Trust in cryptocurrency? - page 3. | Bitcointalksearch.org

Xampeuu

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Quote from: SosSpagetti on March 06, 2023, 03:51:54 AM

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

developments that are occurring in this world, of course, started in a generation, as you described, is it possible for all people to know bitcoin, then the answer is yes, when the age category of 40 years and over is no longer there, young people who were previously aged 40 years and over, and of course the people below will certainly be more familiar with bitcoin because they live in an era where many people already know bitcoin, and finally bitcoin can be understood by everyone

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Quote from: Minor Miner on May 16, 2023, 03:43:14 AM

Quote from: Cryptmuster on May 16, 2023, 03:04:02 AM

Quote from: suzanne5223 on May 15, 2023, 07:29:22 PM

I don't think the problem is people not knowing the gravity of how the fiat currency gives the government the power to control and also manipulate the economy through the printing of more fiat currency but the problem is some people are not believing in the decentralized ecosystem since it doesn't have the government assurance.

The truth is that people are satisfied with centralized control because they believe that the state, or other governing body, can protect them. Responsibility is the main reason for this, because people are afraid of responsibility, and they are ready to believe the one who tries to guarantee it. But we know many reasons why this outdated system does not work properly.

You are right, people are satisfied with what they have, so we cannot tell them to believe in something new and not yet recognized by the government. But we should not be blamed for their lack of knowledge or weakness because the government and banks have existed for hundreds of years, and the habit of depending on the government has also been formed for hundreds of years. While the decentralized system has only just begun to be known since bitcoin was created, 14 years is nothing compared to the existence of government, so it takes time for people to realize things.

@Cryptmuster
People being afraid of taking responsibility is not the reason. What they wanted is some sort of security that will back the cryptocurrency market because their people are that there is no sort of guarantee that the market won't go to zero in the future. This is why they hope for government assurance before going into cryptocurrency.

@Minor Miner
It is never in the nature of every human to be totally satisfied with what they have and every human has the habit of wanting some more but some people believe some set of people are satisfied with what they have because those people choose to keep their greed in check.
Having said that, we can only tell the people don't believe in something which is not backed by the government about BTC and I am sure its historical record to enough to make the genius mind trust in the decentralized system of BTC.

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Quote from: mirakal on May 16, 2023, 11:33:42 AM

Quote from: BVeyron on May 16, 2023, 10:42:15 AM

Quote from: SosSpagetti on March 06, 2023, 03:51:54 AM

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

I think in some time people will trust in crypto. The digital money systems are developing fast, and decentralisation along with blockchain mechanism is the new step in digital banking. The question is will there be crypto-based fiats, or will crypto replace fiats... Also, the world's main fiat currencies inflation is something possible to happen soon, then crypto can be useful.

Soon enough, that will happen. I don't think that fiat will remain as it is in the future because considering the annual increase of inflations, it will open the eyes of the people who took a blind eye because of their trust towards government and for others as well who don't know yet the reality that they are facing as using fiats has been their life for decades already. As of now, everything is still on the process and cryptocurrency is not yet that known in the whole globe, but time will come that it will be used by many.

Quote

The question is will there be crypto-based fiats, or will crypto replace fiats

Maybe but I doubt that the latter will happen as crypto, and fiats are different and have their own utility.

And overall it will just go back to the main subject of this topic about trusting the current currency we are using right now. Since what we have observed failed to do so, it will only end up something wjll replace fiats, although for sure right now there is no guarantee that bitcoin and other cryptocurrency could be the ones replacing it, as what we can see about the advancement of technology right now, it is positive that either one of them or there will be new with better ecosystem or overall has the improvements we lacked as of today will somehow replace the inflation filled fiats.

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Quote from: Agbe on May 16, 2023, 04:12:52 AM

~snip

Change is constant that what theorist said. The young generation believe that cryptocurrency is legit asset which can change their life one day but the old people but old people still tag Bitcoin as a fraudulent asset. That is one of the major challenges of the age.

Actually, not all. People who are willing to learn and read will understand more deeply. Many people who say just because they hear don't identify further. It is true, many people say Bitcoin is a scam, bitcoin is gambling and the majority of them do not understand before giving judgment. Perhaps when the older generation goes extinct there will be a major shift regarding Bitcoin. Because I believe the current generation of young people are more proficient in technology and more critical of something new. I feel confident Bitcoin will develop better.

