Topic: Trust in cryptocurrency? - page 11. (Read 1398 times)

Cryptocurrency has gained popularity due to its decentralized nature, faster and cheaper transactions, greater privacy and security, and the ability to operate globally. Although many people are still unaware of it, the number of knowledgeable people is growing. However, cryptocurrency becoming a normal part of people's lives will take time and will depend on factors such as regulatory frameworks, technological advancements, and public trust. Trust is particularly crucial for cryptocurrency as its decentralized nature means that it is up to the users to ensure its security and stability. If cryptocurrency can demonstrate its reliability and security over time, and if governments and financial institutions adopt it, then it is likely to become more mainstream.

That's already happening in Bitcoin: you don't have to understand how it works to be able to use it.

Much depends on the country in which you live and it is important whether the government and the banking sector are loyal to the cryptocurrency. The recognition of the cryptocurrency should come from the enthusiasts themselves who will create projects and various startups in your country,then more people will learn about the mechanisms and terminology of the cryptocurrency itself.Just like that people won't know unless there are more mentions in the local news.

That's a good point of view. I must ask about that. But I think not many will know the answer to this question. But the other thing is, people, even if they don't understand where money comes from, use them, and it's ok with them. I wonder if the same will be happening with BTC or other cryptocurrencies. As they say, knowledge is power. Not all of us must be winners.

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People will always talk. Most of the time, it comes from jealousy and the fact that we take actions to achieve something.
In general, people don't like to see how others succeed.

What I suggest from my experience is to "dream big." Don't let anybody tell you what to do. And if they laugh or are not supportive, they are not real friends. So don't take time to bother about them.

Focus on what makes you feel good.
And there have been many times in my life when I tried something and then abandoned it because it didn't work. But I did not give up. People learn from every experience in their lives. We gain knowledge, and the next time we do something, it may be better and bring us profit.


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Sooner or later, people around you will eventually be curious about it once they witness the difference in our lives after learning about crypto-currency.

Last month, my friend said he regrets that he laughed when some of our friends talked about me and that I'm busy learning or accomplishing something in crypto-currency. He thought I was wasting my time because, in the last few years, the name of bitcoin and other crypto-currency is constantly involved in the scam in Facebook page groups.

Well, the truth is that many individuals have heard about Bitcoin as it usually appears on social media but they don't have time to know more about it because of lack of interest. We can't blame them either nor these old guys out there as they are no longer have the interest to invest.

Trust can't be build instantly but this can just be found if they fully understand crypto. But the question is when if they have in their the worries and afraid to take risk, and much more if they don't have the reason to know it - interest.

The biggest difference of young with older people is, the young one has access to any information where you can get any news and stories worldwide just from your device. Mostly people know about bitcoin because of its ATH record, when every news station in all countries mentioned bitcoin every day, and then some big names decided to join the train to invest in crypto. It's a thing that older people don't care, which they only just want to enjoy their retirements.

Talking about trust in cryptocurrency, Switzerland and some countries already take a further step for that. It takes time, but mass adoption is not an impossible thing.

Bitcoin has become a global discussion but frankly speaking it's still something a lot people don't know, as of 5 years ago in the area where I lived, when I talk about cryptocurrency, nobody seems to understand what I'm talking about coz I knew about Bitcoin early enough because of MMM ponzi scheme. But in the present times much more people are coming to know about bitcoin but with different perspectives. Some see bitcoin as scam because of the scalability, some youths see it as a means of defrauding tool because of the decentralization and the older generation will never adopt it because they want to have paper money.

These things already happen in Europe. In my country, the government is trying to get people to get rid of paper money, by adding higher fees to their credit cards. Eg. you need to make at least 5 transactions per month using a credit card; if not, you will pay a higher fee. I even heard about situations that have place in Sweden (if I am not mistaken) when the government sees where families with children spend their money. And if they saw there were a lot of transactions for alcohol, they sent a child care worker, to see what the situation was at their home. And it all leads to it. My big concern is the fact that not many people realize that.


Here, I don't agree with you. I would say our privacy is limited, BUT - if you do your best, you can hide some of your actions and remind anonymus. Pay in cash, don't share your location with Google, and use a VPN, for example. When it comes to money that comes from crypto, I can only refer to how it is here, where I live. From the money that I earn in exchanges and there is KYC, I need to pay tax. But if I have some other money, that is not related to my (aidrops or exchanges that don't require KYC) I can withdraw this at an ATM. Some amount of money, like 1,000 euros per transaction and 15,000 euros per person per day and this is without KYC. And its up to me if I will reveal the money.

I don't think that people gaining trust in cryptocurrency is what matters.

To me, it is people learning how to use it, what it is, how to trade and take risk.
If these matters can be met, then I see no reason why people won't trust cryptocurrency. Also, more forums like Bitcointalk should be exposed to the public which they can learn from .Then this will build up peoples trust in crypto as they will get to learn faster and easily.

I have a different suggestion: ask the same people if they can explain (fiat) money to you. Even better if you start: please explain where money comes from. Most people have no idea how it really works, but strongly oppose and even deny reality.

To quote Henry Ford:
This is so true, unfortunately! I more and more believe "debts" are mostly used as a means to make someone else richer. It doesn't mean you get a house, it means someone else gets more money for the house you bought. We should only have debts to produce something new, not to increase existing prices.

