Why do ordinary people feel afraid of Bitcoin?

[bryant.coleman]

The major reason why majority of the people is staying away without investing in cryptocurrency is because of the high volatility and that combined the number of scams taking place in the market and the number exchange hacks and most of the time these exchanges cease to exist after the hack leaving its customers dry and with all these risk involved majority will stay away from the market because the risk weighs much higher than the benefits it offers.

Yeah.. recently one of the South African exchanges got hacked and $4 billion worth of coins were stolen. And in the end, it turned out that the coins were stolen by the promoters themselves (Cajee brothers). These sort of incidents really scare ordinary investors. But at the same time, they need to understand that Bitcoin is an asset that can be stored by the individual without the help of any exchange or third party website. At least some of the noobs go for exchange wallets, because they are too lazy to create the wallets themselves. In such cases, they have only themselves to blame.

[NicNacCoin]

Generally most of the ordinary people are liking what's something real and guaranteed money but Bitcoin fully non guaranteed investment and it's has huge amounts of risks. Sometimes market crashed , they fell into losses. So they can't take Bitcoin as easily.

[carlfebz2]

Generally most of the ordinary people are liking what's something real and guaranteed money but Bitcoin fully non guaranteed investment and it's has huge amounts of risks. Sometimes market crashed , they fell into losses. So they can't take Bitcoin as easily.

Sometimes it does matters with some basic education or literracy but if you are a person who do fully dependent on whats those traditional things then you would really be having that impression that whenever a new thing that you do experienced or encountered will really be still a big question mark in your mind.

Your limited knowledge will really be putting you into the situation where you do believe that it should be avoided.You hadnt opened up your mind on accepting on changes or new things which would really result on missing out the action or opportunity.

This doesnt only talks about being afraid with Bitcoin but also in other things as well in life whenever you do make new encounter.

[AndySt]

The major reason why majority of the people is staying away without investing in cryptocurrency is because of the high volatility and that combined the number of scams taking place in the market and the number exchange hacks and most of the time these exchanges cease to exist after the hack leaving its customers dry and with all these risk involved majority will stay away from the market because the risk weighs much higher than the benefits it offers.

Yeah.. recently one of the South African exchanges got hacked and $4 billion worth of coins were stolen. And in the end, it turned out that the coins were stolen by the promoters themselves (Cajee brothers). These sort of incidents really scare ordinary investors. But at the same time, they need to understand that Bitcoin is an asset that can be stored by the individual without the help of any exchange or third party website. At least some of the noobs go for exchange wallets, because they are too lazy to create the wallets themselves. In such cases, they have only themselves to blame.

It's just that the absolute majority of people would like to earn a lot of money without absolutely no risk, and some of these people are looking in the direction of bitcoin   But for the time being, these people do not understand that the more money they want to earn easily, the greater the risk it implies, and in the event of a negative scenario, frustration and fear of getting involved with this business begins. I fully understand their feelings and I think that it may be even good that someone has some concerns that can save them from large losses in the future. Yet fear did not appear in the process of evolution for nothing and helped a lot in the survival of our species.

[romecheo]

If you ask them, why they were afraid to put their investment on Bitcoin, perhaps, they will answer, they cannot believe that could be a profitable,

or they may say, they wanted to invest in something that was tangible, which they think, was more secure,

we cannot easily convince them to believe and put away their worries, due to bad reputation which made by the media or local government concerning cryptocurrencies, which create fear to others.

[Barry Mantle]

For ordinary people, Bitcoin and blockchain may not be so easy to understand, so they will think this is a scam, a tulip bubble, I think this is very inappropriate, most of this is because of Bitcoin People who lose money with currency, or people who lose money because of other altcoins. On the one hand, he lacks knowledge of Bitcoin, and he has no basic self-judgment on investment. Once he sees someone making money from a certain token, he will rush into the market, and he will eventually fail miserably.

[Joshua01]

I will be rejected because of this, but BTC is bad because it is completely technically obsolete (transactions require eternity, high fees, no smart contracts, etc.). Of course, people will say "this is a store of value." Because it cannot fill any other roles.

Having said that, I deeply respect it. Without it, who knows whether cryptocurrency will exist. This idea is indeed advanced. But none of these give it value

[bryant.coleman]

I will be rejected because of this, but BTC is bad because it is completely technically obsolete (transactions require eternity, high fees, no smart contracts, etc.). Of course, people will say "this is a store of value." Because it cannot fill any other roles.

Having said that, I deeply respect it. Without it, who knows whether cryptocurrency will exist. This idea is indeed advanced. But none of these give it value

There is no doubt that certain drawbacks are there for Bitcoin. As you have mentioned, high fees and delays in getting confirmations are some of them. But remember that the developers are working hard to get around these issues. Lightning Network is being touted as a solution for these issues, but right now it is not very user friendly. But as I mentioned, the developers are working hard to make it less complicated and accessible for everyone. And hopefully, a majority of the users will be using LN within a few years time.

[gundala]

For ordinary people, Bitcoin and blockchain may not be so easy to understand, so they will think this is a scam, a tulip bubble, I think this is very inappropriate, most of this is because of Bitcoin People who lose money with currency, or people who lose money because of other altcoins. On the one hand, he lacks knowledge of Bitcoin, and he has no basic self-judgment on investment. Once he sees someone making money from a certain token, he will rush into the market, and he will eventually fail miserably.

something new, especially the opposite of a system that has existed for a long time, will certainly not be easily accepted. there are pros and cons, a lot of speculation, especially the media that is against cryptocurrencies often presents hyperbole news. so ordinary people are increasingly afraid to try, even just to learn it.
whereas just like anything else, crypto has its advantages and disadvantages. the fact that many governments can accept bitcoins means that bitcoin has good opportunities and benefits.
If we continue to be afraid, when will we advance? This is one of the evolution of the financial system, where we are free to have our own "money", with all the risks of course.

