Banks and governments is scared of Bitcoin and other decentralized cryptocurrencies - allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank.
Banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly.
Topic: Why are they afraid of bitcoin? - page 16. (Read 2669 times)
Why should they be afraid of bitcoin, bitcoin is not a monster, it seems they should learn more and know more about bitcoin"
I think they are afraid because unlike the fiat money system where they have more or less full control of the transactions, they have almost no control over the bitcoin value storage and transactions, because people store it on their pcs at home and do not use system infrastructure to transfer it.
fiat money is regulated and that is why it is controllable or manageable but in the case of bitcoin it is decentralized and that means no central authority that holds it. Bitcoin doesnt also have a physical form as it was only digital so again you cannot hold or control it. the only reason why they are afraid of bitcoin is that they think bitcoin is a scam due to the fact that bitcoin is only a digital currency. Bitcoin has also got a lot of bad reviews in the past And it does affect its reputation somehow.
They afraid bitcoin because of ignorance. 150 years ago, people afraided of railway and train, 100 years ago, people afraided of alternating current. There are people in all ages afraid of new things.
Lack of knowledge and insufficient information on the capability and opportunity of Bitcoin could give to us we definitely lead for not taking Bitcoin or not even notice Bitcoin. I think people much need to educate themselves for them to learn and to have the opportunity to earn and to gain profit.
I believe the one's who are afraid are those that are lacking knowledge on how the crypto world runs and mostly if their investment fails to grow and drop.
They are afraid because bitcoin may take the traditional money away specially with the government they know that this technology can make a good run in the future. People who do not know bitcoin are the one who afraid to take some risk and don't want to make money through this market. Some people who took risk are the real winner at the end of the day because cryptocurrency will be our future digital currency.
You have point in that scenario dude most people who have no knowledge in crypto world are those people that scared to enter in bitcoin world but people who learn the cryptocurrency are people that not afraid to invest their money to bitcoin and in some scenario government have no control to bitcoin transaction thats the reason they hate bitcoin even it has a bright future.
I think they are afraid because unlike the fiat money system where they have more or less full control of the transactions, they have almost no control over the bitcoin value storage and transactions, because people store it on their pcs at home and do not use system infrastructure to transfer it.
They are afraid of bitcoin because they do not know the bitcoin completely, but those who already understand and feel the benefits of bitcoin, will say positive things, so there needs to be a complete knowledge of bitcoin
I believe the one's who are afraid are those that are lacking knowledge on how the crypto world runs and mostly if their investment fails to grow and drop.
They are afraid because bitcoin may take the traditional money away specially with the government they know that this technology can make a good run in the future. People who do not know bitcoin are the one who afraid to take some risk and don't want to make money through this market. Some people who took risk are the real winner at the end of the day because cryptocurrency will be our future digital currency.
I believe the one's who are afraid are those that are lacking knowledge on how the crypto world runs and mostly if their investment fails to grow and drop.
I think there really is no reason to fear of bitcoin. Bitcoin gives a chance to all people to make their better economy. The people can get some profits by trading or investing bitcoin.
They are afraid of Bitcoin because it is risky, unpredictable and they don't have sufficient knowledge about it, they lack understanding on how it works and what it can bring to our future.
Sadly, most people are thinking of bitcoin as something "fake", and a waste of time. So why are they afraid of bitcoin? Well, its because they see bitcoin as a scam and ia used for dark transactions, on the other side of bitcoin is not as what you think it would be, bitcoin is essential, bitcoin is beneficial, and if you would try to study about it, you won't actually fear bitcoin.
They are afraid because they dont know and they have no knowledge all about bitcoin. All that they know that bitcoin is only a scam. They didnt even know what bitcoin will give into their lives.
It needs to be socialized about bitcoin so bitcoin can be well received, and not a scary thing, by giving positive information about bitcoin.
You cant blame them. There were really massive dumping of prices since january 2018. On december it was at 20k USd and now half of the price was gone. Too bad for those who bought at the all time high.
I think they are afraid of btc because governments see the dangers of btc threatening to manipulate their printing rights. So governments are trying to propagate btc's virtual value. The world's money every year is inflation because the government prints money too much compared to the actual needs of the people, while btc has finite numbers. When btc is more popular, btc will be like gold or diamond.
The first time we heard about bitcoin give us the idea that it was a scam. We can't be blame for that since scams are everywhere. People just needed someone to show them that bitcoin is real. For me, I started believing in bitcoin when friends introduced it me to I saw the potential earning. It is not hard for me to believe as long as I trust them.
Why are u think that they afraid?
Maybe they all have mining farms in their gardens...
People are afraid to bitcoin maybe because they think that bitcoin is a scam that why they are afraid to invest in bitcoin but they don't know what bitcoin can give to their lives ,people are hard to give their trust because of the first people broke it that's why it's hard for them to give it .that's the reason why . Maybe they all have mining farms in their gardens...
They are just afraid because they don't trust bitcoin at all. They think they are just loosing and wasting money if they try at bitcoin. Most of them are lack of ideas and information of what is bitcoin, some of them thinks that bitcoin is just a scam. They really don't know all about bitcoin of how it helps and changes the lives of people who believes and invests at it.
Exactly, which they don't have enough knowledge about bitcoin that's why they are afraid. Maybe, if they are going to invest they will afraid to have losses which is part of this business. Also, if we try to discuss further informations about bitcoin for sure their mind will be enlighten and to work here as part of this forum which the only things to do is to guide them since they have no idea about bitcoin.
They are just afraid because they don't trust bitcoin at all. They think they are just loosing and wasting money if they try at bitcoin. Most of them are lack of ideas and information of what is bitcoin, some of them thinks that bitcoin is just a scam. They really don't know all about bitcoin of how it helps and changes the lives of people who believes and invests at it.
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