Topic: Why do people avoid bitcoin? - page 16. (Read 9253 times)

You First Points Is Right,

In My Point Of People Not Understand Properly About Bitcoin,

There are so numerous people, is Bitcoin recognized by everyone? Bitcoin is a mysterious thing to several. All in all, it is less adequately recognized. And everyone encompassed is not thoroughly cognizant of it. One speculates and detects Bitcoin individually. Yet a lot of people don't understand that it is an enormous opportunity. So people avoid it.

I think because they're lacking knowledge about bitcoin. They're avoiding it because they're "scared of the unknown". Maybe if they take some time to learn and internalize things about bitcoin, maybe they're really interested, but just don't have enough information. Others may be scared of change. Thinking this would be a complex process, which is, still a result of lack of information. It means, they'll have to be supplied with sufficient information from anybody who has sufficient ideas to share. In return, they have to absorb it, to he able to fully understand how this thing works.

That would be a different scenario if they have a million in that wallet.

I don't think that they would just let it in there without doing anything to take care of it. I know that there are incidents like that happened in the past but with the value of Bitcoin right now, investors especially holders have their safety measures and I don't think it would be the same as in the past. Right now, one of the most reasons why Bitcoin is lost is that because they are accidentally showing their private keys or maybe because of scams and hacks that is happening.

Because Cryptocurrency is a high-risk investment that some other Transaction did not allow bitcoin and they still use the Regular basis of paying Bills and other needs. Is like a person that you cant please everybody. and i looking forward to the future to make Bitcoin become a Game Changer in the Industry

Just give them the comparison about the two,what is the advantage of banks and disadvantage same us to what Bitcoin is and let them decide which
is better and which is not.
It will not take long mate before we reach at least half of the people in the world will use and adopt bitcoin specially this pandemic that cause why
people now are looking for other alternative aside from Fiat.

The question is why we're using bitcoin and making a profit with it?.
Simple we all are well aware of bitcoin's latent capacity and have extraordinary information on how to use it.
Maybe someone just deceptive them and they think bitcoin is nothing but just a scam.
We should talk with them and give some confirmation on how bitcoin really work and encourages you to make a keen benefit.

Thank you, though the length of time of delivery of bitcoin may be short but the processes too may not be that easy for many, just that we are used to it in our ages. The older people will actually like to do it the way they understand and think will be safer. So we cannot blame them. Some people still don't know how bitcoin works and are not ready to worry themselves as long as they have alternative.

There are many reports saying that bitcoin is not as fast as you think. There have been too many transactions recently and its the reason make bitcoin blockchain becoming slower than it was in the past. Bank system has earned its reputation for many years of existence on our daily life. Making people change their mindset is extremely hard. Dont try to do that. Just try to enlighten them there is another form of currency that can give you an additional method of transferring money.

The number of people using bitcoin increases daily. But we still have a long way ahead for bitcoin to be fully adopted and used in our everyday life. Many things is need to be ameliorated to make bitcoin even stronger and better 

There are many cases why people are avoiding bitcoin, but most of the cases is because they don't have enough resources in order to easily transact bitcoin like
withdrawal and cashin. And other cases, they don't have enough knowledge about bitcoin and they are afraid that their money will decrease.

And the worst scenario, their country is against the use of crypto currencies or they are prohibited to transact any type of crypto currencies like bitcoin and etc.

I would like to add that bitcoin transaction now has become so slow and if they send money using bitcoin they will still convert it into fiat and transfer to the bank so it will still take a long time. As they say, bitcoin is not for everyone.

Many people avoid bitcoin because they don't have any idea on bitcoin transaction,like the way they have idea on fiat money which is very popular to everybody in the world. Most of them that avoid bitcoin are those who are use to fiat money to invest.
I think those people avoiding bitcoin are those people who their country are not yet legalize bitcoin in the country.So no way such people will have idea on bitcoin exchange in the place of market because they are use to fiat money for transaction in the country.

I think it's because of higher transaction fees and also not all are already know bitcoin and how to use it. They must prefer the way they are more familiar rather than using bitcoin which they don't even what is it. But I believe one day people will learn the process of using bitcoin specially if this cryptocurrency will become more accepted and convenience to use on their country.

Absolutely right! Bitcoin just does not have enough trust from the public! People are not aware of his abilities and just think that this is a scam!
That's why we need to prove to others as often as possible that Bitcoin (like Blockchain) is a revolutionary technology, which will be very convenient for many things in the future!

Not all of the investors of bitcoin or crypto currency as a whole are like you. There are a lot of incidents that investors lost their key, their files, showed their private key to everyone, or sent their bitcoins into the void. Incidents happen but I do agree that this is not the reason for these people to avoid it, there would be other reason.

Why would you forget a seed with a million worth of Bitcoin in it?

I don't have that much but I will never let my seed be forgotten or lost, the same with my private key. Either way, if that is transacted, it will be a talk of the community. It is true that Bitcoin is volatile, that it would dump and pump in a certain time but with a lot of people supporting cryptocurrency, I don't think it is that bad. People are taking advantage of those movements to earn some profit in the long run.

How to transact with bitcoin is a major obstacle that had kept people away from using it, to some people it somehow how cumbersome to open a wallet, deposit fiat to bitcoin and send to another person, once this basic knowledge is acquired everything becomes easy, however do people have the will to learn all these things so as to able use bitcoin except they have someone who can volunteer to teach and put them through else people will continue to avoid it,  even though some believed it is a ponzi scheme or it is a scam all these excuses notwithstanding a lot of people want to use bitcoin.

Well, bitcoin could be a little less volatile. If I was receiving a payment of a million $ as a liability and had it in Bitcoin, I would already have incurred a loss/gain on the deposit. No one wants to receive large payments in bitcoin. Also, what if you forget your seed?

^ This is probably one of the main reason why people refuse or avoid bitcoin, they think it is a scam because of the social media spreading the scam even and misleading people that bitcoin is a scam not a group of people who make a crime/fraud that put of the bad image in the bitcoin name. These people are don't know how bitcoin will work. Luck of knowledge is the main reason also that they did not adopt bitcoin. Nevertheless, there are also certain countries that banned bitcoin, if bitcoin was banned in your country, people will also avoid using it that probably they will afraid also to have punishment by the law.

People avoid Bitcoin because they believe it's a scam. They don't take their time to perform a research about how Bitcoin works and how it could be of benefit to their daily lives. The majority of the people in the mainstream world believe what the mainstream media and governments say about Bitcoin. And knowing that these entities usually spread negative comments about Bitcoin, it scares many people away from cryptocurrencies. Bitcoin's slow transaction confirmation times, high fees, and price volatility, makes matters worse. In its current state, Bitcoin works as a store of value instead of digital cash you can use for everyday purchases. Even with the Lightning Network around, merchant adoption is still low. The Lightning Network has a steep learning curve, which limits accessibility to non tech-savvy people.

In the end, Bitcoin will be used by libertarians, geeks, and some people looking to an alternative to Gold. The rest will continue to use Fiat because it's stable, easy to use, and trustworthy. As long as you and I do our part in spreading the word about Bitcoin's benefits to the world, nothing else matters. There will be those who will use Bitcoin in their daily lives and those who will reject it. At least, Bitcoin's decentralized and open source nature will keep it going for years to come. And that's what truly matters. Just my thoughts