Topic: Why do people avoid bitcoin? - page 10. (Read 9320 times)
People don’t avoid bitcoin they simply don’t understand bitcoin and how it works. Bitcoin is technical and needs some level of attention to be properly understood. Cryptocurrency in general is not something you venture into without much knowledge. You should be properly educated before going into bitcoin so you wouldn’t have to complain complain, there many sources online where some can get knowledge about bitcoin. So people who avoid bitcoin are not ready for business.
in my country there is no prohibition on using bitcoin, but no one does bitcoin transactions because many people do not believe in bitcoin, bitcoin in my country is not well known and many people only believe in fiat.
They are more likely aware of its benefits but are not open on engaging to the opportunity due to fear of losing profit. Well, I think that would be better than people investing to cryptos and eventually regretting things because of the partial loss caused by market downfall. Those people tend to pani selling whenever the market is on red marks. Also, if they are eager to learn from this industry, they should do it in accordance with their will than to just invite them. There are cases wherein people earned huge profit from bitcoin and cases wherein they've lost huge amount because the price suddenly fell. These ideas I think is what pushing them away from Bitcoin. Ignorance is the common factor why they are afraid to use it. And that is understandable. If you don't know what will happen to your money, then better stick to traditional method, right? So it is more on educating individuals how to use it will remove their hesitations towards this technology. But not all of them are willing to learn. Lucky for those who are trying to understand crypto even if no one is there to guide them. Google is just one tap away, so if you are really interested, you can already learn a lot of things via net.
One of the main reasons why people are aloof with bitcoin is because they don’t know about how it works.
It’s a natural tendency for people to avoid what they don’t know and they’re not familiar with. It’s like looking on a restaurant’s menu. If it’s your first time in a restaurant, most of you will pick the food you know that is delicious and will not disappoint your taste buds. Majority will play safe to savor the food they paid for. They want a guarantee that their money won’t be put into waste. Same goes with bitcoin usage. People that avoid using bitcoin are the same people that know nothing or very little about it. In addition, some of them have wrong perception about it as well. Hence, opting to use the traditional payment method such as paying in cash and using bank accounts so that their money will not be scammed.
We can’t force these people who avoid bitcoin in using it. What we can do is educate them and guide them to know more about its advantages and disadvantages. In that way, they would be knowledgeable about cryptocurrency. After this, we should let them decide on their own. We’ve done our part and we should leave the choice on their hands whether to use it or not.
It’s a natural tendency for people to avoid what they don’t know and they’re not familiar with. It’s like looking on a restaurant’s menu. If it’s your first time in a restaurant, most of you will pick the food you know that is delicious and will not disappoint your taste buds. Majority will play safe to savor the food they paid for. They want a guarantee that their money won’t be put into waste. Same goes with bitcoin usage. People that avoid using bitcoin are the same people that know nothing or very little about it. In addition, some of them have wrong perception about it as well. Hence, opting to use the traditional payment method such as paying in cash and using bank accounts so that their money will not be scammed.
We can’t force these people who avoid bitcoin in using it. What we can do is educate them and guide them to know more about its advantages and disadvantages. In that way, they would be knowledgeable about cryptocurrency. After this, we should let them decide on their own. We’ve done our part and we should leave the choice on their hands whether to use it or not.
That's certainly true, mate. It's no secret that most people are unaware of Bitcoin's true benefits relative to Fiat. They're only judging Bitcoin based on its price and negative uses in the mainstream world. But they haven't gone deeper to explore its hidden potential. Some will believe what it's said by mainstream media and the government, while others will do their own research to know what Bitcoin is all about. As long as we do our part in spreading awareness of Bitcoin to the mainstream world, there should be nothing to worry about. Bitcoin will have both its supporters and haters. It happens all of the time with Fiat and any other asset/commodity/precious metal in the real world. We cannot force people to join the Bitcoin revolution as not everybody has the same preferences.
Given that Fiat still dominates the mainstream economy, Bitcoin will co-exist with the traditional monetary system for a long time. Decentralization and censorship resistance is all that matters in order to bring banking to the unbanked. Otherwise Bitcoin will be no different than ordinary banks. With due time, people will be able to recognize Bitcoin as the next generation of Gold. We just have to be patient to see positive results in the long run. Just my opinion
in my country there is no prohibition on using bitcoin, but no one does bitcoin transactions because many people do not believe in bitcoin, bitcoin in my country is not well known and many people only believe in fiat.
