A lot of people are thinking that they are doing a good deed by warning clueless people about potential "scam", others simply want to feel superior that they will predict "bubble" and won't lose their money because "they are not stupid". These psychological patterns can describe most of anti-cryptocurrency commenters, but there are also other causes like regret over not getting in early, distrust and hate towards everything that is not controlled by governments (especially popular among left-wingers), being involved in traditional finance and even religion.
The problem with those people that think are doing a good deed is that they are in fact doing something bad think of all the people that could have gotten into bitcoin earlier and decided against it because they listen to someone else they could be rich by now if they followed their instincts. 
Topic: Cryptocurrency Phobia - new social phenomenon - page 6. (Read 171825 times)
The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?
yeah I feel it too what you called crypto-phobia, from people around me. It spreads around really fast indeed, as bitcoin gains more popularity, the phobia grows faster too.
The thing is, there are lot of reasons that can make this phobia grows inside a person, such as :
1. Bitcoin is a new technology. People always skeptical to a new technology,even after they learn about it.
2. Bitcoin doesnt has a physical form. People will feel more secure about their investment if they have the physical form of their investment, of physical form of statement that they had the investment.
3. The price is going up and down too fast, volatile.
4. Bad past experience about making money online. I do have this kind of experience and it made me hesitate to buy bitcoin at lower price, and now im regretting it.
Last days noticed another waves of grumbling about BTC price jumping up and down...
While it's so easy to be patient and simply wait until BTC hits 50k
While it's so easy to be patient and simply wait until BTC hits 50k
This kind of speech has been there for years. I think some people who have not invested in bitcoin or people who don't know what bitcoin is at all, they like to spread this kind of speech most, because they have no chips in their hands, and talking about FUD may be good for them.
You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency
They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency
They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.
That's an interesting point.
So here we can highlight three categories of people with negative attitude, based on their Cryptocurrency experience:
- no experience, whose vision based mostly on rumors;
- bad experience, those who previously failed in Cryptocurrency investments;
- outdated experience, that comes from traditional economical and financial concepts.
People always afraid of they don't understand or don't know
This is as expected if you ask me. I know many friends lost too much money in stock market during 1990s and they're afraid of new loss. They don't wanna live the same problem. They try to stay away from the coins.
Once bitten, twice shy. But I think people should be interested in something new, because blockchain is the newest thing and you can even get extra wealth. I think people should be interested in bitcoin and altcoin and ICO. The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?
I think the latest rise in bitcoin value has actually made many to start considering investments in crypto. In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?
I personally know people who used to tell others to avoid cryptos and now have invested big time in various coins. And its all due to the rise of bitcoin value in the past couple of months.
So now, this phobia is kinda getting town as people actually forced to consider cryptos because of the huge possibility of profits.
This is a good example of cautiousness.
While other people just scared of these "strange digits sold for the price of gold".
While other people just scared of these "strange digits sold for the price of gold".
Haha, Let me share my story. I was talking with my friend about Bitcoin and he is studying journalism course. I asked him his opinion about Bitcoin and he said that he is excited about this technology and speculative value that it gains but still he wouldn't invest anything in it as his risk profile does not permit him to invest any penny in the wild market like crypto. He was convinced that it is not a scam, Ponzi or MLM scheme but due to the wild behaviour, he is not going to invest in it but following up with the news in this sphere.
Such a phobia is certainly noticeable in post Soviet space.
Hope it won't lead to an ungrounded cryptocurrency prohibition there.
Hope it won't lead to an ungrounded cryptocurrency prohibition there.
This is as expected if you ask me. I know many friends lost too much money in stock market during 1990s and they're afraid of new loss. They don't wanna live the same problem. They try to stay away from the coins.
Here is a resent example.
Cryptocurrency Lending is often called scam, without any grounding.
None tells which interest can be considered as legit Cryptocurrency Lending and which is too high and could be potential scam.
Cryptocurrency Lending is often called scam, without any grounding.
