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

I agree with your analysis. Bitcoin is not a scam, but it is also not for everyone. It requires a certain level of risk tolerance, financial literacy and long-term vision. I think the best way to increase adoption is to educate people about the benefits of Bitcoin and how it can empower them to have more control over their money. Bitcoin is not just an investment, but also a tool for freedom and innovation.🚀

That is the dream of their day. They think bitcoin was created through the obnoxious policies of the so call government. Let them wait while their mates are making it from bitcoin every day. They are still sleeping they will wake in the year 2090 and by then they will regret.

Government can't regulate bitcoin and the only thing or institution that government can control is the exchange platforms because those onez operate under their jurisdiction but bitcoin is a global asset that has no specific office for questioning.

Many people are waiting for Bitcoin regulation to start getting involved but it's impossible because Bitcoin is not a security like how the SEC hoped for, so therefor those who wishes for a regulation will wait forever, some people do think that Bitcoin is a huge Ponzi scheme but I believe that those who are waiting for the government to give them the buying order are so many, People have gotten used to following what the government says, only small portion of the world population likes Bitcoin better.

Both. People are somehow divided when it comes to cryptocurrency and how they see bitcoin, there are some who views bitcoin as a form of scam and without the government's support, that just added another fuel to the fire to confirm about their view even though it is not really true. And there are also some people who doesn't have any interests at all, factors may vary but it will still end in the same road as if there is no dedication, it's just impossible to learn about it.

It seems to me that many people still consider bitcoin as a scam, otherwise bitcoin would have more mass adoption, because its advantages are hard to deny. The number of transactions, in my opinion, cannot be considered an objective indicator of the mass interest of people in this asset, because here it is rather interesting how many new people join the network, how activity among newcomers increases. It is clear that among those who are already familiar with bitcoin, interest remains. But the question is whether it is enough that this interest is supported by "internal" users, or is it still necessary to strive to attract new people from outside.

Some people still consider it a scam, Ponzi. My neighbor is a real estate broker, they have heard a lot about bitcoin, but they still call it a scam model because they don't believe in the huge profits it generates, and it is the result of a lack of knowledge. Furthermore, what OP is saying is bitcoin is not yet widely accepted and used, he is not mentioning its price and value. If you look at the world population and the percentage of bitcoin users, there is a huge disparity, less than 3% of the world population knows about bitcoin.

Both lack of interest and it been called a scam has their role they're playing in making people not believe in Bitcoin, the government has been attacking the market and has spoiled the mind of people. Bitcoin been called a scam is the reason we have many people not interested in learning about Bitcoin because they believe one day the government will wake up and ban the Bitcoin and other altcoins as well.

The world can see bitcoin as it wishes but it'll keep growing, the growth might be in a moderate rate because of all the negative things the government are doing to make bitcoin distrustful but at the end it'll prevail because Bitcoin is built different and can't be stopped by the Fed.

Yes, the community keeps on growing everyday and even we're still not that much of the percentage of the world population. If we'll look at the brighter side that we're growing and just keeps on growing, that's already a win.

You see some members here are from those countries that have mentioned and has a law that bitcoin is illegal and yet, they're here and hold bitcoin. It depends on the individuals and from that situation, we can say that even if the government bans it then there will still people that'd be on it.

I don't think it's for both of them at this time, people are afraid of punishment from the government if they have it, especially if it's a country that is really anti-bitcoin,
judging by the development of btc and other crypto, it is very good in its distribution and the effects it gives, although sometimes a few people use it to cheat

There is no proper awareness on bitcoin. Specific people engage themselves in doing good for the community, whereas the majority doesn't want to take the risk and end up the plan of spreading the word. People very easily conclude it is a scam and they won't be in a situation to understand how things have changed over time based on its demand. This is all because of bitcoin not having a physical presence. Not everyone understands the reality and the innovation.

I guess the end bottom of this is that these kind of people have not received proper education about bitcoin. Yes, they know and are aware that bitcoin exists, but they don’t know actually how valuable it will be in the future. Otherwise, regardless of its on going adoption, people might have been in competition with buying bitcoin just to own a portion of it so they can also benefit it when the bullish market happens.

I think that it is really the lack of interest for most of the people who claims it as scam, it is easy to educate yourself about it on how Bitcoin or crypto works on how this investment or trading works.
But they just want to ignore it and think of it as a scam because they don't want to acknowledge it, they don't want to waste their time studying it or learning it.
We couldn't really force them to believe in it or say that it isn't a scam because they wouldn't believe it and they wouldn't acknowledge whatever we say about it.

