THE VIEW OF SOME PEOPLE OVER BITCOIN - page 2.

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Quote from: Sidra101 on May 03, 2023, 12:31:24 PM

Some people don't see Bitcoin as a normal currency and think it's too risky because its value can change a lot. They also worry that it's used by criminals for illegal activities like money laundering. However, other people think Bitcoin is amazing because it's different from traditional currencies and could change how we use money. Nobody knows for sure what will happen to Bitcoin in the future, but people are still talking about it and interested in it.

If we are to compare the money launder through cash and the money launder in Bitcoin, I'm sure that cash will win by a wide margin, so the idea of Bitcoin is used for money laundering is a misplaced discussion that is not necessary; also the opinion of people doesn't stop bitcoin from doing what it knows better. It will grow regardless of what you think, where you come from, and what societal position you hold. Instead of listening to what they say negatively about what Bitcoin is doing, you should rather don't give attention. If you want to buy Bitcoin or planning on how to buy, do and ignore the negative sentiments.

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Quote from: Sidra101 on May 03, 2023, 12:31:24 PM

Some people don't see Bitcoin as a normal currency and think it's too risky because its value can change a lot. They also worry that it's used by criminals for illegal activities like money laundering. However, other people think Bitcoin is amazing because it's different from traditional currencies and could change how we use money. Nobody knows for sure what will happen to Bitcoin in the future, but people are still talking about it and interested in it.

Those people that worry about bitcoin being used for criminal or illegal activities don't really understand bitcoin, and one of my questions to such people will always be..

In what year was bitcoin born? - 2009
Before 2009, weren't there criminal and illegal activities carried out in majorly every part of the world?

Believing that bitcoin is used to finance criminal and illegal activities is the wrong mindset about bitcoin, without bitcoin many year back, crime has been, and if for instance, there is no bitcoin at the moment, crimes will still happen, this is something people should understand and stop worrying over things that are not important.

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Quote from: Sidra101 on May 03, 2023, 12:31:24 PM

Some people don't see Bitcoin as a normal currency and think it's too risky because its value can change a lot. They also worry that it's used by criminals for illegal activities like money laundering. However, other people think Bitcoin is amazing because it's different from traditional currencies and could change how we use money. Nobody knows for sure what will happen to Bitcoin in the future, but people are still talking about it and interested in it.

I think it's actually quite reasonable because indeed in this case the view of people about bitcoin which is indeed not a safe thing is something that really cannot be blamed because we know that this is a risky place so indeed when saying this is a safe and comfortable place it is clearly a mistake because there is no such thing in bitcoin considering we have to be prepared to lose for the worst possibility.

On the other hand, when talking about actual crime, things like this are often discussed, not even now, but things like this continue to be discussed over time and the answer remains the same. Bitcoin is just an object and greedy human nature makes this a means to gain profit for them. But apart from that, what is wrong is clearly not the bitcoin, but we have to reflect that it is humans who make this look bad.

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Quote from: The Cryptovator on May 03, 2023, 05:38:02 PM

When you dislike something, you can present a thousand reasons against it. Conversely, when you favor something, you may provide a plethora of reasons to support it. This is also true for Bitcoin. At times, a few individuals may oppose Bitcoin, resulting in a multitude of reasons against it. The most common excuse is its volatility. However, we acknowledge and believe that Bitcoin's volatility is what makes it the most popular. Holders and traders can benefit from this volatility, which is why they prefer Bitcoin. I am not concerned about other people's opinions about Bitcoin, as I have a thousand reasons to like it.

Same with my thought. At end of the day, people have always negative thing to say at a certain thing that they dislike the most. But let them worry, while we continue to explore and benefit from bitcoin. If they have something to say against bitcoin, I guess we all have some certain reasons too to like about bitcoin and it’s only us who are able to notice and benefit from it. The important here is, we know that bitcoin has great potentials to keep us benefiting in the future, so we should keep on hodling and protecting it for our own advantage.

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People's opinion varies a lot about Bitcoin, some people think Bitcoin is a gambling game while some think that it is a Ponzi scheme, for example, investing money getting rich, and coming out of it. For me, bitcoin is a type of cryptocurrency that beyond all odds serves as a great investment opportunity if wisely done.

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When people think that Bitcoin is a risk, I don't think it's a bad thing. Because bitcoin does carry some risks. And they are not minor risks, they are major. So it is obvious that many will think that it has risks. But when people say that Bitcoin is bad, then I have some issue with them. A thing is only bad when we make it bad. As long as you use it with a good intention, it is good.
There are good people and bad people. So the difference between the opinion over something will always be good or bad. We can not change that. They way we use it, it will appear the same way to us. Don't overthink about it. When Bitcoin will gain success, the ones with negative opinion will be the first one to join it. It's just a matter of time.

