Depends on how a specific person introduced bitcoin to the other person. Because there were some, who believed in hype, that it will make them rich in no time once it will pump really high, yet they didnt even understand how volatile btc is.
The main factor that scare people away from investing is volatility. Weakhands cant handle the pressure when btc falls hard, and thats where panic selling takes place.
Topic: What factors scare others from investing into bitcoin? - page 61. (Read 4232 times)
I think the power of the media is most likely to scare people who are investing in BTC!
The media reports that BTC is not good will affect those who have just invested in BTC!
They do not understand BTC. Information about BTC is obtained through the media!
The media reports that BTC is not good will affect those who have just invested in BTC!
They do not understand BTC. Information about BTC is obtained through the media!
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. Guys, what are some other factors that scare people from investing into bitcoin?
Other factors that scares people from investing bitcoin is the condition of the market. The fluctuations of bitcoin in the market can literally affect the investor's thinking especially when they lack knowledge and strategies about cryptocurrency. Another factor is the negative impressions or gossips of other people to bitcoin.
The biggest problem right now that could be scaring people from investing into bitcoin is the high volatility, nobody can afford to lose some money. Another is the issue of legality, since bitcoin is clamped down in most countries. Other issues if concern are scam, lack of a knowledge and fake information from institutions.
I think the fake news, scams and the risk of investment that may encounter of investors is the factors that scares most because of bitcoin volatility, some investors don't really know when to gain profit or afraid of losing its investment, but I think they should take that risk because it is a part of the game in investment, most of the crypto people already gain millions and become wealthy and that's the steps I want to follow.
Some people do not want to take the risks to lose their money, they are afraid to be scammed because they don' t actually understand how bitcoin works.
Maybe people scared from scams they don't want to lose their money that's why they are afraid in investing into bitcoin, because there are people used bitcoin in a wrong way.
Agreed, the volatility the markets give sound is horrible for the uneducated people. Personally, I think it because the media who give a biased news about cryptocurrency markets, and make mainstream scare about the volatility. If we look a few years back when BItcoin still at accumulation period, and compare it after it has done the bull run. I believe it will be interesting assets for investors.
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. Guys, what are some other factors that scare people from investing into bitcoin?
sometimes it sounds too good to be true. people will listen attentively but they are mostly interested in the technological aspect, but to actually invest is a different story. most people won't invest in anything really.
Most important factor that scares people from investing in btc is market's volatility.
If you only invest money you afford to risk, then you should not be scared about market fluctuations.
If you only invest money you afford to risk, then you should not be scared about market fluctuations.
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. Guys, what are some other factors that scare people from investing into bitcoin?
The major thing I believe that scare people away from bitcoin is the fact that it is abstract! No one to report to should in case of any loss for restoration/redemption. Also, the issue of ponzi have created a strong barrier shock in people's heart making it difficult to now accept the realities of the bitcoin
I think the main factors scare others from investing into bitcoin is the legality issue, some other countries do not accept bitcoin and also the lack of awareness and knowledge of the people, they do not understand and they don't know how bitcoin works.
I believe what scares people mostly away from in vesting in bitcoin is largely based on the global acceptability of bitcoin. Bitcoins are still only accepted by a very small group of online merchants. This makes it unfeasible to completely rely on Bitcoins as a currency. There is also a possibility that governments might force merchants to not use Bitcoins to ensure that users’ transactions can be tracked.
Another reason is that Wallets Can Be Lost. If a hard drive crashes, or a virus corrupts data , and the wallet file is corrupted, Bitcoins have essentially been “lost”. There is nothing that can done to recover it. These coins will be forever orphaned in the system. This can bankrupt a wealthy Bitcoin investor within seconds with no way form of recovery. The coins the investor owned will also be permanently orphaned. Also the prize is not always stable and this can also cause a leap in profit.
People are scared because not a lot of merchants accept Bitcoin? It doesn't seem like it's one of the main reasons that's stopping others from investing not everyone here is looking to spend their Bitcoin most of us are here for the profits. Why do you think there's a possibility? Bitcoin transactions can be tracked down too since everything is on the blockchain. Losing a wallet is not a big factor here it depends on which type of wallet you're using because not all wallets give you a wallet.dat there are different ways of backing up your wallet. Another reason is that Wallets Can Be Lost. If a hard drive crashes, or a virus corrupts data , and the wallet file is corrupted, Bitcoins have essentially been “lost”. There is nothing that can done to recover it. These coins will be forever orphaned in the system. This can bankrupt a wealthy Bitcoin investor within seconds with no way form of recovery. The coins the investor owned will also be permanently orphaned. Also the prize is not always stable and this can also cause a leap in profit.
Manipulation, volatility, were the major factors that scare the people scare about making an investment into bitcoin. When they go through the truth behind this, they will not consider it a factor to get scare. Because one who consider it in the positive manner benefits big. The manipulation will be used as an opportunity to invest at a lower price, without volatility bitcoin will be normal fiat which none likes.
The legal issue is scary sometimes. If my country bans bitcoins in future, I will be in huge loss.
Going to the bank as a newbie trying to fund your first wire transfer after getting all the work done to register on an exchange.
The person goes up to the teller and is then being told by the banking institution that they have never heard of the wiring company.
This is then followed up by this does not seem like a legitimate service provider or the teller asking for what purposes is this wire being sent?
If you say for cryptocurrency then you get a response our bank does not allow individuals to send any money from your account credit or debit account for the purposes of buying cryptocurrency.
As you leave the bank walking out you think what is this bullshit and or are left with a feeling of fear, while the largest banks continue investing in blockchain leaving users and personal investors alone and without options as they will be dissuaded by this terrible experience.
The person goes up to the teller and is then being told by the banking institution that they have never heard of the wiring company.
This is then followed up by this does not seem like a legitimate service provider or the teller asking for what purposes is this wire being sent?
If you say for cryptocurrency then you get a response our bank does not allow individuals to send any money from your account credit or debit account for the purposes of buying cryptocurrency.
As you leave the bank walking out you think what is this bullshit and or are left with a feeling of fear, while the largest banks continue investing in blockchain leaving users and personal investors alone and without options as they will be dissuaded by this terrible experience.
I think that the second mkst common thing that scares people is - is it legit? Even though the person you are talking to might trust you, they can't be sure if Bitcoin is a scam or some scheme. The reason could be a poor explanation or just doubt. Some people don't like investing, not because they think they will lose money, it can be because they don't have time or will to put their money into Bitcoin and follow the prices.
they are afraid to invest in bitcoin for fear the price will fall and will cause harm to them. as well as bitcoin have not been fully acceptable globally, and are only accepted by some online merchants. this is possible, they think that bitcoin can not be relied upon as currency.
I believe that the legality of bitcoin and its volatility is the thing that scares people from investing. There are many countries that prohibit the use of bitcoin. Secondly, the price of bitcoin spiked to $20k last December and then jumped down to $6k (more or less) today, people fears that their investment might fail if the price goes down so much again.
There is a saying,, knowledge is power.. So lacking with it will scares someone from anything.. They have no clue and ignorance of what cryptocurrency really made of from the start.. This is something that is missing all the time to this people.. Factors that makes them uninterested to this topic are;
Government stands - discourage about its position because of legality basis..
Social Media - they have time for it all day,, but nothing on a much important things..
Mainstream News - negative ones that can ruin the crypto world is circulating in this paid media sites..
Government stands - discourage about its position because of legality basis..
Social Media - they have time for it all day,, but nothing on a much important things..
Mainstream News - negative ones that can ruin the crypto world is circulating in this paid media sites..
Jump to: