I went to a concert the other day (Nelly and Ja Rule for those that might be interested lol) and on the way there I mentioned bitcoin and a buddy whom was in the back seat of the care stated "bitcoin is a scam". I quickly turned around and kindly told him as a licensed financial advisor for nearly 20 years, no offense but you've got no idea what you're talking about, it's not a scam. I calmly told him how many cryptocurrencies ARE indeed scams, but that bitcoin was not.
If you ever want to know if someone truly knows what bitcoin is or not, ask them what a blockchain is. This for me has been sort of the ultimate was of "busting" people about their knowledge of bitcoin.
Topic: Common Bitcoin ideas - page 6. (Read 700 times)
The way of presenting Bitcoin as an investment may be wrong, especially since the average joe, who working 8 hours per day, works hard to collect cash and rarely or never invests in his life finds that losing money is easy, so if he buys Bitcoin and the price begins to decline, he will most likely sell his investments.
If you are in a country with many ways to invest, start with a low-risk investment advice and include the explanation to understand how Bitcoin works, why it is a high-risk investment, and how these high risks can be converted into profits.
But if you are in a country where there is rarely investment, I think that inflation may be a sufficient reason to invest in countries and stay away from the local currency, and here Bitcoin may be a good investment if it is long-term.
If you are in a country with many ways to invest, start with a low-risk investment advice and include the explanation to understand how Bitcoin works, why it is a high-risk investment, and how these high risks can be converted into profits.
But if you are in a country where there is rarely investment, I think that inflation may be a sufficient reason to invest in countries and stay away from the local currency, and here Bitcoin may be a good investment if it is long-term.
There are alot of reasons people fear investing in Bitcoin especially in my locality. These reasons are numerous ranging from fear of losses , scams , security issues and lots more .I got to understand this by asking a couple of persons what they knew about Bitcoin and if they had any intention of investing sonner . about 98% of them had heard about Bitcoin but only about 10% really understood what Bitcoin was . Of what I could understand I discovered that over 50% of them understood Bitcoin as a get Rich quick scheme which was why most of them thought of it as a scam because they had been scammed through their false idea of Bitcoin as a get Rich quick scheme.
The others which had idea about Bitcoin I discovered were investors in the Bitcoin space.
This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.
The others which had idea about Bitcoin I discovered were investors in the Bitcoin space.
This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.
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