Cryptocurrency Phobia - new social phenomenon

[Thadeous]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

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[hatshepsut93]

A lot of people are thinking that they are doing a good deed by warning clueless people about potential "scam", others simply want to feel superior that they will predict "bubble" and won't lose their money because "they are not stupid". These psychological patterns can describe most of anti-cryptocurrency commenters, but there are also other causes like regret over not getting in early, distrust and hate towards everything that is not controlled by governments (especially popular among left-wingers), being involved in traditional finance and even religion.

[mast3rm1nd]

haters gonna hate bro. one thing I'm glad I learned is that people are for the most part full of shit, you shouldn't take them seriously. don't try to show them they are wrong; let them stay comfortably in their ignorance.

[Baimovic]

from the beginning I know bitcoin, I have not found a user harmed by bitcoin. I know that the losses experienced by bitcoin users are because they themselves can not keep the bitcoins, such as losing bitcoins due to careless securing bitcoin. and I think bitcoin benefits more than the element of deception. so I say that crypto phobia is actually us who created it.

[Xavofat]

I wouldn't call it a "phobia" because people typically aren't really afraid of BTC - they just find it irritating or confusing to discuss it.

It's understandable, because BTC requires some consistent focus to figure out.  Personally, I took ages to really "catch on" since every piece of information you pick up tends to tie onto some more information that you then have to know as well.

If people get a bit annoyed (and then irrational) when discussing BTC, that's perfectly normal.  I suspect that you and I are both irrational about something else which is in our lives that we're not too aware of either.

[exstasie]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally  about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

Among traders, this phenomenon is called "missing the boat syndrome." Those who sold early or missed the boat entirely have difficulty imagining (re)entering the market at this point. I've experienced this too. When you take profit and the market keeps running, it's psychologically very difficult to chase the price. This is why one should never sell all of their bitcoins.

One of the most prominent recent examples that I've noticed is this "Bitfinex'ed" character. He publicly sold all his bitcoins ~$1,000 early this year. After the BTC price began making new all-time-highs, he began concocting his narrative about Bitfinex/Tether "pumping" the entire market. Seven or eight months later, he considers BTC to be a "fraud" and he proudly says that he never bought back into BTC because he "won't participate in fraud." Now Bitfinex is suing the guy for his social media campaign against them.

Something I've learned about markets: When you hold an asset, you tend to be quiet about FUD. When you hold nothing, you're comfortable shouting FUD from the rooftops. Those people calling BTC and other cryptocurrencies scams aren't making any money right now. That much I know.

[minersday]

I bet all my funds that probably 7 of 10 of those people are the only ones who had the opportunity to buy bitcoin at a cheaper price, but they didn't because they were afraid of seeing it crashing.

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria,

Bitcoin has always been related to someting shady, there is nothing new with this, a few years ago everybody was saying that bitcoin has only been created in order to purchase drugs, scam people, or just rule ponzi schemes.

But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.

and it has been happening for more than months, even years, but now the real face of bitcoin is cleaning by itself.

[drachman]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

I do not think it is a phobia, there are two types of people, those that do not know anything about bitcoin but have hear the news about scams and things like that and have began to repeat what they hear, and there are those that know about bitcoin but it is in their best interest to spread fake information about bitcoin.

[darkangel11]

You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency

They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.

[orions.belt19]

I've been hearing remarks like those numerous times in the past - that's it's a scam, it's fraudulent, it's fake or it doesn't exist. Some have associated bitcoin to illegal activities such as the purchase of drugs and the like. When something is foreign or unfamiliar to them, they'd rather hate on it than choose to understand it. They are quick to judge without even trying to fully understand all about bitcoin. Others are just bitter because they weren't able to join the party early enough.

[Thadeous]

You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency

They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.

That's an interesting point.

So here we can highlight three categories of people with negative attitude, based on their Cryptocurrency experience:
- no experience, whose vision based mostly on rumors;
- bad experience, those who previously failed in Cryptocurrency investments;
- outdated experience, that comes from traditional economical and financial concepts.

[iamTom123]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending. In some cases people provide interesting groundings concerning Cryptocurrency risks and instability. But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements. I think this phenomenon spreads around fairly fast. What's your opinion about it?

My opinion is that you are looking at the glass as half empty instead of eyeing on it as half full. Yes, there are those who are quite negative about Bitcoin and even with cryptocurrency in general though many of them will admit that they admire the blockchain technology which is what is behind with Bitcoin. The media has been an instrument in the spread of this negativity though in fairness there are also good reports on Bitcoin. The sentiment of these people who are shying away from Bitcoin is that it just another bubble similar to the tulip mania in the 16th century, which ended so bad (of course the tulip survived). Some well-known financial experts are comparing the features of the many bubbles in the past with Bitcoin and they are seeing many similarities. Now, this is the pessimistic side. On the optimistic side, there are many famous personalities who are openly endorsing and very much involved with Bitcoin. Right now, there is the trend of Bitcoin legitimization or being accepted by people into traditional finance and banking. With the introduction of the Bitcoin Futures, people in the Wall Street can now be joining those in the Main Street as far as Bitcoin is concerned. With a ballooning interest coming from many clients, even banks are now slowly realizing that they have to find an acceptable way to get into Bitcoin and join the fun (or should I say profits?). With this kind of scenario, the said phobic hysteria is nothing but just one simple obstacle on the way to Bitcoin's success.

[jtipt]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

Everyone has their own opinions and if that opinion is fair and with fair reason then I don't have any problem listening to it. But the problem is most of the people give their opinion and advices based on half learned knowledge, most if the people done even know what blockchain is are people talk about BTC instability and risks.

[lucifochrome]

Most people who don't know what bitcoin is are scared to hop on board. This is simply because, Us humans have fear of the unknown, however some of these people wanted to join bitcoin and considering the price of bitcoin now they think this is easy money, but if they are to face any obstacle along the way without knowledge whatsoever of what bitcoin truly is they tend to fall on their asses and will find someone to blame, which will lead them to think that bitcoin is a scam and whatnot.

[iram1011]

You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency

They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.

That's an interesting point.

So here we can highlight three categories of people with negative attitude, based on their Cryptocurrency experience:
- no experience, whose vision based mostly on rumors;
- bad experience, those who previously failed in Cryptocurrency investments;
- outdated experience, that comes from traditional economical and financial concepts.

Calling them outdated would be wrong. Don't forget many experts predicted mortgage bubble in 2003 but it didn't burst till 2008. Bubble stay longer than expected.

