Why do some people refuse to accept bitcoin?

[SkustaClee]

https://medium.com/datadriveninvestor/why-your-annoying-friend-wont-stop-ranting-about-bitcoin-9808a132480

The author of this article believes that putting a small amount of currency you have into BTC can help you protect your wealth.

He says, “If enough other people believe BTC is money and use it; it’s money even if it doesn’t follow the old rules our nobel prize winning economists have told you. The old rules are being taught a new lesson by the market.”

What do you think about it? If you or your friends don’t buy any bitcoin, what is the reason?

Lack of knowledge is the main reason why many people are do not have care to what is bitcoin. There are also misinformation that spreading around the society that makes them scared to use and accept bitcoins.

[Fredomago]

https://medium.com/datadriveninvestor/why-your-annoying-friend-wont-stop-ranting-about-bitcoin-9808a132480

The author of this article believes that putting a small amount of currency you have into BTC can help you protect your wealth.

He says, “If enough other people believe BTC is money and use it; it’s money even if it doesn’t follow the old rules our nobel prize winning economists have told you. The old rules are being taught a new lesson by the market.”

What do you think about it? If you or your friends don’t buy any bitcoin, what is the reason?

Lack of knowledge is the main reason why many people are do not have care to what is bitcoin. There are also misinformation that spreading around the society that makes them scared to use and accept bitcoins.

This facts are holding people's views regarding to Bitcoin, they are lack of knowledge and simply being moved by people who also don't any good ideas about this new digital currency, bad media exposures are also have a big influence why people deny changes in terms of payment transactions using Bitcoin.

[thankyoulord]

some people refuse to accept bitcoin because they feel the government has not yet approved it and so may be worth nothing, secondly people think if you pay them in bitcoin, the price may drop causing the bitcoin to loose value. people also think bitcoin may get banned and the dont want to be caught in between

[adzino]

They do not want to accept it probably due to the volatility of the price. Even though, the price isn't that much volatile, they do not want to go through all those hassle to convert back the coins to fiat. Another reason might be the spread of negativity of bitcoin and other crypto currencies. The media spreads the negative news about bitcoin like a wild fire. Newbies read those news and ends up being ignorant and hating bitcoin.

[WebTera]

Bitcoin is pretty young, and also negatively on the people's confidence in him influence his instability and skepticism on the part of the state. But I think that this will not last forever and eventually everyone will understand the benefits of bitcoin and start using it.

[PeRo]

People don't want to use Bitcoin for buying stuff because cash is a bit easier to use and Bitcoin has a volatile price so they can lose a lot of money. As for imvesting, some people don't have time or the nerves to do that or are just scared of losing money. I really do understand those people, but ai don't have an explanation for those who hate Bitcoin or have something against it.

[dimastegar]

The main reason people reject Bitcoin is because the price of Bitcoin is very volatile. And the second reason is that, because people don't know how to buy or use Bitcoin.

[swetas0707]

There are few reasons for this:
1. Many governments not adopted as a legal tendor for payment.
2. Banks are not supporting.
3. Many Ponzi schemes are associated with this
4. Traditional approach of thinking and mindset.
5. It is not available in physical form so that people can trust on it like fiat currencies or gold or any other commodity.
6. It is not user friendly to spend / purchase / sell.
7. In many countries it cant be converted to their currency as government not supporting.
8. Negativity is more about crypto currency.
9. Difficult to understand its basic concept.
10. Safety concerns.
11. High Volatility.
12. It is still considered that this is more used for illegal purposes.

[naufals4]

because people still don't know about bitcoin fully, besides there are also some who know about bitcoin but are afraid to invest or buy bitcoin because of the ever-changing value

[donadoni212]

some people reject bitcoin because they don't understand bitcoin and some people don't know how to use bitcoin. many people are afraid because of the price of bitcoin which always changes up and down.

[entebah]

The main reason people reject Bitcoin is because the price of Bitcoin is very volatile. And the second reason is that, because people don't know how to buy or use Bitcoin.

Yeah right, some people don't know about Bitcoin, so they will quickly reject Bitcoin, because they don't know how to operate Bitcoin. And for people who understand Bitcoin, they might refuse because they know that Bitcoin is vulnerable to hacking and so on, so that the person rejects Bitcoin.

[Abiky]

some people reject bitcoin because they don't understand bitcoin and some people don't know how to use bitcoin. many people are afraid because of the price of bitcoin which always changes up and down.

