Topic: The reason people do not want to invest in crypto - page 39. (Read 18952 times)
I think the major barrier is lack of understanding of the technology or network itself. This has been a lingering problem over time. Blockchain as we know it, isn't grandma friendly. It requires some practical knowledge of the technology. That's the real reason why noobs always cry about losses. That's because they don't know what is and what's not.
My opinion, many people do not want to invest in crypto because some reasons:
- Doubt about the market: Most of people who just know the crypto market will think that this market is untrustworthy because everything is digital and no have tangible assets.
- No understand technology Blockchain: only 5% - 10% know technology Blockchain that can change many field of the life in the future so they will not believe the crypto market.
- Fluctuate of the crypto market is too big: many coins in the market fluctuated more than 50% per day, this did everybody think that investing in the market is too risky.
- Doubt about the market: Most of people who just know the crypto market will think that this market is untrustworthy because everything is digital and no have tangible assets.
- No understand technology Blockchain: only 5% - 10% know technology Blockchain that can change many field of the life in the future so they will not believe the crypto market.
- Fluctuate of the crypto market is too big: many coins in the market fluctuated more than 50% per day, this did everybody think that investing in the market is too risky.
In addition with reasons noted above, I can notice also that many people have fear because the crypto volatilty and the market unstability, they dont want to risk their real money in such conditions. Some other people just have wrong and fake ideas about Bitcoin and crypto currencies in general and even they think that they are a sort of ponzi scheme.
I agree with you. People nowadays are afraid to take risks knowing that crypto is volatile and unstable. They have the fear of losing their money and they are afraid to experiences losses. I believe that enough education and information about crypto is what they really need. People these days always want permanence and assurance.
it seems that I can deduce from them and your reason is because of the very high risk that investors are afraid of the high risk so they are reluctant to buy or try to have cryptocurrency even though there are some people who invest in this bitcoin or cryptocurrency with large numbers are still scared.
The points you noted down are really good and i agree with your point of view. There are also many other reason people do not want to invest in crypto like People are scared and fear to invest in crypto because they have never heard some technology like this ad they have never used any kind of technology similar to this crypto and this is the major reason for people not to invest in crypto. Also because of this big volatile movement, people have already lost a big percentage of the amount and this is the reason they never choose crypto market as a place of investment. They would like to invest in Mutual funds, Stocks, and government bonds rather than the crypto market.
For me, the most major reason why people do not want to invest in crypto is because they lack education about. They thought it is a ponzi scheme and they are afraid to invest and take the risks. I was once like them and I did some research about it and I realized that it is a good investment.
Most common reason is its stability, most of the cryptos are not that stable so investing on them is really risky. So basically they fear that the money they have invested on these coins would be gone for nothing. And also one of the reasons would be ignorance, that's the most common reason too on why people does not want to invest in cryptocurrencies especially the elderly people.
If we have knowledge about scam and legitimate ICO then there will be no scammers around. We are all able to invest in crypto without hessitating that our money will lose.
While that to a greater extent makes sense, scam and legitimate ICO's aren't always that easy to seperate. It's not that every scam ICO is advertising itself to hand people over crazy bonuses if they invest in the first or second stage. Look at how cloud mining services are passing off their products, while in reality it is actually a legal form of scam, even when they are actually mining; they just rip you off in all possible situations. Another thing is that most ICO's, legit or scam, will eventually end up failing and going down anyway, so losses are inevitable in people's ICO investment journey. In other words, is somewhat of a gamble. Knowledge reduces your overall risk exposure, but it won't prevent you from falling for potential scams. Don't forget that scammers throughout the years became far more creative when it comes to hiding the shady nature of their intent.
1. Blockchain has a long way to go to be a practical solution
Businesses will not miss the opportunity until the technology demonstrates its scalability. However, this can not be proven in the real world until the companies make the leap and produce a concrete result, not an experiment. Moreover, not all industries will benefit from blockchain, while other industries may face a costly and time-consuming conversion process so they choose blockchain over a network. now available.
2. Too easy to join
The real concern with a low barrier to participation is that there is no way to ensure that this technology will not become obsolete for several months. This is another reason why businesses have not implemented blockchain technology. Why invest in a blockchain while only a few months later will have a better blockchain next generation? Replacing and upgrading can be costly and time consuming.
3. Very few tangible means value of crypto.
One of the biggest misconceptions with digital currency is its mass acceptance of tokens, meaning that they are successful. Unfortunately, using a virtual currency does not necessarily generate revenue or profit for developers behind the token. Furthermore, blockchain technology tends to hold long-term potential values, not the token itself. Therefore, buying into a token that does not actually acquire ownership in the base blockchain does not make sense to the investor.
4. Tax situation is a nightmare
Investing in the crypto algorithm means that you need to track the increase and decrease in capital for each transaction. Even using your token to purchase goods and services will also serve as a taxable service, in line with the Tax Administration's tax guidelines.
