Bitcoin overshadowed by economic lie

Furious 7

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Quote from: Mauser on July 02, 2023, 09:33:40 AM

Quote from: AbuBhakar on April 07, 2023, 09:53:11 AM

In the country that I live, Bitcoin has a stigma of being a scam because our own government warn the public to not engage on Bitcoin investment due to a lot of scam involves it and the volatility is high. Most of the people here including the old professional don’t dare to touch it despite Bitcoin already has good price history.

I heard these arguments in my country too and I always find them misleading. It's not like a huge number of scammers just came out of nowhere with the rise of crypto currencies. The scammers where here before and used fiat money to scam people. And there would nobody say we need to stop using fiat money because of the scammers. Everybody can get scammed out of his money, it doesn't matter what currency he is using. Instead of trying to stop people using certain currencies the government should work on educating their people better. Only when the citizens are aware of the risk of scammers they can be more cautious. Bitcoin has survived for so long now that critics should stop doubting the success and rather be more open to it.

Well, this is not something new because indeed looking at the current conditions even from several years earlier things like this have always been discussed and those of us who have been here for a relatively slightly longer time are clearly aware that things like this are like stale stories that are always raised to make beginners or laymen about bitcoin have a bad mindset about bitcoin.
I don't really mind this, because for conditions like this IMO when a reason is always done it will actually make many people curious and there could be people who are always looking for it for thinkers who have a strong desire to find the truth.

In fact, something like this provides a positive thing because apart from the reduction of people who are naive enough to always want something instant and in the end feel cheated and provide a reasonable statement, this is like a good filtering process in my opinion.
In the end, things like this will also not make bitcoin destroyed and it has been proven that it has been several years since bitcoin was said to be a scam but until now it is still strong and even the adoption rate is greater.

ginsan

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Quote from: arufox on July 03, 2023, 01:18:01 PM

Even though Bitcoin has been around for more than a decade, only a small number of people are involved in Bitcoin investment. Bitcoin faces challenges in the form of economic lies and disinformation spread by banks and the media that affect people's participation and perceptions of it. Negative propaganda, misinformation, and the stigma of being a scam can discourage people from getting involved in Bitcoin investing. Although Bitcoin has shown positive price growth in the long term, these factors may limit wider adoption and participation in this digital currency.

Don't really care about people wanting to drop Bitcoin. But they are always going to reap failures to make noise in the crypto space. We have heard people say that investing in Bitcoin is too risky but those are stupid words without any good reason why they should say that. If you look at more than a decade where Bitcoin has shown their strength as a more efficient currency to be owned by people in the real world. There is no big risk if they choose to hold in the long term because the use of Bitcoin is better than fiat.

At the same time, we have seen a country that has recognized Bitcoin as the legal currency in that country, and that is El Salvador. In fact they are more advanced now and Bitcoin adoption will continue to grow day by day. Maybe we will see many developed countries that will follow in El salvador footsteps.

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Quote from: AbuBhakar on April 07, 2023, 09:53:11 AM

Bitcoin exist for over a decade yet there’s only few percentage of the human population is involved on Bitcoin investment. Not because that the majority of people is not aware nor exposed but because they are the victim of economic lie such disinformation towards Bitcoin through negative propaganda of Banks.

We are all being feed of wrong information of economic norms by the billionaires that benefiting the current system. Bitcoin is the best asset to invest in terms of price growth on long term period yet people are still scared to touch due the wrong information given by the main stream media.

In the country that I live, Bitcoin has a stigma of being a scam because our own government warn the public to not engage on Bitcoin investment due to a lot of scam involves it and the volatility is high. Most of the people here including the old professional don’t dare to touch it despite Bitcoin already has good price history.

Quote

We are all being feed of wrong information of economic norms by the billionaires that benefiting the current system. Bitcoin is the best asset to invest in terms of price growth on long term period yet people are still scared to touch due the wrong information given by the main stream media.

They are afraid for exactly this reason, because they are long-term investments, it is understandable that people are involved in indecision since not having immediate results or knowing that they will not have them together with the bad information they are given and the volatility of currency they end up concluding that the best option is not to get involved with that type of asset.

