Can this be the reason some people are afraid to invest in Bitcon? - page 6.

justdimin

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Quote from: Chucksmark on August 31, 2022, 06:32:39 AM

People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

We are only taught to be afraid with god but not in any other things. You won't grow as a person if you will have that kind of mindset. It is okay to make mistakes as a starter but it's always possible to improve.

Quote from: Chucksmark on August 31, 2022, 06:32:39 AM

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money.

We have another type of money before cryptos came in (paypal for instance) and people didn't reject it. I think that is because its government oriented but cryptos are completely opposed to that. People think it's an illegal type of currency, add in the fact that it's also being used on buying drugs, gambling and money laundering.

Quote from: Chucksmark on August 31, 2022, 06:32:39 AM

However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc.

Those who visit crypto exchanges are the people that are involved in cryptocurrencies already.

Poker Player

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Quote from: Chucksmark on August 31, 2022, 06:32:39 AM

I am also a victim.

The sooner you get rid of that garbage victim mentality the better. That mentality is promoted a lot by socialist-leaning politicians offering you the supposed solution that they are going to save you. Garbage. You have to take charge of your own destiny.

As for Bitcoin, apply this. If you haven't started investing, start now, but first get a lot of information about what it is and decide why you want to invest. If you do not have much experience it is better to invest for the long term, at least 4 or 5 years and do DCA, which means that you buy as much as you can weekly or monthly. How much can you afford? $50 a month? Then go for it.

Kakmakr

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I think most people wants to conform to the norm and they are wary to challenge those norms and standards. We live in a world where most people live like sheep. There are only a few people that will have the courage to test something "new" and also to push the boundaries of what the society deems to be the standard.

The educational (FIAT) system, still teach the old school financial tools and structures, so we should focus on adding "new" tools and ideas to that system. Wink

davis196

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Quote from: Chucksmark on August 31, 2022, 06:32:39 AM

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money. However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc. People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

I am also a victim. Wish I had joined this forum earlier.

There's no point of of trying to find a psychological explanation of why the people are afraid of Bitcoin.
The vast majority of the people simply hate taking risks and that's perfectly fine. Investing is inevitably related with taking risks.
There are two big reasons why the people are afraid of Bitcoin/crypto:
1.Price volatility and constant FUD creates the fear of Bitcoin price crashing down to 1K USD or below.
2.The countless amount of Bitcoin/crypto scams. No wonder why many people don't want to use BTC/altcoins. If I was a complete newbie in the world of crypto, I would be afraid to put my hard earned money in crypto as well.
Joining this forum isn't something that you should be afraid of. Grin

Findingnemo

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Cautious nature about the bitcoin technology resists the people from entering into the field but as an investor the volatility scares them more from my knowledge, bitcoin is not really stable as gold nor exist physically for the people to feel it sooner so everything will take time for people to get used to it.

Remember early ones get more benefits so you're one among the early investor so happy about being a part of it and starts moving forward.

GreatArkansas

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Quote from: Z-tight on August 31, 2022, 06:55:00 AM

There is no one reason why people are afraid to invest in bitcoin, they can be scared away with what they read in the news, their age, or what their friends tell them, they can also be afraid to invest in bitcoin because they lost their funds, or someone they know lost theirs, so many more reasons are possible.
(.....)

Yeah, some people tend to believe in other people or entities compared to their own self or instinct. Even without doing first their own research, they immediately believe without verifying.
Another thing is social media, there are a lot of influencers there that spread FUD sometimes or fall for some traps about scams or Ponzi, these are also one of the many reasons.

2stout

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No, this is not the reason, possibly it is for maybe 1% out there. IMHO the main reason for fear comes from being burned in the cryptosphere for a plethora of reasons.

ethereumhunter

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We all would have wanted to join this forum earlier but sadly, we can't go back to those days and can only live our days trying to have more bitcoins. But if you have decided to invest in bitcoin, you should know the risks and learn to reduce them from getting bigger. Don't be afraid like people out there because every investment has risks and depends on how much we can understand and reduce the risks. By continuing to learn from time to time, our understanding will increase, which can help us make a future profit.

Xampeuu

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Quote from: Rigon on August 31, 2022, 06:56:04 PM

Quote from: Chucksmark on August 31, 2022, 06:32:39 AM

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money. However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc. People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

I am also a victim. Wish I had joined this forum earlier.

Bitcoin investment is now not much feared by people. I've seen people invest in Bitcoin with energy now But if the movement of Bitcoin was at a steady state and the price wasn't dumping so much, people would be more dependent on it.However, people are now leaning more towards Bitcoin. There will come a time when people will spend most of their time on this poison coin and take it as the only earning activity.

for those who understand bitcoin, there may be no fear to buy, especially during a bearish season like today. but for those who are still learning even just knowing bitcoin is not legalized by the government, then they will feel scared, especially from the current price of $60k to $20k, so it is natural for them to have doubts, because this volatility does not occur in other markets. or even there are people who are ambitious, so they are afraid to miss the moment, but the market moves not as expected, and they experience panic sell

adzino

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That is not the reason. They aren't investing in bitcoin because they are afraid of "new kind of money" like you stated. They aren't because they don't know what bitcoin and crypto currencies are. They aren't aware how it works. They aren't interested in crypto currencies. Or they just think it is some sort of scam because of all the negative media and press that spreads around. In other words, lack of awareness. And I am sure most of them don't because they don't have money lying around to invest in something very volatile as crypto currencies.

Rigon

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Quote from: Chucksmark on August 31, 2022, 06:32:39 AM

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money. However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc. People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

I am also a victim. Wish I had joined this forum earlier.

