Few reasons why people are hesitant to buy or HODL bitcoin/Crypto - page 2.

hyudien

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Quote from: kentrolla on October 01, 2023, 02:02:27 PM

1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

Even though the government bans Bitcoin, it doesn't mean that the flow of funds can be stopped easily and even if it is tracked, it will only be dealt with by centralized exchanges. Otherwise, the government will not be able to move freely by limiting taxes on Bitcoin. Cross-border transactions will overwhelm the government and we can still easily circumvent its policies.

Quote from: kentrolla on October 01, 2023, 02:02:27 PM

2. We need to earn a lot before hodling as most of the users in this forum are joining campaigns where the payment is not even guaranteed especially bounty campaigns so I hope you understand the financial situation of people which is due to unequal wealth distribution created by corrupt government and this can be broken when people start earning more through various source of freelancing instead of 9 AM -6 PM job which has made them slave and only once a person has a good amount of at least $100-$200 (this might be little for us but for people from certain geo region this is way more) they can invest and hodl or trade.

You don't need to have a lot of income, that's just about ideal. Everyone can have the amount of Bitcoin they can afford to hold and not have to worry about consistency methods. Because doing it in a way that you can afford is the right decision rather than having to wait for something that never gets done at all. There are no specific rules for holding Bitcoin. Buy as much as you can and hold on as hard as you can.

Quote from: kentrolla on October 01, 2023, 02:02:27 PM

3. We need to buy in dip or at the peak of a bearish market if we want to buy and hodl for at least a few years, we can take the example of people who bought at the peak of bull run during end of 2017 and had to wait till the end of 2020 to meet break even and gain profit but many end up selling due to panic and fuds, we need proper channels to educate users to avoid panic selling and build a strong community as a lot of negativity was spread during last bear market which distanced many from crypto.

50:50

Buy The Dip is simply a set buying limit, and sometimes it relies on investors determining their trading lines against a long-term benchmark. Holding for 3 years from 2017 to 2020 may be a bit disappointing as it was bought at the start of the bull run. However, the profits will be much greater if you can hold it up to 2x ATH.

Xcode7

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Quote from: Crypto Library on October 02, 2023, 12:54:00 AM

Some of the reasons you mentioned are actually true in some cases why people feel hesitancy to buy or hold Bitcoin for the long term. However, there may be many other reasons for not holding Bitcoin for the long term. But the hesitation in Bitcoin I think is entirely due to our lack of knowledge in this sector.
If you do a little analysis, you will see that most of the people in the world are still not aware of this crypto currency, and those who do know, are filled with various types of FUD in their minds by the governments and media that do not want to ligalize crypto currency. Also many people don't want to invest in Bitcoin for long term because they are short term traders or they know technical analysis about trading.

Indeed, it's all due to lack of knowledge, but there are also those who sometimes hesitate because the level of risk is high so that some people don't want to invest in Bitcoin for the long term, I think that's quite realistic for people who are not ready for big risks.
However, for people who have known about Bitcoin for a long time, I think there is no reason for them to doubt this, especially for those who already know the history of Bitcoin prices from the past.

Obari

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@op you did a great job with your writing and I must commend that but I don't think the first reason is reasonable enough at least from my perspective and there are alot of people holding reasonable amount of bitcoin even in countries where it is banned and yet still have no single fear because no one can easily ban bitcoin because of it's decentralized nature.

Secondly I also do agree with you on the last two points you stated and one major reason I've always believed to have held people back from hold is money to buy and not just to buy but also to buy the dip so buying the dip and having money to buy the dip, works hand in hand. I'm basically saying this from my own pint of view because most times, one reason I don't hold is money to buy especially the dip.

Crypto Library

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Some of the reasons you mentioned are actually true in some cases why people feel hesitancy to buy or hold Bitcoin for the long term. However, there may be many other reasons for not holding Bitcoin for the long term. But the hesitation in Bitcoin I think is entirely due to our lack of knowledge in this sector.
If you do a little analysis, you will see that most of the people in the world are still not aware of this crypto currency, and those who do know, are filled with various types of FUD in their minds by the governments and media that do not want to ligalize crypto currency. Also many people don't want to invest in Bitcoin for long term because they are short term traders or they know technical analysis about trading.

Wind_FURY

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Quote from: kentrolla on October 01, 2023, 02:02:27 PM

Here are some of the challenges restricting users from buying and hodling bitcoin:

1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

2. We need to earn a lot before hodling as most of the users in this forum are joining campaigns where the payment is not even guaranteed especially bounty campaigns so I hope you understand the financial situation of people which is due to unequal wealth distribution created by corrupt government and this can be broken when people start earning more through various source of freelancing instead of 9 AM -6 PM job which has made them slave and only once a person has a good amount of at least $100-$200 (this might be little for us but for people from certain geo region this is way more) they can invest and hodl or trade.

