Why do people avoid bitcoin?

[AicecreaME]

Even now people get interested on the traditional form of investments like gold and other shares. People always come with the justification, bitcoin is high risk involved. Another thing, people aren't much aware of the cryptocurrency network and it's goodness. Right now the network experienced a big change in the level of adoption looking upon the growth happened this year.

More and more ads are getting displayed through different sources too making more people know about bitcoin. In the falling days we can expect more people getting into bitcoin than avoiding it.

I agree.

For some additional reasons, people are still ignoring Bitcoin while others like rich people and influential ones invest on it already, it is because I think it's not always you see in TV or read in newspaper, maybe it'll show up on TC but it is a bad news for Bitcoin because it's been used to a Scam. Maybe their mindset is that Bitcoin is a scam since the majority of the population are still not using it.

Lacking of education in cryptocurrency and courage makes them doubt Bitcoin no matter what you say.

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[Abiky]

Bitcoin did not prove to be a good thing in 2017-2018, as many people lost money after the bubble inflated... So now people avoid bitcoin because they are afraid that history will repeat itself (and it will! )...

Exactly. The main reason why people avoid Bitcoin is because the same has unstable prices on the market. One day you could have thousands of dollars worth of BTC, only to find that it's worthless in a blink of an eye. Wild fluctuations in price disqualifies Bitcoin from being used as digital cash. Bitcoin works better as a store of value than anything else. Besides price volatility, negative comments about Bitcoin by governments and the mainstream media, has made people think twice before joining the crypto revolution. Hacks and scams, makes matters worse as they damage Bitcoin's image in the mainstream world.

At least, Bitcoin's decentralized and open source nature will keep it going for years on end. It doesn't matter if most people avoid Bitcoin, as long as there are a number of supporters behind it. The more Bitcoin grows in development and innovation, the better it'll be for its prominence in the mainstream world. In the future, it's expected that a respectable number of people use Bitcoin for their own benefit. Of course, Fiat currencies will always have a higher number of people using it. But Bitcoin will still relevant as it becomes a force to reckon with. Just my thoughts

[Renampun]

I do notice that some people naturally don’t allow bitcoin in any of their daily transactions even when it faster and easier, they still don’t prefer using it, I have noticed this a lot, Some classes of human,Sometimes when they are to receive money from another country like international transfer sometimes it takes 2 3 days to arrive,They will advise them to use bitcoin and they still don’t accept it even it faster and easier. Now how come we make bitcoin come to people.

I'm sure they don't like it but are afraid to use it...
education about Bitcoin is very important, especially for those who never know what Bitcoin is. I just might not dare to make large transfers with Bitcoin if I do not know what Bitcoin is and also the possible obstacles that will occur.

[fishbonez11]

I do notice that some people naturally don’t allow bitcoin in any of their daily transactions even when it faster and easier, they still don’t prefer using it, I have noticed this a lot, Some classes of human,Sometimes when they are to receive money from another country like international transfer sometimes it takes 2 3 days to arrive,They will advise them to use bitcoin and they still don’t accept it even it faster and easier. Now how come we make bitcoin come to people.

I'm sure they don't like it but are afraid to use it...
education about Bitcoin is very important, especially for those who never know what Bitcoin is. I just might not dare to make large transfers with Bitcoin if I do not know what Bitcoin is and also the possible obstacles that will occur.

When People started to be well informed and educated about Bitcoin, they will start to realized how this things work. The sad reality is that, we've been hearing bad news about bitcoin in the mainstream media. Bitcoin appears to be scam with the news we are hearing. There are few mainstream platforms that is educational about bitcoin. If Bitcoin will start to be included in education curriculum, there will be right impression and view about the use and the potential it has for the future.

[New_order]

I do notice that some people naturally don’t allow bitcoin in any of their daily transactions

Totally wrong. You misunderstood it. People can not allow or disallow bitcoin and bitcoin transactions. Miners do it because bitcoin is operated by Proof-of-work and transaction will be confirmed by miners, not a person.

even when it faster and easier, they still don’t prefer using it

Bitcoin block time is about 10 minutes for one block. Sometimes it can be longer or shorter than 10 minutes but in median, block time is 10 minutes. When you make one transaction, the waiting time to see it gets first confirmation will depends on the fee rate you set up for your transaction and the mempool status. If the mempool is clear, with the same rate, you can get faster transaction than when mempool is loaded a lot. Check mempool status and see my guide for more explanation

Second-layer solution as Lightning Network can bring much faster transactions but development pace and adoption are still limited.

I have noticed this a lot, Some classes of human,Sometimes when they are to receive money from another country like international transfer sometimes it takes 2 3 days to arrive,They will advise them to use bitcoin and they still don’t accept it even it faster and easier. Now how come we make bitcoin come to people.

As said above, the speed of confirmation depends on the fee rate you use. If the mempool is stucked and you use fee rate at 1 satoshi/(v)byte, your transaction can be stucked for days or even 2 weeks before difficulty on the network was readjusted and mempool status becomes better.

Reasons to use bitcoin, IMO:

• Be your own bank.
• No one can freeze your bitcoin
• A fixed total supply, deflation over time (after each 4-year halving, block rewards will be halvened)
• Decentralization

Note that you need to use non-custodial wallets (Bitcoin Core, Electrum) to be your own bank.

At first I thought no one can trace bitcoin but I was wrong, now your address can be blacklisted if your assets aren't clean or if you are into something illegal, if users can change bitcoin to fiat without any verifications is what I call true decentralization

[Pokapoka124]

They simply don't understand the tech. It makes no sense to invest in something you do not understand. I feel a lot of newbies in the crypto space have a wrong attitude toward bitcoin, they see bitcoin as a get rich quick scheme and they don't see the future of the coin. First do your research, learn and understand the basics of blockchain technology.

[XavierLaurent]

Slow speed compared to Visa/MasterCard, lack of infrastructure, complicated to general population, very volatile.

[Coinsfera]

It is a very interesting subject indeed. People invest money in things like cell phones, clothes that were old in a few days without thinking. But when it comes to cryptocurrencies, everybody says it's a fuss. Perhaps, although Bitcoin is safe, it is not possible to take legal action when there is any problem that may arise because it is not recognized in the legal framework. If this is the problem, it's easy to fix. It should not be let go of caution. Do not share your Bitcoin address on public platforms, different websites.

[Becky666]

Many hacker and scamer involved in bitcoin currency. Bitcoin is digital currency so many people don't know about bitcoin. Bitcoin is high risky because it price can be high increase and decrease in a day.

As a new technology this was bound to be in motion, there are people out there that don't still believe that Bitcoin isn't a scam becasue of series of stories they are be feeding with on the internet. Hackers still hacks cards or online information when victim system are be compromised, so, this hack and scam has be into existence from the errand of analog, so, that shouldn't be reason why interested individuals will or people will see to avoid Bitcoin IMO.

[VDraci]

In 2018 I tried to involve many people into Bitcoin and crypto but only 4 friends decide to listen to me, people don't like taking risks, some don't even want to lose a hair on their head, it's why many people don't grow in this life, online investment is high risk investment but also the fastest life changing investment, changes only come to those who are fully ready for it and whatever costs

[Rishabh riyz]

I do notice that some people naturally don’t allow bitcoin in any of their daily transactions even when it faster and easier, they still don’t prefer using it, I have noticed this a lot, Some classes of human,Sometimes when they are to receive money from another country like international transfer sometimes it takes 2 3 days to arrive,They will advise them to use bitcoin and they still don’t accept it even it faster and easier. Now how come we make bitcoin come to people.

according to me the main  reason would be the lack of  knowledge about crypto currencies like how to store them, where to store them, transaction time etc., they fear that it might be risky because of the fluctuating value and might get them in loss,
BTC would not be popular in your country and people would fear that they would not be able to use them and would just have to store them. even in my region no one knew BTC before the bubble, now even when they know what BTC is most of them don't even know what is BTC wallet and wallet address .

[Zilberia]

Probably, most people are afraid of the unknown. Bitcoin as an economic asset is still not fully discovered. His price doesn't rely upon anything and the BTC-market is pretty volatile. It makes a price a bit harder to predict.
Blockchain systems and Bitcoin have a lot of advantages compared to fiat and we can make our life much easier with these technologies. I think we will come to understanding and global using of bitcoin and other cryptocurrencies in common life in the next 5-10 years.

