Topic: What's the view of an average citizen About crypto currencies - page 2. (Read 1206 times)

I think it doesn't only depend on the country, but more depends on the environment around you because everyone can still use Bitcoin for investment or to trade on certain exchanges even though the country itself has not made a statement about wanting to fully support Bitcoin. So even though it is not supported by the state, every citizen can still buy Bitcoin without having to tell everyone in their own country so the view about Bitcoin actually depends more on each individual themselves in terms of understanding it.

How can they say Bitcoin is like gambling if they themselves are not familiar with Bitcoin and do not have standard education to understand how the Bitcoin system and the financial system that has been formed at this time. So it would be very strange if they judged it like that as long as they still don't know about Bitcoin and if in your area there are still more people like that, I think you need to implement the option not to tell about Bitcoin directly to every resident there.

So that you don't waste more time arguing with them, but on the one hand you have to influence them to read more news that can direct them into Bitcoin. So that they can have the intention to find out for themselves about Bitcoin and other cryptocurrencies after feeling curious about what they have read on the internet or in other media.

With all due respect, we also need to take in consideration the average level of knowledge of the people we are talking about because the same situation could be very different depending on the country: you can still live in a rural environment but if you are used to take advantage of new technologies for your work, even if you're a farmer for example, there is a good chance that you can understand what bitcoin is. On the other hand, if you are used to do things like your father and your grandfather did, meaning that you don't really care about new things, then you won't get it.

If there are few educated people in the society then it is very difficult to discuss or describe bitcoin in that society. People in the rural environment where I live are not that educated. I couldn't get them to understand Bitcoin in any way. On the other hand, while explaining about Bitcoin among some of our citizens, they explained to me that it is like gambling.

Your question is what the view of an average citizen is regarding crypto currency. Though you digress from your question, the fact remains that the view of citizens regarding crypto currency depends on the country. For some country I can tell you categorically that they haven't even heard of cryptocurrency and its a novel idea to them, so I will say, it is relative. It depends on the country.

In my country, people are still not interested in Bitcoin and cryptocurrency because they prefer a more conventional type of investment. A few per cent of people invested in Bitcoin. Waqar Zaka, A crypto influencer, influenced many people to invest in Bitcoin. At the government level, our state bank warned banks and investors not to indulge in any crypto-related activity because of market fluctuation and the risk of fraudulent projects.

That is exactly how people think about Bitcoin in my city some believe it's more like a Ponzi scheme due to it price fluctuation, some set of people never believe in any form of online or digital currency they classified it as fraud probably it's due to their lack of exposure and not knowledgeable about digital currency unfortunately some would never succumb to pressure in accepting it, they only believe in fiat thus deals with bank directly this is common among the elderly individuals, however some set of enlightened young individuals mostly youths and highly educated ones believe in crypto currencies and infact invested in it, though I believe with time there is going to be gradual adoption of crypto currencies.

If we should start considering people's view about crypto or bitcoin then we will hear different opinions and sometimes those opinions are not valid so it's best to focus on how they can adopt and know more about bitcoin.
Some might tag such investment as a get rich scheme, scam scheme due to past experience dealing with the internet, most people tag the internet as something that's related to scammers but this is not actually right, people like this have refused to grow their mindset that's why we still hear stories and lament about scammers. Bitcoin has come to stay and with the adoption increase it shows people have accepted the fact that bitcoin investment can be use to store wealth for future purpose.

Many people make the mistake of entrusting their investments to others. They believe that by simply investing their money, they can sit back and wait for their investment to generate returns and earn interest, similar to HYIP. They do not take the time to educate themselves about the process of investing in Bitcoin and instead rely on others to invest on their behalf, which can be problematic.

I have relatively similar thought on average citizen as either they consider Bitcoin as a scam or something which can make them rich as there are lot of people who invest in Bitcoin through third parties or through agents without even knowing about its functionality and these users have been interest in Bitcoin for profit who got to now after Bitcoin during bullrun rally. They don't care about what goes around with Bitcoin as long as they don't lose their money and continue earning profit. It's just like any other investment asset or digital payment method for them.

You just expressed precisely what I was thinking. Although it's simple to get swept up in the excitement around Bitcoin's price explosion, it's important to maintain balance and take into consideration the all-time lows as well. I completely agree with your analysis of the views of average individuals toward Bitcoin. It appears that most people are more interested in quick profits than in long-term investments. They overlook the fact that Bitcoin isn't like any other token you may invest in today and start making profit on the following year. Long-term Hodling of Bitcoin is required to realize its full potential.

Learning while making money in crypto doesn't always work in the same way for everyone. There are two main ways to learn crypto, by studying and through experience. Some people may not grasp a concept fully, even if they spend a lot of time studying cryptocurrency. Reading and doing research alone may not be enough to give them the same level of understanding as crypto enthusiasts who have been involved in the field for years. To understand what crypto is, newbies need to experience it for themselves. This can take time, but it is an important step in building a strong foundation of knowledge.