This growth in bitcoin is not natural. How can a technology be a store of value? Market is running irrationally right now. Coins with actual utility are being dumped.There is no better proof of a market in peak irrationality when coins like emc2 got a Mcap of $500million while Ven,  power,  CVC are at half of it. No TA is working. Just a FUD or rumor can play with price. If bitcoin doesn't get stable soon or have a correction, it can be scary imho.

[Thadeous]

You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency

They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.

That's an interesting point.

So here we can highlight three categories of people with negative attitude, based on their Cryptocurrency experience:
- no experience, whose vision based mostly on rumors;
- bad experience, those who previously failed in Cryptocurrency investments;
- outdated experience, that comes from traditional economical and financial concepts.

Calling them outdated would be wrong. Don't forget many experts predicted mortgage bubble in 2003 but it didn't burst till 2008. Bubble stay longer than expected.

With "outdated" I intended to underline that traditional concepts are not enough to understand Cryptocurrency.

[iram1011]

You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency

They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.

That's an interesting point.

So here we can highlight three categories of people with negative attitude, based on their Cryptocurrency experience:
- no experience, whose vision based mostly on rumors;
- bad experience, those who previously failed in Cryptocurrency investments;
- outdated experience, that comes from traditional economical and financial concepts.

Calling them outdated would be wrong. Don't forget many experts predicted mortgage bubble in 2003 but it didn't burst till 2008. Bubble stay longer than expected.

With "outdated" I intended to underline that traditional concepts are not enough to understand Cryptocurrency.

And with that you are most probably targeting those economic experts who are constantly calling bitcoin a "bubble". Because those experts don't fit in the other two options and that is what I was talking about.

[jseverson]

I'm pretty sure majority of these stem from nothing but jealousy. I mean, I'm sure there are a handful of people out there who know what they're talking about, with a strong grasp on how investments and the economy works, and simply deem Bitcoin to be a bubble. That's fine, because at least their opinion is backed by expertise. On the same side of the fence, though, are people who have no idea how it works, or are too afraid to invest, or maybe even both. Because they're not planning on getting on the train, they have to ruin it for everyone else. After all, if their friends invest and hit it big, they're going to be left behind. They're basically sour graping. If they truly didn't care about Bitcoin then they're not going to talk about it, and if they truly have strong feelings against it, then they better be well versed in it. It's best not to mind these people.

[dillpicklechips]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.

It's not phobia in my opinion. It is more like scared to get in to an unknown world. Since Bitcoin and other cryptocurrency is very new to others and the price swings are volatile especially now that Bitcpin's price surged up (which we should handle with skepticism) is getting all in their mind that this is very different from what they have known in traditional monetary system and even in stocks. Just give them time and mke them understand.

[Kapyong]

They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing.

Spot on.

Everything that's risen sharply before, has later come crashing down.
BTC will crash, like everything else.
There's nothing new under the sun, right ?

Wrong.
BTC is revolutionary.
Any argument based on past patterns is useless when applied to something totally new.

The factors that tend to drive against BTC are ignorance, rumours, abuse.
The factors that tend to drive BTC up are understanding & confidence in its security.
Every drop is followed by a further rise - which is entirely expected of BTC's deflationary design coupled with rising public interest.

In short :
Bitcoin does NOT have to collapse with a pop !
BTC could realistically rise and rise.

Some people simply cannot accept that possibility can really happen.

Kapyong

[Thadeous]

Here is a resent example.
Cryptocurrency Lending is often called scam, without any grounding.
None tells which interest can be considered as legit Cryptocurrency Lending and which is too high and could be potential scam.

[nominee]

This is as expected if you ask me. I know many friends lost too much money in stock market during 1990s and they're afraid of new loss. They don't wanna live the same problem. They try to stay away from the coins.

[Kjara]

Such a phobia is certainly noticeable in post Soviet space.
Hope it won't lead to an ungrounded cryptocurrency prohibition there.

[Dudeperfect]

Haha, Let me share my story. I was talking with my friend about Bitcoin and he is studying journalism course. I asked him his opinion about Bitcoin and he said that he is excited about this technology and speculative value that it gains but still he wouldn't invest anything in it as his risk profile does not permit him to invest any penny in the wild market like crypto. He was convinced that it is not a scam, Ponzi or MLM scheme but due to the wild behaviour, he is not going to invest in it but following up with the news in this sphere.

[Thadeous]

This is a good example of cautiousness.
While other people just scared of these "strange digits sold for the price of gold".

[shamzblueworld]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

I think the latest rise in bitcoin value has actually made many to start considering investments in crypto.
I personally know people who used to tell others to avoid cryptos and now have invested big time in various coins. And its all due to the rise of bitcoin value in the past couple of months.
So now, this phobia is kinda getting town as people actually forced to consider cryptos because of the huge possibility of profits.

[esgdrhlg]

This is as expected if you ask me. I know many friends lost too much money in stock market during 1990s and they're afraid of new loss. They don't wanna live the same problem. They try to stay away from the coins.

Once bitten, twice shy. But I think people should be interested in something new, because blockchain is the newest thing and you can even get extra wealth. I think people should be interested in bitcoin and altcoin and ICO.

[Clos Belmont ICO]

You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency

They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.

That's an interesting point.

So here we can highlight three categories of people with negative attitude, based on their Cryptocurrency experience:
- no experience, whose vision based mostly on rumors;
- bad experience, those who previously failed in Cryptocurrency investments;
- outdated experience, that comes from traditional economical and financial concepts.

People always afraid of they don't understand or don't know

[tutorroma]

This kind of speech has been there for years. I think some people who have not invested in bitcoin or people who don't know what bitcoin is at all, they like to spread this kind of speech most, because they have no chips in their hands, and talking about FUD may be good for them.

[Thadeous]

Last days noticed another waves of grumbling about BTC price jumping up and down...
While it's so easy to be patient and simply wait until BTC hits 50k

[athanz88]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

yeah I feel it too what you called crypto-phobia, from people around me. It spreads around really fast indeed, as bitcoin gains more popularity, the phobia grows faster too.
The thing is, there are lot of reasons that can make this phobia grows inside a person, such as :
1. Bitcoin is a new technology. People always skeptical to a new technology,even after they learn about it.
2. Bitcoin doesnt has a physical form. People will feel more secure about their investment if they have the physical form of their investment, of physical form of statement that they had the investment.
3. The price is going up and down too fast, volatile.
4. Bad past experience about making money online. I do have this kind of experience and it made me hesitate to buy bitcoin at lower price, and now im regretting it.

