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Author Topic: What factors scare others from investing into bitcoin?  (Read 3602 times)
Mary Ofosuhene
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June 18, 2018, 08:42:01 PM
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Bitcoin has come a long way and come really come to stay. As a matter of fact, anytime some people who know nothing about bitcoin are introduce to bitcoin about how bitcoin works, they channel all their attention to whoever is passing the information to them by listening attentively. However, after developing the interest in bitcoin, they quickly revert their interest in bitcoin the moment they hear of the volatile nature of bitcoin, thereby, deciding not to invest into it anymore. Guys, what are some other factors that scare people from investing into bitcoin?

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June 18, 2018, 09:44:16 PM
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1. a big factor is : legal issue. it is not legal and not acceptable in all country.
2. also some people scare because bitcoin is not commodity, nor currency.
3. Prone to illegal activity
As we know due to the lack of government control, terrorists and extortionists are also utilising the cryptocurrency space to their advantage. “Bitcoins users on either end of a transaction can remain relatively anonymous and cybercriminals have found ways to mask their addresses, so it can be difficult for government authorities and companies to trace such illegal activities,”
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June 19, 2018, 02:54:38 AM
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I do believe that price volatility and legal status as the main concern for anyone to think of their involvement in Bitcoin and other cryptocurrencies. I don't think that there is any other issue like technology or user-friendliness. The lack of awareness is one of the major reasons for the people not to get involved with Bitcoin because they believe the media stories without doing their own research and trying to understand what Bitcoin and blockchain technology is all about and how it works.

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June 19, 2018, 03:04:41 AM
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Potential investors loses interest in investing bitcoin because the mainstream media is spreading news that bitcoin is nothing but a ponzi scheme so those with only little knowledge of bitcoin easily believes it and avoids it. Another main factor is volatility we all know that btc is very unstable currency but you can also capitalize from it unlike in the stagnant stock market.














 

 

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June 19, 2018, 03:11:03 AM
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Bitcoin has come a long way and come really come to stay. As a matter of fact, anytime some people who know nothing about bitcoin are introduce to bitcoin about how bitcoin works, they channel all their attention to whoever is passing the information to them by listening attentively. However, after developing the interest in bitcoin, they quickly revert their interest in bitcoin the moment they hear of the volatile nature of bitcoin, thereby, deciding not to invest into it anymore. Guys, what are some other factors that scare people from investing into bitcoin?

Some people will not join this investment because of the KYC in which they.might have secrets that may reveal like tax invasions or maybe they have some offense records in which they can't really to join the investments. Others fear the KYC because they don't like the inconvenience way during their investments processing because its time wasting for them due to some of the ICO's that are using Bitcoin platform takes long time of approving the KYC.

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June 19, 2018, 03:14:56 AM
 #6

they quickly revert their interest in bitcoin the moment they hear of the volatile nature of bitcoin, thereby, deciding not to invest into it anymore.

this is the problem, when you introduce bitcoin to others you tell them "it is a tool to get rich because it is going to the moon" so they become skeptical specially when they see the price swings. obviously people won't invest in something like that.

but if you introduce bitcoin properly as what it really is then they won't turn around from buying bitcoin. bitcoin is a decentralized currency and people should buy it instead of investing in it and want to get rich.

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June 19, 2018, 03:24:25 AM
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Hi, don't considering people who never invested money in their life and never will do, some people are scared of investing in bitcoin because they think it's a scam. other people don't invest because they don't understand bitcoin and how it works (like Warren Buffett) and others because are scared to lose too much money.
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June 19, 2018, 08:02:43 AM
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Bitcoin has come a long way and come really come to stay. As a matter of fact, anytime some people who know nothing about bitcoin are introduce to bitcoin about how bitcoin works, they channel all their attention to whoever is passing the information to them by listening attentively. However, after developing the interest in bitcoin, they quickly revert their interest in bitcoin the moment they hear of the volatile nature of bitcoin, thereby, deciding not to invest into it anymore. Guys, what are some other factors that scare people from investing into bitcoin?
So others are afraid to invest in bitcoins because of the flactuating Bitcoins price.
They are afraid that the price of bitcoins has fallen. So they really need to know the bitcoins before they invest. And of course you should be patient if the price of bitcoins falls as a result of it can achieve success and gain bigger profits.