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Quote from: Sidra101 on May 03, 2023, 12:31:24 PM

Some people don't see Bitcoin as a normal currency and think it's too risky because its value can change a lot. They also worry that it's used by criminals for illegal activities like money laundering.

A lot of people see Bitcoin like this, especially those who are not really knowledgeable about Bitcoin. They probably heard about Bitcoin but aren't really into it because of these thoughts and images they have. Well, it's true though... Bitcoin is risky and can also be used for money laundering, but Bitcoin isn't really just about that. Some people only knew negative things about Bitcoin that they don't want to be involved with it. But this kind of stigma will change once they really get to know what Bitcoin could bring.

Quote from: Sidra101 on May 03, 2023, 12:31:24 PM

However, other people think Bitcoin is amazing because it's different from traditional currencies and could change how we use money. Nobody knows for sure what will happen to Bitcoin in the future, but people are still talking about it and interested in it.

Like everybody of us here think Bitcoin is amazing because we know what it can do, and how we can use it. Others probably also thought negatively about Bitcoin at first, but once they get a deeper understanding, that negative thoughts can easily change.

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Bitcoin's volatility is a challenge to the idea of Bitcoin as a replacement of fiat, but not to the idea of Bitcoin as another legal tender alongside fiat (like in El Salvador). As long as there's a way to set prices in something relatively stable, Bitcoin can be comfortably used for payments, adjusting the amount based on volatility. Moreover, fiat isn't stable everywhere, and hyperinflation, which is a majro problem in some countries, poses a huge risk to using fiat and to keeping savings in fiat, and yet people do that anyway, even when fiat loses more value proportionately per year than Bitcoin. Not to mention that Bitcoin is likely to eventually recover, while the only hope for such fiat is that it will keep losing value, but at a smaller rate.

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Quote from: cydrix on May 03, 2023, 12:36:17 PM

Bitcoin is a speculative asset that is too unstable and dangerous to be trusted as a means of trade or a store of their wealth.

That's absolutely and technically correct. To use it as a store of wealth may be somehow risky as no one can predict what the price would be in time of need. Every investors know this and have always invested the amount of money they can afford to loose without any form of emotional breakdown. Which ever way anyone sees bitcoins depends on their knowledge of it. With the current awareness of Cryptocurrency around the world, it will definitely be impossible to destroy it.

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Quote from: lonerangerh on May 03, 2023, 07:51:36 PM

Quote from: Sidra101 on May 03, 2023, 12:31:24 PM

Some people don't see Bitcoin as a normal currency and think it's too risky because its value can change a lot. They also worry that it's used by criminals for illegal activities like money laundering. However, other people think Bitcoin is amazing because it's different from traditional currencies and could change how we use money. Nobody knows for sure what will happen to Bitcoin in the future, but people are still talking about it and interested in it.

You are correct, there are individuals who are skeptical about Bitcoin and view it as a high-risk investment due to its volatility and association with illegal activities such as money laundering.

However, there are also those who recognize Bitcoin's potential to revolutionize the financial industry and believe in its decentralized nature. The fact that Bitcoin is not controlled by a central authority and its transactions are secured using encryption technology is a major appeal to some people.

First of all those are people who doesn't believe anything other than fiat money. First of all they want the currency to have the paper apperance and want to feel its physical presence. They never think the advancement happening around, they stick to the old days.

Part of people who have well understood the reality and the need for technology is the reason for the success. At times the influencers try to make some impact over the market. Those used to happen to some extent, beyond which it is the market that function on its own.

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Quote from: Sidra101 on May 03, 2023, 12:31:24 PM

Some people don't see Bitcoin as a normal currency and think it's too risky because its value can change a lot. They also worry that it's used by criminals for illegal activities like money laundering. However, other people think Bitcoin is amazing because it's different from traditional currencies and could change how we use money. Nobody knows for sure what will happen to Bitcoin in the future, but people are still talking about it and interested in it.

You are correct, there are individuals who are skeptical about Bitcoin and view it as a high-risk investment due to its volatility and association with illegal activities such as money laundering.

However, there are also those who recognize Bitcoin's potential to revolutionize the financial industry and believe in its decentralized nature. The fact that Bitcoin is not controlled by a central authority and its transactions are secured using encryption technology is a major appeal to some people.

