Topic: The FUD of Bitcoin. (Read 218 times)

Generally, I would say that for anyone to invest in Bitcoin it must not seek for public opinion to do that as not to be mislead by negative information from others. Undoubtedly, paying too much attention towards news and waitin other people dey talk fit make person wey no get in own decision and conviction about Bitcoin to loss courage, another important thing to do as to reduce fud is to invest from disposable income after taken of whatever might have been considered to be basic needs, such that you will not be worried over things that should have caused fud because you are only dealing with what you consider to be a disposable income.

Fud isn't a common stage in a newbie's life in term of investing in Bitcoin,the reason why I said such is because whosoever that has the aim of investing in Bitcoin would carryout his/her research and wouldn't be deceived by misleading informations.Bitcoin has gone too far to be called scam,those people that call Bitcoin scam have no clue about Bitcoin.
Believing and trusting the process can also help reduce FUD in the crypto ecosystem.Most folks don't trust the process because they've been scammed online with ponzi schemes.Ponzi schemes are always get rich quick scheme, let's always take note that nothing comes so easy without hard work and commitment.Few weeks back an unknown person messaged me to deposit #50k to get #200k,when I saw the message I laughed because I know their tricks and I can't be fooled.Many people have fallen victim to online scam(ponzi scheme) because they believe in get quick rich scheme and have no clue on Bitcoin that it's not a get quick rich investment and also not a scam project.
Stop believing in clickbait, clickbait is a misleading headline that tends to draw the attention of people,there are lot of clickbait on social media platform like YouTube,I saw a clickbait about Bitcoin that it will crash soon,how on earth will I believe such when know those scammers out there want to paint Bitcoin black and promote their ponzi scheme.

Being realistic, FUD is an exhibition of investors with the thoughts they they might lost their funds, this is a usually occurance of when invested. Definitely it is the arouse of feelings not being able to afford their lost at a possibility.

I will address any one who has not owned even a fraction of Bitcoin as a stranger in the industry and the doubted thoughts and the emotional lather reconcilation is always a good tool to settle upon and take the dare move to Invest their funds with the believe that ... Anything can happen and ready to accept it as a norm even when invested on other opportunities.

Perhaps, the government in particular has already created fumes by which the people becomes a doubt of Bitcoin after being sentimental with the initialization roles of Bitcoin being a decentralized technology.
Also, the people believe more of what they can physically feel and touch but if which Bitcoin is strickly on a digital note.

So apparently to suchin doubt persons they fears of whom to hold responsible in a possible situation of loosing their funds.

All these one no be correct reason for person not to wan invest in BTC. All these coins wey we dey see wey dey centralized, if spoil wan sub, e no go hard Dem. BTC decentralized system make am no dey possible for just anybody to thief your money except person wey know you, come know where you for store your key. As long as you play safe and take this security matter serious your coins go dey safe.

Again, BTC no get competitor. No coin go fit beat am for market as for now. All other coins na small boys for where e dey so we no supposed still dey fear for that kind matter.
Government fit do anything wey Dem wan do. Highest, Dem go commot the conversion of BTC to fait method wey be centralized exchange from the country and place ban. But then, if you wan still dey buy your BTC on the low, u fit still dey run and for decentralized exchanges, no body go even know.

Those kind FUD wey follow bitcoin gum body for early days when Satoshi create bitcoin don disappear finish na. People no dey think say bitcoin na scam now, many people don wise up. Wetin dey fear people now na the scammers wey dey for the cryptocurrency industry. If you no wise for the industry, dem go use bitcoin put for front, then come totally reap you make you for think say na bitcoin do you.

So, the government no gas do anything to help bitcoin because dem no go fit do am. Dem dey even perceive bitcoin like enemy. Na internet don dey open everybody eyes so, with small time, everybody go understand the importance of bitcoin.

Wetin I understand about this fud happening to people about bitcoin be sae, they are not properly lecture about bitcoin. Our people say that, once you're not informed about something, you are  deformed about it.

However, all these wrong mentality na because many are not properly informed about bitcoin, and how our government or some woro-woro people turned bitcoin to be as a way siphon people money makes it harder for some people to kukuma give in bitcoin. But thanks to this mining of coins with phone that comes into existence of recent. That one on its own don give million of people the need to d believe in cryptocurrency sae, it's the future to financial breakthrough for them since work no kukuma d for everyone.

Gone are those days person go say bitcoin or crypto space na scam especially seeing how people choose bitcoin as an investment choice or rather people still make money from airdrop ete, the only fear here I see is when people try to generate fear on others. I still remember when crypto adoption saga happen for this country and I read one news when bankers and government advice citizens to be careful not to lose their money when trying to invest so it's better they withdraw and save using the bank, onlv like this go fit make newbie commot mind for bitcoin investment. Let's just say anyone who have not gotten bitcoin knowledge will easily fall and the best prevention is learning first before investing.