Bitcoin investment is now not much feared by people. I've seen people invest in Bitcoin with energy now But if the movement of Bitcoin was at a steady state and the price wasn't dumping so much, people would be more dependent on it.However, people are now leaning more towards Bitcoin. There will come a time when people will spend most of their time on this poison coin and take it as the only earning activity.

Finestream

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Quote from: Chucksmark on August 31, 2022, 06:32:39 AM

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money. However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc. People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

I am also a victim. Wish I had joined this forum earlier.

Each of us has our own fears, some have managed to overcome them while others stay fearful all the time. Schools may have been teaching us to never be afraid and be brave, but I guess there are really some people who lack motivation and confidence to finally get out from their comfort zones. The reason why these people do not take risks investing particularly in bitcoin because they only get to hear and believe people who lose in bitcoin, but are blind to see the good things that people benefited from bitcoin.

Sanitough

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Quote from: Z-tight on August 31, 2022, 06:55:00 AM

There is no one reason why people are afraid to invest in bitcoin, they can be scared away with what they read in the news, their age, or what their friends tell them, they can also be afraid to invest in bitcoin because they lost their funds, or someone they know lost theirs, so many more reasons are possible.

But it goes without saying that all of those reasons are a fault of the individual and not bitcoin itself, which is a network that is almost perfect, so for people who aren't afraid and are part of the network, they have nothing to worry about so long as they have the knowledge, and know what to do to avoid loss.

E.G: If i buy bitcoin today, and i keep it in the wallet of any exchange, if that exchange is hacked tomorrow and i lose everything, i should learn from it and be afraid of centralized exchanges and not bitcoin.

The only reason why a single person becomes afraid of investing because he lacks the knowledge and skills, and he is afraid to take the risks. He is afraid of losses so most likely investing in bitcoin would be out in the picture. However, not all people have the same behaviors towards bitcoin. Some are eager to take the risks because it’s the only way that they can make huge profits in the end. Although there will be inevitable losses at first but it will be overcome in the later part.

isaac_clarke22

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Quote from: Chucksmark on August 31, 2022, 06:32:39 AM

~

Back in my high school, no one taught anything about handling of money until I took Business and Management Strand in my Senior Level. Knowing that some schools and some individuals are taking step forward to teach their students/people pertaining anything crypto and the blockchain, surely we are now stepping away from that kind of mindset of a "typical human mind".

Ironically a schoolmate of mine during those years, introduced me roughly to crypto without any definition. It is just that "yo look into Bitcoin, trust me it is not anything illegal or something you should be worried about once you get it".

salad daging

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Every teacher in education always teaches to be independent and how to do it, including investing since now so that in the future you can achieve success. Any investment can be done.

And indeed bitcoin is not a bad thing because in my opinion investing now in bitcoin is becoming a more valuable asset, don't we want to go forward and succeed in achieving it?
Excessive fear of not going to do something that becomes an experience is actually a concern for you who always fail because you don't try it.

YOSHIE

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Quote from: Chucksmark on August 31, 2022, 06:32:39 AM

People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

I just heard the term fear of someone who wants to invest, who, who teaches fear since childhood, if they want to invest, parents or teachers, if they teach them to do that, they are completely orthodox.

In my environment, on the contrary, many of those who are responsible for the upbringing of children are required to invest since childhood, it teaches them to be more independent and have a future, Bitcoin is a good method of choice if someone wants to teach children how to invest, in fact, all things certainly have risks, Bitcoin is not a bad risk they know early to invest.

Solosanz

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In life you need to try as much as possible, this will make you learn a new thing and it's good for your journey. If you're always afraid and worried before try a new thing, you wouldn't learn and don't regret if your friends are become success quicker than you. It's start from a mindset, feeling afraid would destroy your life.

I think they're afraid because the government ban, religion issue, volatility, no physical appearance and always think someone has a control behind the market. Of course each people will have different reason, but if they're really learn Bitcoin and at least understand how it's work, they wouldn't afraid anymore.

kryptqnick

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Schools and education can be very different, not every teaches one to be afraid. Moreover, sometimes it's important to be cautious, and I'd say feeling insecure when using centralized platforms is a healthy approach because many make a mistake of carelessly storing their coins on a centralized platform and then suffering when there's a hack, an exit scam, or an exchange freezes the funds and asks for things related to KYC.
I think most people aren't investors into anything, and of those who invest, the majority would prefer a low-risk investment. Bitcoin is highly volatile, and the risks shouldn't be underestimated. People who are afraid of investing should stay away, it's better for them and for the market. For them because they remain calmer people and make responsible decisions. For the market because we already have plenty of panic sellers, and having less could help make Bitcoin more stable.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Chucksmark on August 31, 2022, 06:32:39 AM

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money.

Not true for every person. An old aged person trying to save their money while investing the same to make some more will always be skeptical about their money and hence be cautious about newly launched assets that their government has turned a "grey eye" to. Try to think of it from their perspective and you will understand.

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However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc. People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

I dont blame education systems but how a person takes their education. If they keep an open outlook they will be able to learn a lot more. But this does not mean that they will go for bitcoin. Rather they may stick to traditional assets. It depends on a lot of other factors.

Quote

I am also a victim. Wish I had joined this forum earlier.

If you keep thinking of yourself to be a victim you will not be able to progress. But there is a time to everything and it is possible you might profit a lot from your bitcoin portfolio.

Rruchi man

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Quote from: Chucksmark on August 31, 2022, 06:32:39 AM

People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

Will you call it fear or rather people just trying to be more careful and cautious? I wouldn't blame anyone though, the times we are in calls for extra care and caution from everyone especially with the distinction between dubious and credible becoming fainter by the day. What I will always say is the source where one gets their information about something in this case bitcoin, matters a lot and can go a long way in making people believe in it's credibility faster. A good and credible and solid source of information always invokes interest and can quickly clear doubts.

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