Someone messaged me a few days ago, asking if they could hold one coin or sell it and invest the proceeds in another.
I could have easily answered and told them what I honestly thought, but I do not think I trusted my instincts enough to confidently tell them what I thought, and it was not because I doubted my ability to make sound decisions; I just did not want to be held liable for any potential losses they might incur.
I have not been stable enough to make decisions, and I have dreaded the ones I have made over the last year. Life is difficult, and you do not want someone else to go through it with you. Money problems are some of the most prevalent where I come from.
People will do the most unlikely things for a few dollars, and losing that money on a decision you asked them to make would be rather unfair.
Crypto is an even riskier venture, and while it can be rewarding, it is also extremely risky, and people must make their own personal decisions based on their own research and accept responsibility for any gains or losses.
Financial Vs Entertainment Purposes
You know how we tell people that our advice is not financial, but rather for entertainment? Yes. We usually do this because it is wild out there.
I believe we only do so because we can only speak for ourselves; we can not drag others into our crazy market decisions; we do not want them to see the coins they sold pumping and the ones we convinced them to buy dumping.
I have seen what crypto losses can do to people; they lose their minds and souls, and it is even worse for those who advised them to invest in the assets that caused their losses. Granted, we have our idols, those who have achieved success in space, but idolizing is not the same as taking their advice.
They have probably suffered a lot of losses over the years, and sometimes their influence and guidance should be focused on not repeating their mistakes. When it comes to cryptocurrency, we mostly speak for ourselves.
This means that it is a personal journey and decision, and we sometimes look to others to influence our choices because we value them highly. There are people I look up to in the crypto space, and even on Hive; sometimes I do things they do without their knowledge, and the reason I make the choices they do is because I consider it a personal choice and accept responsibility for these decisions.
Winning: Why Not Lose Too?
Most of the time, we want people to follow our financial advice because we want them to make money, we also do not want them to lose money because of what we told them to do.
However, there are some people to whom we can give financial advice without fear of repercussions, and this could be due to how close we are to them, the fact that we know they can afford to lose, our complete trust in what we tell them, or vice versa, though these people are uncommon. Most people do not want to lose when you are losing, but they will gladly win alongside you, which is why crypto is the wild west.
People will FUD your bag, buy it back, and make money off of you. Another person will have you pump their bag and then dump on you. This is why you do not see many people giving financial advice; instead, they will ask you to do your own research.
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
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