Topic: Why people dey fear to invest in Bitcoin and crypto? (Read 709 times)

A lot of people fear bitcoin because of volatility because in it price change, lack of regulation, negative publicity and perception, uncertainty of the future, fear of missing out and alot more

Although cryptocurrencies like Bitcoin don see high returns for di past and dem dey often consider say dem get lower risk factor. E dey important make we sabi say e still get serious risks wey e dey carry.

Di absence of regulation and di uncertainty wey dey regulatory matter, di plenty wahala wey dey volatility, security risks, complexity, scams and fraud wey dey revolve around di crypto space as a whole na some reasons why people fit still dey fear to invest for cryptos.

To invest for cryptocurrencies, make person dey careful and understand di risks wey dey involved.

Of a truth, in this modern age and time wey we dy, na only people wey dy misinformed or uninformed go fear to invest in Bitcoin, because Bitcoin have proven over and over again that it can always rally back if their is any setback in price, and besides, it's an asset that appreciate overtime, so any body wey still dy fear no really know whats up.

Lastly, there are some people for we country wey dy take anything wey dy for internet as scam, base on wetin mmm and others don do Dem, those set of people, nothing you wan tell them wey go make them change their way of thinking, so na to just let them be, no just worry Dem, because their mind is made up.

That is a Ponzi scheme which is quit different from crypto. Ponzi scheme is rob Peter to pay Paul and this isn't how crypto works. Although most don't really know how crypto works, they believe all online investment are the same. I'm also part of those people scammed during MMM but that doesn't stop me from trying again. Just that I can join any ponzi stuff again.

Many people have experienced so many things from digital investment that is making them to be afraid of BTC and crypto because, they discovered that without internet you cannot spend your money or withdraw your money to pay for goods or services like the way they use fiat money when they have it in their house or pocket.

Some are afraid to invest in BTC and crypto because if anything happen to their money no office to run to physical to lay their complain like the way some hackers will have access to someone fiat account and the person will run to the bank to find immediately solution for their customers care, not knowing that if they keep their BTC and crypto details very well nobody can have access to their money which is the one of the advantage those that have the knowledge of BTC and crypto are enjoying.

Bitcoin is either lawful or unlawful digital technology In a decentralized and non custodian system that's why it's illegal in some extends of societies which such is aggrieved based on how its rumours speculates in affecting people either to believe that it's productive to invest on or not.
So literally there's always supposed to be circumstances to understand anyone who's in doubt of bitcoin. As usually said that ignorance is not an excuse, but here on bitcoin considering all manners of positive and negative rumours of bitcoin and the crypto currencies as a whole, ignorance towards not accepting or not being educated about bitcoin or the crypto is an excuse because there'd always be alternatives to gain those services that the cryptos possesses. Is it about the potentiality services of alternative means for payments? Or is it about the potentiality of investment?
All these carriers of bitcoin or the cryptos has already been in existence only that it's a compatible and a digitalized and a centralized technology.

Please let's always note this that bitcoin doesn't require to be hyped because it's non of the MemeCoins than subjects it's potentials to hyping which attracts its investors.
I'm only agreed to explain and advice people to invest on bitcoin but I can't affordable to persuade or convince anyone to it because when the downside of it's deflation comes where the inventor is not emotionally stable to accepting  the situations, you'd be hold responsible inclined with any means the assets is being manoeuvred or anyway being lost.

Don't even find it something funny or thinking you're a generous of showing people the way to bench a national economy inflation.
Your uncle doesn't have to be blamed because he's under the influence of the safer side based on his thoughts about bitcoin being unreliable and disreputable.
Here Op I bring you a thread one of our fellow made that discusses about "Not to pressure anyone on investing in bitcoin. https://bitcointalksearch.org/topic/m.63786281


I'm also pleased to had come across this thread after I recently made a thread there in bitcoin discussion board that talks about the "Dangerous insights on a bitcoin Investor". https://bitcointalksearch.org/topic/m.63846344. In here despites the fact that bitcoin is a legalized financial technology in their society, those who're uneducated and ignorant towards it are still in doubt of It saying it's a fraudulent invents.

