Why do ordinary people feel afraid of Bitcoin?

[protocon]

well... there is no such thing as easy money. If it earns you a lot of money, it means high risk. So if you think bitcoin will make people rich, that also means that it can also make people poor at the same time.
Crypto market is zero sum game so there is no such thing as everyone can win. I think that's what people fear about. They think that the risk from uncertainty is higher compared to stocks.
It's just my opinion so I might be wrong too.

[Ludmilla_rose1995]

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.

the same thing happened to me when I just got into cryptocurrency (in 2017). At that time a friend told me that bitcoin was a scam and I would incur a huge loss. It's not that I don't believe what she said, it's just that I'm curious about what she said. I wonder if getting into crypto investing will cost me a lot of money?

Not. Investing in cryptocurrency is fun and has made my life change for the better. even today I still trade crypto and bitcoin. Not only trading, staking, and farming at the DeFi pool also makes a lot of profit. What she said was untrue.

[pragna]

I think your answer is behind your question . Actually ordinary people can not familiar to updated version or system where BTC or cryptocurrency using latest technology of the world. So we have to give time more and more to feet BTC. As it is fully digitized system to they first have to digital and then they can come to frandly to BTC. nothing else.

[blockman]

Maybe ordinary people were afraid of Bitcoin some years ago, but now there are more and more people are interested in Bitcoin.

It's no doubt that the number of people that like bitcoin has increased. They're willing to invest in bitcoin because of very few reasons, they saw its price surge and had another ATH and that's why they've become interested in it.
But if there's no incident that made bitcoin goes to another all time high, I don't think that the number of newly interested people will increase.

[tippytoes]

Maybe ordinary people were afraid of Bitcoin some years ago, but now there are more and more people are interested in Bitcoin.

It's no doubt that the number of people that like bitcoin has increased. They're willing to invest in bitcoin because of very few reasons, they saw its price surge and had another ATH and that's why they've become interested in it.
But if there's no incident that made bitcoin goes to another all time high, I don't think that the number of newly interested people will increase.

But up until now, a lot of people you will encounter don't know how to transact with crypto. So I believe, the reason why they are afraid or hesitant to touch crypto, is because they have no idea where to start with. But if you educate them and guide them step by step, more than likely, they will appreciate to transact with crypto. Sometimes ignorance is the reason why people are afraid of something. But once they uncovered the true nature of the subject, the uneasiness will disappear.

[albon]

They feel afraid of investing Bitcoin because of their concern that they will lose their money due to their lack of knowledge of Bitcoin, in addition to the fact that Bitcoin is not tangible by hand, this is what makes it a strange investment for them, But I am sure that if they study Bitcoin well, all their worries will be gone.

[fillippone]

They feel afraid of investing Bitcoin because of their concern that they will lose their money due to their lack of knowledge of Bitcoin, in addition to the fact that Bitcoin is not tangible by hand, this is what makes it a strange investment for them, But I am sure that if they study Bitcoin well, all their worries will be gone.

Please bear in mid that bitcoin is a very difficult subject and getting a basic understanding of it is not a trivial feat.
Bitcoin is at the crossroads of some very different topics:

• applied cryptography
• parallel computing
• game theory
• monetary economics

Of course, the average joe finds it scaringly difficult to understand: and when you do not understand a subject, you tend to feel afraid of it.

[acener]

Because they don't fully understand it so they are still afraid of it.
Let's just be honest here some of us gets excited or afraid whenever we would do something for the first time and for me that's just what it is.

[proTECH77]

I was like them before,I use to see bitcoin as a scam digital currency that will not last in the world, until i carried out some research concerning the founder of bitcoin which is Satoshi Nakamoto. Since then I believe so much on bitcoin and how someone can use it to invest to achieve something reliable from the investment.
Those people still afraid of bitcoin, are those people who are use to fiat money investment and never have time to do their personal research to know how real and faster someone can use bitcoin to grow his or her business in the country.

[big kid]

Because it's still something new to them. Because it has big fluctuations. Because people are used to fiat money for centuries. It's always hard to accept something new.

[elisabetheva]

They feel afraid of investing Bitcoin because of their concern that they will lose their money due to their lack of knowledge of Bitcoin, in addition to the fact that Bitcoin is not tangible by hand, this is what makes it a strange investment for them, But I am sure that if they study Bitcoin well, all their worries will be gone.

Besides having to study properly and know bitcoin for real, even though it is not in shape, of course, it needs something that can strengthen it so you can trust more. one of them is when we get a gift and want it to be exchanged for fiat they can see the real transaction that we have done until it's finished in our account. so that what happens can be seen with the naked eye.

