Bitcoin and misinformation - page 5.

GbitG

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Quote from: Barikui1 on November 06, 2023, 05:49:44 PM

Bitcoin as the father of all cryptocurrency have hard it ups and down since it came into existence, but what I observe lately is the misinformation about Bitcoin that got me worried like in this time and age, people still take Bitcoin as a scam.

Hmm, I never heard that anybody said that Bitcoin is However, it must have been heard that Bitcoin is highly volatile and there is nothing else but loss from investing in it. Anyway, it is probably their ignorance and stupidity that they consider Bitcoin a scam.

Honestly, guys, you know what Bitcoin is, whether it is a scam or not. I think there will not be a single person on this forum who is not aware of the benefits of Bitcoin. And everybody knows that Bitcoin is not a scam, but there can be no more authentic thing than that.
Moreover, you all are witnesses to bitcoin and have also experienced its benefits.

So it means that those people who consider Bitcoin a scam are ignorant; they have not benefited from something as valuable as Bitcoin. A rare invention like Bitcoin has not happened in the history of finance so far. If it were a coin, why would so many people in the world adopt it and earn money by investing? Rather, this is the argument that Bitcoin is not a scam.

puloweh555

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Quote from: Japinat on November 08, 2023, 02:58:35 PM

Education is always the key. A lot of us have been claiming that bitcoin is like this or like that, and that its a get-rich quick thing, and it turned out that everything we believe about bitcoin are not actually the facts since we never get the chance to do due diligence to research since we only rely on information coming from youtubers who have nothing to do but to hype bitcoin or to attack bitcoin negatively.

This was exactly like me way back before. However, when I enter the bitcointalk forum, I realized that I've been living with lies on bitcoin and maybe that's the reason that I fail to appreciate it. Bitcoin is the key to experience freedom from the shadows of the government. Bitcoin is our future. And with its decentralized blockchain, it's giving us the opportunity to use and invest bitcoin freely without the interruption of the government or from any third party or group.

Correct. Education is very important in investing in bitcoin. Indeed, what you said is true, previously I also thought that Bitcoin was the same as other cryptocurrencies which did not have clear fundamentals, because at the same time I also saw that many cryptocurrencies ended up being scams and were not suitable for investment, especially for the long term. , I couldn't differentiate bitcoin and altcoin before because I thought they were the same.

After I was on this forum, I just studied more deeply, it turns out that Bitcoin is different from altcoin, even though they are both Cryptocurrencies, but their goals and fundamentals are very different. So it's important for us to learn about something fundamentally, don't just follow along with other people, education is the most important thing. Likewise, for many people who consider bitcoin to be a scam, perhaps they have not learned everything about bitcoin, this is a task for all of us to continue to educate bitcoin as the freest investment without the control of other parties.

Ryu_Ar1

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Quote from: knowngunman on November 08, 2023, 11:41:46 AM

Quote from: Barikui1 on November 06, 2023, 05:49:44 PM

I wouldn't deny that in my early days of investment, I really was unconvinced by the presentation i had about Bitcoin, which I took it as one of these fraudster trying to milk the general public as mmm did, but with time, after doing some research and finding I discovered how misinformed I was about it.

I can confidently say that your experience is definitely not unique because a lot of people including myself initially dismiss Bitcoin as a scam because we don't understand how it works or what it's for but once we take the time to learn about it, we often change our minds. The truth is that we don't need to force anyone into bitcoin. It's something that everyone will understand and eventually adopt if they can dedicate out time to learn about it and how the system operates. It's normal thing to assume something as scam in the first experience but it is not normal to conclude and affirm your assumption without making more research about the thing in question. This misinformation are being disseminate by people who are still new in the system and believe that bitcoin is like a ponzi or get rich quick investment.

In the end, all lay people who do not know about bitcoin will definitely have some kind of wariness about bitcoin and that is a normal thing and even when talking about experience, I previously even became one of the haters who moved many people not to be in bitcoin even though it came from work demands that did require me to convince people against fiat and banks but the hatred grew when bitcoin continued to rise and rise so that I did not like bitcoin. But now it is reversed where I who initially hated it was in bitcoin and became one of the people who invested in bitcoin.

All have such a process but in the end when we really study seriously then we will definitely choose bitcoin as one of the options for investment and I am such an example.