Perhaps because they operate in a more uncontrolled atmosphere than traditional financial markets, maybe that is why some people view cryptocurrencies as fraudulent investment tool. I believe that in particular places, the lack of complete oversight can give rise to fraudulent schemes. Another factor is that the bitcoin market is notoriously volatile, as we are all aware. As a result, there can be large and sudden fluctuations in cryptocurrency prices. This can lead some people to think that the market is rigged, which could make investing riskier for them.
 
However, due to the huge price increase that bitcoin has had since it was introduced, some people may view it as a chance to make quick money through investment. I believe that the hype surrounding cryptocurrencies in the media can sway public opinion and draw in more investors looking for easy money. Specifically, individuals who share their success stories can mislead the general public into believing that investing in cryptocurrencies will result in large, rapid profits, which is untrue because patience and waiting for the right opportunity are prerequisites for making a profit.

As the price goes up... more people will notice, driving more people in. After a couple more halvings, we might see some sort of black hole effect

Being a currency and wish to have put some money in it are two very different concepts. Until now I would say that bitcoin worked extremely well as investment, and the growth of value helped a lot to get more interest from people; regarding the currency part we are still quite far from any kind of mass adoption, we can't deny that, we still have a long path in front of us.

Average people never see bitcoin as a gem or long term asset, but most likely like a passing trend that will lost its way when a better one is coming. And they don’t believe that the future is in bitcoin, since bitcoin is just a digital currency that will not even over power fiat currency and the traditional investments. They’re happy with bitcoin, but they’ll never be sad and affected when bitcoin is gone. That’s make them different from us as we might go broke and completely upset if one day bitcoin will be gone.

Many people consider cryptocurrencies to be a fraudulent investment tool, while some see it as an investment that can yield quick profits by merely investing. In our country, news programs only cover cryptocurrency when someone falls victim to a scam involving it. In contrast, in other countries, developments such as the acceptance of Bitcoin as payment by a business or area are seen as positive news that deserves coverage.

People's mindset about crypto should have changed so far and they are starting to realize that bitcoin is a good investment asset to hold in the long term. There are many influencers who tell them on social media, it makes the public more educated because of it. Of course the public still needs to understand and learn for themselves about the justification, but as far as I can see, they already know bitcoin is an asset that can provide long-term returns based on its history and value volatility.

Bitcoin is not a legal currency in many countries, including Indonesia. So the average Indonesian citizen only uses bitcoin as an investment and trading asset instead of currency. The law prohibits us from using bitcoin as a legal currency, but the government legalizes and regulates us to trade and invest. This can change people's paradigm towards bitcoin so that they know what the use of bitcoin is in the long term.

Unfortunately they'll witness how great Bitcoin will become and they won't be part of the beneficiaries of Bitcoin profits. Anybody having the thought of Bitcoin being a short term investment assets won't benefit fully from Bitcoin. You get more benefits when you're a hodler. The average person still thinks Bitcoin is a scam and online scammers are those making use of it. The government aren't helping as they're contributing to the negative publicity that Bitcoin is getting but everything is temporary as the true nature of Bitcoin will come out to the public eventually.


Carrying out your personal investigation before investing into any assets is vital, when Bitcoin stories get overrated with too good to be true stories, there's always an agenda behind such stories and in most cases, the story teller is trying to sell his altcoins or other projects that he's involved in. People have made unbelievable gains from investing in Bitcoin but don't believe everything you read on the web as the web is full of lies and lasting what the average man thinks about Bitcoin can always change as they get to understand Bitcoin more better.

Average citizens do not actually see bitcoin as a long term and life changing investment, but more of a short term lived and after that, it will suddenly vanish and replace with something new in the market. I knew it because that was also my perspective about bitcoin when I still didn’t know it this much. But eventually, when you happen to witness and study the history of bitcoin, and how its price moves amazingly, your whole perspective will change and most likely don’t want to miss any opportunity related to bitcoin.

However, even if bitcoin becomes the trend in the internet these days, it’s still a safe idea to make your own research about it. Don’t be carried away by the different stories of the people that have engaged with bitcoin, some might be overrated that one may start doubting it if it’s actually real or not. Have your own research and discover on your own the reality about bitcoin. You can never testify about bitcoin until you start to experience and get engaged with bitcoin.

Learning how to make money and how technology works and understanding the risks that can arise through this way of making money I think can be done by everyone at the same time. Because in one full day someone can see how to produce and the risks that arise from these methods and that person can also use time on the same day to see how any technology works with full focus on these three things. Because for someone who has full focus in studying anything, I think it won't take long to understand all three while learning something.