Topic: Assumptions of People who don't know about bitcoin... Ki - page 2. (Read 518 times)

People have difference of understanding about cryptocurrency. Recently met with a brother who is working in Canada and on discussion about investment I said about cryptocurrency. Immediately he said why should you go for it when you've got more other choice. It shocked me, because I've thinking that people from USA and Canada are much adopted to cryptocurrency. This was against that and further he added about a life incident. His friend lost $100k investing in cryptocurrency and I wasn't able to understand how it happened. Even if he have invested in any worst project it'll not be such a loss. From that incident he doesn't look into cryptocurrency. From this I understood, someone's mistake will also create a bad opinion on cryptocurrency.

This is not new to everyone as skeptics have always asked this. But is bitcoin really a bubble? The fact that until at the present time bitcoin is very alive simply defines that bitcoin is not a bubble and its not going to burst out.

People always have their own misinterpretations about bitcoin but we can't blame them because they lack the knowledge and the facts about bitcoin. However, if they can go depth in research with bitcoin, that's the time they will clearly understand the real potentials of bitcoin instead.

I googled it, if fiat money is a bubble and it says yes. It can be true because fiat money's value can decrease over time due to inflation and after the creation of btc, it was then said to be the fiat killer. Btc is immune is to inflation. Despite of how good btc was versus to fiats, there are still people that claims to be that btc is a huge bubble therefore we can also say that btc is a needle to its own bubble.

Btc market is not small mate but it is huge and it's now being compared to apple and other huge names in the industry. It can do an impact to the financial market and others can do an impact too to bitcoin. They just give and take. People change so don't say that people that don't understand btc or blockchain can stay the same.

Going over the first time I heard of bitcoin, I was intrigued but did not find any use for myself and therefore I removed it from my thoughts. But then I found that donating to certain sites was possible anonymously through bitcoin and then I took interest in it. Frankly, the technical aspects of bitcoin are not a part of my current line of work so I keep that to a bare minimum.

But getting put off by these words is a common thing that I also have encountered while trying to discuss the topic of bitcoin with peers and colleagues. It will take a long time, in my opinion to come out from this and make no-coiners to bitcoiners. What I have seen is that those who are already into bitcoin remain in bitcoin because they know the ins and outs of the currency.

It may be true that if governments start patronizing crypto it will take a different turn.

There are some which are helpful but overall they do just simply stick out with the basics which is somewhat do but there are always some hidden agendas out of those vlogs and videos which newbie
would easily be victimized with those kind of intents which is sad and on the time that that they had lost money then those impressions would really be going into negative side
on where people would be having that long lasting kind of wrong impression but once they do realize things up then they would be definitely be changing their mindsets.

I have spend my good years in studying and researching about bitcoin and have gone through various articles and books to know how it works,what makes it decentralised and deflationary currency so slowly and gradually have developed faith in it myself and educating others also about it.

I am bitcoin supporter and past nine months DCA investor aslo if you go through my post history you would find it also.People need to understand it in some more level as layman's language simply say it is digital currency like digital cash so what's the difference? All cryptos are digital but why btc is the best they need to know and then only these assumptions could be avoided.

You have forgotten to mention the oldest and the original source where you could have the accurate information about bitcoin on various topics and in layman's language also this Bitcointalk forum which is the library for those who wish to read and enhance their knowledge while for some it's some earning place with bounties.How many good and educated youtubers are out there who can give you in depth knowledge about it other than Andreas Antonopoulus the writer of Mastering Bitcoin? All of them are giving out crap knowledge just to earn through paid promotions and other articles may contain inaccurate information.

The information on the forum can't be tampered because there are members who will guide you in the right direction with their knowledge and experience in the bitcoin of which you could take advantage to know and clear your doubts about it.The true way leads to your success.

Not all in Social Media and even in Youtube are helpful, many of these influencers teach the wrong strategies and ideas to the viewers and followers. I agree this helps to spread the name of crypto but not I appreciate them all as some of them are misconceptions. These wrong assumptions towards Bitcoin can be corrected by ourselves if we clearly understand the nature of the market. For as long as it wasn't yet changed, many were still thinking negatively against Bitcoin, against cryptocurrencies.

