested in Bitcoin because I want to promote cryptocurrencies because it only benefits me and the community when people adopt it. Stocks there is no benefit of talking about it because any one who invests in stocks could be your competition in cryptocurrencies their adoption increases the value of your crypto. I do not agree with your view that people talk about stocks more than cryptocurrencies.

However, if there is any reservation, it would likely be due to the negative sentiment around crypto i.e, the narrative that it is used for scams. Such negative sentiment is wrong and is gradually fading as more people are becoming aware of how it actually works and the purpose of Bitcoin, but it would take a while for everyone should be completely receptive to it.

Stocks have a bigger history of scamming behavior than cryptocurrencies. If you mention stocks to any one who does not know much about it then they always talk about the movie wolf of wallstreet and that paints out stock investors as shallow and drug fueled investors instead of real good people. Cryptocurrencies has the reputation of nerds and computer geeks investing in it.

[Ararbermas]

Crypto is more on negative than stocks especially when it comes how risky it's, reason what we can see around the internet were mostly traders from stocks and good feedbacks, indeed even in youtube you cannot see a crypto trading advertisement wherein only different stocks assets from popular exchanges such "Etoro". although within that platform its already available to trade crypto if i'm not mistaken. Well for me in my opinion it doesn't matter if crypto trading isn't not that popular,  i mean just be thankful that we knows about it. Lol

[Twinkledoe]

Crypto is more on negative than stocks especially when it comes how risky it's, reason what we can see around the internet were mostly traders from stocks and good feedbacks, indeed even in youtube you cannot see a crypto trading advertisement wherein only different stocks assets from popular exchanges such "Etoro". although within that platform its already available to trade crypto if i'm not mistaken. Well for me in my opinion it doesn't matter if crypto trading isn't not that popular,  i mean just be thankful that we knows about it. Lol

And most of the time, you will be faced with negative approach when you talk about crypto. So to avoid negative criticisms from others, not hide but better not mention it to them. But for those who are willing to listen, for me, I can always share my experience. Some people are not yet open to cryptocurrencies, and most of them thought that this is a scam or ponzi scheme. You can't blame them because it is their ignorance why they think like that.

[DOH!]

I don't think that's true, but it can be explained and understood that cryptocurrencies are still an invisible pressure on the government.  In addition, cryptocurrency is isolated by very large influence that can be involved such as politics, scams, hackers, etc. It creates a sensitive mentality that can negatively and directly affect them.  However, this depends on where you live.  I can comfortably share my experiences and insights with friends and colleagues without those psychological issues, because the country I live in remains crypto-neutral.  Not to mention crypto is now a massive net asset, they would feel pressured to say that I hold “10M or 100M assets in crypto” of course not many would be foolish to say so. Lol

[BIT-BENDER]

Crypto is more on negative than stocks especially when it comes how risky it's, reason what we can see around the internet were mostly traders from stocks and good feedbacks, indeed even in youtube you cannot see a crypto trading advertisement wherein only different stocks assets from popular exchanges such "Etoro". although within that platform its already available to trade crypto if i'm not mistaken. Well for me in my opinion it doesn't matter if crypto trading isn't not that popular,  i mean just be thankful that we knows about it. Lol

I think crypto-currency isn't more negative than stock, neither do I think the risk in crypto-currency is more than it is in stock, also there are many crypto-currency trading advert on youtube even crypto-currency traders on you tube that has good feedbacks -although I would like everyone to know the possibilities of scam traders both in stocks, crypto-currency and shares on YouTube- I think some people has more their favorite in knowledge and excitement between stock and crypto-currency, so can even have it for the two, anyways am always proud to say am a crypto-currency enthusiast.

[DaveF]

Because we don't want to spend 2 hours explaining it to people?

Seriously, I can say "I bought 10 shares of Boeing" and people may ask why, with the pandemic going on and the 737Max issues.
And I can then say, "Well they are 99.999% going to get this new drone contract from the US government and it's going to be worth more then their entire commercial aircraft division" and at that point we can discuss the pros / cons and thoughts.

Saying, I bought 0.1BTC on coinbase this morning, leads to.
1) What is it about crypto that I like?
2) What are the tax implications?
3) What about regulation?
4) What about the lack of regulation?
5) What do you mean nobody controls it?
etc.

So you don't talk about it.

The other side is when new people get excited about it and you then have to explain all the things that you have explained to people a dozen times before, sometimes you just don't want to deal with it. So you don't talk about it. So you don't have to explain for the 100th time that buying 'Dave's left testicle coin' is not going to make them rich.

