Topic: Why people fear about BITCOIN - page 8. (Read 2161 times)
Because bitcoin is a decentralize and nobody is controlling it even the government. Bitcoin is in the modern technology era, so many people don't have knowledge about bitcoin, they only see it as a potential scam. Bitcoin price is changing from time to time even in a minute there will be a big difference (volatility)
Hearing it for the first time surely won't let the user accept it. Only when they start realizing it to be more worthy is upon the difference they find in the price between the day of buying and the day of selling getting the user a profit.
Unfortunately people just don't have enough information about bitcoin. There is also a lot of false information on the street, which makes them prejudiced. For me it's a bit weird but there are even those who see it as a fraud.
Due to such high fluctuations....
This fluctuations affects only short-term investors, and daily traders, but they earn from this fluctuations. On long-term bitcoins have much better results and who invested and hold bitcoins for more then year is in very good profit.
The answer is simple. It's because they don't have enough knowledge about the Bitcoin they are lack of knowledge about the system, the used and the opportunity it can bring to a certain person or community.
I'm a proof of that. I'm a student and i choose the forum as my part time job because you can work at home and study at the same time, the only thing you need is have a time management and when i started to earn profit and exchange it to our local money (FIAT) i started spreading the words to my friends and families and most of them are really doubting about it. They thought that the internet is for searching only or what and said that it may be illegal since you can't earn through internet and some of them thought the bitcoin is used only in black market or in the deep web and once you have bitcoin your doing illegal.
So i can't do anything about it, even tho i want to share my knowledge about it they choose just to stay away from it.
Lack of understanding is the main problem, people don't understand bitcoin, people don't understand fiat. They don't know nothing about and demand, who make the rules. Many times I felt desperate in trying to explain people around me what is what without success. We can't do nothing about that, I think they will be convinced one day when their boss tell them that they will be paid in crypto and they will be forced to learn more. I'm a proof of that. I'm a student and i choose the forum as my part time job because you can work at home and study at the same time, the only thing you need is have a time management and when i started to earn profit and exchange it to our local money (FIAT) i started spreading the words to my friends and families and most of them are really doubting about it. They thought that the internet is for searching only or what and said that it may be illegal since you can't earn through internet and some of them thought the bitcoin is used only in black market or in the deep web and once you have bitcoin your doing illegal.
So i can't do anything about it, even tho i want to share my knowledge about it they choose just to stay away from it.
Because of high volatility nature and the price is always depends on buying and selling demands
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There are lots of things why people are feared on Bitcoin. Bitcoin is decentralized so it is not under any government and it also means that no one will take full responsibility if ever there's something wrong happen. Also its value is volatile so there are times that its market value will fall which is a risk as an investment since tgere's a tendency for an individual to lose money. But these things are just temporary i guess and maybe in the future these things will be solved and will make Bitcoin a better crypto.
They fear that bitcoin will die one day and they will lose everything because one bitcoin is not cheap and someone who works a lot and does not earn that much and invests everything he has saved into bitcoin it will keep him scared that he can lose it all.
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i think because bitcoin recognized about bad things like criminals, money laundering, gambling etcso people who not know about bitcoin will be afraid to start and use bitcoin
i think its not good for people not trying with bitcoin, because if people know bitcoin is profitable i think people race with bitcoin
Some people fear about bitcoin as they see bitcoin being a digital currency working in internet.They have already seen lots of internet scams already and so they feel that some day bitcoin would also turn to be a scam.Adding fuel to the fire,no one knows actually who satoshi is who created bitcoin and whether he is alive or not.It seems suspicious.Also they see its price being very highly volatile increasing even thousand dollars in one day and falling down thousand dollars in another day.
We will not blame other people if their afraid to invest in bitcoin these day because:
1. They're not educated about bitcoin and what are the benefits of investing on it and how they handle their coin and what are the strategies to make it grow.
2. Many spreading or FUD news that bitcoin are turning to scam or other people using the name of bitcoin to fool people to earn a huge profit so bitcoin reputation is going to destroy because of these people and many powerful people killing it's reputation like spreading fud news in media because bitcoin has no tax on the government and many government workers will switch in bitcoin if bitcoin become so much popular in the community.
3. Other investors think that they're so late to invest in bitcoin because the value of it are so high unlike the past few months or year.
1. They're not educated about bitcoin and what are the benefits of investing on it and how they handle their coin and what are the strategies to make it grow.
2. Many spreading or FUD news that bitcoin are turning to scam or other people using the name of bitcoin to fool people to earn a huge profit so bitcoin reputation is going to destroy because of these people and many powerful people killing it's reputation like spreading fud news in media because bitcoin has no tax on the government and many government workers will switch in bitcoin if bitcoin become so much popular in the community.
