Topic: Cryptocurrency Phobia - new social phenomenon - page 5. (Read 171825 times)

People have fear of what they do not know, every time something new comes along we we get the same response, at first people are afraid of the consequences of this new invention and then they accept it as if it has always been here, the same happened with cars and computers.

I think many of this opinion are just more so annoyed that they missed out. If they are going to warn people of the perceived pitfalls of bitcoin then they are probably not likely to be involved in any sort of terms.

Thank you Markleal. That's a great point about self-awareness, which is the key to control individual instincts, including various fears that may lead to phobias, in the worst case scenario. And even basic self-awareness requires certain level of self-reflection.

      I think there is no cryptocurrency phobia as what you have said because even there is a lot of online scam, people are still there trying to overtake the scam and hoping to have a good life in crypto. Maybe there are few people who have fear to enter in crypto world but not a phobia.

I disagree with you here. Cryto phobia does exist. I have observed many people sitting on the sidelines and viewing the crypto world who did not step into this vast volatile world since they were scared of the high risk involved just like the stock and forex markets. The crypto world is known to be far more riskier when compared to the stock markets due to the extreme swings which is another reason why people experience crypto phobia. The rise in bitcoin value is helping curtail this problem and more and more people who were scared before have begun trading in the crypto world.

Hi there Thadeous! First of all, you got a nice tread title in there, can’t imagine there could be a phobia about cryptocurrency. Anyway, I think there is no specific name for that kind of phobia but as you said due to the rapid changes bought by the cryptocurrency there are people that are hardly to catchup. There are people that are doing illegal acts and taking advantage of this technology, but on the other hand this technology teaches us to be more self-aware, be fast, be vigilant and face the possible ups and down that makes us more prepare in this technological era. 

Instincts - is the very right word to describe the topic context.
It reminds me two tribes from tropic isles. One of them has just discovered trade via pearly seashells and find it very handy. While the second tribe still exchanges bananas, coconuts and shrimps, contemptuously watching what the first one does, shouting aggressively toward their coast and smashing all pearly seashells they are able to find. But in the night time some from the second tribe creep along the sea shore diligently collecting those prohibited seashells.

Why would it be a phenomenon? came on, there isn't any "crypto phobia" the only ones who are afraid of it are the only ones who are missing this opportunity, nothing more than that.

We can't deny the fact that only big nerved really gaining a lot from this industry so better to keep our positive insight and let those negative thinkers being dated by their wrong impressions with Cryptos.

they afraid because bitcoin price is not stable and afraid lose their money because bitcoin price is expensive.
they have never tried, they are afraid to try it.

That's right mate. Those people have nothing to do in their life, only they just want to destroy others for the benefits of their own. To make this community become stronger and bigger, we should make declined those negative old folks towards bitcoin and the entire crypto world. We should think that bitcoin is really a big race, the one who survive is the one that may rewarded.

The underlying concept of how effective and profitable BTC is or would be, comes to you ONLY when you take the efforts to venture, study, gain knowledge and be properly educated on the subject. The media or anti-crypto-currency commentators that labels BTC as “scam”, “fraudulent”, “fake”, “it doesn't exist” have either miserable failed for their own fault, or enjoy by warning clueless people about it being a potential "scam" or "bubble".

That traditional concepts that the old crowd have filled their brains with are not enough to understand the concepts of Crypto-currency. To them everything has to fall into a well established category. There can't be a new thing. They fail to accept a concept that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 30 or 40 years and someone shows you that it can be done differently you take a defensive stance. When something is foreign or unfamiliar to them, they'd rather hate on it than choose to understand it. They are quick to judge without even trying to fully understand all about bitcoin. See, when you hold an asset, you either tend to be quiet about the associated FUD. When you hold nothing, you feel comfortable shouting FUD from the rooftops.

Let us take the initiative to continually be informed, be educated, and start to believe in its real concepts. Let us also inform and educate the new and needy and help them by being a part of the crypto-currency world. We need to let the internet-connected social media sites and the online news sites stay comfortably in their ignorance.

I never listen to what they say about bitcoin. scam, fake, crime. or whatever they say about the bad bitcoin.
in this world nothing is perfect, all have flaws. and I see that bitcoin is more an advantage than a drawback.

You have to see this phenomenon from a point of view like you are totally ignorant. Imagine yourself being used to handling with things that you can only feel and see. Also all your agreements and contracts with the banks are somewhat protected by your government or a bigger entity. People throughout the world are technically uneducated and afraid to live in the modern world. For example, many people avoid socializing through social media, paying with digital currency, owning/using crypto etc. Damn I even know of people that only bought a PC to communicate through Skype and nothing else. I hope that the youth will accept the new world since they are supposed to build it and develop it in the future.

Depends on how the listener will take it.
Knowledge is still better before stepping into the fire.
If you already knew there are many things like scams behind one crypto then you are already informed and its a good thing.

You will just need to be careful with every step you will take.
That is the good thing about being informed first before listening to others.
You will not throw any money when you are at that stage.

Bitcoin only flaw would be someone discovering some pattern in the way Public key and Private Key are related and that is protected by Trillions of years of computing so the value of Bitcoin is as strong as the Universe itself. Never the human kind had something to store and trade value that can not be counterfeited, produced in excess, altered in anyway and so on.

The more people who will eventually understand that and there you have the intrinsic value of Bitcoin and other Cryptos but it is normal for people to be scare, specially when they know nothing about math...

In my country, a lots of people has rumors about bitcoin. Some said that it is a scam like what I saw in the news. All of people are not aware in terms of technology and my province can prove that bitcoin is not already used by the people. I am also hearsay words that bitcoin is a bubble thing, I don't know why they are afraid to engage in newly system of economy. Even me, I do not yet talking about bitcoin to my relatives and friends, I know that in the end they will say that this is just a scam, specially now that I do not own yet bitcoin. I think I will tell them if I have bitcoin to cash out.
In my own opinion, people who scared to use bitcoin are also do not know to use technology. I believe that education is part of awareness of the people.

It is always hard for people to accept new things. Cryptocurrency is a new phenomenon and somehow hard to understand how things work in the background.
"Taking a new step, uttering a new word, is what people fear most."
It is true, cryptocurrency market is too risky but higher risks means higher rewards.
People changed their perspective and started to accept crytocurrency and the bitcoin community is growing everyday.

All these problems (or the root of the problem) can be handled with education. If people know bitcoin they won't afraid of it. If they know that it's not a ponzi and not an MLM they will start to belive. How can people get educated today? Not from books and not in the school. The only possible channel is the media, the internet-connected social media sites and the online news sites. They are (the media) also uneducated about bitcoin, so we can't expect that they can start to educate people the decent way. This is why the media only use bitcoin related content to make people afraid of the crypto world. As long as governments and the media is against bitcoin, it will be hard to reach the people to share the necessary knowledge.

I don´t think that there is a crypto phobia that is increasing everyday. Although there are many scams and obviously there are some people who is afraid to invest in crypto, actually there is more and more people investing in crypto everyday because they have seen and heard of the great advantages in the media.