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Quote from: BVeyron on May 16, 2023, 10:42:15 AM

Quote from: SosSpagetti on March 06, 2023, 03:51:54 AM

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

I think in some time people will trust in crypto. The digital money systems are developing fast, and decentralisation along with blockchain mechanism is the new step in digital banking. The question is will there be crypto-based fiats, or will crypto replace fiats... Also, the world's main fiat currencies inflation is something possible to happen soon, then crypto can be useful.

Soon enough, that will happen. I don't think that fiat will remain as it is in the future because considering the annual increase of inflations, it will open the eyes of the people who took a blind eye because of their trust towards government and for others as well who don't know yet the reality that they are facing as using fiats has been their life for decades already. As of now, everything is still on the process and cryptocurrency is not yet that known in the whole globe, but time will come that it will be used by many.

Quote

The question is will there be crypto-based fiats, or will crypto replace fiats

Maybe but I doubt that the latter will happen as crypto, and fiats are different and have their own utility.

riskarcher

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Quote from: BVeyron on May 16, 2023, 10:42:15 AM

Quote from: SosSpagetti on March 06, 2023, 03:51:54 AM

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

I think in some time people will trust in crypto. The digital money systems are developing fast, and decentralisation along with blockchain mechanism is the new step in digital banking. The question is will there be crypto-based fiats, or will crypto replace fiats... Also, the world's main fiat currencies inflation is something possible to happen soon, then crypto can be useful.

what you mean crypto replace fiats ? If you means fiat money intergrated with blockchain system it's that possible but if you mean crypto replace fiats it will be take a long time for that and currently crypto still high risk and high volatile of value for each stable coin such TerraUSD and USDC, thats why crypto is decentralize due to people can't control include price of stable coin

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Quote from: SosSpagetti on March 06, 2023, 03:51:54 AM

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

I think in some time people will trust in crypto. The digital money systems are developing fast, and decentralisation along with blockchain mechanism is the new step in digital banking. The question is will there be crypto-based fiats, or will crypto replace fiats... Also, the world's main fiat currencies inflation is something possible to happen soon, then crypto can be useful.

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Quote from: SosSpagetti on March 06, 2023, 03:51:54 AM

_20% of them know what cryptocurrency is.

how do you come to the conclusion of this figure or percentage? Most of those whom you ask only know the name and have not come encounter with bitcoin. And for you to give that percentage means you moved around to ask people because that percentage is big.

Quote from: SosSpagetti on March 06, 2023, 03:51:54 AM

Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

bitcoin is a new asset to the system therefore is only those who are smart enough can capture it very fast. And young people are learning it very fast so definitely they would know it more than the old people.

Quote from: SosSpagetti on March 06, 2023, 03:51:54 AM

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

Change is constant that what theorist said. The young generation believe that cryptocurrency is legit asset which can change their life one day but the old people but old people still tag Bitcoin as a fraudulent asset. That is one of the major challenges of the age.

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Quote from: Cryptmuster on May 16, 2023, 03:04:02 AM

Quote from: suzanne5223 on May 15, 2023, 07:29:22 PM

I don't think the problem is people not knowing the gravity of how the fiat currency gives the government the power to control and also manipulate the economy through the printing of more fiat currency but the problem is some people are not believing in the decentralized ecosystem since it doesn't have the government assurance.

The truth is that people are satisfied with centralized control because they believe that the state, or other governing body, can protect them. Responsibility is the main reason for this, because people are afraid of responsibility, and they are ready to believe the one who tries to guarantee it. But we know many reasons why this outdated system does not work properly.

You are right, people are satisfied with what they have, so we cannot tell them to believe in something new and not yet recognized by the government. But we should not be blamed for their lack of knowledge or weakness because the government and banks have existed for hundreds of years, and the habit of depending on the government has also been formed for hundreds of years. While the decentralized system has only just begun to be known since bitcoin was created, 14 years is nothing compared to the existence of government, so it takes time for people to realize things.