I know say na because of the lose of money na dey make people no dey like to get interest in all this investment which is not bad but it doesn't make sense for one to keep living like this avoiding new innovation which you don't know . Make we dey try to make research to know things better and understand how it works, make we no too dey so conscious neglecting things that are new, make we first make research about it to know more about it to know if it is good or bad. Because having the fear of losing money can make us to miss Opportunity that will benefit us.

   Na wetin dem dom pass tru na him dey cause am,MMM and Baraza don make people no fit trust investment like dis again ,aside from that,some small small investment wey dem dey do too no dey favour,even person wey you trust dey scam you,and he go feel like say nothing dey happen,so people don taya for everything,e pay dem say make dem dey manage the small wey dem get Dan  for person to scam dem some people go even go borrow on top say make dem life improve,but scammers dey one corner dey wait for your money very painful.

I believe that one of the main challenges is the absence of legislation and regulation pertaining to cryptocurrencies. It can be challenging for people to feel comfortable investing in digital currencies because different nations have varied rules and regulations pertaining to them. There is also the security concern. Given the abundance of reports of cryptocurrency exchange hacks and users losing their private keys, it makes sense that consumers would be concerned about losing their money if they made an investment in cryptocurrency. Additionally, some people's fear of the unknown prevents them from investing because, even after you explain things to them, they might not know how to proceed. E get some wey their no dey fit carry computer, dem go learn tire yet nothing go enter their brain, while some people dey fear to invest na say dem no dey civilized, dey just believe in old days and are not ready to learn either although no be their fault sha.

The economy is so messed up right now, nobody get money to spare everybody dey try survive.

It's not all online stuff that are scam. The problem people like this have is FEAR. They are scare of losing money. Claiming everything is scam will set you back when others are making it. Giving a trail with just a money you can avoid to lose can change your story for good.

make you no blame people wey dey fear to invest in Bitcoin, the reason na either say them never really sabi wetin bitcoin be about or you no tell them well (if na you dey try introduce them to bitcoin investment). just imagine say you never hear about bitcoin for your life before and one person just come out come tell you say bitcoin investment nah the best, say when you invest money, you go make extra money as the bitcoin price dey fluctuate. shey e go be you like say the person dey speak language wey you never hear before. and considering the fact say plenty scammers don full internet today, dey collect money from people around the world all in the name of bitcoin investment, trust me, if na you self, you go safeguard yourself and you no go wan fall victim to any of those things.
wetin people really need na to get the right knowledge from the right source wey go make them really understand wetin bitcoin and the technology be about, and how them go actually dey benefit from am, no be to just tell them the surface explanation and then expect them to just rush come because you tell them say them go make profit from internet.

One of the reasons is that people understand the fundamentals of Bitcoin, such as the fact that it does not have a steady price, which is one of the reasons they do not want to invest. They do not want to lose any money. They've forgotten that no suffering, no gain. That is how Bitcoin works; if your emotions are secure, you can go with whatever the market brings you.

And I believe that because of this increased understanding, people are now convinced that bitcoin is not a hoax. The issue of bitcoin scams has been decreased. Aside from the positive aspects of bitcoin, people continue to swindle people, but only for those who are new to the business; if you understand all of their arguments, they will find it impossible to fool you. All you need to do is always conduct your own research. And for some reason why people see it as a scam is because of what they have gone true in the past but if you have knowledge on something then you have nothing to fear.

Different people with their different understand of Bitcoin, some people not believers of Bitcoin for different reasons best known to them but I understand that the major reason for some person reluctant behaviour towards Bitcoin is scam, many individuals believe that Bitcoin is a scam even without being directly involved in the process, though it might sound very disappointing but it is true, we don't blame them much, no matter how sanitize a system is, there will be some set of persons that will never believe that such system is devoid of scam and it normal because we never can tell what such person's has gone through in the past, may be as a result of that they decide to pay deaf air to any investment.