I want to relate this to the bubble talk that has been on for long. This na one major factor wey still dey make new comers dey think say their money go waka especially wen other investors dey spread virus give them about bitcoin. Wetin I mean be say when price dey drop, most investors dey feel bad about am and so them dey lose hope say their money don waka and dem go dey feel bad when dey discuss their bitcoin investment to intending investors. However, I think this is a defunct feeling wey no dey go away easily among bitcoin hodlers wey never get experience and so naturally it contributes to further fall of price until bitcoin touch major support line and begin to increase again .

We don't need the government approval for the fud about Bitcoin to be cleared, we only need time and with time, everything will be straighten up. People talk bad about things they don't understand. Bitcoin isn't the only innovation that has been met with fud and all sorts of lairs. With the rise in adopting, the fud will all fade away. The bad things being said about Bitcoin has reduced because people are beginning to understand better.


What's the fud in staking coins? That you're not in control of your Bitcoin as such you don't own any Bitcoin being kept with a centralized platform isn't a fud but a reality that you have to work on and encourage others to be self constodial . Fud are usually lies that aren't true but being spread to drive down the sales of Bitcoin or any other crypto being targeted.

I don't think there is any reason to persuade anybody to invest in Bitcoin because that would be financial advice. If someone asks "What if them carry my money run", it simply means that they don't understand how Bitcoin works (yet). I think the goal at this stage is to make them first understand what Bitcoin is about.



Both of these are true. Governments from around the world have all tried to stop Bitcoin from becoming a global movement but all of those attacks are now a thing of the past because they have all failed.

Many traditional bank do spread FUD to their costumers to avoid losing dem because dey no say if people know how bitcoin dey work dem go go back to using it.many bankers don't want to talk about it sef ,u as a beginner una know say some people no to trust all that online stuffs so dem go even carry dem self go ask bank worker thinking say he know beta about it and that banker go dey tell dem all the negative effect without even telling dem one positive effect,so dem go kukuma feel discourage about doing it.   
    But that was before because now people don understand so dem no dey believe those kind talk again.now people dey research on their own and still dem get fear about investing ,i be dey think say nah because dem no get proper knowledge on how it work that why.
 By not depending on anyone for information and making up your mind and being ready to risk it people will kill bitcoin FUD because there is a saying that who is not ready to risk is not ready to get rich.

You don talk am as e be my brother. No be today e start and no be today e go stop, people go must talk against anything good. E go shock you to know say e get people wey dey cash fun by condemning anything wey fit help people, their own be say make them spoil am make e no for benefit people wey suppose use am. This na why e dey very important make person open eye select who him go listen to make e no come dey take advice from negative people we no mean well for am. People wey dey listen to fud too na mostly people wey no know how well Bitcoin fit help them for now and the future.

Your solution are looking promising but I see that not all this solution will be implemented. First of all the regulations, government aren’t after regulating bitcoin they just want it gone because they think that regulating bitcoin won’t still eradicate fully the decentralization that people enjoy from using it the government doesn’t want anything decentralized, they want to control it and it is hard to do that with bitcoin.

As for adoption process I think it will be a gradual process as the advantage of using this new technology comes forward it will bring in many people into it, this one will not be too influenced by any body but it is process of it self. Look at the way cashless policy is being used now.

I think the issue of educating or advocacy for cryptocurrency is the only  and most viable option to eradicate bad narrative of it, we all the early adopters now need to educate those that wishes to learn on how it is good

The narrative that people get that cryptocurrency is a get quick rich scheme will play a role in making people be in FUD when it comes to investing in cryptocurrencies. A newbie without the knowledge of the market can be told to come and invest and make millions of naira in crypto, but failing to understand that it doesn’t work that way and you’ve to be patient enough to make that happen can make them lose interest in it if they fail and lose all of their money. This can happen in most altcoins and without knowledge, they can just generalize it on cryptocurrency entirely without knowing they’ve done the wrong investment.


Investment in bitcoin has been proven to be worthy of you’re your own keeper. When you trade with centralized exchanges to keep your money, you’re at risk of losing everything but with a decentralized wallet well secured, no one can run away with your money.


This is actually true and without a good policy to make the use of bitcoin and cryptocurrencies convenient for the public, they can easily feel not interested and feel pressured not to even give it a try or even fear the punishment enacted on people that trade it.


This competition cannot be stopped, when you see someone in the same business with you, you’ll try everything possible to make their business not thrive ahead of yours. You can either chose to do it legally by showing to your customers the importance of using your products ahead of other competitors, and do it the illegal way of sharing propaganda against them which is what the banks are up to with bitcoin.