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Quote from: suzanne5223 on May 15, 2023, 07:29:22 PM

I don't think the problem is people not knowing the gravity of how the fiat currency gives the government the power to control and also manipulate the economy through the printing of more fiat currency but the problem is some people are not believing in the decentralized ecosystem since it doesn't have the government assurance.

So we have a situation when there is a lack of knowledge, a lack of understanding how crypto works. If you want to trust something you choose a government assurance and if a gov doesn't justify the trust you face with a problem, if they justify you are okay. Known system, many understand that. But how to deal with a trustless system, how to bear the responsibility over own money, it is not so easy to understand. And some can choose to trust to a third party even if they will get enough knowledge about bitcoin and how it works.

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Quote from: suzanne5223 on May 15, 2023, 07:29:22 PM

I don't think the problem is people not knowing the gravity of how the fiat currency gives the government the power to control and also manipulate the economy through the printing of more fiat currency but the problem is some people are not believing in the decentralized ecosystem since it doesn't have the government assurance.

The truth is that people are satisfied with centralized control because they believe that the state, or other governing body, can protect them. Responsibility is the main reason for this, because people are afraid of responsibility, and they are ready to believe the one who tries to guarantee it. But we know many reasons why this outdated system does not work properly.

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Quote from: Twentyonepaylots on March 30, 2023, 08:03:46 PM

I think the awareness on cryptocurrency on a global scale is still small especially when we look at developing countries that majority of population isn't the technologically involved nor aware. In our country, cryptos are seen as some money investment that some think of it as scam. Also, majority would be overwhelmed with the technicality of this digital currency. I think, there's still a long road towards full acceptability of this new currency.

Most of the people in the country where I live do not know anything about cryptocurrency. Some people may have an idea about Bitcoin. There are some people who don't see our activities well ie they think we are doing something illegal. How can those who don't have the least idea about crypto currency trust crypto currency?
The main reason why the government system of our country does not look favorably on cryptocurrency is the scams of many e-commerce companies in our country. Many people of our country invested all their money in some e-commerce companies and many people took loans and invested in these e-commerce companies but these e-commerce companies ran away with huge amount of money due to which many people were unable to repay their loans. Pere committed suicide.
Considering all these things, the government system of our country cannot trust crypto currency.

axxo

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As we all know that crypto currency is gaining popularity and continue to be widely accepted. As more people begin to understand and use crypto currencies, I believe it will become even more prevalent in our daily lives. The level of trust people have now in crypto currencies will depend on the government regulations, security measures, the stability of the market and its transparency. Increasing awareness and education about crypto currency can help people better understand how crypto currency works and how to use it safety. This can help build trust in the technology and increase adoption rates.

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Quote from: SosSpagetti on March 06, 2023, 03:51:54 AM

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people?

It's like those who know fiat money that enters into the lives of many people who don't fully understand behind the use of fiat other than as a transaction tool. This may apply to those who are classified as old age.
For those who are still young, they may have a broader understanding, including crypto, because information updates can be obtained more quickly.

Quote from: SosSpagetti on March 06, 2023, 03:51:54 AM

Will people be able to trust crypto?

If they can trust fiat currency in normal life, then over time they will trust Bitcoin even more.
But if they try to find out more about fiat besides its function as a transaction tool, then they will turn to Bitcoin.

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Quote from: SosSpagetti

But do you think it will be time when cryptocurrency will come into our lives and be normal for all people?

Yes, if you can look around your environment you would discover that the numbers of cryptocurrency users has increased higher based on the good results people have achieved from cryptocurrency that made them to believed on decentralized currency than centralized currency that is control by the government. Based on what the first country El Salvador that adopted Bitcoin are doing to ensure unemployment and poor economy is be eliminate from the country with the help of impacting the citizens Bitcoin knowledge. If you can dedicate your previous time to do everything possible to know cryptocurrency at your age now, I think it will really help you and other people to grow higher in your society.

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yes

Quote from: DiMarxist on May 15, 2023, 12:57:26 PM

People may have often heard about bitcoin, and but they don’t have interest on it, because they don't know how to invest, then they don’t give it a time to know and understand completely about bitcoin. cryptocurrency lover wants bitcoin to be widely acknowledged so that everything will eventually fall into place and for those who don't know how to invest or not even heard about it, will learn on Bitcoin and get trust crypto. As for the younger ones, at least different assets like crypto, stock market and others are becoming more popular already, and with the help of social media and the internet, these young ones can see it easily, and the rest left for them to do.

