Why most people think Bitcoin is a scam?

[Mor254]

People and governments have different opinions about Bitcoin and digital currencies, perhaps some consider it a fraud because it was exposed to fraud and the money was stolen from it or because of ignorance and not knowing much about Bitcoin, how it works and its benefits, as they may only consider the few negative aspects.

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[dioanna]

Here in our country, people are not that well informed about digital currencies, but eager to earn especially on easy money.
Sadly some schemers use bitcoin as an investment opportunity that targets greedy people that enters with the promise of huge  profit without even knowing what they are in to.
Greedy people make Bitcoin Categorized as scam.

[Nhor1011]

I think bitcoin is only affected because it is used and can earn online and most of the scammers operate their evil deeds online like ponsi scheme that's why people also think that bitcoin is one of them. People just need to educate about bitcoin and cryptocurrency to have an open mind about it.

[kentrolla]

BTC has been hot topic across the globe and you are saying that most of people think it as a scam. I disagree with your statement, the popularity is increasing and this digital payment ecosystem has amassed many of them.

In my opinion we can't change such negative minded people but those who invested before years are millionaires today what about them? I understand people need to be well educated regarding BTC and how it works else it would have reached its peak.

[bitbollo]

the real question should be: how many people that believe bitcoin is a scam have ever made a small research about it?
because every one think this normally has just followed a couple of fake news (like btc is died, btc has been hacked).
if you talk with some one that has followed these argumentation "deeply" it's just shocked about the technology the real impressive part. for sure illiterate people can understand this, and they think bitcoin is just a smart tricks or another ponzi scheme.

[Bes19]

Most people? You mean those who doesn't have knowledge about Bitcoin. One of the reason why they thought it is a scam because of the investment scheme that use bitcoin as their front of payment.

 If you know someone who think that way please educate them.

[South Park]

Bitcoin has been around for 11 years now, with a large ecosystem of exchanges, wallet providers, and apps behind it. There are now many governments recognizing it as legitimate, bringing a large number of investors into it. For just a short amount of time since its inception, I'd say that Bitcoin has achieved extraordinary results. While all of this sounds good, most people still seem to believe that Bitcoin is a scam or not worth their time. For instance, Warren Buffet criticizes Bitcoin telling that it'll become "worthless" over time. It's these negative comments, which make people skeptical about using Bitcoin and cryptocurrencies as serious money for day-to-day payments.

No matter how crypto enthusiasts try to convince people to believe that Bitcoin is legitimate, everything seems to be the same. I'm starting to wonder why most people have this kind of mentality towards Bitcoin? After all, the pioneer cryptocurrency is being traded at legitimate exchanges. Even some governments have been collecting taxes from Bitcoin. But that hasn't changed people's minds about it. What are your thoughts?

Even now governments are engaging in a media war against bitcoin, just take a look at one of the most recent incidents in which Twitter was hacked and instead of reporting this they decided to twist the story and somehow talk about bitcoin, it is true that the hackers used bitcoin to try to scam their victims but that would not have been possible if Twitter was not hacked first, and this should tell you all what you need to know about why people think that bitcoin is a scam, because the governments and the media keep telling them that it is one.

[peter0425]

Most people? You mean those who doesn't have knowledge about Bitcoin. One of the reason why they thought it is a scam because of the investment scheme that use bitcoin as their front of payment.

 If you know someone who think that way please educate them.

Most of them that brought by those ponzi / scam projects who used bitcoin.

Giving them much clearer ideas about this system will open up their minds that it isn't a money generating
tool, It's needs a lots of skills and knowledge before they understand that part, and with the usage, bitcoin
is a currency that's already being used for transacting online.

[online73]

Hello to all. If all the mass media in the world adhered to the opinion of competent people, and would not relay the opinion of the "financial elite", I am sure that the opinion of people would be radically different. But many ordinary people simply do not have time to deal with incompetent statements. Ask yourself - when you've heard something positive about Bitcoin in one of the top rated media in the world. Only those who think with their own mind and strive for new knowledge do not succumb to such publications, but this is not a large percentage of all mankind, and they are mainly found on this forum.

