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Author Topic: Why do ordinary people feel afraid of Bitcoin?  (Read 3284 times)
milani
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March 03, 2021, 09:50:57 PM
 #141


It depends on what do you mean by saying ordinary people. In case ordinary people that just work in ordinary office from salary to salary, so such kind of people do not like risks and prefers something that is less but stable. In case you mean ordinary people that haven't invested at the very beginning of yhe Bitcoin or invested in the decrease times, so they may have lots of personal reasons. And it seems to me that even examples about Google, Amazon and other examples will not help much. The only thing will work - personal motivation and strong desire to change something in their life.
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March 04, 2021, 08:29:47 AM
 #142

One reason might be that people are afraid of bitcoin is that they don't know anything about, excerpts from gossips is not exactly a good relay for information. It is natural that you are afraid of something you don't know, but to dispel that fright of the unknown, the only thing that we can do is to face it head on and look for answers to our questions, if there are people that are sharing information about bitcoin in a neutral standpoint, I think that we can remove this fear surrounding these people who are afraid to take a leap of faith. If there is a light that will guide, people will walk through the darkness.

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March 04, 2021, 11:25:04 AM
 #143

Ordinary people do afraid of bitcoin because they didn't know the real value of crypto currency. They did not do some research about the importance of bitcoin. If you really trust the process of crypto you will not afraid to commit about it. Ordinary people feel afraid of bitcoin because they not really trust the process about bitcoin. They afraid about loosing money because they may think that bitcoin is a piece of scam or not to be trust by many.

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March 04, 2021, 11:33:48 AM
 #144

One reason might be that people are afraid of bitcoin is that they don't know anything about, excerpts from gossips is not exactly a good relay for information. It is natural that you are afraid of something you don't know, but to dispel that fright of the unknown, the only thing that we can do is to face it head on and look for answers to our questions, if there are people that are sharing information about bitcoin in a neutral standpoint, I think that we can remove this fear surrounding these people who are afraid to take a leap of faith. If there is a light that will guide, people will walk through the darkness.

True, people that trusts gossips easily without due diligence then they miss out on the opportunity rather it be bitcoin or something else.
Recently most gossips and hypes around bitcoin was to keep people away from bitcoin and for what? So that institutions can buy bitcoin or other crypto currencies at a cheap rate.
Tactics used by those people is mostly fear and ill language towards bitcoin like “it’s a bubble”.

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March 04, 2021, 11:47:05 AM
 #145

One thing about being scared of bitcoin for ordinary forks is that, if bitcoin isn't tangible and they don't fully understand the concepts about it and as such, it becomes so much of a risky investment for them, but putting money in what they can really wrap their heads around it.
It becomes a problem and very challengeing still, but with the series of complaints on how bitcoin or crypto currency at large has been one of the best ways to defraud people and go boom, untraceable.

In that instance, you they pay no attention to details as per matters of security and are fill with all the negative aspects of the trade which becomes a problem ig barrier on any possible future investment.

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March 04, 2021, 03:20:13 PM
 #146

Here are somethings that made ordinary people feel afraid of bitcoin:
• Market facilitator: many people don't have someone that is directing them to where to achieve something good from their Investment because they have any idea concerning the new strategies many bitcoin userse are now using to achieve income from the market.
• lost: many people are afraid of bitcoin based on the negative thought they have heard from their facilitator, that no one can trade with bitcoin without experiences lost in his investment.
• bear market: The reason why the ordinary people feel afraid of bitcoin is because they cannot cope with the condition of the market price in case  it decreased or increase in unexpectedly.
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March 04, 2021, 03:38:16 PM
 #147


It is like saying cars are dangerous and you shouldn't drive one because you can die?
That's a good analogy to how the commoner feels about Bitcoin and crypto in general.

To them is so dangerous (because they think it is a scam and you'll only lose your money) that they don't even bother educating themselves about it. These people are just too ignorant and making up excuses for themselves, something that needs to change...

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March 11, 2021, 04:54:22 AM
 #148

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.

3 Reasons ordinary people afraid of Bitcoin

1.  People Don’t Understand It
2.  It Isn’t Legal Tender
3.  Bitcoin May Lose Its Value
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March 11, 2021, 06:09:45 AM
 #149

Because it is too expensive investment and they are afraid of losing their money .

Second is that we have lack of information campaign to get ordinary peoples attention and opinion about crypto.

So the ending is they are being afraid even we have already proven how this works and how this gives us profits since long time ago.

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March 11, 2021, 04:03:42 PM
 #150

Sometimes they feel afraid of Bitcoin due to lot of scams involving it even most of them found it out years ago still didn’t give time to engage. There are times that they are only encouraged to invest if they saw positive results from their family and friends investing in Bitcoin.
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March 11, 2021, 04:29:09 PM
 #151

One reason might be that people are afraid of bitcoin is that they don't know anything about, excerpts from gossips is not exactly a good relay for information. It is natural that you are afraid of something you don't know, but to dispel that fright of the unknown, the only thing that we can do is to face it head on and look for answers to our questions, if there are people that are sharing information about bitcoin in a neutral standpoint, I think that we can remove this fear surrounding these people who are afraid to take a leap of faith. If there is a light that will guide, people will walk through the darkness.

True, people that trusts gossips easily without due diligence then they miss out on the opportunity rather it be bitcoin or something else.
Recently most gossips and hypes around bitcoin was to keep people away from bitcoin and for what? So that institutions can buy bitcoin or other crypto currencies at a cheap rate.
Tactics used by those people is mostly fear and ill language towards bitcoin like “it’s a bubble”.