Bitcoin is an investment that actually exists but cannot be shaped if you do not know that it is very different from the real thing, even though it exists but cannot be held as a real thing. This requires a deeper understanding in order to understand what bitcoin means.

[ALLON2017]

Because it’s not like gold, where the whole words needs it to make jewellery etc. The world really dosent need BTC  apart from exchanges pairing it with alt coins to make profits. I had to transfer $50 to buy an alt coin and was charged $13 fee. So no tears will be shed when it comes crashing because it’s really useless

[blockman]

Maybe ordinary people were afraid of Bitcoin some years ago, but now there are more and more people are interested in Bitcoin.

It's no doubt that the number of people that like bitcoin has increased. They're willing to invest in bitcoin because of very few reasons, they saw its price surge and had another ATH and that's why they've become interested in it.
But if there's no incident that made bitcoin goes to another all time high, I don't think that the number of newly interested people will increase.

But up until now, a lot of people you will encounter don't know how to transact with crypto. So I believe, the reason why they are afraid or hesitant to touch crypto, is because they have no idea where to start with. But if you educate them and guide them step by step, more than likely, they will appreciate to transact with crypto. Sometimes ignorance is the reason why people are afraid of something. But once they uncovered the true nature of the subject, the uneasiness will disappear.

It's a common reason for those who know bitcoin but afraid of using it because they only hear the name of it but never transacted. But this is an easy thing if they'll going to do deeper research and find someone who can teach them to do it personally or even without someone. There are a lot of tutorials that they can search on YT on doing things such as transactions and keeping their balances on their wallets. It's not really a big problem at all, all of us once became a newbie.

[finaleshot2016]

The most popular response is that most people are unaware of bitcoin, so why would he invest in something he doesn't understand? It's human nature to be wary of new things, but once it's discovered that many people have already profited from them, they'll join the hype.

I can't blame those persons who are trying to warn people but make it sure that you've made a lot of research on things such as bitcoin before warning others who already have knowledge on it.

[Ewox]

Most people who are afraid of Bitcoin lacks knowledge to what Bitcoin really is all about. They just assume it is something negative where in fact it is supposed to make their life easier. I know someone very close to me who resents Bitcoin, and when I ask him what was his reason for not liking Bitcoin; he just said it’s like gambling your money and he doesn’t like gambling. And he doesn’t want to use it if ever it’ll be legalize and all. But I did try to educate him about it, sad thing is that he refused to learn the basics and purpose of Bitcoin.

[virasog]

Most people who are afraid of Bitcoin lacks knowledge to what Bitcoin really is all about. They just assume it is something negative where in fact it is supposed to make their life easier. I know someone very close to me who resents Bitcoin, and when I ask him what was his reason for not liking Bitcoin; he just said it’s like gambling your money and he doesn’t like gambling. And he doesn’t want to use it if ever it’ll be legalize and all. But I did try to educate him about it, sad thing is that he refused to learn the basics and purpose of Bitcoin.

Many people do not know what exactly is bitcoin. They think it is some sort of ponzi scheme in which if they invest they will lose the money . People should get some knowledge about Bitcoin before assuming these things by themselves. I am so those people who have negative thinking about Bitcoin they do not have the right knowledge.

[Saisher]

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.

That's a bad impression and people have it on Bitcoin because they are not well informed on what and how Bitcoin works, they thought it's to technical when it's really not, another thing is so many Ponzi scheme are using Bitcoin and people have a bad impression of Bitcoin because of these Ponzi scheme, we should continue educating people on the importance of Bitcoin and Cryptocurrency in an evolving technology.

[jesselui]

Some people like guaranteed money. They like taking risks little and want to see their money physically. That's why bitcoin is scary for them. But over time, they will get used to and famous millionaires will turn to bitcoin.

[Vishnu.Reang]

Some people like guaranteed money. They like taking risks little and want to see their money physically. That's why bitcoin is scary for them. But over time, they will get used to and famous millionaires will turn to bitcoin.

That is not a valid argument. A majority of the investors have no issues in pouring their funds in to equities and real estate, despite the high volatility involved in these sectors. And I don't think that Bitcoin is more volatile when compared to these (altcoins may be). I think the real issue lies with the unclear legal status and tax implications. Also for ordinary people, going through the KYC process required by various cryptocurrency exchanges can be a huge hassle.

[sayaya17]

That's right, invest in bitcoin or cryptocurrency are very dangerous. It's natural that you hear that from anyone.
Yes, because Bitcoin and other cryptocurrencies are indeed very high volatility. Unlike most other stocks that look very stable.
We need to know that investing in it requires basic knowledge. Moreover, if you want to invest in bitcoin, you need to know it
and read a lot about bitcoin and cryptocurrency. Because if you lack knowledge about crypto, it will be dangerous.