Bitcoin Forum

Once again pals am here with yet another interesting topic

Credits to u/born_in_cyperspace from reddit

So here this gentleman Douglas Adams share his analysis on reasons why some folks hate bitcoin

https://i.imgur.com/uL0avqY.png

What's your take because with the little experience I have got, his analysis are very correct

I think the biggest reason for hating bitcoin is the loss that he brought to people. And scam projects also did their job

I think that people that hate bitcoin and crypto simply have too little knowledge about crypto and blockchain otherwise there's really no reason to hate this....it can only bring advantages to every customers.

Yes obviously, big losses will really frustrate a person who ever it is as a maximum majority of investors didn't expected a massive dump within a single year. Just imagine about the people who bought BTC for nearly 20k and see the value now, it's pretty hard even to calculate. Yes like you said scam ICO projects bombarded the reputation of BTC that's the main reason people hate it.

people hate bitcoin because they don't understand how it works. only those people who decide to earn easy money and failed - do not like him

Probably you are right OP. My senior who are 50 years old does not trust internet banking to handle his funds. I guess the era and environment a person grow up in will make a part in what he believe in.

Due to the reason of bitcoin is based on complex technology, I believe most elder people are hesitating to adopt it. Recently I read an article, it was dealing about money should be simple and bitcoin is not. When bitcoin is not simple like any other fiats, then it is obvious like elder people will not be preferring it instantly. They definitely need their one time to understand and then to adopt.

Interestingly, this does not mean that bitcoin will be hated by those people who are not ready to adopt complex system. Moreover to get into bitcoin either for using as currency or using as an investment, definitely there will be no need of understanding the entire system. There are a few basics which are more than enough to get start with bitcoin. People will understand this and they stop their hating.

They hate it because it is new and they don't want to take interest on using a new thing. Because everybody just wants to use the old style.

I agree. Everything new and unknown faces uncertainty and even hate. It was so with the first cars, electricity, computers, the internet and now the blockchain. Nothing special in my opinion ;)

the only reason why many people hate bitcoin is because they have suffered losses because of bitcoin. those who have already made a profit may not be a problem, but for those who have just joined a few months it must be very painful.

basically everyone who is here already understands. but they are impatient, to get results. there is no investment that quickly generates profits. it takes time for a process to work. and because of this they started to hate bitcoin. added to the fall, further disappointed new investors.

Interesting point of view. There is certainly a grain of truth in it, even my colleagues and relatives more or less correspond to the age - opinion distribution you pointed out.

I didn't know 19-24 was that low, I would have assumed at least 25% for the youth of today. They obviously do not have too much money to invest into bitcoin hence why they are probably not interested because of that but having 35-44 years old more interested in bitcoin than 19-24 is a bit weird, younger people should have been more interested in bitcoin than older.

Considering bitcoin started 10 years ago, someone who is 19 today was 9 years old when bitcoin came up and that means it should have been a natural order of things for that person and should be interested in it.

Aside from that I think the reason why elderly do not use bitcoin is not that they think its against the natural order of things but more about its high tech for them, you may think 70 year old lady who uses whatsapp and send emojis to her other 70+ year old friends in USA but in many other countries 70+ people are not very fond of technology and still have hard time using even old mobile phones.

My grandma is 78 years old and barely can use home phone let alone mobile, it would be a miracle if she could buy bitcoins. That is why 55+ is not using bitcoin, not because they are against it but because its a new tech they need to learn and they don't feel like it worths learning about it. By all means we can all use it and they will be fine with it, its just that they don't want to get into all of that after a certain age. We think about our future when we get into crypto, they do not have too much "future" left in them.

There are so many arguments why people hate bitcoin but this guy pointed out the best reason, but for me and in my own observations in the community and in the masses, people hate it because of the inability to understand the real reasons why there was an existence of bitcoin and Blockchain technology, it is the lack of knowledge to absorb the new technologies happening day by day.

The psychological reasons sounds good,but not all the people is goig to hate bitcoin at some age group when they don't know what is it then chance of hating is possible for that we need to educate them about bitcoin and the useage behind it if we want whole people to use it.

