Topic: Features that destabilised people in bitcoin (Read 298 times)

The recent days have been challenging for the bitcoin community due to price declines which is about 26k causing a lot of negative sentiments in the crypto space. For some of us, it is not the first time we are going through this, but it may be the for some beginners. One of the ways they can avoid getting destabilized in bitcoin is for them to prioritize thorough research over relying on social media hype before exiting the market.  Beginners should check out different diversification strategies in bitcoin and cryptocurrency community.

Based on my experience with the majority of people here in our country I interact, with why they cannot and don't want to invest in Bitcoin is they cannot afford to lose, they do not have the patience to wait to make a profit, their concept of making a profit is it should be immediate and it should not take weeks months or even years if it takes months or years to make a profit they consider it a loss business or investment.
Misconception is another one they don't want to read complicated graphs and they are not good at transacting using Bitcoin
they are so used to old ways that they have a hard time understanding the concept of blockchain

You are right, but compared to the OP's list it seems more like a detail rather than a proposal of a new "feature" to be added to the list.

Another little "pill" I would like to mention is that the impatience has been key (until now at least) as a reason why many people lost or didn't earn more. I guess that those who want fast returns are damned to fail both at buying and selling at the right moment, because of their impatience.

Some people invest without having good knowledge of what they are investing in. In the end, they are disappointed with the result. I think the fear of missing out makes newbies jump in on Bitcoin at the wrong time and when there is no 2x on their investment they become sad and regret why they did such an investment.

This is not what I was expecting though when I read the topic. I expected the discussion to be more technology related than these common things that are reasons that destabilize people from bitcoins and not features.

This can be a reason against people who are interested in investing in bitcoins. As a result of the past failures they have experienced with other kinds of investments maybe online, they do not trust bitcoins and will not easily invest in bitcoins.

Maybe they have heard bad stories about bitcoins that can be discouraging. Discouragement can be direct or indirect. Someone does not need to tell you directly not to invest in bitcoins, a story that they share with you can indirectly be a discouragement if you plan to invest in bitcoins.


Someone who accepts bitcoins can still even be distracted in continuing to invest in bitcoins by deciding to start investment in other alt coins. Many altcoins are distractions from investing in bitcoins.

I think it's true what some of the other members have said that what you convey is more for personal reasons for each individual, not a problem with Bitcoin features.
I think the feature of Bitcoin that makes one often unable to survive is its volatility. The rest are external factors because other Bitcoin features, in my opinion, may not be a problem.
External factors in my opinion are the same as what you convey, namely factors from the investors themselves and also factors from policies/rules/regulations regarding the use of Bitcoin by the government where we live.

One thing that discourages people from Bitcoin is a lack of patience.
Bitcoin was sold to a lot of people as a way to get rich, this is not entirely false but they were not told that it's not a get-rich-quick scheme. You have to be patient.
There are times when Bitcoin will dip and you might begin to question your decisions. In times like this patience is what you need. We need to trust Bitcoin. It is the trust that gives Bitcoin more value in the market. We should learn to be patient when dealing with Bitcoin.

Bitcoin is very volatile with its price and regulations on it are uncertain. None of us can be certain about future of Bitcoin and it causes uncertainty, chances for FUD to be used in this market for manipulation.

We have belief in Bitcoin but belief can be either strong or weak and can stay or disappear when FUD comes, new regulation is deployed. People need many years to have diamond hands and can be sure about their investment decisions in Bitcoin. New comers in Bitcoin market are most sensitive with FUD.

I think fear of losing money could also be one of the factors that destabilize investors, traders invest their funds without proper orientation or not bearing in mind that no investment on this earth is safe.
The fear of losing money will only make you loose more or it will stop you from taking a huge step in your trading life.
A trader should bare in mind to loose some money but applying proper risk management will help in staying longer in the market.

You are talking about psychological factors that can apply to almost any idea, not about investment, let alone Bitcoin. I can take a topic like learning and say that
Procrastination makes you postpone lessons, failure in the past, frustration, distraction and comparison are all psychological factors that are constantly repeated with all the things that may happen in life.
In Bitcoin, the matter is slightly different, given that it is a high-risk investment, where the emotions of greed and fear move strongly, affecting all previous emotions. Fear affects procrastination, distraction, frustration, and greed in comparison.

That's why proper preparation needs to be carried out before one can be successful in having a Bitcoin investment, lack of planning can ruin so many things for you and likewise same feat goes with Bitcoin investment.