Of course, Bitcoin is the least risky cryptocurrency where the investment is considered very safe. But there are many new and excellent projects where capital can be quite safe۔Newbies should invest in top ranked coins and always invest their capital in different tokens.An investment in a single project can result in the loss of all your capital if that project fails.Anyone who is new to cryptocurrency or new to the field should not invest in new tokens.

You are right. People should be careful when it comes to trying new things. And especially, they need to do research. Not spend all of their money on something just because it's popular.
Also about some coins that made a big fall: the same happens in Forex or other regular exchanges. Companies come and go, sometimes they go bankrupt.

But I also see here a chance for people from all over the world to earn money in crypto - a legit way. And it would be good if they could spend this money in their country. The one thing that is needed is good education about what crypto is and what possibilities come with it.

Technology advancements have made things easier to notice over time, but we chose not to pursue further investigation. I am not surprised that young people are the ones who are most familiar with cryptocurrencies. This is because they are the ones who interact with social media and websites all most time, and most of this cryptocurrency awareness are spread through sites like Twitter, Reddit, Instagram, Facebook, and many more. Since many older people don't deal with social media or spend time much of time their, the majority of them are unaware of its existence of cryptocurrency.

I can't say that the day will come when everyone will place more trust in cryptocurrencies. Due to the numerous scams occurring in the cryptocurrency industry today, many people are even beginning to lose faith in it. Many people have lost thousands of dollars they worked hard to earn over a long period of time due to the failure of reputable projects, so this kind of thing has started to creep into people's minds.

It will come that the majority of people will know about it. Just give it time and there's no competition about it, with the help of social media spreading the word about bitcoin will be easier.
Chatgpt got 100 million users within a few months of knowing it and with bitcoin, it would be more but does it really matter when it's quite established already? The biggest financial institutions are already aware of it and people like you and me are already aware of it. There's no hurry on having most people on board and they'll just come eventually and the numbers will increase over time.

There is no doubt that very few people know about cryptocurrencies and there is hardly any discussion about cryptocurrencies or Bitcoin in daily life.  Buying and selling of land and Gold 🪙 has been a part of our life since the beginning. And older people trust it a lot. But Bitcoin or Cryptocurrency is also slowly coming to the knowledge of people and whoever knows about Bitcoin or Cryptocurrency.  Then everyone thinks how good it would have been if they had known about Bitcoin earlier. Surely Bitcoin and cryptocurrency will be the best investment source in our future ,However, about digital currency.  No adequate effort has yet been made for complete awareness. There is an urgent need to think about it.In this way, people will be attracted to bitcoin and crypto and their belief in crypto currency and bitcoin will become stronger.

As I live in Africa, here we won't see this type of measure so soon, maybe they can implement it in 10 or 15 years, and knowing that the level of development is very slow, it might even take more than 15 years. Europe is a developed continent, but I still think it is very risky to eliminate paper money, there are many situations in which paper money is very advantageous, I particularly prefer using paper money than card


the truth is that the privacy that many people dreamed of getting with cryptocurrencies is just a dream, look at it now: exchanges ask for KYC, cryptocurrency casinos ask for KYC, to buy cryptocurrencies using bank account you need to go through a long process such as : go to the bank to deposit money ( they ask for documents ) + look for good and reliable exchanges and another headache + then you have to do KYC at the exchange ( deliver ID, deliver residence declaration + take selfie holding ID ) + then finally comes time to compare bitcoin if you are faced with a high fee, even here you might think that the headache is over, but after you receive the money in your account and you realize that there is much less than what you expected, all because exchanges have a hidden fee, so you are left with more headache

I ask you: where is the privacy? we no longer have privacy

even if you buy bitcoin with a friend, on the day you want to withdraw to the bank you will need to do KYC on the exchange, if you use a casino and you win a lot you will have to do KYC, we are moving towards KYC, there is no future in anonymity or privacy

I live in country here older people are not very educated to understand crypto, they like that old ideas of making money like small business, employment etc, they only want to earn money, they don't want to understand bitcoin.
nowadays this generation and further generation will be educated, they can take interest in technology, and after some year they will understand it they use it in regular transaction to buy things etc.
and people who know what is crypto how it work how secure it is they will definitely need to trust.
sorry for bad english

Do you think it is the last time that a coin (like Luna and FTT) would fall greatly to the extent someone's millions of dollars would become nothing again. It is not also the last time you will think a stable coin (like that pegged with dollar like UST) would fall out of peg and decreased more than expected. Which means even if anyone trust cryptocurrencies, there are still many bad days to come.

Some people may want to invest, but do not know the research to do to know the right coins and tokens. I have a brother that I did not know he has lost a lot because he invested in many fake (not even failed but fake) projects and he continued to lose. When I saw him after many years, he told me about it and how he can never invest in any coin or token again.

I will advice people, especially the newbies to just still trust in bitcoin.

I hate to see where the current system is going. I live in Europe, and here the government wants to cancel all paper money and force us to pay with our credit cards.

People don't even see where it leads. Total control through the people who are in charge. No privacy.
I say no to this. I don't agree with that.

Putting aside the fact that the government already takes a huge amount of our money in taxes, I don't want them to take away our privacy or the way we want to spend our money.

This is why I see a lot of opportunities in cryptocurrency.