To the Ill-informed, btc has done more harm than good

[Nerdy doctor]

Btc has remained a mystery to the uninformed. People with little or no information are ignorant about everything cryptocurrency and tend to be biased or flat out wrong when sharing information in their local circles. Having little or no knowledge in this, they would be swayed to believe whatever news suits their narrative irrespective of it being right or wrong. Btc,bring a mystery could also be exciting to some people and in their ignorance, would go into the cryptocurrency space with little or no information and would get cheated, duped and scammed and would then conclude that it was a sham all along. Not too long ago, I was among the lot that was ill-informed and got taught a hard lesson. Now, I'm taking it slow, getting new information and doing my own research.
I think people fear and react negatively to what they do not understand

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[BlackHatCoiner]

It's not only what they don't understand, but broader than that. It has been repeatedly subject of propaganda in different forms (criminality, environmental impact etc.), because it doesn't favor authorities, but authorities control the media.

It's also that people don't make great researches and Bitcoin requires a significant time to sit down disciplined and understand what it is.

[NeuroticFish]

Vaccines have chips, 5G is boiling your brains out, the earth is flat, ... people do tend to believe a lot of things, people tend to stay badly informed and it's not only Bitcoin related.
Even worse, they will not listen to us, no matter how correctly we show them the reality, because they have already chosen to believe this or that personality or newspaper.
All we can do is keep calm and move on. Sooner or later more and more will see what is wrong and what is right. I don't have a better solution than doing... what we already do.

[Upgrade00]

Any new technology is met with a certain level of resistance from the general public, this could be due to an inability to accept something different from the norm. The internet suffered this when it was launched, and Bitcoin did the same, as the general public was already used to Fiat as the principal financial agent.

I think people fear and react negatively to what they do not understand

This only happens for a while, with time the acceptance spreads around the public as more people come to the realization that there can be an efficient alternative.

[Xal0lex]

Many of those who learned about bitcoin back in the beginning, when it was worth a few dollars or even cents, did not believe in bitcoin either. I think now they regret that they could not fully appreciate the potential of this technology, because it was their chance to get very rich and financially independent.

Unfortunately, not many people are able to truly appreciate a brand new technology and look at the long term, so for many people it seems like some kind of nonsense that is not worth paying attention to, much less investing their money in.

[KennyR]

Vaccines have chips, 5G is boiling your brains out, the earth is flat, ... people do tend to believe a lot of things, people tend to stay badly informed and it's not only Bitcoin related.
Even worse, they will not listen to us, no matter how correctly we show them the reality, because they have already chosen to believe this or that personality or newspaper.
All we can do is keep calm and move on. Sooner or later more and more will see what is wrong and what is right. I don't have a better solution than doing... what we already do.

In my country it was the currency that has got chips. Demonetization took place and as a result entire currency in circulation is removed and new currencies were added. By the time it was said, new currencies have got chips that'll keep track of transactions and this will lower illegal accumulation of currency leading to black money generation. Even the media discussed it. So, it is the common people who think different. It is our responsibility to analyse and understand the truth.

[Vaculin]

It's not only what they don't understand, but broader than that. It has been repeatedly subject of propaganda in different forms (criminality, environmental impact etc.), because it doesn't favor authorities, but authorities control the media.

It's also that people don't make great researches and Bitcoin requires a significant time to sit down disciplined and understand what it is.

Its not surprising that bitcoin is indirectly involved in different scams and criminality because even the authorities are also seeing that way. And most likely, what they tend to believe are the things they also want to impart and share to the people. No wonder bitcoin becomes a threat to the government because the people perceived it wrongly. However, bitcoin always gives us opportunities to learn about it, but its the people who always refused to be educated and stay uninformed.

[24Kt]

It's not only what they don't understand, but broader than that. It has been repeatedly subject of propaganda in different forms (criminality, environmental impact etc.), because it doesn't favor authorities, but authorities control the media.

It's also that people don't make great researches and Bitcoin requires a significant time to sit down disciplined and understand what it is.