The criticism show the reality of bitcoin to those countries that refused to make it legalized in their societies. Many countries that adopted bitcoin ,will never say anything bad about bitcoin because it has helped the country economy to grow and to reduced unemployment in different societies. It will be difficult for such countries to say negative things about bitcoin than to advise other countries to make it legalized for their citizens to enjoy in the country.
People who don't understand what bitcoin is all about are the one that criticism or hate decentralized currency because their leaders refused to make it legalized for their citizens. 

Change the mindset of yourself and then others. Provide an explanation that is easy to understand by lay people who do not understand what bitcoin is.
Bitcoin is just a tool that can be used for anything, just like a knife that can be used to peel an apple and can also be used to harm someone.

Currently, there is more and more education about bitcoin, explanations on youtube, social media, etc., will provide insights about bitcoin for beginners.
So some negative assumptions about bitcoin exist because they didn't study it completely.

Then, I guess we don't have to live that forever, this was the time to change it. We help them to realize that what they heard about rumors, fake news, or anything that talks negatively about Bitcoin is wrong.

*Bitcoins is a scam
*Bitcoin is a bubble
*Bitcoin is a Ponzi scheme

Assumptions can be wrong and it was definitely wrong seeing Bitcoin by now. Misconceptions, misunderstanding, it will just happen if we keep our mind close to reality, we instead open it and accept the changes.

The internet has made searching for information much easy and faster, like they always say, Google is your friend. Yeah I know people in remote areas without no Internet access can not be included in this description, but for those people who have access to internet and the means yet not doing any research (even as little typing what is Bitcoin in the Google search engine) has no excuse.

They say information is power,  no knowledge is wasted, for the purpose of knowledge and knowing, it is important to seek this information (even if no intention to invest)  unfortunately some people only pick interest on things that are very pressing to them, or rely on rumour instead of doing little search. It true, there a lot of misconception about btc which is not supposed to be if only people can spare a bit of time to be informed .

The highlited word rumour in your post is what i am trying to explain in this thread that people who don't have knowledge about it mainly are sorce of spreading FUD's and fake things in the market.This is common in most of the spaces where people who don't like it for example the government and banks those holding the central chain of authority and fear btc could break it up spread rumours about it so common people don't trust it.But the problem with majority is they don't try to understand it in detail like how it works and the brilliant idea setup by Satoshi that still makes it decentralised with security.

I am also not imposing bitcoin on anyone but just saying them to once read about it in detail and then choose their path and faith about it.

Yeah I completely understand that for some it's best option while for some it's not.But the main concern is with people who think their zero utility shitcoin is better than bitcoin and can survive the market while btc bubble will burst but that's not true which they can understand or don't.The people has full right to choose the path but guiding as a community member to help someone secure their future with clearing these small fake assumptions is better way to go through according to me.Rest we all can decide what's best for us.

No i didn't design the image and came across it through social platforms and like to see these crypto related information and memes over the internet.So just shared it with you all.For many investors it is source of gaining fast profits but that's not right.You can surely make profits but in the long run but over it observe it as financial tool that provides you freedom from government monopoly that can restrict you of your funds anytime as we have seen in Russia.

I would say it is good if we are exploring the good and bad facts of anything to find out how good it is but the problem with some people is who don't like it is that they already have some pre-assumptions in mind that it's highly volatile and risky and used by criminals or any other which automatically restricts them from investing in it.But if you have some time then first of all go in the depth analysis and then jump to conclusions.

Bitcoin is slowly gaining faith of people with time as many are now educated and aware about it but still less know about its technical working but fiat has been here from ages and btc can't vanish it but can dilute the usage.The progress is necessary which we are making.

There could be some related threads but the talks are real in the market and people ignore these posts.I also don't want to convince people by explaining them what are the myths about bitcoin but only a small try to make a little percentage of people that we all have some perceptions in our mind the way we have encountered with that thing like what's happening with those who don't completely understand bitcoin but if we make some efforts then it could be cleared.

The trends changes with time but bitcoin will still remain preferable options for many whose effect could be easily seen in long run.

In the past bitcoin was always underestimated by most people including me, because at that time many people didn't care about it and only knew the name but didn't want to know and understand more about bitcoin and its work.
and as time went by i saw some of my friends whose life changed because of bitcoin and in the end i tried to find an answer to find out on the internet more about bitcoin and how it works, and also asked some of my friends and they taught him which in the end i got involved and also enjoy the benefits that make me more excited until now.
and when i got involved i heard a lot of people disparaging bitcoin because it is a scam and also used by criminals for money laundering and so on.
and I don't care about it all because they don't know and study it well which in the end people who used to belittle it now regret it because they see its price and popularity continues to increase.

