Why do people avoid bitcoin? - page 18.

Latviand

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Quote from: uray on October 09, 2020, 08:32:55 AM

Quote from: LimLims on October 08, 2020, 11:36:00 PM

This type of immature behaviour is oftenly seen by peop who aren't aware of internet.
They don't trust internet with their money.
Moreover many people are also there, who thought Bitcoins are the source of Gambling, for which they often advised their own friends and families to stay away from Bitcoin.

We have gone a long way and people are not fools to not know about bitcoin, the basic problem with a common man is that if his wallet is lost or hacked he wont be getting his money back. Globally the number of online transactions has increased and how can you claim that people do not trust internet with their money, just compare the increase in the number of online transaction in the past ten years and you will understand the difference.

Basically, ignorance is what makes people lose their asset in their wallet easily.

If they are unaware towards scammers and hackers then probably they will not secure their assets much harder to prevent being a victim of it. People avoid bitcoin because they think that a digital currency or a cryptocurrency can be easily stolen or hacked from an online or digital wallet that a user utilize. But they should know that bitcoin is much easier to transact compared to fiat that undergoes a lot of process.

matchi2011

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Quote from: uray on October 09, 2020, 08:32:55 AM

Quote from: LimLims on October 08, 2020, 11:36:00 PM

This type of immature behaviour is oftenly seen by peop who aren't aware of internet.
They don't trust internet with their money.
Moreover many people are also there, who thought Bitcoins are the source of Gambling, for which they often advised their own friends and families to stay away from Bitcoin.

We have gone a long way and people are not fools to not know about bitcoin, the basic problem with a common man is that if his wallet is lost or hacked he wont be getting his money back. Globally the number of online transactions has increased and how can you claim that people do not trust internet with their money, just compare the increase in the number of online transaction in the past ten years and you will understand the difference.

Perfect been said! the awareness is continuously growing and we will be able to determine that from those online transactions that being made. Even there are still many people who continue to doubt and being afraid expressing their interest to this new cryptocurrency but we can say that slowly it's being recognized.

Those incidents of hacking and news about scams are factors that pushing people away, eventually once they figured out for sure they will be there and start their own journeys.

uray

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Quote from: LimLims on October 08, 2020, 11:36:00 PM

This type of immature behaviour is oftenly seen by peop who aren't aware of internet.
They don't trust internet with their money.
Moreover many people are also there, who thought Bitcoins are the source of Gambling, for which they often advised their own friends and families to stay away from Bitcoin.

We have gone a long way and people are not fools to not know about bitcoin, the basic problem with a common man is that if his wallet is lost or hacked he wont be getting his money back. Globally the number of online transactions has increased and how can you claim that people do not trust internet with their money, just compare the increase in the number of online transaction in the past ten years and you will understand the difference.

GDragon

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Quote from: Wesleyeric on October 07, 2020, 01:35:57 AM

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.

I don't really see bitcoin faster than online banking, cause maybe I'm poor I can't afford to pay a high fee but still, it ain't that fast. I still prefers fiat debit/credit card than using btc for something. The availability of btc to people is a reason why they avoid it too. Of course behind a fact that almost everywhere, bitcoin has this image of being used in illegal things or scam even though fiat is also involved with those kind of things. Btc adoption could be the change but it is another problem too.

MWesterweele

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Quote from: Mpamaegbu on October 09, 2020, 07:45:41 AM

Quote from: ?? on ??

You need somewhere to exchange the wallets for money. Those to whom you transfer, too, will need to find a place to exchange the bitcoins for cash.

I know this isn't the case all the time as we do have shops and services that accept Bitcoin in direct exchange for goods and services without converting to fiat.

Well i guess it isn't only the reason why people avoid bitcoin, i guess people who avoid bitcoin does not have any idea what bitcoin is. And maybe those people who refused bitcoin though they already have idea about what is bitcoin is that they are being afraid of taking risks and maybe not willing to learn more about it. And yes we do have shops and services already that accept bitcoin as a mode of payment.

Mpamaegbu

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Quote from: ?? on ??

You need somewhere to exchange the wallets for money. Those to whom you transfer, too, will need to find a place to exchange the bitcoins for cash.

I know this isn't the case all the time as we do have shops and services that accept Bitcoin in direct exchange for goods and services without converting to fiat.

Quote from: ?? on ??

...bitcoin is faster and easier, but the lack of acceptance of bitcoin in a government is also the reason why people don't use bitcoin as a way of transacting in the mainstream world.

That's a salient point why there seems to be a sort of apathy towards the use of Bitcoin by the larger society - lack of government support for adoption. Once there is a legislation to that effect, use and demand for Bitcoin will spiral out of control. Trust me.

sarmrakib

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Quote from: Crypto_lion on October 09, 2020, 02:14:37 AM

Quote from: LimLims on October 08, 2020, 11:36:00 PM

Quote from: Wesleyeric on October 07, 2020, 01:35:57 AM

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.