The world doesn't see bitcoin as a scam, just as a high-risk investment, and as we know the high risk can give us big wins or a big loss, there is where the risk is at. And I don't think there is a lack of interest, I mean, the amount of transactions we have each day is still huge and the price is still really high compared with how much it was bitcoin worth at the start of the year. We are talking about bitcoin started this year at $16.5k  and now is $27k, still a huge win for those who invest this year.

People who sees bitcoin as a scam do lack the interest to invest in it simply because they don’t have the adequate knowledge when it comes to bitcoin. Instead of craving to own one of it because of its high value, they hold onto the wrong idea and grip theirselves not to be attached with bitcoin. But this is not the case right now. People have started to like and embrace bitcoin seeing big countries are already adopting bitcoin as part of their payment system.

You forget that it wasn't the people who needed Bitcoin the most who mostly advanced the Bitcoin ecosystem. It was very likely mostly the people who needed it the least.

The whole OP title is misleading because asking whether "the world" still sees Bitcoin as a scam implies that the world in its entirety ever saw Bitcoin as a scam. That's not true. I have never seen Bitcoin as a scam. I have seen scammers using Bitcoin, but that is quite normal. I have heard there are thieves escaping with a bike, but that doesn't make the bike a scam. I believe that most people don't care, some people think it's a scam, some people hold it, some people truly embrace it and few people advance the industry.

It significantly depends on the peoples' experience as well and what their sources of information are. If they talk to someone they know, the impression could be positive unless that someone got ripped off in an alt coin ponzi scheme and says Bitcoin is to blame, which happens quite often. Or people believe it is a scam because an exchange got hacked and that is dominating the news, claiming that Bitcoin is the problem.

Many different issues that would and could have to be discussed in detail in order to derive reasonable conclusions what "the world" right now thinks of Bitcoin. An aggregated, well analyzed broader public opinion requires a lot of work.

That's false, BTC is a currecy and can be used as a form of payment through merchants that accept payment in BTC, and there are so many of them. You don't need fiat transfer to send BTC from your BTC wallet to a merchant who accepts it or by scanning their QR code for payment, once sent, the merchant would release the commodity to you, just like every normal payment method.

Most people still see BTC as a scam for an obvious reason: they simply don't need it. Cryptocurrencies are interesting for certain groups of people, since there are no possibilities to use it as an everyday payment method, at least now. Nearly nothing can be bought nor sold via BTC without fiat transfers.

But it is still not the same before that majority of the people who heard bitcoin will think that it is scam, right now only few of them as other somewhat already have little knowledge on bitcoin and not treating it as a scam, most of the reason why others are not jumping to bitcoin is because of the volatility and the risk that it gives to the people and added to that the inflation which most people don't have extras for investment. But  no matter whats the reason is as the time or years goes by adoptions will increase overtime and no one cant stop it.

And what kind of education should be about bitcoin? The study of cryptocurrencies is entirely the initiative of an individual, we are not talking about some kind of national training program here. Most governments are either not interested in mass distribution of bitcoin, or do not know how to interact with it. But this is not a reason for individuals not to engage in self-education, especially since in many countries it is bitcoin that becomes the way out for people whose living conditions leave much to be desired. That is, it is in their interests. Then why sit and wait for the government to accept bitcoin, thinking it's a scam?

I think it is due to a lack of knowledge, bitcoin is not recognized in many countries, there is no education about bitcoin, and too many scammers take advantage of bitcoin's reputation to do bad things. So it's no surprise that many people consider bitcoin a scam. Bitcoin will always be considered a scam until the government accepts it.

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.

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.

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.

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.

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.

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.

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.



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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.


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.

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.

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.

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.

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

Both. People are not yet ready to adopt bitcoin completely because they still fall on the misconceptions about bitcoin. The fact that they believe it’s a source of scams, that alone hinder themselves from learning into bitcoin. And I think the reason all of this is because they are not getting proper education for bitcoin, and they have not met some people to do that for them. Because if there would be good Samaritans who will likely to help these innocent individuals so they can learn and start embracing what’s bitcoin can offer them, I guess it will be very possible that they will develop the eagerness to learn more about bitcoin.

