Does the world still see Bitcoin as a scam, or is it just a lack of interest? - page 2.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

Quote from: Lorence.xD on May 08, 2023, 02:50:28 AM

Quote from: Mpamaegbu on May 08, 2023, 02:35:33 AM

~snipped~

It's because the complicated system of the Bitcoin which could result to profit or loss.

Metaphysics is also complicated but that hasn't stopped anyone from delving into it. Bitcoin isn't the only complicated system but the misconception people have about it is that it's a shortcut to riches. That's not true. These ones want to rush in and out and then announce their new status as nouveau richés.

Quote

So I took the risk and studied it for years before engaging with my funds.

So, why aren't others who think it's a complicated system not taking their time to study it like you did before plunging into it then? The simple reason is because they think it's a shortcut to riches.

Lorence.xD

sr. member

Activity: 1624

Merit: 315

Leading Crypto Sports Betting & Casino Platform

Quote from: Mpamaegbu on May 08, 2023, 02:35:33 AM

Even a decade from now when Bitcoin will have gained more traction and visibility there are people who will still feel it's a scam. There hasn't been a time the entire world agreed on a particular thing; doing that will of course be boring.

It's because the complicated system of the Bitcoin which could result to profit or loss. It's risky since it's volatile so if you hear people could get rich in crypto but they've also heard that some people also loss a lot. From that you would also double think that crypto is a scam where people who get rich are paid. But it's not like that, I've agreed that it's a human nature to disagree in a particular thing which would result to different outcomes to their choices. I acknowledged crypto as I heard how I could earn from this digital currency, they guaranteed that I couldn't always profit in this industry.

So I took the risk and studied it for years before engaging with my funds. What I'm trying to say is that people's influence might be the common thing to follow in this world, but if you once tried exploring things by yourself then you might change your life.

DefiPoolShare

copper member

Activity: 10

Merit: 0

The perception of Bitcoin varies among individuals and groups, and it's not accurate to say that the entire world sees it as a scam. However, there are still some people who view it with suspicion due to its association with illicit activities and its decentralized nature, which makes it harder to regulate and control.

That said, there has been a significant shift in the perception of Bitcoin in recent years, with more and more people recognizing its potential as a legitimate asset class and store of value. Large financial institutions and corporations have invested in Bitcoin, and it has gained widespread acceptance as a means of payment in certain industries and regions.

Overall, it's fair to say that the perception of Bitcoin is evolving, and while there may still be some skepticism and lack of interest among some segments of the population, it's increasingly being seen as a legitimate and valuable asset by a growing number of individuals and organizations.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

Even a decade from now when Bitcoin will have gained more traction and visibility there are people who will still feel it's a scam. There hasn't been a time the entire world agreed on a particular thing; doing that will of course be boring. Difference in opinion helps raise questions and critical awareness on subject matter. So, I don't think there will ever be a time everyone will look at Bitcoin from the same lens and pass a verdict that it isn't a scam. Basically, I think ignorance of what Bitcoin is and can do is its biggest bane. Though I must add that the scam tag has drastically reduced now than it was pre-2017.

Those who still feel dissatisfaction against Bitcoin for their allegation that it enables scam or in itself is a scam should remember that there was scam centuries before Bitcoin was created and even if Bitcoin should go extinct now, scam will still be there.

posi

hero member

Activity: 2268

Merit: 579

Vave.com - Crypto Casino

Quote from: QueenVera on May 08, 2023, 01:08:09 AM

Quote from: Emmanuelex on May 05, 2023, 04:10:09 AM

This question has been raised several times, and I have noticed that some people conclude that the lack of adoption is due to people not understanding Bitcoin or seeing it as a scam.
But I don't think the world still views Bitcoin as a bad thing today, though I know a lot of you thought that, but it is not the case.

I feel the reason for the low rate of adoption is just because people think it's not for them. Bitcoin has been around for over a decade, and any thought that most people would have had about it being a scam must have faded by now.