3. We need to buy in dip or at the peak of a bearish market if we want to buy and hodl for at least a few years, we can take the example of people who bought at the peak of bull run during end of 2017 and had to wait till the end of 2020 to meet break even and gain profit but many end up selling due to panic and fuds, we need proper channels to educate users to avoid panic selling and build a strong community as a lot of negativity was spread during last bear market which distanced many from crypto.

Feel free to share your opinion on how we can fix this.

There's simply insufficient education of what Bitcoin truly is, why people actually need it as a back up/fall back in case the Cabal loses control over the monetary system, WHICH is becoming more high-probability now in my opinion.

Everything in your post is from a viewpoint of profit. Understandable. But the more you learn about Bitcoin, you would also understand that it's STILL VERY EARLY. The buyers today are front-running the buyers of the next cycle, and do you know who the next buyers are? If you don't know, it's time to pay attention and save as much fiat as you can and BUY THE DIP, and HODL. I believe under the current tight monetary conditions, we might be given another Golden Opportunity to buy the DIP to $20,000.

davis196

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1.Restrictive and confusing crypto regulations are a major reason for many people not to buy crypto. How can we solve this problem? We can't

2.Bounty campaigns have nothing to do with buying crypto.

3.I don't agree with this. What if the Bitcoin price hits 100K USD? Nobody would want to buy BTC anymore, because it's not "buying the dip" and it's not in a bearish market. Your perception is basically the same as the perception of all the so called "Bitcoiners", who want to buy low and sell high only for the sake of getting more fiat.

You forgot about the fourth reason why the people aren't buying BTC. Buying BTC requires a bank account and ID verification in most cases.
Many people around the world don't have bank accounts and don't want to do ID verification.

koang

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Quote from: kentrolla on October 01, 2023, 02:02:27 PM

Here are some of the challenges restricting users from buying and hodling bitcoin:

2. We need to earn a lot before hodling as most of the users in this forum are joining campaigns where the payment is not even guaranteed especially bounty campaigns so I hope you understand the financial situation of people which is due to unequal wealth distribution created by corrupt government and this can be broken when people start earning more through various source of freelancing instead of 9 AM -6 PM job which has made them slave and only once a person has a good amount of at least $100-$200 (this might be little for us but for people from certain geo region this is way more) they can invest and hodl or trade.

Yep. HODLing is hard. Hard as it can be, just remember the end of the result. Freedom
If we make it through, we will not only gain potential financial rewards but also a deep understanding of the importance of persistence and a long-term perspective in investing.
I believe we're here for a reason, each of us doing our part by holding helps further the cause.
So we have to maintain good financial planning so that we can buy and hodl Bitcoin.
Plan accordingly, and stack harder.

Zlantann

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Quote from: kentrolla on October 01, 2023, 02:02:27 PM

Feel free to share your opinion on how we can fix this.

Many reasons could be the cause of people's lack of interest in Bitcoin let me add
1. Lack of basic infrastructure: Some areas lack electricity and internet connections. And without these basic facilities, it will be practically impossible to be part of the Bitcoin industry.
2. Fall of some major exchanges: People are scared of losing their money and when they hear news of big exchanges going bankrupt they become skeptical about investing in the sector. Most of them are not aware that one can engage in Bitcoin transactions without these middlemen
3. Lack of security education: Some persons feel that becoming their banks is risky because they lack the basic knowledge of securing their wallets. So they prefer to stay away from the industry.
4. Long-term investment: Many people prefer short-term investment. So when you show them the true picture of Bitcoin, they are not comfortable because they want to make profit within a short period.

DabsPoorVersion

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Quote from: jasonjm on October 01, 2023, 11:14:44 PM

I think volatility is the root cause of this hesitation. People are fearful that they might end up losing their money if they invest in such a volatile asset. They are not willing to take the risk and think that they have missed the opportunity, and now it's too late to invest in the market. They neither want to come out of their comfort zone nor willing to understand the phenomenon. Government restrictions could be another reason, along with scams and Ponzi altcoins.

If that's the only case, there will be no new buyers of Bitcoin and all of them will only be hesitant. But the thing is, most of them just had FOMO and immediately buy Bitcoin without any knowledge about it. Then, if there's a sudden change on its price like a sudden dump, they will think of losing their money and will be afraid to buy again.

That's the common scenario, they don't have the knowledge of when is the right time to buy in the market. People don't want to spend their time to at least learn even a little about crypto space that's why they end up losing their investment.

