Why do ordinary people feel afraid of Bitcoin?

[Willitivity]

Because they don't understand how it works. Many people do not know how to use a PC, so this is not at all surprising.

You're just on point with your reply. That is the biggest reason why most people haven't invest or buy their first bitcoin yet. It's not because they want to participate in the digital economy but the fact that they do not know much about how it works is a stumbling block one which would take plenty time to convince them about Bitcoin.  They don't even know that it's possible to send and receive money anywhere in the world using Bitcoin. We are in a gradual process. Soon majority of the people on it would use Bitcoin.

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[uray]

The majority of people are afraid of most investments, shares, bonds and bitcoin, and only trust bank accounts that pay interest.

What is there to be afraid of shares bonds and bitcoin. People are ignorant on these market and you need to have a level of intelligence to understand the numbers game and people who does not have that nor have the intellect will find excuses on how to overcome that as if it is only possible with trust bank to give a safe return, if you are getting afraid you need to be against the inflation and the recession as well .

[cyriljundos]

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 who doesn't know about bitcoin is afraid of investing, they told that bitcoin is a big scam or other people said that bitcoin cannot be trusted. bitcoin proved them wrong, bitcoin has been amazing in 2021, many investor and big company are engaging and investing today. ordinary people not knowledgeable about bitcoin and how to earn good money in this crypto industry.

[UsernameCrypto]

My story is I'm not afraid of cryptocurrency, however I'm afraid of the potential repercussions of buying/trading it due to the positions taken by banking institutions.  For example I can see the logic in banks preventing the use of credit cards for retail customers buying crypto, however I'm seeing quite a few stories of people having their bank accounts locked, mortgage applications refused etc when it's discovered they hold or trade crypto.  Whilst I understand there are ways to circumvent this, my further concern (e.g. if I apply for a remortgage at some point) is this being discovered and my application being refused.  We're living through transitional times where banks are trying to prevent their customers from buying/trading crypto (done to protect the customer from themselves they say) however I think a large part of this is banks obviously want to protect the status quo (fiat etc) and they don't know how to react to all this crypto stuff.

So my fear isn't of the actual products, it's of what the repercussions could be for me with regard to fiat banks and being considered a safe / low risk customer.

And it's frustrating me as I think it will ultimately stop me investing

[Kelvinid]

Ordinary people or does who are angry they do not purchase Bitcoin when the price was damn low.

I have seen a lot of people procrastinate about buying Bitcoin and when it is all over the news about it price increase, this same people start giving a hundred and one reason why it fail so badly.   

They mostly think about scams and having doubts inside. Some take the risk as they opened up their mind but many were still knowing nothing about this and keep ignoring. We can't blame them either for not improving their lives as they just ignore this great opportunity.

If they only had welcoming crypto before when the price is cheap, they can surely see the difference happening to them. But somehow they keep themselves blind, it sounds sorry for them. I know they can afford to do it but they are blocked by their negative thinking cursing themselves not to invest any more in crypto.

[Pierre 2]

Since I first heard and started reading about Bitcoin, my main personal concern was if it was scam or if i was gonna all lose my money. When I get used to Bitcoin and other altcoins I started telling about it to regular people like friends and family members. Most of them just didn't believe it, they told me that it might be ponzi etc. It just couldn't get their attention. But when it reached to 10000 usd first time, people started calling me to ask how they can buy it etc.

In summary I think many are worried to lose money and don't know how to use wallets, exchanges, passwords, authenticator apps etc. People who were scared most never even invested in regular stocks market.

[Mr.sprin]

people are afraid of bitcoin because they are afraid of losing money and they don't understand about bitcoin so they conclude that bitcoin can lose money, if they understand about the world of crypto maybe they will not be separated from the world of crypto.

[ChiBitCTy]

I work in finance and I can tell you that "ordinary" people, or ie the masses, are afraid of investing in anything and everything for the most part.  A good chunk of people are "afraid" because they simply do not understand and they are often too lazy to do any homework for themselves so when they hear people tell them " oh watch out for this, or watch out for that" then they do.  It amazes me how many people take financial advice from their co-workers and or family members who have no financial background what so ever.

[jasonjm]

These so called "ordinary" people are those who have limited income and savings while the risk involved in Bitcoin investment is way too high. These people have there reservations about any type of investment i.e. property, bonds etc. One of the reason could be the self made crypto influencers who know a little about trading and gives trading signals and people lost their money by following his directions.

[angrynerd88]

Each individual have claim considerations, governments have claim conclusion whereas individuals like to accept them indeed in the event that they are insensible and delineating bitcoin awful. I still see it shocking how bitcoin is called this so called recorded over but whereas fiat is the not culminate but utilized for all such as well more than bitcoin. Fiat is unstable, particularly within the nations that are not created or not well created, the fiat will be depreciating but the citizens will know but have nothing much against the legislative defective arrangements.

[pixie85]

For me Bitcoin is much better than stocks or bonds and much better than keeping money in your bank account.

Account is the worst because of the inflation, possible bailouts and government taking your money for whatever reason. Also they it doesn't make you earn anything.

Bonds are locking your money for a long time and the return isn't big. Its strongest point is safety but we don't want our money to be safe we want to make more.

Stocks are a little better but there's always a chance of bankruptcy. There's always that CEO who can become a target or make a big mistake and destroy the company.

Bitcoin is the best because it cannot be taken from you, grows in value the fastest and has no person in charge.

[famososMuertos]

... your OP, it is a dilemma a blender of things that makes a bit of sense if I add the title ... whatever, I always ask how you arrive at that conclusion where the statistics are and it does not matter the field of study but to arrive at Such a conclusion must have some foundation in a field of study of people surveyed, perhaps mediocre by including only 10 people but at least you will have sustenance to reach that title of your thread.

