Topic: Why do people avoid bitcoin? - page 13. (Read 9320 times)
I think most people fear that Bitcoin can be used to circumvent capital controls, which can be used for money laundering or illegal purchases, and could be risky to investors. Still others have voiced more systemic concerns over the decentralized cryptocurrency's potential to destabilize or undermine the authority or control of central banks.
It's really hard to state that people are avoiding Bitcoin when the price of Bitcoin (and altcoins) is going to the moon at the moment. We have seen some bullish priceaction in the last weeks. Seems like there is little to no resistance to the upside.
Maybe, just maybe we will see a new all time high in the next 6 to 12 months.
Maybe, just maybe we will see a new all time high in the next 6 to 12 months.
It seems that in various countries there must be education or seminars about bitcoin so that they know how it works. But if it's still a little bit there and we find it difficult to find, I think there must be a video on YouTube explaining how to transfer bitcoins and where to buy bitcoins.
There are some countries that legalized Bitcoin but people are not actually aware of it.
The worst part is that, when they actually introduced to Bitcoin, which they heard on the radio or watched on a Television or a YouTube video, it is related to a scam that happened. They are left with the impression that it is a scam and actually not a digital currency that they could use or invest in. Some actually googled it but some don't have the time with it. They heard it, they've watched it as a scam, they stick with it.
We have to understand that they were just so skeptical and cautious. Its not that easy to work and earned money in this strange time only to take the risk with bitcoin that they never knew exactly the great and easy method it gives. I think this kind of people heard a lot of negative things against Bitcoin that is why they really refuse to try it out even if it gives less hassle to them.
They won't accept payments in bitcoin because many countries impose very high taxes on cryptocurrency transactions. Although they know bitcoin quickly and easily, they will lose more money than getting cash if you send bitcoins to them without tax.
actually most people don't even know about bitcoin. some of them may have heard the name or read it somewhere in the news but they have no idea what it is. some think it is some "nerd money" that is virtual. some thing it is for "criminals",... a lot of weird things like that.
That's true, bitcoin or cryptocurrency cannot learn from school before, they don't have any idea about it especially if the person is not using mobile phone or desktop all the time, it would be hard for them to discover bitcoin and try it without someone who will talk them about it. Just like me, I have learned cryptocurrency because of my friend who introduced me to it. Quote
those little number of people that know about it and don't use it are either too scared of the volatile price or too scared because of some FUD they had heard that gave them false information.
Volatility is such a normal thing for the cryptocurrency and it is too different from a fiat currency, some people are tired to understand it so they just ignored to learn cryptocurrency, it is just their own choice and will. 
This is as a result of lack of awareness, most people does not know how Bitcoin works and are always skeptical in using it. It will take some time to shift from traditional way of doing things to the modern era.
There's much explanation; I personally think individuals are getting upset because of its profound charge.
The subsequent reason is people would truly prefer not to include their cash with bitcoin because they think it's a Ponzi plot.
Bitcoin can be difficult to accept since it's precarious, and there are numerous odds of getting trick.
The third and the last reason will be banks who would prefer not to trade it with their own currency. If you're not able to exchange, then it's useless to invest in bitcoins.
Unfortunately there are various reasons why bitcoin and cryptocurrencies are ignored, the first that come to mind is the murky image that the mass media continually give about this fantastic technology, people are therefore afraid and prevented. The other reasons may also be the big volatility of the currency which generates the danger of losses, without forgetting the fact that still a large part of the population, especially the elderly, does not know how to interact with this technology, download a wallet or buy bitcoin. There are still many obstacles to overcome for bitcoin to be well accepted by the mass 
I do notice that some people naturally don’t allow bitcoin in any of their daily transactions even when it faster and easier, they still don’t prefer using it,
The question is are these people Knows what Bitcoin is and how it works?you are mentioning people but you did not clear what you mean here and which people are you talking.because businesses will surely accept and adopt Bitcoin if they really understand what it is,but the problem is majority of them has no idea what is this.
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I have noticed this a lot, Some classes of human,Sometimes when they are to receive money from another country like international transfer sometimes it takes 2 3 days to arrive,They will advise them to use bitcoin and they still don’t accept it even it faster and easier. Now how come we make bitcoin come to people.
if only the governments are willing to let their country has this currencies?surely everything will be smooth running in terms of transactions.
People have different reasons why they did not using bitcoin as their transaction maybe they did not know how does the bitcoin to use. For us it is easy to use but maybe for them is not because it is new for them. They are trusting to the old or the the method they use before for sending money and we did not blame them because even us before we use that but because of the bitcoin we can send money where ever you are and the fees is much lower than others there is a lot of advantage of having a bitcoin.
Probably because Bitcoin is involved with scam accusations usually in pyramid scheme's, and cloud mining, before when Bitcoin was just starting. Also with the lack of knowledge on how it works they think Bitcoin is an app or company that's been around the web, stealing people's money when you invest in it. I don't know how did this misconception started but i blame the mainstream media for it.
This is as a result of lack of awareness, most people does not know how Bitcoin works and are always skeptical in using it. It will take some time to shift from traditional way of doing things to the modern era.
