Why do people avoid bitcoin? - page 20.

F_Societys

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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.

These people are afraid of not knowing enough about bitcoin and how it is formed from bitcoin.
Like the first year oil was discovered.
In those days, people called oil the Black Forest.
Because they did not know what oil was, and today we see that oil has become an essential part of world life.
I hope eventually bitcoin will be like oil.

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Quote from: Peanutswar on October 08, 2020, 06:23:40 AM

~snip

Based on my years of stay in bitcoin and cryptocurrency space. Honestly, I don't use bitcoin for micro transactions as there are main reasons why. First, Bitcoin transaction is not really fast. Compared to other cryptocurrency, bitcoin's confirmation tooks allot of time and if you need to go to the market and buy some goods in different merchants, it's really hard to monitor your funds. Another reason, the fees are huge, most of the time, it is dependent to how fast the transaction should be confirmed so you need to increase the fees too. But don't worry, these are just my reasons why I don't use bitcoin for microtransactions. I still use Bitcoin and consider it superior compared to altcoins as I use it to store most of my funds.

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Bitcoin is not universally known/accepted, so naturally people will distrust it. Despite what people here may say, most people are satisfied with banks, there's no reason for them to look for alternatives. For example, this problem with long transaction times with banks is mostly just an american thing, and even then most people are just used to this. And Bitcoin has its own problems too, so anyone who actually tries it would quickly encounter them. I think the unstable price is the single biggest reason why people aren't adopting it, few people would want to store their money in a currency that can drop by 50% for no big reason, even if in the long run it goes up.

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Most people don't see the practicality in using bitcoin since they are just transferring small amounts in which the fee is practically just a few dollars worth. They don't have to deal with exchange fees and don't have to wait for confirmation times, too. Usually, bitcoin transfers are practical when we are talking about tens or hundreds of thousands of dollars is to be transferred, otherwise sticking with payment processors and banks is still the best option. Overseas transfers work best with bitcoin and crypto too, given that most wire transfers from country A to country B asks for $20+ and would take one to two business days.

It's not that people are avoid using bitcoin; they just don't see the practicality in it most of the time.

ekeh

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Bitcoin is the King of all cryptocurrency community, and the price is very high, and has more prospect than any other coin, therefore people went for a lower price of other alt-coin to invest, while having a hope that, the price we raised to bitcoin one day.

Peanutswar

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It has a different reason.
I just drop an example.

People who use bitcoin - Faster and efficient we all know this
People who do not know bitcoin - There are a lot of rumors if you said the word bitcoin.

Movies gives a bad image on it
People scammed with the name under bitcoin
False accusation and etc.

Well we have different experience on bitcoin but we cannot force them to adopt to the things they don't like, its better to respect their decision but if they are willing to learn how to use it why not introduce and share the use of the bitcoin.

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Quote from: carlisle1 on October 08, 2020, 05:04:30 AM

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.

Those People are innocent and don't know what they are missing,Bitcoin is the most fastest and easy way in paying transaction online so i don't know why there are still many people denying this fact.
the scam issue has gone for long now and we must use this in our daily living as long as available,though at any chance conversion is needed for many to have it as currency because their countries are not allowing Bitcoin to be available.

I think one of the reasons why people are still avoiding bitcoin or afraid of buying bitcoin because there is no assurance that their assets would be safe if bitcoin will be shutdown by the government. Bitcoin is truly one of the fastest and convenient way to make transaction online, but scam issues or Fraudulent activities are the things that keeps them away to buy bitcoin. So it would definitely take long for everybody to used bitcoin for their daily lives because of these trust issues.

barto123

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Education - They aren't aware of it's huge value proposition, yet.

My top 10 reason to Bitcoin:

10. Bitcoin is like the $55k 1st edition Charizard Pokemon card but 100x better
9. The rise of the Lightning Network
8. Bitcoin's game theory incentive - a global hash war is in the making
7. As demand & adoption grows, so will Bitcoin's decentralization
6. The Bitcoin Network effect
5. Bitcoin is 10 times better than gold, despite what Peter Schiff will tell you
4. Capital controls & banking restrictions
3. Bitcoin will replace the benefits of cash in a cashless society
2. Inflation AKA Money Printing AKA Brrr - Central banks are printing like never before
1. Bitcoin's true scarcity will make it the most sought after asset class on the planet

Once your have a fair understanding how the current monetary system works, you become extremely passionate.

Everyday I write bullish words for Bitcoin - I believe Bitcoin will fix the world.

carlisle1

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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.