Exactly. A good example of this is Warren Buffet, who doesn't believe in Bitcoin no matter what. Considering that he doesn't understand the true potential of Bitcoin's blockchain technology to change the world, it's the reason why he behaves that way. Despite this, what most people read is mainly negative news spread all over mainstream media. However, they don't take their time to make a research about how Bitcoin and other cryptocurrencies work, and their true purpose for the world.

For this reason, there are still many people which are refusing to accept Bitcoin as their alternative currency for daily payments. The only thing that could attract them, is if there's proper regulatory measures in place across cryptocurrency exchanges, as well as, quality education about how it exactly works. Other than that, people will continue to refrain from using Bitcoin or any other cryptocurrency on top of Fiat. Just my thoughts

[iMark]

The main reason people reject Bitcoin is because the price of Bitcoin is very volatile. And the second reason is that, because people don't know how to buy or use Bitcoin.

Yeah right, some people don't know about Bitcoin, so they will quickly reject Bitcoin, because they don't know how to operate Bitcoin. And for people who understand Bitcoin, they might refuse because they know that Bitcoin is vulnerable to hacking and so on, so that the person rejects Bitcoin.

Yeah that's a lot of reasons I see, of course they don't really know much about bitcoin, but have interpreted that bitcoin is a detrimental investment because fluctuations bring prices down very deep, which makes them not interested in using them as investments or currencies

[Twinscoin2017]

The main reason people reject Bitcoin is because the price of Bitcoin is very volatile. And the second reason is that, because people don't know how to buy or use Bitcoin.

Yeah right, some people don't know about Bitcoin, so they will quickly reject Bitcoin, because they don't know how to operate Bitcoin. And for people who understand Bitcoin, they might refuse because they know that Bitcoin is vulnerable to hacking and so on, so that the person rejects Bitcoin.

Yeah that's a lot of reasons I see, of course they don't really know much about bitcoin, but have interpreted that bitcoin is a detrimental investment because fluctuations bring prices down very deep, which makes them not interested in using them as investments or currencies

Yes I agree on that, I believe that there are so many people that didn't even know what is bitcoin yet and some other people didn't trust bitcoin as form of investment. Will I believe that we cannot blame everyone for not trusting bitcoin because this is really a profitable yet a risky type of investment so if we want to earn we needbti take a big risk on this feild.

[Dimas99]

I think a lot of people are scared by its price.
If you accept a BTC payment today, you could potentially lose 10/20% of its value in few hours.

maybe you say there is a truth that people are afraid of too much risk in investing in crypto currencies so that not accepting bitcoin may also be because the government forbids crypto currency to be used

[PlusOne88]

There are so many reasons for people refusing to accept bitcoin. One of these reasons is the lack of support from their government. Instead of allowing bitcoin some countries really banned it. Other reason could be the volatility of bitcoin, which makes it not so useful for storing money especially if prices keeps getting lower in value. These are things I have observed as a very common reason. But should people use bitcoin everyday for a specific purpose I think the volatility of the coins can be eradicated as much and it will become stable.

[mitchr4]

Around me people many refuse to accept bitcoin is that most of them hard to understand how this currency works, and they do not care anymore about bitcoin. Even though they know the benefits to be gained if using or investing in bitcoin.

[BlackPanda]

https://medium.com/datadriveninvestor/why-your-annoying-friend-wont-stop-ranting-about-bitcoin-9808a132480

The author of this article believes that putting a small amount of currency you have into BTC can help you protect your wealth.

He says, “If enough other people believe BTC is money and use it; it’s money even if it doesn’t follow the old rules our nobel prize winning economists have told you. The old rules are being taught a new lesson by the market.”

What do you think about it? If you or your friends don’t buy any bitcoin, what is the reason?

I am one of those who believes in Bitcoin as a financial system that will be used in the future.
Bitcoin has a system that is so good because it has security features and excellent flexibility.
To convince someone to use Bitcoin is easy, we just have to use them to use Bitcoin and look at the person's reaction.

[anodyne]

I think the main reason for that is that other people who have not yet engage to the crypto currency community is those people who have not have enough knowledge and ideas how Bitcoin really works and a thw goodness it may bring to us. Well, I am a proud Bitcoin user and I greatly accept Bitcoin will all my heart since I come engage to it even how hard the crypto market it is now.

[Syakbrown]

most people today are afraid of buying bitcoin because they see a fall in prices that are so uncontrolled that they fear that the price decline will have no limits and make a big loss for them. this is very human because no one wants to lose money.