Why do ordinary people feel afraid of Bitcoin? - page 15.

Kasabus

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The answer is simple - they do not understand how cryptocurrencies and blockchain work.

Indeed, they don't bother to know it more and they might discover something which is more helpful than what they are doing now.

A close-minded person will never see the benefit that we might get from crypto and that is the thing they missed. If they are going to change their mindset and welcome other opportunities, they will appreciate crypto.

Anyways, it is to say that crypto isn't for everyone, this is only for a person who able to take higher risks and willing to change their life.

ashmodeus

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basically because the perception about bitcoin its wrong already. u know, based on history bitcoin is nothing to something , if we think with infinite mindset, mostly also same, even for gold, what gold at the beginning ? why prices soo expensive right now ? , but why people still have a same think about bitcoin even after 10 years ? , no educional for it , and the bad thing about it, someone already know about bitcoin, give a wrong education about bitcoin to get selfish profit by scamming people, then the victim tell a wrong story about bitcoin to any people , and the news spead so fast like a wind. Goverment indeed give a educational for gold, but not for bitcoin. so that the problem. people have own think about bitcoin which it mostly wrong.

panganib999

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Quote from: mezzaluna on February 24, 2021, 04:56:14 AM

Quote from: Wipeout2097 on February 19, 2021, 10:53:41 AM

Really Conventional individuals as it were fear approximately the modern things.Most of scams existing online as A result numerous fake things are here to require our cash. Particularly in online, we are constrained to confront a tremendous things with fake philosophy. Most of the things attempt to trick our cash at anycost. So we ought to be mindful almost the fake one. Indeed numerous trades are fake one to take our cash. We ought to dodge trick projects,scam coins and scam exchanges.Doing proper research and just invest and trade with real coins like Bitcoin.

This conventional individuals can also be a bunch of close-minded people and that is one reason they are not aboard something that is new. Close-minded individuals will keep looking for ways to badmouth or discriminate something made for the greater good. I believe that they can only change their mind when a close person within their circle of friends or even family teaches them on how beneficial Cryptocurrencies can be and people should just try to see things with an open perspective.

Actually not all people are close-minded, its just they are those people who doesn't really understand how bitcoin works. Okay, they just heard of it yet they don't know other meaning or how works about bitcoin. These people aren't started to realize how bitcoin is a big deal to us and how this coin helps us to earn and make profits. Ordinary people are always gonna find some things in order to make profit and earn money and eventually they will realize that bitcoin is one of the big deal and will start to learn. they are not scared but they are lack of knowledge and background about bitcoin.

mezzaluna

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Quote from: Wipeout2097 on February 19, 2021, 10:53:41 AM

Really Conventional individuals as it were fear approximately the modern things.Most of scams existing online as A result numerous fake things are here to require our cash. Particularly in online, we are constrained to confront a tremendous things with fake philosophy. Most of the things attempt to trick our cash at anycost. So we ought to be mindful almost the fake one. Indeed numerous trades are fake one to take our cash. We ought to dodge trick projects,scam coins and scam exchanges.Doing proper research and just invest and trade with real coins like Bitcoin.

This conventional individuals can also be a bunch of close-minded people and that is one reason they are not aboard something that is new. Close-minded individuals will keep looking for ways to badmouth or discriminate something made for the greater good. I believe that they can only change their mind when a close person within their circle of friends or even family teaches them on how beneficial Cryptocurrencies can be and people should just try to see things with an open perspective.

Sithara007

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It is not easy to remove the impact of many years of negative propaganda by the mainstream media. For a lot of ordinary people out there, Bitcoin is still a currency that is primarily used by hackers and drug peddlers. And then we have to deal with propaganda from the banks, who claim that Bitcoin has no intrinsic value and its exchange rate can go down to zero at any point in the future. With so many people getting scammed by online Ponzis and fraud, it is only natural that a section of the population believes in this propaganda.

blckhawk

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Quote from: LUCKMCFLY on February 23, 2021, 11:07:54 PM

I think the main reason why people are afraid of Bitcoin is because of the complete misinformation, they hardly hear it on television and the television stations advertise it as if it were something with little value, at least I have seen that. People must learn to know that some purchases can be made with bitcoin, while payment systems do not implement bitcoin is a little more difficult, especially for third world countries.

