Topic: Why people dey fear to invest in Bitcoin and crypto? - page 2. (Read 720 times)

Yes you are right. Recently that the government stopped binance from working in the country,  I had someone saying people are into cryptocurrency are people that does fraud,  I think this person have this mindset because he knows nothing about cryptocurrency,  he just sees cryptocurrency something that is not genuine. That is why it is important for people to do research to know things  better and not to think about things in their own way.

Currently like this, na we government naim dey make cryptocurrency look like say na threat to the country's economy, and e go come make all those people wey no get clear understanding dey think say truly Bitcoin is the major problem of this economy. But the truth is, even if them ban crypto currency completely from this country, na only small money go comot for the naira to dollar rate, then na there them go come take know say no be crypto be the real cause of this problem. Sometimes I dey believe say, them know the real cause but Dem wan just improvise to dodge the real cause.

To me, In today's world, anyone that sees Bitcoin as a scam Is just misinformed, because if you go out in the street of Nigeria and do a survey, and be asking people of what they know about cryptocurrency, I am very positive that like 80% of people will tell you what it is and the risk involved, especially in this my country Nigeria, and the set of people that are still ignorant about it are mostly the elderly one, because as of now, most of them are actually still old fashion, they still see business that happens online as scam, due to their past experiences, though it's quite understandable If you put into consideration of their past experiences doing business online, so right now, it's mostly the youth that buy into the idea of investing in cryptocurrency, because their generation believes in it unlike the elderly that still sees it as a scam.

You wouldn't blame your uncle for seeing it as scam we all know the implications of online business despite btc is now a recognised online investment, if not all other form Of online business is almost scam. Your uncle being skeptical about Bitcoin Investment, is as a result of Bitcoin volatility and unphysical nature which means an investment you don't have physical control over it. Just like they have been doing their business for long offline. As generation passes so do technology advancement increases and this is our own time you can not force them on it. After this our generation a new generation will come which might see another thing which may be better than Bitcoin and you may never want to also invest in such thing because you are use to bitcoin Investment.

When talking about online investment you should be specific, like saying we should invest in bitcoin not any sort of online business.

I cannot blame those that are not well enlighten about Bitcoin and cryptocurrency to be afraid of investing in digital currency because of the experience they had through MMM era who has resulted to the lost of lives of many Nigerians  for frauding and criminality. Many Nigerians lost huge amount to MMM so this experience made them believe that every other internet investment is a Ponzi scheme.

Those people that are afraid of investing on Bitcoin and cryptocurrency are those that are mostly not truly educated about how the system works, in otherwise I will say that they are laymen in the digital currency knowledged who only believe on the money at hand or money in their bank account as well as physical investmen. So telling someone that's not well oriented in the Bitcoin and cryptocurrency marketing to make in digital currency will seen to a fraud to him because of the level of internet related crime in the society.

You no go blame them if u cheek am well now, the kind fraudulent activities way dey happen now online too much they might have also heard from other people complaining how they were scam online but they have also forgotten that there are other legit investment online that can help them change there life for good.
Make I no lie for you internet fraudster (yahoo boys) don put great fear for most people eye na e make people dey fear to invest in Bitcoin and crypto believing everything is Ponzi scheme.

You see online investment don do many Nigeria shege. Na why em be sae, anytime you relate anything concerning online investment dem go first dispute first, telling how they have been scam from online investment on different occasions, even bitcoin investment. So them no go like do that mistake again to invest their hard earned money for anything like bitcoin investment.

I no d in any way blame anyone wey d fear to invest in bitcoin cos if na me I go feel the same when I don experience being scam from bitcoin investment from people I know and strangers, who talked me into investing in bitcoin without lecturing me by the basic of bitcoin but instead them prefer getting me scam due to how novice peso be.

For peso wey don experience such thing(bitcoin scam), how easy do you think is it to get them convince to invest in bitcoin after telling you their past experiences of being scammed from online investment? Very difficult I guess cos em d like you d tell them to risk their money again.

As a human being, em d very difficult to trust bitcoin or online investment after being scammed of it once or twice. So I no blame anyone wey d fear to invest in bitcoin cos if na me I go feel the same. No be everybody get that morale to risk their money for online investment because online don do many shege. Scammers are posing everywhere to appear real for crypto investment and they are using very method to siphon peoples money by promising much returns of their bitcoin investment for short period of time. Which is very wrong.