Cryptocurrency is increasing popularity around the world, and most countries have already adopted the newer advanced age era, which is undoubtedly beneficial to those who participate in the space. Our ultimate goals should be to set aside time for studying and improving on our daily targets in the crypto market. There's something to be gained for relying on yourself for food and easily paying expenses. Considering there will be no single moment to rest and study crypto books while we are obligated to family responsibilities, it is strongly recommended that we know the foundation of cryptocurrency when the time is perfect.

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Quote from: Japinat on May 15, 2023, 10:53:51 AM

Quote from: suzanne5223 on March 30, 2023, 05:48:11 PM

You will be surprised to know that not all people that are from Europe truly have the intention of using Bitcoin or investing in it because they never truly have trust in it since it's not controlled by the government.
Is not they have never heard about it but they don't even care about diving into it. I have a friend that currently lives in Greece and the last time we talked was 2years ago before we lost contact cause he's into Medical practitioner (Doctor to be precise) I ask if he heard he said yes but he never want to go into its base on trusting the system.

Most probably because of the current monetary system and that's the only thing they trusted because it's backed by the government and then there's this reason from them that it's much easier to use and to carry without having some troubles as long as you obtained it legally.
Little did they know that the government have already successfully controlled them people into using fiats rather than having some other things that does not lose its value overtime and I certainly believe that it's our duty (us who know about crypto) to tell them what's new these days that there's another way how to avoid inflation.

I don't think the problem is people not knowing the gravity of how the fiat currency gives the government the power to control and also manipulate the economy through the printing of more fiat currency but the problem is some people are not believing in the decentralized ecosystem since it doesn't have the government assurance.

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Trusting cryptocurrency was a hard thing at the beginning, because it was new for the people to accept something that has got value without any physical presence. Slowly people got used to it as a result of transition happening with the traditional fiat system taking the digital format. Cryptocurrency being technology dependent, initially people who hadn't got good knowledge about technology found it difficult to understand. With time things have been made simple with the existence of more number of user friendly services available for buying/selling/investing of cryptocurrencies.

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People may have often heard about bitcoin, and but they don’t have interest on it, because they don't know how to invest, then they don’t give it a time to know and understand completely about bitcoin. cryptocurrency lover wants bitcoin to be widely acknowledged so that everything will eventually fall into place and for those who don't know how to invest or not even heard about it, will learn on Bitcoin and get trust crypto. As for the younger ones, at least different assets like crypto, stock market and others are becoming more popular already, and with the help of social media and the internet, these young ones can see it easily, and the rest left for them to do.

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Quote from: suzanne5223 on March 30, 2023, 05:48:11 PM

Quote from: nurilham on March 30, 2023, 04:43:48 PM

Quote from: SosSpagetti on March 06, 2023, 04:23:08 AM

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.

I'm surprised that you live in Europe but many people there aren't familiar with crypto. Moreover, it seems your government prefers to use digital currency over paper money, people there should be a bit familiar with digital currency like Bitcoin.

Anyway, can you tell me why your government has the intention to cancel paper money? As far as I know, most governments like to use paper money (fiats). Especially like in my country, there will be a big problem if the government removes paper money and only use credit cards. It is something hard to apply for low-class economy people. Unless you live in a rich country where all the citizens are at a high-class economic level.

You will be surprised to know that not all people that are from Europe truly have the intention of using Bitcoin or investing in it because they never truly have trust in it since it's not controlled by the government.
Is not they have never heard about it but they don't even care about diving into it. I have a friend that currently lives in Greece and the last time we talked was 2years ago before we lost contact cause he's into Medical practitioner (Doctor to be precise) I ask if he heard he said yes but he never want to go into its base on trusting the system.

Most probably because of the current monetary system and that's the only thing they trusted because it's backed by the government and then there's this reason from them that it's much easier to use and to carry without having some troubles as long as you obtained it legally.
Little did they know that the government have already successfully controlled them people into using fiats rather than having some other things that does not lose its value overtime and I certainly believe that it's our duty (us who know about crypto) to tell them what's new these days that there's another way how to avoid inflation.

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