Still it is possible to finish a couple of reasons. One of the reasons is the fear of the unknown, that is, a lot of people still do not know bitcoin and blockade. Therefore, it is difficult for them to make a decision. Businesses will not miss the opportunity until the technology demonstrates its scalability. However, this can not be proven in the real world until the companies make the leap and produce a concrete result, not an experiment. Moreover, not all industries will benefit from blockchain, while other industries may face a costly and time-consuming conversion process so they choose blockchain over a network. now available.
2. Too easy to join
The real concern with a low barrier to participation is that there is no way to ensure that this technology will not become obsolete for several months. This is another reason why businesses have not implemented blockchain technology. Why invest in a blockchain while only a few months later will have a better blockchain next generation? Replacing and upgrading can be costly and time consuming.
3. Very few tangible means value of crypto.
One of the biggest misconceptions with digital currency is its mass acceptance of tokens, meaning that they are successful. Unfortunately, using a virtual currency does not necessarily generate revenue or profit for developers behind the token. Furthermore, blockchain technology tends to hold long-term potential values, not the token itself. Therefore, buying into a token that does not actually acquire ownership in the base blockchain does not make sense to the investor.
4. Tax situation is a nightmare
Investing in the crypto algorithm means that you need to track the increase and decrease in capital for each transaction. Even using your token to purchase goods and services will also serve as a taxable service, in line with the Tax Administration's tax guidelines.
The only reason why people do not want to invest in cryptk is the ignorance. All of the factors you've listed is the root of ignorance. If all people are aware on how cryptocurrency works and what will be the boon and bane of crypto in the economy and individual then we are not fear to lend our money to it.
If we have knowledge about scam and legitimate ICO then there will be no scammers around. We are all able to invest in crypto without hessitating that our money will lose.
If we have knowledge about scam and legitimate ICO then there will be no scammers around. We are all able to invest in crypto without hessitating that our money will lose.
1. Blockchain has a long way to go to be a practical solution
Businesses will not miss the opportunity until the technology demonstrates its scalability. However, this can not be proven in the real world until the companies make the leap and produce a concrete result, not an experiment. Moreover, not all industries will benefit from blockchain, while other industries may face a costly and time-consuming conversion process so they choose blockchain over a network. now available.
2. Too easy to join
The real concern with a low barrier to participation is that there is no way to ensure that this technology will not become obsolete for several months. This is another reason why businesses have not implemented blockchain technology. Why invest in a blockchain while only a few months later will have a better blockchain next generation? Replacing and upgrading can be costly and time consuming.
3. Very few tangible means value of crypto.
One of the biggest misconceptions with digital currency is its mass acceptance of tokens, meaning that they are successful. Unfortunately, using a virtual currency does not necessarily generate revenue or profit for developers behind the token. Furthermore, blockchain technology tends to hold long-term potential values, not the token itself. Therefore, buying into a token that does not actually acquire ownership in the base blockchain does not make sense to the investor.
4. Tax situation is a nightmare
Investing in the crypto algorithm means that you need to track the increase and decrease in capital for each transaction. Even using your token to purchase goods and services will also serve as a taxable service, in line with the Tax Administration's tax guidelines.
Businesses will not miss the opportunity until the technology demonstrates its scalability. However, this can not be proven in the real world until the companies make the leap and produce a concrete result, not an experiment. Moreover, not all industries will benefit from blockchain, while other industries may face a costly and time-consuming conversion process so they choose blockchain over a network. now available.
2. Too easy to join
The real concern with a low barrier to participation is that there is no way to ensure that this technology will not become obsolete for several months. This is another reason why businesses have not implemented blockchain technology. Why invest in a blockchain while only a few months later will have a better blockchain next generation? Replacing and upgrading can be costly and time consuming.
3. Very few tangible means value of crypto.
One of the biggest misconceptions with digital currency is its mass acceptance of tokens, meaning that they are successful. Unfortunately, using a virtual currency does not necessarily generate revenue or profit for developers behind the token. Furthermore, blockchain technology tends to hold long-term potential values, not the token itself. Therefore, buying into a token that does not actually acquire ownership in the base blockchain does not make sense to the investor.
4. Tax situation is a nightmare
Investing in the crypto algorithm means that you need to track the increase and decrease in capital for each transaction. Even using your token to purchase goods and services will also serve as a taxable service, in line with the Tax Administration's tax guidelines.
That could be some of the reasons but as far as I have observed, people refrain from investing in crypto mainly because on the lack of knowledge. Others think that crypto lacks on security due to it's high volatility and a very risky investment.
I totally agree on what you said but for me the main reason is the lack of security and they are scared because of the big up and downs they will loose alot not gain.
The one that I encountered was
1. Crypto investments are too volatile, sometimes the price moving is too deep, it's a very risky investment
2. A lot of scammed project, so many people already got scammed by the ICO, even if we mention that they don't do the research properly they will still blame crypto
3. There is a chance the government going to banned crypto, every government now has been put a lot of focus on crypto, because of a bunch of people using crypto for bad things, maybe the government is going to banned it
Not all people can accept the new things, so we can't blame them to not believe in crypto
Honestly one reason from your list is good enough to scare someone from investing. We can't blame if other people won't believe this blockchain technology because it is not often that you will find something like this to get your income from. It is hard for them to believe and it can be their loss. 1. Crypto investments are too volatile, sometimes the price moving is too deep, it's a very risky investment
2. A lot of scammed project, so many people already got scammed by the ICO, even if we mention that they don't do the research properly they will still blame crypto
3. There is a chance the government going to banned crypto, every government now has been put a lot of focus on crypto, because of a bunch of people using crypto for bad things, maybe the government is going to banned it
Not all people can accept the new things, so we can't blame them to not believe in crypto
Investing crypto will not be easy especially if you don't have patience. The volatility of the coins and the news which is mostly bad will get into our nerves and if you can't handle it, consider yourself loosing before even starting.