-Dave

[Luqman]

This case is very subjective, you may see that kind of person but I never saw it. Maybe in your country crypto isn't legal as a digital asset, that's why people aren't brave enough to speak much about crypto investment or trading there. While in some countries that crypto is legal as a digital asset, people already speak much about it. They have strong reasons to announce their activities or their achievements in crypto because the governments allow crypto there. Soon, we will see all people around the world will be brave to speak much about their activities in crypto. Don't worry.

[Spack17]

Many people don't feel the same way because things are much more different when it comes to cryptocurrencies. Because cryptocurrencies are volatile assets. People are taking much bigger risks while they are investing into them. Even Bitcoin which is the number one cryptocurrency can't guarantee investors anything for the near or far future.

[Quidat]

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 havent encountered it though but the reason i do have in mind is totally a personal kind of view on where people doesnt share up much about crypto investment because they might mention out
things which are totally prohibited on their country which means that they might be put up in trouble if someone would really tell up that theyre engage on crypto.Other reason is about that
there are people who doesnt really like to share up the opportunity that they do get on engaging on crypto market because they are earning big and dont tend for others to overtake them.
Majority is really just keeping it on secret.

[Slow death]

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?

this happens due to regulatory uncertainty in each country, for example people who live in a country where they do not know if the government accepts bitcoin or not, they will not be on the street talking about bitcoin for fear of government reprisal in case someone reports to them, this is the first scenario. the second scenario happens when a country bans bitcoin the person from that country will also not talk about bitcoin on the street. But if someone lives in a country where bitcoin is regulated or the government tells people that they can invest in bitcoin that they are at their own risk then that person can talk openly about bitcoin on the street.

[Bitcoin_Arena]

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?

Would you go out telling people that you invested early in Bitcoins and now own 1000 of them?

I certainly wouldn't for the following reasons;
1. The Government, I guess you already know how fucked up the government is.

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.

[hatshepsut93]

Because crypto can be more easily stolen from you, while stocks/fiat money sit in some digital custodial account that require a lot of extra steps for full withdrawal. And also crypto is pseudonymous, so robbers will have easier time covering their tracks.

Another reason is that people don't want outsiders to get interested in crypto and then be responsible for all the decision that this person makes.

Some people believe that crypto is a scam or a bubble, so some don't want to admit trading it out of fear of being shamed.

[Beparanf]

In my case, I never share that I'm trading crypto because others don't know it and I don't want to explain it to them unless they ask me directly about what I'm doing and show some interest on it. And also many people believe that crypto is a scam or other negative thoughts because it was widely used by scammer on different ponzi to scam noob people and there is so much scam project that occur in crypto space.

If your point is sharing crypto casually to people who didn't know crypto should be encouraged then should think about it twice unless they are the one who insist it.

[cabron]

Crypto is for all where anyone can search for its information unlike stocks is that you have to be in the same group of people to talk about it. Talking about stocks makes them look smart, now talking about cryptocurrencies makes you even smarter.

I know some people, they are not even close friends of mine but he sometimes asks me if I was still in the stock market because he once talked about local companies while reading a newspaper where S&P and indexes are listed. He is gay, not a cross-dresser but talks and sounds very smart because he really is. Right now he is also into Bitcoin and ETH and talks about it too. It's not a secret anymore.

[Dave1]

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?

You may want to read this from [CryptoSec.info]: The $5 Wrench Attack.

So you can't just go to a bar and just meet someone and tell that you are into crypto. Not saying that you need to be secretive or something. But choose people you want to talk about, because there's danger out there when you are into crypto, whether online or offline.

[Dread Pirate Roberts]

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 feel that way. I'm actually proud of investing and trading in crypto, and it seems like a lot of my friends and family are asking me about crypto. I only answer in my personal opinion why there are people like that, maybe because of the lack of clear explanations to people about crypto and blockchain and technology they only know the price of crypto is volatile and dangerous.

[Wexnident]

Isn't it because stocks have become rather standard or normal that people already have that general idea of what stocks actually are already? Not to mention that crypto itself is rather new to most people, word of it mostly came out just a few years back after all even though it's already been a decade since its release. And honestly, I would much rather keep my assets a secret than brag about it if I could. There's the issue of security since really, I'd much rather avoid posting personal info of my life in social media or even friends personally, and would rather keep it to friend stuff you know? Not to mention that I personally view posting stuff like that publicly pretty stupid? Since it ties your personal identity together with your assets, basically letting everyone know.

[Jawhead999]

What does you mean about "cool"? I don't see people trading stocks in youtube are cool but much rather click bait and cringe, similar like trade Bitcoin. If they can made a good amount profit on trade stocks or Bitcoin, why they need to monetize in their youtube channel and put his own referral link? It's clear they either get endorsed or get ads on youtube only.