I partly agreed with this. I believed the problem is how the media portray crypto especially Bitcoin. I remember that way back then media only shows the negative impact of using Bitcoin like it is being used in some shady business which is pretty biased I think. I also remember that my family once heard the news regards it and they knew that I was using Bitcoin, they told me to stay away from it, but I explain everything. The point here is that media can have a big impact on everyone's mind so I hope that they should also consider proving a good impact of using these such technologies. Support from the government is also necessary for this one.

shoreno

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Quote from: LUCKMCFLY on February 23, 2021, 11:07:54 PM

I think the main reason why people are afraid of Bitcoin is because of the complete misinformation, they hardly hear it on television and the television stations advertise it as if it were something with little value, at least I have seen that. People must learn to know that some purchases can be made with bitcoin, while payment systems do not implement bitcoin is a little more difficult, especially for third world countries.

not just people but ordinary people because non ordinary people can be knowledeable already compare to the other type and there was no bitcoin before , airing on local/national t.v but even today even if btc is popular online i think btc are still rarely showed in the t.v . if they heard infos online that infos are going to be mixed of good and bad not just mostly bad infos . infos in the t.v can also be biased because we know that they are being paid to operate and they make a living with that.

LUCKMCFLY

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I think the main reason why people are afraid of Bitcoin is because of the complete misinformation, they hardly hear it on television and the television stations advertise it as if it were something with little value, at least I have seen that. People must learn to know that some purchases can be made with bitcoin, while payment systems do not implement bitcoin is a little more difficult, especially for third world countries.

Xinarae*

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The reason to be afraid of bitcoin is not just the rise and fall if you have no idea about bitcoin it will be difficult to use this currency. If you can't determine the exact price and signal of the market for investment you will be more likely to lose we need to try to move forward without fear if we gain knowledge by analyzing the market well, it will be easier to predict the future of bitcoin and it will be beneficial to increase the price through investment. Bitcoin is a more lucrative currency based on ups and downs we have to move forward with faith.

N2CoinOfficial

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People are scared about Bitcoin because it is a Digital Currency, where you can't predict or have a statement hand proof. If you analyze more and have good knowledge about Bitcoin, they can gain trust quickly.

Traderbtcc

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Quote from: maculeth on February 15, 2021, 12:22:44 PM

That is a very natural thing considering that bitcoin can be said to be like a bubble, it can pop at any time. call it when the market rose to the month of 2017, then suddenly fell very low in 2018. Such fast price movements make ordinary people very afraid to buy bitcoin, let alone invest in large quantities.

Yeah, alot of people are still scared of bitcoin due to this reason, they feel history will eventually repeat itself, but at the moment I don't see that happening, there's no way bitcoin can dump from the current price right now (which is $54,000+) down to $3k again, so I don't see any reason why they should still be afraid of bitcoin, it's no longer a bubble it is strong now due to more financial institutions holding it than whales who manipulate the market price to suit themselves.

ReiMomo

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Quote from: KyoRider on February 19, 2021, 02:00:08 AM

The main reason for this would be lack of knowledge, actually I wouldnt call it ordinary, they are just like unaware of what Bitcoin can give to them and in real life scenario, we know there are lot of scams so they are just being careful specially those middle ones as it can make them lose everything in a snap

That is surely the main reason, they always afraid and they don't have money that they can afford to lose, if they had money, why not they didn't invest in the thing that they can see. Just because the problem here is they had a lack of knowledge upon investing in bitcoin. I guess they worried about what they invest and mostly, ordinary people aren't very techy yet and involve in blockchain technology.

We can't blame them, instead let's show them how to manage risk upon investing crypto, From time to time bitcoin will become very popular and even these natural people will surely become interested in bitcoin.

pixie85

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Quote from: bosede1 on February 17, 2021, 08:07:01 AM

Some categories of people in my country will take you for a thieve, a smuggler, or a scammer if you ever tell them you are into bitcoin and the reason is not far fetched their mentality and knowledge of the so-called Bitcoin and ear say they have not actually sat down to read about it but carries what they heard from someone who heard from another somebody wrong information.

This can be categorized under lack of knowledge or misinformation. People in general don't know what they're doing. They lack basic math skills, don't know anything about finances.

If you ask someone what is a better investment a 10 stocks worth 100 USD or 1 stock worth 100 USD they'll say it's the cheaper one because there's more room for growth. THat's what average people know Cheesy

Wipeout2097

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Really Conventional individuals as it were fear approximately the modern things.Most of scams existing online as A result numerous fake things are here to require our cash. Particularly in online, we are constrained to confront a tremendous things with fake philosophy. Most of the things attempt to trick our cash at anycost. So we ought to be mindful almost the fake one. Indeed numerous trades are fake one to take our cash. We ought to dodge trick projects,scam coins and scam exchanges.Doing proper research and just invest and trade with real coins like Bitcoin.