Sarah Azhari

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Quote from: kentrolla on October 01, 2023, 02:02:27 PM

1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

This is a common problem that occurs in many countries, we don't have to be afraid of this because we are people to have anything in the world with no exception like Bitcoin. The government is very limited Bitcoin movement because they can't control it like what they did in fiat. So that case, the government is afraid if Bitcoin become a big power that will shift their hegemony to control people. Nothing to say and we can't avoid that situation than think about how to trick them also. Today many tools which can use for hide our Bitcoin transactions to avoid surveillance from the government, just use that, and you might be able to avoid surveillance.

Pandji02

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Most people don't invest at all. They don't trust it at all, and they don't trust Bitcoin even more. I don't think that we should do something about that unless the person asks you to. Because otherwise it starting to look like you're dragging someone into the Ponzi scheme, even if it's not.

xSkylarx

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The volatility of Bitcoin and their lack of knowledge because it is a high-risk investment and they don't understand it because most of their first impression of Bitcoin was a scam because they heard on the news that Bitcoin was used for illegal things which they think are also illegal. Aside from those reasons others are just scared to take a risk with their money as that is only their money and their mindset is that they want an investment that is 100% sure that you won't lose your money whereas there are no investments like this.

adaseb

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Reason why people now are hesitant with investing in crypto is because price is not going anywhere. This is similar to what happened in 2019 when price went nowhere and people assumed Bitcoin was dead.

Only when we broke the ATH and Elon musk was buying bitcoin then we had FOMO and everybody was buying. This scenario will most likely repeat again with another catalyst. Might be the etf or might be some other reason. Perhaps more banks will fail and crypto will be bought again like in March.

jasonjm

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I think volatility is the root cause of this hesitation. People are fearful that they might end up losing their money if they invest in such a volatile asset. They are not willing to take the risk and think that they have missed the opportunity, and now it's too late to invest in the market. They neither want to come out of their comfort zone nor willing to understand the phenomenon. Government restrictions could be another reason, along with scams and Ponzi altcoins.

HONDACD125

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Quote from: kentrolla on October 01, 2023, 02:02:27 PM

Here are some of the challenges restricting users from buying and hodling bitcoin:

1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

There are often talks about the government banning crypto currency due to which people are not able to invest in crypto currency freely. Currently all the exchanges are working in our country but they have no legal status. Due to which the government can stop these exchanges from functioning at any time. I think people should use personal wallets especially hard wallets where we can keep long term investments safely. We have to explain this to the officials sitting in the government positions, that they should give crypto currency a legal status and make the common people able to earn by themselves instead of being a burden on the government.

Quote from: kentrolla on October 01, 2023, 02:02:27 PM

3. We need to buy in dip or at the peak of a bearish market if we want to buy and hodl for at least a few years, we can take the example of people who bought at the peak of bull run during end of 2017 and had to wait till the end of 2020 to meet break even and gain profit but many end up selling due to panic and fuds, we need proper channels to educate users to avoid panic selling and build a strong community as a lot of negativity was spread during last bear market which distanced many from crypto.

Well, the crypto currency market is said to be a risky market, but Bitcoin is the only crypto currency that is considered to be the most reliable and secure. In my opinion, even if one enters Bitcoin at the wrong time, one can still face losses. Therefore, the time of buying and selling in the market should be very important and correct. Therefore, we have to make people aware that investment in Bitcoin is not harmful, Rather, investing at the wrong time is a cause of loss. The fear of such people has to be removed and they have to be made aware that investments made at the right time can give them good returns.

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Quote from: milewilda on October 01, 2023, 02:40:07 PM

Quote from: kentrolla on October 01, 2023, 02:02:27 PM

Here are some of the challenges restricting users from buying and hodling bitcoin:

1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

2. We need to earn a lot before hodling as most of the users in this forum are joining campaigns where the payment is not even guaranteed especially bounty campaigns so I hope you understand the financial situation of people which is due to unequal wealth distribution created by corrupt government and this can be broken when people start earning more through various source of freelancing instead of 9 AM -6 PM job which has made them slave and only once a person has a good amount of at least $100-$200 (this might be little for us but for people from certain geo region this is way more) they can invest and hodl or trade.

3. We need to buy in dip or at the peak of a bearish market if we want to buy and hodl for at least a few years, we can take the example of people who bought at the peak of bull run during end of 2017 and had to wait till the end of 2020 to meet break even and gain profit but many end up selling due to panic and fuds, we need proper channels to educate users to avoid panic selling and build a strong community as a lot of negativity was spread during last bear market which distanced many from crypto.

Feel free to share your opinion on how we can fix this.

