Why do some people refuse to accept bitcoin? - page 2.

rodel caling

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Quote from: Dudeperfect on January 16, 2019, 05:30:38 AM

To be honest, I believe that most of us are scared to adopt the change because there is a misunderstanding that it might affect the value of our wealth in a negative way. I have discussed the idea of adopting cryptocurrencies for day to day transactions with many shopkeepers and merchants but I found that they don't have an exact clear picture of what cryptocurrency is all about and how it can help them. On the other hand, the government and centralised bank are constantly issuing warning notices to stay away from cryptocurrency and it is planting the fear directly among those who don't have any idea about the benefits of cryptocurrency.

Banks are hate bitcoin or crypto currency in general because they have possible to destroy banking industry in the near future that's why banks blaming people adopting bitcoin possible their money become lost.
But so far so good even do bitcoin facing struggle now Ihear some more good news cryptocurrency adoption continue to accept of some big companies and some country learn about how to get benefits into bitcoin this an indication bitcoin acceptance are very helpful if they understand well what is the function of bitcoin as future currency in the worlwide.

mangsitin

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Because Bitcoin is a place to find profits quickly and can also make losses quickly, so someone who rejects bitcoin is a person who is afraid to invest in it, because Bitcoin is very fast when it experiences price declines, so some people hate this.

naufals4

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maybe there are some people who don't accept bitcoin because they see that bitcoin has a price that is easy to change, besides that bitcoin is still illegal in some big countries so maybe having bitcoin will be very risky according to them

otong

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Quote from: Kez1817 on January 19, 2019, 05:53:00 PM

Simply because they can't still trust bitcoin because of volatility and it is not stable unlike fiat money. Also they don't want to take the risk in accepting bitcoin.

yes, as we see today, there are so many people who don't want to jump into the world of bitcoin. because they only see the negative side. like the risk that we get if the investment will fear loss. yes the name of investment must also have a loss and how we want to go forward if we avoid challenges.

therhslv

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People tend to think that crypto is ponzi scheme , because news chanells always show bitcoin from darkside . In my country there was TV show about cryptocurencies and you know what they did show there ? Yes ''Bitconnect'' and how it went down . They never told what Ethereum , Bitcoin was and how it could help in some ways =]

andi_wahid

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nowadays people are very afraid to buy or store bitcoin because now the price of bitcoin is decreasing day by day, but let's see when prices continue to increase without stopping in the past few years people will be very brave to buy even in large quantities. this is very rational because everyone wants to make a profit.

normanz

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Bitcoin prices fluctuate coupled with poor market conditions so they would consider it a big risk. They get scared because they think bitcoin will end.

bantano

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Most people simply don't care about crypto. They don't see any advantage and getting started still too complicated to overcome their lazyness.

Thanasis

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Quote from: HiDevin on January 20, 2019, 10:41:30 AM

Like @logitechmouse said, volatility is one of the main factors on why people do or don't buy bitcoin, they are too afraid of losing all their earnings.

Also it might be the technology too, some people / most people in bitcoin don't even know how to sign a message with their bitcoin address.
Most "investors" use exchanges to hold their coins in and don't keep their private keys to themselves.
Even sending a transaction with a custom fee is a hard task for a beginner or some people in crypto because they are just profit-driven.

Its is one of the reason but many people don't have any knowledge about bitcoin they have been said by others that bitcoin is ponzi and scam so they are thinks that people who invested on it as idiots and wasting their time.If we can teach them what is bitcoin then they may accept it so not having the understanding is main reason.

imstillthebest

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Quote from: HiDevin on January 20, 2019, 10:41:30 AM

Like @logitechmouse said, volatility is one of the main factors on why people do or don't buy bitcoin, they are too afraid of losing all their earnings.

Also it might be the technology too, some people / most people in bitcoin don't even know how to sign a message with their bitcoin address.
Most "investors" use exchanges to hold their coins in and don't keep their private keys to themselves.
Even sending a transaction with a custom fee is a hard task for a beginner or some people in crypto because they are just profit-driven.

if they only knew that volatility is the main advantage of cryptos on why it is verry profitable . i think they will accept the risk if they really wanted to earn big income

Quote

Also it might be the technology too, some people / most people in bitcoin don't even know how to sign a message with their bitcoin address.

its not that hard to sign a message because there are guides online that can be easily followed . signing a message is not really necesary before someone will use thier first bitcoin .

Quote

Most "investors" use exchanges to hold their coins in and don't keep their private keys to themselves.

yes . im one of them . i use many wallet that doesnt have the ability to extract my own private keys but i dont experience any issues . its really up to the users if he is careless or not .

Quote

Even sending a transaction with a custom fee is a hard task for a beginner or some people in crypto because they are just profit-driven.

most wallets are now built with automated process . we didnt need to modify the fees whenever we send coin

HiDevin

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so.. hru?

Like @logitechmouse said, volatility is one of the main factors on why people do or don't buy bitcoin, they are too afraid of losing all their earnings.

