Does the world still see Bitcoin as a scam, or is it just a lack of interest? - page 4.

Renampun

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

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So it would be hard for them to consider holding Bitcoin to use it daily.
Nevertheless, the community is still growing bigger 💗, and people's interest in Bitcoin and cryptocurrency keeps growing.

as long as people are still living under the control of the government, then as long as they will continue to believe what the government says and think that bitcoin is a scam.
if ask to average person, do they know Bitcoin and if are they going to invest in bitcoin, surely the majority will say they don't know and don't want to buy bitcoin, it's all because their brains have been washed in by harsh warnings from the government and the lack of education they receive about bitcoin.
I really believe that the growth of people who accept Bitcoin will continue to be positive and the use of btc in everyday life will also increase, but we don't know for sure when will get there.

Broadanbig

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I would not say the world sees it as a scam and neither would I say that it is a lack of interest but rather, I would say many people who have heard about bitcoin and are not indicating interest are just sceptical about it maybe due to their experience in the past with Ponzi, scams etc which made them to not put much interest but observing as events unfold it self.

I believe we all know that advertising is a key tool in getting a commodity to the consumers. If bitcoin is properly advertised im the sense that people are taught or told about bitcoin, I believe that Idea of seeing it as a scam would be dropped and people tend to take part in such activities when they see someone close or related to them doing it. That arouses their interest to learning and knowing more about it.

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

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.

Why would anyone believe Bitcoin is not for them if not for the lack of understanding and the FUD they hear about Bitcoin? Let's take it from this angle, you're once one of the people that didn't have an interest in BTC before, aren't you? Why don't you have an interest in it?
It is still the reason today, some are still naive about the true concept of BTC and only believe in negative things someone they trusted said about it.

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.

For every great opportunity, there's always a price to pay and the price is the volatility of the market, and the risk involved can be avoided or fixed through holding till the next halving.

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Both Jr. Members and below and also Full member and above have contributed weell to your thread. As you the op said, this is a frequently asked question in the forum. As it is said, bitcoin and other cryptocurrencies in the blockchain are view differently. Almost all the four (4) cardinal points have known bitcoin in the world so lack of knowledge is not the major priority of the disdain of the asset (s). For my own reasoning the both terms in the topic is involved.

The Cryptovator

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There are some individuals who may hold the belief that Bitcoin is a scam, but this is not necessarily their fault. Rather, it is likely due to a lack of understanding about Bitcoin and its workings. After all, how could a cryptocurrency, particularly one that is referred to as the "mother coin", be a scam? It's important to consider the definition of a scam and those who are not currently assigning value to Bitcoin may come to regret this in the future, regardless of their wealth. Rather than attributing this to low adoption, it may be more accurate to say that there is simply a lack of awareness surrounding the potential of Bitcoin and how it operates.

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People who think bitcoin is a scam is victimized by misinformation or lack of proper knowledge about bitcoin. The more you interest you have in a thing is the more you understand it. I think people just don't have interest in bitcoin that's why they can easily label it as scam but the reality is the opposite. Scammers are just using bitcoin as a tool to represent the scam movement they are doing at the process, The reputation of bitcoin are being tarnished slowly. We have seen this couple of times already even on the HYIP days where scammers are inviting people to invest in bitcoin or other cryptocurrency but the reality is they are luring people into a HYIP scam.

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Quote from: MainIbem on May 05, 2023, 11:18:53 AM

It's not lack of interest but rather I think they don't believe in bitcoin reason being that if they knows the importance of bitcoin from the first day it was launched then I would say they might have taken part. Usually before they could venture into investment it should be they have a good knowledge on what it's all about, it's very hard to accept the risk factors that comes with bitcoin investment so to anyone who is investing needs to have all these at the back of their mind.

We all have different opinions when it comes to Bitcoin so anything people think about it is left to them. Bitcoin had been working well for pepper who know the value and all it entails. For the newbies that do not know the advantage of investing in Bitcoin, they may see it as a risky attempt that would not give them enough profits since they have not tried it out.
When you go to the rural area to tell people about Bitcoin, they may see it as a ponzi scheme that could crash anytime since they don't have the understanding about what they could gain holding Bitcoin and investing in it.

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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.

if you've seen this question a few times, you don't need to create it again. if you find it why not continue with your idea?

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

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.

some major cases are so well constructed to create a negative public view of Bitcoin. you can see every FUD that is in the media at any time. the truth is also not certain but the impact on market fluctuations could happen.
you can see it like an exchange hack or a popular project crash. it makes the condition of Bitcoin also affected. and it all builds people's views of Bitcoin.

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.

but these days, those holding the market are young people who are willing to take risks. not people who only think about the security of assets like they keep fiat in the bank. Young people prefer to invest their money. This awareness is currently popular among young businessmen.

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

So it would be hard for them to consider holding Bitcoin to use it daily.

Everything is constrained by regulation. if the government paved the way for higher adoption of every use of Bitcoin. it's going to be a big moment that we can see for real.

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When someone don't have enough knowledge about bitcoin, it tends out that they lack interest on it because how they can be interested on it if they don't know much about it at all?

While there's no doubt that there will be people that still sees bitcoin as a scam and count those people like Warren Buffett and they're closed minded that will never change their minds about it.

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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.

We have freedom of speech which anyone could choose what to say and when, the first year bitcoin was introduced, many begin to say manners of things concerning bitcoin because they had been once in a shoe of getting scammed, cheated on way or the other and they have lost their investments especially on digital technologies online and wouldn't want to believe or gear anything associated to online digital networks.

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

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.

Some still have that kind of ugly look on bitcoin but the mistake i see them doing is for them to have made that on other crypto projects believed to be fake and full of scam, to the greatest surprise, this same people may later decides to give a try but fall in hands of the scam project because of their inexperienced in bitcoin or cryptocurrency at large.

