Why do ordinary people feel afraid of Bitcoin? - page 17.

mezzaluna

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Quote from: Alice_Yu5 on February 15, 2021, 01:07:06 PM

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.

From this sentence, you could already say why they are scared of it and its because they are treating it like a game. Bitcoin is not a game but it can be used to play games and you can win it at games but Bitcoin is a Cryptocurrency which is digital money. They should not brand something they do not know about because it could be a hindrance to other people who have an open mind into learning new things. This "Ordinary" people are scared because they have no knowledge about it and studying it or teaching them what Bitcoin and Cryptocurrencies are can be helpful to them and might even change their mind.

Lorence.xD

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Quote from: yohananaomi on February 17, 2021, 02:38:12 AM

Quote from: Lorence.xD on February 16, 2021, 11:37:55 PM

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It seems that people don't know in general what bitcoin is and only listen to information like you say in social media which is widely scattered and obviously this makes them avoid anything related to bitcoin because of the fear that will befall them, plus there are still many countries that haven't acknowledge the existence of bitcoin.

That is why I address the issue of misinformation and lack of information, if the people were taught about bitcoin in an unbiased perspective and there are a lot of websites that has a lot of information about bitcoin, I think that we can slowly resolve the problem and in turn destroy the fear and stigma that is labeled to bitcoin. But the problem will not be solved solely just because we got all the information we need, if the people are continuously being ignorant about things and has the critical thinking skill of dead sewer rat then everything that was done was for nothing.

ice18

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Look at the time you wasted for listening to other people who told you about bitcoin being dangerous you should have thousands of money right now if you bought long time ago and enjoy financial freedom like the early birds of bitcoin, bitcoin should not be afraid of because no one controls it means no one can manipulate it only btc price can be manipulated but not the network, in the future looks like US dollar will be more dangerous and risky to hold than bitcoin.

yohananaomi

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Quote from: Lorence.xD on February 16, 2021, 11:37:55 PM

Not just fear of the unknown which is one the great many reasons people are afraid of bitcoin, they also fear that they will lose their investment because they hear around the corner that bitcoin is a volatile market, they also fear that bitcoin is an instrument used by criminal organizations and being involved in it might paint them as bad people to the society. This fears could be dispelled if we were to address the main issue, which is misinformation and lack of information.

It seems that people don't know in general what bitcoin is and only listen to information like you say in social media which is widely scattered and obviously this makes them avoid anything related to bitcoin because of the fear that will befall them, plus there are still many countries that haven't acknowledge the existence of bitcoin.

we have to understand things like this and all if there is no guidance from those who are familiar with bitcoin or are lazy to find the correct information which is a lot on google. they are certainly don't want to be in touch and want to know more about bitcoin. but gradually people will also be aware of the knowledge spread in the media about what the benefits of bitcoin are so far not known.

Issa56

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From my experience I think the main reason why bitcoin people are afraid of bitcoin is due to lack of proper understanding bitcoin is not just like way lots of people think it is, lot's of people think when you talk about bitcoin you are trying to scam them because they don't have proper knowledge about bitcoin, since they are having just little they don't want to lose the little they have because they believe bitcoin is all about scamming each other. There are lot's of people that are trying to give bitcoin bad name due to what they are using it for, but seriously bitcoin is not a scam I believe almost everyone should hold little bitcoin in there wallet and see how it will look like in the nearest future.

Lorence.xD

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Quote from: nitrobetting on February 16, 2021, 09:33:19 PM

Fear of the unknown. As simple as it sounds, many are unaware of the blockchain tech. There's also no way to use traditional fundamental metrics to classify a proper valuation.

Not just fear of the unknown which is one the great many reasons people are afraid of bitcoin, they also fear that they will lose their investment because they hear around the corner that bitcoin is a volatile market, they also fear that bitcoin is an instrument used by criminal organizations and being involved in it might paint them as bad people to the society. This fears could be dispelled if we were to address the main issue, which is misinformation and lack of information.

torrantz

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People afraid of bitcoin, simply because they don't have knowledge about it and they don't have capital to invest on it. Also, some of them don't want to use it because they afraid that they could lose their money on it. Some ordinary people is not open minded in terms of new technology and digital currency.

Maybe there's also some remnant of their government propaganda that says "btc muh bad" therefore people still has that negative thinking planted in their mind about cryptocurrency, now that bitcoin has been recognized world wide I think their perception regarding bitcoin gonna change overtime and be more better because cryptocurrencies exist to make things easier for them and not as bad as they think it was.

MCobian

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From my experience introducing Bitcoin to others, I found the reason most people are afraid of Bitcoin is usually they get misleading information.
In my environment consider Bitcoin scams, because they lack education related to Bitcoin. So from that we really have to educate other people
a lot so that they get the correct information about Bitcoin. Even though in my country Bitcoin is legal, but the government still doesn't support it.
In fact, many government statements have cornered Bitcoin.

nitrobetting

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Fear of the unknown. As simple as it sounds, many are unaware of the blockchain tech. There's also no way to use traditional fundamental metrics to classify a proper valuation.

Cryptos also can be used in various ways that can alter the dynamic of current industries.

That said, I believe society will eventually lean on and appreciate the integration of cryptocurrency as it's being more used in online markets.

Vaskiy

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Common man fear when he doesn't find himself secure. Another thing is the affordability. He knows the market will rise, but he doesn't have the affordability. I mentioned the word security based on the market fluctuation, it is at the high point to risk. If one tends to invest his daily requirement into bitcoin for an immediate return, and if he wasn't able to make a revenue out of it then it is a security problem for a common man. In reality, bitcoin is getting transition as big players toy.

Oilacris

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Quote from: CarnagexD on February 16, 2021, 06:21:02 PM

People fear what they cannot understand, and it is the case with bitcoin. They don't know how it works, how it has value, how to obtain one or a combination of each of these aforementioned reasons, and since they do not know, they are staying away from it. But with proper information and encouragement, these people should be swayed to invest.

People would really be having that kind of reaction into something that they dont really know but to think up that it isnt really that hard at all.Its just a matter of acceptance and
interest but well we cant really please everybody.

Sooner or later, people will really know bitcoins existence and knowing even with the basics depending for those who are curios because those are the ones will really be having the edge
when it comes to the opportunity given on dealing with crypto or with bitcoin itself.

Its normal to be afraid but doesnt mean that you would limit out yourself on learning everything.

uneng

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Quote from: Alice_Yu5 on February 15, 2021, 01:07:06 PM

Also about digital assets. Digital assets have become a reality.
Did you know that Fortnite had nearly $2 billion in revenue last year?
Do you know what these billion users got? Different appearances in the game can give characters different dance moves.
You can play the exact same game without paying any fees.

Do you mean we can play the *bitcoin game* successfuly making profit and even starting for free while others are going to play the same game, but losing money?
I think I didn't understand very well your comparison about Fortnite and bitcoin investment.

Anyway the main reason people are afraid of bitcoin is the high volatility and loss chance over their investments, without any doubts. With so many ponzi schemes and other traps around people tend to not believe in investments besides those guaranteed by the banks (which are unprofitable when put against inflation).

CarnagexD

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People fear what they cannot understand, and it is the case with bitcoin. They don't know how it works, how it has value, how to obtain one or a combination of each of these aforementioned reasons, and since they do not know, they are staying away from it. But with proper information and encouragement, these people should be swayed to invest.

Twinkledoe

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Quote from: MWesterweele on February 16, 2021, 01:27:58 PM

Quote from: ampere on February 16, 2021, 03:05:13 AM

In as much as knowledge is power; information is power. This is why most people feel bitcoin is some extra ordinary stuffs because they have little knowledge about it. Some people also look at bitcoin from the government point of view (illegal) and try to deviate away from it due to fear or panic. But believe me, as adoptions spreads and people continue to learn about the benefits and fundamental advantages of bitcoin; the more they love it and want to hodl some

That is how powerful having the idea of what this is all about, about thatn things or whatsoever. I am also an ordinary man but i didn't afraid of Bitcoin, well its just because i have an idea what bitcoin is and now it plays a significant role in the crypto world, dominating the market in its high market value. People only get afraid of bitcoin because maybe its their first time to encounter such kind of name or even its their first time encountering cryptocurrency.