Its not surprising that bitcoin is indirectly involved in different scams and criminality because even the authorities are also seeing that way. And most likely, what they tend to believe are the things they also want to impart and share to the people. No wonder bitcoin becomes a threat to the government because the people perceived it wrongly. However, bitcoin always gives us opportunities to learn about it, but its the people who always refused to be educated and stay uninformed.

The key to lessen misinformation is getting people educated with this market. However, most people are trying to be busy not to learn this industry. So much so that, they are just relying from hearsay or whatever the media is feeding to the public. It requires effort to read and learn the facts. But not many people are going to the route of investigating the topic on their own. They usually believe what they hear or see, without validating the information they received. But once someone got a hold in this market, and learn the ropes, they are grateful that they discover this market.

[nullama]

Mainstream media is actively pushing against Bitcoin, and a lot of people are just repeating what they hear there.

The more you read about Bitcoin from first sources, like these ones, the more you realize Bitcoin is here to stay, and all the FUD and alts are irrelevant.

[Darker45]

You're not being specific here. Don't you think it's better to share your actual experience so that others might be able to relate and learn lessons, too? Or perhaps warned?

The first thing that comes to mind when you said that "people fear and react negatively to what they do not understand" is the general perception among many that Bitcoin is a new investment class. That may not necessarily be a misunderstanding of Bitcoin, but when solely focused on it, there is a high possibility that fear and panic will ensue the moment the strongest of bears take over the market. Everybody should know the fundamentals of Bitcoin, before anything else.

[cabron]

They need to see proof though that it isn't a hustle. In My experience, I have done something enough that I gave someone some BTC and some altcoin just to make him interested in cryptocurrency trading. After seeing the result and getting funds by just holding those coins, he still doubts and uses the money he got to renovate his home. I thought would drive his interest but just saw him after months working in a company. It's not easy to convince people.

I don't see BTC doing more harm than good since there will always be people who will be late because BTC is limited to only 21M. At least they could get in some altcoins even memecoins.

[bluebit25]

Btc has remained a mystery to the uninformed. People with little or no information are ignorant about everything cryptocurrency and tend to be biased or flat out wrong when sharing information in their local circles. Having little or no knowledge in this, they would be swayed to believe whatever news suits their narrative irrespective of it being right or wrong. Btc,bring a mystery could also be exciting to some people and in their ignorance, would go into the cryptocurrency space with little or no information and would get cheated, duped and scammed and would then conclude that it was a sham all along. Not too long ago, I was among the lot that was ill-informed and got taught a hard lesson. Now, I'm taking it slow, getting new information and doing my own research.
I think people fear and react negatively to what they do not understand

You are referring to your own case rather than what actually occurred. Since the majority of needs are not for the majority of people, and people have access to this market in many ways, you should look at the problem more broadly, because I see that for those who do not have access to this market or have little knowledge, they do not have as much thought as you are thinking. It's easy to see why an industry makes us always have many ways to choose and use it for our own purposes, so don't look at it as a serious problem in this space.

[Nerdy doctor]

You're not being specific here. Don't you think it's better to share your actual experience so that others might be able to relate and learn lessons, too? Or perhaps warned?

The first thing that comes to mind when you said that "people fear and react negatively to what they do not understand" is the general perception among many that Bitcoin is a new investment class. That may not necessarily be a misunderstanding of Bitcoin, but when solely focused on it, there is a high possibility that fear and panic will ensue the moment the strongest of bears take over the market. Everybody should know the fundamentals of Bitcoin, before anything else.