People have been avoided bitcoin because they are fear to lose a certain amount of money. I think it is a trauma also for other people to buy bitcoin specially when they experienced the 2017 crashed in the market. Others might caught also by scammers who promised that their capital will exponentially increase. However, when they see that bitcoin will rise up again they will buy when it is in ceiling price due to FOMO. And when it crash again, they will hate bitcoin. These people are only good for profits not knowing the specific use of bitcoin.
We have to admit that despite this digital age now, and even with high technology-driven world, there are still a lot of conservative people who prefers their traditional ways of managing their funds. In addition to that, the involvement of bitcoin to several scams in blockchain industry, made the people who doesn't have better understanding with bitcoin think more negatively. They were so skeptical because they were afraid that their funds might be lost. Despite bitcoin's popularity, we can't really avoid this kind of people who refuses to believe the great features that this largest cryptocurrency has offered because of their mindset is being negative.
In my opinion, what happened to bitcoin at its peak is hardly a fraud.
Yes, people invested a lot of money in bitcoin and other cryptocurrencies, and then the price collapsed so that many lost huge amounts of money.
But this is a common situation for the trading market. Everyone should understand that when they invest in cryptocurrency or any other resource, they should be ready to part with them.
It is possible to create a bitcoin wallet and learn about its working process through youtube within few minutes.people would like to do this rather wait for a week.so that's not a problem.the point is legality as we know btc is still not legal in many countrirs. So people of those country can't enjoy the facilities of bitcoin transactions within seconds.maybe because they afraid of bitcoin price cause it could be dump anytime without any reason
I think the most common reason is rather that the technical understanding and technological barrier is too high for many. Bitcoin works differently than online bank transfers, for example. You need an technological understanding and you are completely responsible for your Bitcoins. You can't just go to the bank and say "block my account" because I lost my password, but if you make a mistake with Bitcoin, the money is gone forever. Besides it is still difficult to pay with Bitcoin. Those are all factors, which are understandable, why many still do not want to handle Bitcoin.
It is possible to create a bitcoin wallet and learn about its working process through youtube within few minutes.people would like to do this rather wait for a week.so that's not a problem.the point is legality as we know btc is still not legal in many countrirs. So people of those country can't enjoy the facilities of bitcoin transactions within seconds.maybe because they afraid of bitcoin price cause it could be dump anytime without any reason
There are several reasons to avoid Bitcoin. These are:
1. If a Bitcoin ‘wallet’ is lost or damaged, it cannot be recovered.
2. Too much volatility as a medium of exchange.
we can't blame bitcoin for what you mentioned in number 2. If you lost your wallet information then obviously it is your fault and for this reason you can't say that bitcoin is a avoidable coin.1. If a Bitcoin ‘wallet’ is lost or damaged, it cannot be recovered.
2. Too much volatility as a medium of exchange.
In the case of the bitcoin wallet that was not your problem at all. A broken hard drive in the past is actually annoying but who uses a hard drive as a wallet these days? You could use other software wallets like Electrum etc. The number 2 is just nature in bitcoin for having too much volatility. That might actually be a reason why people are avoiding bitcoin but at the same time when you already have the knowledge in bitcoin and crypto, it might be the reason why you are investing. Having that volatility is a big key in making a big profit in bitcoin.
There are several reasons to avoid Bitcoin. These are:
1. If a Bitcoin ‘wallet’ is lost or damaged, it cannot be recovered.
2. Too much volatility as a medium of exchange.
we can't blame bitcoin for what you mentioned in number 2. If you lost your wallet information then obviously it is your fault and for this reason you can't say that bitcoin is a avoidable coin. 1. If a Bitcoin ‘wallet’ is lost or damaged, it cannot be recovered.
2. Too much volatility as a medium of exchange.
I do notice that some people naturally don’t allow bitcoin in any of their daily transactions even when it faster and easier, they still don’t prefer using it, I have noticed this a lot, Some classes of human,Sometimes when they are to receive money from another country like international transfer sometimes it takes 2 3 days to arrive,They will advise them to use bitcoin and they still don’t accept it even it faster and easier. Now how come we make bitcoin come to people.
Be reminded that cryptocurrencies work behind the revolutionary blockchain- where everything is connected in a web and all transactions are transparent. The problem is, transferring bitcoins to another wallet is completely anonymous in which the government worries for due to money laundering schemes or illegal transactions.
Another thing, media has contributed significantly on the widespread of false information and stigma in cryptocurrencies. That is also the reason on why some people avoid knowing this stuff. It is very easy to read and be convinced by anything that is posted on media compared to knowing actually the technology behind cryptocurrencies.
I think because bitcoin not yet legal in several countries. So they (people) still in doubt do it transaction using bitcoin.
Maybe you can share their reasons ?
Yupp one of many reasons is that even though they know how bitcoin has a lot more benefits than any other payment processor such western union that charge you extremely a lot. It's not that easy when you realized that to have an access to convert bitcoin into your own currency is forbidden and too complicated to find a way out of that problem especially for a newcomer .. so that time they decided to look for another way which they think it's better to pay the fee rather than confused think to look for the solution.Maybe you can share their reasons ?
That's what i found when i talk to someone who work overseas and want to transfer the money through bitcoin but things looks impossible to do.
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