Why do ordinary people feel afraid of Bitcoin?

[Btcvilla]

Of course this cannot.be separated.from the price of bitcoin which is.too low at the moment.which.makes people feel afraid.of all this, so there.are still many ordinary people who will always feel that they will experience significant.losses which make them.feel anxious.about such.things. This is.indeed.commonplace when the price is.also unstable.and unsatisfactory.for investors.especially among.beginners

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[ziyaaa]

Ordinary people feel afraid of Bitcoin because they are a stranger to this ecosystem. As the system of the cryptocurrencies is totally different from fiat money, people are afraid to lose much money if they buy them. But as long as they get to know really well about these cryptos, things will go on way better for them. They should be taught about this ecosystem. This would help them get accustomed to the digital currencies to come in the future also.

[john_nautica]

It can be said that people are afraid of the things that they are not familiar with, or of the things that they were misinformed about. As per Bitcoin, people know its volatility, and that can be a major thing to drive them anxious and choose not to deal with it. This can be interpreted that the perceived risks that come along Bitcoin, discourage and make people afraid with it. Also, the potential of illegalities that has been and can be made with it can be an additional factor. Nevertheless, accurate information and open mindedness can correct these misconceptions.

[tiCeR]

It can be said that people are afraid of the things that they are not familiar with, or of the things that they were misinformed about. As per Bitcoin, people know its volatility, and that can be a major thing to drive them anxious and choose not to deal with it. This can be interpreted that the perceived risks that come along Bitcoin, discourage and make people afraid with it. Also, the potential of illegalities that has been and can be made with it can be an additional factor. Nevertheless, accurate information and open mindedness can correct these misconceptions.

While it is true that people might be afraid of Bitcoin because of its volatility, is has also been a major reason that drove people to Bitcoin. We are still far away from using it on a daily basis so why would they buy it if not for speculative reasons? Bitcoin is just so expensive now that a lot of people are afraid there investment might lose 50% in value.

Governments can do a lot of things to devalue Bitcoin and if they wanted to. They don't even need to forbid it. They can just make it totally impractical to buy it let alone use it. That is still a risk and once Bitcoin becomes a real threat and the incentive is high enough we will find out what governments will really do about it.

[Erdogan]

Someone told me not long ago: Bitcoin is a dangerous game. It is even possible for some people or groups to take over the blockchain through a majority and destroy the entire mechanism. People don't know they are playing these games.

For a long time buying Google at a high price, Amazon and Apple are both good choices for me.

Yes, there are a lot of stocks there, there are also cryptocurrencies, there are also many bonds and debt instruments.
In the US, there are obviously 9,600 mutual funds (quick Google search)
. The question is, which of the thousands is worth buying.

Just because some or many of the available options are not good investments, it does not mean that the entire asset class is bad.

The prosperity of encryption technology is just like the technological prosperity. They have got a lot of IPOs because of various stupid ideas. Most of these technology companies are stupid and not worth it.
Nowadays, there are many ICOs, most of them are stupid and not worth it.

However, there are still opportunities to realize value.


Also about digital assets. Digital assets have become a reality.
Did you know that Fortnite had nearly $2 billion in revenue last year?
Do you know what these billion users got? Different appearances in the game can give characters different dance moves.
You can play the exact same game without paying any fees.

Ordinary people are usually afraid of everything that is new and incomprehensible to them. In fact, Bitcoin is still an experiment, and there are still many risks that can make things go wrong. These are the reasons why Bitcoin is dangerous to some people. However, I think that the main reason and most visible to ordinary people are simply very large fluctuations in price. With such rapid and large fluctuations in price, for ordinary people investing in Bitcoin is just a lottery and a dangerous game.

[BaeSuzy]

true as you say, lack of knowledge makes people afraid to play in bitcoin, if we continue to learn and understand bitcoin, gradually we will surely love bitcoin, and accept bitcoin, because we know bitcoin has had a very positive impact on us,

indeed to enter this business we must be able to understand bitcoin first. that way we will be able to judge true and false news after understanding it. because sometimes beginners who fail will spread untrue news, and that's because he himself doesn't want to learn first, because their orientation is to want to be successful quickly like other people they hear

Totally agree with both of you. If we really do the research and learn about bitcoin i believe most of them who doing it will love bitcoin and will falling in love with bitcoin. Most of them who afraid with bitcoin i think they just lazy and don't want to be "Curious" to know something NEW in this world. But in the end it comes back to the individual of each person. If they decided not to be curious about something "NEW", then they would forever be left behind.

[willhuber]

I believe that ordinary people do not have even the slightest of idea about what Bitcoin is which is why they are afraid. They are majorly afraid of high price I think and a major portion among the ones afraid are not that much tech savvy or not much related to technology.

[JerryKin]

As much as Bitcoin is a legit platform, one can still get scammed if one isn't careful. I do not blame the ordinary man that has had a bad experience before or the one that believes Bitcoin is a stupid game, what differentiates us really is knowledge. I don't know about anyone else but for me, when I first started investing I was scared as shit also, I just kept learning too.

[Tumanggor]

Ordinary people are afraid of Bitcoin because they get information about Bitcoin from the wrong sources
see how the majority of the media preach the FUD about Bitcoin massively just for the sake of a news

if ordinary people get information about Bitcoin from the right sources like this forum then they will surely fall in love with Bitcoin
to hell with the media that preach Bitcoin FUD to ordinary people

[Tim-BTC]

Because Bitcoin cannot be touched or seen, it is not touchable like gold.
In addition, the media reported negative news about Bitcoin.
People are always afraid of things they don't understand.