Some people are still actually saying that Bitcoin is a "bubble" but I believe that they are only doing this to gather information about something that they do not know because some of the engagements from that kind of topic can be knowledgeable. All people should keep an open mind if they want to experience change but that does not mean that they would not have doubts because having doubts can be normal and you everybody can contribute as long as they see the opportunity to teach them about Cryptocurrencies. This gossips are something harmful for them because it is what kept them away from Bitcoin which can be a potential income generator.

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March 11, 2021, 04:31:36 PM
 #152

You should know that those of us involved with the Blockchain Technology, bitcoin and cryptocurrencies do not have super powers. We are actually ordinary people.
Personally, I think there are two major reasons people are afraid of bitcoin.
Firstly, they are afraid because they don't know. Ignorance has actually caused so many people to think bitcoin is harmful or illegal. You should know no one wants to be involved in illegal activities and since they have the wrong notion of bitcoin being illegal, they are afraid of it.
Secondly, they are afraid because they think it's a scam. They have been involved in so many Ponzi Schemes that they don't believe bitcoin is not one.

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March 11, 2021, 04:39:41 PM
 #153

Bitcoin may often be used on the black market by certain people, because virtual money is not directly monitored by the government.  This is what makes people hesitate to use Bitcoin because it is mostly used for criminality.  In fact, not all Bitcoin owners use it for crime
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March 11, 2021, 05:00:37 PM
 #154

I think it's difficult for an ordinary person to see the value in Bitcoin. The value in Google, Amazon and Apple is obvious. They make physical products and services that are used and solve problems. At present, Bitcoin does not really solve a real problem. At least not for the average ordinary person. It has minimal use in payments on the whole (also note long confirmation times and relatively high transaction fees) and even many of its supporters acknowledge it's a "store of wealth" at this point. If a person wants to buy a coffee at their local shop or buy some new furniture, why is Bitcoin helpful?

At best, Bitcoin is fascinating to the average ordinary person because the price might go up and make them wealthy. That, in and of itself, is not a stable proposition, and is rightly something to be worried about. Obviously, people more technically inclined see it a different way, but the average ordinary person (and even the average Bitcoin investor) is not that.

In addition, all the scams (eg in response to Elon Musk tweets) are not exactly reassuring.
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March 11, 2021, 06:03:15 PM
 #155

In general, bitcoin is probably a very speculative and very volatile asset and there are concerns about potential losses, many scams have occurred and caused huge losses and can also be used for black market transactions, and many other concerns in general about bitcoin shortages.
because they are not directly involved in bitcoin so they will never know the good benefits that will be obtained from bitcoin and it all depends on who uses it and will be more useful and useful if used properly, safely and positively.

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TedMosby
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March 11, 2021, 06:04:36 PM
 #156

-snip-
It is even possible for some people or groups to take over the blockchain through a majority and destroy the entire mechanism.
-snip-

this is a true statement. blockchain can be manipulated with 51% Attack. CMIIW.
https://bitcointalk.org/index.php?topic=5220202.0

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

just say the password
"wallstreetbets" lol.

I believe anything that happens in the crypto market is happen too in stock markets or any investment.
a different instrument, but same strategy.

a bunch of misleading and bad narratives about cryptocurrency.
- monkey business
- ponzi
- scam
- illegal
- bubble
- etc

people believe it without trying to learn about it. why? because that narrative comes from an educated people, let say bankers, financial advisors.
10%-20% a month is their standard for a realistic return from their investment. other than that? it's a scam investment.

kramat
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March 11, 2021, 06:23:01 PM
 #157

Trust the importance for the all prices. Bitcoin reached the people. But ordinary people don't know the bitcoin know. So frist people know the bitcoin and understanding the bitcoin. Ordinary people don't know the bitcoin. That the reason for peopl not invest and afraid the bitcoin investment. Before use the bitcoin improve the bitcoin know

Renampun
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March 11, 2021, 06:48:55 PM
 #158

it happened because they didn't want to try to buy Bitcoin...
the first time I was afraid to buy Bitcoin for fear of loss and doubt overtook me, but over time I learned that Bitcoin is a trusted asset that could not harm me. many people have never been educated about what Bitcoin is, I think education is the most important thing.

thesmallgod
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March 12, 2021, 07:21:50 AM
 #159

We who are into Bitcoin are a minority, we are early adopters of Bitcoin, Why cant everyone
see what we can see?

Knowledge is the key, if they took the time to do a little research they would realise, its too
easy to rely on mainstream media.

Bitcoin is very volatile
Bitcoin is used by criminals
Bitcoin is a Ponzi
Bitcoin will be banned

These statements are not used for traditional investment instruments so generally people
dont want to take chances particularly with something which is alien to them, they are
happy enough to go about their business, work hard and trust the traditional monetary system.
The best strategy to downgrade something is to praise the negative impact than the positive impact. From the small economics I studied in school, I understand fiat currencies have both advantage and disadvantage but the government will praise the advantage and covers up the disadvantage. So also what we are witnessing today about bitcoin even though some of this assertions are not even right e.g calling bitcoin a Ponzi scheme. bitcoin is volatile, yes but fiat also can create economy instability
Bestia
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March 12, 2021, 02:33:40 PM
Merited by Ratimov (1)
 #160

Believe me, if a person tries to invest in crypto, that does not make him unique and not an ordinary one. I can give an example. A friend of mine has been interested in the world of crypto for more than 10 years. It seems he knows everything. But he also makes great mistakes and loses his money. Some of his actions seem weird to "ordinary people". For example, he decided to try crypto gambling, but he even did not check if the casino uses a blockchain. I (an ordinary guy play on fairspin.io and know that their blockchain technology works for me.
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