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Topic: Why do some people refuse to accept bitcoin? - page 4. (Read 1282 times)

hero member
Activity: 3024
Merit: 680
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I'll put my shoe to the people that don't want to buy bitcoin. The very reason is that most of them are scared of it to fluctuate to the point that they don't like.

Most of them knew that the price went to $20,000 and went down to $3,200 so at this point, they aren't willing to put that much money and risk it knowing that it can go lower.
sr. member
Activity: 2618
Merit: 439
some people refuse to accept bitcoin because they feel the government has not yet approved it and so may be worth nothing, secondly people think if you pay them in bitcoin, the price may drop causing the bitcoin to loose value. people also think bitcoin may get banned and the dont want to be caught in between
What do you mean worth nothing? Bitcoin's price has grow tremendously for all we know? Even if government doesn't approved it, bitcoin will continue to flourish because of its decentralization. Volatility and risk involved are the biggest reasons why there's a lot of people still not willing to try to invest or enter the market, for majority of them, the risk is greater and they afraid that they will lose big money.
jr. member
Activity: 354
Merit: 1
most people today are afraid of buying bitcoin because they see a fall in prices that are so uncontrolled that they fear that the price decline will have no limits and make a big loss for them. this is very human because no one wants to lose money.
full member
Activity: 518
Merit: 100
I think the main reason for that is that other people who have not yet engage to the crypto currency community is those people who have not have enough knowledge and ideas how Bitcoin really works and a thw goodness it may bring to us. Well, I am a proud Bitcoin user and I greatly accept Bitcoin will all my heart since I come engage to it even how hard the crypto market it is now.
legendary
Activity: 1414
Merit: 1001
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?

I am one of those who believes in Bitcoin as a financial system that will be used in the future.
Bitcoin has a system that is so good because it has security features and excellent flexibility.
To convince someone to use Bitcoin is easy, we just have to use them to use Bitcoin and look at the person's reaction.
legendary
Activity: 2716
Merit: 1017
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Around me people many refuse to accept bitcoin is that most of them hard to understand how this currency works, and they do not care anymore about bitcoin. Even though they know the benefits to be gained if using or investing in bitcoin.
member
Activity: 420
Merit: 10
“Tackling Climate Change Using Blockchain”
There are so many reasons for people refusing to accept bitcoin. One of these reasons is the lack of support from their government. Instead of allowing bitcoin some countries really banned it. Other reason could be the volatility of bitcoin, which makes it not so useful for storing money especially if prices keeps getting lower in value. These are things I have observed as a very common reason. But should people use bitcoin everyday for a specific purpose I think the volatility of the coins can be eradicated as much and it will become stable.
sr. member
Activity: 854
Merit: 251
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.
maybe you say there is a truth that people are afraid of too much risk in investing in crypto currencies so that not accepting bitcoin may also be because the government forbids crypto currency to be used
sr. member
Activity: 1009
Merit: 328
The main reason people reject Bitcoin is because the price of Bitcoin is very volatile. And the second reason is that, because people don't know how to buy or use Bitcoin.
Yeah right, some people don't know about Bitcoin, so they will quickly reject Bitcoin, because they don't know how to operate Bitcoin. And for people who understand Bitcoin, they might refuse because they know that Bitcoin is vulnerable to hacking and so on, so that the person rejects Bitcoin.
Yeah that's a lot of reasons I see, of course they don't really know much about bitcoin, but have interpreted that bitcoin is a detrimental investment because fluctuations bring prices down very deep, which makes them not interested in using them as investments or currencies
Yes I agree on that, I believe that there are so many people that didn't even know what is bitcoin yet and some other people didn't trust bitcoin as form of investment. Will I believe that we cannot blame everyone for not trusting bitcoin because this is really a profitable yet a risky type of investment so if we want to earn we needbti take a big risk on this feild.
sr. member
Activity: 1162
Merit: 251
The main reason people reject Bitcoin is because the price of Bitcoin is very volatile. And the second reason is that, because people don't know how to buy or use Bitcoin.
Yeah right, some people don't know about Bitcoin, so they will quickly reject Bitcoin, because they don't know how to operate Bitcoin. And for people who understand Bitcoin, they might refuse because they know that Bitcoin is vulnerable to hacking and so on, so that the person rejects Bitcoin.
Yeah that's a lot of reasons I see, of course they don't really know much about bitcoin, but have interpreted that bitcoin is a detrimental investment because fluctuations bring prices down very deep, which makes them not interested in using them as investments or currencies
legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
some people reject bitcoin because they don't understand bitcoin and some people don't know how to use bitcoin. many people are afraid because of the price of bitcoin which always changes up and down.