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June 19, 2018, 08:08:57 AM
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Some people who don't know bitcoin have seen it fluctuate so much that they think it's just a ponzi scheme, but that's wrong.
But that's because they don't understand blockchains and bitcoin. Roll Eyes

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June 19, 2018, 08:36:24 AM
 #10

I will say people have their own opinion about bitcoin, maybe minor experiences of scammers going into it for their selfish reasons all these have contributed to people not having a thought to invest it scare people away a bit.. I guess when someone lacks information he is deformed all round
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June 19, 2018, 08:50:36 AM
 #11

I believe what scares people mostly away from in vesting in bitcoin is largely based on the global acceptability of bitcoin. Bitcoins are still only accepted by a very small group of online merchants. This makes it unfeasible to completely rely on Bitcoins as a currency. There is also a possibility that governments might force merchants to not use Bitcoins to ensure that users’ transactions can be tracked.
Another reason is that Wallets Can Be Lost. If a hard drive crashes, or a virus corrupts data , and the wallet file is corrupted, Bitcoins have essentially been “lost”. There is nothing that can done to recover it. These coins will be forever orphaned in the system. This can bankrupt a wealthy Bitcoin investor within seconds with no way form of recovery. The coins the investor owned will also be permanently orphaned. Also the prize is not always stable and this can also cause a leap in profit.
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June 19, 2018, 08:53:38 AM
 #12

I think people have a particular fear before investing in bitcoin. I think the biggest worry of many investors before deciding to invest in bitcoin is unstable profit and the big threat from the hacker. So few investors agreed to take the risk to make a profit from bitcoin.

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June 19, 2018, 09:02:19 AM
 #13

Bitcoin has come a long way and come really come to stay. As a matter of fact, anytime some people who know nothing about bitcoin are introduce to bitcoin about how bitcoin works, they channel all their attention to whoever is passing the information to them by listening attentively. However, after developing the interest in bitcoin, they quickly revert their interest in bitcoin the moment they hear of the volatile nature of bitcoin, thereby, deciding not to invest into it anymore. Guys, what are some other factors that scare people from investing into bitcoin?

Losing money of course, some stay because they want to risk and others are standing on the side and watching closely what is happening and simply knowing that bitcoin exist. You have to understand that we are not even near the adoption level that we should be and thus knowing this not many people are interested. First of we have to make bitcoin more usable and to achieve that we have to make it to have more stable price. Because you don't want to wake up in two years to figure out that when you spent your 100$ worth at a time to buy some items now it would have value over a 100k$ or more.
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June 19, 2018, 02:34:48 PM
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I think that people are afraid of investing in bitcoin to reduce its price, they think that it will continue to decline, I also think that it will rise in price
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June 19, 2018, 02:45:19 PM
 #15

many factors that make people afraid to invest bitcoin apart from news news that often affect bitcoin prices is about predictions that say bitcoin will die soon because of that people start afraid to invest

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June 19, 2018, 02:54:23 PM
 #16

You answered your own question in the subject line.

Because bitcoin is currently an INVESTMENT. It is not currently MONEY. The average guy that normally buys things with money cannot use bitcoin because it’s more difficult to get than his local fiat. If his employer paid him in bitcoin then bitcoin would be used to pay for the things he needs.

Not everyone owns gold or silver, invests in the stock market, buys bonds or invests at all. If fact, fewer people than ever before even have a savings account. Retirement accounts are becoming a thing of the past. Most of them are living paycheck to paycheck. If they have no money to risk on a volatile investment they will not buy bitcoin. Instead will opt to buy food and housing with their money.

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June 19, 2018, 02:54:35 PM
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I think that the biggest fear of newcomers is that they won't be able to cashout the funds back after they invested in and turned out to be in a profit.
We should focus on showing the features of bitcoin- including the fact that no one is able to revert a transaction after it has been sent( which is sometimes make newcomers to fear because unlike traditional cash they won't be able to call their bank later and to cancel the payment in case they realize that they got scammed).

We should focus on showing that bitcoin transactions are the most safest in the world because no one can block your account or ban you, unlike traditional cash accounts.

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June 19, 2018, 02:56:21 PM
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Perhaps one of the main factors is to ignore people about bitcoin, where my country lives is still lacking in bitcoin socialization, what else the government has yet to legalize bitcoin, so it is unlikely to invest in bitcoin.
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June 19, 2018, 02:58:54 PM
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Bitcoin has come a long way and come really come to stay. As a matter of fact, anytime some people who know nothing about bitcoin are introduce to bitcoin about how bitcoin works, they channel all their attention to whoever is passing the information to them by listening attentively. However, after developing the interest in bitcoin, they quickly revert their interest in bitcoin the moment they hear of the volatile nature of bitcoin, thereby, deciding not to invest into it anymore. Guys, what are some other factors that scare people from investing into bitcoin?

People tend to be afraid because they don't usually know what is it that they are going to invest it in. So maybe if people just want to be eager to know it then they will try to go for it.

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June 19, 2018, 03:11:43 PM
 #20

There are many factors due to which an individual is scared to invest in Bitcoin
  • volatility- The high volatility causes huge price fluctuations due to which people are scared in investing into BTC
  • Legalisation- Bitcoin is not yet legalized in many countries which make people step back from investing into BTC
  • Scams- Many people get scammed investing BTC into scam ICOs which has also become a factor now.
  • fear- fear is a major factor why people don't invest in BTC. The fear of loss cannot be taken by many people.
  • technology- many people are still unaware of how to use the Bitcoin and the blockchain technology which is why they have not yet invest into it.














 

 

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