Topic: What factors scare others from investing into bitcoin? - page 19. (Read 4232 times)
I think a big thing that keeps people scared is losing their bitcoins. If you make one simple mistake your bitcoins can be lost forever. Your hardrive could fail, you could have a virus on your computer, someone could steal your keys, there is a lot of security risk if you are not prepared.
Some factors faced with Bitcoin is the challenge of making it work with no central system and no one trusting anyone else. The blockchain’s life span is limited by a decade under current circumstances. The growth of HDD capacity definitely lags behind. the blockchain’s life span is limited by a decade under current circumstances.
The reason some people are scared of investing in bitcoin is because they are of the opinion that bitcoin is a huge scam.
Another factor, is the volatility nature of bitcoin.
Another factor, is the volatility nature of bitcoin.
do not ever consider people who have never invested money in their lives and it will never do it, some people are scared and think about first to invest in bitcoin because they think it's a scam others do not invest because they do not understand what bitcoin is and how it works (like Warren Buffett) and others for fear of losing too much money.
Communicating with familiar investors(those who invest in traditional assets), most often the opinion sounds that BTC is highly overvalued currency, so investing in it is now meaningless. I don't agree with them.
they are scared of investing because they think it is a scam. also another thing is, it is their first time to invest and they doesn't know if there will be a possibility of returned. for me you have to study well on what where you looking for, and if you want to invest on that certain project you have to gain information onto that and to have a sympathy on what exactly would you like to happen. and don't trust anyone on investing, just trust your self that you will be successful in returned.
The sharp fall the we see in the price of bitcoin is a great deterrent for people running away from investing in bitcoin. Take last year for instance, btc price went as high as $20K and imagine someone who bought at this price expecting to gain, they will withdraw their monies on the way and run away.
Hello, in my opinion, people afraid of buying cryptocurrencies because it's something new in this world. Some of them think if they buy bitcoin it will disappear in the nearly future. I've heard many times that bitcoin is a bubble, but actually, these people know nothing about cryptocurrency.
bad news, market manipulation, huge volatility, a lot of scams and fraud - all this makes unfortunately doubt the bitcoin and crypto currency
There will be a lot of factors that scares everyone to invest in bitcoin but a preponderance percentage of it will be the feel of uncertainty wherein people aren't brave enough to take the risks and prove to themselves that it is really worthy. They tend to rule out negativity without even trying.
I agree. Not many people are risk takers and for those individuals the fear of uncertainty overrides all the other factors. There is no bigger fear than the fear of loss.
Lack of awareness is one of the main reasons for people not to get involved with Bitcoin because they believe the media story without doing their own research and try to understand what is Bitcoin technology and blockchain and how it works. I believe that price volatility and legal status are the main concern for anyone to think about their involvement in Bitcoin and other crypto currencies. I do not think that there are other problems like technology or user friendliness.
That's certainly true, mate. The problem here is the mainstream media, and comments from the world's most powerful men (like Warren Buffet) against Bitcoin's existence. They hate Bitcoin simply because it's a decentralized cryptocurrency which gives freedom and power to the people. As such, they'll do anything at their disposal to try to destroy Bitcoin's image and reputation in the mainstream world. People who're unaware how Bitcoin works, and what benefits it provides to the world, will simply believe all the stuff that it's presented in the mainstream media.
Things like these, make many new investors afraid from joining Bitcoin in the first place. Not to mention, there are factors such as volatility, hacks, scams, etcetera which scares away many newcomers into Bitcoin and other cryptocurrencies. However, I believe that time will come when people will become properly educated about Bitcoin and other cryptocurrencies to make good use of them in the future. With proper regulations, and the effort from startups and individuals alike, Bitcoin could probably grow as the biggest currency on planet Earth. Therefore, time will come when serious investors and people alike would join Bitcoin's cause to make money accessible to anyone worldwide. Just my opinion
There are a lot of factors that scared others from investing into bitcoin is the amount of mainstream media manipulation are one of them. The amount of influence a select few people have. The lack of regulation within crypto as a whole. The fact that regulatory decisions that you have little to no power over can greatly affect the price.
Bitcoin has come a long way and come really come to stay. As a matter of fact, anytime some people who know nothing about bitcoin are introduce to bitcoin about how bitcoin works, they channel all their attention to whoever is passing the information to them by listening attentively. However, after developing the interest in bitcoin, they quickly revert their interest in bitcoin the moment they hear of the volatile nature of bitcoin, thereby, deciding not to invest into it anymore.
There are several factors that other people scares from investing into bitcoin one of it is the changes of the price. Afraid to get scam with the sudden drops of price, and the strong fluctuations that our investment may lose at all. This is really necessary steps to learn first about crypto before investing.
As far as I know people are still afraid to invest in Bitcoin is one of the same reasons, that Bitcoin is illegal and not legal entity. so they are afraid of Bitcoin, they are afraid of fraud, and they are afraid of losing their money without anything that can be made to report. If only Bitcoin is legal, there must be a lot of people who invest in it even though the risk of investing in Bitcoin is very high, because the price is volatile.
People who are scared to invest in BITCOIN are mainly affected be the following:~
1. Frequent alteration of the price.
2. Downfall of the price ,sometimes to a great extent.
3. Thought of BITCOIN being a scam.
scam or the fact that some government or the media make us believe that it is a tool used by terrorist, drug dealers or money launderers. which in any case is false 1. Frequent alteration of the price.
2. Downfall of the price ,sometimes to a great extent.
3. Thought of BITCOIN being a scam.
There are numerous components that drive off financial specialists and the vast majority of them will effectively get frightened when they are individuals here in this gathering. There are numerous strings here posting negativeness of bitcoin and that incorporates getting hack by somebody or getting phished out from the programmers. Beside it could be dreadful if the trade itself is being hack and that your tokens or coins are on it and being taken away as of now.
The one that comes easily to mind is the fact that bitcoin is relatively a new asset class, unlike what people are used to traditionally.The rule are a bit diiferent and the risks are higher
There will be a lot of factors that scares everyone to invest in bitcoin but a preponderance percentage of it will be the feel of uncertainty wherein people aren't brave enough to take the risks and prove to themselves that it is really worthy. They tend to rule out negativity without even trying.
Many factors cause people to fear investing in bitcon.
1. Legality issues, bitcoin is still illegal in some countries.
2. Prone abused (hacking).
3. Very extreme price fluctuations
4. Many fraud mode, in 2015 there has been a case of fraud by a citizen of the United States named Trendon Shavers. He founded the Bitcoin stock exchange firm called Bitcoin Saving. Shaver was later found guilty of having cheated Ponzi schemes worth US $ 150 million.
5. Unclear tax rules
1. Legality issues, bitcoin is still illegal in some countries.
2. Prone abused (hacking).
3. Very extreme price fluctuations
4. Many fraud mode, in 2015 there has been a case of fraud by a citizen of the United States named Trendon Shavers. He founded the Bitcoin stock exchange firm called Bitcoin Saving. Shaver was later found guilty of having cheated Ponzi schemes worth US $ 150 million.
5. Unclear tax rules
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