For now, if you look at some of the conditions where they don't believe in bitcoin, it's because they don't try to find out more and only hear a few words from the media, of course there are a lot of corners in this matter.
On the other hand, bitcoin, even though it has been more than a decade, is still something very new if you look at the long term, so it is quite natural that many people do not recognize this, considering that the stage in their development is still ongoing.
By looking at the current prospects, it can actually be said to be good because regardless of anything, the longer the development, the bigger it is and I don't think there is a problem with that because it's only about time that everything can be answered.

No longer scam I guess; this technology has proven itself already. However, not all people would be interested investing in a too volatile asset no matter how high the profit potential is, and that is absolutely okay. With regards to adoption, I'd say it became slower than before but that is just fine as well. Even in this forum, for sure most of us are using cryptocurrency not as a mode of payment but as an investment to make use of the volatile market prices.Over the years, the market value have been increasing and falling. And if you are an investor who is here because of the hype and not because you know what you are trying to deal with, the cycle would continue. This kind of investment is not for everyone.

Well illiteracy is another contributing  factor to poor adoption  of bitcoin  in some area and there are also some several  factors that contribute  to this such as poor electricity and the rest of them.
I wouldn't  be surprised  if people still think of bitcoin  as a scam because of its very high volatile  nature and bitcoin  can easily  been called a scam especially  by a newbie investor who suddenly  makes loss in bitcoin  and panic  sell out of fear.
One of the ways to help fight against  this is proper awareness  and enlightening of our neighboring community  and I believe  this will help increase the basic knowledge  of crypto  in our grassroots.

There are still prominent people that see Bitcoin as a scam or a bubble, one example is Warren Buffet.  In previous years many countries are skeptical about Bitcoin and most of them think that Bitcoin will do more harm than good but little by little these countries are seeing Bitcoin in a new light.  Even making Bitcoin as mode of payment and thinking of taxing it to benefit from the industry.


Sometimes people belief is hard to change, so I think it is better to look for the right audience and educate them  It will make the work much easier then let this unbeliever to see the glory of Bitcoin and make them change themselves.

I would say both. People will never stop from doing so unless they will be educated properly on what is bitcoin and how it works for us. That’s why a lot of people have no interest for bitcoin, whether it’s trading or simply investing because they fail to see the potentials of bitcoin in the first place  as a highly valuable and profitable one. And I think if they solely rely on the government to educate them, that will never happen. They should do it on their own  if they really want to learn and experience bitcoin.

I beg to differ with your opinion on fiat currency. Fiat currency are not completely scam and you know they are their own part of role in every economy. Despite it's vulnerability to inflation, fiat currency can not be absolutely do away with. There was fiat before the Bitcoin and the duo can not be separated. You need fiat to get the Bitcoin and but you don't actually need to Bitcoin to get the fiat.

For Bitcoin to be accepted widely in world scale will easily take another 10+ easily if that’s what the goal is, Because one of most important key factors for anything like this would be educating people about it and been spoken about in our day to day life. Unfortunately due to no support from the government this whole bitcoin acceptance by the general people is very controlled if that makes sense. Anyone who doesn’t have a decent amount of knowledge about technology will never invest or own a single cent of any cryptocurrency.

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.

I believe it’s a clear manifestation that people have less knowledge about bitcoin or no knowledge at all, because they chose to trust fiat and invest using fiat, than to use bitcoin as a currency and as an investment believing that it’s not valuable after all. But not all people have the same mindset and those who know bitcoin well are only those who can be successful as well. However, if there is proper education on bitcoin which I think the whole world lacks, then it will possibly change the negative concepts of the people. But knowing the government is the number 1 enemy of bitcoin, they will always control the people not to trust bitcoin.

It's a mix of things, but all of them can be overcome in time.
If you ask yourself what is slowing down bitcoin at the moment, one of the answers will be the old generation that thinks they don't need bitcoin because they've been living in the fiat world for 70 or 80 years and that's all they know. Some of these old people don't use the Internet and don't even own a computer. These people will in time disappear and their places will be taken by current 40 or 50 year olds who grew up using computers and being familiar with bitcoin.

Another thing that stops bitcoin's expansion is low Internet penetration. Large part of the world has no access to the Internet and without it you can't expect people to use bitcoin. This is again going to change in the next 10 years.

Keep calm and make sure you have some bitcoins  

The time will come for bitcoin to gain more usage exposure among the public if governments agree to legalize its use cases as legal currency. Not now, but maybe in the future.

