Topic: Why people are afraid on investing to bitcoin? (Read 1660 times)

I don't think more than a decade is that recent for me. Another thing is that it already generated a lot of profits from its investors the reason more people wanted to have their own bitcoins to save to also earn their profits. I guess scams and hacks is more probable reason why people are afraid to it.

for the newbie, fear of volatility is a good thing.  This makes the newbie does not recklessly enter the market.  that is, it considers many things, right?  imagine if the newbie just wants instant profit without having basic knowledge, will definitely be stuck at a loss.

Then, what distinguishes between people who want to progress and not is seen from the way to overcome fear.  if you dare to fight fear by learning, it means that the person is a hard worker.  if not, then the person is already fixed in his comfort zone.  nothing is wrong, it's a choice each.

Social factors and or about what they are looking for on the internet is very influential for them to know about bitcoin, if a friend you know personally does not mix with people who have income from the virtual world, of course friends you know don't know about bitcoin and who what makes you here, because even you can be here doesn't have to have someone you know personally, right? The world is growing and whatever information we need at least can be obtained on the internet, so if we already believe about bitcoin then hurry up to invest and don't have to wait for your close friends to get to know bitcoin first just to invest, bitcoin or cryptocurrency continues to grow over time but if there are still people who don't know about bitcoin, I think it's only natural that not everyone is aware of bitcoin because each has different goals and needs.

I hardly can count more than 5 people I personally know who ever heard about Bitcoin. Most people haven't ever know about it. There should be more company that accept bitcoin, and of course people have to see it more in their life. People will need to know more about this more and won't be affraid to invest in it. Currently it's not so widely used, so people don't trust in it.

While you are right we should not depend on the media to try to make bitcoin popular and be used by more people around the world, after all we know that for the most part the media is bought by the government and they are not going to bite the hand that feeds them so they are going to spread all kind of lies about bitcoin if they have to, however mainstream media is suffering from a credibility crisis and more and more people are turning to alternative sources to try to find the information they look and that is good news for bitcoin.

Sure, volatility is the outermost defiant force weeding out short-term investors or just people who want quick and short-term gains. The thing to realise is that this shortcoming is global it's not just you losing but a lot more so at least be comforted by that but the true nature of those who know about trading/investing and the market is seem at times like these where profit for them is still achievable.

You are not wrong. A lot of people want to buy at the dip because you will gain more. If you buy at 9000$ and imagine bitcoin falls to 3000$ and i buy obviously i see more profits than you and it can be very painful. So is because of things like this people are scared and nobody knows bitcoin next move.

In this regard, I must say that do you have really your confidence to trade or Makin investment by using Bitcoin. If you have then go for doing it. This is the right choice ever to make some profit. Many people are afraid of investing on Bitcoin because of price. Price can be different and it may increase or decrease. You must need some patience too.

Once people invest in a thing they become conscious about it and always try to check the price of their investment whenever they get free time. And 1 million dollars is actually a big amount to have in a single investment so if one day you see the Price of your investment go down in a single day by more than 20% then you will surely sell most of it so as to Cut back your looses and this will cause you to lose money, so volatility is the reason that people are afraid of investing in bitcoin.

You are right mate, anyone must dare to take risks if want to invest. Any investment has risks, even if its a gold or real estate investment and we know that.

I will not dispute them with regard to their understanding of religious norms because that would invite complicated debate. I also would not invite them to invest in bitcoin even for the first time. This is my own initiative to find out how ordinary people give their opinions on bitcoin.

There is no success without the intention to do it and most people who succeed are those who dare to do things that were previously considered difficult and not ready to do it.

We have different views on investment stuffs, not all are willing to risk, not all have a loaded mag, any one can be an investor but not everyone can be a risk taker. Investing on bitcoin takes a courage since it is true that you might lose your money ( proportionally to what percentage ), but if you're monitoring the market long enough your view in it might change over time. Religious norms? I haven't heard about a religion organization that prohibits any of this investment stuffs, or they consider the investment as a gambling practice?

Given that bitcoin has high volatility because there are many players around, this is also why traders are loving short-term investments. Being afraid is a natural feeling especially when you're doing it first time, but then how will you succeed if you won't try?