The main reason is that people do not want to take risks and waste their nerves, they are more important than health. The craving for easy money does not lead to anything good, in the end people lose everything.
All they hear in the media about crypto is either how bad it is being used in black market or how many scams are out there with ICOs, exchange hacks, wallet hacks and whatnot. I'm not surprised people are hesitant.
The real reason is that they are scared from the new. Like there were scared to invest in internet at first, for example.
And the other reason is, everyone's investment interest is lacking. They only focus on getting the money by working in the company and can be paid. They don't think christically to think of other ways to earn money. Moreover investing in bitcoin who cannot be seen by the invisible eye so that they will deride it. This is that happened in my country, maybe now the effect of cryptocurrency especially bitcoin has not been felt by the community, sooner or later they will regret it.
Because their price fluctuations can often buy high prices but sell at extremely low prices so some people are afraid of this market. and some scams about fraudulent projects and hackers scrounging their wallet.
I think a big reason is the general media, such as national or even local news channels on TV, have been talking about how it's this hugely negative thing. I know quite a few people who only get their news from TV and they almost universally think cryptocurrency is a stupid idea that will fade away one day. I personally think the media gets fed lies from people who are terrified of this technology replacing their industry, big banks. Just speculation, but the Chase CEO does nothing but publicly talk shit about bitcoin.
for me there are three reasons why they do not want to invest in crypto
1. they have not known crypto
2. they are not interested
3. they are afraid to invest after losses
1. they have not known crypto
2. they are not interested
3. they are afraid to invest after losses
I agree with you but I will add some reasons that I think why they dont invest in crypto. Maybe they heard a bad news or rumors about crypto and cryptocurrency is also unstable and risky investment but very profitable.
1. Blockchain has a long way to go to be a practical solution
Businesses will not miss the opportunity until the technology demonstrates its scalability. However, this can not be proven in the real world until the companies make the leap and produce a concrete result, not an experiment. Moreover, not all industries will benefit from blockchain, while other industries may face a costly and time-consuming conversion process so they choose blockchain over a network. now available.
2. Too easy to join
The real concern with a low barrier to participation is that there is no way to ensure that this technology will not become obsolete for several months. This is another reason why businesses have not implemented blockchain technology. Why invest in a blockchain while only a few months later will have a better blockchain next generation? Replacing and upgrading can be costly and time consuming.
3. Very few tangible means value of crypto.
One of the biggest misconceptions with digital currency is its mass acceptance of tokens, meaning that they are successful. Unfortunately, using a virtual currency does not necessarily generate revenue or profit for developers behind the token. Furthermore, blockchain technology tends to hold long-term potential values, not the token itself. Therefore, buying into a token that does not actually acquire ownership in the base blockchain does not make sense to the investor.
4. Tax situation is a nightmare
Investing in the crypto algorithm means that you need to track the increase and decrease in capital for each transaction. Even using your token to purchase goods and services will also serve as a taxable service, in line with the Tax Administration's tax guidelines.
Businesses will not miss the opportunity until the technology demonstrates its scalability. However, this can not be proven in the real world until the companies make the leap and produce a concrete result, not an experiment. Moreover, not all industries will benefit from blockchain, while other industries may face a costly and time-consuming conversion process so they choose blockchain over a network. now available.
2. Too easy to join
The real concern with a low barrier to participation is that there is no way to ensure that this technology will not become obsolete for several months. This is another reason why businesses have not implemented blockchain technology. Why invest in a blockchain while only a few months later will have a better blockchain next generation? Replacing and upgrading can be costly and time consuming.
3. Very few tangible means value of crypto.
One of the biggest misconceptions with digital currency is its mass acceptance of tokens, meaning that they are successful. Unfortunately, using a virtual currency does not necessarily generate revenue or profit for developers behind the token. Furthermore, blockchain technology tends to hold long-term potential values, not the token itself. Therefore, buying into a token that does not actually acquire ownership in the base blockchain does not make sense to the investor.
4. Tax situation is a nightmare
Investing in the crypto algorithm means that you need to track the increase and decrease in capital for each transaction. Even using your token to purchase goods and services will also serve as a taxable service, in line with the Tax Administration's tax guidelines.
As far as I know, massive adoption is yet to come. It is why most of us are still skeptical about cryptocurrency, as it is very high in volatility that could cause a huge crash or bull run on top of the tax nightmare. Yes, we know about it, but I think we have to look at the positive side of it that would benefit us in the long term. To be honest, I am in favor of the crypto regulation where we all need to be protected from fraud, just like what the Savedroid did with their unprofessional PR stunt.
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