4. Afraid on being scammed, whenever they do see something new and havent done their proper research then they would really be commonly having this first impression but later on on which they would really be able
to realize that they were wrong on the time that they do make their research.

5. No idea, no knowledge, not being aware, no clue about investment matters.

6. They arent that emotionally and psychologically prepared or cant really be able to take up that risks.

For whatever reasons lacking then it would really be just that normal that people would really be having those kind of hesitance specially on things that they are just newly been that able to meet up or
something that it is really that new into their eyes. So impressions would really be common specially to those who do have that zero knowledge.

Once someone doesn't like bitcoin, they have 1001 reasons not to invest in bitcoin, not just the 6 reasons you two gave. People are like that, if they don't like it there is always a reason to refuse, and no one can change that. For those who truly love bitcoin, anyone who speaks ill of bitcoin will never change their mind. Therefore, we should not care too much about what other people think or do, but should only focus on ourselves. Always be steadfast with your choices and decisions, because only we know what we need.

DapanasFruit

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Quote from: kentrolla on October 01, 2023, 02:02:27 PM

1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

In many parts of the world, this is so true. Case in point is what happened in China where the government itself years ago banned people from owning and trading Bitcoin as well as crypto in general. China has millions of people who are really interested with Bitcoin but right now many are doing it underground or doing their thing in Hong Kong which is more crypto-friendly than the mainland. The government has the power to shutdown anything and people are always afraid of losing their assets be them digital or physical.

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Quote from: Bananington on October 01, 2023, 05:12:23 PM

Quote from: kentrolla on October 01, 2023, 02:02:27 PM

Feel free to share your opinion on how we can fix this.

Some of these challenges and obstacles to buying and holding on to bitcoins are challenges and obstacles that people just set up for themselves and use as excuses to why they have not yet invested in bitcoins. I am of the opinion that if someone really wants to do something, they will find a way to do it no matter the cost. People who really want to invest in bitcoins will ignore the government, plan themselves well to have extra money to invest in bitcoins, and they will also have a good strategy to buy.

This is a good answer, hodl doesn't entice them. They're other products like falling victim of "invest 1 to get 2" scam, that makes them happy. Barriers as these, can't stop a person interested in bitcoin from holding bitcoin. Low income earners have different priorities, not including bitcoin. Hodling bitcoin is not a bet, the small investor can't get higher rewards like the big investor. So, if the low income person finds out the little invested funds, won't yield enormous profits. I don't see any need, why they'll hodl bitcoin, if it won't skyrocket their earning capacity. Except hodling for fun. The big investor gets the most profit, that's why people are encouraged to invest with huge amount of funds. So, hodling bitcoin has little or no barriers, whatsoever. I'd say it's a personal decision. Different users, different reasoning and ideas. Yet it's obvious, a good percentage of ideas and thoughts of bitcoin is targeting huge opportunities. Only few participate genuinely and invest gradually. Hence, they omit these barriers. The high profit guys, seeking quick cash, worry about such barriers. After holding for months, with no positive results, they'll rush to ponzi scam. Despite not hesitating to quit bitcoin, they won't hesitate to blame it on bitcoin

D ltr

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Quote from: Ojima-ojo on October 01, 2023, 02:12:33 PM

First Bitcoin shouldn't be taken as a guaranteed short term profits investment, since Bitcoin is a highly volatile asset and pricing not guarantee to continue in a particular direction, so Bitcoin should be best taken as a long term investment that is why most Bitcoin holder take Bitcoin hodling as a long term journey and to achieve a successful hodling you need to allocate a 5 year holding plans before you set out for it.

One of the most important thing to do also is to make sure to have gather enough knowledge on hiw best to hodle Bitcoin and when to open a buy position to avoid jumping on while the price of Bitcoin is high.

It is true that Bitcoin is used as a short-term investment, the optimal profit will not be achieved as expected, by buying the lowest BTC and saving it 3-5 years will definitely provide optimal benefits right?

If you have BTC only for the short term, it is better to store funds in the bank, not in the form of Bitcoin

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Quote from: kentrolla on October 01, 2023, 02:02:27 PM

Feel free to share your opinion on how we can fix this.

Some of these challenges and obstacles to buying and holding on to bitcoins are challenges and obstacles that people just set up for themselves and use as excuses to why they have not yet invested in bitcoins. I am of the opinion that if someone really wants to do something, they will find a way to do it no matter the cost. People who really want to invest in bitcoins will ignore the government, plan themselves well to have extra money to invest in bitcoins, and they will also have a good strategy to buy.

Topic: Few reasons why people are hesitant to buy or HODL bitcoin/Crypto - page 2. (Read 312 times)