They are more likely aware of its benefits but are not open on engaging to the opportunity due to fear of losing profit. Well, I think that would be better than people investing to cryptos and eventually regretting things because of the partial loss caused by market downfall. Those people tend to pani selling whenever the market is on red marks. Also, if they are eager to learn from this industry, they should do it in accordance with their will than to just invite them. There are cases wherein people earned huge profit from bitcoin and cases wherein they've lost huge amount because the price suddenly fell. These ideas I think is what pushing them away from Bitcoin. in my country there is no prohibition on using bitcoin, but no one does bitcoin transactions because many people do not believe in bitcoin, bitcoin in my country is not well known and many people only believe in fiat.
So this rules out the factor that government's decision affects the public's views regarding bitcoin and cryptocurrency altogether. What I believe is the reason why not everyone is investing on it is the fact that people's lives are so embedded on fiat that the promise of bitcoin just doesn't work for them anymore. Why aim for online currencies when digital payment exists, for example. 
Although bitcoin offers alot of benefits when it's been used for transactions, but it seems like alot of people don't see it that way, most people find it too complicated to use bitcoin for their daily transactions, and also one the challenge they would face is converting the crypto to fiat,what if there's no one to buy the bitcoin from them?, they will just be stuck with the coin with no way to change it to cash and do what ever they want with it.
It's not as easy as you say, i know It's really much easier than a bank. But when someone sends a payment to someone, the recipient needs one wallet.
Where he will receive the payment, then he will send it to the exchange and exchange it. in many countries you can't transfer money from bitcoin to your bank directly. So its a long process. That's why people prefer to send money from the banks.
Where he will receive the payment, then he will send it to the exchange and exchange it. in many countries you can't transfer money from bitcoin to your bank directly. So its a long process. That's why people prefer to send money from the banks.
A lot of people are afraid of bitcoin because the legal side isn't clear at all, is really complex to be ok with the government taxes and bitcoin at the same time. So, they don't want troubles. And another reason is that they get scammed with a shitcoin or a token and now they think all the cryptos are a scam.
Agree to you statement, as long as the use of cryptocurrency in your country is not still credited yet then prolly, few of netizens will take risk and use bitcoin. That's why if the government adapt the usage of crypto, prior knowledge is necessary to avoid scams.
It would also be possible that if the Government gains knowledge regarding Cryptocurrencies, they might abuse it which is scary and once they have fully grasp of things within the Cryptocurrency Industry, things might change a lot. Change is scary and people might avoid it. The government might also tag it as something that is not to be trusted thus resulting in a bad review to the public.
For exchanges, bitcoin offers various advantages that disturb conventional exchange techniques; Western Union, Paypal, bank move, and Tranferwise, and so forth As I would see it, I think the absence of acknowledgment and reception is to a great extent because of training. Like @ratimov referenced, basic obstructions to-passage are inquiries around where do I purchase crypto, where do I trade crypto, what is the cost of bitcoin-explicitly when gained versus when traded into fiat cash, imagine a scenario in which I sent cash to some unacceptable wallet address - do I have security on that.
in my country to transact with bitcoin is strictly prohibited, there will be sanctions if making transactions using bitcoin or other crypto, why does my country prohibit it? there may be a decrease in the value of the official currency so that it is not allowed to transact using bitcoin. Bitcoin in my country is only recognized as a commodity such as gold, silver, rubber and others
Hello please can you ask that question again.
" Why do people avoid bitcoin" . Am not gonna beat around the bush in this topic. Am gonna nail the bull to the head. Bitcoin is made up of blockchains. So tell tell me why won't people avoid it when the need quick money. So button line is that it is stressful.
" Why do people avoid bitcoin" . Am not gonna beat around the bush in this topic. Am gonna nail the bull to the head. Bitcoin is made up of blockchains. So tell tell me why won't people avoid it when the need quick money. So button line is that it is stressful.
A lot of people are afraid of bitcoin because the legal side isn't clear at all, is really complex to be ok with the government taxes and bitcoin at the same time. So, they don't want troubles. And another reason is that they get scammed with a shitcoin or a token and now they think all the cryptos are a scam.
Agree to you statement, as long as the use of cryptocurrency in your country is not still credited yet then prolly, few of netizens will take risk and use bitcoin. That's why if the government adapt the usage of crypto, prior knowledge is necessary to avoid scams.
A lot of people are afraid of bitcoin because the legal side isn't clear at all, is really complex to be ok with the government taxes and bitcoin at the same time. So, they don't want troubles. And another reason is that they get scammed with a shitcoin or a token and now they think all the cryptos are a scam.
In order to use Bitcoin, you need to have certain knowledge.
In addition, Bitcoin needs to be exchanged for fiat money. This is the most difficult moment. Many governments do not approve of exchanging cryptocurrencies for official currencies. These operations are prohibited or restricted.
Even if there is no direct prohibition, people have doubts - are they breaking the law or not?