[drachman]

A lot of people are thinking that they are doing a good deed by warning clueless people about potential "scam", others simply want to feel superior that they will predict "bubble" and won't lose their money because "they are not stupid". These psychological patterns can describe most of anti-cryptocurrency commenters, but there are also other causes like regret over not getting in early, distrust and hate towards everything that is not controlled by governments (especially popular among left-wingers), being involved in traditional finance and even religion.

The problem with those people that think are doing a good deed is that they are in fact doing something bad think of all the people that could have gotten into bitcoin earlier and decided against it because they listen to someone else they could be rich by now if they followed their instincts.

[TeLlMeFrY]

I don´t think that there is a crypto phobia that is increasing everyday. Although there are many scams and obviously there are some people who is afraid to invest in crypto, actually there is more and more people investing in crypto everyday because they have seen and heard of the great advantages in the media.

[bitart]

All these problems (or the root of the problem) can be handled with education. If people know bitcoin they won't afraid of it. If they know that it's not a ponzi and not an MLM they will start to belive. How can people get educated today? Not from books and not in the school. The only possible channel is the media, the internet-connected social media sites and the online news sites. They are (the media) also uneducated about bitcoin, so we can't expect that they can start to educate people the decent way. This is why the media only use bitcoin related content to make people afraid of the crypto world. As long as governments and the media is against bitcoin, it will be hard to reach the people to share the necessary knowledge.

[khaled0111]

It is always hard for people to accept new things. Cryptocurrency is a new phenomenon and somehow hard to understand how things work in the background.
"Taking a new step, uttering a new word, is what people fear most."
It is true, cryptocurrency market is too risky but higher risks means higher rewards.
People changed their perspective and started to accept crytocurrency and the bitcoin community is growing everyday.

[Nellayar]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

In my country, a lots of people has rumors about bitcoin. Some said that it is a scam like what I saw in the news. All of people are not aware in terms of technology and my province can prove that bitcoin is not already used by the people. I am also hearsay words that bitcoin is a bubble thing, I don't know why they are afraid to engage in newly system of economy. Even me, I do not yet talking about bitcoin to my relatives and friends, I know that in the end they will say that this is just a scam, specially now that I do not own yet bitcoin. I think I will tell them if I have bitcoin to cash out.
In my own opinion, people who scared to use bitcoin are also do not know to use technology. I believe that education is part of awareness of the people.

[distributedconsensus]

Bitcoin only flaw would be someone discovering some pattern in the way Public key and Private Key are related and that is protected by Trillions of years of computing so the value of Bitcoin is as strong as the Universe itself. Never the human kind had something to store and trade value that can not be counterfeited, produced in excess, altered in anyway and so on.

The more people who will eventually understand that and there you have the intrinsic value of Bitcoin and other Cryptos but it is normal for people to be scare, specially when they know nothing about math...

[Reid]

Depends on how the listener will take it.
Knowledge is still better before stepping into the fire.
If you already knew there are many things like scams behind one crypto then you are already informed and its a good thing.

You will just need to be careful with every step you will take.
That is the good thing about being informed first before listening to others.
You will not throw any money when you are at that stage.

[JureViewly]

You have to see this phenomenon from a point of view like you are totally ignorant. Imagine yourself being used to handling with things that you can only feel and see. Also all your agreements and contracts with the banks are somewhat protected by your government or a bigger entity. People throughout the world are technically uneducated and afraid to live in the modern world. For example, many people avoid socializing through social media, paying with digital currency, owning/using crypto etc. Damn I even know of people that only bought a PC to communicate through Skype and nothing else. I hope that the youth will accept the new world since they are supposed to build it and develop it in the future.

[Shreek]

I never listen to what they say about bitcoin. scam, fake, crime. or whatever they say about the bad bitcoin.
in this world nothing is perfect, all have flaws. and I see that bitcoin is more an advantage than a drawback.

[Shrinath]

The underlying concept of how effective and profitable BTC is or would be, comes to you ONLY when you take the efforts to venture, study, gain knowledge and be properly educated on the subject. The media or anti-crypto-currency commentators that labels BTC as “scam”, “fraudulent”, “fake”, “it doesn't exist” have either miserable failed for their own fault, or enjoy by warning clueless people about it being a potential "scam" or "bubble".

That traditional concepts that the old crowd have filled their brains with are not enough to understand the concepts of Crypto-currency. To them everything has to fall into a well established category. There can't be a new thing. They fail to accept a concept that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 30 or 40 years and someone shows you that it can be done differently you take a defensive stance. When something is foreign or unfamiliar to them, they'd rather hate on it than choose to understand it. They are quick to judge without even trying to fully understand all about bitcoin. See, when you hold an asset, you either tend to be quiet about the associated FUD. When you hold nothing, you feel comfortable shouting FUD from the rooftops.

Let us take the initiative to continually be informed, be educated, and start to believe in its real concepts. Let us also inform and educate the new and needy and help them by being a part of the crypto-currency world. We need to let the internet-connected social media sites and the online news sites stay comfortably in their ignorance.

[Hamstead]

I never listen to what they say about bitcoin. scam, fake, crime. or whatever they say about the bad bitcoin.
in this world nothing is perfect, all have flaws. and I see that bitcoin is more an advantage than a drawback.

That's right mate. Those people have nothing to do in their life, only they just want to destroy others for the benefits of their own. To make this community become stronger and bigger, we should make declined those negative old folks towards bitcoin and the entire crypto world. We should think that bitcoin is really a big race, the one who survive is the one that may rewarded.

[josephinerosdy]

they afraid because bitcoin price is not stable and afraid lose their money because bitcoin price is expensive.
they have never tried, they are afraid to try it.

[shintosai]

I never listen to what they say about bitcoin. scam, fake, crime. or whatever they say about the bad bitcoin.
in this world nothing is perfect, all have flaws. and I see that bitcoin is more an advantage than a drawback.

That's right mate. Those people have nothing to do in their life, only they just want to destroy others for the benefits of their own. To make this community become stronger and bigger, we should make declined those negative old folks towards bitcoin and the entire crypto world. We should think that bitcoin is really a big race, the one who survive is the one that may rewarded.

We can't deny the fact that only big nerved really gaining a lot from this industry so better to keep our positive insight and let those negative thinkers being dated by their wrong impressions with Cryptos.

[The Scorpion]

Why would it be a phenomenon? came on, there isn't any "crypto phobia" the only ones who are afraid of it are the only ones who are missing this opportunity, nothing more than that.

[Thadeous]

A lot of people are thinking that they are doing a good deed by warning clueless people about potential "scam", others simply want to feel superior that they will predict "bubble" and won't lose their money because "they are not stupid". These psychological patterns can describe most of anti-cryptocurrency commenters, but there are also other causes like regret over not getting in early, distrust and hate towards everything that is not controlled by governments (especially popular among left-wingers), being involved in traditional finance and even religion.

