Why people fear about BITCOIN

[Harishma]

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[mk4]

Despite all of its economical advantages, it still definitely has alot of downsides due to cryptocurrencies being in a very very early stage of development. There's going to be alot more "political" conflicts and there's going to definitely be alot more factions in the future due to possibly alot more disagreements on various issues and solutions.

[Pursuer]

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.

[Erlinda Santiago]

Hmm because some people fear in online investing because they always think they will be get scammed plus they didnt believe in bitcoin they didnt know much about bitcoin

[BILGPS]

People fear about bitcoin because they think that it is attached with internet so when the internet is turned off then there will be no use of bitcoin remains. For this reason the digital currency is not that much trusted but anyhow for high returns there is a risk involved so it is good to have bitcoin.

[jjacob]

People don't fear Bitcoin. The establishment fears it. banks fear it. Governments fear it.
They fear it because Bitcoin removes power from their hands and gives it back to the people.

[SUDARMONO]

I'm not afraid, but it's true that many people are afraid of bitcoin, but I think it's a layman who has not understood bitcoin not even know about the internet too, and many people think that bitcoin is like gambling, hyip, bitcoin as a fraud without them researching more about bitcoin.

[kinnu]

People feel it is not safe invest in online currencies. Bitcoin price is also very volatile, some people don't understand the blockchain technology. People fear about security and safety of using wallets.

[MancyZz]

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maybe because goverment not made legal yet and goverment made statement bitcoin is bad.. and people believe of goverment that bitcoin is bad and fear to use it
 altough bitcoin is good thing and useless if people not learn bitcoin, people will be fear and not know its so good thing

[djaliel]

because bitcoin transactions are like anonymous although they can be trace, but people are afraid of that,
and banking companies do not like it

all already know the transaction is very safe  

[Pleione527]

Even though the price of bitcoin goes higher and higher it is still unpredictable and there is a chance that the value can drop even lower this maybe the reason why people fear bitcoin like what other thinks it's like a bubble that may be gone in an instant. I guess if bitcoin become stable people will start to believe in bitcoin and forget about their doubt. The demand of bitcoin grows very fast as well as the number of people who believe in bitcoin also grows

[cipher-x_09]

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.

[n4poleon]

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.

[WhichIsGood]

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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. 

[BingoDog]

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.

[investerS]

Another thing is that many dont really understand how it works and many also fear internet based investment because of scammers and hackers.

[Ewox]

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.

[MattHoo]

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.

[HasHe]

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.

[Opquar]

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.