Topic: Why do people avoid bitcoin? - page 21. (Read 9253 times)

First, people are afraid of bitcoin because they are not well-informed about it.  This is, in my opinion, the very first reason.  For many countries, the reputation of bitcoin is very negative, as it is primarily highlighted as a source of money laundering.
Also, the difficulty in use for many is an obstacle.  If such payment systems as PayPal have existed for a long time, and people are already familiar with it, then transfers in bitcoin, as already described here, seem very inconvenient to many.
But another reason for the reluctance to popularly use bitcoin is the uncertain attitude of countries.  Many countries have introduced a ban on bitcoin, and hence the fear of using it by the population of these countries.

Well.. I am using Bitcoin since 2012. I have used all types of wallets, including online wallets, desktop wallets, paper wallets, brain wallets and even exchange wallets. I haven't used hardware wallets because I thought that they are too expensive. There was a time when I used to store up to 15 BTC in my BTC-e wallet. It stayed there for 2 years and no one stole it. I didn't even had 2FA. What I am trying to say is that there is always a risk of someone stealing your coins. But it is rare, and if you take adequate security precautions, then you can prevent such robberies. 

IMO, two or three major reasons responsible for your observation are:
1. Education. Not everyone out there has the education needed to transact in bitcoin. The process of creating a bitcoin wallet is not as easy as opening an account in the bank. Once you have the wallet, the process of funding the wallet is not also that easy. The community here has got the vast knowledge and experience that is why it seems easy for us.
2. Risk. The risk involved in bitcoin transfer is very high. Imagine that you make a mistake in address, there is no way you can get your funds back. We are all humans and can make mistakes at any time. Sending money through other channels are less riskier so people will prefer to wait longer.
3. Exchange rate volatility. Bitcoin is very volatile. You could lose or gain value between the time of sending and the time your recipient withdraws the funds. 

here bitcoin plays an important role in finance and ease of development, but sometimes people are afraid to save a lot of money in a bitcoin wallet for fear of being hacked, forgetting passwords or writing errors that will disappear quickly, this is our consideration. It should state that everything is safe and comfortable in bitcoin. I have read the article about this, I think it should be fixed and straightened more carefully and stronger against hackers.

It's not as easy as you say.  First of all, Bitcoin is not accepted everywhere.  If you can't do anything with your money, is that money worth it?  Suppose you buy food, but Bitcoin is not acceptable wherever you buy food, then you must use local currency.  And there are some older people who are not experienced about online, it is very difficult for them to transact through Bitcoin.  So they are interested in a transaction that takes two or three days without this fast transaction.

I think there are many ways for Bitcoin to reach people and one of the ones I like the most is the following:
Through the payment of wages for Bitcoin.
If people have the ability to save money, they could save in Bitcoin.
There are people who do not know how Bitcoin works, so I think we must be constant to teach the pros and cons of its use.
From my point of view, Bitcoin will reach people on behalf of each of us to expand knowledge to the world.

In today's time when computers generate almost everything so it is very easy to process in remittance centers, it only takes a few minutes and the person you are sending money to can get. So other people prefer this kind of way in sending money than a bitcoin transfer because it also requires enough knowledge of the person you are sending it to. Both sender and receiver requires a wallet as a medium of transferring, and another thing the receiver needs to find a place where they can convert bitcoin to cash if they need to.

Ive been into a conversation to the one who actually doesnt have any idea about bitcoin. And from that I figured out someone like him may have a lack of knowledge about bitcoin. Same with the others who are avoiding it.
Also, others got scammed using btc's name. Perhaps they thought btc itself is a scam, too. But with the proper knowledge about bitcoin legitly works then probably they may not avoid and gonna try to use and invest into it.

On the other hand, there are still people that don't prefer cryptocurrency. Traditional money for them is more significant to use and disregard new technology like this.

 2 to 3 days for a money transfer ? lol is that thing still exist ? we are now in the year 2020 and all forms of transfers now are instant no matter where you are in the world or no matter what type of payment your using  .

 its not like a delivery that a money needs to be packed and travel by some time but they just need to remmit the money and then the reciever claim it but the thing is that  , people done this manually .

 they travel and wait for the lines before they can claim the money but if they will learn how to accept btc , they will never experience those dull moments again .

The logic comes like, people who prefer cash and those who prefer ease as a digital transaction. No matter how good the technology is, people might not like and don't prefer to use it for their personal reasons. What they've heard, what they know, and what they don't understand.
That only lies with those things and with what they've heard, it's likely that they've heard it that bitcoin is being used for illegal transactions only and they don't want to interfere. And what they know, with that thing they've heard, they prefer it to become their knowledge and extracting it as a fact.