The problem with those people that think are doing a good deed is that they are in fact doing something bad think of all the people that could have gotten into bitcoin earlier and decided against it because they listen to someone else they could be rich by now if they followed their instincts.

Instincts - is the very right word to describe the topic context.
It reminds me two tribes from tropic isles. One of them has just discovered trade via pearly seashells and find it very handy. While the second tribe still exchanges bananas, coconuts and shrimps, contemptuously watching what the first one does, shouting aggressively toward their coast and smashing all pearly seashells they are able to find. But in the night time some from the second tribe creep along the sea shore diligently collecting those prohibited seashells.

[markleal]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

Hi there Thadeous! First of all, you got a nice tread title in there, can’t imagine there could be a phobia about cryptocurrency. Anyway, I think there is no specific name for that kind of phobia but as you said due to the rapid changes bought by the cryptocurrency there are people that are hardly to catchup. There are people that are doing illegal acts and taking advantage of this technology, but on the other hand this technology teaches us to be more self-aware, be fast, be vigilant and face the possible ups and down that makes us more prepare in this technological era. 

[Haunebu]

Why would it be a phenomenon? came on, there isn't any "crypto phobia" the only ones who are afraid of it are the only ones who are missing this opportunity, nothing more than that.

I disagree with you here. Cryto phobia does exist. I have observed many people sitting on the sidelines and viewing the crypto world who did not step into this vast volatile world since they were scared of the high risk involved just like the stock and forex markets. The crypto world is known to be far more riskier when compared to the stock markets due to the extreme swings which is another reason why people experience crypto phobia. The rise in bitcoin value is helping curtail this problem and more and more people who were scared before have begun trading in the crypto world.

[Kez1817]

      I think there is no cryptocurrency phobia as what you have said because even there is a lot of online scam, people are still there trying to overtake the scam and hoping to have a good life in crypto. Maybe there are few people who have fear to enter in crypto world but not a phobia.

[Thadeous]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

Hi there Thadeous! First of all, you got a nice tread title in there, can’t imagine there could be a phobia about cryptocurrency. Anyway, I think there is no specific name for that kind of phobia but as you said due to the rapid changes bought by the cryptocurrency there are people that are hardly to catchup. There are people that are doing illegal acts and taking advantage of this technology, but on the other hand this technology teaches us to be more self-aware, be fast, be vigilant and face the possible ups and down that makes us more prepare in this technological era.  

Thank you Markleal. That's a great point about self-awareness, which is the key to control individual instincts, including various fears that may lead to phobias, in the worst case scenario. And even basic self-awareness requires certain level of self-reflection.

[btcprospecter]

I think many of this opinion are just more so annoyed that they missed out. If they are going to warn people of the perceived pitfalls of bitcoin then they are probably not likely to be involved in any sort of terms.

[drachman]

I never listen to what they say about bitcoin. scam, fake, crime. or whatever they say about the bad bitcoin.
in this world nothing is perfect, all have flaws. and I see that bitcoin is more an advantage than a drawback.

People have fear of what they do not know, every time something new comes along we we get the same response, at first people are afraid of the consequences of this new invention and then they accept it as if it has always been here, the same happened with cars and computers.

[Pan Troglodytes]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

In my country in mainstream media, every day I am hearing some news or discussions on bitcoin (not cryptocurrencies, because they associate cryptocurrencies with bitcoin and that is that) and it is universally negative. There is even a central bank sponsored website discussing how the bitcoin is not a state-regulated or a state-distributed asset and as a result it is very untrustworthy. I always smile at it, because those are exactly the reasons that bitcoin IS appealing to me

[andylioe78]

You have not found users harmed by bitcoin losses suffered by bitcoin users because they themselves can not keep bitcoin like losing bitcoin so crypto phobia is actually the one who created it.

[greeklogos]

There is no any phobia, there is just not enough education about crypto currencies. But it, probably, has place to be hysteria about buying or investing into crypto without any special understanding of it, but just with one target - to make a lot of money fast.

[setifien19]

Most of them have an ulterior motive concerning digital format of money especially with  newer crypto aspect .
They may as well influence others to keep'em away from cryptocurrencies by supposing the possibility of happening of catastrophic scenarios.

[fishbonez11]

But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

I think the the main fear falls related to the fear of the unknown, fear of risks, or fear of trying new things. Anyway opposition and skepticism are normal and everpresent in any innovations that has been brought in the world. For me, the fear of bitcoin is like how people also feared investing in the stockmarket before.

[cybersofts]

You guys should read some comments by well known economists and financial advisors and many of them will have 3 things in common. I should say almost all of them have this things in common and those things are:
-they are or have worked for a big bank
-they are usually in their 60s or older
-they are comparing BTC either to stocks or a fiat currency

They don't understand that it's something different. To them everything has to fall into a well established category. There can't be a new thing. A thing that creates a category of its own. This is the fallacy of old men. If you have been doing the same thing for 40 or 50 years and someone shows you that it can be done differently you take a defensive stance, even though you could agree with that new way somehow inside you think they'll laugh at you. Say you were wrong to support the established order without questioning it or trying to improve it.

That's an interesting point.

So here we can highlight three categories of people with negative attitude, based on their Cryptocurrency experience:
- no experience, whose vision based mostly on rumors;
- bad experience, those who previously failed in Cryptocurrency investments;
- outdated experience, that comes from traditional economical and financial concepts.

Calling them outdated would be wrong. Don't forget many experts predicted mortgage bubble in 2003 but it didn't burst till 2008. Bubble stay longer than expected.

This growth in bitcoin is not natural. How can a technology be a store of value? Market is running irrationally right now. Coins with actual utility are being dumped.There is no better proof of a market in peak irrationality when coins like emc2 got a Mcap of $500million while Ven,  power,  CVC are at half of it. No TA is working. Just a FUD or rumor can play with price. If bitcoin doesn't get stable soon or have a correction, it can be scary imho.

They are just bunch of losers that is all. I don't really like to waste my time and energy on negative things or negative people. Negative people are the ones creating and spreading rumors. all i see in cryptocurrency is it has so much potential and big role to play in the future. So, why should bother myself with what other people are saying? I just don't have the time of that, period! Let then say whatever they wanna say nobody is listening. 

[Agetan]

In this case, we can not deny the possibility of bad news appear im community.
Bitcoin and other cryptocurrency have their disadvantages too that can make people scare about word " scam ".