This dispute that people who are discovering bitcoin maintain about whether it will actually bring benefits to do so or not, i think it is an issue that i doubt will end in the near future, and i..... think that is why it has not yet been achieved have a lot of demand with this coin, however despite these factors the minority that does not allow itself to be influenced by this type of comments are those that demonstrate how wrong they are and as accurate information about its validity expands, that if they can take advantage of it..... they will, start to change mind.

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Even though Bitcoin has been around for more than a decade, only a small number of people are involved in Bitcoin investment. Bitcoin faces challenges in the form of economic lies and disinformation spread by banks and the media that affect people's participation and perceptions of it. Negative propaganda, misinformation, and the stigma of being a scam can discourage people from getting involved in Bitcoin investing. Although Bitcoin has shown positive price growth in the long term, these factors may limit wider adoption and participation in this digital currency.

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Quote from: Mr.suevie on July 02, 2023, 09:50:32 AM

It is a natural phenomenon that people actually criticize and hate what is good when they don't use or know its value, and for government providing proper education for the people on a currency which most of them are also criticizing sound kinda absurd don't you think, although they are couple of nation which like and support the use of BTC but most government actually contribute to the massive hatred on BTC since its goes against their principles.

Here I also have no doubt about this when big fishes going to oppose things you need to understand this is better for common people's right now we have big monopoly against Bitcoin and many big names are also involved in this for having criticism about this as well because they are feeling if this technology and is going to spread things are going away from them and peoples are going to understand how cheat is going to happen around them.
Around the world mostly we have no Third World country encouraging about this even few developed countries are working on this as they are not able to stop this all but big part of world we have power authorities which are controlling all and not allowing for adopting of bitcoin and financial independence for the peoples as well.

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Quote from: Mauser on July 02, 2023, 09:33:40 AM

Quote from: AbuBhakar on April 07, 2023, 09:53:11 AM

In the country that I live, Bitcoin has a stigma of being a scam because our own government warn the public to not engage on Bitcoin investment due to a lot of scam involves it and the volatility is high. Most of the people here including the old professional don’t dare to touch it despite Bitcoin already has good price history.

I heard these arguments in my country too and I always find them misleading. It's not like a huge number of scammers just came out of nowhere with the rise of crypto currencies. The scammers where here before and used fiat money to scam people. And there would nobody say we need to stop using fiat money because of the scammers. Everybody can get scammed out of his money, it doesn't matter what currency he is using. Instead of trying to stop people using certain currencies the government should work on educating their people better. Only when the citizens are aware of the risk of scammers they can be more cautious. Bitcoin has survived for so long now that critics should stop doubting the success and rather be more open to it.

Scammers were, are, and will be part of our world, much like weeds in a garden. And to fault a currency for the misdeeds of its users... damn, its just me blaming the sun for the existence of shadows, is it not? The philosopher Socrates once said, "I cannot teach anybody anything, I can only make them think". That is our key weapon against scam artists - inculcating critical thinking in our citizenry. It's been a decade-long roller-coaster ride for Bitcoin, and yet, here it stands, resilient as ever. Surely, this "Phoenix of the Financial World" deserves more respect and less criticism, right? May our future be as bright and unshaken as the path Bitcoin has paved

PeRo

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Most of information which normal people get are lies. The system doesn't want people to be rich or be informed, so its logical that they wont support Bitcoin unless they can tax it or use to their advantage. Bitcoin can make anyone who invests smart rich or at least wealthier, without the government tracking your money and taxing it, which is mostly why we all work - to grow their economic system and earn them money.

The common man is just used to work for a bigger cause from which he gets very little in return, enough to survive or have a half decent life. Put your work in and put your earned money in banks, that's what they want. I'm not saying Bitcoin investors are some geniuses off the grid, but we at least have an opportunity to do what we want thanks to Bitcoin.

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Regarding the topic of Bitcoin adoption, it is clear that there are many factors that influence people's decisions to invest in cryptocurrencies, including education and awareness, regulatory factors, and market volatility. While negative propaganda and government warnings can contribute to hesitancy around investing in Bitcoin, there are also many positive developments in the cryptocurrency space, including increased institutional adoption and the development of more user-friendly wallets and exchanges.