The FUD is everywhere and it's not gonna stop or reduce anytime sooner rather  it will keep on increasing. It's  simple, the government sees what the y won't  be benefitting from and what do you think they will do ?? they will have to destroy it  no matter what and in the case of Bitcoin, it's a decentralized  digital currency which have no owner, that's where the major problem lies at... no one to hold for it , which is why they have to find a weapon to do that and FUD seem to be their  weapon  not perfect but can be strong psychologically. Thus it's a good idea letting people know about it in the first place ....
Also, we have market manipulators also playing their roles trying promote FUD in the market but I guess with more awareness everyday  people will continue to know more about the psychological weapon.

with how far we've seen Bitcoin come and considering that it has experienced volatility in different forms, FUD about Bitcoin shouldn't bother one at all. If you're investing in Bitcoin and have a portfolio that comprises of different altcoins, then it's possible to experience some level of fear with those altcoins since most of them don't quite do well in the long run but if you're strict on Bitcoin investments, you can comfortably become calm knowing that as it stands the most likely worse thing that can happen to Bitcoin will be that it will experience some correction of which it's proven to bounce back after those correction.

The government has set out a lot of regulatory framework that was supposed to affect Bitcoin negatively but such didn't stand the test of time In the long run, the naive and newbies that are just new to investing in Bitcoin and that haven't done some basic research to know that the decentralized nature of Bitcoin makes it almost impossible for the regulatory decision of the government to have effect on what becomes of Bitcoin. Staying updated on a forum like this and getting the needed advice and guidance from experience investors will go a long in guiding one when fear uncertainty and doubt sets in.

Bitcoin do not have a competitor, and it can never have a competitor, because it is unique and will always remain unique, because it is only people who do not understand this concept that will compare Bitcoin to altcoins, it is totally different in all ramifications (i.e volatility, usefulness and influence on the global economy).


Yes, it's true, but all these kinds of excuses only boils down to lack of proper knowledge about what Bitcoin is, how it works, and best measures to approach it as a new investor, because inasmuch as it is a proven digital currency for over 14yrs, as a new investor, starting with an amount you can always afford to lose is always the best practice, of which with the help of some exchanges like "Remitano", people can now invest with Bitcoin with as little as $2.

looking at your solutions, they aren't a bad one but then aspect where government needs to be involved will have to be faced with some limitations of which if not considered, i think the freedom we were supposed to enjoy with bitcoin will be tampered with but then if you put into consideration the issue of adoption, its a key factor to getting certain personalities and organization consider bitcoin as something they will want to invest in because if its not done in that light, then literally, it will be a challenge for some persons to trust bitcoin enough to want to invest. the opinion or the investing concerns of these person may not be all that bitcoin may need to thrive but its goin to in a way help the growth and size of the bitcoin pool. if government adoption of bitcoin is in place i think that may be all that bitcoin may be needing and not much of the regulatory aspect.

This actually remind me when I started getting into crypto, I would ask my guy some stupid questions like, if I buy Bitcoin now, and I wan sell, who go buy from me, then there was nothing like p2p. If I lost my pk, then my money don go like that? something unnecessary go just dey bother me, untill you don but your two legs into crypto and see am say na easy something.

Normally, FUD na wetin must come to newbies when you wan start crypto, no how you wan run from am, e hit everybody I swear.

When it comes to investing in Bitcoin there is always a FUD ( Fear, uncertainty and doubt),

Bitcoin has proven to us over the years that it is a coin worth investing in, Most persons still doubt the capability and authentication of it, most persons thinks it is a Ponzi scheme or bubble,  according to my research I found some reasons people still doubt Bitcoin which includes

1. Competition in the crypto space can increase FUD among investors
2. Bitcoin's decentralised nature, because I once talked to a friend of mine about a possible investment into Bitcoin but he was like if them run with my money who I go hold?. So stuffs like that can cause FUD in Bitcoin.
3. The government of the country can also make people doubt the potential of Bitcoin, with the implementation of anti-bitcoin policies and regulations.
4. Traditional banks may spread FUD out of fear of loosing out of the market to crypto Bitcoin due to people's continual interest in Bitcoin or other crypto currencies.

Some solutions to FUD in Bitcoin includes.

1. Clear and supportive regulations by the government
2. Rising adoption of Bitcoin can help eradicate FUD in Bitcoin
3. Educating ourselves with the accurate information will give no room for false information and misconceptions.


So putting all this in mind FUD can be caused by all this, and it's very important to keep ourselves updated through researches to avoid any form on FUD when it comes to investing and staking coins.