[Thadeous]

In fact, what I find an absurd is that:
- people ready to pay for a new car, because they were told that 3 years is the right age to replace it;
- it's common to upgrade smartphone 3-4 times a year, while 80% of smartphone owners use less than 20% of their hardware capabilities;
- it's considered to be normal to spend half of monthly income on ready food, instead of doing daily kitchen exercises;
but it's so "scary" and "dangerous" to invest few hundred bucks into the Crypto market, which capitalization is already bigger than Google's and in few next weeks will overtake Apple's, the world's largest one.

[danggoron]

Very reasonable if there is a positive and negative view. Moreover, bitcoin is a new breakthrough in economic activity, especially on payments and currency. Positive and negative news very quickly spread because now is the digital era, where many people use social media to show its existence. So, as we have to be more selective and wise in responding to any news and opinions of others about bitcoin, whether positive or negative, do not be provoked.

[dewi91]

everyone has their own opinions and everything in the world always have pro and contra like crypto currency. we are do not need to worry about haters of crypto currency because enthusiasts of bitcoin are more than haters.. in the future hater gonna be lovers..

[Thadeous]

in the future hater gonna be lovers..

and they will continue hate Crypto in public, while holding tons of coins and tokens in their wallets  

[mr.bean865]

in the future hater gonna be lovers..

and they will continue hate Crypto in public, while holding tons of coins and tokens in their wallets  

Yes cryptocurrency is all over the mouth of world and everyone is talking and taking interest in it because all are impressed by them who took cryptocurrency seriously in their past.

[cungtrongdung1]

haters gonna hate bro. one thing I'm glad I learned is that people are for the most part full of shit, you shouldn't take them seriously. don't try to show them they are wrong; let them stay comfortably in their ignorance.

At first glance, it's like fearing of missing out, expressing a sense of fear of losing something, making our dogs feel bored of everything, and always putting people above and beyond themselves. Never enough!

[BORDS]

for me it is a natural reaction of anyone for encountering such technology nowadays.
even i have the same reaction before, i did not accept cryptocurrency instantly.
but instead i did some of my own research first in order to protect myself from all risk.

[Kjara]

People are often afraid of novations that are hard to understand and what is worse - hard to control.

[rb26]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

Mostly, those people who ended up with negative impressions about cryptocurrency are those who want to try it for the first time but ended up investing on the wrong ones. They were immediately discouraged to try it that they missed the chance to invest on the real deal. It's like when you tried holding something not knowing it's hot so you immediately dropped it when you burn your hands.

[Thadeous]

Quick investments lead to quick discourages.
On my opinion most of fails in investments and trading happen because of known self-regulatory state called FoMO.
It constantly competes with balanced thoughtfulness, blocking deep analysis, allowing mostly quick superficial conclusions.

[drakegon]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

It's actually the way we are going to change the world. Slowly, step by step, crypto currencies will be a more important and used part of our lives. The potential slowly grows.

[0k0l0g]

it's quite disruptive, which tends to trigger fear response

[retnoanjani]

Yes, it is just a mass hysteria. It's natural, let alone bitcoin can get out of various negative issues against it and show the world with a fantastic ride up. So the news about the bitcoin more diverse. Some responded well and began to study it. However, for those who do not like it, would consider it bubble, scam, etc. People who still lay, will be easily influenced by negative news. So, before the judge crypto-currency, learn and try first. I think, all investments have risk factors, prices rise and fall is also a reasonable thing, which is important we must have anticipation for it.

[xuan87]

It's their opinion so nothing wrong with that, and the people that not involve and understand about Bitcoin will have negative conclusion because the media like to report Bitcoin negative side, so for the one that rejected bitcoin, it's their lost

[Transformbitz]

We have different perspective positive minds always have positive attitude and outlook of life, if they are negative on cryptocurrency then stay away with them. People wants to believe first before exerting effort and i don't want to give them a demn f*ck

[Thadeous]

This example can be considered a bit off topic.
Yesterday we all were able to see Bitconnect lending platform crash.
From one side it was really unexpected and offensive, but from other side it caused such an uncontrolled fall of BCC coin price.
Most of lenders immediately dropped all their coins to exchanges instead of holding them and waiting for the following news.
I don't see other explanation for this behavior except as "herd instinct", based on fear spread in social communities.

[focmere]

This example can be considered a bit off topic.
Yesterday we all were able to see Bitconnect lending platform crash.
From one side it was really unexpected and offensive, but from other side it caused such an uncontrolled fall of BCC coin price.
Most of lenders simply drop all their coins to exchanges instead of holding them and waiting for the following news.
I don't see other explanation for this behavior except as "herd instinct", based on fear spread in social communities.

This is a very good lesson for every crypto trader out there. Nothing is GRANTED! And always invest only what you can lose!

[Transformbitz]

In this real world, what we see is what we get. but us crypto traders/ holders or even cryptoverse are getting in the action game before showing results. this is a good reason why i'm here because we absorb knowledge and this is the smartest thing that we've encounter.

[Fileiro]

That would be crypto climbing 'the Wall of Worry'.

[ladydark]

I would say that most of those who only see the negativity of bitcoin and spread the same are just half boiled eggs.On the other hand,i would say that its mostly a propaganda spread all around the world being sponsored by bankers and financial companies as they could not directly face and stop bitcoin's growth.We could see media continuously criticizing bitcoin to create an image that its just an other scam in the minds of people.

[panganib999]

haters gonna hate bro. one thing I'm glad I learned is that people are for the most part full of shit, you shouldn't take them seriously. don't try to show them they are wrong; let them stay comfortably in their ignorance.

If someone doesn't have enough knowledge about a particular thing , it is true that there is a higher chance for them to don't trust a particular thing specially when they have lack of knowledge about the system, transaction and the whole market of Bitcoin. For me it is good thing to read and educate ourselves first before getting into a thing we do not actually know we'll.

[ellabanana]

I've seen a news on the TV regarding a warning with cryptocurrency especially bitcoin that it is used illegally and with this, those people who have seen it was already afraid to engage in btc. But to have it as a phobia, I think the probability is so low since for those who don't know anything they just won't care at all. But, for those who joined cryptocurrency with a little knowledge and engage immediately in trading and stuff and they lose all their money, well that would be traumatic which may lead to extreme fear in cryptocurrency.

[Pan Troglodytes]

It is not a phobia, it is something artificially engineered and it is related to two phenomena: regular people having no knowledge on those topics while at the same time media boasts FUD. The media action seems to be well organized and executed by somebody interested in people believing in FUD. In my country, for one thing, there is even a central bank maintained webpage devoted to bitcoin threats.