O mehn I no go blame them at all cause my first experience for this crypto been Dey brutal, I go use my house rent invest thinking say I go get profit or make am, na so dem scam me, I been Dey homeless for one year bro , I suffer Watin no good but now I no go lie I don gain experience and I Dey invest dey get small profits sha, life na risk.

All those people's that are seeing Bitcoin as  scam the only thing I understand there is that is just because they don't know much about which is means they don't no any thing about the Bitcoin that's their just be talking about the Bitcoin like that, this type of people's are put discourage on some that are really want introduce themselves into online investment, since una no have any interest about the online business instead of them to allowed those that have interest on it to continue their things, but they will be discouraged them that online investment is full of scammers which if they say they can afford online investment they may end of lose.

One things in this life which so many of people's do not understand is that some of we don't take a risks we can become what we wish becoming since is the money that are use to find money so what will stoping us from put head and take risks in other to be a successful person. Even this your uncle that is seeing it as scammers once he also try it and receive the benefits from the online investment I believe that from that day it won't call that waiting concerned internet is full of scammers again, to be honest if we can look it today online business is the feeding most of people's now.

All those people's that are seeing Bitcoin as  scam the only thing I understand there is that is just because they don't know much about which is means they don't no any thing about the Bitcoin that's their just be talking about the Bitcoin like that, this type of people's are put discourage on some that are really want introduce themselves into online investment, since una no have any interest about the online business instead of them to allowed those that have interest on it to continue their things, but they will be discouraged them that online investment is full of scammers which if they say they can afford online investment they may end of lose.

One things in this life which so many of people's do not understand is that some of we don't take a risks we can become what we wish becoming since is the money that are use to find money so what will stoping us from put head and take risks in other to be a successful person. Even this your uncle that is seeing it as scammers once he also try it and receive the benefits from the online investment I believe that from that day it won't call that waiting concerned internet is full of scammers again, to be honest if we can look it today online business is the feeding most of people's now.

My dear no blame anybody orientation or concept about online business o. Nigerians prefer face to face encounter. Incase of any issue make dem see who to hold.
E get one online platform wey u go need invest some amount of money den u go Dy run their task everyday and then get paid daily. When my friend introduce am to me I no gree untill en begin Dy withdraw wey com impress me to join. I join I recover my money wey I invest until dem come bring offer to double our investments wey make me go put another money inside, not knowing say that offer na plan to crash. The offer was appealing so many people put huge amount of money, the next day the thing crash people begin cry, lay curse and so on.
As I Dy talk to you now one of my brother no even trust opay, palmpay, moniepoint e.t.c due to say dem no get physical structure of which dem get. To show the level of havoc online don cost us many of us here too don b victims to so many of all this online platform.

On before now, a lot of Ponzi schemes business have come and go, if you could recall back in 2017, the boom of Ponzi business such as the MMM, Twinkas, Gethelp, and just to mention a few, which run many Nigerians broke after they went thin air, in this case it will become very difficult for a victim of MMM or a couple of other platforms that scammed many Nigerians to believe any business on the internet, especially, those that are advanced in age, except for the fact they've seen someone they know profiting from Bitcoin over a long period of time before they would think of buying the idea.

But one thing you should understand is that Bitcoin is made for everybody but not for everybody, meaning that, in as much as it's accessible to everyone, not everyone would buy the idea, therefore leave those that understand the benefit to take their decisions.

Part from this government issues with binance wey dey bring serious bad reputation for crypto, some of all these scam airdrops wey we dey see sef for everywhere na another thing wey dey bring bad name for Bitcoin and crypto. When people don try to use the airdrop and e come reach the final stage to withdraw the coin, some of this airdrop dey ask for small gas fee wey you go use to withdraw their coin and when you put your funds, it might be $10, $15, $20... To act as gass fee, you go come dey receive some withdrawal error wey go just dey consume your funds anytime you try am. So if people fit get this kind experience tell me why Dem no go think say the entire cryptocurrency network na scam? Until them get the knowledge of crypto and know wattin dey sup for the network, Dem no go fit understand with lay man knowledge.