Unnecessary reasons why people dislike Bitcoin. - page 2.

Promocodeudo

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Quote from: HelliumZ on July 25, 2024, 09:11:18 AM

People who have no knowledge about Bitcoin or those who are not interested in learning about Bitcoin simply do not like Bitcoin.
The popularity and acceptability of a coin is considered not by everyone having to like Bitcoin but by having two categories of Bitcoin Likers and Bitcoin Dislikes. But Bitcoin is an unpopular currency for those who like banks and fiat but those who like Bitcoin don't like banks and fiat.

Am trying to get the logic behind what you said, although you are right to an extent but there is something we really need to know and thats information, many people may not have a good information about Bitcoin and this might be the reason for their nonchalant attitude towards Bitcoin investment, people do say another man food is another man poison but the truth is that if you have not have a taste of a particular food, you won't know whether the food is nice or not, Bitcoin may be unpopular to those who like banks or fiat as you said because of either lack of information or misinformation about Bitcoin investment, I don't think that an individual that's very much informed about a long-term profitable investment like bitcoin will want to keep his or her money idle in a financial institution without good return instead of using the same money to build a good portfolio in bitcoin investment, I have come to understand that our choice of investment are been triggered by our mentality and exposure.

GiftedMAN

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Quote from: Marykeller on July 28, 2024, 09:04:35 AM

Quote from: GiftedMAN on July 27, 2024, 05:22:46 PM

Quote from: fuguebtc on July 27, 2024, 07:38:11 AM

Quote from: Marykeller on July 27, 2024, 04:42:21 AM

In the quest to become rich through bitcon investment, many people have fallen victim to scams because they lack the basic knowledge of what not to do when investing in bitcoin.

From the experience gathered so far from people why they dislike bitcoin as an investment is because they were introduced to bitcoin investment through a friend, and they gave out their hard-earned money to that friend of theirs to help and invest bitcoin for them, he ran away with their money without investing in bitcoin for them. Because of that experience, they regard bitcoin as a scam without knowing that they are to blame for "getting scammed" because, in the real sense, bitcoin investment is to be done by oneself not by giving to someone else to help you invest in it(you be in custody of your bitcoin).

In addition to lack of knowledge, you should also mention greed, if they don't have the greed to get rich quickly, even if they lack knowledge, they won't be easily fooled. So the main cause is people's greed, not necessarily ignorance, IMO.

There are hundreds of traps labeled as bitcoin to scam people, th youere are many cases where they directly invested in bitcoin but because they could not withstand its volatility, they sold it at a loss. But they still blame bitcoin as a scam and stubbornly refuse to admit that it is due to their greed. In short, those who call bitcoin a scam are greedy, stubborn and ignorant.

I agree with you, greed is one of the reasons why most people see bitcoin has scam, apart from investing in Ponzi schemes which most scammers label has bitcoin investment so many people have lost money in the name of investing in Bitcoin without having proper knowledge of what bitcoin investment is all about. Some has been deceived because they were wrongly advised that after investing in Bitcoin within the next few weeks they will be able to have a double of their capital but not understanding the market they will rather sell and take loss when the price of Bitcoin is down.

Some of the people who also see Bitcoin as evil have been fooled by some scammers using free airdrop, they get people to invest in a token in the name of Bitcoin but when it is time to make profit they will find out that they have been fooled by scammers a long time again.

I have found out that, for any investment that has long-term investment goals, many people are not just interested in such. They mostly prefer the short term, and that's why scammers get them easily because they tell them what they want to hear to expect doubling profits within a short-term

Yes, most people will not be interested to listen to you if you wanna introduce them to such investment because they will see it as a waste of time since you didn't tell them that they will double the amount they want to invest in the next few minutes or hours. Scammers seems to understand how to get their victims faster because they know that with sweet lies and money doubling strategy they will easily get the attention of people especially the poor because they are the ones that mostly want a fast money making investment.

Personally, I cannot advise anyone to go into any short term investment without proper investigation to know if the business is real or fake but right now in the world scammers are more than genuine people and once they approach you with their mouth watering offers the poor with their greedy mindset will mostly be attracted to invest but at the end they will cry out loud.