None tells which interest can be considered as legit Cryptocurrency Lending and which is too high and could be potential scam.
They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing.
Spot on.
Everything that's risen sharply before, has later come crashing down.
BTC will crash, like everything else.
There's nothing new under the sun, right ?
Wrong.
BTC is revolutionary.
Any argument based on past patterns is useless when applied to something totally new.
The factors that tend to drive against BTC are ignorance, rumours, abuse.
The factors that tend to drive BTC up are understanding & confidence in its security.
Every drop is followed by a further rise - which is entirely expected of BTC's deflationary design coupled with rising public interest.
In short :
Bitcoin does NOT have to collapse with a pop !
BTC could realistically rise and rise.
Some people simply cannot accept that possibility can really happen.
Kapyong
The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
It's not phobia in my opinion. It is more like scared to get in to an unknown world. Since Bitcoin and other cryptocurrency is very new to others and the price swings are volatile especially now that Bitcpin's price surged up (which we should handle with skepticism) is getting all in their mind that this is very different from what they have known in traditional monetary system and even in stocks. Just give them time and mke them understand.
I'm pretty sure majority of these stem from nothing but jealousy. I mean, I'm sure there are a handful of people out there who know what they're talking about, with a strong grasp on how investments and the economy works, and simply deem Bitcoin to be a bubble. That's fine, because at least their opinion is backed by expertise. On the same side of the fence, though, are people who have no idea how it works, or are too afraid to invest, or maybe even both. Because they're not planning on getting on the train, they have to ruin it for everyone else. After all, if their friends invest and hit it big, they're going to be left behind. They're basically sour graping. If they truly didn't care about Bitcoin then they're not going to talk about it, and if they truly have strong feelings against it, then they better be well versed in it. It's best not to mind these people.
You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency
They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency
They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.
That's an interesting point.
So here we can highlight three categories of people with negative attitude, based on their Cryptocurrency experience:
- no experience, whose vision based mostly on rumors;
- bad experience, those who previously failed in Cryptocurrency investments;
- outdated experience, that comes from traditional economical and financial concepts.
With "outdated" I intended to underline that traditional concepts are not enough to understand Cryptocurrency.
You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency
They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency
They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.
That's an interesting point.
So here we can highlight three categories of people with negative attitude, based on their Cryptocurrency experience:
- no experience, whose vision based mostly on rumors;
- bad experience, those who previously failed in Cryptocurrency investments;
- outdated experience, that comes from traditional economical and financial concepts.
With "outdated" I intended to underline that traditional concepts are not enough to understand Cryptocurrency.
You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency
They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency
They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.
That's an interesting point.
So here we can highlight three categories of people with negative attitude, based on their Cryptocurrency experience:
- no experience, whose vision based mostly on rumors;
- bad experience, those who previously failed in Cryptocurrency investments;
- outdated experience, that comes from traditional economical and financial concepts.
This growth in bitcoin is not natural. How can a technology be a store of value? Market is running irrationally right now. Coins with actual utility are being dumped.There is no better proof of a market in peak irrationality when coins like emc2 got a Mcap of $500million while Ven, power, CVC are at half of it. No TA is working. Just a FUD or rumor can play with price. If bitcoin doesn't get stable soon or have a correction, it can be scary imho.
Most people who don't know what bitcoin is are scared to hop on board. This is simply because, Us humans have fear of the unknown, however some of these people wanted to join bitcoin and considering the price of bitcoin now they think this is easy money, but if they are to face any obstacle along the way without knowledge whatsoever of what bitcoin truly is they tend to fall on their asses and will find someone to blame, which will lead them to think that bitcoin is a scam and whatnot.
The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?
Everyone has their own opinions and if that opinion is fair and with fair reason then I don't have any problem listening to it. But the problem is most of the people give their opinion and advices based on half learned knowledge, most if the people done even know what blockchain is are people talk about BTC instability and risks. In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?
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