A lot of people are afraid of bitcoin because the legal side isn't clear at all, is really complex to be ok with the government taxes and bitcoin at the same time. So, they don't want troubles. And another reason is that they get scammed with a shitcoin or a token and now they think all the cryptos are a scam.
One of the main reasons why people are aloof with bitcoin is because they don’t know about how it works.
It’s a natural tendency for people to avoid what they don’t know and they’re not familiar with. It’s like looking on a restaurant’s menu. If it’s your first time in a restaurant, most of you will pick the food you know that is delicious and will not disappoint your taste buds. Majority will play safe to savor the food they paid for. They want a guarantee that their money won’t be put into waste. Same goes with bitcoin usage. People that avoid using bitcoin are the same people that know nothing or very little about it. In addition, some of them have wrong perception about it as well. Hence, opting to use the traditional payment method such as paying in cash and using bank accounts so that their money will not be scammed.
We can’t force these people who avoid bitcoin in using it. What we can do is educate them and guide them to know more about its advantages and disadvantages. In that way, they would be knowledgeable about cryptocurrency. After this, we should let them decide on their own. We’ve done our part and we should leave the choice on their hands whether to use it or not.
It’s a natural tendency for people to avoid what they don’t know and they’re not familiar with. It’s like looking on a restaurant’s menu. If it’s your first time in a restaurant, most of you will pick the food you know that is delicious and will not disappoint your taste buds. Majority will play safe to savor the food they paid for. They want a guarantee that their money won’t be put into waste. Same goes with bitcoin usage. People that avoid using bitcoin are the same people that know nothing or very little about it. In addition, some of them have wrong perception about it as well. Hence, opting to use the traditional payment method such as paying in cash and using bank accounts so that their money will not be scammed.
We can’t force these people who avoid bitcoin in using it. What we can do is educate them and guide them to know more about its advantages and disadvantages. In that way, they would be knowledgeable about cryptocurrency. After this, we should let them decide on their own. We’ve done our part and we should leave the choice on their hands whether to use it or not.
Because the majority of the world's population is less knowledgeable about Bitcoin, and many Bitcoin hater are spreading misleading news.
As mentioned, Bitcoin is widely used for money laundering, terrorist financing and other illegal activities. This makes many people avoid Bitcoin,
even in my country Bitcoin trading is called a gambling game. All the misleading information that was spread was indeed made by the government
to drop Bitcoin in my opinion, because the government is afraid that one day Bitcoin can replace fiat.
As mentioned, Bitcoin is widely used for money laundering, terrorist financing and other illegal activities. This makes many people avoid Bitcoin,
even in my country Bitcoin trading is called a gambling game. All the misleading information that was spread was indeed made by the government
to drop Bitcoin in my opinion, because the government is afraid that one day Bitcoin can replace fiat.
Given that Bitcoin has been widely criticized by such entities, the majority of people in the mainstream world will continue to use Fiat for day-to-day payments. At least, Bitcoin will have a large number of supporters backing it. As long as the Blockchain remains decentralized, it'll become impervious to censorship by mainstream governments. Instead of serving as a replacement to the current monetary system, Bitcoin will remain as an alternative for those who want complete control of their money. All we can do is spread the word out there about Bitcoin's true benefits relative to Fiat. The time will come when more people will join the crypto train. But not everyone will use Bitcoin because of the aforementioned reasons. Ultimately, Bitcoin will co-exist with traditional Fiat currencies for many generations. As long as Bitcoin experiences mainstream adoption, it'll be able to sustain its growth for a long time. Just my thoughts
It will not be the case that everyone will accept everything in a beautiful way.As such I think it is a digital currency.If he calculates those who have digital knowledge.Only they will accept it .It is a normal process.
Bitcoin is a cryptocurrency coin nobody cannot control this so anytime bitcoin gone so dump or pump. On the other hand, the Government can control the bank and other financial services but they cannot control bitcoin.AS a result, Many countries declared that bitcoin is illegal and Ponzi schemes also add Money laundering cases for bitcoin users. https://economictimes.indiatimes.com/wealth/invest/5-reasons-why-you-should-not-get-swayed-by-bitcoins-sky-high-returns/articleshow/61874770.cms
There are many reasons why people avoid Bitcoin. First of all, most people do not know what Bitcoin is and how it is made and how it works. So most people do not have the courage to invest in Bitcoin because they do not have the necessary knowledge. Moreover, at present, in most countries, the government does not recognize it legally, so people do not feel comfortable investing in it or using it. Moreover, due to the volatility of Bitcoin, many people invest in it and avoid it as they do not have enough skills.
Actually, the answer for this question is simple. Especially the older people are accustomed to fiat. So, they do not want to learn and use a new way of exchange. I think people shouldn't be get lazier. They should always be open for new technologies. We are living in technology era and things are changing very fast.
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