Marykeller

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Quote from: GiftedMAN on July 27, 2024, 05:22:46 PM

Quote from: fuguebtc on July 27, 2024, 07:38:11 AM

Quote from: Marykeller on July 27, 2024, 04:42:21 AM

In the quest to become rich through bitcon investment, many people have fallen victim to scams because they lack the basic knowledge of what not to do when investing in bitcoin.

From the experience gathered so far from people why they dislike bitcoin as an investment is because they were introduced to bitcoin investment through a friend, and they gave out their hard-earned money to that friend of theirs to help and invest bitcoin for them, he ran away with their money without investing in bitcoin for them. Because of that experience, they regard bitcoin as a scam without knowing that they are to blame for "getting scammed" because, in the real sense, bitcoin investment is to be done by oneself not by giving to someone else to help you invest in it(you be in custody of your bitcoin).

In addition to lack of knowledge, you should also mention greed, if they don't have the greed to get rich quickly, even if they lack knowledge, they won't be easily fooled. So the main cause is people's greed, not necessarily ignorance, IMO.

There are hundreds of traps labeled as bitcoin to scam people, th youere are many cases where they directly invested in bitcoin but because they could not withstand its volatility, they sold it at a loss. But they still blame bitcoin as a scam and stubbornly refuse to admit that it is due to their greed. In short, those who call bitcoin a scam are greedy, stubborn and ignorant.

I agree with you, greed is one of the reasons why most people see bitcoin has scam, apart from investing in Ponzi schemes which most scammers label has bitcoin investment so many people have lost money in the name of investing in Bitcoin without having proper knowledge of what bitcoin investment is all about. Some has been deceived because they were wrongly advised that after investing in Bitcoin within the next few weeks they will be able to have a double of their capital but not understanding the market they will rather sell and take loss when the price of Bitcoin is down.

Some of the people who also see Bitcoin as evil have been fooled by some scammers using free airdrop, they get people to invest in a token in the name of Bitcoin but when it is time to make profit they will find out that they have been fooled by scammers a long time again.

It's an ugly situation to note that greed is also one of the major reasons why people are been fooled by bitcoin investment up to date. Introduce an investment scheme to someone today, what will first be on their mind, is the greed to make huge profits within a short while. They wouldn't mind investing more than they can afford to lose if you manage to tell them to expect their profit in a short time. That's why people keep falling into scams every day because they are in a hurry to make quick money. They are not ready to have a long-term investment plan in either bitcoin or any other investment scheme that stays long before yielding huge profits.

I have found out that, for any investment that has long-term investment goals, many people are not just interested in such. They mostly prefer the short term, and that's why scammers get them easily because they tell them what they want to hear to expect doubling profits within a short-term

fuguebtc

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Quote from: GiftedMAN on July 27, 2024, 05:22:46 PM

Quote from: fuguebtc on July 27, 2024, 07:38:11 AM

-.-

I agree with you, greed is one of the reasons why most people see bitcoin has scam, apart from investing in Ponzi schemes which most scammers label has bitcoin investment so many people have lost money in the name of investing in Bitcoin without having proper knowledge of what bitcoin investment is all about. Some has been deceived because they were wrongly advised that after investing in Bitcoin within the next few weeks they will be able to have a double of their capital but not understanding the market they will rather sell and take loss when the price of Bitcoin is down.

Some of the people who also see Bitcoin as evil have been fooled by some scammers using free airdrop, they get people to invest in a token in the name of Bitcoin but when it is time to make profit they will find out that they have been fooled by scammers a long time again.

In any financial market or even in our lives , there are hundreds of traps created to scam people, there are hundreds of reasons people give to justify every time they are scammed . But after all , if we are not greedy and control our greed, it will be very difficult to be deceived by others and fall into others' traps.

If people are aware and restrain their greed, they will not rush to invest in any project without fully understanding it . I believe that no one will lose money and scams will gradually disappear . Scam comes from our greed, we should not blame anyone or anything when our greed is not under control .