[Abiky]

If we start from the fact that most people who have heard of Bitcoin do not really understand what it is really about, we should not be surprised that the prevailing opinion is that it is some kind of Internet scam. It is very easy to understand and accept how the monetary system works, it is something we learn as children - we get money from parents and grandparents, and we quickly realize how important it is in life.

Bitcoin is something completely new and revolutionary, and the complete opposite of what we have today - and that system is of course defended by people like Buffett who is very influential because he is rich, and people admire him for that and the way he got rich. Although Bitocin has been around for 11 years, we can’t escape the fact that it only became famous after what happened in late 2017, so we could actually take that as the moment it became planetary popular.

That's certainly true, mate. Most people lack education about everything related to Bitcoin and Blockchain tech. If they knew Bitcoin's potential to transform mainstream finance, they wouldn't think it is a scam. They're most often guided by what's said on mainstream media and the elites (like Warren Buffet). Since these entities talk negatively about Bitcoin most of the time, people become skeptical about it. Rest assured that with COVID-19 encouraging digital payments adoption at a large scale, more people will become inclined into using Bitcoin and other cryptocurrencies for their daily lives. I think some time is needed for the crypto space to mature. It's been only 11 years since Bitcoin's inception, with progress made in every level. Already, some governments are recognizing Bitcoin as legal tender. We might reach a point where people will distance scams from Bitcoin itself in the not-so-distant future. Remember, patience is key in order to achieve great results in the long term.

Nonetheless, it's our duty as crypto enthusiasts to let the world know that there's an alternative to the current monetary system. As long as people are educated about Bitcoin, they'll surely use it alongside Fiat for mainstream transactions. Back then, Bitcoin was declared to be dead hundreds of times. But day after day, it's been showing quite the opposite. Bitcoin has been growing at a fast pace ever since it came into inception back in 2009. The 2017 bull market run has only accelerated its adoption. Someday, people will stop believing misinformation spread throughout mainstream media, as they become more knowledgeable about the subject. Just my thoughts

[romero121]

If we start from the fact that most people who have heard of Bitcoin do not really understand what it is really about, we should not be surprised that the prevailing opinion is that it is some kind of Internet scam. It is very easy to understand and accept how the monetary system works, it is something we learn as children - we get money from parents and grandparents, and we quickly realize how important it is in life.

Bitcoin is something completely new and revolutionary, and the complete opposite of what we have today - and that system is of course defended by people like Buffett who is very influential because he is rich, and people admire him for that and the way he got rich. Although Bitocin has been around for 11 years, we can’t escape the fact that it only became famous after what happened in late 2017, so we could actually take that as the moment it became planetary popular.

That's certainly true, mate. Most people lack education about everything related to Bitcoin and Blockchain tech. If they knew Bitcoin's potential to transform mainstream finance, they wouldn't think it is a scam. They're most often guided by what's said on mainstream media and the elites (like Warren Buffet). Since these entities talk negatively about Bitcoin most of the time, people become skeptical about it. Rest assured that with COVID-19 encouraging digital payments adoption at a large scale, more people will become inclined into using Bitcoin and other cryptocurrencies for their daily lives. I think some time is needed for the crypto space to mature. It's been only 11 years since Bitcoin's inception, with progress made in every level. Already, some governments are recognizing Bitcoin as legal tender. We might reach a point where people will distance scams from Bitcoin itself in the not-so-distant future. Remember, patience is key in order to achieve great results in the long term.

Nonetheless, it's our duty as crypto enthusiasts to let the world know that there's an alternative to the current monetary system. As long as people are educated about Bitcoin, they'll surely use it alongside Fiat for mainstream transactions. Back then, Bitcoin was declared to be dead hundreds of times. But day after day, it's been showing quite the opposite. Bitcoin has been growing at a fast pace ever since it came into inception back in 2009. The 2017 bull market run has only accelerated its adoption. Someday, people will stop believing misinformation spread throughout mainstream media, as they become more knowledgeable about the subject. Just my thoughts

Mainstream media isn't a reason for people's thought on bitcoin as a scam. These days media too looks supportive to the cryptocurrency network. There is lack of understanding, and in particular is termed as scam due to the greed of common people.

