Cryptophobia, causes, effects and solution.

Rengga Jati

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Quote from: KingsDen on July 14, 2021, 04:35:23 AM

3. Inability to take risk. Someone who is not a risk take is liable to be have cryptophobia.
...
4. It triggers emotional trauma to potential bitcoin investors.

Yes, in fact, the number three is also very often happening. Worse, those who are not familiar with crypto and not able to take the risk, invest in crypto only by understanding that many people become rich from crypto without seeing how they work and struggle, and without considering the risks that he may get later.
And once they're not ready with the risks, they fall down and then they become traumatic to crypto, always seeing that crypto is something bad that make them poor or losing his money.
And this thing triggers them to the number 4, emotional trauma is really deep.

Oceat

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Quote from: ?? on ??

maybe the phobia is only for new people who have never been in crypto before, they have to be in crypto to see the real crypto firsthand. not looking at the facts and only looking through the media it's not very good to conclude how about crypto

It is true that people who haven't had knowledge or never met crypto will always suffer from fud easily. It was a fear of "what if" because they don't know what to do if they meet the other side of the market which is the bear market or for example, the manipulation. This will trigger them to just sell everything even if the price is not appropriate or is cheaper than what the price when they buy it.

Everything can trigger to someone if they don't have a proper knowledge about of how does the crypto market works. Those who have had knowledge will be using this advantage on order to gain profit. So it's better to read more before investing in crypto or any other assets to fully understand what are the pros and cons to avoid panic.

gundala

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well it's because someone doesn't know crypto well but has gone too far out of fear of its negative impact, having heard or seen a lot of negative impacts that many people have experienced. It's not great, most of us think it's ridiculous, but mental health isn't funny and it's real. although we can't force someone to want to use crypto, at least we can provide knowledge and other more precise and relevant sources related to crypto, hopefully, it can change someone's view that crypto is not as scary as he thinks.
although I read comments that this is not an official term, but I'm sure there must be someone who has experienced it, either because they have experienced a big loss, or because they are afraid of losing. if we find it around us then we should try to give some help, hopefully, it can relieve his excessive fear. however, crypto is a pity if you just pass it up.

milewilda

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Quote from: adzino on July 14, 2021, 10:36:23 AM

I don't think there is anything known as "cryptophobia". Phobia means irrational fear. I have never heard or seen anyone who gets triggered when hearing or reading about crypto currencies. I doubt someone who is not willing to take "risk" has cryptophobia. He won't take the risk probably because he won't be able to afford the loss. So I don't see anything irrational over here. But who knows, cryptophobia might exist, but very rare.

Those terms are basically been created by us which connecting out that fear that we do felt neither a total newbie kind of emotion or someone who had been wrecked out by the market or being liquidated.
You can only determine two possible people that will really be having this fear, Yes, it cant really be avoided since this place is really risky if you do really look up closely but its up to someones
motive and target or goals if they are really serious on trying out the risk for the sake of big profits because we do always know that the bigger the risk the bigger the reward but not all
would really be having that kind of risk taking level which would really result into fear and people do make out some calling out of that thing.So its a bit understandable and can be determined.

Antithesis

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Quote from: KingsDen on July 14, 2021, 04:35:23 AM

Phobia may be referred to as an extreme fear or an anxiety disorder. There is a lengthy list of different kinds of phobias as; acrophobia, fear of heights, homophobia, fear of blood etc.
In this topic, I will discuss the fear of Cryptocurrencies; cryptophobia. The cryptophobia in this context is connotative, which might not be its literal meaning.

The fear of cryptocurrency might be; not being involved at all, discouraging others from being involved, not having peace of mind when involved and always checking or afraid of checking portfolio balance.

Causes:
1. Someone who heard a victim's negative statements about cryptocurrency, maybe how he lost all his money (even if to scammers) might begin to develop fear for crypto.
2. Someone who does not understand how crypto works. Humans are naturally afraid of what they don't understand.
3. Inability to take risk. Someone who is not a risk take is liable to be have cryptophobia.

The Effects of Cryptophobia on BTC
1. It slows the rate of BTC adoption world wide, as in most cases the phobia is not only individual but National. Which I think is one of the reasons for inconsistent bans and adoption in different countries.
2. It exposes the victims to scam. Over willingness to have someone to guide them makes them preys before scammers.
3. It encourages the spread of false information about BTC.
4. It triggers emotional trauma to potential bitcoin investors.

