Topic: Why do people avoid bitcoin? - page 8. (Read 9253 times)

I believe 3 things people avoid Bitcoin first thing is not easy to exchange in crypto currency like money exchange any were any person two exchange and transferred different people but btc is not easy to exchange and transferred it's not available any were peopl exchange next one is so many people don't know crypto currency how to warms it's the main reasons to people's avoid btc there Don't know how to use and exchange btc coin and how to transfer last one is price fluctuations btc price is changing every minute people how to carry some amount next 1 minutes price is decreasing then will how can buy anything and transferred is very difficult to use in crypto currency price fluctuations

That's certainly true, mate. A large part of the world's population is still unaware about Bitcoin. In countries where there's no Internet access, people are used to physical cash for everyday payments. It'll be quite challenging to attract people from third world countries due to such limitations. People living in developed countries like the US and Japan may know about Bitcoin, but they avoid it because of price volatility on the market and the lack of a regulating authority. Those who're skeptical of Bitcoin believe it's a scam or Ponzi because of what they've been told from both the mainstream media and governments worldwide. As long as this sentiment continues, the majority will continue to use Fiat on top of anything else.

At least, Bitcoin has its loyal supporters backing it every step of the way. This will keep it alive and running for a long time. My guess is that both Bitcoin and Fiat will co-exist in the future. People will have an alternative financial system that's impervious to third party interference. Ultimately, Bitcoin will become the next generation of Gold as people embrace it for the preservation of capital. Sound money is what the world needs to protect itself from government corruption and fraud. Kudos to Satoshi for making this possible. Just my thoughts

First thing is the fear, because it isn't legalized around the globe. We've got more number of countries legalizing the usage, same is with the banning. Another important thing, people aren't used to it. As of now people are more convenient with the digital transaction through banking services and through debit/credit cards. The transition from cash to digital banking and to cards happened slowly. Same as that bitcoin usage also happens, but it requires time.

There are actually a lot of things to consider why majority of people don't prefer bitcoin in any of their daily transactions. But I'll give few, imagine you have a real cash or money do you still prefer to convert it to bitcoin just to transfer it to another person within or outside your country? well, I think it is not necessary because it will just make the process much more complicated for people who are not that familiar to bitcoin.

And of course, maybe at the same time, those transactions they're making are not in a hurry, as long as it was received by them at any date and time, for them it's fine.  

from there I think the government in a country must pay attention that bitcoin is very worthy of being made to be used in the transaction process because the time efficiency is very fast and of course it can make someone who uses it happy when it does not create a feeling of excessive disappointment.

Many people still do not know what the history of bitcoin is and when I found out only a few people know it but there are other people who are familiar with bitcoin and others are studying it what bitcoin is and what can it do to help people in the world of technology because bitcoin is so some people do not know it and others are afraid to invest in bitcoin because it is said to be very risky and some say it is a scam.

Imagine sending bitcoin to someone with very high amount of miners fee. What profit is there? It's like saying I buy a shoe online for $25 and pay shipping fee of $30.  As Bitcoin increases miners fee increases.
Why waste money on a crypto currency when there are others that I can transact on without such huge amount as miners fee.

Fast but the problem is that I don't think people will accept bitcoin as bitcoin. People in the country use an exchange to send money, they will send it as a bitcoin and then it will end up as fiat money in a remittance center. My guess is not for all, and at the moment, I can only choose to hold and trade instead of sending it as payment as I can only do it with one fiat.

People are slowly evolving as well as getting accustomed to using advanced technology. PayPal is now popular but before 2000 it was on a small scale. Think of it 10 years later, Bitcoin was born. Let the people adapt to the advanced technology. Those who are worried about Bitcoin and reluctant to use it will be the pioneers in using Bitcoin over time.

That's for those who have experience already with bitcoin. But for starters, like for those who doesn't have any single experience yet, one reason why they avoid bitcoin could be lack of knowledge. They don't have any experience with it but they've heard of it (bad things most likely like being used in the dark web or being used for fraudulent acts). That's why they're afraid to try and not that brave to take the risk.

But we can't blame them, though. Pretty sure, they're just being careful. Least we could do is become living testimonies that bitcoin is not a scam; that it is a breakthrough that when used wisely can greatly help someone, especially in financial aspect.

In my opinion, for an international scale transaction, at least the legal strength is needed so that our transactions are truly safe for both parties. The majority of bitcoins escape government regulations when a fraudulent act occurs, while transactions using third parties are easier to solve the problem of fraudulent transactions (for example, transacting using PayPal).