The future of Bitcoin adoption will depend on a variety of factors, including continued technological innovation, regulatory developments, and the broader economic environment. However, it is clear that many people see potential benefits in investing in Bitcoin and other cryptocurrencies, and as education and awareness continue to grow, we may see greater adoption and investment in these assets in the future.

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Quote from: Mauser on July 02, 2023, 09:33:40 AM

Quote from: AbuBhakar on April 07, 2023, 09:53:11 AM

In the country that I live, Bitcoin has a stigma of being a scam because our own government warn the public to not engage on Bitcoin investment due to a lot of scam involves it and the volatility is high. Most of the people here including the old professional don’t dare to touch it despite Bitcoin already has good price history.

I heard these arguments in my country too and I always find them misleading. It's not like a huge number of scammers just came out of nowhere with the rise of crypto currencies. The scammers where here before and used fiat money to scam people. And there would nobody say we need to stop using fiat money because of the scammers. Everybody can get scammed out of his money, it doesn't matter what currency he is using. Instead of trying to stop people using certain currencies the government should work on educating their people better. Only when the citizens are aware of the risk of scammers they can be more cautious. Bitcoin has survived for so long now that critics should stop doubting the success and rather be more open to it.

It is a natural phenomenon that people actually criticize and hate what is good when they don't use or know its value, and for government providing proper education for the people on a currency which most of them are also criticizing sound kinda absurd don't you think, although they are couple of nation which like and support the use of BTC but most government actually contribute to the massive hatred on BTC since its goes against their principles.

Mauser

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Quote from: AbuBhakar on April 07, 2023, 09:53:11 AM

In the country that I live, Bitcoin has a stigma of being a scam because our own government warn the public to not engage on Bitcoin investment due to a lot of scam involves it and the volatility is high. Most of the people here including the old professional don’t dare to touch it despite Bitcoin already has good price history.

I heard these arguments in my country too and I always find them misleading. It's not like a huge number of scammers just came out of nowhere with the rise of crypto currencies. The scammers where here before and used fiat money to scam people. And there would nobody say we need to stop using fiat money because of the scammers. Everybody can get scammed out of his money, it doesn't matter what currency he is using. Instead of trying to stop people using certain currencies the government should work on educating their people better. Only when the citizens are aware of the risk of scammers they can be more cautious. Bitcoin has survived for so long now that critics should stop doubting the success and rather be more open to it.

Furious 7

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Quote from: YUriy1991 on July 01, 2023, 10:16:21 PM

Quote from: Furious 7 on May 03, 2023, 04:49:53 AM

So what do you expect after starting the conversation.
The initial concept of bitcoin ran counter to the concept that governments run as to whether they will accept it as one of the things they can run.
We must be aware that the government is trying to continue to be in control of the order they control, so when talking about bitcoin, this is clearly contrary to what they believe in.
Even though there are indeed a number of countries that end up here, like El Salvador, for example, that's only a small part of the big countries that control it.
There is no middle point where the debate is between the pros and cons because both have the same desire to beat each other.

I think , There's potential for reaching a midpoint in this conversation. Yes. Education is the key. Brother, We have to make people understand what blockchain and crypto are. When they know what's going on, they can make smarter and responsible financial decisions without fear and worry. Regarding the way of the government, Most importantly they don't change all the innovations and stop the growth of this blockchain technology because they also know the huge potential that is in BTC.

I don't think education will really help much. When talking about the pros and cons, regardless of whatever the form is, even though there are many thinkers there, the pros and cons will still be there.
We know that many people often argue about bitcoin and it can be said that not only ordinary people but even billionaires often argue because they have many different views.
Having more knowledge in bitcoin doesn't mean we can all like bitcoin because regardless of anything the points are still the same bitcoin and the bank have 2 different concepts so it won't work when 2 different concepts have a midpoint if no one wants to give in between one of them.
Bitcoin and banks can go hand in hand but still the position of the bank is above bitcoin and that's for sure because bitcoin too when talking about payments it's only an option but on the other hand the problem in this case is when the government doesn't really want the existence of bitcoins and tries to suppress it so it looks as small as possible which created a lot of debate.

