Topic: Why do ordinary people feel afraid of Bitcoin? - page 6. (Read 3643 times)
It's natural that you can't give what you don't have and most especially talking about the poor, it's very difficult for them to give out the little they have while looking for another so taking risk is really a difficult task for any one especially the poor
You can't be terrified of what's going on with bitcoin if you don't have any notion of what's going on. People who have no knowledge of how or what bitcoin is would find themselves in a difficult scenario if they invest in it. One of the fundamentals that you should focus on is knowledge.
I've found that some people aren't investing in bitcoin because they don't understand how it works, despite the fact that there are platforms that may help people learn more about it.
I've found that some people aren't investing in bitcoin because they don't understand how it works, despite the fact that there are platforms that may help people learn more about it.
For ordinary people, Bitcoin and blockchain may not be so easy to understand, so they will think this is a scam, a tulip bubble, I think this is very inappropriate, most of this is because of Bitcoin People who lose money with currency, or people who lose money because of other altcoins. On the one hand, he lacks knowledge of Bitcoin, and he has no basic self-judgment on investment. Once he sees someone making money from a certain token, he will rush into the market, and he will eventually fail miserably.
something new, especially the opposite of a system that has existed for a long time, will certainly not be easily accepted. there are pros and cons, a lot of speculation, especially the media that is against cryptocurrencies often presents hyperbole news. so ordinary people are increasingly afraid to try, even just to learn it.whereas just like anything else, crypto has its advantages and disadvantages. the fact that many governments can accept bitcoins means that bitcoin has good opportunities and benefits.
If we continue to be afraid, when will we advance? This is one of the evolution of the financial system, where we are free to have our own "money", with all the risks of course.
I will be rejected because of this, but BTC is bad because it is completely technically obsolete (transactions require eternity, high fees, no smart contracts, etc.). Of course, people will say "this is a store of value." Because it cannot fill any other roles.
Having said that, I deeply respect it. Without it, who knows whether cryptocurrency will exist. This idea is indeed advanced. But none of these give it value
Having said that, I deeply respect it. Without it, who knows whether cryptocurrency will exist. This idea is indeed advanced. But none of these give it value
There is no doubt that certain drawbacks are there for Bitcoin. As you have mentioned, high fees and delays in getting confirmations are some of them. But remember that the developers are working hard to get around these issues. Lightning Network is being touted as a solution for these issues, but right now it is not very user friendly. But as I mentioned, the developers are working hard to make it less complicated and accessible for everyone. And hopefully, a majority of the users will be using LN within a few years time.
I will be rejected because of this, but BTC is bad because it is completely technically obsolete (transactions require eternity, high fees, no smart contracts, etc.). Of course, people will say "this is a store of value." Because it cannot fill any other roles.
Having said that, I deeply respect it. Without it, who knows whether cryptocurrency will exist. This idea is indeed advanced. But none of these give it value
Having said that, I deeply respect it. Without it, who knows whether cryptocurrency will exist. This idea is indeed advanced. But none of these give it value
For ordinary people, Bitcoin and blockchain may not be so easy to understand, so they will think this is a scam, a tulip bubble, I think this is very inappropriate, most of this is because of Bitcoin People who lose money with currency, or people who lose money because of other altcoins. On the one hand, he lacks knowledge of Bitcoin, and he has no basic self-judgment on investment. Once he sees someone making money from a certain token, he will rush into the market, and he will eventually fail miserably.
If you ask them, why they were afraid to put their investment on Bitcoin, perhaps, they will answer, they cannot believe that could be a profitable,
or they may say, they wanted to invest in something that was tangible, which they think, was more secure,
we cannot easily convince them to believe and put away their worries, due to bad reputation which made by the media or local government concerning cryptocurrencies, which create fear to others.
or they may say, they wanted to invest in something that was tangible, which they think, was more secure,
we cannot easily convince them to believe and put away their worries, due to bad reputation which made by the media or local government concerning cryptocurrencies, which create fear to others.
The major reason why majority of the people is staying away without investing in cryptocurrency is because of the high volatility and that combined the number of scams taking place in the market and the number exchange hacks and most of the time these exchanges cease to exist after the hack leaving its customers dry and with all these risk involved majority will stay away from the market because the risk weighs much higher than the benefits it offers.
Yeah.. recently one of the South African exchanges got hacked and $4 billion worth of coins were stolen. And in the end, it turned out that the coins were stolen by the promoters themselves (Cajee brothers). These sort of incidents really scare ordinary investors. But at the same time, they need to understand that Bitcoin is an asset that can be stored by the individual without the help of any exchange or third party website. At least some of the noobs go for exchange wallets, because they are too lazy to create the wallets themselves. In such cases, they have only themselves to blame. 
But for the time being, these people do not understand that the more money they want to earn easily, the greater the risk it implies, and in the event of a negative scenario, frustration and fear of getting involved with this business begins. I fully understand their feelings and I think that it may be even good that someone has some concerns that can save them from large losses in the future. Yet fear did not appear in the process of evolution for nothing and helped a lot in the survival of our species. 
Generally most of the ordinary people are liking what's something real and guaranteed money but Bitcoin fully non guaranteed investment and it's has huge amounts of risks. Sometimes market crashed , they fell into losses. So they can't take Bitcoin as easily.