[Thadeous]

Few more weeks like previous ones, with "optimistic news" from China and Korea, and new Cryptonews phobia will appear along with the topic one.

[saycryptohello]

I do not understand, what kind of phobia can there be? Then everyone decides whether to use cryptocurrency in his life or not. Do not just look at the news, which in the last days go with a negative, you need to have a weighted opinion.

[mrcash02]

It is not a phobia, it is something artificially engineered and it is related to two phenomena: regular people having no knowledge on those topics while at the same time media boasts FUD. The media action seems to be well organized and executed by somebody interested in people believing in FUD. In my country, for one thing, there is even a central bank maintained webpage devoted to bitcoin threats.

I agree. But the main problem isn't the media spreading FUD and being dishonest, it wouldn't be an issue if people were able to think by themselves without believing in so many lies and exaggerations without hesitation. It proofs media has too much power over people's minds yet, however, it's slowly changing as people start giving more attention to alternative medias on the internet and searching for the true of facts.

Real stories of people who are in Crypto-Currency world is the best way to make others exit from the matrix.

[Tonydman97]

Most of us have our own fears and phobias and even crypto investors are not deprived of these fears. In the first place, there is the fear inherent in all crypto investors of absolutely all coins, and it's a fear that an evil and terrible hacker will steal money from your computer. In the morning you wake up, your purse on the computer is empty, and the outgoing transaction tells you that from now you are as poor as a church mouse.

Next is common for all crypto investors, and it is the fear of the crypto currency collapse. Not a scam of a particular coin or exchange store, but the same "burst bubble of crypto currency", about which constantly broadcast from the TV or say our friends who do not invest in the crypto currencies. And although we know that the crypto currency is not a bubble, but somewhere in the depth of the brain, we are afraid of this.

[Nerman]

Sadly people will usually misunderstood what the news will tell them. I think to blame here is the mainstream media which usually tag on their headline as Bitcoin/Crypto as a scam but if you will read the article there will be no correlation of Bitcoin being a scam. People who are lazy to read the article will think right away that bitcoin is a scam, telling their friends, relatives and neighbors just in case they talk about topics about  cryptocurrency.

Also famous investors and economist are not yet convinced in cryptocurrency. Which may influence many people not to invest as well.

People fear what they do not know and many people how Cryptocurrency works. I believe that educating more and more people will eliminate this fear/phobia in our market.

[bobq]

I have noticed this phenomenon myself and I have been discussing about it recently with a friend. I think that this phobia for cryptocurrencies is caused by a set of prejudices which have been skillfully planted in time in the public opinion my the mainstream press. The funny thing is that it is especially intelligent people who get caught in this cognitive trap. I don't want to say that it is everything gold which glitters in cryptos - not at all - but this phobia reveals a willful blidness of a part of population towards this whole sector.

[vv181]

It is not a phobia, it is something artificially engineered and it is related to two phenomena: regular people having no knowledge on those topics while at the same time media boasts FUD. The media action seems to be well organized and executed by somebody interested in people believing in FUD. In my country, for one thing, there is even a central bank maintained webpage devoted to bitcoin threats.

I agree. But the main problem isn't the media spreading FUD and being dishonest, it wouldn't be an issue if people were able to think by themselves without believing in so many lies and exaggerations without hesitation. It proofs media has too much power over people's minds yet, however, it's slowly changing as people start giving more attention to alternative medias on the internet and searching for the true of facts.

Real stories of people who are in Crypto-Currency world is the best way to make others exit from the matrix.

Agree, the media is too much biased nowadays. I feel bad for the 'regular' user they just think that is the truth without researching further about it. And also I believe some panic seller who easily affected by FUD is due to lack of well-understanding the subject.

[bitcoinzen]

Cryptocurrency Phobia this is the new trend people are addicted to fast money they arent getting educating themselves they should understand bitcoin took 9 years to gain momentum

[nicko122]

Recently, the world of cryptocurrencies has greatly progressed, now many people know about them, much more investments and money. When prices fluctuate, panic begins and it spreads very quickly. Now cryptocurrency is one of the most popular topics in the world.

[Thadeous]

I have noticed this phenomenon myself and I have been discussing about it recently with a friend. I think that this phobia for cryptocurrencies is caused by a set of prejudices which have been skillfully planted in time in the public opinion my the mainstream press. The funny thing is that it is especially intelligent people who get caught in this cognitive trap. I don't want to say that it is everything gold which glitters in cryptos - not at all - but this phobia reveals a willful blidness of a part of population towards this whole sector.

Right. What I hear about Crypto from well educated people around me reveals that their conclusions are simply based on personal prejudices and nonsensical patterns from mass media.

[hodlbitcoin2020]

Those who enter into bitcoin community are entering with no knowledge they are seeing fast money which is nt good for community

[darkangel11]

from the beginning I know bitcoin, I have not found a user harmed by bitcoin. I know that the losses experienced by bitcoin users are because they themselves can not keep the bitcoins, such as losing bitcoins due to careless securing bitcoin. and I think bitcoin benefits more than the element of deception. so I say that crypto phobia is actually us who created it.

Exactly!
BTC doesn't harm anyone. It's a technology made to help people, allow them to take matters in their own hands. If you bought at any given point in the history of BTC, held it for about 1,5 years or more, you had much more value in your hands. And I'm not talking twice that. Usually it was like 5-10 times more! It just keeps on giving without any demands or hidden costs.
People are afraid because that's their nature. We are weak, greedy, envious, and quick to judge.

[gundala]

from the beginning I know bitcoin, I have not found a user harmed by bitcoin. I know that the losses experienced by bitcoin users are because they themselves can not keep the bitcoins, such as losing bitcoins due to careless securing bitcoin. and I think bitcoin benefits more than the element of deception. so I say that crypto phobia is actually us who created it.

Exactly!
BTC doesn't harm anyone. It's a technology made to help people, allow them to take matters in their own hands. If you bought at any given point in the history of BTC, held it for about 1,5 years or more, you had much more value in your hands. And I'm not talking twice that. Usually it was like 5-10 times more! It just keeps on giving without any demands or hidden costs.
People are afraid because that's their nature. We are weak, greedy, envious, and quick to judge.

Yes, most people often generalize, without understanding and learning the real facts. It can affect others. If they understand the nature of bitcoin is easy to change, they should be understood, and not afraid. Because once the price falls then the price will bounce.

[Thadeous]

This old topic seems to become actual nowadays when market is so red and bearish.
I hear more and more uncertainty from crypto news and despair from crypto holders in various Telegram channels.
All I would advice to all crypto enthusiasts is to check what happened with coins previous years and keep in mind that history continuously repeats.

[gadgetnerd]

But this is not that relevant to be honest, i think that all the people that wants to buy bitcoin are going to keep doing the same for a long time, and all the others, will just stay on the other street

[minime0105]

I have noticed this phenomenon myself and I have been discussing about it recently with a friend. I think that this phobia for cryptocurrencies is caused by a set of prejudices which have been skillfully planted in time in the public opinion my the mainstream press. The funny thing is that it is especially intelligent people who get caught in this cognitive trap. I don't want to say that it is everything gold which glitters in cryptos - not at all - but this phobia reveals a willful blidness of a part of population towards this whole sector.

Right. What I hear about Crypto from well educated people around me reveals that their conclusions are simply based on personal prejudices and nonsensical patterns from mass media.

Yes, but their conclusion is shaped by their only source of knowledge which often is incorrect and this phobia phenomenon in my opinion will only deter more people from entering the market unless, of course, they start researching into it more rather than capturing it all from media.

[airdnasxela]

Well I think what you have mentioned in your statement particular the cryptocurrency phobia is true. Why? It is because I also see it on our country. Many people here in my country which is Philippines, are scared in getting into technological business or ideas. Why?  It is because they watch news in the mainstream media where the media associated cryptocurrencies in the fraudsters. It lessen the legitimacy of bitcoin that is why they are scared or afraid of it. Well, we cannot blame them because when me myself do not know bitcoin and see those news,maybe I will not also go into bitcoin. Thanks to my classmate, because of them I'm into bitcoin.

[Pan Troglodytes]

It is not a phobia, it is something artificially engineered and it is related to two phenomena: regular people having no knowledge on those topics while at the same time media boasts FUD. The media action seems to be well organized and executed by somebody interested in people believing in FUD. In my country, for one thing, there is even a central bank maintained webpage devoted to bitcoin threats.

I agree. But the main problem isn't the media spreading FUD and being dishonest, it wouldn't be an issue if people were able to think by themselves without believing in so many lies and exaggerations without hesitation. It proofs media has too much power over people's minds yet, however, it's slowly changing as people start giving more attention to alternative medias on the internet and searching for the true of facts.

Real stories of people who are in Crypto-Currency world is the best way to make others exit from the matrix.

Agree, the media is too much biased nowadays. I feel bad for the 'regular' user they just think that is the truth without researching further about it. And also I believe some panic seller who easily affected by FUD is due to lack of well-understanding the subject.

'Regular users', they don't have any alternative, i.e. other sources of information easily accessible. After you have become knowledgable you know where to find particular in-depth information (you know of this forum, as an example) but before that you depend completely on the mass media and their FUD.

[btcprospecter]

People will always have problems with bitcoin and crypto currency, people with lots of money want to protect what they have and people without are afraid of losing what they have. When false news on bitcoin hits it affects both groups.
If you can spend bitcoin and crypto currency like any other currency the same as fiat what's the difference? It isn't like when you travel to other countries you don't trust their currency.

[Thadeous]

It is not a phobia, it is something artificially engineered and it is related to two phenomena: regular people having no knowledge on those topics while at the same time media boasts FUD. The media action seems to be well organized and executed by somebody interested in people believing in FUD. In my country, for one thing, there is even a central bank maintained webpage devoted to bitcoin threats.

I agree. But the main problem isn't the media spreading FUD and being dishonest, it wouldn't be an issue if people were able to think by themselves without believing in so many lies and exaggerations without hesitation. It proofs media has too much power over people's minds yet, however, it's slowly changing as people start giving more attention to alternative medias on the internet and searching for the true of facts.

Real stories of people who are in Crypto-Currency world is the best way to make others exit from the matrix.

Agree, the media is too much biased nowadays. I feel bad for the 'regular' user they just think that is the truth without researching further about it. And also I believe some panic seller who easily affected by FUD is due to lack of well-understanding the subject.

'Regular users', they don't have any alternative, i.e. other sources of information easily accessible. After you have become knowledgable you know where to find particular in-depth information (you know of this forum, as an example) but before that you depend completely on the mass media and their FUD.

Information has never been that accessible as today. Mass media provides us with Fast Information which is similar to fast food: smells tasty, requires no cooking knowledge, but you never know what's hidden inside.
And crypto is all about information which rapidly changes daily. So people should choose between personal research and talking heads that have no idea about the crypto.

[zubrr51]

I agree that crypto currency is really a social phenomenon that can change the perception of the world and make it more interesting.

[Bugsy22]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

Ignorance is not always bliss; sometimes it looks more like curse...

[looking31]

As more people adopt new ways of transferring value, markets of all ... cryptocurrency phenomenon but simply do not know where to start. ... cryptocurrencies, and information began to spread on social media and the press.

[RusellTim]

It is a fear that a malicious and terrible hacker will steal money from your computer. The next is common for all coders, and it is the fear of electronic money collapse. And although we know that electronic money is not a bubble, but somewhere in the depths of the brain, we are afraid of this. I think to blame here is the mainstream media that Usually tagged on their title like Bitcoin / Crypto as a scam but if you would read the article there would be no correlation of Bitcoin being a scam. Well-known investors and economists have not been persuaded in electronic money. People are afraid of what they do not know and how many people operate Cryptocurrency. I have noticed this phenomenon myself and I discussed it recently with a friend. The funny thing is that it's especially smart people trapped in this cognitive trap.

[george888055]

Bitcoin is primarily a benefit for those who are well versed in it , as well as scammers are also people who know what to do and how to confuse other people.

[bazoka17]

I have not found users who have been harmed by bitcoin. I know that the loss experienced by bitcoin users is because they themselves cannot store bitcoin, like losing bitcoin because of inadvertent bitcoin. and I think the benefits of bitcoin are more than fraud. so I say that crypto phobia is actually what we make it. In some cases people provide an interesting foundation regarding the risk of cryptocurrency and instability. But in many cases, their negative conclusions only sound like: fraud, fraud, and other "cruel" statements.
I think this phenomenon is spreading fast enough.
What do you think about that?

[Zadeket]

But this is not that relevant to be honest, i think that all the people that wants to buy bitcoin are going to keep doing the same for a long time, and all the others, will just stay on the other street

This phenomenon surprised everyone, especially bitcoin observers. Nobody estimates that the price of bitcoin will reach thousands of dollars in just 10 years. People who trust bitcoin eventually become millionaires.

[leexhin]

Seems like this would be occured by the people who lost a lot in crypto,
Who risk too much and ended up losing .

