Why do ordinary people feel afraid of Bitcoin?

[Coinsfera]

The size of the cryptocurrency world is over $ 194.81B. People's interest in these coins is increasing day by day. The reason some people stay away from Bitcoin is price volatilityBTC. Such rapid changes are not normal in any portfolio. But, there is a new technology here. People should be ready to invest in this despite volatility. For this, first of all, it is necessary to have the financial potential to prepare itself even for important losses. In short, everyone is aware of Bitcoin technology now. The only thing that stops people should be the high price.

[1714110070]

1714110070

[rodskee]

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.

In this very part i automatically believe that you are referring to a No Knowledge in Bitcoin at all , calling this as ' A Game" is a total Bullshit i believe.

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

Well that is a Prerogative that must respect.

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.

Its for you to find out.

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

Bad of one is not a bad of everyone , yes it can effect but not totally will become the same.

[jamesde]

Crypto news is very controversial. Many individuals are also conducting scam campaigns to attract new users, and for some nations, the regulations are still in progress. The new traders are confused by all this.

Another thing is the complexity of buying bitcoin or altcoin - verification of accounts, refusal of payment methods, security of wallets, etc. For everything, it takes in depth research. Even if you have a dedicated first time buyer team guide for beginners, it's still not enough.

[Rexler]

When your just an ordinary person and don't have any idea what is bitcoin it's just so difficult to believe especially if you don't have any experience in digital transactions.

This is so true, an average Joe will definitely stay away from something they have no idea about, especially when it's someone who has little or no idea about the internet, such person will be afraid to invest in any online business since it's not a physical establishment which they can see, they would surely feel its a scam since its on the internet.

Most of the time like some of my friends that do not believe in bitcoin cannot believe that you can actually earn that kind of profit by just investing in cryptocurrency.

I believe they are not that exposed to things on the internet, that's why they feel online businesses are nothing but scam, becuz of several stories they have heard.

[Kong Hey Pakboy]

BTC is still magic internet money for the ordinary people. They dont understand how it work and why they should use it

Yes. Lack of knowledge is one of the roots why people fear a new invention or innovation. Also, if they are not interested to learn about it, there's nothing much we can do. But maybe at least if they can know the basics of bitcoin and crypto, I guess that would be fine so they don't have misconceptions about it. Also, if you will make yourself available for the people you know that is interested in bitcoin, then go ahead and teach them so that they would know bitcoin is not some scam network or anything, because it's not.

[jostorres]

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.

Yes, there are so many investments out there and many of them are bad, but some of you make that mistake of investing in projects that can’t be trusted or projects you don’t know anything about. If you don’t believe that a project is going to be worth it or successful, why not just forget about it and go for something else instead of buying it? It’s just like you have mentioned that there are so many ICOs in the market, why would you be investing in them when you know that there is Bitcoin which is very safe to invest?

There is also ethereum and some good and reliable Defi projects that are here stay and you can invest in them, instead of some projects that you know nothing about.

[ninabobo]

That is an extremely regular thing thinking about that bitcoin can be supposed to resemble an air pocket, it can fly whenever. call it when the market rose to the period of 2017, at that point unexpectedly fell low in 2018. Such quick value developments make normal individuals hesitant to purchase bitcoin, not to mention put resources into huge amounts.

[ukw]

It is understandable that many people are "afraid" of Bitcoin and cryptocurrencies.

Mostly people are afraid of things that are not very clear to them and have a great fear of taking risks. But there is this fear when it comes to investing in everything. People instinctively first look for the hidden reason in a project and how it can take their money. Isn't this a pyramid or a scam, etc.

If most people (ordinary people, as you call them) were not afraid to invest and follow their dreams, now the world would be a radically different place.

Everyone prefers their comfort zone to the unknown ....

[Yatsan]

It is simple. Ordinary people do not duly understand and do know everything about Bitcoin. It is a nature of human to get afraid of something they do not know and understand and they are just simply ignoring the choice of exploring or taking risk to better know such thing that is new or out of their comfort zones. Also, ordinary people most of the times do tend to listen on other people's opinion which are clearly not that knowledgeable about Bitcoin making them afraid of trying because they are thinking that they might get into the same fate like the other people experienced. Ordinary people are those types that are afraid of risk taking for it seems they are looking at the picture of advance thinking that it might not be worth it even if they are still not trying.

[serjent05]

Ignorance, fear, and distrust are among the reason why people feel afraid of Bitcoin.  It is a natural reaction of people who do not know anything to be afraid.  Aside from that, the rampant appearance of scam companies that exploits Bitcoin's decentralized system brings trauma and distrust to people.  What worst is, people tend to believe bad rumors without verifying them, making them imagine things that are actually not the case.

[emmybd]

It is true that a lot of people are suspicious and feel scared about bitcoin. The people who have got no technological background, it will be difficult for them to feel safe with bitcoin, as they can't see it. On the other hand, they can keep paper money in their pocket, so they feel safe and confident in dealing with it. Also, as many governments are against it, so they feel that the law enforcement agencies will take action against them if they deal with bitcoin.

[ecnalubma]

It is normal that most people had dilemma on things that they don’t understand specially Bitcoin. When I first heard of Bitcoin in 2013 I thought it was really complicated and that it was utilise by different kinds of criminals. The bad impression made most people stay away from, even up to this day there are still lot of people that believe in this technological marvel.