Also it might be the technology too, some people / most people in bitcoin don't even know how to sign a message with their bitcoin address.
Most "investors" use exchanges to hold their coins in and don't keep their private keys to themselves.
Even sending a transaction with a custom fee is a hard task for a beginner or some people in crypto because they are just profit-driven.

Rebisco

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Quote from: Churck on January 16, 2019, 05:16:23 AM

https://medium.com/datadriveninvestor/why-your-annoying-friend-wont-stop-ranting-about-bitcoin-9808a132480

The author of this article believes that putting a small amount of currency you have into BTC can help you protect your wealth.

He says, “If enough other people believe BTC is money and use it; it’s money even if it doesn’t follow the old rules our nobel prize winning economists have told you. The old rules are being taught a new lesson by the market.”

What do you think about it? If you or your friends don’t buy any bitcoin, what is the reason?

Lack of the education is still the main reason why many people are refusing to accept bitcoin. There are only few people who are aware to what is bitcoin and majority of the people are still not aware. They will probably use it if they are aware and fully understand the blockchaint technology.

LogitechMouse

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2 reasons that I know why they are refusing to accept Bitcoin.

1. They planted in their mind already that Bitcoin is a big scam for them. This is one problem why we can't adopt Bitcoin or it takes time to adopt it. For some reasons like wrong explanation, they think that Bitcoin is a big scam that is why they don't accept Bitcoin.

2. The volatility of Bitcoin is one of the problems too why others refuse to accept Bitcoin. They are afraid to lose their money or their profit if they accept it. They are thinking "What if the price of it goes down then we will be in a loss" which is somewhat can happen to Bitcoin.

bitfocus

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maybe they are scared due to the FUds, maybe they don't like BTC - we cant force anyone to take BTC.

iv4n

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Quote from: AAKODI on January 20, 2019, 06:17:04 AM

Quote from: Pablito89 on January 16, 2019, 06:30:12 AM

I think a lot of people are scared by its price.
If you accept a BTC payment today, you could potentially lose 10/20% of its value in few hours.

High volatility of bitcoin is a major fact why most individuals and companies refuse to accept bitcoin and like you have mentioned someone can loose significant amount of money instantly due to it and that is why bitcoin adoption is very slow because organizations are afraid to receive bitcoin payments from there clients because they might loose significant amount of value if bitcoin price drop which is a really bad thing for any business but other than that I think bitcoin is a potential currency to accept

I will quote one sentence from article, its basically the same like my comments here about the same matter. "99.9% of people in the world don’t understand yet that they need Bitcoin". About how it works, about value, it`s on a side, ordinary people don`t know where money come from generally.
People don`t get how banks work, what governments do, how can we expect from people to understand crypto when they can`t understand the system where they live for years?
Bottom line is that people don`t know that they need bitcoin, we all need bitcoin and crypto, just that can save us from greedy banking system that make majority of human race into a slaves, and they are doing that for centuries.

AAKODI

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Quote from: Pablito89 on January 16, 2019, 06:30:12 AM

I think a lot of people are scared by its price.
If you accept a BTC payment today, you could potentially lose 10/20% of its value in few hours.

High volatility of bitcoin is a major fact why most individuals and companies refuse to accept bitcoin and like you have mentioned someone can loose significant amount of money instantly due to it and that is why bitcoin adoption is very slow because organizations are afraid to receive bitcoin payments from there clients because they might loose significant amount of value if bitcoin price drop which is a really bad thing for any business but other than that I think bitcoin is a potential currency to accept

Godday

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Quote from: anehh on January 20, 2019, 05:31:10 AM

Many factors cause people not to buy bitcoin, besides the price that is unstable, it is also vulnerable to theft or even because there is indeed a ban on the use of bitcoin. Based on that they do not want to suffer losses and lose or even violate the law so they do not want to buy bitcoin.

yes, bitcoin is unstable and risky because it's sticky to the nature of bitcoin, if we want to use it, we are ready to accept it. but if it's a matter of loss, loss and theft it depends on how they secure it and use their own bitcoin.

anehh

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Many factors cause people not to buy bitcoin, besides the price that is unstable, it is also vulnerable to theft or even because there is indeed a ban on the use of bitcoin. Based on that they do not want to suffer losses and lose or even violate the law so they do not want to buy bitcoin.

qiwoman2

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So many people are living in the past and only consider things like gold or paper fiat currency as money. People also around the world, especially us older folks, are technologically impaired, to say the least, and just don't want to learn about other forms of technology that might advance us in the future and improve our lives. Also, there are those who believe that Bitcoin is a bubble and seeing how the price dropped so much over the last year are too afraid to invest in such a volatile instrument. I don't think though that the price can always stay low forever, but bringing in new users to use Bitcoin nowadays is quite a hard task because first and foremost, it's all about building trust.

Gi01

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People just have little knowledge about blockchain and bitcoin and this causes them to refuse to accept the use of bitcoin for their transactions. In order for people to accept bitcoin, they must first understand whole ecosystem of cryptocurrency and blockchain.

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