Wrong information about anything not only Bitcoin can be destructive and that's also the major reason like you said which have caused so many people to any have think of Bitcoin in an odd way or wrong view.

Bitcoin is only Bitcoin and has an Orange icon.

Your adventure with Bitcoin and how you do it will bring rose, pain, profit, loss, stress or happiness, it depends on you, not Bitcoin.

You have options to choose, basically investing or trading. Investing or trading intelligently will give you different experience with your bitcoin but your result or ending will solely depend on you.

Be knowledgeable and responsible with your capital management as well as risk consideration and preventive methods for your positions and capital will help you to have more smoothy and rosy adventure.

These highlighted information are general problems people face in their quest to achieve success or get results in any field or endeavor.

Most people have lost the opportunity to get some profit from investing in Bitcoin because they are waiting for the price to get to an all-time low. They keep procrastination until it will become more expensive to buy. The problem is that even the fiat currency they are holding is losing value every day.

I have also seen friends that refused to buy bitcoin because they lost money in some altcoin or scam crypto project. So they allow their past failure to determine their current decision. Due to this failure, they have decided never to invest in cryptocurrency again.

Discouragement and distraction are caused by FUD. When people pay more attention to the media than credible information, they tend to lose focus and become discouraged because of FUD.

Wrong information of bitcoin is what can make one not to have interest on investing in bitcoin. In real life,if you try in your business or in your studies and fail,that doesn't mean that you have to give up on it. This is how bitcoin investment is,those that think that bitcoin is a get rich quick project are those that are been discouraged after they have invested and bitcoin price dump below their purchase price. Bitcoin is an asset and needs money for one to invest,a poor man wouldn't be able to invest in bitcoin, if he has all the required knowledge because he doesn't have the resources to invest.

It all boils down from people having not enough knowledge on Bitcoin, that's what keeps many people stopping from buying Bitcoin. The uncertainty and fear that they've got for being lack of it makes them hesitant into buying it. Those factors that you've mentioned, I don't think that it has something to do with buying, it's more of a personal factor why we're feeling that. Well, maybe those really are what you've seen or what you've felt but it's on you and you know the reasons why you're feeling those things and keeps you away from buying bitcoin. Because if a person wants to buy, he'll buy and he has decided to do it before the major bull run comes. It's all about the little information that a person knows and how decided and strong willed he is in doing a purchase.

I read the whole text and you didn’t mentioned any feature of bitcoin that discourages people from buying. I assumed your points were going to be the volatility of bitcoin or the fact that one has to be digitally lyterate to use bitcoin, or something along those lines. However the “features” you listed are not distinctive to bitcoin, these are common factors that are present in the human mind and discourage people from taking the bold step to start a business or an investment.

[quote/] DO NOT POST SESC LINKS
Very nice question 👍. One thing that mostly affect people going into Bitcoin o
isthat they mostly see it as a get- rich quick system. Obviously the main goal of investing or mining is for profit making but many people believe that it's a actually a means where they can just get rich overnight without putting in much effort. This has cost a lot of people in a very bad way and they often discourage others from going into it cause it didn't work for them
People have to be made to understand that they need to commit and pay the price to be successful. That's why platforms like this was created to help people gain enough knowledge about it


Bitcoin Forum is a large online community where members discuss about issues related to digital currencies . Every member has the free space to share their views on any topic they know about which is also useful to others on the forum.
[/quote]

All your points are not specific to Bitcoin and can be applied to anything, even outside of investing. You can add dozens of more reasons like that.

Speaking about Bitcoin, the biggest discouregement for potential investors is the fact that Bitcoin is a purely speculative asset with huge volatility. It's impossible to make a good approximation of what its value should be. It's impossible to predict where will it go, aside from the correlation between halvenings and bull markets. So people will continue to invest in stocks, real estate, commodities, because those can at least be attempted to be predicted.

Don't forget that in Bitcoin investment or acquiring Bitcoin, there is a need for funds.  I think this is the major reason that destabilized people acquiring Bitcoin.  Not all people have the knowledge on acquiring Bitcoin without spending money.  Besides this opportunity is very limited and cannot accommodate all Bitcoin lovers.  No matter how a person possess the opposite of those list @OP stated, if they do not have enough money to buy Bitcoin then all these traits are wasted.