Solutions:
1. Victims needs to be taught cryptocurrency from the scratch, expose them to crypto videos and audio. Show them testimony of people who became very rich from cryptocurrency. This is mindset re-orientation. Making them to invest small and have small profit will surely be a behavioral therapy.
Thank you all!

Why would anyone be afraid of an imaginary thing:
https://youtu.be/aBl-O_3g_58

DarkDays

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Quote from: zanezane on July 14, 2021, 04:37:54 AM

Is there even such a phobia listed about cryptocurrency and is that even the official term for it. I think Xenophobia is the best term to describe the irrational fear of crypto because Xenophobia means the irrational fear of the unknown which could be anything.

There is no term that describes the fear of cryptocurrency because the fear that's talked about is not intrinsic fear, is all behavioural, and a choice.

It is due to ignorance, followed by guilt for not entering the market, and when in the market falling victim to scams because fundamentals are not even there. All of this can be solved with some knowledge about the markets, and less day dreaming, because making money is not that simple you at least need to understand the fundamentals.

mk4

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Quote from: hitsnorth on July 16, 2021, 09:14:44 AM

If we start to aggressively taughting everyone about crypto then we'll look like sectarians. People can buy or not buy whatever they want and you should talk about crypto with them only if they asking and interested in it.

As if we don't actually already look like cultists to start with. When you get Bitcoiners spamming "have fun staying poor" to almost every single Bitcoin critic on Twitter, we sure do look like mindless zombie cultists.

But to be fair, most of the criticisms are dumb as hell.

Viscore

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Quote from: kidbounty on July 16, 2021, 10:09:58 AM

Quote from: KingsDen on July 14, 2021, 04:35:23 AM

Solutions:
1. Victims needs to be taught cryptocurrency from the scratch, expose them to crypto videos and audio. Show them testimony of people who became very rich from cryptocurrency. This is mindset re-orientation. Making them to invest small and have small profit will surely be a behavioral therapy.
Thank you all!

it's the best way to get people excited about trying to invest in crypto. but very difficult to do. need more effort fto restore their enthusiasm for crypto. because those who have a phobia will find it difficult to accept it. they will always have thoughts about risk and are ultimately afraid to re-invest.

I think the best solution for those cryptophobia is make them expose with all those first hand information and videos about crypto and how crypto works in life for those who take risk on it.

People who have cryptophobia do not seem to understand the whole thing about crypto and so they become close minded believing all the negativities about crypto. However, this mindset will be change if crypto education will always be available so as to make crypto adoption possible in the most early time possible.

KingsDen

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Quote from: Dread Pirate Roberts on July 16, 2021, 03:54:19 AM

I think the word cryptophobia is too specific while there is nothing that crypto can do to him.

Actually people afraid of heights, there's nothing height will do them, aswell as people afraid of crowd, I think crowd will not kill them also. However, there is a scary factor behind their fear.

kidbounty

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HELENA

Quote from: KingsDen on July 14, 2021, 04:35:23 AM

Solutions:
1. Victims needs to be taught cryptocurrency from the scratch, expose them to crypto videos and audio. Show them testimony of people who became very rich from cryptocurrency. This is mindset re-orientation. Making them to invest small and have small profit will surely be a behavioral therapy.
Thank you all!

it's the best way to get people excited about trying to invest in crypto. but very difficult to do. need more effort to restore their enthusiasm for crypto. because those who have a phobia will find it difficult to accept it. they will always have thoughts about risk and are ultimately afraid to re-invest.

Lorence.xD

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The solution to this irrational fear is that we just have to make people informed about cryptocurrencies and it's uses and let them experience it first hand, I mean that's the cure for almost any fear, learn about it and we will not be scared of it anymore.

hitsnorth

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If we start to aggressively taughting everyone about crypto then we'll look like sectarians. People can buy or not buy whatever they want and you should talk about crypto with them only if they asking and interested in it.

