Topic: Why do some people refuse to accept bitcoin? - page 7. (Read 1282 times)

As much as the price fluctuation associated with Bitcoin is excessive, our local banks and government policies are known to use this starategy to discourage people from investing in cryptocurrencies in general. In Nigeria, I've received several emails from my bank stating that cryptocurrency is not a legal tender and that my bank account could be frozen if I'm found trading in cryptocurrencies. This kind of messages often make people desist from purchasing cryptocurrencies and makes them view it as an offence punishable by law.

Most of those who don't acknowledge bitcoin as a currency and do not accept it are the people who don't have adequate information about bitcoin and are having a misconception about it, some of them some time refer to bitcoin as a ponzi scheme and at it they see as a trap for them to lose they Money.

For these 3 reasons the Bitcoin is not very accepted yet:
  - The fluctuating prices of Bitcoin.
  - Bitcoin transactions are very expensive and
  - The value of Bitcoin for consumers.
When we have these well structured reasons we will have an excellent transaction in cryptocurrencies

https://www.icte.io/

They don't refuse, they just don't understand the ideology of Bitcoin. Once they understand, more likely, they would buy and hodl. Problem with people who don't understand the concept of Bitcoin or Cryptocurrency, they will listen to negative news first and accept it as the truth withiut even testing by themselves what Bitcoin or Cryptocurrency is.

You're somehow right but not totally right because the people which has permanent and steady income job still accept and invest into bitcoin. However, the basic why some people dont accept bitcoin is because they dont know what the bitcoin network really entails while some were scammed on their first time to try out bitcoin which what happen in some countries in the South America desist their citizen from bitcoin.

I have really devoted some of my time to educate, enlightened and teached as many people as I can on his to use and accept  bitcoin while few of them had keyed and bought the idea while others refused thinking that its a ponzi scheme due to its volatility, however if we can find a way of showing them how to use btc so as to convince them it will go a long way in making more people to accept btc.

Majorly, the reason I haven't key into the bitcoin ideology is because of the price instability the coin have experience overtime, I have been waiting for the perfect time to buy bitcoin but unfortunately, there's no such time as a perfect time, As we cannot influence pricing, i will wait patiently for bitcoin to hit 2k usd before i invest.

Many people have many different reasons, I guess.
As we know, some people even refuse to use Internet banking or credit cards online.
Why?
Maybe because they don't believe in tehnology, Internet, don't trust security etc.
Also, recently we could see a lot negative posts about bitcoin in the media, many rumors, speculation etc.

Peoples scared at bitcoin because of the volatility and the internet bitcoin has being used for a bad reason so much like ponzi scheme and fast rich scheme. This is why not educated peoples will think bitcoin is a must no to be involved at.

I believe that the main reason some people refuse to accept Bitcoin, it's because of its volatility and regulatory uncertainty. There have been many hackers in crypto land, as well as, scammers which have stolen funds from many crypto users. Also, Bitcoin's extremely volatile prices, could make it valuable or worth nothing within a short time frame. Because of these obvious reasons, many people are afraid to use Bitcoin for their daily payments.

Add to this, the slowness and high costs of the Bitcoin blockchain, which makes it terrible to use as a currency for real life. In some occasions, people are afraid to get into something that's new. However, sometimes new stuff brings you an opportunity of a lifetime to become highly wealthy and successful in the future. With enough education about Bitcoin and other cryptocurrencies, as well as, regulatory compliance within crypto exchanges, Bitcoin could gain the confidence of many people worldwide.

Until this happens, then I'm afraid that many people will stay away from Bitcoin as much as possible. As for my experience, nearly all my friends I've talked to about Bitcoin, have refrained from joining it because of the many risks involved. Someday, I hope that with Bitcoin's growth in price, and mostly, development, more people would join Bitcoin to make it stronger than ever. Just my thoughts

Pretty simple, people are just frightened. The high volatility, country-specific restriction, and restricted usage are making people refuse accepting or using Bitcoins. Also, not all are tech user-friendly, in simple words, they like orthodox culture, this is another reason. Even young people like to use cash rather than online payments, cryptos are not even in the scene. Proper crypto usage will take a few more time, maybe a few years.

People do not believe in Bitcoin because its current price is too low compared to the highest rate is achieved. Too many investors lose money when investing in Bitcoin, so people don't believe in it, always saying that this is one of the biggest scams in history. But I find that this is the foolishness of investors to accept investing in it for profit.

There are many reasons why people don't want to accept bitcoin. In my opinion people want to work by getting a clear salary. In order to fulfill their daily needs, they work to get a daily or monthly salary without worrying. So people who have not accepted Bitcoin are people who have permanent jobs and a steady income. Because the assumption that they work with bitcoin is a fluctuating result.

I believe no one is under a mandate to believe in the same thing as every other.
Some people thought bitcoin is a ponzi scheme that will soon crash.
Some has thought it is one of those internet fraud. And medium to scam people. Even though for this people are already doing it. Promising to make exchange for others and later swindle them.

if normal people i dont know why they refuse to accept bitcoin in their life, but if the government refuse to accept bitcoin because its not fit with the regulation of that country,

I think for them the value of bitcoin is  fluctuating  , and some of them don't understand how to get bitcoin, so they will be afraid to buy bitcoin.

Main reason for me why most merchant or people dont want to accept Bitcoin on their business is because of the government.
If one business under one country will not comply on the rules under law then they will go in jail.
Bitcoin will have a hard time of acceptance from different field unless it is regulated. due to TAXES issues.

For me if I have chance to pay with bitcoin I will really accept it because I know somewhere in the near future it will become more valuable. I do not know why some people refuse but for me I will really accept it.

Because some tend to see posible outcome rather than risking into something. Also earning doesnt garranty overnight, but you have work for it before earning it.

Since many scam incidents in the past, it discourage people to invest on cryptocurrency and it creates panic. I know in time they cannot refuse anymore to invest on bitcoin because it will grow more. We can also educate people so they can invest confidently and without any doubt in the market.