I don't agree with that statement.
Bitcoin isn't bursting any fiat bubbles anywhere.The BTC market is just too small to have any significant impact over the bigger financial markets,like stocks,commodities,FOREX and real estate.
Bitcoin isn't interrupting the growth of fiat bubbles.Actually the fiat money printing helps for pumping the Bitcoin/crypto bubble.Basically every financial market(including the crypto market) creates and bursts price bubbles.
Anyway,I kinda agree with your view about the people,who mildly understand BTC(or don't understand it at all).I'm sure that the vast majority of the people will always be ignorant in regards to Bitcoin/blockchain technology and this will never change.

get-rich-quick schemes that some people assume because they see successful people come from Bitcoin. Without seeing what's behind the bitcoin. Indeed can't blame them if they assume that way. When they don't know what bitcoin is, their point of view will be different, some say that bitcoin is just a digital asset that has no future, MLM business, just a toy and so on.
I also didn't understand at first what the use and purpose of bitcoin was, but by studying and doing in-depth research, I understood and started to be in the bitcoin circle.

Did you design the image? It says a lot, I think a part about plugging of money from Bitcoin should be included. When you try to discuss bitcoin as internet money, they think it's just a place where they can come and plug their own shares, which is funny to me how they view bitcoin.

There was a time when I had to keep things to myself, the Bitcoin revolution is real, and many people are informed about bitcoin, however, not everyone will want to adopt the positive aspects of Bitcoin as they've been distracted by the traditional system, try to convince them, teach them, they will continue to call bitcoin various names and see it in various images.

Some people don't just want to hear about bitcoin, that word irks them and always view it as gambling, try to educate them about bitcoin, they wrongly assume you are attempting to initiate them into gambling. I have concluded that those who will learn and embrace bitcoin's workings will, while the zombies who are tied to traditional money will remain until the end of the world.

On the other hand, there is a big difference between you don't know Bitcoin and you simply hate Bitcoin for whatever reasons.

I admit that there are a lot of people who have these wrong perceptions of Bitcoin. But I suspect that a lot of the negative Bitcoin descriptions are not coming from those who truly don't understand Bitcoin but from those who have so much at stake in the system that Bitcoin is trying to correct. So these descriptions are not actually misunderstanding or misperception of Bitcoin but plainly attacks on Bitcoin.

To add to Bitcoin is a bubble and Bitcoin is used for crimes, there are also:

• Bitcoin is a Ponzi
• Bitcoin destroys the environment
• Bitcoin is a gambler's money
• Bitcoin is a money-launderer's tool
• Bitcoin doesn't have intrinsic value
• Bitcoin is not money (you can't spend Bitcoin, you can't convert it, you can't withdraw it)
• Bitcoin is risky
• Bitcoin is a creation of the CIA
• Bitcoin is a fintech fad
• And more

Bitcoin wasn't created to served as anonymous asset, it's pseudonymous: all address and transactions can be viewed/tracked by anyone if they search on blockchain explorer, don't forget if you ever KYCed centralized exchanges... you don't have any privacy anymore.

Many articles on 2017 and 2021 back often discuss about Bitcoin price breaking new ATH, obviously they're already know the value of Bitcoin. But they're invest on peak and when the price decrease, they blame Bitcoin.

I have no idea why you include gambling among darknet and illegal stuffs, you need to look offline gambling do exist and it's legal (depends on which country is).

Maybe I'm not well aware of, is there really a lot of underground or deepweb/darknet stuff BTC transactions that continuesly growing? I mean I know there are still silk road like market exist.  but it's not really that rampant now.  I haven't heard much about it.
I don't see any problems about gambling though. Because fiat currency is also used for gambling. The increase of crypto gambling platform means a lot of were adopting and it's really good for Bitcoin growth.

That meme is funny but still that is relatively positive way for people to be describing Bitcoin and their experience with it. On the negative side of things, the best description of Bitcoin is that it is a big scam and just another Ponzi scheme and therefore will not survive and will eventually get a zero value into the future. And there are so many famous and intelligent critics of Bitcoin who believe the same kind of thinking. Still, we in the crypto industry know that there is always two sides to the coin but why concentrated on the darker side when we already saw the light...the same conviction that lead El Salvador and its current president to declare BTC to be a legal tender?