This type of immature behaviour is oftenly seen by peop who aren't aware of internet.
They don't trust internet with their money.
Moreover many people are also there, who thought Bitcoins are the source of Gambling, for which they often advised their own friends and families to stay away from Bitcoin.
But i guess it won't last longer, as in this generation all things are adapted via internet and the youth are becoming more concerned about the environment.
I predict in the next few years, we can see Bitcoins as a reputable Currency.

It's not just people who don't understand Bitcoin that prefer not to use it , even those who understand it don't want to use it for money transfers because of the volatile nature of it.

We need a stabl currency for fund transfers between nations.Otherwise we may never see these kind of transaction in digital form.

I think also he who don't know about the using of btc can avoid it .We can easily do transaction nation to nation securely and also trade on it .You said really well that volatile nature can make losses sometime but its so useful on trading that's why we love cryptocurrency,

abhiseshakana

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Quote from: Taskford on October 09, 2020, 04:40:48 AM

Because of this reason why we will struggle to have a massive adoption and those scam created are the barricade for good visibility to the person who doesn't know it. And if there's really an informative drive that will help Bitcoin to get a spotlight for sure the case will be different in terms of people's decision making. Maybe for now they avoid Bitcoin for that reasons but for sure once the technology about it will spread around the world they will join us here.

Frankly speaking, although half the world feels bitcoin can be beneficial for people on earth, they will think thousands of times to adopt or switch from the fiat system to the bitcoin system. Because a fully decentralized in the government system is only a utopia. The state is still the highest controlling element in the world, so it is impossible for the state to surrender its sovereignty to the market. So a decentralized system will never be fully adopted by a country.

Lerikaweb

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The network is really slow and the fees are comparatively high, this is why people avoid btc transactions. I think that in a couple years things are gonna be better cuz a lot of devs hae been working on the improvement of the Network.

Anonylz

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there are lots of reasons that be attributed to this but from my observation and communication with people in my surroundings, work place i realize a good percentage is lack of understanding, (this is base on my encounter with friends, family, colleagues and what have you) am telling you lack of understanding plays a very major role why many people are still avoiding btc,
that negative perception already portray by the media to the public have real taken a hold on how people see btc, couple with the numerous scams and hacks the space are experiencing on a daily basis, however, continuous enlightenment will definitely change the perception of the majority.

reliable

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Quote from: TopTort777 on October 09, 2020, 05:55:56 AM

So far I have figured out 4 reasons why people avoid bitcoin and other cryptocurrency

1) Some people think that this all is a huge pyramid aka Ponzi scheme.
2) Some people heard a lot about scams, hackers and etc. They also know that once lost crypto via scam or hack, funds can not be returned. There is no "back" or "cancel" transaction button. You cant roll back blockchain
3) Some people still think that cryptocurrency is illegal
4) Fees. People don't understand fees. With fiat, you pay constant amount for a transaction, based on your agreement with bank. With crypto, you might pay different transaction fee for two identical transactions, performed with 1 second difference.

People are projected the negative side more than the benefits of it. So those who are unaware or do not know much end up taking decision that it is dangerous and better to stay away from such things else they will lose money. Also some countries do not want crypto to be used so they do negative publicity more so that they can inform people why they do not want to make it legal.

Altryist

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People always avoid everything unknown to themselves. If we take the world's population, a very small number of people really figured out what Bitcoin is. Also, many people have lost money on scam projects and they tell bad information about cryptocurrency. Another reason is that bitcoin is not stable in price, it recently fell to $ 4,000, and today it is already $ 10,000, and it is not known what will happen tomorrow. People are afraid to buy it for a high price, so that tomorrow it will drop in price.

TopTort777

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So far I have figured out 4 reasons why people avoid bitcoin and other cryptocurrency

1) Some people think that this all is a huge pyramid aka Ponzi scheme.
2) Some people heard a lot about scams, hackers and etc. They also know that once lost crypto via scam or hack, funds can not be returned. There is no "back" or "cancel" transaction button. You cant roll back blockchain
3) Some people still think that cryptocurrency is illegal
4) Fees. People don't understand fees. With fiat, you pay constant amount for a transaction, based on your agreement with bank. With crypto, you might pay different transaction fee for two identical transactions, performed with 1 second difference.

jaypiepie

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its because of a lot of scammers in bitcoin sites therefore many people avoiding bitcoin they will surely safe there money in other transactions and to much phishing spamming and other delaying projects

Yamifoud

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Quote from: Sapphire915 on October 09, 2020, 03:45:34 AM

Those people who refuses to use bitcoin as payment method are those who thought that bitcoin is a scam and they fear that they will lose their funds and something like that. Their mindset is negatively affecting the adoption for an easiest and reliable transactions. We can't blame their hesitations because there are a lot of negative things that people who knew less about it had stated. But, I know that time will come eventually that they will lose their doubts and tried it, because we are much modern now and crypto currencies trend and popularity is getting wider and the adoption are getting more bolder.

