Topic: Why people fear about BITCOIN - page 11. (Read 2128 times)
it's because bitcoin prices are very fast changing. because people around the world sell and buy it. and now bitcoin is increasingly in demand to rise rapidly in recent years. and the more famous bitcoin the more you want to drop it with the negative issue about bitcoin
First, is a new thing for us, there's no precedent to help us predict the future, then you see, volatility makes anyone afraid and as we know, people aren't fans of this.
Because of the misconception. There are people who look at the bitcoin as a threat or we may say illegal, I know a lot of people think about bitcoin as a scam they said that "How are you able to earn money with just internet?" so they conduct that it was a scam and some of the people like my friends thought that bitcoin can be used only in buying drugs, hire hitmen etc. (Illegal purposes)
And yeah the answer is they don't have that much knowledge about bitcoin and cryptocurrencies.
And yeah the answer is they don't have that much knowledge about bitcoin and cryptocurrencies.
When Bitcoin first emerged it was a novelty for geeks and computer nerds, a weird kind of internet money and then a means for criminals to laundrey money. Slowly but certain with a rollercoaster of ups and downs in the Bitcoin market bitcoin recently hits an alltime high of 7000 dollars. Taken notice of the critics but just keep trucking on, getting punched and beaten up but never laying down. bitcoin and the underlying technology Blockchain are both forces to be reckoned with and are here to stay. Bringing some regulation to the cryptocurrency is inevitable. Granted that bitcoin and cryptocurrency can be used for criminal activities so can Cash. And I never heard one politician advocating to ban cash.
Conventional money transfers cost money, because you need to ensure their safety, keep records and check the absence of double payments. For this intermediaries take a considerable interest. Moreover, it is the interest from the cost of translation - as if $ 100,000 is 100 times more difficult to transfer than $ 1000.
With the help of Bitcoin, you can transfer funds to anywhere in the world for a scanty cost, independent of the transfer amount.
With the help of Bitcoin, you can transfer funds to anywhere in the world for a scanty cost, independent of the transfer amount.
We don't fear we are fond of BTC BTCBTCBTCBTCBTCBTCBTCBTC
There are great count of reasons:
1. Volatile price — nobody want to risk (except investors)
2. Decentralization — if goverment doesn't support cryptocurrencies, all risk are lead on you!
3. Rumors — people think that bitcoin and othe altcoins are only for crime business and freaks)
1. Volatile price — nobody want to risk (except investors)
2. Decentralization — if goverment doesn't support cryptocurrencies, all risk are lead on you!
3. Rumors — people think that bitcoin and othe altcoins are only for crime business and freaks)
The other people dont know about bitcoin so we need to discuss about bitcoin to other people to help them and to understand what is the bitcoin but they still some people fear about losing their money.
The people fear about the bitcoin is due to its unstable prices the price will swing in bitcoin like the price will fall $2000 in a single day and price will rise also.So the people feels always insecure about their investment.
because bitcoin is a new technology that is different from anything we have known so far.
because it is decentralized and nobody controls it.
because the price is volatile and that makes buying it risky.
because it has a lot of enemies including but not limited to banks that attack it by spreading lots of false information that creates panic.
because most people are too lazy to do some research and see what bitcoin really is and prefer to continue using the old familiar things instead.
because it is decentralized and nobody controls it.
because the price is volatile and that makes buying it risky.
because it has a lot of enemies including but not limited to banks that attack it by spreading lots of false information that creates panic.
because most people are too lazy to do some research and see what bitcoin really is and prefer to continue using the old familiar things instead.
this the reality answer from you mate, the proof is many times bitcoin faces the problem because of this capabilty as first digital cryptocurrency the question the strongest bitcoin stability, alway people panicking if the bitcoin price are on dump situatoin thats the reason people fear to invest in bitcoin
but i believe for bitcoin and if the people understand the bitcoin have strogest capability any problem faces by bitcoin still in ontop among us in crypto world
and investment if bitcoin are have huge return profits.
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First of all, they fear because they don't know much about bitcoin or about how bitcoin works. Second because government didn't approve it yet, they said that bitcoin is not good for all of us and it is illegal. They also known bitcoin is mostly used in deepweb and blackmarkets.
They fear that the FUD being spread about it is real, and that they would lose the money they would invest in it. They also fear the technology because they can not understand it. Those are really the only logical reasons to fear bitcoin.
Even though bitcoin price has raised very high in the past eight years,still some people fear about losing their money as it is not backed by government or any other authorities.They fear that if it crashes suddenly,they would have to lose their hard earned money despite its higher value.Also,they fear that if their governments bans suddenly bitcoin,then it would become useless for them to hold it.Also,many normal people don't understand its functioning and they get totally confused to decide about it.
Because bitcoin is a cryptocurrency even though it is accepted by more and more people, it still can be listed as fiat coin. What is more, may countries have announced bitcoin is not fiat currency. But what make the holders happy is that the price goes higher and higher, this can added to their value. 
I think people are afraid that Bitcoin might be gone one day and would be worth nothing. Of course some had invested and even sold their cars, house and almost everything they own just for Bitcoin so imagine if one day it will be gone. It is pretty scary but as long as there are a lot of supporters of Bitcoin then I wouldn't worry that much though.
Another thing is that many dont really understand how it works and many also fear internet based investment because of scammers and hackers.
People have fear about issues connected to bitcoin, like volatility, lack of regulation and adoption, the fact that is new technology that could develope in many diferent ways and similar. On the one side they are attracted to bitcoi because of huge profit potential but on the other they have fear (with reason) that they could lose everything because no one can't predict for sure what will happen in a year or two or even further in the future.
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I think what people fear is volatility of Bitcoin. We have seen its value fluctuate in the last couple of weeks in significant amounts. But keep in mind that Bitcoin has gone a long way from the moment it was introduced. So it is really just a matter of taking risks and believing in bitcoin.
It's a contender over fiat system. It already shows that we don't need intermediaries to do trades or transactions with each other. Intermediaries are deeply built-in in our economies hence they've became an institution thus they've became powerful over time. But since the birth of bitcoin that very same power becoming more and more obsolete giving these institutions and governments less power than they used to have.
Number 1 fear is the fear of getting permanently ban on our country would result to a loss of investments in bitcoins, because government our not very supportive of bitcoin and other cryptocurrencies because it cannot be control by them, they are very suspicious of transaction coming from bitcoins because they cannot view what is going on and they could not overlook if the transactions are legal or not. And the number people of not aware and who is in disbelief of bitcoin are still too many and they are influencing many people to stop believing in cryptocurrency.
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