Exactly. A good example of this is Warren Buffet, who doesn't believe in Bitcoin no matter what. Considering that he doesn't understand the true potential of Bitcoin's blockchain technology to change the world, it's the reason why he behaves that way. Despite this, what most people read is mainly negative news spread all over mainstream media. However, they don't take their time to make a research about how Bitcoin and other cryptocurrencies work, and their true purpose for the world.

For this reason, there are still many people which are refusing to accept Bitcoin as their alternative currency for daily payments. The only thing that could attract them, is if there's proper regulatory measures in place across cryptocurrency exchanges, as well as, quality education about how it exactly works. Other than that, people will continue to refrain from using Bitcoin or any other cryptocurrency on top of Fiat. Just my thoughts Grin
full member
Activity: 1489
Merit: 150
The main reason people reject Bitcoin is because the price of Bitcoin is very volatile. And the second reason is that, because people don't know how to buy or use Bitcoin.
Yeah right, some people don't know about Bitcoin, so they will quickly reject Bitcoin, because they don't know how to operate Bitcoin. And for people who understand Bitcoin, they might refuse because they know that Bitcoin is vulnerable to hacking and so on, so that the person rejects Bitcoin.
full member
Activity: 456
Merit: 100
Borderless Mobile Finance Marketplace
some people reject bitcoin because they don't understand bitcoin and some people don't know how to use bitcoin. many people are afraid because of the price of bitcoin which always changes up and down.
member
Activity: 574
Merit: 11
because people still don't know about bitcoin fully, besides there are also some who know about bitcoin but are afraid to invest or buy bitcoin because of the ever-changing value
newbie
Activity: 8
Merit: 0
There are few reasons for this:
1. Many governments not adopted as a legal tendor for payment.
2. Banks are not supporting.
3. Many Ponzi schemes are associated with this
4. Traditional approach of thinking and mindset.
5. It is not available in physical form so that people can trust on it like fiat currencies or gold or any other commodity.
6. It is not user friendly to spend / purchase / sell.
7. In many countries it cant be converted to their currency as government not supporting.
8. Negativity is more about crypto currency.
9. Difficult to understand its basic concept.
10. Safety concerns.
11. High Volatility.
12. It is still considered that this is more used for illegal purposes.
sr. member
Activity: 798
Merit: 251
Small Trader
The main reason people reject Bitcoin is because the price of Bitcoin is very volatile. And the second reason is that, because people don't know how to buy or use Bitcoin.
hero member
Activity: 1040
Merit: 538
Defend Bitcoin and its PoW: bitcoincleanup.com
People don't want to use Bitcoin for buying stuff because cash is a bit easier to use and Bitcoin has a volatile price so they can lose a lot of money. As for imvesting, some people don't have time or the nerves to do that or are just scared of losing money. I really do understand those people, but ai don't have an explanation for those who hate Bitcoin or have something against it.
member
Activity: 322
Merit: 10
Bitcoin is pretty young, and also negatively on the people's confidence in him influence his instability and skepticism on the part of the state. But I think that this will not last forever and eventually everyone will understand the benefits of bitcoin and start using it.
copper member
Activity: 2968
Merit: 575
www.Crypto.Games: Multiple coins, multiple games
They do not want to accept it probably due to the volatility of the price. Even though, the price isn't that much volatile, they do not want to go through all those hassle to convert back the coins to fiat. Another reason might be the spread of negativity of bitcoin and other crypto currencies. The media spreads the negative news about bitcoin like a wild fire. Newbies read those news and ends up being ignorant and hating bitcoin.
jr. member
Activity: 475
Merit: 1
Tackling Climate Change Using Blockchain
some people refuse to accept bitcoin because they feel the government has not yet approved it and so may be worth nothing, secondly people think if you pay them in bitcoin, the price may drop causing the bitcoin to loose value. people also think bitcoin may get banned and the dont want to be caught in between
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