Topic: Why do ordinary people feel afraid of Bitcoin? - page 2. (Read 3643 times)

I am an ordinary person and I am not afraid of bitcoin. Lol,has a job at a company, has a family, is passionate and likes creativity. I think some people are not knowledgeable enough to realize the real difference between bitcoin and the rest of the market. The evils of scams for altcoins have made their psychology lash out about the name bitcoin. Bitcoin is simply volatility for different uses. The biggest problem is the lack of knowledge.

One reason behind this fear, is that bitcoin isn’t a tangible asset. It’s not something you can touch, smell or see like other wealth building instrumentsThe ordinary person isn’t aware that money is just a social construct. They think it always has been and always will be even though the only reason those green pieces of paper hold any value is because we choose to make it so.

If we are an investor then those who watch the bull market or bear market will find this very boring and consider this normal but for those who do not know anything about this market, they feel this is a terrible and bewildering thing, the feeling of fear of losing everything, that is the mentality of all newbies.

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.

For a long time buying Google at a high price, Amazon and Apple are both good choices for me.

Yes, there are a lot of stocks there, there are also cryptocurrencies, there are also many bonds and debt instruments.
In the US, there are obviously 9,600 mutual funds (quick Google search)
. The question is, which of the thousands is worth buying.

Just because some or many of the available options are not good investments, it does not mean that the entire asset class is bad.

The prosperity of encryption technology is just like the technological prosperity. They have got a lot of IPOs because of various stupid ideas. Most of these technology companies are stupid and not worth it.
Nowadays, there are many ICOs, most of them are stupid and not worth it.

However, there are still opportunities to realize value.


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.

Yes, speculative. But that is what most of the people see, skipping whole technological part. People see only small part of the Bitcoin technology and their knowledge is narrowed to "Bitcoin-money-probably a pyramid". They dont know about the possibilities of blockchain and its usage.
Like you said, their remember how Bitcoin crashed, but they dont even realize how useful blockchain technology is nowadays. They are afraid of loosing money and they are not experienced with long term holding.

But we shouldn't forget that it is indeed a highly speculative thing to get into Bitcoin. Lots of people know someone who lost money but also someone who made money. I can understand that many are afraid of a crash like in 2017. I know some guys who frequently ask what they should do. They kind of want to get involved but are afraid of crashes a lot.

People are afraid of it because many of then think that Bitcoin is just a speculative resource that makes people rich (or poor). Part of them think that "they are not traders, they dont all that smart graph trading stuff". They visualize trading based on the movies. Trading crypto to them is like stock trading in a room with traders shouting, lots of screens and etc. But when they realize what blockchain is, how Bitcoin is used in it and all technology behind it, they get totally confused.

They expect this:



But they get that: