Why most people think Bitcoin is a scam?

[lepbagong]

because people think that bitcoin is not a real thing. they doubted bitcoin because it was virtual and untouchable. it should be removed from the scam stigma if bitcoin becomes a scam item. this is one theory of distrust of people towards bitcoin

actually the root cause of the problem is that people think bitcoin is a scam because of the lack of understanding they have in their minds, for people like this they really need an explanation that is very well accepted and with great patience. because crypto is clearly not real and the simplest explanation is what we receive from every transaction in the form through the savings we have that has increased because we are working on bitcoin. then it will be easy to explain further because the name relationship with money is very crucial and people need it.

[jademaxsuy]

because they do not really know what bitcoin is all about and they are just hearing news about bitcoin related scam and not bitcoin directly. This is the problem with those people tha had say so many things when even if you will going to ask them what is bitcoin they can't answer.

Lack of education. This is the real problem with people nowadays. They get fake information and think of it as true. It so sad that bitcoin was being drag to scam issue and also being used by the abusers to scam other people.

[BChydro]

actually the root cause of the problem is that people think bitcoin is a scam because of the lack of understanding they have in their minds, for people like this they really need an explanation that is very well accepted and with great patience.

The best option is to ignore these naysayers rather than trying to change their mindset. If anyone is interested in learning about the crypto currency market they will spend their time to research about the market and everything is available online and people who are not interested would catch all the negative aspects they hear from the media and hence they are not interested they would care less about learning about them.

[taufik0911]

What do you mean by "Most People" ?? Do you refer to most btc users or to people in general?
Your opinion seems not to be based on a valid reason.
In general, negative comments came from govs and bankers who are negatively infected by bitcoin. However, many of them start accepting it and even legalise it.
Bitcoin is unstoppable and maintained by its users, not like traditional currencies controlled by a single authority. And if we compare it to Dollars for instance, dollar currency is the biggest scam in humain history, although we are stucked in and we can't really change it.
Even the one you mentioned doesn't confirm that bitcoin is a scam when he says "will become worthless", which is a general prediction without any solid reason.

yes it is baseless, maybe 3 in 10 people think so but bitcoin only takes time to accept
I think why some people think bitcoin is a scam, because they don't buy bitcoin from a legal and trusted place plus some people use bitcoin to commit fraud, when someone is tricked they will talk to others so that it will create a negative mindset towards bitcoin. this is the power of speech

[South Park]

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

Forget about bitcoin for a moment and lets think about fiat, how many people actually know how fiat works? Very few, in fact most people do not really understand how the economy works and if they don't do that then they are never going to be aware why we need something like bitcoin and why it has so much potential, as long as most people are doing fine in the current system people are not going to ask questions, this is why I always thought that we need a huge economic crisis for people to actually adopt bitcoin massively.

[Abiky]

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.

Good point. People who often experience a bad investment, think Bitcoin is a scam. But it's all a misconception about the pioneer cryptocurrency. Once they know that no one controls Bitcoin, they'll stop thinking that it's a complete fraud. I've seen how people believe Bitcoin is controlled by a single entity (like developers), when that's not largely the case. It's the common mindset in the mainstream world, since we've been accustomed to Fiat's level of centralization for a long time. I think that with due time, people will be able to distance scams from Bitcoin itself. The crypto community needs to spread the word out there about Bitcoin's benefits to the mainstream world. With proper education, people will learn that scams are not directly tied to Bitcoin itself.

Nonetheless, I think Bitcoin has reached a point where scams have little to no effect over its reputation in the mainstream world. While most people still think it's a scam, they'll get "over it" once they realize the true benefits of Bitcoin over Fiat. The ever-rising popularity of "De-Fi" and Stablecoins should leave Bitcoin in the headlines. Already in this pandemic, people are starting to see Bitcoin as an alternative to Gold. With heavy-handed regulations, scams will be reduced to a point where they'll no longer pose a threat to Bitcoin. It'll up to the people themselves to take responsibilities to protect themselves against undesired situations in the crypto/Blockchain space. Just my thoughts

[ufaiz50]

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?

Maybe because Warren Buffets think from a business perspective on bitcoin, the bitcoin community plays an important role in the market price of bitcoin. In my view of cryptocurrency not only bitcoin, that cryptocurrency has very capable technology behind it, so I have more confidence in cryptocurrencies in the future. If you take it from a bitcoin point of view, bitcoin is more towards assets than daily transactions, because the price is very high, the feeble is also quite high for small value transactions. I'm not sure how to deal with people who don't believe in from the start and see bitcoin as a scam, it would be better for me to leave them alone as long as there is no controversy.

[Twinkledoe]

There is a lot of people around the world who are not familiar with bitcoin and for this reason they call bitcoin as a scam coin.

The most funniest part of it is that when you try to convince such people and you give them analysis on how well you are doing good in the crypto space they will tell you that bitcoin will soon be devalue, lots of clueless people out there who still believe bitcoin is a scam. Majority of them bought bitcoin through some mlm schemes, after being scam they label bitcoin scam because scammers are exploiting from Bitcoin buyers as they know the value of it rising

Ignorance is the answer why most people think that bitcoin is a scam. So even if you explained it and they have no basic knowledge about crypto, they thought that you are saying gibberish things. So once they see that someone is doing good with bitcoin, at first they will think that you got lucky, but if they are curious how did that happen, they will start studying bitcoin and crypto, and that's when they will find out that bitcoin is not a scam, only those people that creating crap projects are scammers, but the concept itself is not.

[online73]

Hey. Most people are simply indifferent to the dollar exchange rate, and whether or not Bitcoin is a scam, they do not care either. Most people on the planet find it difficult to buy even a small fraction of Bitcoin. These people only hear what the allegedly "rating" media are broadcasting, and they only broadcast negative news about cryptocurrency. Ask the miner who mines coal in the mines or the janitor who sweeps the yard every morning - basically they will say that they do not care whether they will be paid in dollars or Bitcoins, the main thing is that with this money you can feed your family. It is very easy for people to hang labels, but when they become more familiar with the topic of Bitcoin, these negative labels will disappear by themselves.

[DabsPoorVersion]

Hey. Most people are simply indifferent to the dollar exchange rate, and whether or not Bitcoin is a scam, they do not care either. Most people on the planet find it difficult to buy even a small fraction of Bitcoin. These people only hear what the allegedly "rating" media are broadcasting, and they only broadcast negative news about cryptocurrency. Ask the miner who mines coal in the mines or the janitor who sweeps the yard every morning - basically they will say that they do not care whether they will be paid in dollars or Bitcoins, the main thing is that with this money you can feed your family. It is very easy for people to hang labels, but when they become more familiar with the topic of Bitcoin, these negative labels will disappear by themselves.

To make it simple,

"Those people" do not have enough knowledge about bitcoin, they simply believe what the social media or any source of news say about it. They do not even experience it because of different reasons they have. They just don't care about it and believe what they heard because they lack knowledge about it.