Whether we like it or not, or even how many against the Bitcoin or cryptocurrency out there, No one can stop the evolving technology of digital currency as we are embracing the new generation. What can this old man without knowledge of modern computer and technology do to stop Bitcoin? Yes lets just say he’s just some mere celebrity or what the heck but its just a little diversion or confusion he gave to people but he cant stop the people investing on it.

Yes, you said exactly right, and I will just add my opinion, I guess why people are hating bitcoin so much is because they want to get the attention of people to be diverted to their project like the bitcoin Cash ABC and SV. They claim that they are the one who created bitcoin and people should prioritize their updates regarding it.

There are different reasons why people hates bitcoin ,some hates it because they end up losing money easily and that's because they have no knowledge how it works so they put the blame on bitcoin , some hates it because they compare it to ponzi schemes out there ,they think its easy was of getting money so its scam

I agree with you . Most people who hate Bitcoin meet these cases. They do not have confidence in the market and always sell all when there is good profit. I often advise people to invest only in the money they can lose but they only invest in everything they have to make them encounter many big mistakes in their lives.

Very interesting! Thank you OP for posting this.
This is a very good way of looking at how cryptocurrencies are being accepted in different age classes.

Many see bitcoin as no real money and can't be feel talk less of been touch and wondering how it could be consider as money or used as money and concluded that it is a bubble and as no real value but a scam, even some young ones also hate it while some old ages like it which also depend on personal reason, but those who invested in it now are much happy and velive it can liberate them from poverty while those who hate it think it will soon burst .

That's what my reaction is, I'm on the middle side and I knew it that Warren Buffett does have that reaction and even called bitcoin as rat poison because he don't understand it by himself.

He may understand bitcoin as an investment but his basis depends on the old style of investing. He's a billionaire and he know things with investment but he just can't go with the new wave of investing in today's generation such as bitcoin.

I think everyone's ideas are different. Some people hate BTC. This is their loss. Over time, more people will accept BTC.

I guess the reason why some hate bitcoin is that they feel that the whole technology is a scam itself some feel that it is built to enrich some people at the expense of others.

For me, the main cause of hatred is his complete dependence of the alts and the market on his movement. Due to this, many have lost much more than they could.

For the losses experienced, one can hate bitcoin and do not want to return to the crypto world. But there are various ages who can understand crypto and this is indeed good to be accepted, of course, many hope that bitcoin can grow well even though many hate it.

There is no reason for everyone to hate BTC, unless they lose money when investing in it. I also invest in BTC and also lose money, but I don't hate it. The financial market is like that, it must be accepted when losing investment money

Those people doesn't think well before they make investment and it is the reason why they lose. They hate bitcoin because they lose their money easily. Like those who invested their money while the price of the bitcoin is still in its peak, they keep saying bad to bitcoin because of their experiences.

the reason why hate bitcoin I think it comes from yourself and not from bitcoin. If we play the light of logic only. bitcoin is increasing rapidly to current price even more. certainly funny if many good things but instead will hate it. one of the reasons that surely is not usually in a track or running crypto to get results.

People who hate bitcoin will regret their stupid thoughts in the future. Of course, Bitcoin represents the entire cryptocurrency market, and there are many fraudulent projects in the cryptocurrency market. But this is not a worthless basis for Bitcoin. I think this is the most valuable reason for Bitcoin.

People hate bitcoin because they are lack of information about bitcoin and they are like to follow the negative news without searching for the truth. Besides that, they don't want to learn more about bitcoin, and its only makes them get lost in much money, and they blame the bitcoin itself. They think bitcoin is a new fast way to make money in short-term, but they don't know that in any investment or any of jobs, there is no shortcut to making money and there is always a risk that they should accept.

in my opinion, people who hate bitcoin are just people who don't understand bitcoin and don't want to know about bitcoin ...

I don’t want to believe so
I think bitcoin has no haters

Bitcoin just has a set of frustrated people who are in massive loss due to the recent dips
And believe me once bitcoin moons and they have their profits

They will be the best fans they once were

The reason many people hate bitcoin is because of fraud. More investors are aware of Bitcoin through the media, and the coins have depreciated when they enter the purchase of coins. This is a very dangerous way of investing. But after they lose, they will have negative emotions on the cryptocurrency.