We will never object to paying higher fees or a longer transaction duration, provided that our money is safe. And transactions can be processed smoothly.

I don't mean to attack Bitcoin users, but some cases of fraudulent transactions using Bitcoin cannot be resolved easily due to limited information obtained by legal institutions.

The essence will not change, and nothing will happen to Bitcoin... It will be just as it is now to perform the function of transmitting value...
The market is cyclic and volatile not only for bitcoin! Absolutely everything goes through cycles of growth and decline ... Even if you compare a crypto market with a dotcom bubble, many projects of that time feel good!

Those people who are using bitcoin and trading it will never hate it. They know the potential and future of bitcoin. However there are people who are being scammed by the cheaters through ponzi schemes which ask them to invest bitcoins. Those people will have bad experience and they hesitate to use it.

There are many reasons why people avoid Bitcoin -

Most people in the world do not know about Bitcoin and do not know how to use it. Bitcoin transfer is easier than transferring money from a bank, but it is not so easy for those who do not know.

Infrastructural problems. The person you are transacting with must have a wallet to keep BTC but they are not required for cash.

Many countries around the world have not yet legalized bitcoin transactions. Many people use Bitcoin for fear of legal complications.

I don't avoid bitcoin yet, i really believe Bitcoin is like gold. If i invest in proper time, hold in wallet and wait patiently, i will get profits from it. Right now i am on profits. Many persons can take illegal opportunities from it but it is not illegal in most of the countries. We don't need to spread Bitcoin to door to door. Already it reached in many corners of the world.

Bitcoin is still not known by everyone, only 20% of the world's population is familiar with bitcoin and playing in it,
yes of course people are still hard to accept bitcoin because we know about volatility,
Bitcoin is known as a bubble in 2017-2018, and if 2020-2021 happens again so I don't know what will happen,
whether Bitcoin will be hated or not.

Simple, one does not know the technology, then one does not try it. I don't think there is already good system that would ensure safe and speedy transfer of bitcoin-converted cash from one wallet in one country to another wallet in another country. If there are good systems out there that can be developed then we should have already one setup for all to use. But since we still do not have one then it might be safe to say that the infrastracture is there (internet connection and all associated with it) but the software systems the transfer mechanisms (whatever it may be called) needs to be setup and setup properly as to avoid any issues. Money transfer is a good but risky business if not done properly I guess.

Its treu that bitcoin can be faster than classic transaction but for those people bitcoin still an unknow think
Thay prefer make a slow transaction via banks than make a super fast transaction with bitcoin because for them banks is trusted and you cant lose you money ther

For people who are not used to using technology in their daily lives, it will be difficult to accept and use bitcoin
because they do not understand this technology. If they are not used to using the internet in everyday life,
it is very unlikely that they involve bitcoin for daily transactions or for transfers between countries we find very easy.
Because it doesn’t need a second party like a bank. We don’t have to go in line at the bank to deposit money, or go to an ATM,
which is actually a waste of time. To get people to want to use bitcoin, it’s easy if they want to learn to know bitcoin.
And to learn it takes time, like creating a wallet and getting to know the exchange to transfer bitcoin to fiat and vice versa.

This basically summarizes why some people avoid Bitcoin in the first place. Lack of confidence is the main issue surrounding Bitcoin as people believe a decentralized currency not backed by a reputable authority is a scam or Ponzi scheme. If they knew how Bitcoin truly works, they wouldn't believe such misconception. We may try our best in spreading the word about Bitcoin as much as we can. But at the end of the day, the majority will use Fiat due to its widespread acceptance by businesses and merchants worldwide. At least, Bitcoin will have its loyal supporters that will keep the revolution alive for many generations.

Nonetheless, mainstream governments, central banks, and mainstream media have done their duty to try to harm Bitcoin's reputation in the mainstream world. It's no wonder why most people haven't fully adopted Bitcoin for their own benefit. Rest assured, that as the mainstream economy collapses, more people will resort to Bitcoin as a store of value. Ultimately, Bitcoin will become the next generation of Gold as it becomes scarcer with every halving event. The next 4 years will become quite interesting for Bitcoin as it grows in mainstream adoption due to the latest reduction in its block reward. The closer Bitcoin gets to the max supply of 21 million coins, the more demand it'll experience on the market. While Fiat will still exist in the future, Bitcoin will become a force to be reckoned with as it remains truly unstoppable. Just my thoughts