Dread Pirate Roberts

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Everyone who enters the crypto market and starts putting their money in this field also feel things like that. phobia in most cases are will never try it from the first place, its just fear of losing money. I think the word cryptophobia is too specific while there is nothing crypto can do to him.

maxreish

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We all experienced loss, others might feel that they dont wanna experienced another huge loss but those who take a risk and understand well the essence of crypto volatility, the significant of trying again and never give up. I, myself almost gave up but I still look for the brighter side and continue.

There will always a solution, a counterpart of any loss, a compensation and answer. If we just learn previous mistakes we can improve our way of crypto investing.

pinggoki

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By definition, phobias are unexplained and irrational aversion or fear over something that is mundane and otherwise harmless. Cryptophobia, if proven to be a real form of phobia that people experience is not to be treated with conventional counseling and explainers. Someone diagnosed with this affliction will literally have to consult a psychiatrist to get professional help in getting over with his/her irrational fear. Otherwise all attempts at explaining will just prove futile.

Quote from: DapanasFruit on July 15, 2021, 03:15:56 PM

This is my first time to officially hear such a term: cryptophobia and to some degree i have to agree to the description above. Now, there are some famous personalities who have the habit of criticizing Bitcoin whenever they can, maybe they can be classified under this term. as for me, I have that fear of opening my little portfolio whenever there is an ongoing dip like right now but would gladly to be checking always whenever there is a bull run...so can I say that to some extent I also have this "sickness" called cryptophobia?

AFAIK this is something that is new and is obviously a made-up term by us cryptocurrency enthusiasts to label a term that most critics of bitcoin and other cryptocurrencies are possibly exhibiting. So this may not really be a term or of course an illness that is recognized by any medical body. Still, it's better than to have nothing to relate people who inexplicably hate on bitcoin.

DapanasFruit

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This is my first time to officially hear such a term: cryptophobia and to some degree i have to agree to the description above. Now, there are some famous personalities who have the habit of criticizing Bitcoin whenever they can, maybe they can be classified under this term. as for me, I have that fear of opening my little portfolio whenever there is an ongoing dip like right now but would gladly to be checking always whenever there is a bull run...so can I say that to some extent I also have this "sickness" called cryptophobia?

sapnu

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I don't think such kind of phobia exist already or included on the DSM V where validated kind of phobias and other mental health illnesses lies. Nevertheless, such kind of fear surely is evident for many nowadays specially if they had been involved in crypto for a long time and still ended up failing. FUDs can surely affect the price movement and the count of people who patonizes crypto more likely with those who had past traumas and past detrimental experiences before. They are more vulnerable and prone into giving up as soon as they fear spread all ove the market.

lovesmayfamilis

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Any phobia arises after some kind of psychological experience, stress, and so on.
Anyone who is sick, as you say, "cryptophobia" must have some losses in his experience of monetary manipulation, otherwise fear simply cannot arise.
Teaching or persuading such people is probably not even worth it. Just look around, are there many people among us who have any phobias? But despite this, people do not destroy spiders, do not stop flying on airplanes, and so on. If a person is sick, then he needs to be treated, and smart people themselves understand and draw conclusions after mistakes related to finances.

Mistafreeze

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Remember that cryptocurrency is not meant for everybody which is the reason why not everybody that are into crypto stuffs would make it in life just like everyone's destiny is different from each other likewise the colour or race. Only smart cryptocurrency investors and traders that are smart individuals can be able to make money in the crypto world, not just anybody that their interest is based on profits without care to research more of it. Everyone is given a chance to aquire adequate knowledge about crypto before going into it fully whether by being an investor or a trader depending on risks that accompany one's choice.

Crypto phobia is a big problem most investors, traders and even non participants usually have which can be as a result of so many reasons. For a person who had blown a lot of accounts or lose huge funds crypto trading can develop a great fear in crypto trading as a result of pass memories that one might have had. Also holding in crypto which had resulted to huge lose of fund maybe as a result of lack of comprehensive knowledge about market movement could cause I'm cryptophobia.

adzino

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I don't think there is anything known as "cryptophobia". Phobia means irrational fear. I have never heard or seen anyone who gets triggered when hearing or reading about crypto currencies. I doubt someone who is not willing to take "risk" has cryptophobia. He won't take the risk probably because he won't be able to afford the loss. So I don't see anything irrational over here. But who knows, cryptophobia might exist, but very rare.

Topic: Cryptophobia, causes, effects and solution. (Read 405 times)