KyoRider

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The main reason for this would be lack of knowledge, actually I wouldnt call it ordinary, they are just like unaware of what Bitcoin can give to them and in real life scenario, we know there are lot of scams so they are just being careful specially those middle ones as it can make them lose everything in a snap

Altcoinsintel

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Quote from: Alice_Yu5 on February 15, 2021, 12:07:06 PM

Nowadays, there are many ICOs, most of them are stupid and not worth it.

You haven't seen anything yet. ICOs in 2017 were coming in thousands. What we have today is very limited to what was happening a few years ago.

Quote from: Alice_Yu5 on February 15, 2021, 12:07:06 PM

The prosperity of encryption technology is just like the technological prosperity.

This is called cryptocurrency technology, it is not just about encryption. Encryption is just a small part, cryptocurrencies are networks running in a certain way and using cryptographic proofs to distinguish ownership and record transactions.

gabbie2010

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Quote from: bosede1 on February 17, 2021, 08:07:01 AM

Some categories of people in my country will take you for a thieve, a smuggler, or a scammer if you ever tell them you are into bitcoin and the reason is not far fetched their mentality and knowledge of the so-called Bitcoin and ear say they have not actually sat down to read about it but carries what they heard from someone who heard from another somebody wrong information.

To buttress your point the popular moribund ponzi scheme MMM once adopted bitcoin as their payment gateway for their teeming investors when the scheme bankrupted and collapsed a lot of their investors painted bitcoin in bad light whereas it was the MMM scheme was the main culprit thus becoming even more difficult to convince and educate people about bitcoin because of the bad experience they had with ponzi while lot of them always classifies bitcoin as scam and money doubler however it now obvious that the educated ones had started embracing it now having researched and seek relevant information on it.

Silberman

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Quote from: gurunanakji777 on February 17, 2021, 08:35:46 AM

In my opinion Ordinary people afraid of the high volatility of bitcoin even I also afraid sometimes due to the high volatility. Ordinary people buy gold just because of very little volatility and the chances of gaining it year by year are more, on the other hand, we have seen the last 3 years' performance of Btc how bitcoin drops to 3200$ so this is the main concern of ordinary people. I would say less volatility like in gold attracts more investors to the bitcoin.

That is without a doubt the factor, most people are very risk adverse, they want to obtain profits but they do not want to taste losses that are significant, the moment they do they get scared and they do not want to remain invested in that asset anymore, they see the potential in bitcoin but they also see that the price can go down relatively quickly and they do not want to go through that, unfortunately for them the assets that move like bitcoin are the ones that give the greatest profits so by having that attitude they are limiting themselves and the potential profits they can have.

Yamifoud

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Someone told me not long ago: Bitcoin is a dangerous game. It is even possible for some people or groups to take over the blockchain through a majority and destroy the entire mechanism. People don't know they are playing these games.

It is a dangerous game for those who are not prepared but for those who have knowledge about this, that gonna be an easy game for them. We can figure out how difficult it was at the start but as we are enjoying it, not emotionally affected by FUDS or anything that could ruin our plan, everything is fine.

But, this form of investment isn't for weak hands and emotional investors. Yeah, they could not handle the stress if they hear negative and bad news. Bonds and the stock market will be suited for them, they are profitable and many people make use of this for a living.

famososMuertos

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... your OP, it is a dilemma a blender of things that makes a bit of sense if I add the title ... whatever, I always ask how you arrive at that conclusion where the statistics are and it does not matter the field of study but to arrive at Such a conclusion must have some foundation in a field of study of people surveyed, perhaps mediocre by including only 10 people but at least you will have sustenance to reach that title of your thread.

It's not about fear, it's about adaptability to a new system, not just bitcoin, systems are established environments, people as a rule are reluctant to change. It is incredible to think that ordinary people do not worry about having at least a few satoshi, I commented on it in recent days on my local board, people are more given to making a fool of themselves in a social network, they want to make the world laugh, they cheer up with any social network but they are not encouraged with bitcoin and be part of this wonderful project, which will have its true adoption when ordinary people take it seriously and make up their minds use bitcoin.

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