Those People are innocent and don't know what they are missing,Bitcoin is the most fastest and easy way in paying transaction online so i don't know why there are still many people denying this fact.
the scam issue has gone for long now and we must use this in our daily living as long as available,though at any chance conversion is needed for many to have it as currency because their countries are not allowing Bitcoin to be available.

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I think that there is a large degree of people who avoid it because it is so different than traditional banking systems and they don't completely understand it. However, as I've had more workers in international companies, I have used cryptocurrency for payment far more often and the fees are much lower compared to other options.

Institutions like Western Union are definitely going to be further replaced by cryptocurrency or have to lower their fees or adopt technologies themselves in the future as adoption increases.

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I think this will be the case for most people.

Most of them do not know what Bitcoin is, some of them know what it is but they don't use it because they think it is a scam, they don't know how to use it, and don't want any part of it. But there are some that also use Bitcoin but they are limited to where we use it, some just hold it and don't use it for them to earn profit in the near future. I could say that it is not for all of us, not all of the people would be interested in it.

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There are many reasons why people avoid using Bitcoin. The first reason is because they don't understand Bitcoin,
the second reason is too comfortable using traditional transactions, the third reason is Bitcoin's bad reputation.
Because of the misleading reporting from several media, by consider Bitcoin to be widely used for illegal activities.
And the last reason because it is related to legality issues. Not all countries accept Bitcoin.

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The people who avoid bitcoin either does not believe its capabilities or new ways of transactions is not their thing, bank transactions seems more efficient for them because they understand it better than bitcoin. Yes, they can be educated about capabilities but like anything, it is easier said than done. Theories work good on paper but application is different problem, that is what this looks like for people that avoid bitcoin, they do like the concept but the complex real time application is what keeps them away, familiarity to technology is harder to older people.

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It gives them hassles in their part but it doesn't mean that they are hated Bitcoin. Of course, I'll do the same especially if I'm sending it to another person, friends, relatives without a wallet, better to find another way. It is a sort of awareness, they need to transfer Bitcoin and os they need to create a wallet for it but somehow, they don't even know how to do it.

If they are willing to adopt crypto, using Bitcoin for less hassles transactions, then they should have to make it. It is just like spending time creating a bank account but the good thing in creating a Bitcoin wallet is much easier and faster which could only take less than 5 minutes.

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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 think that people avoid Bitcoin because they are not aware of all the important benefits that can come from using it and investing in it.

It is not such a easy concept for everyone to understand so this could make people turn away from it.

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We can't please everyone to use bitcoin even if it is much faster and safe to transact with other people.

Maybe, due to its decentralized nature, people are not using it and doubting bitcoin's value in the market which makes it a fake currency to other people.

People avoid bitcoin because of its volatility.

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For regular users, bitcoin is quite fast and convenient, you can receive money in minutes for a small fee.
However, for those who have never used cryptocurrencies, receiving and converting bitcoins into cash is a difficulty for them. They are forced to learn from scratch and have to find a way to sell bitcoin for cash, which is not easy.

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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,

Maybe what you mean here is that people aren't using Bitcoin in their day to day transactions because if you are saying that they don't allow bitcoin in their day to day transaction then there is wrong with it because miners are the ones who are allowing it not the people themselves.

One thing more is that, I can agree maybe that they transaction speed of Bitcoin is faster compare to others but easier?? I don't think so especially for those who don't know how to create an address etc.

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

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.

One reason is that they aren't knowledgeable enough to use Bitcoin. Bitcoin will not come to them but it is the opposite. Let the people come and use Bitcoin if they really want to have a faster and easier transaction like you said. One reason that I see too is the risk. Since Bitcoin is volatile, there is a chance that the value of the Bitcoins they're holding right now in USD will not be the same tomorrow.
Another one is that maybe they got scammed with Bitcoin that is why they chose to avoid it. Either way, people have different reasons to avoid it but still there are some who wants to use it.

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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 think now that people don't need bitcoin because they still prefer to use a traditional transaction. They will not have a problem waiting 2-3 days to see the money will be arrived. Perhaps, they need to have an open mind to accept the new things such as bitcoin to see the benefit of using bitcoin for their transaction. One of the benefits for them is they can cut the high fee in the transaction, and they can see the transaction will complete in less than 1 hour if the network is not too busy.

One day, they will want to use bitcoin, and they will have the option to send the money. Perhaps, we can let them decide, and don't force them to use bitcoin or learning about bitcoin if they don't want to know bitcoin.

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