Japinat

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Quote from: Barikui1 on November 06, 2023, 05:49:44 PM

Bitcoin as the father of all cryptocurrency have hard it ups and down since it came into existence, but what I observe lately is the misinformation about Bitcoin that got me worried like in this time and age, people still take Bitcoin as a scam.

I wouldn't deny that in my early days of investment, I really was unconvinced by the presentation i had about Bitcoin, which I took it as one of these fraudster trying to milk the general public as mmm did, but with time, after doing some research and finding I discovered how misinformed I was about it.

Right now most people are like me years back, they are totally misinformed about Bitcoin, the best I do for them right now is to educate them about it, which some even told me what they think Bitcoin was, which is totally untrue about it.
but in as much as am trying to share knowledge about Bitcoin to those who lack it, I don't try to force it on anyone so they won't see me as a scam.

Education is always the key. A lot of us have been claiming that bitcoin is like this or like that, and that its a get-rich quick thing, and it turned out that everything we believe about bitcoin are not actually the facts since we never get the chance to do due diligence to research since we only rely on information coming from youtubers who have nothing to do but to hype bitcoin or to attack bitcoin negatively.

This was exactly like me way back before. However, when I enter the bitcointalk forum, I realized that I've been living with lies on bitcoin and maybe that's the reason that I fail to appreciate it. Bitcoin is the key to experience freedom from the shadows of the government. Bitcoin is our future. And with its decentralized blockchain, it's giving us the opportunity to use and invest bitcoin freely without the interruption of the government or from any third party or group.

Youngkhngdiddy

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Quote from: knowngunman on November 08, 2023, 11:41:46 AM

I can confidently say that your experience is definitely not unique because a lot of people including myself initially dismiss Bitcoin as a scam because we don't understand how it works or what it's for but once we take the time to learn about it, we often change our minds. The truth is that we don't need to force anyone into bitcoin. It's something that everyone will understand and eventually adopt if they can dedicate out time to learn about it and how the system operates. It's normal thing to assume something as scam in the first experience but it is not normal to conclude and affirm your assumption without making more research about the thing in question. This misinformation are being disseminate by people who are still new in the system and believe that bitcoin is like a ponzi or get rich quick investment.

I fell like its ignorant that cause most people not to invest in bitcoin, the lack of knowledge make them formulate all this rumor about bitcoin being scam, and those who fall for the scammers they basically do not have any idea about what they are getting into and how to go about it that was why there were scam ignorance still comes to play. Knowledge is power and a very important tool to fight ignorance. Though not everyone will invest in Bitcoin, some people just like to invest in what they can have hold of, we still have the old fashioned folks too as well that don’t want to go with the transitioning.
When making investments without being confident of the outcome, it is crucial to exercise caution. The assistance of roll consults limited can be used to recover cryptocurrency scams. It's critical to be aware of these con artists games and to stay away from anything that seems too good to be true. Before engaging in any transactions, always conduct due diligence to confirm that the source you are working with is reliable.

knowngunman

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Quote from: Barikui1 on November 06, 2023, 05:49:44 PM

I wouldn't deny that in my early days of investment, I really was unconvinced by the presentation i had about Bitcoin, which I took it as one of these fraudster trying to milk the general public as mmm did, but with time, after doing some research and finding I discovered how misinformed I was about it.

I can confidently say that your experience is definitely not unique because a lot of people including myself initially dismiss Bitcoin as a scam because we don't understand how it works or what it's for but once we take the time to learn about it, we often change our minds. The truth is that we don't need to force anyone into bitcoin. It's something that everyone will understand and eventually adopt if they can dedicate out time to learn about it and how the system operates. It's normal thing to assume something as scam in the first experience but it is not normal to conclude and affirm your assumption without making more research about the thing in question. This misinformation are being disseminate by people who are still new in the system and believe that bitcoin is like a ponzi or get rich quick investment.

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Quote from: Barikui1 on November 06, 2023, 05:49:44 PM

Bitcoin as the father of all cryptocurrency have hard it ups and down since it came into existence, but what I observe lately is the misinformation about Bitcoin that got me worried like in this time and age, people still take Bitcoin as a scam.

Actually in this case when it is said that bitcoin is considered a scam it is not a very taboo thing because in my opinion it is a condition where it has become commonplace when there are a handful of people saying that for several reasons such as losing money or indeed control of the bitcoin is small so start trying to provide other doctrines so that other people do not want bitcoin because it is considered detrimental.