As Upgrade00 had already highlighted, these points mentioned are more of things that can affect newbies from accepting bitcoin, but i will like emphasize more on one of the items you mentioned which is the second one from the list, " past failures" i will not like to make it appears to newbies as if bitcoin already had some past failures before, bitcoin has never failed anyone that have invested, bitcoin is not a pyramid scheme people often called ponzi, it's neither not a scam currency, people have this past failures with other cryptocurrencies which happens to be shitcoins or scam together with so many investment platforms online they have taken away alot worth of asset, now bitcoin has come to restore back the trust and come decentralized, you could safely invest without fear of missing out.

From my daily learning and understanding, permit to say Bitcoin is not all just bed of roses, you do not expect every time to be in a win situation... You should prepare yourself for the loss and you don't expect to fail at al times. This is one reason bitcointalk.org can be of great importance to those who believes in the system, make enquiries, study on our own so we know when to buy and when to sell... This are basic tips we should abide.

I can not agree more with your all points, because these are the some main points we all as newbies have to face, for example, one of my friends who wanted to invest in BTC is in procrastination. Why? because he is currently thinking about which time will be best to enter into the market, He has no past experience which might have held him back the only thing I am observing is he did not want to accept losses in crypto, he wants to make a 100% good entry means from a point where the price of Bitcoin will never go below instead always go up.

We can all this scenario as, "trying to time the market" and belive me not a pro or 10 years experienced trader could time the market 100% and we all have to agree on that but we could increase the profit ratio by adopting some techniques for example, by doing DCA etc.

OP you're totally right about Bitcoin being a personal journey. I was hoping if you could tell us if you've ever faced any challenges with Bitcoin. Maybe you haven't because you're also new to this, just like me. The question is, how did you learn about these features? Did you figure them out from news or something else?

I guess there is also one thing, when people think that bitcoin is a way to get rich quicker. And then they found out that it's not easy as it sounds. And so they are discourage to invest and then just go on meme coins thinking it could be the way as well.

So for me, there could be some factors what the OP has laid out. But in the end, we really have to understand how everything works. The best thing to do is just stay with bitcoin at least for one whole cycle before you complain or procastinate.

Your topic title sounds like you wanted to write on features of Bitcoin that makes people not to invest in it, but the content is about personal reasons that make people notninvest at all, not particularly related to Bitcoin at all.

An investment mindset take careful training to build, failure to build this is the reason why many people do no succeed at investments or never even take the bold step at all.

I just want to outline some features that destabilise people from embracing bitcoin, I know that bitcoin is a personal race and it's nice for someone not be distracted on what it dreaming for, and secondly should not allow friends to underrate it's determination upmost in bitcoin race, its a self decision to patterned with bitcoin investment. The following are what I notice that affects someone who wants to invest in bitcoin

■ procrastination
■ past failure
■ Discouragement
■ Distraction
■ comparison

Procrastination
This is one of the main things that seen causes problem for investment, during time of investment what that will make the plan not to accomplish or delay your plans is a procrastination, I seen a procrastination as a delaying action that makes people to lose their preferable opportunity for investment, its good when come up with idea and you make a good decisions which a procrastination can not course a setback

Past failure
This fact make investors lose interest to invest in bitcoin, but this should not make a lover of bitcoin not to continue it's investment from in bitcoin, to be a perfect champion in investment " despite that I'm using bitcoin as key studies" you have to ensure you cross the hurdles of past failure, because when you are looking at the future you don't to be poison your future with your previous or past experience, a risk takers are tantamount to lose or gain in any investment, in summary don't use your past failure to face the present, and an investor should not be short sighted person because you failed in the past doesn't mean you shall never give investment a second trial.

Discouragement
This is similar to procrastination and this is one of the factors that deprived people a successful investment especially in bitcoin due to the information they obtain about bitcoin. Most of the people in social media that is being known that invested in bitcoin did not take chances of Discouragement from people before they invested and become successful, it's clear that a champion will believe on its paths to make its dreams to come to reality. And note: for investment opportunities you don't need someone to encourage you before you invest either in bitcoin or any.

Distraction
Distraction is one of the most weapons that will get someone  distracted  during learning of bitcoin investment, as desperate person to learn bitcoin should know that Distraction can never be a barrier if you have a concrete determination of learning and investing in bitcoin,  you not allow a Distraction to take over your opportunity, and if you want to be successful in bitcoin you should be aware of Distraction.

Comparison
A comparison should not be allowed to discourage you not have the understanding of bitcoin investment before, one of the setback some people experience in bitcoin investment is comparison, learning is the key and we have to be patient to understand the notion of bitcoin

This is my note down of features that destabilise people for investing in bitcoin