Nope, I doubted that they will change their mind towards crypto because they live already with that kind of doubt. Those people who are open-minded will simply put at risk without hesitation and doubts.

And also, I stop thinking Bitcoin adoption has to come faster because it was not I looked into now.
*scamming issues
*delay transactions
*rises of phishing sites
These are factors that make people to get worried about entering Bitcoin (IMO).

Taskford

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Quote from: lienfaye on October 09, 2020, 03:27:30 AM

Quote from: Wesleyeric on October 09, 2020, 03:11:57 AM

Thank you everyone for the comments and contribution to the topic I posted, I have also learn from it, know I understand the reason while people don’t actually use bitcoin for there daily transactions. But I think bitcoin should use for international transfers. maybe some people don’t find it interesting because of the chargers, but if any one is comfortable pay the charge the person can go ahead with his or her transaction

Those who dont prefer bitcoin when sending/receiving money either local or international are most likely think its a scam because thats the case here.

Some people who are not aware of bitcoin and the technology behind it are thinking its not real or just a scam online.

I cant blame them though because of numerous scam incidents here that are using bitcoin as tool to scam other people.

Because of this reason why we will struggle to have a massive adoption and those scam created are the barricade for good visibility to the person who doesn't know it. And if there's really an informative drive that will help Bitcoin to get a spotlight for sure the case will be different in terms of people's decision making. Maybe for now they avoid Bitcoin for that reasons but for sure once the technology about it will spread around the world they will join us here.

XenoFever

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The main reason why people avoid using bitcoin is that they are thinking that it is a scam, that is how some people think about cryptocurrency in our country, even though they haven't tried it yet, they just don't believe that they can have money online, they think that was because of being lack of knowledge, they don't know how can they use it or what can bitcoin do for them.

Quote from: ?? on ??

There is no infrastructure. For example, you have money, and you want to transfer money to your relatives. You need a wallet, and they need a wallet. You need somewhere to exchange the wallets for money. Those to whom you transfer, too, will need to find a place to exchange the bitcoins for cash.

I also encountered this scenario before when I am about to give money to my brother in another country, he doesn't even know things about cryptocurrency so it takes time before I send him money. I just teach him some basics about it.

Sapphire915

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Those people who refuses to use bitcoin as payment method are those who thought that bitcoin is a scam and they fear that they will lose their funds and something like that. Their mindset is negatively affecting the adoption for an easiest and reliable transactions. We can't blame their hesitations because there are a lot of negative things that people who knew less about it had stated. But, I know that time will come eventually that they will lose their doubts and tried it, because we are much modern now and crypto currencies trend and popularity is getting wider and the adoption are getting more bolder.

lienfaye

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Quote from: Wesleyeric on October 09, 2020, 03:11:57 AM

Thank you everyone for the comments and contribution to the topic I posted, I have also learn from it, know I understand the reason while people don’t actually use bitcoin for there daily transactions. But I think bitcoin should use for international transfers. maybe some people don’t find it interesting because of the chargers, but if any one is comfortable pay the charge the person can go ahead with his or her transaction

Those who dont prefer bitcoin when sending/receiving money either local or international are most likely think its a scam because thats the case here.

Some people who are not aware of bitcoin and the technology behind it are thinking its not real or just a scam online.

I cant blame them though because of numerous scam incidents here that are using bitcoin as tool to scam other people.

shoreno

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Quote from: Crypto_lion on October 09, 2020, 02:14:37 AM

Quote from: LimLims on October 08, 2020, 11:36:00 PM

Quote from: Wesleyeric on October 07, 2020, 01:35:57 AM

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.

This type of immature behaviour is oftenly seen by peop who aren't aware of internet.
They don't trust internet with their money.
Moreover many people are also there, who thought Bitcoins are the source of Gambling, for which they often advised their own friends and families to stay away from Bitcoin.
But i guess it won't last longer, as in this generation all things are adapted via internet and the youth are becoming more concerned about the environment.
I predict in the next few years, we can see Bitcoins as a reputable Currency.

It's not just people who don't understand Bitcoin that prefer not to use it , even those who understand it don't want to use it for money transfers because of the volatile nature of it.

We need a stabl currency for fund transfers between nations.Otherwise we may never see these kind of transaction in digital form.

if stability is what they want then why not try stable coins , the goodness of using them is that you are still here on crypto or they are still covered with crypto and blockchain unlike to other stable payment methods that are non crypto/blokchain based and because of that , they have flaws . by using stable coins not only that your money will not fluctuate but i think the fees of using a stable coins are also less expensive or idk maybe some have totally zero fees . btc is already fine even if people will not use it for daily transactions though

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