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Disinformation through the propaganda of Banks sounds interesting but a smart fella who was never involved with Bitcoin from the beginning will know what Bitcoin is up against when they read about it, Bitcoin is the first challenger of the centralized power, it's the first true decentralized currency that stands to survive in a centralized world, you don't need to be told that Bitcoin is in for a long fight against everything that the centralized business, companies, money has to offer, what more would you expect?

News and Banks feeding the audience disinformation about Bitcoin is expected and should not be taken seriously unless you failed to read about Bitcoin at all.

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Quote from: Litzki1990 on May 20, 2023, 01:10:16 AM

I have seen various news media always promoting negative news related to Bitcoin. They only want to convince people that nothing good will ever happen with Bitcoin but they never highlight the good aspects of Bitcoin in their reports. Various reports are published in various media about the fact that a person has lost all his wealth by investing in Bitcoin or will not survive in front of Bitcoin, so that common people who are interested in investing they get confused by such news and refrain from investing. Since good things are happening with bitcoin why do they only highlight bad things?

Too much bitcoin procrastination has scared away many investors in the space; the uneducated continue to distrust and refuse to invest, while the wise have access to bitcoin and are making big profits from the initiative. Bitcoin has both advantages and disadvantages; that is how it works, some days generate profits while some days lossesare recorded. We have bitcoin supporters and detractors, individuals who refuse to accept anything positive about the idea of bitcoin. They are constantly spreading erroneous details with the aim to entice investors away from the enterprise.

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Humans are inherently more fearful than other animals. And people are very sensitive to money. So when different kinds of campaigns are made about this money, people think about the maximum security of their money and consider those campaigns to be true. Various banks and some other online banking services of the country or some government media who regularly present bad opinions about Bitcoin to the public and always conduct awareness campaigns about Bitcoin, as a result of which people refrain from investing in Bitcoin for fear of losing money. But they never invest and see how true the campaigns made by banks or various media about Bitcoin are. If people would have checked these things instead of just relying on propaganda then maybe a lot more people would have invested in Bitcoin.

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Quote from: Furious 7 on May 03, 2023, 04:49:53 AM

So what do you expect after starting the conversation.
The initial concept of bitcoin ran counter to the concept that governments run as to whether they will accept it as one of the things they can run.
We must be aware that the government is trying to continue to be in control of the order they control, so when talking about bitcoin, this is clearly contrary to what they believe in.
Even though there are indeed a number of countries that end up here, like El Salvador, for example, that's only a small part of the big countries that control it.
There is no middle point where the debate is between the pros and cons because both have the same desire to beat each other.

I think , There's potential for reaching a midpoint in this conversation. Yes. Education is the key. Brother, We have to make people understand what blockchain and crypto are. When they know what's going on, they can make smarter and responsible financial decisions without fear and worry. Regarding the way of the government, Most importantly they don't change all the innovations and stop the growth of this blockchain technology because they also know the huge potential that is in BTC.

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Quote from: AbuBhakar on April 07, 2023, 09:53:11 AM

We are all being feed of wrong information of economic norms by the billionaires that benefiting the current system. Bitcoin is the best asset to invest in terms of price growth on long term period yet people are still scared to touch due the wrong information given by the main stream media.

What else do you expect from a mainstream media that's been gagged by the authoritarian governments that are against the decentralization of bitcoin. They need to play to the tune of the government just so they could continue operating in a supportive environment without restrictions and hassles. Hence the wrong informations about bitcoin.

These media houses are suffering same fate from government as bitcoin but they don't really has the wherewithal and the liberty that is expected of media to enjoy in their profession. And most of these media stations are co-shared or owned by these politicians in government and we shouldn't expect anything less. But one thing for sure bitcoin will keep thriving regardless.

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Quote from: Litzki1990 on May 20, 2023, 01:10:16 AM

I have seen various news media always promoting negative news related to Bitcoin. They only want to convince people that nothing good will ever happen with Bitcoin but they never highlight the good aspects of Bitcoin in their reports. Various reports are published in various media about the fact that a person has lost all his wealth by investing in Bitcoin or will not survive in front of Bitcoin, so that common people who are interested in investing they get confused by such news and refrain from investing. Since good things are happening with bitcoin why do they only highlight bad things?