It's not about fear, it's about adaptability to a new system, not just bitcoin, systems are established environments, people as a rule are reluctant to change. It is incredible to think that ordinary people do not worry about having at least a few satoshi, I commented on it in recent days on my local board, people are more given to making a fool of themselves in a social network, they want to make the world laugh, they cheer up with any social network but they are not encouraged with bitcoin and be part of this wonderful project, which will have its true adoption when ordinary people take it seriously and make up their minds use bitcoin.

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[Yamifoud]

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.

It is a dangerous game for those who are not prepared but for those who have knowledge about this, that gonna be an easy game for them. We can figure out how difficult it was at the start but as we are enjoying it, not emotionally affected by FUDS or anything that could ruin our plan, everything is fine.

But, this form of investment isn't for weak hands and emotional investors. Yeah, they could not handle the stress if they hear negative and bad news. Bonds and the stock market will be suited for them, they are profitable and many people make use of this for a living.

[Silberman]

In my opinion Ordinary people afraid of the high volatility of bitcoin even I also afraid sometimes due to the high volatility. Ordinary people buy gold just because of very little volatility and the chances of gaining it year by year are more, on the other hand, we have seen the last 3 years' performance of Btc how bitcoin drops to 3200$ so this is the main concern of ordinary people. I would say less volatility like in gold attracts more investors to the bitcoin.

That is without a doubt the factor, most people are very risk adverse, they want to obtain profits but they do not want to taste losses that are significant, the moment they do they get scared and they do not want to remain invested in that asset anymore, they see the potential in bitcoin but they also see that the price can go down relatively quickly and they do not want to go through that, unfortunately for them the assets that move like bitcoin are the ones that give the greatest profits so by having that attitude they are limiting themselves and the potential profits they can have.

[gabbie2010]

Some categories of people in my country will take you for a thieve, a smuggler, or a scammer if you ever tell them you are into bitcoin and the reason is not far fetched their mentality and knowledge of the so-called Bitcoin and ear say they have not actually sat down to read about it but carries what they heard from someone who heard from another somebody wrong information.

To buttress your point the popular moribund ponzi scheme MMM once adopted bitcoin as their payment gateway for their teeming investors when the scheme bankrupted and collapsed a lot of their investors painted bitcoin in bad light whereas it was the MMM scheme was the main culprit thus becoming even more difficult to convince and educate people about bitcoin because of the bad experience they had with ponzi while lot of them always classifies bitcoin as scam and money doubler however it now obvious that the educated ones had started embracing it now having researched and seek relevant information on it.

[Altcoinsintel]

Why do ordinary people feel afraid of Bitcoin?

It is not a very good idea to put people under names like ordinary, or normal, normies, or whatsoever. What is the meaning of ordinary? The only categorization we can make is coming from numbers. Wealth and individual income. If by ordinary you mean people in the middle class which is lately shrinking dangerously in all countries, then you should know they don't care about Bitcoin. The last trend is the trading of stocks in the USA because apps like Robinhood made it easy for everyone to become a trader without having to pay a huge fee to a bank or investment fund.

Nowadays, there are many ICOs, most of them are stupid and not worth it.

You haven't seen anything yet. ICOs in 2017 were coming in thousands. What we have today is very limited to what was happening a few years ago.

The prosperity of encryption technology is just like the technological prosperity.

This is called cryptocurrency technology, it is not just about encryption. Encryption is just a small part, cryptocurrencies are networks running in a certain way and using cryptographic proofs to distinguish ownership and record transactions.

[KyoRider]

The main reason for this would be lack of knowledge, actually I wouldnt call it ordinary, they are just like unaware of what Bitcoin can give to them and in real life scenario, we know there are lot of scams so they are just being careful specially those middle ones as it can make them lose everything in a snap

[Wipeout2097]

Really Conventional individuals as it were fear approximately the modern things.Most of scams existing online as A result numerous fake things are here to require our cash. Particularly in online, we are constrained to confront a tremendous things with fake philosophy. Most of the things attempt to trick our cash at anycost. So we ought to be mindful almost the fake one. Indeed numerous trades are fake one to take our cash. We ought to dodge trick projects,scam coins and scam exchanges.Doing proper research and just invest and trade with real coins like Bitcoin.

[pixie85]

Some categories of people in my country will take you for a thieve, a smuggler, or a scammer if you ever tell them you are into bitcoin and the reason is not far fetched their mentality and knowledge of the so-called Bitcoin and ear say they have not actually sat down to read about it but carries what they heard from someone who heard from another somebody wrong information.

This can be categorized under lack of knowledge or misinformation. People in general don't know what they're doing. They lack basic math skills, don't know anything about finances.

If you ask someone what is a better investment a 10 stocks worth 100 USD or 1 stock worth 100 USD they'll say it's the cheaper one because there's more room for growth. THat's what average people know

[ReiMomo]

The main reason for this would be lack of knowledge, actually I wouldnt call it ordinary, they are just like unaware of what Bitcoin can give to them and in real life scenario, we know there are lot of scams so they are just being careful specially those middle ones as it can make them lose everything in a snap

That is surely the main reason, they always afraid and they don't have money that they can afford to lose, if they had money, why not they didn't invest in the thing that they can see. Just because the problem here is they had a lack of knowledge upon investing in bitcoin. I guess they worried about what they invest and mostly, ordinary people aren't very techy yet and involve in blockchain technology.

We can't blame them, instead let's show them how to manage risk upon investing crypto, From time to time bitcoin will become very popular and even these natural people will surely become interested in bitcoin.