Topic: What will keep people from getting into cryptocurrency? (Read 3457 times)
I think because they also have good experience about crypto. And if people know all about it, i mustnsay they should know why and what is happening then and now in crypto.
The reason people don't trust electronic money:
- A lot of rumors about this market.
- They are afraid of risk because the price of bitcoin drops.
- Some countries still think this is illegal.
- A lot of rumors about this market.
- They are afraid of risk because the price of bitcoin drops.
- Some countries still think this is illegal.
Most people are unsure about the future of cryptocurrency, I am talking about the general people or people with orthodox mindset. Also, newcomers are currently thinking more than twice before getting them indulged with cryptocurrency because governments are putting restrictions and also the usability feature is lacking, investors find it more convenient and safe to invest in stock markets rather than cryptos, lack of support is one of the cause.
A support from the government followed by the coverage of news media and few big companies adopting it as a payment option or at least giving a support statement can possibly not only keep people getting into cryptocurrency but also will increase the volume of use.
First up, I think we should mention to the recognization. You know cryptocurrency, bitcoin, for example, does not accept worldwide from most various parts of the wolrd. Especially, some of us probably used to hear about some governments impose a ban on this digital currency. Next, no one can give those who don’t know anything about cryptocurrency an insurance about its future ( obviously it seems quite vague). Thirdly, the bad news such as scram, hack, that sort of ụnsured things which make most people get skeptical and keep a pace with digital currency stage. If someday crypto is accepted officially, there is no doubt that people will roll in crowdedly. A support from the government followed by the coverage of news media and few big companies adopting it as a payment option or at least giving a support statement can possibly not only keep people getting into cryptocurrency but also will increase the volume of use.
People know little about crypto-currencies and do not want to learn. Something new people always reacted negatively.
I think there's still a general feeling of hesitation towards decentralization. It involves a completely different paradigm as to how to perceive value and the world in general. Such a change will take decades before everyone thoroughly understand the benefits.
I think you are right in your opinion because one of the most basic reasons is the legality of its use in many countries that still prohibit cryptocurrencies in the country 
I think the power of blockchain it is a big help in the cryptocurrency the product of blockchain which is bitcoin is so powerful that could changes into future system of currency. Cryptocurrency will definetly be better if people have trust and have an idea to be more secured including personal private key or access pass on there wallet.
unclear regulations, risk of falling prices, and also prohibitions from governments from various countries. new people who will enter the crypto world, they must always consider it.
I think that preventing a lot of people who are afraid to enter the world of cryptocurrency is regulations and regulations from several countries that prohibit the use and circulation of bitcoin so that they are prospective new traders are afraid to buy bitcoin and are afraid to enter the world of cryptocurrency.
I thought about the unpredictability of bitcoin and its current status and it made me realized that this might drive people away from getting into cryptocurrency. What do you think are the other reasons that will keep people from using bitcoin?
Bitcoin and blockchain in general is still hard to be perceived by elder people and those representatives of middle-class who got used to traditional banks.You need to make a wallet, to make it as secure as possible, to calculate fees when making a transaction - all that is rather complicated for an average newcomer.
So this technical side is the main obstacle on the way of massive adoption of crypto.
Garbled news about Bitcoin and hackers may be the things which can tarnish the image of cryptocurrencies. Most of the common investors wont get into crypto because they wont be having complete knowledge so education regarding crypto is needed.
I thought about the unpredictability of bitcoin and its current status and it made me realized that this might drive people away from getting into cryptocurrency. What do you think are the other reasons that will keep people from using bitcoin?
For me what will keep me from getting crypto currency is because i am positive that upon investing and keeping crypto currencies will give me more opportunities to earn more income.
Lack of knowledge prevents people from learning advantages of cryptos over fiat money. There is a fear of something completely new – digital currencies are still considered strange by the majority, as you can't touch or actually see them. Finally, the risks of the unpredictable market can frighten even experienced investors. But the world is rapidly changing; and if you can’t adapt to it, you will left far behind.
Well, even how bad the current status of the crypto market now, the people are keep on having, using and getting into crypto currencies because of the different benefits and advantages it have compared to the fiat currencies we currently using. Crypto currencies isn't something just to be said that you are in flow of the era but it is because crypto currencies makes life more convenient when it comes to financial transactions and processes.
If you are educated and have more informations about cryptos , and you have experienced great benefits bitcoin has been tried as investments then we csn say that people will always be getting into cryptocurrency every now and then ,for so far after joining cryptos they have aquired so much gains or profits while joining crypto currency.
About 80% of people that enter crypto is as a result of FOMO. After hearing or reading the news about the great surge or rise of Bitcoin or the market to a new higher price, investors troop in to make their share of the profit. FOMO is good for crypto to shoot with an incredible price.
I thought about the unpredictability of bitcoin and its current status and it made me realized that this might drive people away from getting into cryptocurrency. What do you think are the other reasons that will keep people from using bitcoin?
Bitcoin as a digital asset that has a high enough value due to several things. Among other things, not influenced by politics, and limited supply. Because bitcoin's limited by mathematical algorithms and as a blockchain implementation it means that bitcoin's not easily forged or duplicated.
Many people use bitcoin because it's driven by its speculative value, easy to invest and easily transacted. Regardless of the nominal invested the investment will run as usual.
Some of the ressons why most people dont get into bitcoin It’s because it volatile nature the current problem with cryptocurrency is that its price is very unpredictable. Today the price is high the tomorrow it’s down. Due to this investors are scared to invest because they cannot predict how the market will behave. Even with Bitcoin having been working well you cannot still term it stable.People see Bitcoin as a Ponzi scheme The talk of Ponzi scheme has existed for some time.
It is interesting that you say that many people do not get in bitcoin because of its volatility and yet one of the most important reasons of why people get into bitcoin in the first place is the volatility to, people love the volatility of bitcoin because it allows to them to make a lot of money in a relatively short amount of time, the amount of money that you can make in bitcoin is incredible. 
I think that they are just scared of losing their money, they don't know how they could live with thoughts that their money is put in something that they could not speculate and they don't know how they will react in situation when the price of coin will be going less and less.
Of course it is regulations regarding cryptocurrency, people don't want to get into trouble with law by buying something that is prohibited by the government. If the government give green light to crypto then I am sure a lot of people will put their money into crypto. I don't think the price volatily will scare people because that's one of the charm of crypto as a high risk high reward investment.
hi Diablesfunis, If you consider a big bank - institution in the USA - supporting or even encourage trading with crypto currencies,can we infer it is a first step in the legalization?
Have a look at this
https://cointelegraph.com/news/bloomberg-morgan-stanley-plans-bitcoin-trading-for-clients
Of course it is regulations regarding cryptocurrency, people don't want to get into trouble with law by buying something that is prohibited by the government. If the government give green light to crypto then I am sure a lot of people will put their money into crypto. I don't think the price volatily will scare people because that's one of the charm of crypto as a high risk high reward investment.
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