Topic: Why do ordinary people feel afraid of Bitcoin? - page 19. (Read 3653 times)

With that, then maybe these ignorant people will be curious about what is really the essence of bitcoin.

Bitcoin is not just a coin, it has a lot of value in market that no ordinary people understand.

If you are close-minded about cryptocurrency and blockchain technology then you will really have a hard time to invest or manage your asset.

Ordinary people will be framework, their thinking is perfectionist, they like the simplicity and stability. They will reject their unconventional ways of thinking, such as ups and downs, annoyances, damage, risks ... This is the reason that normal people will not like / fear bitcoin.

One of the reasons is most ordinary people are not much aware of technology and digital currency, they don't like trouble and they are frequent to use fiat money.
Other types of people who have much knowledge about cryptocurrency but the government has instilled fear in their minds about using Bitcoin, Government harasses them by banning and unbanning Bitcoins. that's why they losses their hopes and stay away from bitcoin.
However, today's young generations are very interested in Bitcoin and despite huge obstacles, they are working for the use of Bitcoin and Bitcoin adoption.

Thinking of bitcoin as a scam, gambling, ponzi or the like is the same as FIAT which still has a lot of scams and others. It depends on how to use the currency whether for positive or negative activities. Ordinary people who know about bitcoin and have the mindset that bitcoin is a scammer does not know complete information about bitcoin.
The need for positive education about the advantages and disadvantages of bitcoin is very necessary so that ordinary people understand about bitcoin.
Nowadays people are attracted to bitcoin because of its increasing price.

People who are afraid of bitcoin are just a group of people who don't understand what the benefits of bitcoin are and they only see the negative side without seeing the benefits that will be obtained.

There are many reasons that make ordinary people feel afraid of investing in Bitcoin, the reason for the most part is because many people do
not understand about Bitcoin. Furthermore, why do ordinary people fear Bitcoin is a matter of legality, because there are still many countries that
prohibit owning and using Bitcoin.

And the last reason is because it is influenced by the FUD which is currently circulating a lot.  So my advice for newbies is always to learn a lot
about Bitcoin, because if you already understand about Bitcoin it will give you confidence that Bitcoin is not something to be afraid of.

This is your first post and you made this thread, I appreciate it at first, hopefully, you can back again to discuss with us, answering the opinion from the other members here, not leaving after making a thread.

And, did you promote a game with this point, Is the point about the game "Fortnite" or what?

well, related to your opinion:
In my opinion, they only know Bitcoin from the limited thing, from one side, and not willing to spread the look at Bitcoin.
For example, some of you may only think of using Bitcoin for a game, or blind investment, money laundering, and also scamming people.
This option is probably not wrong, because some people really do it.

However, leat's broaden the point of view.
Bitcoin is a precious asset once you learn it first, you will never know what Bitcoin is without learning and seeking as many as possible. Draw the positive and negative, learn the market, and also the experiences from many more people.
You will know how worthy is Bitcoin.

We cannot blame those who don't like Bitcoin and consider that BTC is a wrong decision, harmful to get because they don't know what exactly and how exactly Bitcoin is.

I personally don't feel its because of many of the reasons listed above, except for being "new". Even then, I don't think people are concerned about the longevity of the currency, as its been around much longer than most people invest in. Instead, I believe its the lack of documentation, and usability that scares people away. Unfortunately, for Bitcoin to exist in the way it does, it had to step out of the comfort zone of many people, and introduce new concepts. Now, its known that the majority of people aren't particularly fond of change, which Bitcoin does a lot. Traditional currencies have always been pretty much the same, and the principles are taught at school from a young age.

Bitcoin doesn't have this luxury, and currently we are stuck between unnecessary complexity, and jargon. Even when you come to this forum, many experienced users who have great knowledge in the subject aren't particularly good at communicating in laymen terms. Of course, Bitcoin requires someone to be specific in order to be clear, and concise about what you're talking about, but this is not friendly those that are just adopting it. I'm guilty of using jargon, not because I'm trying to sound like a smart arse, but that's how it rolls off the tongue, and is specific to what I need to communicate when asked a question about Bitcoin. However, that's just going to confuse, and scare someone new away. Unfortunately, the documentation which exists online isn't that great in communicating in laymen terms either. This is not only stunting Bitcoin's growth, but its hurting the chance for someone to come back later, and be willing to learn.

The challenge that we have as a community is trying to make it accessible for anyone to adopt Bitcoin in a quick, but secure fashion while also introducing new concepts. For example, a paper wallet is actually quite complex to a new user, because they aren't used to the practice. Unfortunately, the very name "paper wallet" although seemingly self explanatory is something hard to grasp for a new user. A "seed" is also something alien to them. These are just some of the very basic issues that we have to find a solution for to make it easier to adopt. I know, the general consensus is that a willing learner can get through this, and understand. However, if we truly want mass adoption then we should be making Bitcoin as easy to use as possible.