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It has different factors why they hate the use of bitcoin, first is they experience bad things in crypto as you mentioned before they experience scam so they will not the same thing again, next is because of the influence of other people lets say they didn't know or have an idea what the bitcoin is because how does the community portrait the bitcoin bad influence they don't want to take a risk on it, I guess lastly is they really dont know what bitcoin is and they are afraid to have a change in their life so they keep still as is what they have. To those people who seeks an opportunity to the bitcoin and knows the challenges it will become rewarded through out your experience.

GiftedMAN

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Quote from: fuguebtc on July 27, 2024, 07:38:11 AM

Quote from: Marykeller on July 27, 2024, 04:42:21 AM

In the quest to become rich through bitcon investment, many people have fallen victim to scams because they lack the basic knowledge of what not to do when investing in bitcoin.

From the experience gathered so far from people why they dislike bitcoin as an investment is because they were introduced to bitcoin investment through a friend, and they gave out their hard-earned money to that friend of theirs to help and invest bitcoin for them, he ran away with their money without investing in bitcoin for them. Because of that experience, they regard bitcoin as a scam without knowing that they are to blame for "getting scammed" because, in the real sense, bitcoin investment is to be done by oneself not by giving to someone else to help you invest in it(you be in custody of your bitcoin).

In addition to lack of knowledge, you should also mention greed, if they don't have the greed to get rich quickly, even if they lack knowledge, they won't be easily fooled. So the main cause is people's greed, not necessarily ignorance, IMO.

There are hundreds of traps labeled as bitcoin to scam people, th youere are many cases where they directly invested in bitcoin but because they could not withstand its volatility, they sold it at a loss. But they still blame bitcoin as a scam and stubbornly refuse to admit that it is due to their greed. In short, those who call bitcoin a scam are greedy, stubborn and ignorant.

I agree with you, greed is one of the reasons why most people see bitcoin has scam, apart from investing in Ponzi schemes which most scammers label has bitcoin investment so many people have lost money in the name of investing in Bitcoin without having proper knowledge of what bitcoin investment is all about. Some has been deceived because they were wrongly advised that after investing in Bitcoin within the next few weeks they will be able to have a double of their capital but not understanding the market they will rather sell and take loss when the price of Bitcoin is down.

Some of the people who also see Bitcoin as evil have been fooled by some scammers using free airdrop, they get people to invest in a token in the name of Bitcoin but when it is time to make profit they will find out that they have been fooled by scammers a long time again.

dezoel

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I always thought volatility was the most absurd reason to dislike bitcoin. I mean we are talking about something that is quite literally the biggest reason a trader should love it, so why not invest and trade something that is volatile?

Sure it is not as volatile as it used to be but it is still volatile, which means that you can buy so low and sell so high, in a very short span of time. Saying that it's volatile so you do not want to trade it makes no sense to me at all, it is like saying you do not want to play basketball because there are hoops, or you do not want to read a book because there are words.

The volatility is literally the reason why traders make money, the more volatility means the more chances to make bigger profit. What are you going to do instead, trade gold? That moves like an inch a year, so much that people are looking ways for 1000x leverage these days actually, think about how high that leverage is, and it's likely because it moves so little, even a 100x wouldn't really hurt you. This is why I think volatility being a reason for someone to not look at it makes no sense, even for long term investment, because on long term it's not that volatile and it's doing fine.

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Quote from: bitgolden on July 26, 2024, 02:12:23 PM

Quote from: Marvell1 on July 26, 2024, 10:15:59 AM

`

If someone says that they are fine with bitcoin but would prefer gold or real estate, then that's fine and there is nothing wrong with that. But, if a person says that they "hate" bitcoin and they think it's a scam and that's why they prefer gold or real estate, that's a problem. The reason is that in one of them they do not care about us and just want to invest into something different and there is nothing wrong with that, all the good on them.

However on the other they are hating it and trying to put a bad name out there for bitcoin, basically trying to hurt us if they can influence any people. There are some big name investors and those whales end up saying some bad stuff about bitcoin, which isn't acceptable to me and I think it should be important to note that we are talking about something that's quite hurting on the long term.