It is not surprising to see the media saying only negative things about bitcoin. The government is behind the media, and they don't like bitcoin at all. So what do you expect from the government? Will they urge people to leave fiat money and invest in bitcoin? But unfortunately for them, today's media is not the only way to spread the news, and we have social networks. So their defamation of bitcoin and hiding its benefits will soon lose its effect as people will hear different things about bitcoin through many viral social media channels.

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the governments of each country certainly have different views about bitcoin, some see bitcoin as fraud and so on,

but there are also governments that view bitcoin as a future asset and adopting bitcoin will be potentially profitable in the future, for example the state of elsalvador.

but in this case we have to be wise because indeed investing in btc is something risky, only certain people dare to invest in btc.

So we have to be wise in dealing with all of this.

Litzki1990

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I have seen various news media always promoting negative news related to Bitcoin. They only want to convince people that nothing good will ever happen with Bitcoin but they never highlight the good aspects of Bitcoin in their reports. Various reports are published in various media about the fact that a person has lost all his wealth by investing in Bitcoin or will not survive in front of Bitcoin, so that common people who are interested in investing they get confused by such news and refrain from investing. Since good things are happening with bitcoin why do they only highlight bad things?

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Quote from: JayJuanGee on May 08, 2023, 08:50:04 PM

Quote from: LDL on May 08, 2023, 08:35:09 PM

Quote from: GigaBit on May 07, 2023, 05:43:42 PM

Moreover, the governments of different countries are still not able to accept it. BTC has not yet been able to reach that goal due to their various negative constraints. But the positive thing is that Bitcoin is still moving forward. While the world is fallen in the trap of inflation and losing value to fiat currencies, Bitcoin is holding its place. Even when people are losing faith in the banking system, Bitcoin is acting as a bank. Bitcoin is playing a silent role when many financial institutions are running misinformation about Bitcoin as a competitor. But the positive thing is that Bitcoin is moving at an equal pace. Gradually people of the world are gaining knowledge about Bitcoin and gradually they are able to trust Bitcoin. And as a reflection of this, Bitcoin is getting legal validity in different countries.

Bitcoin will never be legalized in my country (Bangladesh) because inflation is the most talked about issue in my country right now.

Never say never.

Big changes sometimes can happen and do happen.. and sometimes those changes are violent and sometimes they are peaceful... some times they happen quickly, and other times they might take 20-50 years or even longer.

So, yeah, if a change happens in 50 years, then for all practical purposes, you can say that you were right, no change happened in 50 years.. but so what,.. there are already dynamics in motion that make it difficult to predict various changes that are likely to occur including a lot of gravitation of fiat value into the dollar from each of the collapsing currencies, and then after all (or most) of the other fiat currencies collapse, then the dollar will collapse too.. it's just a matter of when, not if... especially if you understand the precariousness of the current inflation, debt and money printing system that is lacking in soundness (and backing).

Quote from: LDL on May 08, 2023, 08:35:09 PM

In the last 13 years my country's currency has had 160% inflation. The rate of inflation after 2025 will be 200% due to the way the prices of various daily necessities are increasing and increasing in my country. That is, in 2023, it will take 200 tk to buy the product that costs 100 tk in 2025. So in the current and future situation in my country, common people will be forced to invest in bitcoins instead of depositing money in banks. Because in my country investing in Bitcoin will be much more profitable than keeping money in the central bank and the investor will have full control over Bitcoin. But for now the Bangladesh government is not taking any far-reaching plan to legalize Bitcoin but the government will be forced to legalize Bitcoin in the future.

Ok... you are saying the same thing as me. They are not going to willingly want to legalize bitcoin, but it seems quite likely that either bitcoin is going to end up being legalized or some other sound money that is similar to bitcoin. .and there is no replacement candidate that is even close to as good as bitcoin, currently.

yes, bitcoin is a good asset because bitcoin can be called anti-inflation because of its limited supply, but of course it is inseparable from risk because of course all businesses have risks, so when investing in btc you must prioritize knowledge and knowledge.

but in my opinion one day the government will definitely embrace btc because btc has more and more enthusiasts because btc can be said to have a bright future.
but we must be patient in dealing with situations because everything also requires a process.

Topic: Bitcoin overshadowed by economic lie (Read 1616 times)