People out of greed invest on some form of multiplier scam or on MLM based scams promoted in the name of bitcoin. When one gets fooled, he/she never agree its their mistakes. The same is termed as the failure of bitcoin, and this person spreads it in the negative way. This is why people think bitcoin a scam.

[Mulann2]

it seem it is very hard to convince some people and have them change their mind from their previous believe on btc probably because of the high volatility associated with btc and crypto in general, 
and also the fact that btc does not have any physical value attached to it except being a digital payment system, i guess it is still very strange to some people how the price manage to rise to this extent.

[CarnagexD]

BTC has been hot topic across the globe and you are saying that most of people think it as a scam. I disagree with your statement, the popularity is increasing and this digital payment ecosystem has amassed many of them.

hot topic coz it is controversial, you know only few people adapts the internet there are more ignorant people in the internet, more than you think of actually. Just take a look at the recent hacking in twitter, even crypto has been sitting for decades still there are people who believes in 'doubler' millions has been scammed from that, and only that simple hacked post. There are people who looks at bitcoin as a scam or bubble coz it is inevitable, that's the curse of bitcoin when it was born, it was made for the majority to disagree, the only cure is time and an open mind.

In my opinion we can't change such negative minded people but those who invested before years are millionaires today what about them? I understand people need to be well educated regarding BTC and how it works else it would have reached its peak.

Rather than convincing people to invest, study, or buy bitcoin just focus on your stuff in the cryptocurrencies. You don't have their money, your money is not on them so why persuade them to jump in? only those who cares and attracted will truly know.

[Findingnemo]

Because they heard the two words "Bitcoin" and "Scam" together much often so they consider bitcoin is the scam.

Literally 90% if the people in this world don't know the inflation so it is not possible for them to understand decentralization, peer to peer transactions.

[Savemore]

Rumors and fake news are the reason why bitcoin have bad image in the public that leads to misinterpretation where the public thinks it is a scam. We cannot blame them if they their own personal view towards bitcoin is scam because it only proves that they are still ignorant. It can fix through proper education, the good thing is every knowledge is now available in all over internet and we can easily access it especially if we really understand the bitcoin. The only problem is the people are lazy enough to fo research and it is the reason why they keep believing in the fake news and rumors all over around the internet.

[Kocret02]

They did not have idea what is the opportunity once they enter to bitcoin because maybe they think bitcoin is scam because of thwat they saw in the news which is a lot of scam happens to the crypto in the past few years ago and we will not blame people for that because they are scared but without doing a research they don't know what is good if they have bitcoin in their lives.

Many people just assume up front without knowing the background of bitcoin, it's usually people who have never been in crypto. so they say bitcoin scam, scam or something. so we can only ignore what people say, because in reality bitcoin is not a scam as many people are talking about

[Genemind]

Bitcoin has been around for 11 years now, with a large ecosystem of exchanges, wallet providers, and apps behind it. There are now many governments recognizing it as legitimate, bringing a large number of investors into it. For just a short amount of time since its inception, I'd say that Bitcoin has achieved extraordinary results. While all of this sounds good, most people still seem to believe that Bitcoin is a scam or not worth their time. For instance, Warren Buffet criticizes Bitcoin telling that it'll become "worthless" over time. It's these negative comments, which make people skeptical about using Bitcoin and cryptocurrencies as serious money for day-to-day payments.

No matter how crypto enthusiasts try to convince people to believe that Bitcoin is legitimate, everything seems to be the same. I'm starting to wonder why most people have this kind of mentality towards Bitcoin? After all, the pioneer cryptocurrency is being traded at legitimate exchanges. Even some governments have been collecting taxes from Bitcoin. But that hasn't changed people's minds about it. What are your thoughts?