We should be focusing on how they are hurting the market by saying these bad things, and whales are even worse because they have influence since they are whales. This is why preferring something else is fine, but hating on bitcoin should be stopped or at least we do not have to respect it and could tell something to them about it in order to stop them hating it.

I find gold to be beautiful. Always had. There's something about its shine, its history... its a winner. Real estate? With bricks and mortar, you cannot make mistakes. These are trustworthy, physical things. But you know what else I love? Winning. And Bitcoin, people, that is where the future is headed. I see other people. Bitcoin is new. That is different. Not everyone will find it interesting. But when big shots start calling it a "scam," thats just plain wrong. They're not just protecting their old money investments, they're holding us back.

Bitcoin is not only one more asset. It transforms everything. Its about empowering the people once more. It centres on openness. It is about eliminating the middlemen. Stop the negativity. Those folks should learn about it, understand it and then have a real conversation, not a smear campaign.

In the end, its really about choices. Your choices. And none, not even the largest whale in the tank, have the authority to advise you on how to spend your money. So, lets open our minds, folks.

Kelward

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This is true, people who are not knowledgeable about Bitcoin and don't know that it is different from altcoins will call it a scam. A newbie can invest in a scam project and when the token is dead he will categorize the whole cryptocurrency as scams including Bitcoin. The ignorant person will tell others not to have anything to do with any cryptocurrency that they are all scams. Not minding that he got scammed because he didn't research the project that he invested in.

Bitcoin adoption is increasing because more people are becoming aware that it's a store of value. Unlike in the early days of it's creation when people like me thought that it was one of those Ponzi schemes, time has proven that it's a valuable asset that is worth investing in. Bitcoin is a decentralized digital cash that anybody can hodl and use for different kinds of transactions, including to scam others. People must understand that Bitcoin like fiat is a currency and a means of financial transactions, not a scam asset.

fuguebtc

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Quote from: Marykeller on July 27, 2024, 04:42:21 AM

In the quest to become rich through bitcon investment, many people have fallen victim to scams because they lack the basic knowledge of what not to do when investing in bitcoin.

From the experience gathered so far from people why they dislike bitcoin as an investment is because they were introduced to bitcoin investment through a friend, and they gave out their hard-earned money to that friend of theirs to help and invest bitcoin for them, he ran away with their money without investing in bitcoin for them. Because of that experience, they regard bitcoin as a scam without knowing that they are to blame for "getting scammed" because, in the real sense, bitcoin investment is to be done by oneself not by giving to someone else to help you invest in it(you be in custody of your bitcoin).

In addition to lack of knowledge, you should also mention greed, if they don't have the greed to get rich quickly, even if they lack knowledge, they won't be easily fooled. So the main cause is people's greed, not necessarily ignorance, IMO.

There are hundreds of traps labeled as bitcoin to scam people, there are many cases where they directly invested in bitcoin but because they could not withstand its volatility, they sold it at a loss. But they still blame bitcoin as a scam and stubbornly refuse to admit that it is due to their greed. In short, those who call bitcoin a scam are greedy, stubborn and ignorant.

Marykeller

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In the quest to become rich through bitcon investment, many people have fallen victim to scams because they lack the basic knowledge of what not to do when investing in bitcoin.

From the experience gathered so far from people why they dislike bitcoin as an investment is because they were introduced to bitcoin investment through a friend, and they gave out their hard-earned money to that friend of theirs to help and invest bitcoin for them, he ran away with their money without investing in bitcoin for them. Because of that experience, they regard bitcoin as a scam without knowing that they are to blame for "getting scammed" because, in the real sense, bitcoin investment is to be done by oneself not by giving to someone else to help you invest in it(you be in custody of your bitcoin).

pawanjain

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Nothing lasts forever

There is nothing we can do about it because all they need is awareness and the internet already has enough information for them to be self aware of this fact that our bitcoins lie in our hands.
It's only because we made a mistake in securing our coins that our coins get stolen.
Yes, we need to be tech savvy enough to secure our bitcoin and this is the only challenge in holding bitcoin.
Not everyone is knowledgable enough to have a tight security.