[thesmallgod]

It might be fast but still not the fastest means of sending money. However, different countries have varying rules as regard to transaction limit, types of transaction etc. Currently in my country, it is very hard to be able to make international transaction by paying using your debit cards. They are mostly rejected except you open a domiciliary account and make payment with the card. When you want to send money through bitcoin you need to consider the acceptability and the ease to which the person you are sending it can exchange it to the local currency. Again, most banks don't like crypto because they see it as a rival. If they discover that the money coming into your account is indirectly from crypto related services, your account might be flagged. This and many other things are the reason people don't consider using crypto as alternative payment means

[vaultman]

First of all, there is no need to introduce legislative acts that will in any way restrict the use of bitcoins, thereby scaring off potential users. Bitcoin itself is gradually entering circulation among people who did not know what it is and how to use it yesterday. In my opinion, the governments of the countries do not welcome the use of bitcoin, it is only thanks to a few private companies that bitcoin is gaining more and more popularity every year. If every day bitcoin was advertised in the same way as banks and other financial institutions are now advertising, then the number of bitcoin users would grow many times over.

[eucalyptus]

I don't think that people mostly avoid. They don't have enough knowledge and mostly people who invest in Bitcoin just want to earn money. Volatilite is very high and they think that they can be rich some time. They don't care about its technology. And also firstly many people should accept Bitcoin as a payment method. Then if it is accepted by governments and many people then we can see the change.

[Vaskiy]

No user avoid bitcoin once after experiencing profit out of it. Most of the time the misunderstanding about the cryptomarket and the illegal activities taking place associated with bitcoin makes people have a negative opinion over bitcoin. This at times make people avoid the usage of bitcoin, but such persons are very low now. The present generation learn and does it with perfect understanding.

[DECABEATZ]

people are afraid cause its not centralized its not recognized by banks/government. they trust in the banks and governments to much to control run their lives. Good example is look at all the idiots wearing masks!!! They do nothing and are bad for your health. as long as the media/government says it works and you should and have to - people will do it cause they are ignorant and are to lazy to do their own research.

[panganib999]

No user avoid bitcoin once after experiencing profit out of it. Most of the time the misunderstanding about the cryptomarket and the illegal activities taking place associated with bitcoin makes people have a negative opinion over bitcoin. This at times make people avoid the usage of bitcoin, but such persons are very low now. The present generation learn and does it with perfect understanding.

I agree. Most of the peopletoday doesn't avoid bitcoin but the reason why they are like getting away with it is that they aren't have enough understanding on its purpose and thing. Bitcoin is a big thing today, most of the people who are mining it and earning some profit out of it will definitely disagree to this question. I can say that bitcoin more likely pull or attract users on the fact that it can give you good earnings. But the most difficult part of it is to understand the whole concept of it. While others look bitcoin as a "earnings" or simply money that is digital apperance, others those who have deep understanding on it look it as an opportunitu in life. In bitcoin, you don't need actually to invest a lot of money but you need to invest a lot of time in able for you to consider and understand things to avoid some difficulties and have a good income out of it.

[bryant.coleman]

No user avoid bitcoin once after experiencing profit out of it. Most of the time the misunderstanding about the cryptomarket and the illegal activities taking place associated with bitcoin makes people have a negative opinion over bitcoin. This at times make people avoid the usage of bitcoin, but such persons are very low now. The present generation learn and does it with perfect understanding.

Legality of Bitcoin and concerns about the usage of Bitcoins for illegal purposes are some of the main reasons why a lot of people avoid Bitcoin. Other issues are the high number of ponzi schemes which make use of Bitcoin, and the market volatility, along with the difficulty to trade and store cryptocurrencies. This forces a large section of the population to ignore Bitcoin and to rely on more traditional forms of investment.

[chichidori]

Because of its volatility and some exit scams done by small exchanges but most are those that have basic knowledge of it and see it only as an investment plan, some avoid it because they do believe that the price is being manipulated by the elite holders and is just waiting for the right price to exit and rebuy what ever the reason is bitcoin is not for everyone and only those who believed and take time to learn about it can understand about its future.