Educate yourself what is happening around you, not only about blockchain tech or cryptocurrencies, and you will not be afraid knowing other things. As mentioned, knowledge is power. The more you know about things, the less you are hesitant to touch them. If people will educate themselves about crypto, I don't think they will be afraid. Sometimes, ignorance is the reason why people is hesitant to new technology.

pinggoki

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Maybe it is because those normal people doesn't have any chance to invest in bitcoin? Meaning they don't have the budget to buy and the thing is that they are afraid to lose because if they lose they can't buy back again, that's what I think the main reason why normal people are having doubt or scared on bitcoin meaning they don't have room to lose when they enter bitcoin. Another thing is that the lack of knowledge that they have because knowledge is power and this power will give you the things that you want, what I am trying to say is that they doesn't have enough knowledge on what bitcoin is.

imstillthebest

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no one can steal blockchain but why will they steal or manipulate it when they can manipulate btc to have a financial advantage .
ordinary people feel afraid in btc because they think that they are ordinary and less knowledgeable but anyone can go from ordinary to extra ordinary if they want to .
we that already knows btc were once ordinary but being ordinary is boring and we feel that our lives cant improve

MWesterweele

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Quote from: ampere on February 16, 2021, 03:05:13 AM

In as much as knowledge is power; information is power. This is why most people feel bitcoin is some extra ordinary stuffs because they have little knowledge about it. Some people also look at bitcoin from the government point of view (illegal) and try to deviate away from it due to fear or panic. But believe me, as adoptions spreads and people continue to learn about the benefits and fundamental advantages of bitcoin; the more they love it and want to hodl some

That is how powerful having the idea of what this is all about, about thatn things or whatsoever. I am also an ordinary man but i didn't afraid of Bitcoin, well its just because i have an idea what bitcoin is and now it plays a significant role in the crypto world, dominating the market in its high market value. People only get afraid of bitcoin because maybe its their first time to encounter such kind of name or even its their first time encountering cryptocurrency.

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Quote from: Alice_Yu5 on February 15, 2021, 01:07:06 PM

Bitcoin is a dangerous game.

Some reasons why one will consider bitcoin as dangerous gamble is because;

(1) The ordinary man, the common man that goes about every day hustling just to survive is very careful and sometimes too calculative of where he puts his money and what he uses his money for. Because of this over calculativeness and over caution not to take any risk, most remain poor all through out their lives.

(2) Another reason is no proper education on the prospects in bitcoin and cryptocurrencies. Some speak without even knowing what it is. Some have made hasty conclusions in their mind about it and are not giving any room for there to be any form of enlightenment.

(3) Another reason why some may still consider bitcoin as a dangerous gamble os because of past experiences. Some have been victims of one sort of fraud online or the other. Some have written offf anything digital that they cannot see. For this purpose, some still prefer fiat currencies.

acquafredda

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Quote from: Yatsan on February 16, 2021, 11:57:30 AM

It is simple. Ordinary people do not duly understand and do know everything about Bitcoin. It is a nature of human to get afraid of something they do not know and understand and they are just simply ignoring the choice of exploring or taking risk to better know such thing that is new or out of their comfort zones. Also, ordinary people most of the times do tend to listen on other people's opinion which are clearly not that knowledgeable about Bitcoin making them afraid of trying because they are thinking that they might get into the same fate like the other people experienced. Ordinary people are those types that are afraid of risk taking for it seems they are looking at the picture of advance thinking that it might not be worth it even if they are still not trying.

Yes, bitcoin requires people to make those five or so extra steps to get out their comfort zone in most of the areas they try to take for granted as they are. It is not easy to recognize that the money we have in banks it is not ours in the first place but that is the bank's money. Also, it is not easy to understand that you do not need to rely on a third-party to make sure that bitcoins move from A to B without a clearing house.
It is that and I could go on forever.

ecnalubma

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It is normal that most people had dilemma on things that they don’t understand specially Bitcoin. When I first heard of Bitcoin in 2013 I thought it was really complicated and that it was utilise by different kinds of criminals. The bad impression made most people stay away from, even up to this day there are still lot of people that believe in this technological marvel.

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