Topic: Trust in cryptocurrency? - page 8. (Read 1398 times)

As with any new technology, trust is an essential factor in its adoption. Cryptocurrency has faced a lot of skepticism and criticism due to concerns about its volatility, security, and lack of regulation. However, as the industry continues to mature and address these issues, people may become more comfortable and confident in using cryptocurrency.

Well it is simple, older people don't understand cryptocurrency because this is more of a new thing just about 14 years old, and most older people might not be really paying attention to new techs like this especially if it is something they can't even feel compare to younger people that are "naturally tech-savvy" and wants to explore new opportunities. However, as the younger generation gets older we will begin to see a higher number of old gen that pay more attention since it is what they have been doing since a young age.

But it's different from developed countries, the evidence is that there are very many who know Bitcoin, maybe at the age of 40 and over regarding the use of Bitcoin and how they already understand it, maybe for countries that are not yet developed like in parts of Southeast Asia, there are probably still many people who are over the age 40 years not very familiar with Bitcoin, because what I know is that teenagers avoid taxes regarding the ownership of Bitcoin, so they hesitate to introduce bitcoin to their parents, who actually have to tell them and introduce them to bitcoin, because more and more everyone in this world forced to use the world of technology that's why this must be done as soon as possible..

well, I think that time has come how? well if we look at the stats they tell us that number of crypto users is increasing day by day. if you look at a report global-cryptocurrency-ownership by Statista. you can see the number of crypto users increases year by year and I found only two countries (Columbia and Peru) whose number of users decreases over time. Why? well, I found no regulatory ban on crypto in both country then why did number decrease that's another discussion. for now, I can say lack of knowledge, misguidance, and putting money in the crypto market without a proper guide or simply following a fake expert may become causes of great loss. so knowledge is useful whether you are involved in that field or not.

Like even the mentioned people either they are Gen-Z or millennials, basic knowledge of dominating technology is necessary or I must say if you found someone with wrong accusations or with less or no knowledge. you should teach them the basics and how much impact blockchain and crypto can make.

Now, you are asking when crypto will act like normal currency. well, I must say that depends on many factors like regulations by the government, if they banned it or prohibit its use then that person could now enjoy the features and luxuries of crypto and blockchain. maybe the less approach towards crypto exchanges or banned in many countries (KYC) could be a reason for those people who do not trust crypto just because their government does not trust it. so factors that break the trust of traditional people are many but we should let them know about the unleashed technology and the impact that it could make on various sectors like finance, agri, production, industries, management, etc. list is long.

Overall, no one can tell the exact time but many countries are using it for normal day-to-day uses such as El-Salvador, Nigerian, etc. no doubt the adoption is not as much as fiat has today but good things take time and once fiat or banking system understands the technology then they will definitely implement it like for example crypto is ban in our country for so long but now they are going to implement blockchain technology in the bank for KYC purposes. Here is the post:
so i must say patience brings tasty fruits so hope you government see the potential that crypto has.

Bitcoin is not like the crypto we are discussing. Bitcoin is more than what we're talking about. The crypto we are discussing is generally used so I try to call E-Wallet a picture of a big change in the world. Meanwhile, comparing it to the function of Bitcoin is completely different. I'm sure you understand better than me how Bitcoin is so much better than all of that.

You may be right. the use of such payments is very easy for related parties to block such as bank accounts.

I think that at the moment we are at the very beginning and to some extent this is good, because we have the opportunity to be the first and we have the opportunity to buy bitcoin at a very good price, because when everything changes and only 20% will not know anything about cryptocurrency, there will be many more people who want to own bitcoin and this will send the price to the moon.

Adoption is a long process, it cannot happen in one year, but we are moving in the right direction.

In a world where most people still believe that "Cash" is backed by Gold, you will find it difficult to convince them that Bitcoin are better. The only thing that quickly convince them, is when something happens with the value of their wealth.

The people in Zimbabwe quickly saw what Hyper inflation can do to the value of their wealth and what happens when a government drives their economy into the ground. They ended up with 1 Trillion Dollar bills that had less value than a sheet of toilet paper... but they trusted that government with their "cash".  

2 people out of 10 have already heard it, possibly more. But maybe 1 person in 10 should really know what Bitcoin is. Bitcoin can be trusted, the people behind it not always, the greed for profit makes it difficult.

Currently, people trust the currency of their country because it is easy not to think about it. If people really wanted to own their money, they would want something else.

Now it is paper with numbers on it. The numbers on the paper dont change, inflation does and so does the value of the number on the paper?

Running cryptocurrency still worth and profitable I don't have any reason not trust with cryptocurrency or leave it after earning much profit and have been my passive income since 2015. New era have many kinds way how to earn income and the highest technology created by human we need adapted and make benefit for us.

I think cryptocurrency is not only investment way but also will benefit when adopting as global payment currencies digital, transparent payment, fast and there are not need longer time to get transaction this way trust with cryptocurrency.