But anyways, I think the assumption about bitcoin scams has been discredited by most people because they are sufficiently educated about legitimate investing. Bitcoin has been adopted as legal tender and currency in several countries, also bitcoin has been legalized as a commodity asset with government approval so assumptions about bitcoin fraud shouldn't affect bitcoin's future too much. Interest has increased especially when most people started to realize that bitcoin is a profitable investment asset instead of keeping fiat in the bank. So should the interest of users and investors every day has increased for bitcoin.

Bitcoin is a tool, and like most tools people are only going to use them when they think they need them, we know that fiat currencies are scam and the longer you hold them the more of your wealth you will lose against inflation, but people are simply used to this process already, so we will need for the inflation to become more notorious before people begin to consider other options, and once they begin to consider their options then some assets will be at the top of that list, and we know that one of them will be bitcoin, and when that happens then the adoption will grow at an astonishing rate.

Definitely people who question about Bitcoin on Quora will see bitcoin as a scam as it's filled all over the platform, how people got scammed and lost money trying to invest into Bitcoin. Aside that such readers may not bother about venturing into the currency to understand it better, what they see is what they know, so such individuals will call Bitcoin a scam project. However, we all know that they is more to Bitcoin than just seeing it the way people paint it on the internet. Many people made and are still making a fortune through Bitcoin. I think more positive answers about Bitcoin should be circulating on the internet to help newbies stop staying scared.

Dear op, you raised a great point as all the other OPs had made by creating similar topics. Even i started a topic by the name of Does People Really Care About Decentralization? which somehow has the same context as yours. So, the point is, there are many reasons behind less adoption of BTC. Such as;

• Less or no education
• Misguided by scammers and newbies
• Stagnant mindset of a person who does not intend to think outside the box
• Religious beliefs as in my religion, many people consider it haram. (Not fair)--> This is the first factor among others that caused less adoption of BTC among my community and AFAIK it's not.

These are some of the main factors in my area which i have observed. How can we overcome it, Only one answer is by guiding them and by educating them. Other than that showing them every stat so that they can decide for themselves.

When classifying scam, I don't think bitcoin is a scam rather it's a lack of understanding or reading broadly to get the required knowledge. Altcoin most times have the ability to swipe investors investment due to the trust and reliability they may seems to have on that coin, maybe people are being scammed today because they are looking for a fast yielding investment that could likely give double of their investment by making the wrong choice of choosing altcoin instead of the mother coin being bitcoin.

You mistake the change of a couple people's minds as a representative of the collective opinion of the people regarding bitcoin. A good portion of the critics still see it as a ponzi scheme, and well, of course there's a good portion of the population still quite ignorant about bitcoin's utilities and its benefits. You just debunked your own argument. The people are skeptical of bitcoin's legitimacy? Well because they still think it's a scam. There's just no other reason behind it.

Advertising bitcoin isn't enough. Proper education as well as word of mouth is what's going to expedite this adoption, nothing else. The more you artificially swoon people to choose bitcoin, the more they'd see it as a scam.

My take on this is that the word no longer says bitcoin as a scam, it is just a simple lack of interest. And this stems from the fact that people have not actually taken their time to understand what Bitcoin and the Bitcoin ecosystem is all about personally I believe that most people are just too lazy to do their own research. They would rather go with the public verdict than their own opinion. This has led to them not being able to buy Bitcoin, store Bitcoin and even make simple payments with Bitcoin.

It's unlikely that this is the case today, as Bitcoin has been around for over a decade, and negative perceptions have mostly dissipated. Rather, the low adoption rates may reflect a general hesitation towards a risky investment, especially one with such high market volatility. People may be more inclined to save their money or invest in low-risk markets, despite inflation.

And one thing about human being is the inability to change their initial concept or perception about an idea or technology.
It is better they have not been taught anything about any rising technology.
But if they are being taught the wrong thing, the ability to eradicate the wrong idea and incorporate the correct idea is so difficult for humanity to adapt.

Once the sense of scam has been giving them about Bitcoin, so many of them still carry it in their head.
But it is not their fault. There are so many scammers who hide behind Bitcoin to perpetrate their evil. Then Bitcoin is decentralized such that the bad players always find a way to escape using Bitcoin and its subsidiaries.
This is the reason why Bitcoin is always seen as the bad player, especially by the government, who is looking for every possible means to centralize the whole world.

