What is the biggest misconception of Cryptocurrency in your country?

[al maruf]

In my country, the government has banned the crypto market. And take legal action against the people involved. This is a serious criminal penalty. The government and some people think that this is merely a coin, which is just fraud. And by this many big crimes are organized. The government can not know which committee. And many money can be trafficked to be a country. As the government here can not monitor And by this it can cooperate in the forest work. So the government has banned the crypto market.

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[flying_bit]

In our country, this are weird things people think of bitcoin and cryptocurrency
1. Those who don't believe in bitcoin think It's the biggest scam of all time. People think of cryptocurrency as a scam only. Not only because they don't understand what is blockchain and crypto is but because it is widely use to scam people.
2. Those who's just starting in bitcoin usually think Bitcoin can be earned and mined easily. Yup, funny but people think cryptocurrency is easy money and that just few investment they can get rich. They also think that just one antminer and on their own, they will be able to mine 1btc in no time which is a complete joke specially with kind of internet connection we have. Also, here in our country people think they can mine bitcoin in their android phone, yup we're one of those country who will stake our precious .001 btc believing we will get 1btc in a month and will complain and whine when we get scam.
3. They are firm believer and supporter of XVG and TRX and for then one of this two coin is the  future of cryptocurrency. No explanation needed!

[Haunebu]

In India,the government doesn't encourage crypto currencies.Rather the centra bank RBI has initiated all the other banks to close accounts related to crypto trading.T he Indian government is in an idea to launch its own digital coin named as Lakshmi.Also the Indian government wants to totally stop anonymous transactions and for this,its trying to digitalise all payments.So it would not be ready to allow cryptos which are mostly used for anonymous transactions.

This is true, but you are partially right. Based on what I have read recently, it seems that the Indian government never intended on banning cryptocurrencies outright and instead are focused on regulating it while the RBI(Cryptocurrency newbies) decided to ban it in the hope that the crypto would disappear from the 2nd highest populated country in the world.

This turned out to be the wrong move since P2P trading has become popular now which means that they cannot track financial transactions and they have themselves acknowledged that they do not possess a deep understanding of the cryptocurrency market.

[richman3451]

in many countries, people get the idea that bitcoin and crypto currency is a pyramid or a hoax that people will lose their money. in fact, this is done specifically to ensure that people can not stop controlling people

[jekquenkinkas]

many countries forbid bitcoin as a means of payment, including in my country Indonesia prohibits the use of bitcoin as a payment instrument.

[EmmaBen]

People see as an untraceable medium to launder money, while others outrightly call it scam. When you tell some people that you are into bitcoin, they will ask: "what's that?", some with apprehensive facial expressions.

[IamKnowledge]

In my own country, the biggest misconception is that bitcoin has not come to stay- Bitcoin will die very soon. However, I have always stood in to prove my people wrong

[Olalomi]

Here in my country they thought bitcoin is just a scam only few people can fully understand what is blockchain and crypto currency so everytime they will hear bitcoin people will say you should stop that because its a Scam.
How about you? What is the weirdest thingy you heard from people about bitcoin or crypto currency?

I always have an hectic task convincing people about the misconception about bitcoin in my country, a lot of them opinionated that it is a scam and ponzi scheme of course we all knew that bitcoin doesn't a fixed value ie always fluctuating in view of that convincing people to adopt and invest in it becomes difficult.

[Ilegendph]

In my country, bitcoin is though to give a source of income trough this forum and I am one of those who become interested. At first, I search what is bitcoin, altcoin, how it works, what is blockchain etc. until I get the answer I want and the overview of what is cryptocurrency all about. The biggest misconception in my country is that cryptocurrency is money making scheme although its half true, the other side makes it worst for those who try it because of someone telling them to invest as it guarantees profit which is not true. Actually, only a few percentage that gets in the industry that makes millions in a shorter period of time. Most of the millionaires here are invested their money in bitcoin 5 years ago which is I think a good time to invest if we just believe in bitcoin.

[skisport92]

in Russia, 90 % of people know nothing about cryptocurrency. and out of the 10 % who know, half think it's a Scam, a pyramid scheme, financial and other nonsense.

[skisport92]

a friend of mine says: "you all shake on the money!"at the same time spends on drink every day more than it earns per month) the question is, who rocked on the money?)

[BeeRoach]

In my country people are mostly positive about cryptocurrencies but also a lot of them, especially the older ones are scared of it and call it a ponzischeme.

[lamcaicmm009]

In my country, really bitcoin is not well known, especially young people present when referring to bitcoin also do not know what it is? Only those who learn and work quietly know about it and they are less likely to point out each other about using bitcoin, almost exclusively working individually unless they do. Working together for a long time or some other special case.

[nguoiyeutao696]

There are still limits in my country, they are not really aware of the importance of bitcoin, although the world has talked about the virtual currency. Some people do not understand the concept of bitcoin. When it comes to developing countries like China (which has a very high bitcoin ratio)

[bitterdog]

Here in my country they thought bitcoin is just a scam only few people can fully understand what is blockchain and crypto currency so everytime they will hear bitcoin people will say you should stop that because its a Scam.
How about you? What is the weirdest thingy you heard from people about bitcoin or crypto currency?

As a Indonesian person, i think the biggest misconception about cryptocurrency in my country is cryptocurrency only for scammer and criminal action, we can not expect the benefit from cryptocurrency. I think thats the biggest misconception.

[Ahimoth]

Same thing here but only for those who are not really into it. You know, the traditionalist and we can't blame them because of the news that are going out about scams on cryptocurrency although those in the trading system are already quite comfortable with it already.

I think not just in my country but all over the world that cryptocurrency has been misconceived as a scam. Many people are trying to take it down because they tend to believe it's a scam. Well right now let me tell you that it is legit and a great system indeed. Don't let ignorance make you a fool and just educate yourself about crypto currency.

[sidodadii]

Here in my country they thought bitcoin is just a scam only few people can fully understand what is blockchain and crypto currency so everytime they will hear bitcoin people will say you should stop that because its a Scam.
How about you? What is the weirdest thingy you heard from people about bitcoin or crypto currency?

i think its like in your country. bitcoin is scam, ponzi, and the other thing like that. bitcoin is gambling, but there are people say that bitcoin is trading's activity. so, when i say im collecting bitcoin, they think im trader. in a fact, there are many ways to earn bitcoin.
i dont care about what they say, as long as its not harm them, ill do what i want.

[bitcoindusts]

so everytime they will hear bitcoin people will say you should stop that because its a Scam.

It's nearly the same for most countries, bitcoin is perceived to be a scam.

Mainly because the only newsfeed the general masses usually receives from the tube revolves around the same aspect. And if by chance they do try to explain what bitcoin is, people are left with mouths gape open wondering what they just heard.

It's really exhausting trying to make people understand what bitcoin is and more so to convince them that it is not a scam. Sadly, a lot of people are still taking advantage of the hype that bitcoin produced deterring the image of cryptocurrencies more and more.

[ajaymukund]

In my country too, they probably have not grasped the trend and potential of bicoin. In my opinion bitcoin is not bad, you need to spend time to learn it thoroughly, follow it every day, evaluate its potential development will bring good profit for you.

[Dacosta Osei-Tutu]

People in my country have this strong belief that bitcoin is for fraudsters. So most people who are into it usually hide it from the society