We are currently between the 80s and 90s generations.  I don't think it's a difficult thing and I'm pretty sure people will start accepting cryptocurrency in normal life.  This is the same as when the digital wallet was first launched.  Or like when the credit or banking system was launched in ancient times.  I think everything will keep up with the times.  And now many of my friends who are in their 30s are starting to understand and accept cryptocurrencies.  In the 2000s generation they have lived with technology from childhood and I believe the time when crypto currency becomes normal in our lives will not be long in coming.  It will come soon.  Trust me. 

If it is just about digital payments then Bitcoin isn't necessarily the best choice. Bitcoin is more about the maximum extent to have sole control over your assets while that is something you don't have when you have an account with a bank, which in theory could just be frozen and you can't access your money. Or payments get blocked for no reason. All these things have happened already and that's where Bitcoin is amazing. It is neutral and nobody can keep you from conducting business the way you personally please.

Now if CBDCs will ever come out that's actually worse than fiat money. They can trace every single payment and actually build a profile about you based on the data you produce just with transactions...

Older people would really be sticking on things that they are really getting used to which is on fiat and other traditional business that we've known and the rest would really be putting them in doubt whether

it is really that working or some another scam or fraud on the internet on the time that they do hear out.This is why convincing older people would really be a challenging thing for sometimes
but there are ones who do easily get adapted on whatever they are facing on point and not really having that close-minded being which doesnt really accept
any possibilities of changes and newer things.

Exactly,  older people are more at peace with physical business than getting involved in high risk ventures unless in an extra case were the older person has adequate knowledge and ready to wait.

-And if you ask me what investment or method to buy by old people so imagine an increase in them and if the bank is fucking up t can still use Bitcoin as best

I think it doesn't matter whether in the end it can be trusted or not for everyone because the most important thing in this case I only look at myself and as long as I think this is a worthy thing then I will do it.
Conditions regarding Cryptocurrency are actually improving at the moment, but when there are still many people who don't know, it's also quite reasonable because the spread is just starting at this time and gradually the conditions will clearly continue to improve, especially with advances in technology and fast information. I think so far it's still continues then crypto will continue to be known.

Or better yet, most older folks are just happy and contented with the traditional methods.
The adoption is increasing when it comes to crypto, however, most of them, still need the traditional way in daily living.
Just be grateful that the crypto market has emerged in our generation, don't aim for its full adoption.
Because I believe, we won't see that in our lifetime. Many will be knowledgeable, however, the traditional way of life will still remain.

It will take a long time before people will become at home with Bitcoin and it usage, most people still don't know what Bitcoin is and how it works, but Bitcoin is quite popular among young people between 17-35 majority fall between 17 years and 25 years of age.

-Majoriry of the older folks dont have an interest in modern technologies due to lack of right information and education on the subject matters.

I am living in an area where if involved in the crypto business must be still a secret, no need to tell other people because most of the people around me here are against crypto, because of some reasons and bad news that are always spreading by the media. I cannot force people around me to understand or accept my crypto business involvement. that is why I ma working on it by myself, not telling people about my exact involvement in the crypto business. Except that there are certain people who are talking about crypto at first, I will also have a certain discussion about it with them. And this is very happy to meet with them and have a similar mindset about Bitcoin or crypto. But if I must talk to a certain society, I will prefer to be silent, because I know what they will say about it.

Well the older people may not know what cryptocurrency is all about but I am very convinced that many people that are using the internet everyday would not say that they have not heard about cryptocurrency before. Many of us might have heard or seen Bitcoin many times in our various search and ads that we see online. The world "Bitcoin" 8s everywhere around us so for the internet users, we had heard or see the symbol but we might not know what it is all about. Bitcoin is here to stay and there is nothing we can do about that, the world of cryptocurrency is growing faster making Bitcoin adoption to keep increasing.

Bitcoin can not just be known by every one at once, it Will going to happen gradually which is already happening currently, everyday new people are getting to know about bitcoin and new people are beginning to invest in bitcoin. Around 2010 just little people know about bitcoin or can I say nobody knows about bitcoin but today most youths in urban areas know about bitcoin even as some of them haven’t invested in bitcoin yet but they know about bitcoin.

The time you're looking for is slowly approaching as more and more people become aware and curious of bitcoin. Compared to years ago, especially before the bitcoin boom in 2017, I rarely see people talk about it let alone know about it outside of dedicated forums like these and echo chambers on social media. But now as it stands today we can see bitcoin adverts, as well as IRL traction gained from the hard work that a lot of us committed to years ago. If we keep this momentum and stayed true to our goal of letting every human soul in this planet know about bitcoin and its benefits I think there will come a time in the near, maybe even the foreseeable future where people would all have a designated bitcoin wallet, as well as be informed about bitcoin as well.