We can't deny the fact that despite passing lots of tests of time, there are still people who think of it as a scam. I think one of the main reasons why there are people who don't trust Bitcoin is because most fraudsters and scammers have ruined its reputation before. Lack of knowledge and understanding about its features and advantages is also a reason for them to think of it as a scam. Bitcoin can please everyone but lucky are those who trust and believe in it.

[GDragon]

Rumors and fake news are the reason why bitcoin have bad image in the public that leads to misinterpretation where the public thinks it is a scam. We cannot blame them if they their own personal view towards bitcoin is scam because it only proves that they are still ignorant. It can fix through proper education, the good thing is every knowledge is now available in all over internet and we can easily access it especially if we really understand the bitcoin. The only problem is the people are lazy enough to fo research and it is the reason why they keep believing in the fake news and rumors all over around the internet.

And guess who are the people peddling those ideas? Lazy people who got scammed because they believed about a certain easy money scheme. Its their own mistake but they are blaming the technology for it. They didn't spend some time researching or reading before spending money. Kind of sucks that its very easy for them to spend money than spending time researching.

Those people who are spreading rumors that btc is a scam are the very same people who doesn't even understand btc and crypto.

[sapnu]

Bitcoin has been around for 11 years now, with a large ecosystem of exchanges, wallet providers, and apps behind it. There are now many governments recognizing it as legitimate, bringing a large number of investors into it. For just a short amount of time since its inception, I'd say that Bitcoin has achieved extraordinary results. While all of this sounds good, most people still seem to believe that Bitcoin is a scam or not worth their time. For instance, Warren Buffet criticizes Bitcoin telling that it'll become "worthless" over time. It's these negative comments, which make people skeptical about using Bitcoin and cryptocurrencies as serious money for day-to-day payments.

No matter how crypto enthusiasts try to convince people to believe that Bitcoin is legitimate, everything seems to be the same. I'm starting to wonder why most people have this kind of mentality towards Bitcoin? After all, the pioneer cryptocurrency is being traded at legitimate exchanges. Even some governments have been collecting taxes from Bitcoin. But that hasn't changed people's minds about it. What are your thoughts?

We can't deny the fact that despite passing lots of tests of time, there are still people who think of it as a scam. I think one of the main reasons why there are people who don't trust Bitcoin is because most fraudsters and scammers have ruined its reputation before. Lack of knowledge and understanding about its features and advantages is also a reason for them to think of it as a scam. Bitcoin can please everyone but lucky are those who trust and believe in it.

Yeah that is the truth thing we can't get out of their minds. It is mainly because of the worthless scammers who are actually taking advantages of people who don't still know what bitcoin or cryptocurrency really is. There are some people that are starting and using their own money to try invest here but for some reasons they are being scammed maybe because their knowledge on cryptocurrency or making transaction is not enough. After getting scammed the only thing that comes into their mind is that bitcoin is a scam which is not true, and we all know that. It is all because of the scammers and other people who don't really know what cryptocurrency is.

[Savemore]

Rumors and fake news are the reason why bitcoin have bad image in the public that leads to misinterpretation where the public thinks it is a scam. We cannot blame them if they their own personal view towards bitcoin is scam because it only proves that they are still ignorant. It can fix through proper education, the good thing is every knowledge is now available in all over internet and we can easily access it especially if we really understand the bitcoin. The only problem is the people are lazy enough to fo research and it is the reason why they keep believing in the fake news and rumors all over around the internet.

And guess who are the people peddling those ideas? Lazy people who got scammed because they believed about a certain easy money scheme. Its their own mistake but they are blaming the technology for it. They didn't spend some time researching or reading before spending money. Kind of sucks that its very easy for them to spend money than spending time researching.

Those people who are spreading rumors that btc is a scam are the very same people who doesn't even understand btc and crypto.

They did not know that free money and easy money can make them vulnerable to scammers. Yes there are many scammers in different social media platform and the victims are usually the people who are seeking easy money. There is no easy money because you really need to exert effort and time in order to make gains in a specific investment. Do not also believe in rumors, exert effort in order to know if it is legit or scam.