There are so many factors contributing to the low rate of Bitcoin adoption, one of the factors are the low speed of confirmation by the miners, yesterday Bitcoin blockchain was congested and my transaction took longer than usual to comfirm and the fees was too expensive as well.
Bitcoin is also still been viewed as a scam by so many people and the stories of hacking of exchanges and wallets is making people believe that Bitcoin is just a scam coins. The price dropping is also making people scared as they think they'll lose their money if they invest into Bitcoin.
This reasons and some other reason is why many people still think that Bitcoin investment isn't for them, they haven't seen any reason to make use of the coin and people are still comfortable with the banks no matter what's happening to them, people's still trust banks and the government.

Whatever the reason, I just want to say that bitcoin can't please everyone, our world is colorful and I haven't seen anything that makes the whole world happy. So there is no need to worry as many people still hate bitcoin.

For me, bitcoin has been doing very well, its development is not slow as many people say. 14 years is a long time for a human lifespan, but when compared to other assets like gold and stocks, bitcoin is like a crawling baby. So we do not need to rush and be disappointed when bitoin is not yet widespread.

BitcoinPanther

hero member

Activity: 1918

Merit: 564

Quote from: gabbie2010 on May 08, 2023, 01:24:52 AM

Quote from: Emmanuelex on May 05, 2023, 04:10:09 AM

This question has been raised several times, and I have noticed that some people conclude that the lack of adoption is due to people not understanding Bitcoin or seeing it as a scam.
But I don't think the world still views Bitcoin as a bad thing today, though I know a lot of you thought that, but it is not the case.

In my country during the reign of the popular moribund Ponzi scheme MMM the scheme initially adopted Bitcoin as a means of payment, however when they scheme went bankrupt some people then became skeptical about authenticity and credibility of Bitcoin with a perfection of being a scam it's takes a lot of orientation and enlightenment to those people so as to disassociate Bitcoin from the fraudulent scheme,

The confusion is caused by the representative and members that present the marketing plan of MMM. Obviously, Bitcoin has nothing to do with the company, Bitcoin just like fiat currency is just a tool or currency to pay for the membership. But most of the representative explains that the possible profit generated from their subscription or membership comes from Bitcoin trading. That is where the confusion started and many MMM member thinks that the company MMM and Bitcoin is in cahoots with each other.

Quote from: gabbie2010 on May 08, 2023, 01:24:52 AM

however with time a lot of people began to adopt Bitcoin by investing, trading and staking as well as utilizing all sorts of opportunities associated with Bitcoin like P2P merchanting with Binance etc, while some set of freelancers in my country also adopted Bitcoin as their payment gateway.

In case of confusion, time is really needed to fix the misunderstanding. Little by little as people are getting enlightened that Bitcoin is not a company and does not have central authority, the accusation that Bitcoin is a scam fades each day.

GeorgeJohn

hero member

Activity: 1498

Merit: 711

Enjoy 500% bonus + 70 FS

Far back 2010 and 2014 it's when the global doesn't not really understand exactly the significant of bitcoin, and during that period bitcoin has not been known as its today, because I understand that bitcoin many people who was informed of bitcoin has a negative mindset that bitcoin is meant for money laundering and scam, but they never knew that bitcoin will be of good potential as it's now. So currently it's hard you see a reasonable adult condemn the functions and usage of bitcoin, bitcoin advertisement has make it to be firm and popular, so it's few categories of people who are still seeing bitcoin as a scam due to the status of their ignorant, government were the one who started the condemnation of bitcoin because they distrust bitcoin technology, so the world is you and I, what way you seems bitcoin is your personal understanding of bitcoin.

gabbie2010

sr. member

Activity: 2842

Merit: 326

Vave.com - Crypto Casino

Quote from: Emmanuelex on May 05, 2023, 04:10:09 AM

This question has been raised several times, and I have noticed that some people conclude that the lack of adoption is due to people not understanding Bitcoin or seeing it as a scam.
But I don't think the world still views Bitcoin as a bad thing today, though I know a lot of you thought that, but it is not the case.

In my country during the reign of the popular moribund Ponzi scheme MMM the scheme initially adopted Bitcoin as a means of payment, however when they scheme went bankrupt some people then became skeptical about authenticity and credibility of Bitcoin with a perfection of being a scam it's takes a lot of orientation and enlightenment to those people so as to disassociate Bitcoin from the fraudulent scheme, however with time a lot of people began to adopt Bitcoin by investing, trading and staking as well as utilizing all sorts of opportunities associated with Bitcoin like P2P merchanting with Binance etc, while some set of freelancers in my country also adopted Bitcoin as their payment gateway.