There are many possibilities, it depends on the individuals. We don't know what exactly was happening to the individual, so we need to ask first why they think it is dangerous in their own view. However, generally, I think here is the most likely happening to the people who say Bitcoin "dangerous".

1. They don't know well about Bitcoin.
2. They are affected by others to stay away from Bitcoin.
3. They hate Bitcoin because of certain purposes.

It's untested waters for these people, they clearly have no idea of what bitcoin is or what cryptocurrencies are in the first place, so they fear of putting money into it not realizing the great potential bitcoins and cryptocurrency in general can give. Nonetheless, this fear is justified since from a logical standpoint, this is the optimal solution. To fear and stay away from it.

People are afraid of bitcoin or cryptocurrency because of thinking that they could get scammed from it, I have a friend who doesn't even get interested in it even though how many times I told him about it, well I already expected that this thing would happen because, in our country we have this kind of saying or statement  " for you to earn money you have to work hard for it, your sweat makes money as well". Both cryptocurrency and fiat currency is hard to earn but based on mine if you have good knowledge of cryptocurrency then it would not be too hard for you t earn compared to fiat currency.

This is a classic case of how misinformation travels a lot faster than accurate information, taking over the network is not as easy as you make it seem and even if malicious actors were able to get that kind of control over the network and try to destroy bitcoin in the worst-case scenario the developers could just make a hard fork to the moment before those actors got control of the network and change the mining algorithm to make their mining rigs useless which means that those people will waste tens if not hundreds of millions of dollars just for the damage to the network to be reversed in a matter of days or weeks.

You've explored the web to find all the available forms of investment. Further taken list of the entire number of mutual funds available for investment. You've good ability, and why you're going for someone's suggestions. You better have a research about the different market, try to experience/experiment with a small fund. You'll be surprised, and that can give you the right answer than going with someone's word.

Am ordinary man is short sighted person because it does not believe on cryptocurrency, they really afraid of bitcoin because tey feel what government who is against cryptocurrency taught of crypto network, believe me  from these point of mine, one of the major element while many people is afraid of crypto is because all their mindset is that bitcoin is a scam, that with the aid's of bitcoin people can be easily duped from online shopping or online transaction, and some lack a tangible information towards cryptocurrency in general, so is best known to people who is afraid of bitcoin while they decides to isolate crypto network.

You have already called them names: "ordinary people", how would they not feel afraid in a new market that need cautions, even the old guys are still much afraid of the downs and ups in the market. We shouldn't pretend to say we don't really understand what happened to the last sect that invested into Bitcoin 2018-2019, even the sect before this ones, these season has created more fears in the heart of many concerning this technology called Bitcoin.

Every direction connected with investment and money is dangerous. In my opinion lots of people who are afraid of changing something in their lifes of course are afraid of Bitcoin also. It is easier for them to tell that it is bad or risky than to make steps, learn in deep and even may be to risk.

People are scared because most of them had been in bad experience regarding in bitcoin some of them got scammed by ponzi scheme like my friends i told them not to invest their money into some imaginary profit that promising good return within few weeks yet they still follow that's why when you're luck of knowledge much better to do some research before risking your money, Secondly most of people are just reading news and just go on the flow when they invest into bitcoin and suddenly drop their money probably lose some point and for them that's scary because they not even touching money but still reducing.

Bitcoin is still considered as a new type of asset and that's why people who are into investments are not willing to dive in on it because they're careful and only knew about traditional investments.

But as time gets in, there are more and more people that are willing to take risk and thanks to those exposure from the media and known personalities who are giving their thoughts about bitcoin.

Those who invest in Bitcoin are pretty much ordinary people as well, the only difference is that they take out their time to research and understand it and how it works, as one should do with any potential investment.

If changes in the market would render you bankrupt, then you are investing far more that you can afford to lose. Understanding how to invest and the levels of risk to take is important for anyone interested in bitcoin.
Bitcoin is also more than price volatility and speculation, there are several other qualities which makes it unique as a financial asset and a medium of exchange.

Ordinary people don't know anything about this space and they are also misguided by many including their Governments that this is money laundering, fake money, virtual unreality and whatnot. This makes up their mind that they should not invest in it or chances of losing their entire money is realistically high. These people should be asked that in which asset class, they don't need to bear any risks? Everything comes with a risk and any investment involves risk to a certain level which is why a disclaimer is attached everywhere that you should only invest what you can afford to lose.

The biggest issue related to BTC and cryptocurrencies in general for newbies is the learning curve. Initially, everything seems complicated and tough to understand even though there are plenty of guides and tutorial videos out there.

This deters newbies from learning more about the cryptocurrency world and they quit in order to avoid such complications.

Other issues like scammers, hackers, TX times and fees etc also deter newbies, but they aren't as problematic as the learning curve involved in my opinion.