Topic: Trust in cryptocurrency? - page 10. (Read 1398 times)

It fully depends on where you are located or live. There are some areas in the world and also age groups that simply know less about cryptocurrencies in general and Bitcoin in specific. However, media outlets do talk about Bitcoin in many places of the world, but it also clearly depends on public interest. As we know public interest or awareness is raised when either something really bad happens or when  someone flies towards the moon with a rocket and jumps out of it in a space suit wearing the Red Bull logo. Whenever Bitcoin is stable and moving sidewards, you hardly read or hear anything about it in pubic media. But when Bitcoin goes nuts either way, the media is jumping on it and cannibalize on the topic in the most amateurish ways possible. It almost hurts to read and listen to what media outlets not educated on the topic talk about Bitcoin.

The presence of Cryptocurrency has changed people's view of finance so that over time it is likely that Cryptocurrency will become part of many people's lives, but so far bitcoin is the only Cryptocurrency that we can trust besides that most of it is fraud so be wise when you want to choose a coin to be used as a investment assets because not all of them are reliable, in the future Cryptocurrency will have a big impact on the world economy which can save people from recession.

the name bitcoin is now growing
known to many people and the main trigger in my opinion is because of the internet and almost everyone has cellphones, computers and so on which of course always has internet on it.

and on the internet there are lots of EXCHANGE advertisements and usually when advertising there is always the writing of buying and selling bitcoins so that way people will definitely know what bitcoin is, and finally people will search know what bitcoin is,
so I think bitcoin will become widespread and eventually people will get used to bitcoin.


but if our are in an area that is far from the city it is usually difficult to reach the internet, so in my opinion it depends on the condition of the internet network.

Mass adoption is possible when most countries legalise cryptocurrency.
It may also be that central bank digital currencies will encourage the adoption of popular cryptocurrencies.

First I would like to point out to you, OP. That the whole purpose of Bitcoin (and cryptocurrency) is to get rid of the need to "trust" as a whole. That is the reason Bitcoin is open source and so should be any wallet you are using to store your satoshis.

In my personal point of view, Bitcoin will continue to be relevant for many years and it will continue to gain adoption, and (ideally) that would mean less people will need to trust anyone or anything concerning their money. 

Of course, it would be naive to assume people suddenly would abandon centralized exchanges and buy Trezors in huge quantities, it is a process which is slow, but steady.

In terms of adoption bitcoin is doing well, it seems to me that some people out there want bitcoin to be adopted by everyone at a speed that is not realistic, if you take a look at other technologies like the internet, cellphones, gunpowder and cars you will see it took them decades to become widely adopted.

And this is not only because there were limitations at the time to implement those technologies, what happens is that people refuse to change and they only do it once the technology is incredibly convenient for them to use, so do not worry, bitcoin will eventually become widely accepted, it is just going to take a longer amount of time than the current predictions project.

I don't have problem with cryptocurrency because of Bitcoin that is while I am more relaxed about cryptocurrency holding Bitcoin for as long it is going to take the market to keep appreciate. We all want to be seeing profits so far that is while we need to get prepared for the  market to appreciate

We know that there's no way on knowing on what the future looks like on whats the  condition of bitcoins adoption and recognition on that point but if we do speak with the current situation then its not really that a
shocking thing that there are still people who arent really that knowing that much when it comes into its existence specially into those old people who are getting used to fiat which its not shocking or surprising.
But we know that recognition and adoption doesnt really stop which means in future years to come then it wont really be that shocking that people would be knowing it on default.
It is really just that now that people neither aware of it or not, but its not really that new and does depend whether they would getting involved with or not.

Why would you be forcing this technology to all people? Allow them to not engage if they are really not into it. Not all people are into investments and that is an enough reason. Especially to elders wherein they are most of the time not fond of digital currencies and things related with adavancement in technology. Even in the future, ofcourse there is a high tendency for more people to acknowledge Bitcoin and other cryptocurrencies as an alternative mode of payment but I won't be surprised if there will also be people who won't. It is all about preference. Some people are into saving and some are into investment.

If you can trust any other coin (better yet you shouldn't) you can always trust in btc as the number one true decentralized coin in the crypto space. It can also see it as the crypto communities number one choice.
And just so you know, the awareness of crypto is increasing on a large scale compared to what it used to be. here in my country, the awareness of crypto 4 years back was very poor but today, it has increased a lot, although the majority still clings to fiat and its poor service unfortunately.

When you talk about cryptocurrency or when people here the teem cryptocurrency, the first on the list to come to there mind is bitcoin and that doesn't come as a surprise. Given the fact that, bitcoin remains the pioneer currency and it's price appreciation which has created its mark in the space. Bitcoin is a familiar term amongst many with the ability to operate electronic devices and few that are still able to be very much involved in the societal activities. Showing an alpha B with dollar strokes to anyone and they are likely to ring up with the term, bitcoin but, they clearly don't know much about it. Why?
They are yet to se it for an investment opportunity and so, they play it safe.
I think the issue is, most part of our world are not ready for the big change cryptocurrency brings. We are still having network glitch and people of low status are much in the society but then, its a transitional phase and with that, we are making a lot of progress to gain the trust of the masses.

People will obviously be able to trust in Crypto day by day. Because already it has gained a huge popularity and trust among it's users. If any government accepts Bitcoin as a legal currency then it will be more trustworthy.

