Why do some people refuse to accept bitcoin?

[peter0425]

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

What do you mean worth nothing? Bitcoin's price has grow tremendously for all we know? Even if government doesn't approved it, bitcoin will continue to flourish because of its decentralization. Volatility and risk involved are the biggest reasons why there's a lot of people still not willing to try to invest or enter the market, for majority of them, the risk is greater and they afraid that they will lose big money.

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[boyptc]

I'll put my shoe to the people that don't want to buy bitcoin. The very reason is that most of them are scared of it to fluctuate to the point that they don't like.

Most of them knew that the price went to $20,000 and went down to $3,200 so at this point, they aren't willing to put that much money and risk it knowing that it can go lower.

[johnleo]

When I told my friends about bitcoin, most of them thought it was mlm or bubble money because I told them a chance to make profit. I realized they didn't want to involve with it then I changed the information and just told them how cool and fast to transfer money abroad even I provide some information about exchange. Finally few of them want to involve into crypto world.

[Wellyan]

We do not blame if some of our friends or people are not want to buy bitcoin.
Maybe they have some reason on why, Just like they are scared if the money they on bitcoin was a scam only or else the money they have are not back.

yes, what you say is a lot of reasons why people don't invest or accept crypto currency, which is the most reason is risk, and the second is the legal issue of the government with crypto currencies.

[izanagi narukami]

Most of my friend still think that bitcoin is risky investment.
IMO, government play the important role to decide whenever crypto is good or not but since my government against crypto, the situation will be difficult especially for convincing someone to use crypto for daily transaction

[OptimusPrime:)]

 They think so because cryptocurrencies have no intrinsic value. Nothing is backing them. Like a stamp collection or a work of art, their value depends on what other people are willing to pay for them. In the 1600s in Holland, there was a tulip bulb bubble, where some bulbs were worth as much as a house. Overnight, it collapsed and the next day they were worthless.

[keyscore44]

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?

There is no doubt that recently no one is buying Bitcoin because of its price drops over the last few months. People who do not know what Bitcoin is and what technology behind it, unfortunately, are only managed by the simplest information, i.e. the price. Therefore, the most important thing is to educate people first, and later to encourage them to use Bitcoin.

[Belec]

Everyone has his own opinion and that's right, but we can not condemn something that we have not tried, or just say, and we conclude on that. We should know well about bitcoin, to talk to others, we can not invent and say that it's bad if we have never worked with it. Most think it's an online money scam, and they do not know there are ways to win for free, for that are the news curve, more precisely the journalists who write and do not know about it, but the writing because it's popular.

[radjie]

I think most people don't fully understand this digital currency and they still doubt the existence of bitcoin because it cannot be formalized by all countries, even many crimes involving bitcoin digital currency are used as illegal transaction tools so most people are hesitant to use it because the government has separate rules

[AAKODI]

Some refuse no matter how bitcoin is doing great and It seems like even experienced investors refuse to invest bitcoin when comes to invest but I think bitcoin will have a great future and the price will rise very soon because even the now the market seems to recover from its drop and some say this is due to the decline of the stock market but what ever the reason behind what we all know is bitcoin is going through a successful path than the past by adapting into businesses and expanding its areas and gaining more users day by day so I think smart holders should able believe in there investments without any doubt and there is no reason to refuse bitcoin

[mutrang23]

Do people hate Bitcoin? I don't think this is true if everyone tries to find out about it. Communications give false messages about Bitcoin that make people aware of it in a negative way. I think people don't hate Bitcoin.

[Halmater]

People may hesitate or refuse to accept something that they don't understand. Critics about bitcoin made by these people have to be tolarated at a reasonable level and a person who is from our community should patiently tell facts about bitcoin to this kind pf people.

[yulchatar]

These some people are among my friends also. They don't want to buy bitcoin, explaining that they don't consider it a real currency but rather a financial pyramid. That is, they have never had bitcoin and never had some business with it, and don't even want to figure out what it is. I can't convince them and will not do it because I understand that it's useless.

[kidoseagle0312]

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?

The no. 1 reason was they are afraid or scared to do it because they may heard a lot of negative feedback about in bitcoin, especially Bitcoin has been used as front in any of the network marketing system online in this business industry. Which is in my opinion, those people who got interest on bitcoin was just turned into a wrong direction, but to be honest bitcoin was really a great things that can give a big help to anyone, honestly speaking.

[djkyno]

I think these people have many doubts about Bitcoin and cryptocurrencies generally, because the volatility of the prices, and they think it is safer to deal with fiat currencies instead of using crypto. There is also some people ignore the nature of cryptocurrencies and they think it is not real money.

[Strike Eagle 26]

Why would anyone accept bitcoin if its value can drop 70/80 percent within a year. This is certainly not a store of value and if there is a collapse in confidence, people will go to what they understand which are currencies backed by the government.

[Akoldi_ibk]

3) are afraid of scammers

This is almost everywhere. No statistics to back this up, but nearly everyone that has been on the net or is using internet must have been a victim of scam in one way or the other or had a encounter with online fraudster. This experience will make people think twice before investing in an "invisible (intangible) asset" or digital product like bitcoin. I agree with you, friends and family are afraid of being scammed which is slowing down mass adoption of bitcoin.

[FlightyPouch]

Why would anyone accept bitcoin if its value can drop 70/80 percent within a year. This is certainly not a store of value and if there is a collapse in confidence, people will go to what they understand which are currencies backed by the government.

Well that is obvious. People will just use the currencies they are familiar with and they can trust, that is the fiats. It is true that crypto currencies are so volatile and it will really drive off other people. Also, in my country, some people are thinking that Bitcoin is a scam. It is funny though since they are believing such things.

[Kez1817]

Simply because they can't still trust bitcoin because of volatility and it is not stable unlike fiat money. Also they don't want to take the risk in accepting bitcoin.

[Finestream]

Simply because they can't still trust bitcoin because of volatility and it is not stable unlike fiat money. Also they don't want to take the risk in accepting bitcoin.

Right.I honestly think that some people refuse to accept bitcoin because of its high volatility.Price changes from time to time.Since people are used to fiat currencies wherein its value is already stable,they found it hard to adjust to cryptocurrency since there is no fixed value.I know this only happens right now knowing the government still not accepted and legalize cryptocurrency.But soon i know things will be better.