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.

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.

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.

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.

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.

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.

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.

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.

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?

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.

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.

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.

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.

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.


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.

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.

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.

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.

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.

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.

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.


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.

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.

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.

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.

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.

Knowledge is power,lack of bitcoin knowledge is the cause of low adoption.
1. Some newbies that think investing in any crptocurrency means that you have invested in bitcoin. The reason is that they don't know that all crptocurrency doesn't have the same value of bitcoin, therefore, they blindly invest in altcoins. Due to the fact that altcoin cannot survive in the market,it will crash to zero,making the investor to loss greatly and these set of investors will go about telling people that bitcoin is scam,unknowingly to them that it wasn't bitcoin that they invested on.
2. If someone has the proper understanding of bitcoin and its decentralized network, they will know that if they don't use a centralized platform for their bitcoin dealings, the government will not be able to track them down,even though their government put a ban on bitcoin in their country. We have so many people in the forum that bitcoin was banned in their country but they still make use of bitcoin and have bitcoin investment.
3. No business is not risky,if you have the knowledge on bitcoin, you will follow bitcoin four years cyclic and be patient with your bitcoin investment for you to always make profit. That is you will know that investing in a long term is the best for bitcoin.

If bitcoin is called a scam now, in my opinion, this opinion is very wrong. Because bitcoin has proven, that now more people support it and there are even countries that have adopted bitcoin as a legal transaction tool. So in my opinion, if now there are people who call bitcoin a scam, that's wrong. I am also of the opinion that the people who call bitcoin a scam are people who are not invested in bitcoin at all. They only conclude bitcoin based on illogical thinking, not with in-depth analysis.

Maybe right now there are still people who think negatively about bitcoin, but it seems it's starting to decrease, because now it seems more people are more open-minded about bitcoin.

I think your opinion is not right. Because in my personal opinion, the reason why not many people have adopted bitcoin is caused by several factors. Such as lack of information, because it is undeniable that information about bitcoin has not spread evenly to all people, so that's why bitcoin has not been maximally adopted. The second cause of the delay in bitcoin adoption is caused by the fear of trying. Because not a few people are reluctant to try something new, because they don't want to take risks that they don't know. Maybe those are some of the factors that have hindered the adoption of bitcoin in my opinion.

The only people that sees bitcoin as scam are people that don’t know anything about bitcoin, I know of some people that still believe bitcoin is scam. But the government that still see bitcoin as a bad thing is just trying to stop bitcoin from growing, but they also know that bitcoin is not a scam, but they are looking for how to fight bitcoin so that bitcoin won’t grow and the only way which they can do that is only my saying bad things about bitcoin so that people will lose interest in bitcoin, they are just trying to tag bitcoin with bad name.

Yes we know bitcoin is a risky business, but I want you to mention any business or investment that’s not risky to me. Business is either profit or loss, if you make profit, you work on yourself to keep on growing your business and if lose, you look for the cause of the lose and you will work on it to avoid more loss in the future, same goes to bitcoin. So people saying bitcoin is a risky business those not have any excuse because any business you are planning to go into is risky.

The most popular view about bitcoins was that it was a scam before, but now it is not perceived as much as that before although some other people and in some areas such views are still held strong.

I can agree to it. Some people have not seen reasons to buy bitcoins even though they no longer see it as a scam. Some people believe that they have already lost out and can no longer benefit from bitcoins since they cannot buy big amounts.


These people need proper knowledge to know that saving money in banks will do them no good.

I believe lack of adequate knowledge and proper awareness of the real essence of bitcoin have led many potential investors into making So me wrong investment decision and this have lead to them into falling for scam investments all in the name of bitcoin and while the got scammed through those scheme, their now have a general notions that Bitcoin is a scam.

That is why there is need for adequate education and awareness before owning your first bitcoin, because there os a lot of scammers taking advantage of the anonymousity of bitcoin to use is in scamming gullible investors who fall into they trap.

Now Bitcoin is gaining mainstream awareness and the usual misconceptions about Bitcoin is beginning to fade and people are now better informed and their desire for self-custody is pushing them into search for knowledge that could help guide they decision as the act along with the volatility of Bitcoin.

And so far we now have countries making bitcoin legal tenders and that is something that show how strong and persistence bitcoin have been in the last decade to arrive at the present state of things.