[finaleshot2016]

You can't be terrified of what's going on with bitcoin if you don't have any notion of what's going on. People who have no knowledge of how or what bitcoin is would find themselves in a difficult scenario if they invest in it. One of the fundamentals that you should focus on is knowledge.

I've found that some people aren't investing in bitcoin because they don't understand how it works, despite the fact that there are platforms that may help people learn more about it.

[Philipruch]

It's natural that you can't give what you don't have and most especially talking about the poor, it's very difficult for them to give out the little they have while looking for  another so taking risk is really a difficult task for any one especially the poor

[clint25n]

maybe we can say that only applies to a handful of people, because they are afraid of conditions and opinions that only they know,this is a very important business for the future.profit, sometimes we will also feel what is called a loss.So everyone who runs a business of course they only think about profit

[SacriFries11]

ordinary people tend to be afraid of bitcoin because of lack of knowledge and information. But if they are well informed and they will try to learn and understand cryptocurrency it will be beneficial for them. they will learn on investing and trading. they do not know how bitcoin runs  and how the technology of blockchain works. they are afraid to try bitcoin. they are already comfortable with what they have and not brave enough to take risk.

[Pamadar]

You can't be terrified of what's going on with bitcoin if you don't have any notion of what's going on. People who have no knowledge of how or what bitcoin is would find themselves in a difficult scenario if they invest in it. One of the fundamentals that you should focus on is knowledge.

I've found that some people aren't investing in bitcoin because they don't understand how it works, despite the fact that there are platforms that may help people learn more about it.

They are not interested in taking or sparing some of their time to learn more about this venue of investment.

We can't force them though as they have their own opinion about this  industry and the fact that most of negative news about this investment are those that's mostly shows up in the internet, without focusing or taking deeper understanding negative publicity really throw them away from this market.

[conected]

ordinary people tend to be afraid of bitcoin because of lack of knowledge and information. But if they are well informed and they will try to learn and understand cryptocurrency it will be beneficial for them. they will learn on investing and trading. they do not know how bitcoin runs  and how the technology of blockchain works. they are afraid to try bitcoin. they are already comfortable with what they have and not brave enough to take risk.

- With a voluntary response in exposure to bitcoin and information, ordinary people has a better rate of sticking to and investing in bitcoin but from what i see their reaction is just coercion, they don't like bitcoin and referrals keep popping up for them, they can understand it but psychology has formed compulsion, it still scares them towards bitcoin in some particular way. Perhaps the average person needs a few extra special elements to expedite their relationship with bitcoin, with common sense and irresponsible advice it is difficult to form a sense of voluntariness.

[Lanatsa]

because they don't know about crypto and bitcoin yet. they are afraid because they do not understand about the function and workings of crypto. all new people who invest in crypto also initially have concerns, but over time they can understand and understand about crypto.

Yes it's true for beginners, investing in bitcoin looks very complicated because many terms to understand in cryptocurrency and analysis of market movements need to be done, so they decide not to invest in bitcoin, especially lately a lot of FUD news about bitcoin and they read it randomly on social media and make them even more afraid of bitcoin investment.

When you do go literally with technical terms then it would really be hard for most people but if we do get engage with Bitcoin then knowing the basics would really be enough.

It isn't necessary about to learn about those numbers or technicalities but it would be good if you are bit aware with it too but going with the basic wont really be a bad idea.

Getting afraid is just only when you aren't aware on the things you've been dealing with but once you are aware then I do see the different case.

[Hobo66]

Because the ordinary people don't even know about the bitcoin that at which time it will rise and will down, even most of the traders don't knew some time. So, this may be the fact that ordinary people afraid of bitcoin and not want to invest in this. Becuase they don't want to be in loss even.

[Cling18]

Because the ordinary people don't even know about the bitcoin that at which time it will rise and will down, even most of the traders don't knew some time. So, this may be the fact that ordinary people afraid of bitcoin and not want to invest in this. Becuase they don't want to be in loss even.

Ordinary people still got no complete idea about Bitcoin and its importance. I'm sure that if people would get enough education about cryptocurrency and its value, I'm sure that even ordinary people will get hooked on it. People only lack knowledge about Bitcoin and they usually hear negative things about it without checking the facts first.

[Ebede]

Bitcoin has been of great help positively to the world lately in this 21 Century,i have be wondering why a lot are still scared of venturing into it Damn.
One i feel ignorance, because without proper explanation to the ordinary man i don't see them diving into bitcoin,they have to be open to this fully.
They fill and believe since bitcoin is not physically seen and felt its gonna ne crashed anytime soon,there though on bitcoin is outdated and old,the world is evolving,things are changing but there mindset ain't doing Same.
Thats why they need proper insight in bitcoin.

[Caldear]

Bitcoin is a kind of digital currency. For most ordinary people, they just heard that people around them talk about misinformation such as Bitcoin is illegal and unsafe. When they hear that other people lose money by investing in Bitcoin, they will be afraid of it. They are afraid of losing money,so they will think Bitcoin is a scam. They are only temporarily seeing the negative problems of Bitcoin. But they did not really understand Bitcoin by themselves, did not participate in the blockchain technology themselves, and did not know the important impact and actual value of Bitcoin.