[Calantha5635]

When prices fluctuate, panic starts and it spreads very fast. Those who join the bitcoin community are entering without knowledge they are seeing fast money which is not good for the community. I hear more and more uncertainty from secret and desperate news from cryptographers in different Telegram channels. But this does not involve honesty, I think all those who want to buy bitcoin will continue to do so for a long time, and all others, will just be on another street. Because I also see it in our country. That is because they watch the news in the mainstream media, where the media involves electronic money in the scammers. Well, we can not blame them because when I myself do not know bitcoin and see the news, maybe I will not go into bitcoin. People will always have problems with bitcoin and electronic money, people with much money want to protect what they have and people without fear of losing what they have. If you could spend bitcoin and electronic money like any other currency like fiat, what's the difference?

[alternatyomega]

The growing popularity of electronic commerce has led to the phenomenon of phishing. For those who do not research in the field, it is certain that they are the prey for these fraudulent activities. When Bitcoin came to the throne, Bitcoin scams were so sophisticated that so many were cautious but still trapped by them.

[Johnzky]

haters gonna hate bro. one thing I'm glad I learned is that people are for the most part full of shit, you shouldn't take them seriously. don't try to show them they are wrong; let them stay comfortably in their ignorance.

Atleast you are being kind as letting them be killed by their ignorance lol

This is a worldwide phenomenon so everything is possible to happen about being inside crypto community

I would choose to lose than having a phobia by engaging cryptocurrency.and for the others this must be told so the might choose what path to take in profiteering

[Elerntta]

It's just lack of knowledge. Many people treat cryptocurrency this way simply because they do not understand it. That's why they make up stories about fraud. And I do not know how to deal with it, because to convince people to the contrary is very difficult and often impossible.

[Urbinklin]

You are right, it is quite possible to call it a phobia because many people are afraid of what they do not understand. Therefore, they begin to hate cryptocurrency, telling everyone that it is a fraud. And they themselves sincerely believe in it, even without properly understanding this issue.

[bitvelk]

The most interesting thing is that most of these bitcoin haters do not have any decent argument that bitcoin is a fraud. They just tell you that it is a bubble and it is not necessary to believe in it and invest the money, but the reason I can not explain.

[tiktak89]

I fully agree with you, most people just hear the "authoritative" opinion about bitcoin and repeat it, even without understanding this issue. So skepticism around bitcoin is born and develops.

[CryptoGosu]

Many people have lost their money. Many have become afraid of cryptocurrency. I think if you buy cryptocurrency, then this should be interesting for you. Then you are not so worried about the price drop.

[EllenSmith]

I assume the loss in bitcoin  due to personal security is not good. In general, the benefits that bitcoin brings are far greater than the losses

[cryptohunter]

to be honest the OP posted this before the biggest wave of cryto investment and interest ever happen yet.

so let's not be too worried.

however constant scams will eventually get crypto a bad rep with those who are not able to do their own DD.

[reality18]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

Most of these people with negative perceptions are not well informed about crypto. These people thrive on the false news presented by the media, banks and governments about cryptocurrency. They have failed to learn the truth. The only way to curb this is to take the truth to them through effective shared knowledge and awareness creation in every form.

[burky156]

haters gonna hate bro. one thing I'm glad I learned is that people are for the most part full of shit, you shouldn't take them seriously. don't try to show them they are wrong; let them stay comfortably in their ignorance.

Yes! Exactly it is, haters gonna hate. But i am sure that those haters will regret in the near future because they will not buy antyhing about cryptocurrency. There are many rumors and speculations but i would not hear them, because i know that we are in the right path with cryptos..

[airdrophunter]

I wonder what will be the term to be minted out from that fear. Is it cryptophobia? Whatever it is, it is just normal if you are into crypto investments. Some of people who are inexperienced in crypto investment will surely have this kind of fear when they have already experienced how their investment fall down hard.

[gajebo]

they afraid because bitcoin price is not stable and afraid lose their money because bitcoin price is expensive.
they have never tried, they are afraid to try it.

You are right, they are afraid before trying and giving the assumption that bitcoin is fraudulent, but if they have tried and it turns out that bitcoin is very profitable, they will regret that they did not invest with bitcoin before.

[john_nautica]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

it must be straightened out about such statements, cryptocurrency for someone who does not know more deeply may be used as a phobia because it will continue to be something that might be detrimental to them. This must be answered with a positive statement if cryptocurrency can have a positive impact.

[killat]

The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?

Many of these phobias are explainable after all what happened during the last year. However, if you di a lot of research you can definitely find a lot of good projects that still brig great profits. I would mention here specially non-ICO based projects, as there is no risk that the project to vanish after all the money from ICO have been collected.

[walemil]

Anybody is free to express his views regarding cryptocurrency, provided that those views are true reflections of the realities on ground. In some cases though, some people spread negative news with the motive to scare innocent people away.

[izza123]

People are always afraid of something new and unknown. But fear disappears when they begin to study the cryptocurrency market and understand how it works. If, moreover, they begin to competently practice the use of crypto currency for the purpose of earning, then they stop seeing something terrible and frightening in it at all. From this I conclude that illiteracy is the cause of all fears.

[shesheboy]

they afraid because bitcoin price is not stable and afraid lose their money because bitcoin price is expensive.
they have never tried, they are afraid to try it.

its not about the unstability that they are afraid of but it is because of the bad news that they heard . they think cryptos are scam because almost all ads that we see online related to cryptos are always asking for investment or initial payments before they get started  .

speaking of phobia , phobia's were only differ from person to person  . so not all that have read negative news will possibly have a crypto phobia .

[maxilopez]

indeed, this is observed in the market but one should not forget that such a phobia exists in any activity, especially where there is excitement and the opportunity to make money

[Koenraad Lange]

Many people have lost their money. Many have become afraid of cryptocurrency. I think if you buy cryptocurrency, then this should be interesting for you. Then you are not so worried about the price drop.

Excessive fear usually occurs because of something excessive. So if the phobia on cryptocurrency means it has suffered a large loss, so that fear is prolonged and haunting. Hearing his name is allergic. So there must be therapy that this is a business, and losing or winning is normal.

[Wodomi]

I wonder what will be the term to be minted out from that fear. Is it cryptophobia? Whatever it is, it is just normal if you are into crypto investments. Some of people who are inexperienced in crypto investment will surely have this kind of fear when they have already experienced how their investment fall down hard.

Is that cryptophobia? Questions like that have emerged lately with the rise of crypto users, both those who have enjoyed the results or those who have suffered losses. Seeing the price of cryptocurrency continues to fall, many experience anxiety about the future of assets that have been invested, because making decisions at a time like this is very difficult. Fear is haunting because investment does not deliver as expected.