The average beginner also who has lost money says that this is a scam. but is it bitcoin's fault? of course not because in the end when someone feels a loss in bitcoin when trying to invest and trade it doesn't mean the bitcoin is wrong but they are the ones who don't really understand what bitcoin is that makes it difficult for them to be in bitcoin and consider this a scam.

savetheFORUM

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Quote from: yhiaali3 on November 06, 2023, 10:24:04 PM

The time has passed when people could believe that Bitcoin is a scam. The reality imposed by Bitcoin through its strong presence and overcoming all the great difficulties it faced, especially by governments, proves that Bitcoin is not a fraud and that it is here to stay.

Therefore, you do not have to convince people that Bitcoin is not a scam. Let them discover that for themselves. When they see Bitcoin reaching astronomical numbers and that large institutions begin to accept Bitcoin and invest in it strongly, then they will know the truth. But they will regret it at that time.

Many people already know the truth and are convinced that BTC is not a scam but there are still a small percentage left who are in doubt. There are people who are not yet aware of BTC and once they heard it, their reaction can still be dual. Either they will also doubt or they are now excited to join it. So, don't say that there is no need for us anymore to convince people that BTC is not a scam coin.

We should still do it and we should hurry because I'm afraid these people will heard the wrong info about it. BTC overcoming all of its obstacles won't be possible if without the help of the people and of course the man behind it which is Satoshi Nakamoto. So we should also give credits to them. You should be proud of your self if you are one of those people who didn't leave BTC through thick and thin.

Essential10

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Bitcoin is considered by many to be a scam. The reason is (MLM) business i.e. mobile letter marketing, in some countries this technology is used to mislead strangers so that they can get money. It was once widespread. Attempts to make illegal gains using this type of technology are generally considered fraud. At this time, more people are getting to know about Bitcoin technology and its utility and it is becoming more secure and trustworthy. However, it may take time for those who are involved with this technology (MLM) first. Bitcoin is a technology that is completely dependent on technology and geographical location. It is important to know what it is, how it works, and its social and financial impact. To create enthusiasm for Bitcoin, you can increase its institutional knowledge and trust. It is important for a user to know how to buy bitcoins and where to store them. This can be local or online enhancements, and can mean hardware or software manuals to stay secure at all times, as we say. In fact, the main point is that depending on my or your ability to explain or the process of explaining, Bitcoin is wrong information or correct information.

Antotena

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Quote from: Barikui1 on November 06, 2023, 05:49:44 PM

Bitcoin as the father of all cryptocurrency have hard it ups and down since it came into existence, but what I observe lately is the misinformation about Bitcoin that got me worried like in this time and age, people still take Bitcoin as a scam.

I wouldn't deny that in my early days of investment, I really was unconvinced by the presentation i had about Bitcoin, which I took it as one of these fraudster trying to milk the general public as mmm did, but with time, after doing some research and finding I discovered how misinformed I was about it.

Right now most people are like me years back, they are totally misinformed about Bitcoin, the best I do for them right now is to educate them about it, which some even told me what they think Bitcoin was, which is totally untrue about it.
but in as much as am trying to share knowledge about Bitcoin to those who lack it, I don't try to force it on anyone so they won't see me as a scam.

Scams happen everywhere even in the fiat system. Dozens of fraud are been committed everyday moving funds from bank to bank and are reported to banks but do you know that banks don't do anything about it? They just ignore the victims and move on like their customers are not important, I'd that system better than decentralized currency.

Bitcoin is not a scam, anyone scam of their bitcoin are only ignorant of how badly scammers are perpetrating and disguising into different means to get away bitcoin from the original owners of the bitcoin. The genesis of how this can be protected is making sure that your private key and seed phrase is never exposed, to make sure that they don't send their bitcoin to anyone incase or impersonation.

Always make sure you don't put your information in a wrong places, don't live your coins on the exchange and custodial services because if this places run away, you may lose your bitcoin. This are just few ways you can lost access to your bitcoin. Beginners should also embrace learning if they have bitcoin and should also make sure they read about bitcoin in reputable platforms.

Smack That Ace

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Quote from: Youngkhngdiddy on November 07, 2023, 08:47:50 AM

Quote from: Smack That Ace on November 06, 2023, 10:20:02 PM

If it were me, I wouldn't take the time to explain bitcoin to anyone, let those who consider it a scam continue with that thinking. I would only give time to people who really want to learn about bitcoin and focus their time on their investment.