Pandu Geddon

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Quote from: Princess Leah on July 20, 2024, 07:45:25 AM

their reason for disliking Bitcoin makes little sense, sometimes the hatred is caused by ignorance but then after hearing some people's reasons you'll notice it's just an unnecessary dislike for the project.

however, people have been using fiat for a very long time. and introducing Bitcoin, of course, there will be some rejection from certain communities. our society has been educated since childhood to throw fiat in the bank. they never know they are not actually holding money when they put their money in the bank.

but I believe the Bitcoin development and adoption system will be gradually accepted by the community, eventually replacing the understanding of fiat. of course, the process is not instant. currently, there is more public understanding of Bitcoin as an investment asset. but that doesn't matter when in the future Bitcoin will be used as a means of payment.

Marvell1

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Quote from: bitgolden on July 26, 2024, 02:12:23 PM

Quote from: Marvell1 on July 26, 2024, 10:15:59 AM

...

...

However on the other they are hating it and trying to put a bad name out there for bitcoin, basically trying to hurt us if they can influence any people. There are some big name investors and those whales end up saying some bad stuff about bitcoin, which isn't acceptable to me and I think it should be important to note that we are talking about something that's quite hurting on the long term.

We should be focusing on how they are hurting the market by saying these bad things, and whales are even worse because they have influence since they are whales. This is why preferring something else is fine, but hating on bitcoin should be stopped or at least we do not have to respect it and could tell something to them about it in order to stop them hating it.

I call it unfair competition, some people do not invest in bitcoin and are spreading false information to lower the reputation of bitcoin. I do not support those things, but I will not argue with them because we cannot force them to shut up and I believe that with the development of social networks today, everyone will know what is the truth. Lying to people is not easy these days because every information is available on the internet.

Additionally, many bitcoin investors are also trying to spread the word and badmouth other assets or investments to make bitcoin shine. If you condemn those who spread negative things about bitcoin, you should also condemn bitcoin investors who are badmouthing other assets because that is also unfair competition and creates even greater conflict.

darkangel11

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I know a number of reasons why people dislike bitcoin and usually it's one of the following:

Because some public figure like Warren Buffet doesn't like it.
In other words the person has no preferences, but relies on other people's opinions. You won;t watch a movie because someone else said it's bad. You won;t try a dish because someone did not like it... That's stupid!

Because someone was scammed. Oh shit, does that mean that if you get scammed by someone offering you a valuable gold watch at a discount, which turns out to be a Chinese knockoff, you will never buy a watch again? Cheesy

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Quote from: Marvell1 on July 26, 2024, 10:15:59 AM

Gold and real estate are the two most popular and favored assets in the world, but as far as I know, some bitcoin investors have stated that they do not like these two assets and they only like bitcoin.

This world is full of colors, everyone has different interests, so we don't need to hate someone just because they don't have the same interests as us. Similarly, we don't like gold but gold investors don't hate or criticize us, why are we upset when someone doesn't like bitcoin? That just shows how selfish we are when we try to impose our thoughts on others.

Regardless of the reason behind their dislike of bitcoin, if we cannot help them solve those problems then we should respect their decision. Bitcoin is not something so important that without it we will die, many people still have rich and happy lives without bitcoin. So respect each other's choices.

If someone says that they are fine with bitcoin but would prefer gold or real estate, then that's fine and there is nothing wrong with that. But, if a person says that they "hate" bitcoin and they think it's a scam and that's why they prefer gold or real estate, that's a problem. The reason is that in one of them they do not care about us and just want to invest into something different and there is nothing wrong with that, all the good on them.

However on the other they are hating it and trying to put a bad name out there for bitcoin, basically trying to hurt us if they can influence any people. There are some big name investors and those whales end up saying some bad stuff about bitcoin, which isn't acceptable to me and I think it should be important to note that we are talking about something that's quite hurting on the long term.

We should be focusing on how they are hurting the market by saying these bad things, and whales are even worse because they have influence since they are whales. This is why preferring something else is fine, but hating on bitcoin should be stopped or at least we do not have to respect it and could tell something to them about it in order to stop them hating it.

