Basically how every conversation has gone with people who don’t understand crypto lately…

“I think I’m going to invest pretty bigly in crypto right now I think it could get some awesome returns in a year or two”

‘Yea invest in the worst performing asset of the year’

“Well it’s like the best time buy since it’s so low and has gone through a massive crash”

‘Would you put your money in a losing and failing asset’

“It’s been around for a decade Im pretty sure it’s just a market cycle and will make a comeback eventually? Nvm forget about it”

I’ve had this identical conversation with so many people in the past week. Like with friends and family and acquaintances who are all interested in investing I bring this up.

Like am I the crazy one? Obviously investing at the possible bottom, at least much lower than before, is the best option? It’s been around for a decade crypto isn’t going away… anyone else experiencing this?

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18 thoughts on “Basically how every conversation has gone with people who don’t understand crypto lately…”

  1. When market goes down:

    “Hey hows your inrernet “money” doing lol, I read the news, bitcoin will be banned”

    When market going up:

    “Hey you sre into crypto, can you help me set up a wallet and buy some?”

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  2. Remember all those commenting when BTC was above 60k – that if it hit 20k one day will load a bag … So where are they now ?

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  3. I don’t get why people even talk about their investments IRL. For me that’s private. I wouldn’t go around showing people my bank balance, so I’m also not interested in people knowing I have enough income to invest, nor is it anybodys business what I’m invested in.

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  4. I don’t talk to anyone about my crypto as a general rule, there’s no point – I don’t need to be their saviour, I’ve got my own salvation to concentrate on. Even if squeezed into it by some crypto bro type, I massively downplay my knowledge and esp my stack.

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  5. Man, you talk to a lot of people about crypto. I talk to zero humans in real life about crypto, or investing in general.

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  6. Stop talking to people about crypto. You’ll just come across with a shiller.

    wen ur driving ur lambo around in two years, they’ll come talking to you.

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  7. I have invested in crypto during the current bear market.

    Investing in crypto is like investing in start ups, many will fail. A lot fewer cryptos will successfully come out of the bear market than stocks rebound. Investing in crypto is riskier than the stock market, especially in a bear market. The rewards are also potentially larger.

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  8. >It’s been around for a decade crypto isn’t going away

    You might want to look for a more convincing reason why it’s not going away

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  9. Talk about how banks and politicians cant be trusted to handle our money. See the inflation and sudden blocking of bank accounts.

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  10. With due respect, their opinions of my portafolio Will not feed me so Is just dust in the wind.

    Having said that, It Is a good idea to diversify beyond crypto.

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  11. Yeah you see it’s the”having conversations with people” part that’s causing your grief. I suggest abstaining from such behavior in the future to prevent further harm.

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  12. Nah my sister in law who’s never owned any crypto finally bought around $21K and asked me what I thought. I told her that it might dip further (this was before it dropped to 18k) but that DCAing in over the next few weeks to months wouldn’t be a bad idea.

    She’s a professional tradfi investor and from what I understand she and her tradfi friends have been discussing when to finally enter. So I think the savvier investors out there are finally coming to the table.

    I mean you look at the top dogs in the finance or tech world and you realize almost everyone has put some chips on the table. Doesn’t matter if it’s [Tim Cook](https://www.cnbc.com/2021/11/09/apple-ceo-tim-cook-says-he-owns-cryptocurrency.html) or Elon Musk or [Ray Dalio](https://www.cnbc.com/2022/01/05/ray-dalio-allocating-2percent-of-portfolio-to-bitcoin-is-reasonable.html), they’ve all bought in. So the people lower down the totem pole have been seeing that and waiting for their own opportunity to get a piece of the pie.

    Now obviously your average joe who isn’t a professional investor might not have this mindset but I’ve been surprised how many relatively savvy investors have been buying the dip when it dropped to 20K.

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  13. I don’t blame them, don’t forget, most people actually loose money in crypto,
    Duo to, scams, mistakes, shady projects, lack of regulation, FUD, taxes and all that.

    I bet majority of people are in big loss right now.

    And that’s not comfortable, specially if you have out a lot of money in it…

    Reply

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