Bitcoin investment is not for the chicken-hearted and if you dont have the balls to practice patients,  Bitcoin is not for you because of Bitcoin's high volatility it has become risky to invest in it a bit since Bitcoin is a highly volatile asset, not many people are interested in is an investment since price of bitcoin can be speculated and there is no way to predict Bitcoin future price.

IMO, it's a matter of (lack of) education, but more in the economic and financial sense. If you randomly ask a merchant in the street why doesn't he takes Bitcoin as a payment he will tell you one of a few things: or he doesn't know what that is, or he says it's a scam, or he's unaware about how to deal with taxes and government and all the bureaucracy that he thinks it may have to deal with.
So, I stand that youth should have some economic and financial concepts early in school, and when I said this, I mean at least have the chance to chose to learn between keynesian school and Ludwig von Mises school or the Austrian school of economics.

You yourself has just stated that the reason people see bitcoin as a scam is because they don’t have knowledge about it, and that is the only answer to it. People have always seen in the past that every investment associated with the internet most especially if it promises a return it is usually a Ponzi scheme, so when bitcoin came up they all had same narrative towards it.

But as bitcoin continue to persist and proves all doubters wrong we can see that the adoption rate is fast growing. Concerning it risk, this is just a thing spread to discourage people from it vex there is no investment without although it is greater in some investments but the higher the risk the more return it could also generate so it is vice versa. As for those looking not to invest they can just buy and hold as it is better than fiat currency because of his advantage to hedge against inflation

There are a lot of pros/cons of getting yourself into bitcoin, yeah there are risk but we all know that the risk is going to be worth in the long run specially if you want to be a long term holder.

As for the used, one drawback is the volatility of the price, that's why merchants are not readily wanting to accept it unless the owner is pro-bitcoin and again, holding to hold until such time that he needs to sell it to continue with his business.

Adoption is growing though, there are many investors right now and for sure when we are in the bull run, the number of bitcoin hodlers will grow.

There is no perfection in life and so is Bitcoin adoption. There are people who like Bitcoin and accept it but oppositely there are people consider Bitcoin as scam or they simply don't like Bitcoin.

They are people who feel happy whenever Bitcoin falls a lot, has a big correction or a serious crash. Some of them can make call "Bitcoin is dead" which is less popular with time.
https://buybitcoinworldwide.com/bitcoin-is-dead/
https://99bitcoins.com/bitcoin-obituaries/

The adoption rate for Bitcoin is very good and can be considered as a best one in human civilization history.

I totally agree that the perception of bitcoin is highly dependent on the country. Countries in which, in principle, the tradition and culture of investing are not developed, still continue to perceive bitcoin and other cryptocurrencies as a scam. People from such countries find it easier to invest in local business schemes or real estate, which they have been familiar with for decades, although these sources have long ceased to bring profits that could equal those from bitcoin. They have outdated views that are difficult to change, convincing them that the world is changing very quickly, and financial instruments are becoming different.

I think There are several reasons why some people still view Bitcoin as a scam. Firstly, it is a relatively new technology and there have been several cases of fraud and scams involving cryptocurrencies in the past, which may have created a sense of mistrust in the minds of some. Also, Bitcoin's decentralized nature and lack of government regulation may make it appear less legitimate to some. However, there are also valid reasons why others see Bitcoin as a legitimate investment opportunity. For example, its limited supply and decentralized nature can provide protection against inflation and government manipulation.

And regarding your opinion on the fact that Bitcoin is a high risk investment, and not everyone is comfortable with that level of uncertainty it's understandable that many people prefer to stick with safer investment options, even if they don't offer the same potential returns I think it's fair because all want to invest looking for profit not even a loss. I personally would say whether someone sees Bitcoin as a scam or a legitimate investment opportunity will depend on an individual's perspective and level of risk tolerance.

I wouldn't much agree with that, the low rate adoption of Bitcoin basically is because most people lack knowledge of what Bitcoin is all about. They see Bitcoin and other cryptocurrencies as a means where people get scammed. All over the world they are different views and reasons why Bitcoin adoption has been very slow.
1. In some countries, the government sees Bitcoin as something that could affect their economy so places a ban or restriction.
2. Some countries lack technological equipment that would enable their citizens stay uptodate with Bitcoin e.g electricity and internet.
3. In some countries there are not enough  Bitcoin or cryptocurrency experts and as such even though there are people to learn, there's no one to educate them on the whole idea about Bitcoin.
 

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.