Topic: What factors scare others from investing into bitcoin? - page 63. (Read 4232 times)
I believe the most common factors why people scares from investing is the market price volatility because the market can easily drops value without valid explanation and its very hard to predict its movement.
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?
horrible past experience might be another reasons some people are scared of investing in bitcoin. A guy saw me browsing crypto trading platform yesterday in a cafe. he came close to me and ask 'are people still investing in bitcoin?' i told him yes but he responded by saying he stop trading and investing in bitcoin because he lost his initial investment. another reasons I have discover is past experience with ponzi schemes that pay using crypto but later turn to scam. such people that fall victim will not even listen to you when you wanna talk about bitcoin to them not to talk about investing with their money.
Volatility is the main reason that scaring the investors whether they or old or new investor if they came here just to make money from the bitcoin.And the bubble story keep the rookie investors in panic conditions always when they are getting away from the bitcoin it will cause the price to fall more so causes the rapid price fall in the crypto prices.And other reason that many people who don't know what is the technology behind the bitcoin are think that the ponzi scheme so they keep telling the other new people not to invest on the bitcoin which scaring them.
There are many factors due to which an individual is scared to invest in Bitcoin
- volatility- The high volatility causes huge price fluctuations due to which people are scared in investing into BTC
- Legalisation- Bitcoin is not yet legalized in many countries which make people step back from investing into BTC
- Scams- Many people get scammed investing BTC into scam ICOs which has also become a factor now.
- fear- fear is a major factor why people don't invest in BTC. The fear of loss cannot be taken by many people.
- technology- many people are still unaware of how to use the Bitcoin and the blockchain technology which is why they have not yet invest into it.
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?
People tend to be afraid because they don't usually know what is it that they are going to invest it in. So maybe if people just want to be eager to know it then they will try to go for it.
Perhaps one of the main factors is to ignore people about bitcoin, where my country lives is still lacking in bitcoin socialization, what else the government has yet to legalize bitcoin, so it is unlikely to invest in bitcoin.
I think that the biggest fear of newcomers is that they won't be able to cashout the funds back after they invested in and turned out to be in a profit.
We should focus on showing the features of bitcoin- including the fact that no one is able to revert a transaction after it has been sent( which is sometimes make newcomers to fear because unlike traditional cash they won't be able to call their bank later and to cancel the payment in case they realize that they got scammed).
We should focus on showing that bitcoin transactions are the most safest in the world because no one can block your account or ban you, unlike traditional cash accounts.
We should focus on showing the features of bitcoin- including the fact that no one is able to revert a transaction after it has been sent( which is sometimes make newcomers to fear because unlike traditional cash they won't be able to call their bank later and to cancel the payment in case they realize that they got scammed).
We should focus on showing that bitcoin transactions are the most safest in the world because no one can block your account or ban you, unlike traditional cash accounts.
You answered your own question in the subject line.
Because bitcoin is currently an INVESTMENT. It is not currently MONEY. The average guy that normally buys things with money cannot use bitcoin because it’s more difficult to get than his local fiat. If his employer paid him in bitcoin then bitcoin would be used to pay for the things he needs.
Not everyone owns gold or silver, invests in the stock market, buys bonds or invests at all. If fact, fewer people than ever before even have a savings account. Retirement accounts are becoming a thing of the past. Most of them are living paycheck to paycheck. If they have no money to risk on a volatile investment they will not buy bitcoin. Instead will opt to buy food and housing with their money.
Because bitcoin is currently an INVESTMENT. It is not currently MONEY. The average guy that normally buys things with money cannot use bitcoin because it’s more difficult to get than his local fiat. If his employer paid him in bitcoin then bitcoin would be used to pay for the things he needs.
Not everyone owns gold or silver, invests in the stock market, buys bonds or invests at all. If fact, fewer people than ever before even have a savings account. Retirement accounts are becoming a thing of the past. Most of them are living paycheck to paycheck. If they have no money to risk on a volatile investment they will not buy bitcoin. Instead will opt to buy food and housing with their money.
many factors that make people afraid to invest bitcoin apart from news news that often affect bitcoin prices is about predictions that say bitcoin will die soon because of that people start afraid to invest
I think that people are afraid of investing in bitcoin to reduce its price, they think that it will continue to decline, I also think that it will rise in 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. Guys, what are some other factors that scare people from investing into bitcoin?
Losing money of course, some stay because they want to risk and others are standing on the side and watching closely what is happening and simply knowing that bitcoin exist. You have to understand that we are not even near the adoption level that we should be and thus knowing this not many people are interested. First of we have to make bitcoin more usable and to achieve that we have to make it to have more stable price. Because you don't want to wake up in two years to figure out that when you spent your 100$ worth at a time to buy some items now it would have value over a 100k$ or more.
I think people have a particular fear before investing in bitcoin. I think the biggest worry of many investors before deciding to invest in bitcoin is unstable profit and the big threat from the hacker. So few investors agreed to take the risk to make a profit from bitcoin.
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.
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.
I will say people have their own opinion about bitcoin, maybe minor experiences of scammers going into it for their selfish reasons all these have contributed to people not having a thought to invest it scare people away a bit.. I guess when someone lacks information he is deformed all round
Some people who don't know bitcoin have seen it fluctuate so much that they think it's just a ponzi scheme, but that's wrong.
But that's because they don't understand blockchains and bitcoin.
But that's because they don't understand blockchains and bitcoin.
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?
So others are afraid to invest in bitcoins because of the flactuating Bitcoins price.They are afraid that the price of bitcoins has fallen. So they really need to know the bitcoins before they invest. And of course you should be patient if the price of bitcoins falls as a result of it can achieve success and gain bigger profits.
Hi, don't considering people who never invested money in their life and never will do, some people are scared of investing in bitcoin because they think it's a scam. other people don't invest because they don't understand bitcoin and how it works (like Warren Buffett) and others because are scared to lose too much money.
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.
this is the problem, when you introduce bitcoin to others you tell them "it is a tool to get rich because it is going to the moon" so they become skeptical specially when they see the price swings. obviously people won't invest in something like that.
but if you introduce bitcoin properly as what it really is then they won't turn around from buying bitcoin. bitcoin is a decentralized currency and people should buy it instead of investing in it and want to get rich.
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?
Some people will not join this investment because of the KYC in which they.might have secrets that may reveal like tax invasions or maybe they have some offense records in which they can't really to join the investments. Others fear the KYC because they don't like the inconvenience way during their investments processing because its time wasting for them due to some of the ICO's that are using Bitcoin platform takes long time of approving the KYC.
Potential investors loses interest in investing bitcoin because the mainstream media is spreading news that bitcoin is nothing but a ponzi scheme so those with only little knowledge of bitcoin easily believes it and avoids it. Another main factor is volatility we all know that btc is very unstable currency but you can also capitalize from it unlike in the stagnant stock market.
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