QueenVera

hero member

Activity: 1106

Merit: 570

Quote from: Emmanuelex on May 05, 2023, 04:10:09 AM

This question has been raised several times, and I have noticed that some people conclude that the lack of adoption is due to people not understanding Bitcoin or seeing it as a scam.
But I don't think the world still views Bitcoin as a bad thing today, though I know a lot of you thought that, but it is not the case.

I feel the reason for the low rate of adoption is just because people think it's not for them. Bitcoin has been around for over a decade, and any thought that most people would have had about it being a scam must have faded by now.

There are so many factors contributing to the low rate of Bitcoin adoption, one of the factors are the low speed of confirmation by the miners, yesterday Bitcoin blockchain was congested and my transaction took longer than usual to comfirm and the fees was too expensive as well.
Bitcoin is also still been viewed as a scam by so many people and the stories of hacking of exchanges and wallets is making people believe that Bitcoin is just a scam coins. The price dropping is also making people scared as they think they'll lose their money if they invest into Bitcoin.
This reasons and some other reason is why many people still think that Bitcoin investment isn't for them, they haven't seen any reason to make use of the coin and people are still comfortable with the banks no matter what's happening to them, people's still trust banks and the government.

Sexylizzy2813

sr. member

Activity: 756

Merit: 454

I would say it's regarded in both ways as stated by you, OP. While there are people who have heard of it but are sceptical about involving themselves, there are still those who have heard of it and still prefer to operate the traditional way.
For instance, Charlie Munger believes it's a scam project, an investment in nothing. Will we say he's not aware of the good Bitcoin is doing, especially now that traditional banks are failing?
It's just that everyone has a choice and is entitled to his or her opinion. So for me, I don't think that changes anything.

Supreemo

full member

Activity: 443

Merit: 110

if i base it in my own country i could probably say that it is both.

1. there were several times when my own fellow countrymen were scammed through crypto (though mostly it was their own fault for not prioritizing their safety over profit) it was still safe to say that their perception towards crypto and bitcoin in general is negative.

2. based on my countries recent happenings, you need to at least have to meet the requirements before you can buy bitcoin, and one thing they hate is that you at least have a decent amount of money before doing so since getting your papers processed asks for money before you can create and verify your custodial wallet which is also a must specially in our country, and most people find it hassle.

i am not particularly sure about your country but here in mine, that is mostly the case and almost every Filipino here would probably agree and they could even add to the list what's the current issues we are facing in terms of bitcoin which is closely related to our economy and authority.

landheer

member

Activity: 467

Merit: 61

I think the number of people interested in investing in BTC is growing, and I think people are now starting to know what bitcoin is and a lot of people are learning about bitcoin and crypto.

so i think the future of bitcoin is getting brighter and the world is slowly accepting btc.
so i think bitcoin is getting more and more successful.
but keep in mind the pros and cons will always be there every time.
and the btc price fluctuates so i think btc is progressing.

Captain Corporate

hero member

Activity: 2156

Merit: 575

As we all know even the richest person in the world got into crypto, which proves the point that it is not considered a scam, not anymore at least. Sure there are some people in the world who still consider it a scam, and sure there was a time when majority thought it was a scam. However, in this day and age, majority of the people who know what a bitcoin is, do not think that it is a scam, they mostly think that it is just another asset. Doesn't mean they would have to buy, do you know how many people never owned a single stock, billions every year just spend their entire year without buy a single stock at all. So that means we will grow, but we don't have to grow to everyone, we just need to grow into every person who likes to buy an asset, we can ignore the rest.

Darker45

legendary

Activity: 2576

Merit: 1860

There is more than one reason, of course. There's a number. One may be that they don't understand Bitcoin, or perhaps misunderstood it. Another would be that they haven't even heard of it. Another is that it is perceived as a scam or a form of an illegal or underground currency. Some others might also perceive Bitcoin as a risky investment option that could crumble any moment. Or perhaps some others don't really find any use of Bitcoin in their lives. So there's lack of education, understanding, interest. Many are passive about Bitcoin. But a day might come when they will somehow get compelled to confront Bitcoin face to face.

crunck

legendary

Activity: 1176

Merit: 1005

crunck

Why don't you think that the people who call bitcoin a scam are the people who hate bitcoin? They hate it because they missed it and want people to stop investing in it. I don't think they lack knowledge about it. Bitcoin has proven that it is made to last, but people still do not believe in it because they are jealous and envious of its unbelievable growth rate.

hatshepsut93

legendary

Activity: 3024

Merit: 2148

That's what I see too - sites and blogs about economics, business and investing are talking about crypto as a viable option, simply mentioning that it is risky. Organizations and individuals accept it as donations. Those who think it's a scam are just a loud minority.

Quote from: Emmanuelex on May 05, 2023, 04:10:09 AM

But at the same time, if you look at it, Bitcoin is a risky business; if you invest money, there are two possibilities: it will either yield profits or losses. Many people today are not fans of investment, not to mention buying assets that heavily fluctuate in price. They would choose to save money earned from hard work, and a few might invest in low-risk markets, even though inflation is still eating them up.

Investment is a privilege that the poor can't afford, so no one should be surprised that most people are not interested in Bitcoin - they just can't afford the risk.

A good strategy to promote more Bitcoin adoption would be telling people that they can and should invest small sums to be less exposed to the risk.

southerngentuk

sr. member

Activity: 1316

Merit: 254

Sugars.zone | DatingFi - Earn for Posting

Some individuals may view Bitcoin as a scam due to their lack of understanding of the risks associated with investing in high-risk assets. Education and awareness-raising about the potential benefits and risks of Bitcoin can help dispel these misconceptions and help individuals make informed decisions about whether to invest in it or not.

Bitcoin has influenced many other sectors, including finance, technology, and even environmental sustainability, which makes it a potentially valuable asset for those who believe in its long-term potential. However, it is important to acknowledge that Bitcoin and other cryptocurrencies are still in a relatively early stage of development and that their future is uncertain.

SatoPrincess

hero member

Activity: 966

Merit: 701

Leading Crypto Sports Betting & Casino Platform

Scammers have given bitcoin a bad name, and the media emphasize on the crypto scams, fall of crypto exchanges and the use of bitcoin in illicit activities and darknet. People do not have sufficient knowledge to discern for themselves if bitcoin is real or not, there is a lot of misinformation on the internet and some people depend on crypto influencers and crypto experts for information, which I think is a big part of the problem.

sokani

sr. member

Activity: 658

Merit: 441

Quote from: DiMarxist on May 05, 2023, 03:41:59 PM

But if you look at it, Bitcoin is a very risky business; if you invest money, there are two possibilities: it will either yield profits or losses. Many people today are not fans of investment, not to mention buying assets that heavily fluctuate in price. Because they don't know the value of Bitcoin, and some are afraid because some other investment in online is fake, faded and scam, so many people take Bitcoin as a scam. But I think the assumption about bitcoin scams has been discredited by most people because they are sufficiently educated about legitimate investing.

It's the same thing about every business investment you either make profit or you lose. I think why people see bitcoin as a scam is because of the sad stories of their investment or other person's crypto investment that went wrong and the misconception that's been spread by government to discredit Bitcoin. But with proper knowledge about bitcoin, the market condition - when to buy, hodl and sell, a smart investor will definitely make profit.

JoyMarsha

sr. member

Activity: 924

Merit: 365

Quote from: Emmanuelex on May 05, 2023, 04:10:09 AM

But at the same time, if you look at it, Bitcoin is a risky business; if you invest money, there are two possibilities: it will either yield profits or losses. Many people today are not fans of investment, not to mention buying assets that heavily fluctuate in price. They would choose to save money earned from hard work, and a few might invest in low-risk markets, even though inflation is still eating them up.

I will never forget this saying that goes like this ''You will only lose in bitcoin if you choose to sell below-invested money'' Ever since I learned about that word, it keeps ringing through my ears all time that I can't lose my bitcoin investment if am patient and ready to hodl bitcoin for long. If many crypto investors would adopt this kind of mindset that bitcoin will rise when hodl for long, there won't be many complaints of loss of investments in bitcoin.

Many human beings fail to understand that nobody gets rich by saving money alone. To be rich and successful in life, someone gats to take the risk through investment tools like bitcoin or real estate, etc

Topic: Does the world still see Bitcoin as a scam, or is it just a lack of interest? - page 2. (Read 557 times)