It is now left for us to begin to the lecture our brothers, sisters and friends about bitcoin so that they no go victim of scam for bitcoin investment.

Once we don get that done, our people go d fall less of bitcoin scam. And if we come tell them about bitcoin investment dem come to listen to us and invest with money wey dem go afford to lose.

I don't think people are afraid of investing in crypto (bitcoin)  and others. Most people just hear about crypto (bitcoin), but lacks knowledge understanding and enlightenment concerning bitcoin. People who do have knowledge, understanding and are enlightened, that are investors in bitcoin should encourage and teach people on how to invest and the benefits of investing in crypto (bitcoin) I think more people will invest without being afraid.
 
The scam online now, is also another disadvantage to many. But investing online especially profitable investments like crypto (bitcoin) Which will earn you more in terms of convert rates to our currency (Naira) is very significant. The thing is in every investment getting it right it's what every investor thinks before going into any investments, every one who have successfully invested in bitcoin also had this thoughts before investing their funds.

Bitcoin has been in existence since 2008 over fifteen years ago, and it has recorded significant growth since created and has brought many with knowledge and understanding of it benefits to invest. So I think the more investors are enlightened concerning bitcoin and the funds for investment is their more people will invest on bitcoin without being afraid.

Some people no go gree exchange Bitcoin and cryptocurrencies for various reasons. First reason be say dem no sabi anything about Bitcoin, and because of say dem no sabi, dem fit yan bad things about Bitcoin give people. The price of Bitcoin fit jaga anyhow, fit bring money but fit bring wahala too. Security matter dey like hacking or fraud for wallet and exchange. Plus, Bitcoin never get legal status for many countries for this world. Na why, many people dey fear to put money for Bitcoin and other cryptocurrencies. But those wey sabi Bitcoin well dey enjoy the financial freedom wey e bring.

Some people choose to ignore internet-related content because they are ignorant of it; even if someone tries to explain to them how the internet operates, they will not believe it. Moreover, even if you tell them that using this method of investing will pay off in a few days or a month, the internet is a place where you can make cool money without raising any red flags. If we don't use the internet in this life we now, the internet will use us. For this reason, That is why I do not condemn those who have dedicated their lives to the internet, it is better for us to be wise; otherwise, we are either making money from the internet or the internet will making money from us.

Furthermore, social media is not a place to have fun, it can also be used to generate revenue. Let's just say it's a moneymaking opportunity. Some people use social media to gain money, while others use it for other purposes, which might result in financial loss.
Your uncle has no knowledge of it, therefore I won't hold it against him. For this reason, he perceived it as a scammer because not everyone can even use a smartphone to discuss investing online because they are ignorant of the concept in the present. Even if we look at them, they prefer to save money in banks rather than online because they are unaware that the online is preferable because it allows us to make money whenever we invest any amount of money and keeps it safe from prying eyes. Accept yourself, you're the one control over all the assets you have in your wallet, because it is decentralized, unlike banks are centralized because they are owned by other people not you, but why some People characterize everything they find online as scammers?

You see, majority of person who have this misconception about Bitcoin or the entire crypto being a scam project are more of the aged people. And they can do without investment, but the set of person I have compassion for, Is the growing youths who are yet to experience life. Missing the opportunity to buy more Bitcoin now that it is still a bit affordable,  compared to what the price will amount to in the next few decades would be painful for anyone to have such experience. Even most educated persons still have zero knowledge about crypto currency, which has been existing for over a decade now.

However, the disbelief people still have for Bitcoin can be eliminated by prove. Taking for example the life of an investor with good reputation. But I wouldn't want to expose myself as an investor to the public for security reasons. They just have to take the risk and be gratefull later.

When you look at it critically, Ignorance is a big player here. Cryptocurrency is not well known to a lot of folks out there. Instead of them to the pain of researching to key into it, they lazily and ignorantly just tag it as scam. It is high time people come to terms with the fact we have shifted from the industrial era to information era. The right information will disrupt your life for good!