[Cat91]

In my opinion, ordinary people think that bitcoin transactions are very risky and there is a possibility of losing their money. They also think that bitcoin is illegal in many countries so they are more afraid of it.

[Saidasun]

People are afraid of what they do not understand and that is one of the biggest problems with Bitcoin. People do not feel compelled enough to research and learn about Bitcoin not at the moment. As Bitcoin continues to rise over its life span more and more people will realize that they are missing out and will do their own research given enough time. At the moment we are just going to have to build up our own reserve and wait for the slow to catch on people to finally invest.

[iTradeChips]

I think it is not really fear that they are feeling. I feel that it is really their lack of interest to invest in what they deem a non-traditional asset. I see people in media reacting negatively to something they do not even researched in the first place. I find it unfair that some media celebs in our country react negatively to something that they don't even know about and I felt vindicated when somebody commented to that media person to stop commenting if you don't know crap about the topic which he apologized then in that manner.

[bakasabo]

People are afraid of it because many of then think that Bitcoin is just a speculative resource that makes people rich (or poor). Part of them think that "they are not traders, they dont all that smart graph trading stuff". They visualize trading based on the movies. Trading crypto to them is like stock trading in a room with traders shouting, lots of screens and etc. But when they realize what blockchain is, how Bitcoin is used in it and all technology behind it, they get totally confused.

They expect this:



But they get that:

[tiCeR]

People are afraid of it because many of then think that Bitcoin is just a speculative resource that makes people rich (or poor). Part of them think that "they are not traders, they dont all that smart graph trading stuff". They visualize trading based on the movies. Trading crypto to them is like stock trading in a room with traders shouting, lots of screens and etc. But when they realize what blockchain is, how Bitcoin is used in it and all technology behind it, they get totally confused.

They expect this:



But they get that:

But we shouldn't forget that it is indeed a highly speculative thing to get into Bitcoin. Lots of people know someone who lost money but also someone who made money. I can understand that many are afraid of a crash like in 2017. I know some guys who frequently ask what they should do. They kind of want to get involved but are afraid of crashes a lot.

[bakasabo]

But we shouldn't forget that it is indeed a highly speculative thing to get into Bitcoin. Lots of people know someone who lost money but also someone who made money. I can understand that many are afraid of a crash like in 2017. I know some guys who frequently ask what they should do. They kind of want to get involved but are afraid of crashes a lot.

Yes, speculative. But that is what most of the people see, skipping whole technological part. People see only small part of the Bitcoin technology and their knowledge is narrowed to "Bitcoin-money-probably a pyramid". They dont know about the possibilities of blockchain and its usage.
Like you said, their remember how Bitcoin crashed, but they dont even realize how useful blockchain technology is nowadays. They are afraid of loosing money and they are not experienced with long term holding.

[A62662]

Could it be because of if you buy it at any given pricepoint, it can drop some 80%, giving you a massive loss.

[tiCeR]

But we shouldn't forget that it is indeed a highly speculative thing to get into Bitcoin. Lots of people know someone who lost money but also someone who made money. I can understand that many are afraid of a crash like in 2017. I know some guys who frequently ask what they should do. They kind of want to get involved but are afraid of crashes a lot.

Yes, speculative. But that is what most of the people see, skipping whole technological part. People see only small part of the Bitcoin technology and their knowledge is narrowed to "Bitcoin-money-probably a pyramid". They dont know about the possibilities of blockchain and its usage.
Like you said, their remember how Bitcoin crashed, but they dont even realize how useful blockchain technology is nowadays. They are afraid of loosing money and they are not experienced with long term holding.

But in a sense that probably applies to most people even outside of crypto. If somebody decides to invest in Tesla, what do you think how many people have a substantial idea about all the specialities involved when it comes to electric cars? Or are they mostly following the buzz from the media? Even I learn new things about Tesla on a frequent basis although I do quite some research before making investment decisions. Tesla is not Coca Cola, and crypto is not Tesla.

[clint25n]

maybe they will be very influenced.by some buzzers.who say this investment is.not as good as they think.that's what will make many people feel afraid.of these.opinions that can.make them.lose their money that has.been invested.in the crypto world, maybe This reason is.also very reasonable.in the minds.of ordinary.beginners, because they are afraid.of not succeeding.in this.business

[Bitcoin Seller]

Someone told me not long ago: Bitcoin is a dangerous game. It is even possible for some people or groups to take over the blockchain through a majority and destroy the entire mechanism. People don't know they are playing these games.

For a long time buying Google at a high price, Amazon and Apple are both good choices for me.

Yes, there are a lot of stocks there, there are also cryptocurrencies, there are also many bonds and debt instruments.
In the US, there are obviously 9,600 mutual funds (quick Google search)
. The question is, which of the thousands is worth buying.

Just because some or many of the available options are not good investments, it does not mean that the entire asset class is bad.

The prosperity of encryption technology is just like the technological prosperity. They have got a lot of IPOs because of various stupid ideas. Most of these technology companies are stupid and not worth it.
Nowadays, there are many ICOs, most of them are stupid and not worth it.

However, there are still opportunities to realize value.


Also about digital assets. Digital assets have become a reality.
Did you know that Fortnite had nearly $2 billion in revenue last year?
Do you know what these billion users got? Different appearances in the game can give characters different dance moves.
You can play the exact same game without paying any fees.

People are usually afraid of obscurity. All my surroundings don't understand economic issues and consider all financial instruments(shares, bonds, cryptocurrencies) to be deceptions. And all these stories, when people lose their money only worsen the situation.
They also say that Bitcoin is too dangerous and people who invest in it just waste their money. As soon as people learn about Bitcoin and Blockchain they will definitely change their opinion.