Hmm, so we're supposed to educate people so they would become drooling zombies addicted to more direct education via brainburgers? 
You have a habit of painting some images around here I always end up laughing and envious of your imagination.


Depends where that transfer happens, if it's between two 3rd world countries and not directly bank to bank but some platforms that have their own timing it might be way worse than 3 days.
I experienced that with checks here in Europe, we had to wait for 30 days to receive the payment from those issued in the US, the worst method of payment I've ever come across and I can't understand how we even agreed to it, we canceled the agreement after 3 months, switch to wire or begone!
When it comes to international transfers but via the same banks in some cases, the transfers are insanely fast, I've seen payment getting though in an hour, sometimes you end up with no blocks mined in 60 minutes.


What would be the point receiving bitcoins and trying to sell your coins on an exchange and have to use a bank and a  wire transfer to get fiat, when the person in the case could have done that from the first step? It's a really stupid situation, in first world countries you don't need bitcoins because banks are pretty fast, when it comes to poor countries it makes no sense because to exchange bitcoins to fiat is even more troublesome than getting a damn bank account.
Not even mentioning the fact that once you start dealing with exchanges and receiving money from them the authorities might start poking their noses into this and suspect you of everything bad in this world.

I agree, it is difficult for the elders to learn new things, especially technology-related issues.
It takes a lot of time and effort for a new person to receive bitcoin and convert it into cash. Many people will accept to wait a little more time instead of learning about bitcoin.

There are many reasons for someone to avoid using bitcoin, which in my opinion the biggest one is that they do not know bitcoin and how it works. Many people don't know how to exchange bitcoin for cash and they don't like the hassle of having to learn it.
Besides that, governments don't like bitcoin so they often talk about bitcoin as a risky speculation, which also contributes to many people disliking bitcoin.

There isn't much middle ground at the moment. There are drooling zombies like us who 'get it' and will put up with some outrageous inconvenience sometimes. Then there's the rest of the world which is scared or doesn't give a shit or simply sees no reason to bother.

Education is what will pull Bitcoin upwards more than anything. More people need to educate themselves about it and some day the majority will meet in the middle.

Because there are still many people who don't know how to use Bitcoin, so they choose to use a bank which does take some time
for the transfer process abroad. Even though using Bitcoin is much faster, therefore it takes a lot of education related to Bitcoin.
Because of all the world's population, there are very few people who really understand Bitcoin.

I guess they think it is too complicated. They find bank transactions easier for them to understand (even if it is slower than bitcoin) and they are used to banks. They don't want to try something new. I know people that wouldn't risk a single cent when it comes to "receiving" money. Or I guess the person that will receive the coins does not want to go through extra paper works and those crappy taxes when it comes to holding bitcoin. Not to mention, the way sometimes the media portrays bitcoin sometimes, I wouldn't be surprised to see people reluctant to use bitcoin.

Something which is useful and swift as per you might not be the same for someone else. This is a human tedency. I have seen like tons of people who think Stock Market is place to lose money and therefore never in their life they have invested in any shares. When it comes to bitcoin there a few reasons:
1. Legality: some people feel that due to lack of clear legislation it's better to avoid such a thing. You for example  are regular user and this doesn't matter you but for a new person he won't like to associate himself with something new which is not legalized.
2. Conversion: Another issue can be that both sender and the receiver will have to convert their currencies into bitcoin first and they might even be afraid of the losses on exchange or maybe they just might be lathargic to add an unnecessary step in the transaction.
3. No greater Incentive: Generally time doesn't matter in retail transactions. People make international transfers way in advance because they know about the times taken. So a day or two here and there doesn't really matter to someone who is sending money for personal use. These things matter in businesses.

There is many reasons that people try to avoid using bitcoin and use cash instead of it. Yes bitcoin is fast and easier to use. But do you see any psychical infrastructure here? The answer is no. You can't use bitcoin without internet. Which is one of the disadvantage of bitcoin. For this many people prefer cash over btc.

Not everyone have the knowledge about bitcoin is the first reason why people still prefer wire transfer and also people might be facing difficulty when converting the received cryptos into fiat due to regulation and some people doesn't want to give their personal information to random site called crypto exchanges.Thongs may change in the future, at least start the change from yourself.

"Faster and easier", "daily transaction"

Avoiding and not choosing is bitcoin is different, it may seem that bitcoin is fast and easy to use but it's only on the internet, when you get to buy goods or services physically it is convenient to pay in cash. It's faster compared to wired transaction. Digital banking now are faster and easier than ever, this might be the greatest hit against bitcoin. People don't stop themselves from using bitcoin, they are just not choosing the way it is now.