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Such an mindset is commonly seen around. Those are people who doesn't want to take risk and they prefer to be on the safer side. Such people need to experiment it, but they spread words as if like they've used it. Never make any statement positive, so whenever we come across person who is spreading negative about cryptocurrencies we should understand he had made some mistakes and lost. If not he wasn't able to hold it, which caused him loss. We need to understand what the reality and be part of it.

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Well people who think or say that bitcoin is mostly used for illegal or nefarious type things, typically don't have a single clue about bitcoin and how it works. They just tend to say this because they don't like change. They don't like the idea of traditional fiat currency being replaced.

I believe that bitcoin can still fully be used as a currency, and sure it's volatile but it's going to take time to level out, and I think it will.

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Quote from: Sidra101 on May 03, 2023, 12:31:24 PM

Some people don't see Bitcoin as a normal currency and think it's too risky because its value can change a lot.

It is normal for some people not to see Bitcoin as a normal currency because BTC was indeed not a normal currency for it is a futuristic currency and they will always hate it due to its volatility in price because they never understand the benefit.

Quote from: Sidra101 on May 03, 2023, 12:31:24 PM

They also worry that it's used by criminals for illegal activities like money laundering.

There's no currency in the world that's not used by criminals to carry out their criminal activities. Besides, a video surfaced yesterday on Skynews where some couriers service agent was arrested for laundering fiat currency for the drug lord.

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Quote from: Sidra101 on May 03, 2023, 12:31:24 PM

Some people don't see Bitcoin as a normal currency and think it's too risky because its value can change a lot. They also worry that it's used by criminals for illegal activities like money laundering. However, other people think Bitcoin is amazing because it's different from traditional currencies and could change how we use money. Nobody knows for sure what will happen to Bitcoin in the future, but people are still talking about it and interested in it.

People saying bitcoin is used for illegal activities are just looking for ways to kill bitcoin, and it’s not possible for them again, I will want anyone to tell me the illegal activities which bitcoin is been used for and fiat currency is not used for it. Any illegal activities that bitcoin is used for started even before bitcoin was created and they used fiat currency for those illegal activities then. Lots of people that are rejecting bitcoin currently will be surprise when they see how bitcoin will be performing in the future, nobody can say anything that will kill bitcoin m, it will only reduce the price. They way lots of people have been adopting bitcoin currently, let’s see what will happen in the next few years.

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I would even say that there are 5 types of attitudes towards BTC:
1. Denial.
2. Scepticism.
3. Interest.
4. Confidence.
5. Bitcoin evangelism.

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Those who made dollars with Bitcoin, love it. Those who missed the chance, they hate it. It's as simple as that.
If you think it will go up and will be a great future investment, you buy it. If not, you don't. You regret.

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Quote from: Sidra101 on May 03, 2023, 12:31:24 PM

Some people don't see Bitcoin as a normal currency and think it's too risky because its value can change a lot. They also worry that it's used by criminals for illegal activities like money laundering. However, other people think Bitcoin is amazing because it's different from traditional currencies and could change how we use money. Nobody knows for sure what will happen to Bitcoin in the future, but people are still talking about it and interested in it.

Yes for sure, Bitcoin is not like our normal currency issued by bank, and I don't see any reason why people should see it that way, because both are quite different both in usage and functionality, because just as our normal currency, also known as fiat is centralized and controlled by the government of a nation, Bitcoin on the other hand is a decentralized digital currency not controlled by anybody, unique and has limited supply.
While secondly, that people use Bitcoin for illegal activities does not mean Bitcoin on it's own is bad, and the future of Bitcoin is bright, of which I will love to advise that if you have any funds you intend to invest for like 5 - 10yrs, you should rather invest it in Bitcoin rather than fiat that will be affected by inflation.

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Quote from: crunck on May 03, 2023, 06:32:21 PM

No one is wrong in this case. To be fair, bitcoin is actually very volatile so using it as a currency is difficult, volatility is only relevant when we talk about investing. But it solves some problems that fiat doesn't. Such as cross-border money transfers without taking too much time as well as reducing costs for users.

and when it comes to the notion that btc is used by criminals, then it is just like any fiat-based currency where criminals are also using it. education is the key for most newbies in this market to be acquainted what is crypto really is.
if they will learn more about this market, i would say, they may possibly change their perspectives towards this market. remember, fiat currency is still the most used in illegal activities. so people should not be too hard with crypto on this aspect, this is like another currency where they can use for their fraudulent activities. media sometimes is highlighting the negative side of crypto, they forgot there are other benefits when they use it.

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No one is wrong in this case. To be fair, bitcoin is actually very volatile so using it as a currency is difficult, volatility is only relevant when we talk about investing. But it solves some problems that fiat doesn't. Such as cross-border money transfers without taking too much time as well as reducing costs for users.

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