PX-Z

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I could only think is due to lack of understanding on how Bitcoin works and the rest is because of misinformation and hate. You see, those people keep posting hate comments against bitcoin are the people who don't fully understand how this technology works. Even authorities just making (planing) regulation out of nowhere that they don't understand. Imagine Lightning Network are now in risk because of privacy issue and even classified as payment service providers lmao.

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Quote from: Distinctin on July 25, 2024, 05:59:23 PM

The only reason why they don't seem to like bitcoin is because they don't actually have the clear understanding about bitcoin and all its opportunities and advantages that a wise man will gain from bitcoin. Instead, they chose to listen to those pro-fiat claiming that bitcoin is the biggest threat to the people and the government. Only to regret in the end why they chose not to trust bitcoin and miss all the opportunities that are supposedly make big changes in their lives.

Not only to pro-fiat but to the wrong influencers whom they are all ears. That's a very wrong thought that has been scattered to the non-coiners because instead of them because educated, they're being pushed away and all thanks to those people that are misleading them. It's not too late for them to start knowing more of Bitcoin. If they are going to take time with all of the good things that they'd hear from it, I am sure that they'll change their minds.

We're not obligated to make them like bitcoin if they dislike it. We can be the actual convincing factor to them for how we're going to show them how beneficial is to have Bitcoin. And from that, they'll be the ones to be turning around and will seek counsel to us on how it really works. By that time happens, it is your choice whether you'll spend your time to them talking about such or it's already too late to change your decision not talking to them.

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Quote from: Nheer on July 26, 2024, 07:52:40 AM

Quote from: kryptqnick on July 21, 2024, 05:27:45 AM

I agree that Bitcoin is legit and that people often dislike Bitcoin due to ignorance, but I also think that when someone doesn't like something, it's okay for whatever reason. For some, it can be bad memories of being scammed or involved in something they'd rather forget. For others, it can be a simple fact that Bitcoin is intangible, so you can't see and touch it. When people make false statements (such as that Bitcoin is a pyramid), it makes sense to correct them. But if it's a personal disliking of Bitcoin, I believe people have the right to dislike it and that's okay.

You are right, a lot of people actually dislike bitcoin because of ignorance, they have no knowledge about it and so there belief is that it’s just a way to scam them off their money but it’s not everyone that dislikes it because of ignorance for some it might actually trigger a bad memory when they hear about it could be that they got scammed once and felt bad or could be that a close person experienced something terrible while engaging in it and so they are only trying to protect themselves so sometimes a person cannot be blamed for their interest in certain things because of their experience.

Some people need enlightenment to be convinced to change their beliefs about certain things but if they have some knowledge about it already you might need more than that to convince them. If a person dislikes bitcoin their beliefs should be respected especially when they believe their reason is reason enough for them, with time they might change their mind.

Gold and real estate are the two most popular and favored assets in the world, but as far as I know, some bitcoin investors have stated that they do not like these two assets and they only like bitcoin.

This world is full of colors, everyone has different interests, so we don't need to hate someone just because they don't have the same interests as us. Similarly, we don't like gold but gold investors don't hate or criticize us, why are we upset when someone doesn't like bitcoin? That just shows how selfish we are when we try to impose our thoughts on others.

Regardless of the reason behind their dislike of bitcoin, if we cannot help them solve those problems then we should respect their decision. Bitcoin is not something so important that without it we will die, many people still have rich and happy lives without bitcoin. So respect each other's choices.

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Others are just stereotyping. Because some influential people think that Bitcoin is a scam, they tend to follow these influential person's beliefs without verifying the validity of the hate of the said influential person.

I highly agree that the most possible and unnecessary reason why people dislike Bitcoin is the misinformation and misconception spread by the anti-Bitcoin group. One known example is the belief of huge energy consumption of Bitcoin[1] and its negative effect on the environment but when the issue of Bitcoin energy consumption is tackled deeply, the result proves that the assumption is wrong[2].

[1] https://news.climate.columbia.edu/2022/05/04/cryptocurrency-energy/
[2] https://www.lynalden.com/bitcoin-energy/

Topic: Unnecessary reasons why people dislike Bitcoin. - page 2. (Read 985 times)