Topic: Why do ordinary people feel afraid of Bitcoin? - page 20. (Read 3653 times)

We are ordinary people as well, we just learned about decentralization is more important than having wealth and assets that can be seized by authorities and fiat is just one of it.

If they don't know about Bitcoin then they should be afraid of it. There are scams in bitcoin and if you know nothing about the scams and Ponzi surrounding BTC, you'd be the next victim. But once you learn it, there is nothing to be afraid of. You won't even think it's volatile when you learn that its market is like ROM.

There are two main reasons behind it! Let me explain below,

1. Technical understanding - Not all people are technically sound, especially the older generation. If we want to use bitcoin, it needs a certain amount of technical knowledge. People can obviously use simplified online wallets but again, it needs understanding of fees, address generation etc. So those who are not tech savy, are afraid to use bitcoin!

2. Banking propaganda - I am not sure if it's happening all over the world. But in many countries, banks have started using their money and power to run propaganda against bitcoin. I personally receive many emails from my bank which talks about the risk of bitcoin and issue official advisory not to use it. The impact of banking system is immense on the society. So those who have not entered into bitcoin market, they prefer to stay away!

Also proper awareness about cryptocurrency is missing! We obviously have many online tutorials available to understand bitcoin and its ecosystem, but that is not enough to make someone intrigued about bitcoin. We need local and micro influencers to promote bitcoin among the mass. But due to banking propaganda, it is not being fruitful.

People are the father of lies, governments are the gods of lies while people like to believe them even if they are ignorant and depicting bitcoin bad. I still see it surprising how bitcoin is called this so called listed above but while fiat is the not perfect but used for all such too more than bitcoin. Fiat is volatile, especially in the countries that are not developed or not well developed, the fiat will be devaluing but the citizens will know but have nothing much against the governmental imperfect policies. People saying bitcoin is voaltile do not know what they are saying, those that have been holding and never sell when they are losing will gain, the price will rise back and they can possibly gain tripple or more of the investment capital.

There has been hundreds of ponzi before bitcoin existence in 2009, there has been fiat linked to criminals and ransom demanding bad peeople. Terrorism has been existing before bitcoin was created, criminals have been existing too.

We who are into Bitcoin are a minority, we are early adopters of Bitcoin, Why cant everyone
see what we can see?

Knowledge is the key, if they took the time to do a little research they would realise, its too
easy to rely on mainstream media.

Bitcoin is very volatile
Bitcoin is used by criminals
Bitcoin is a Ponzi
Bitcoin will be banned

These statements are not used for traditional investment instruments so generally people
dont want to take chances particularly with something which is alien to them, they are
happy enough to go about their business, work hard and trust the traditional monetary system.

You can find opportunity in everything as there are very few things that are 100% efficient. There will be gaps of value in anything.

Look at the equity/stocks market today. A lot of stocks are overvalued but they continue to grow and others are undervalued and they are decreasing in price or remaining flat. If you take the time to study methods of fundamental analysis you can actually come with a fair price of each stock that interests you and invest based on that due diligence. But most people are too comfortable and think that is not necessary or too complicated. They are the gamblers and gamblers always lose money over time.

Don't be like them and take informed investment decisions which are not driven by fear, but by your reason.

Blink once and you're rich. Blink twice and you're bankrupt. Ever since I got into cryptocurrencies I've looked at BTC this way for the longest time, as I imagine a lot of 'ordinary' people do.
They look at BTC as a volatile investment, not as a currency that has the potential to change the money system as we know it today. Plus, in all fairness, it tends to get a bit tech-savvy for older people to understand the underlying technology 

Generally speaking, it appeals to the younger generation more than anything.

unless you have $10,000 or more to invest , I'd look at BTC as a gamble .

You don't get instant gratification, or the opposite like a slot machine gives. but it can be something you look at every day, and you could consider it like a long term investment . Unlike buying a share in General Electric, or another company that plods along giving you little dividends , BTC can make you richer than the best paying stock.  It can give you something to dream about if your life is mundane ,and going nowhere.
 

When your just an ordinary person and don't have any idea what is bitcoin it's just so difficult to believe especially if you don't have any experience in digital transactions.

Most of the time like some of my friends that do not believe in bitcoin cannot believe that you can actually earn that kind of profit by just investing in cryptocurrency.

And they gonna believe that especially if your in a country that when it comes to online things scam are so frequently happened and not so expose to this kind of technology

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.

Because you even didn't know what is Bitcoin and also you didn't understand how the system works.  Why you've listened with someone, instead of having your own research, if that is a long time ago, I presume it was two years ago or more, and now, what happens to the Bitcoin price?  Have you disappointed with the multiple prices increased and doubled the price to the previous ATH?

It's totally different if you compared Bitcoin to other projects which are completely irrelevant.  If people feel afraid to invest in Bitcoin, it might they didn't understand yet.  Look, there are too many big investors who adopted Bitcoin and there are too many private business institutions of start adopt Bitcoin and using it as payment.  Do you think they're afraid?  

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.