Why are they afraid of bitcoin?

[Yakult]

The first time we heard about bitcoin give us the idea that it was a scam. We can't be blame for  that since scams are everywhere. People just needed someone to show them that bitcoin is real. For me, I started believing in bitcoin when friends introduced it me to I saw the potential earning. It is not hard for me to believe as long as I trust them.

[trinhan1988]

I think they are afraid of btc because governments see the dangers of btc threatening to manipulate their printing rights. So governments are trying to propagate btc's virtual value. The world's money every year is inflation because the government prints money too much compared to the actual needs of the people, while btc has finite numbers. When btc is more popular, btc will be like gold or diamond.

[jelbert1351]

You cant blame them. There were really massive dumping of prices since january 2018. On december it was at 20k USd and now half of the price was gone. Too bad for those who bought at the all time high.

[TEMONG]

It needs to be socialized about bitcoin so bitcoin can be well received, and not a scary thing, by giving positive information about bitcoin.

[sp01_cardo]

They are afraid because they dont know and they have no knowledge all about bitcoin. All that they know that bitcoin is only a scam. They didnt even know what bitcoin will give into their lives.

[dupee419]

Sadly, most people are thinking of bitcoin as something "fake", and a waste of time. So why are they afraid of bitcoin? Well, its because they see bitcoin as a scam and ia used for dark transactions, on the other side of bitcoin is not as what you think it would be, bitcoin is essential, bitcoin is beneficial, and if you would try to study about it, you won't actually fear bitcoin.

[kmrunner]

They are afraid of Bitcoin because it is risky, unpredictable and they don't have sufficient knowledge about it, they lack understanding on how it works and what it can bring to our future.

[haji lulung]

I think there really is no reason to fear of bitcoin. Bitcoin gives a chance to all people to make their better economy. The people can get some profits by trading or investing bitcoin.

[J_CCreate]

I believe the one's who are afraid are those that are lacking knowledge on how the crypto world runs and mostly if their investment fails to grow and drop.

[richminded]

I believe the one's who are afraid are those that are lacking knowledge on how the crypto world runs and mostly if their investment fails to grow and drop.

They are afraid because bitcoin may take the traditional money away specially with the government they know that this technology can make a good run in the future. People who do not know bitcoin are the one who afraid to take some risk and don't want to make money through this market. Some people who took risk are the real winner at the end of the day because cryptocurrency will be our future digital currency.

[zafirawijaya03]

They are afraid of bitcoin because they do not know the bitcoin completely, but those who already understand and feel the benefits of bitcoin, will say positive things, so there needs to be a complete knowledge of bitcoin

[Tenderino]

I think they are afraid because unlike the fiat money system where they have more or less full control of the transactions, they have almost no control over the bitcoin value storage and transactions, because people store it on their pcs at home and do not use system infrastructure to transfer it.

[shone08]

I believe the one's who are afraid are those that are lacking knowledge on how the crypto world runs and mostly if their investment fails to grow and drop.

They are afraid because bitcoin may take the traditional money away specially with the government they know that this technology can make a good run in the future. People who do not know bitcoin are the one who afraid to take some risk and don't want to make money through this market. Some people who took risk are the real winner at the end of the day because cryptocurrency will be our future digital currency.

You have point in that scenario dude most people who have no knowledge in crypto world are those people that scared to enter in bitcoin world but people who learn the cryptocurrency are people that not afraid to invest their money to bitcoin and in some scenario government have no control to bitcoin transaction thats the reason they hate bitcoin even it has a bright future.

[Pattart]

They afraid bitcoin because of ignorance. 150 years ago, people afraided of railway and train, 100 years ago, people afraided of alternating current. There are people in all ages afraid of new things.

Lack of knowledge and insufficient information on the capability and opportunity of Bitcoin could give to us we definitely lead for not taking Bitcoin or not even notice Bitcoin. I think people much need to educate themselves for them to learn and to have the opportunity to earn and to gain profit.

I think it is a genuine human nature that they will self-defend against something new that they don't know. of course the root of the problem is because they have no knowledge whatsoever about the new thing so they are afraid if the new thing is implemented or present in their life. so is bitcoin? many people are less afraid of bitcoin because they only understand that bitcoin is the illegal currency used for crime.

[pinoyden]

I think they are afraid because unlike the fiat money system where they have more or less full control of the transactions, they have almost no control over the bitcoin value storage and transactions, because people store it on their pcs at home and do not use system infrastructure to transfer it.

fiat money is regulated  and that is why it is controllable or manageable but in the case of bitcoin it is decentralized and that means no central authority that holds it. Bitcoin doesnt also have a physical form as it was only digital so again you cannot hold or control it. the only reason why they are afraid of bitcoin is that they think bitcoin is a scam due to the fact that bitcoin is only a digital currency.  Bitcoin has also got a lot of bad reviews in the past And it does affect its reputation somehow.

[yanifitri20]

Why should they be afraid of bitcoin, bitcoin is not a monster, it seems they should learn more and know more about bitcoin"

[J_CCreate]

Banks and governments is scared of Bitcoin and other decentralized cryptocurrencies - allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank.

Banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly.

[Masongrae]

They are afraid of bitcoin because negativity comes first into their mind, and close minded are can be the reasons not to take a risk and afraid to put their money at stake.

[ipanks]

They are afraid of bitcoin because negativity comes first into their mind, and close minded are can be the reasons not to take a risk and afraid to put their money at stake.

besides negative news, I think they see the price reaches $19k and then the price suddenly drops to $8k and it stay at that level of price for a long time but now, the price is starting to increase again. and if they can analyze about bitcoin, they can see that the price always changes in every time and the price will be back to the high price after it's dropped. besides that, they don't have to believe for any news that is not true and it is better for them to make their own analyze so they could know what will happen with the bitcoin.

[coinholic]

This is true due to:
1. Lack of education/information.
2. Misconceptions or false facts about the purpose of Bitcoin.
3. Influence of media on the overall image of Bitcoin or crypto currencies as a whole.
4. Past negative experience/s on investment schemes leading to paranoia and eventually, skepticism.
5. Closed mindedness due to inclination to traditional practices.