Bitcoin is not consistent. Sometimes the price of it gets low and if you are lucky it gets high. There people who are afraid in investing in bitcoin because they did not if they will get a profit or the will bankrupt. That's why bitcoin is a risk taking situation.

I had the opportunity to ask 5 different people about the interest in investing in bitcoin after I explained a number of things related to this investment. These five people give almost the same answer and that is the fear of losing because the price is too high, fear of being cheated, legal problems and religious norms so that I can conclude that for ordinary people especially those who dont fully know about bitcoin then they are not suitable people to invited to invest here.

Bitcoin price volatility is one of the reasons why many people are afraid to invest here because we all know that bitcoin investing is a risky investment. There are many risks involved with bitcoin and these are the things that they are considering.

Admit it or not we are all afraid to take risk most especially when it comes to money matters. When I first join here I am afraid to invest my time and my effort knowing that I have no assurance of gaining a profit for joining here but I took the risk because I need money and I want to earn money from the easiest way that's why I am here.

You are right; Your thinking is not wrong. Investing in bitcoin and cryptocurrency is really risky. Many are also afraid to invest in Bitcoin and cryptocurrency. Extensive publicity about Bitcoin and cryptocurrency can alleviate this fear and make investments profitable.

Probably because of the market function, unstable price, btc can be 9k this minute and the next minute it is falling down to 8k or less, anyone who buy at 9k after seeing such a dip will panic and maybe selling at loss thinking the price will not go back to their buying point, some people can't watch their investment going down like that.

Because it is a manipulated market. The value of bitcoin is decided by a highly centralized cabal of whales. The exchanges follow some sort of algorithm, where their prices go up and down all at the same time, with small variations between them, thus rendering it a controlled market. They allow bots and they dont have any circuit breaker, which could protect people's investments in it.

Also, bitcoin network is very slow, taking up to one hour for a transfer, even with the highest fee. Because of the slow network, many people prefer to let their money in the exchanges, as shortings are very fast, due to them being concerted between the whales, and enhanced by bots. Bitcoin can fall 60% overnight, and take weeks or even months to recover the value lost. For example, it have fallen from $6k to $3k very fast in 2018, but took three months to go back to $6k. This let people very uneasy about it, as a store of value is meant to cover expenses in case of emergencies, and emergencies can happen any time. Add to this the fact many exchanges are "hacked" from time to time, and you have the recipe for adoption failure.

For this reason, bitcoin have failed not only as a daily currency (since a merchant will not risk accepting something whose value can fall 60% overnight), but also as a store of value (there is no reason to send it to a personal wallet, since price can fall 60-80% any minute, and take months to recover).

Anyone who wants to make good profits from buy bitcoin must understand the reasons behind it holdings. Buying Bitcoin isn't the problem of many but they lack the needed confidence while the price of Bitcoin drop drastically. Many have regretted their actions of getten into bitcoin because they refuse to understand the ways it behavior. Buy bitcoin and hold is the best anyone can do, so, buy and hold are the secret of Bitcoin investment method that can't generate fears.

Because the adoption of bitcoin for daily life is still very low, so far bitcoin only prevails on the trading floor. What influences investors to be afraid to invest in bitcoin apart from price fluctuations is because traders do not have an understanding of bitcoin and do not have a trading plan or trading strategy.

Without a strategy the investor takes the following steps:

1. Bubble burst will occur, so sell all bitcoin you have and expect the market to fall as low as possible. So that the bubble isn't as bad as thought and the market is getting stronger, they don't have bitcoin.

2. Having a confidence bubble will never happen. So invest all your money in bitcoin and altcoins. When the bubble burst occurs, the prices of bitcoin and altcoin drop and not all altcoins recover when the market improves.

3. Not too well understood, so surrender and hope the bubble will soon pass and the market will strengthen again So base investment on expectations, not analysis.

There must be a trading plan so that when the crisis comes and lasts long, we can ensure that we are able to survive until the end. but if the crisis is not as bad as predicted, we can be calm because we are best prepared to take the opportunity.

You aren't wrong, I will also choose to buy bitcoin and wait. Some people bought some bitcoins and forgot about it, they became rich after a long time. People are afraid because they are trading day or short term investments, the margin is quite large and they only see risk.