Cryptocurrency Phobia - new social phenomenon

[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.