We cannot really blame anyone that thinks that crypto business is scam because in reality there are lots of scams and hacks in crypto, because if you go to YouTube, telegram, Facebook and other social media sites, you will see them advertising a lot of scam projects and a newbie without experience will invest their money in them, when they're scammed they will label Bitcoin as scam. This is why it is very important to get the right knowledge about Bitcoin and cryptocurrencies before investing money, everybody must carry out research before investing so that they will not be victims of scammers.

People need the right source to get information about cryptocurrency be they invest their money if not they will keep being victims of scammers, somebody you don't know on YouTube or telegram will tell you about a project and without researching if you pay them money or give personal details of your wallet and get scammed, then it will be easy to blame it on cryptocurrency. I always tell people to research and ask questions before paying for anything online.

Because they don't know how it work for those that invested their money on BTC and crypto and, you don't need to force such people to invest on decentralized currency because if anything happen to their money in the future, you will be held responsible. Just keep telling your uncle about the investment and what people have achieved from it and what people are still going to achieve from it when the bull run show face in the market soon.

But once they have the idea on BTC investment, there is nothing will change their minds not to continue to invest in BTC because what many people want from any investment is results which is the reason many people prefer to invest their money on BTC than any other investment.

This thing way you just talk really make sense, as e be say some years back many people no really belief say internet nah place wen money dey flow.
Na just this few years wen some youths and many other people for this our country con dey try to take the internet very serious, some people dey find the money from internet the legit way while some they do fraud and e no really good.
Before and now some people done already dey fear say the Internet nah scam place but really really the legit works nah plenty pass the scam ones, but nah just for them to dey sure say this one nah the right one, be the thing.

You fit confirm say people wey dey fall into the hands of scammers for internet no wise, the internet na place wey big and people dey make money from internet and some dey lose money for internet, e just depend on how you use your money and the end result will tell, secondly police and internet get big difference, just because the op say internet na our friend no mean say we go fall mugu and if you understand the op well you go know wetin the person dey try talk, the fact be say people dey say anything associated with the internet na scam and them dey carry put for bitcoin sef because them no understand the use of bitcoin, the internet no dey save because of how the person keep he/her money, you no fit spread your inform then you expect people to look you go scot free. I no get problem with people wey dey call the internet scam and other names cause no matter how you convince people them  go still think wetin them want due to their past experience but make them no call bitcoin scam.

Investment generally isn’t an easy task and with the cases of ponzi, you suppose know say a lot of peoooe wey been Dey affected in one way or the other go feel very reluctant to invest any money for online of them
No see them go fit hold incase bridge Dey for the agreement.
I actually no go blame anybody wey no get interest to invest in cryptocurrency because me personally been don see and hear a lot about these Ponzi schemes and believe me say I no been Dey moved to be a part Of the cryptocurrency industry and this was born out of the fear of been scammed as I knew bitcoin when scam and ponzi was very rampant online and hence you wouldn’t have to blame anyone who isn’t feeling comfortable or confident yet to invest in bitcoin but rather there comes reasons for them to believe.

The way I see not everyone is supposed to have an investment in crypto or Bitcoin, I mean c'mon that's the circle of life everybody must make it through your particular way that you deem worthy and good some people are meant to blinded by their ignorance about certain opportunity. Whether you like it or not that's just the sequence of life and so whenever I see people doing or reacting to some opportunity am trying to reach out to them, I simply just think that's how it's supposed to be because you can't be stressing on someone who has already had his thought without even getting to test out the thing you are showing him.

Cryptocurrencies no dey come from any central bank. Instead, dem be decentralized smart contracts. Dis one make dem no fit recognize am as legal money. The legality of cryptocurrencies dey cause fear for different groups, especially some governments wey dey fear say if dis system fail, e go bring down big economies. Some people dey worry say since cryptocurrencies no be legal money, e fit encourage illegal activities like money laundering, terrorism, and other frauds. Reports show say crypto-related crimes and scams don increase for the past few years, and investors don fall victim to cunning individuals wey dey take advantage of investors wey no get enough knowledge.

Cryptocurrencies na the most volatile investments for the world. The price fit drop or rise drastically within just a few minutes. Because of dis, many people dey fear to invest for the industry, as we see when the price of Bitcoin skyrocket for 2017 but come crash the following year. Even though no doubt say the volatile nature of cryptocurrencies fit cause fear, e na one feature wey make investing for the space na risk wey worth to take.