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The general perception of Bitcoin is still negative. I mean things are changing slowly and surely but we haven't yet reached a position where Bitcoin can bring in trust from the common mass. Honestly in many countries banks are actively running campaigns against Bitcoin. I often received Mailers from my bank regarding Bitcoin which is generally negative in nature.

Also the old age people are not much interested in knowing about technical innovation. The reason is very simple. This age group is not really comfortable in using computers. So Bitcoin is definitely very complicated for them. But things are changing, that's the only silver lining here.

MainIbem

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It's not lack of interest but rather I think they don't believe in bitcoin reason being that if they knows the importance of bitcoin from the first day it was launched then I would say they might have taken part. Usually before they could venture into investment it should be they have a good knowledge on what it's all about, it's very hard to accept the risk factors that comes with bitcoin investment so to anyone who is investing needs to have all these at the back of their mind.

Road21Bitcoin

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

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

To offer some perspective, the 'world' does not see Bitcoin as a scam now nor were they uninterested but because many people do not know of its existence. If you are someone who uses or was raised with the Internet it seems impossible that there are still people who are unaware of Bitcoin or cryptocurrency so maybe you feel safe to assume that people who do not use or buy crypto think it's a scam or is not interested. Many people in my country are only coming around now about the concept of digital wallets, so even if Bitcoin is around for over a decade, it will take longer than that to fully make people aware of its existence and much longer to educate them about its advantages and how to not fall for scams and frauds.

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If I am not wrong not even 5% of world population is using Bitcoin is simply because they don't have any idea what Bitcoin is, maybe they heard the name due to the internet adoption boom in the last few years but there is no knowledge about blockchain technology in the basic syllabus of school and some old rich people throw bad comments on Bitcoin so people are afraid of buying Bitcoin.

But the adoption rate is actually lot faster than other monetary system and FYI it's just a decade old new system is fighting against all the governments, traditional assets, centuries old paper currency system etc so considering all these we are sitting at pretty good adoption rate.

imamusma

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OP, there are over 8 billion human population in the world today and you can't conclude that all these humans think the same about bitcoin. In fact you will find that there is always difference of opinion about which particular assets most people think are good while others think they are bad. Try to focus on the variable only, namely the community. I mean you can expect this community to grow stronger and grow to continue to support bitcoin and find one clear reason why they believe in bitcoin.

Bitcoin is not scam, nor is it ponzi scheme, but you can't always prevent people from using bitcoin for scam schemes and other schemes. Remember, bitcoin is money, it can always be used for good or bad.

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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.

Quality over quantity. I believe it’s better to have a slow growth on the number of Bitcoin user as long as those negative mindset will be filtered out. We don’t need user that see Bitcoin as scam so easily because they will not think that way of they will just put an effort to do more research.

Here in Ph, most of the people see Bitcoin as scam because many ponzi and scam investment use Bitcoin as mode of investment. The result is those victim testify that Bitcoin is scam instead on blaming it to the real culprit which the person behind scam.

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

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.

It’s very hard to determine what’s the real position of the “world” since its too generalized but Bitcoin is now becoming more established due to the regulation imposed by different country. Bitcoin will be valued more in due time. Let’s cherish while we are still the minority so that we can still benefit on low price.

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The Bitcoin adaptation process is still going on, even though we don't know how much growth it has for each country. But the progress has been better than in previous years because there has been a lot of attention from the wider community trying to use Bitcoin properly.

And even though many governments haven't made Bitcoin legal, that won't stop the development of Bitcoin in other countries. But it's true that Bitcoin is still a tool for fraud for people who don't know Bitcoin clearly and eventually become victims of the scam.

But in the future, Bitcoin will grow even more rapidly, especially if more countries or Bitcoin users can accept Bitcoin as a profitable investment for the long term. And they will see when Bitcoin can reach new ATH again very soon.

ajiz138

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Because bitcoin is fluctuating and also with high volatility with high profits and also the risk is the same if people who don't understand bitcoin then they will think it's a scam because in their minds investing with high risk is the scam they think.

In contrast to us where there are real reasons why believe in bitcoin even though it has a high risk of its decline rate, on the other hand bitcoin has influenced many other sectors there are also the opposite and that is where the bitcoin side has always been controversial, but I believe in adopting it slowly and make people understand what bitcoin is they will be aware of and how important it is to invest in bitcoin so in their minds it is not something bad.

demonica

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What I've noticed why people aren't interested in Bitcoin is because either they have no access to technology or find it hard to understand how all this stuff works, no means to invest, lack of awareness, afraid of losing money, and such. I agree with op, though maybe some people still see Bitcoin as a scam but it definitely decreased over time. We've seen more adoption of Bitcoin in the past years so those negative thoughts on Bitcoin are fading. I also believe that the often use of the internet helped a lot in spreading Bitcoin awareness faster to other people, especially to younger people who seem to be highly interested in Bitcoin and crypto right now.

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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.

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.

So it would be hard for them to consider holding Bitcoin to use it daily.
Nevertheless, the community is still growing bigger 💗, and people's interest in Bitcoin and cryptocurrency keeps growing.

It's both, lack of interest and lack of knowledge.

Most of the people see Bitcoin as a scam, (1) because of its price/value, (2) because of scammers who are using or used Bitcoin as a bait to steal others money. People are scared of those two things, that's why they are always skeptical about investing in Bitcoin. Also the FUDs going around every bear market is not a joke for the people who doesn't really have any idea about cryptocurrency.

We can't blame them though, they just not chose to get out of their safe zone, only few people chose to risk their money to grab opportunities that is in cryptocurrency.

Topic: Does the world still see Bitcoin as a scam, or is it just a lack of interest? - page 4. (Read 557 times)