3. Other investors think that they're so late to invest in bitcoin because the value of it are so high unlike the past few months or year.
I think that they are fearing that they will be hacked, because being hacked and your coins being stolen is not a great thing. You will lose your money and the hackers will keep on stealing.
Some people also fear that bitcoin would lose all of his value.
Some people also fear that bitcoin would lose all of his value.
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Something that's new makes people afraid of it. Not because of its characteristics but because people might get lost in that new technology or they are used to the traditional methods. Another reason might be due to the lack of knowledge about Bitcoin. Who would trust a technology that they do not understand, right? Or they might know Bitcoin as an "easy way to be rich" kind of thing and when they lose some money, they get off board quickly.
We have read many posts already and what most people says is that it is TOO VOLATILE, which is true . This said virtual currency has too much fluctuations on its price . But for me I don't just think of its risk but also thinks of what it can do to the future plus how can it help make life easier, and it will SOON.
Bitcoin is a decentralized currency, so it is not guaranteed by a central bank. Because of this people scares about bitcoin
people have fear about issues connected to bitcoin , like volatility , lack of regulation and adoption . Our government is not very supportive of bitcoin and other cryptocurrencies because it can not be control by them
People fear about bitcoin because of the volatility increment because of rate of selection is hampered by terrible press: News occasions that terrify Btc clients incorporate geopolitical occasions and articulations by governments that Bitcoin is probably going to be directed. Btc initial adopters producing headline news stories that produced fear in people. There is no issue with btc just make investment and get profit.
because it is new and government + media (tv, trusted facebook and twitter accounts , economics ) say bitcoin is so risky and you will lost your money
Some people fear in bitcoin because it has no physical money to hold and they do not believed in digital curency.
Some people fear in bitcoin because it is decentralized which government not regulates it or theres no one can control it.
Some people fear in bitcoin because they have lack of knowledge about decentralized currency that is why they say it is only a scam.
May reasons why they fear bitcoin but they are those people who are fear to invest.
Some people fear in bitcoin because it is decentralized which government not regulates it or theres no one can control it.
Some people fear in bitcoin because they have lack of knowledge about decentralized currency that is why they say it is only a scam.
May reasons why they fear bitcoin but they are those people who are fear to invest.
There is just too much negativity around people when it comes to the word "invest".
They already think it will need a lot of money or it will be 50-50 percent chance that you will profit or not.
In short, they think they could lose all their money or win at a higher amount.
If that could be changed then it will be easy to invite people to use bitcoin.
I agree apart from being afraid of investing popele still unsure about bitcoin, because bitcoin is a new type of investment that has not been not created by goverments or banks and it is not controlled by anyone which makes its market unpredictibale and unstable, a lot of investors and normal poeple still think of it as a big risk to put thier money into it, but all this fear will cause them to lose a great oppurtunity to make a good profit while it is still new and poeple wanting to support it, because bitcoin is not just a type of investment to make profit, it is an idea that revolutionizes the way we use money. They already think it will need a lot of money or it will be 50-50 percent chance that you will profit or not.
In short, they think they could lose all their money or win at a higher amount.
If that could be changed then it will be easy to invite people to use bitcoin.
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Bitcoin has lots of advantagea but as an investment it has also a downside. Its market value is volatile so investing into it has a risk. They fear that if they will invets to Bitcoin there's a risk for them to lose money when its markwt value fall or drop. That is the only risk that I know that will people fear about Bitcoin. But in the future when the dwmand become higher, this risk will be gone. There is just too much negativity around people when it comes to the word "invest".
They already think it will need a lot of money or it will be 50-50 percent chance that you will profit or not.
In short, they think they could lose all their money or win at a higher amount.
If that could be changed then it will be easy to invite people to use bitcoin.
They already think it will need a lot of money or it will be 50-50 percent chance that you will profit or not.
In short, they think they could lose all their money or win at a higher amount.
If that could be changed then it will be easy to invite people to use bitcoin.
You're right. That is exactly what people's mindsets commonly are when it comes to investments. And the reaction of everyone varies despite havong the same mindsets. Simply because some loves the thrill of gambling even when they say that investing in bitcoin is different from gambling, there's no denying that it is still a gamble. While some hate the thought of uncertainty. But all in all, these mindsets change slowly with knowledge.
I try hard to open my mind further, now bitcoin is full of controversy but the world is not able to hold it, there is a vision where bitcoin finally forced to be recognized by the world government and currently they are drafting laws that do not have macro gap, ROI in bitcoin is very fast and makes me sure to get more than I anticipated before. Many people are initially afraid to finally start thinking positively.
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