Sometimes it does matters with some basic education or literracy but if you are a person who do fully dependent on whats those traditional things then you would really be having that impression that whenever a new thing that you do experienced or encountered will really be still a big question mark in your mind.Your limited knowledge will really be putting you into the situation where you do believe that it should be avoided.You hadnt opened up your mind on accepting on changes or new things which would really result on missing out the action or opportunity.
This doesnt only talks about being afraid with Bitcoin but also in other things as well in life whenever you do make new encounter.
Generally most of the ordinary people are liking what's something real and guaranteed money but Bitcoin fully non guaranteed investment and it's has huge amounts of risks. Sometimes market crashed , they fell into losses. So they can't take Bitcoin as easily.
The major reason why majority of the people is staying away without investing in cryptocurrency is because of the high volatility and that combined the number of scams taking place in the market and the number exchange hacks and most of the time these exchanges cease to exist after the hack leaving its customers dry and with all these risk involved majority will stay away from the market because the risk weighs much higher than the benefits it offers.
Yeah.. recently one of the South African exchanges got hacked and $4 billion worth of coins were stolen. And in the end, it turned out that the coins were stolen by the promoters themselves (Cajee brothers). These sort of incidents really scare ordinary investors. But at the same time, they need to understand that Bitcoin is an asset that can be stored by the individual without the help of any exchange or third party website. At least some of the noobs go for exchange wallets, because they are too lazy to create the wallets themselves. In such cases, they have only themselves to blame.
There are many reasons why ordinary people are still afraid of bitcoin, which is definitely because they do not have the knowledge and understanding of bitcoin and only know the risks without knowing the benefits.
The major reason why majority of the people is staying away without investing in cryptocurrency is because of the high volatility and that combined the number of scams taking place in the market and the number exchange hacks and most of the time these exchanges cease to exist after the hack leaving its customers dry and with all these risk involved majority will stay away from the market because the risk weighs much higher than the benefits it offers. 
There are many reasons why ordinary people are still afraid of bitcoin, which is definitely because they do not have the knowledge and understanding of bitcoin and only know the risks without knowing the benefits.
and as long as there is bad news about bitcoin, they will not try it and over time if they have curiosity they will try to learn it supported by positive news about bitcoin.
and apart from that nothing regulates bitcoin and nothing requires them to get involved with bitcoin, just their own awareness and belief in bitcoin.
and as long as there is bad news about bitcoin, they will not try it and over time if they have curiosity they will try to learn it supported by positive news about bitcoin.
and apart from that nothing regulates bitcoin and nothing requires them to get involved with bitcoin, just their own awareness and belief in bitcoin.
Theres a good book that help me answer that question to myself years ago :
"Innovation and Its Enemies" by Calestous Juma
"Innovation and Its Enemies" by Calestous Juma
Because in an instant his fate changed, either from hardship to pleasure or from riches to poverty, if those who buy bitcoins when prices are low and sell them when prices peak, of course they are very happy, but if buy bitcoins when prices peak then the price decreases this can drop his fate from rich to poor, if the capital is from debt, the fear must be extraordinary.
That's why investments should not come from debt. When investing consider it as an excess money something that we can wait not to use when the price is too low or not to sold easily or better to use the profit into another generating investment. The market is too volatile that anyone should know how risky it is. Many tries it without knowledge ended up not really using the opportunities that can get in crypto investing. Nothing will happen if we only got fear better learn how to recover the fear by studying thearket.
Media makes them feel like that way. They have been portraying bitcoin mostly with negative associations: Tulip pyramid scheme, black market, criminality etc. No ordinary person questions the magic of the mighty dollar.
which is criminal proof, not used for white washing and does not have a printer that goes brrrrr.
which is criminal proof, not used for white washing and does not have a printer that goes brrrrr.
ordinary people are afraid of bitcoin it's normal, they haven't played in bitcoin, and they don't understand about bitcoin, so it's natural that they are afraid, but they keep trying and keep learning I'm sure their fear will definitely disappear, just like us, we used to be afraid too, but with us learning and learning how bitcoin works, slowly we dare to step up, and dare to take risks, to be honest if we continue to be afraid of risk forever we will never succeed..
every investor always has bitcoin, depending on how much they have, it really affects every investor. what's more, currently the price tends to be less stable.it will also affect a person to have more or less a value against bitcoin. maybe This is an investment that must always be patient in the face of an increase or decrease in the price of bitcoin
Yes, I was afraid to invest in Bitcoin when I didn’t know exactly what Bitcoin was. Even then I thought it was a scam, but after entering a new company, because the company was in contact with blockchain-related , So I had to learn the relevant knowledge of cryptocurrency. After learning, I realized that Bitcoin is not a scam. Indeed, its existence has changed the world. The blockchain technology it relies on is also worthy of being applied to all aspects of life. In all respects, everyone who is afraid is because they don't understand Bitcoin, but they just hear that they lose money by buying Bitcoin, so they think it is Bitcoin's fault.
Because in an instant his fate changed, either from hardship to pleasure or from riches to poverty, if those who buy bitcoins when prices are low and sell them when prices peak, of course they are very happy, but if buy bitcoins when prices peak then the price decreases this can drop his fate from rich to poor, if the capital is from debt, the fear must be extraordinary.
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