Furthermore, as you also said, you also considered bitcoin to be a scam and then you realized everything. So let's let people approach bitcoin that way, we need to give people and bitcoin more time. There is no need to rush to force people to do things they are not ready for or do not need.

wish I could just scream NO at anybody who ask this question and tell them how Bitcoin is going to change the world. I will first start with features of Bitcoin. It is Easy Fast Secure Works 24*7 Decentralised Permissionless Then I will tell how it is better form of currency.It has limited supply. Unlike Fiat currency, only 21 millions Bitcoins will come to existence with the startup cryptocurrency investment company where you get double of your invested cryptocurrency. No central government or organisation have monopoly over it. Only Federal Reserve reserves the right to print the US Dollars and on their own wish. You either buy or earn Bitcoins.You do not need permission of any bank or card to transact in bitcoins.
it is excellent medium for exchange of goods and services It can be used to maintain accounts It is fungible. Moreover people like Bill Gates and John McAfee endorse Bitcoin. Then there are people like Andreas Antonopolis who works as evangelist for Bitcoins and make people aware about How Bitcoins is going to change the world and is not a get rich quick scheme.I would discuss about the poor condition of the world’s economy. Countries like Venezuela and Zimbabwe are on the brink economic meltdown. Bitcoins can give them freedom to transact again with the money which has value and not a piece of paper.Lastly I would tell story about immigrants in western countries and how expensive and slow it is for them to send money to their family. With Bitcoin is cheaper and faster way to send money back home to your parents, wife or kids. But I also know that nothing is permanent. With good there comes evil. Bitcoins has its own share of problems.

Once they have doubts and don't believe it, even if you explain it a thousand times and provide them with thousands of benefits about bitcoin, they will never bother. For me, giving advice to others is not explaining everything about bitcoin, it's just a waste of our time. Instead, you should show them proof, how you have changed thanks to bitcoin. Many people are even skeptical when you present living proof, let alone just tell them about empty theories. So I think we should only talk about bitcoin with people who have heard about it and are interested in it.

BitDane

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There are indeed stubborn people that keep on believing on the misinformation they get without even digging the truth themselves. As far as I observed, people who think Bitcoin is a scam are people who got victimized by fraud company. While other simply does not believe on the economics and system of Bitcoin.

If one encounter this kind of people, better try to have patience and never offer any Bitcoin investment idea because they may even tag us as one of those scammers.

When informing people about Bitcoin, we should not push the investment part. I believe giving the basic information about Bitcoin and its revolutionary idea will make people interested. There is no need to discuss about the profitability of Bitcoin market because they will find it themselves when they started researching about Bitcoin.

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Quote from: oktana on November 07, 2023, 05:42:08 PM

Quote from: thecodebear on November 07, 2023, 02:36:21 PM

Quote from: oktana on November 06, 2023, 06:12:16 PM

The core reason why people think that Bitcoin is a scam is a lack of understanding.

...
6. They personally got burnt by getting into Bitcoin during a bull run and selling at a loss on the ensuing crash, because they didn't actually know what they were doing when they bought it.
...

I had a friend who behaved exactly this way. He is into the crypto sphere however, when he makes an investment and waits for a while, a day or two after patiently waiting, the prices come back up and then he gets sad for selling too early. Afterward, he then calls crypto a scam (but he earns from it) because he feels someone could be regulating the price to not favor him. But I won't call his case misinformation, it looks more like frustration. Anyways, I generally think that it's easier to see the bad part than to see the good part so people tend to hold on to the bad side of Bitcoin so much that they don't see the good it does.

Bitcoin always seems like a scam to many people who don't understand how it works. I was in same category at first until I joined this forum and had to learn if its capabilities.
The media does more in enabling misinformation wherebeit the scam of FTX and other failed crypto projects has done well to give it such a say.

The misinformation also shows itself in the cases wherein it isn't the legal tender of a country or the government is trying so hard to control or regulate its activities.

Mame89

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Quote from: Oasisman on November 07, 2023, 05:09:24 PM

Quote from: Barikui1 on November 06, 2023, 05:49:44 PM

Bitcoin as the father of all cryptocurrency have hard it ups and down since it came into existence, but what I observe lately is the misinformation about Bitcoin that got me worried like in this time and age, people still take Bitcoin as a scam.

You were not alone with that misconception and I don't blame those people who remained skeptical about bitcoin up until now, because of the several news articles that tackles about negativity about bitcoin and some crypto related scams.
You have no obligations to teach or educate these people, you will only get the same results just like when you were not convinced by other people who engaged in crypto before.

Misunderstandings are true in all countries, something like this is bound to happen, there are so many people who misjudge Bitcoin, even if it is explained, they still don't believe it because they have consumed wild information on social media. So it's not surprising that many people have pros and cons to Bitcoin, even in my country there are still many like that, there are more people who are skeptical of Bitcoin.

Sometimes I realize the situation, maybe in this world we really need balance. If everyone is pro bitcoin, demand is too high, the price will be very expensive, and I don't have many bitcoins yet. We really need people like Peter Schiff, Nouriel Roubini who are anti-bitcoin and who scare people to get people to sell bitcoin.

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Quote from: thecodebear on November 07, 2023, 02:36:21 PM

Quote from: oktana on November 06, 2023, 06:12:16 PM

The core reason why people think that Bitcoin is a scam is a lack of understanding.

...
6. They personally got burnt by getting into Bitcoin during a bull run and selling at a loss on the ensuing crash, because they didn't actually know what they were doing when they bought it.
...

I had a friend who behaved exactly this way. He is into the crypto sphere however, when he makes an investment and waits for a while, a day or two after patiently waiting, the prices come back up and then he gets sad for selling too early. Afterward, he then calls crypto a scam (but he earns from it) because he feels someone could be regulating the price to not favor him. But I won't call his case misinformation, it looks more like frustration. Anyways, I generally think that it's easier to see the bad part than to see the good part so people tend to hold on to the bad side of Bitcoin so much that they don't see the good it does.

Oasisman

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Quote from: Barikui1 on November 06, 2023, 05:49:44 PM

Bitcoin as the father of all cryptocurrency have hard it ups and down since it came into existence, but what I observe lately is the misinformation about Bitcoin that got me worried like in this time and age, people still take Bitcoin as a scam.

You were not alone with that misconception and I don't blame those people who remained skeptical about bitcoin up until now, because of the several news articles that tackles about negativity about bitcoin and some crypto related scams.
You have no obligations to teach or educate these people, you will only get the same results just like when you were not convinced by other people who engaged in crypto before.

hugeblack

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No, some people believe that stocks are a scam. You cannot change people’s thinking over the course of several years, but it requires patience, and over a certain period you will find that all the people who were wary of investing in Bitcoin have become more open to it, either because they read more about it, or because more people bought Bitcoin because of the existence of a general regulatory framework for investing in Bitcoin, although I believe that such people would prefer to invest in Bitcoin indirectly.

You should avoid clicking on sites that provide misleading information because high views are what push them to continue lying.

The Cryptovator

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I am not sure how you have been misinformed about Bitcoin. So far, I know that due to a lack of knowledge, a few people spread misinformation about Bitcoin; they just present it as an investment opportunity. Very few individuals know about Bitcoin technologies and uses. That's the most common misinformation spreading around us. If we know how Bitcoin works, then anyone can't say Bitcoin is a scam. So it's most important to learn and spread the right information.

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Quote from: Barikui1 on November 06, 2023, 05:49:44 PM

Bitcoin as the father of all cryptocurrency have hard it ups and down since it came into existence, but what I observe lately is the misinformation about Bitcoin that got me worried like in this time and age, people still take Bitcoin as a scam.

Your past is some people's present, so some people are currently as misinformed and have doubts like you were just some time ago. Some people are not lucky enough and the first people they come across are people who do give them the correct information concerning bitcoins and that is what they then carry along. Misinformation has made many people not want to hear about investment in bitcoins and the bad thing is only a few of the misinformed will get to find out later that they had the wrong information.

ajiz138

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People who think bitcoin is a common scam are laymen who don't know what's what but they are only able to comment with the dirty word "scamers" even though they don't know about understanding bitcoin, this for me is no longer common because in our area there are still some who think bitcoin is deceptive because they see drastic price increases/decreases or their perspective leads to ponzi schemes.

I will educate those who come to me and want to learn about understanding bitcoin further about the basics that must be understood, I will not get involved so much in educating stubborn people because it will only spark unnecessary debates, people like that will remain skeptical of bitcoin, and usually when bitcoin flies high they will come and ask how to invest in bitcoin, it's not strange anymore.

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