LoyceV has a very valid point. Before this forum and getting interested in Bitcoin, I couldn't care less about Economics, and I had no idea how fiat worked. In fact, I thought that currencies like that were still on gold standard, which hasn't been the case for many decades! I was very young, that's also true, but still, that's not an excuse, and I'm not sure how much I'd know about the traditional financial system without getting interested in cryptos and how they are different. So if people don't understand Bitcoin, it's quite natural, typical. I think more people will be aware of Bitcoin on some level in the future, and perhaps emphasizing that it's the kind of digital money which one can use and own without banks and which is also not issued or regulated financially by any authorities is more important than the current focus that seems to be on how much profit is to be made with Bitcoin if it reaches a certain price or how much one can lose if it doesn't.

Let me do some simple math here:

Bitcoin is about 14 years old now, and if you subtract 14 from 40 and 60, you will get 26 and 46, respectively, which probably means that at their 26 years, they were too busy fighting to exert themselves on something else and never cared what Bitcoin was, but at 46, they are now old and facing some family business or something else that matters and never care to take a look at blockchain technology because they feel it is something that may not be worth it for the future of their children (lol), just my opinion. I believe there were people who heard about Bitcoin in 2020, when the entire crypto market was really red, but they sluggishly declined because they thought it would not be worth it after all. But in 2021, after the price saw a great rise, those same people will say, "Oh, I was once told to give it a try."



It can all be classified as crypto. But specifically, I like Bitcoin more, and if one is dealing with altcoins, you can get into a big risk that can result in a total loss of funds, like with a project that was only developed to scam investors or a project that is not able to hit its hard cap or soft cap in their first token sales. can list on an exchange and also get delisted due to low liquidity. In this 21st century, we are now in the computer age, and people should really have it at the back of their minds and improve themselves towards the latest innovations. Crypto is one of the good innovations, and those who really understand it are making good earnings. The thing is, though, that crypto is not a get-rich-quick scheme, and one must be patient and persistent in learning it.

People should learn how to work smart and not get so stuffed up with work that it takes up all their time with nothing to show for all the stress. Up to date, I still envy one guy at my place; he's a freelancer, and this guy is really strapped for cash.

If the percentage of people around you that know about bitcoin is small, you can do something about it by trying to increase the awareness aout bitcoins, so people around you know about it.

For the younger persons, they can know about it but can be too lazy to find out more information on bitcoins and how it can change their lives for the better. For the older people they may see bitcoin as a thing for younger people and not people their age to be thinking about. You can help these persons by playing your part in bringing the proper information to them.

I know. And for sure, he thought that it was easy to achieve or earn what I had already gained in crypto-currency. That's why he regrets learning more about bitcoin sooner. He doesn't know the complex decision we must make and the risk we always take.

Whether real friends or not, it's expected that our friends or close relatives laugh or disbelieve what our doing. They will not acknowledge or celebrate with us until they can't see that we have succeeded. Like some parents, when their children take risks starting as YouTubers, some consider their children wasting time until they become successful. I still want to help this friend of mine to learn more about crypto-currency.

Until now the crypto world is increasingly popular among the people and they know that bitcoin is very expensive for now but they do not know how to get bitcoin to be able to invest, then they are not sure that the crypto world is very good for us to follow at the moment and can increase income, but for people who are already old it may be very difficult to understand the performance of the crypto world so they do not want to follow and learn about it, So those of us who are confident and can understand the crypto world then keep up with developments so that we can get greater profits.

Of course for those aged 20-35 years who know Bitcoin, because they see a lot of advertisements that cross every day. The ad is served by the exchange when the exchange continues to look for new users. I'm sure they will open every ad that passes on their homepage. But they don't understand how to get it. Another problem is that they are still afraid to try something new, especially since the exchange generally asks for the identity of the user. Bitcoin adoption is currently still very small even though the amount in circulation has almost reached its maximum limit. It's just that currently Bitcoin is held by certain people in large numbers. In my opinion, it will take another 5 to 10 years for Bitcoin to be in the hands of the general public, because most of today's Bitcoin users are those who live in urban areas and the millennial generation who are inseparable from gadgets every day.
When we talk about crypto, most people say Bitcoin, even though there are many other altcoins that are part of crypto. So we can assume that this cryptocurrency is not yet known by all circles of society. If everyone already knew, and believed in it, even crypto was important for the digital future. The next stage is just talking about how to use crypto as a means of payment.

We know Bitcoin and crypto today as an important asset, not as a means of payment.
Maybe some countries are already used as legal tender. Is it enough with just one or two countries?
I often make payments on several platforms using Bitcoin. One of them is buying a domain. Generally still using fiat. Even though making payments with Bitcoin is much easier than fiat. One of the advantages is that we have a record of transactions that we can see directly that are running.

There are still many people in the world who are not aware of cryptocurrencies. There are many people around us who don't know about cryptocurrencies but if they are asked something about Bitcoin they say they know something about Bitcoin. The reason behind their knowing this is that in various news media or social media, discussions related to Bitcoin are usually promoted more than cryptocurrency, so that even if no one knows about crypto currency, they know about Bitcoin. But in checking the depth of their knowledge about Bitcoin, I found that they can only say that Bitcoin is a very valuable coin, but they can't say anything about Bitcoin.  If Bitcoin is promoted like other things, I think everyone will have a good idea about it.

Younger are more familiar with crypto trading and investment because these days getting better job is very hard so they find alternative ways of earning, and crypto industry is very acceptable field in this era.

If a person starts crypto investment and get benefit out of it then his believe increases. So I think that as Bitcoin is a stronger coin and is enhancing in price year by year so therefore there is hope that crypto will be definitely productive way of cash. An older people have no information because they spend a life and in this life they find numerous ways of making cash but Younger people prefer investment rather than other jobs.

Gold is the first priority of older people for saving money so now the price of bitcoin is very successful and has make numerous people Millionaire that why new age people attract towards it.