[acquafredda]

It is simple. Ordinary people do not duly understand and do know everything about Bitcoin. It is a nature of human to get afraid of something they do not know and understand and they are just simply ignoring the choice of exploring or taking risk to better know such thing that is new or out of their comfort zones. Also, ordinary people most of the times do tend to listen on other people's opinion which are clearly not that knowledgeable about Bitcoin making them afraid of trying because they are thinking that they might get into the same fate like the other people experienced. Ordinary people are those types that are afraid of risk taking for it seems they are looking at the picture of advance thinking that it might not be worth it even if they are still not trying.

Yes, bitcoin requires people to make those five or so extra steps to get out their comfort zone in most of the areas they try to take for granted as they are. It is not easy to recognize that the money we have in banks it is not ours in the first place but that is the bank's money. Also, it is not easy to understand that you do not need to rely on a third-party to make sure that bitcoins move from A to B without a clearing house.
It is that and I could go on forever.

[Rruchi man]

 Bitcoin is a dangerous game.

Some reasons why one will consider bitcoin as dangerous gamble is because;

(1) The ordinary man, the common man that goes about every day hustling just to survive is very careful and sometimes too calculative of where he puts his money and what he uses his money for. Because of this over calculativeness and over caution not to take any risk, most remain poor all through out their lives.

(2) Another reason is no proper education on the prospects in bitcoin and cryptocurrencies. Some speak without even knowing what it is. Some have made hasty conclusions in their mind about it and are not giving any room for there to be any form of enlightenment.

(3) Another reason why some may still consider bitcoin as a dangerous gamble os because of past experiences. Some have been victims of one sort of fraud online or the other. Some have written offf anything digital that they cannot see. For this purpose, some still prefer fiat currencies.

[MWesterweele]

In as much as knowledge is power; information is power. This is why most people feel bitcoin is some extra ordinary stuffs because they have little knowledge about it. Some people also look at bitcoin from the government point of view (illegal) and try to deviate away from it due to fear or panic.  But believe me, as adoptions spreads and people continue to learn about the benefits and fundamental advantages of bitcoin; the more they love it and want to hodl some

That is how powerful having the idea of what this is all about, about thatn things or whatsoever. I am also an ordinary man but i didn't afraid of Bitcoin, well its just because i have an idea what bitcoin is and now it plays a significant role in the crypto world, dominating the market in its high market value. People only get afraid of bitcoin because maybe its their first time to encounter such kind of name or even its their first time encountering cryptocurrency.

[imstillthebest]

no one can steal blockchain but why will they steal or manipulate it when they can manipulate btc to have a financial advantage .
ordinary people feel afraid in btc because they think that they are ordinary and less knowledgeable but anyone can go from ordinary to extra ordinary if they want to .
we that already knows btc were once ordinary but being ordinary is boring and we feel that our lives cant improve

[pinggoki]

Maybe it is because those normal people doesn't have any chance to invest in bitcoin? Meaning they don't have the budget to buy and the thing is that they are afraid to lose because if they lose they can't buy back again, that's what I think the main reason why normal people are having doubt or scared on bitcoin meaning they don't have room to lose when they enter bitcoin. Another thing is that the lack of knowledge that they have because knowledge is power and this power will give you the things that you want, what I am trying to say is that they doesn't have enough knowledge on what bitcoin is.

[Twinkledoe]

In as much as knowledge is power; information is power. This is why most people feel bitcoin is some extra ordinary stuffs because they have little knowledge about it. Some people also look at bitcoin from the government point of view (illegal) and try to deviate away from it due to fear or panic.  But believe me, as adoptions spreads and people continue to learn about the benefits and fundamental advantages of bitcoin; the more they love it and want to hodl some

That is how powerful having the idea of what this is all about, about thatn things or whatsoever. I am also an ordinary man but i didn't afraid of Bitcoin, well its just because i have an idea what bitcoin is and now it plays a significant role in the crypto world, dominating the market in its high market value. People only get afraid of bitcoin because maybe its their first time to encounter such kind of name or even its their first time encountering cryptocurrency.

Educate yourself what is happening around you, not only about blockchain tech or cryptocurrencies, and you will not be afraid knowing other things. As mentioned, knowledge is power. The more you know about things, the less you are hesitant to touch them. If people will educate themselves about crypto, I don't think they will be afraid. Sometimes, ignorance is the reason why people is hesitant to new technology.

[CarnagexD]

People fear what they cannot understand, and it is the case with bitcoin. They don't know how it works, how it has value, how to obtain one or a combination of each of these aforementioned reasons, and since they do not know, they are staying away from it. But with proper information and encouragement, these people should be swayed to invest.

[uneng]

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.

Do you mean we can play the *bitcoin game*  successfuly making profit and even starting for free while others are going to play the same game, but losing money?
I think I didn't understand very well your comparison about Fortnite and bitcoin investment.
Anyway the main reason people are afraid of bitcoin is the high volatility and loss chance over their investments, without any doubts. With so many ponzi schemes and other traps around people tend to not believe in investments besides those guaranteed by the banks (which are unprofitable when put against inflation).