When I first heard of bitcoin, I was exicted about the fact that there's an equally valuable alternative to fiat money. I was also skeptical cause of what the government keeps saying about it not being trusted and to be beware of it. That got me more intrigued. Then, there were folks parading as btc investors and they seemed legit to me. I got some money I had saved and given it to these folks cause I too wanted to invest. I wasn't being smart and I was played for a fool. They took my money and said the price of btc has fallen and my money was gone. I was mad and also hopeless on what to do. I thought this was the scam played on ignorant folks and that the government was right all along. I lost interest in btc after that. I observed the government was always kicking against the use of btc and I wondered why. I realized that cryptocurrency was seen as a threat by financial institutions cause they couldn't regulate and tax it. I decided then to be less hasty about it and quietly do my own research to try and understand it all. It was all a mystery for me but that got me more interested. Even now, I am still learning but not as ignorant as I once was.

[suzanne5223]

Btc has remained a mystery to the uninformed. People with little or no information are ignorant about everything cryptocurrency and tend to be biased or flat out wrong when sharing information in their local circles.

They are ignorant about Bitcoin cause they never open their mind to new possibilities or take their time to study what cryptocurrency is all about and why it's needed.

Btc,bring a mystery could also be exciting to some people and in their ignorance, would go into the cryptocurrency space with little or no information and would get cheated, duped and scammed and would then conclude that it was a sham all along. Not too long ago, I was among the lot that was ill-informed and got taught a hard lesson. Now, I'm taking it slow, getting new information and doing my own research.
I think people fear and react negatively to what they do not understand

Bitcoin never brings mystery and those who are an enthusiast of technology or like doing some research will understand that a form of digital money was once introduced before the creation of Bitcoin when some people ignore the vital aspect of the cryptocurrency system which is "Dyor" there's no one to be blamed but themselves for their naiveness and the hard lesson they learn.

[Quidat]

It's not only what they don't understand, but broader than that. It has been repeatedly subject of propaganda in different forms (criminality, environmental impact etc.), because it doesn't favor authorities, but authorities control the media.

It's also that people don't make great researches and Bitcoin requires a significant time to sit down disciplined and understand what it is.

And those people had done nothing in terms of research and been fooled by those fake media information will surely be ending up on discriminating and saying negatives
on bitcoin which is actually not surprising if you do ask me.They would always be focused into its con's rather than on trying to realize on whats its benefits or simply pro's.
Just let them be on what they are believing because they are just simply missing out the good opportunities of making profits plus having those useful utility
if they would continue to be this close minded.

[decodx]

Throughout our lives, we make an array of wrong decisions, including excessive and impulsive spending, gambling, poor credit, and using financial products and services that we don't fully understand. If we were fully informed and fully rational, and if our cognitive ability were unlimited, we might not act in this manner. Unfortunately, things are quite different in reality. Besides knowledge and reason, our actions are also influenced by feelings, attitudes, and beliefs whose impact on our behavior is sometimes overlooked. In making financial decisions, ignorance, biases, irrationality, and impulsivity can be especially harmful. They can lead to terrible financial decisions and debt accumulation, as well as other problems.

Fortunately, these issues can be addressed. For example, individuals can develop the right attitudes toward money, develop money skills and know how to make informed decisions. They can also develop the knowledge, skills, and attitudes required to make wise decisions regarding their finances. These steps can make a real difference in our financial lives.

[Wexnident]

Btc has remained a mystery to the uninformed.

So as anything else if they don't know jack about it really. I mean to be completely honest, ignorance isn't an excuse anymore with how the world has developed. The internet is there, sources of information are everywhere and to confirm the validity, do cross-checks from different sources. The unknown will always exist and that's why researching and studying are things humans do. To let the unknown become known, and to use that knowledge to handle and use it for our benefit. It's just like how early investors of not just Bitcoin, but any other great company/asset there is today were able to invest and profit off of those they invested in.

[mildmanneredsuffering]

also the well informed. \\

The whole shenanigan bullshit of bitcoin being a better system is fucked

 ya cause crashing every single week is a better system or 80% crashes in a year, or 30% crashes in a day. Bitcoin is sick piece of shit for anyone who's been here from start.

how many times will bitcoin devastate buyers before humanity says "not one more fucking crash or you all will be exterminated in an automated extremely violent war" ?

[Doan9269]

People with little or no information are ignorant about everything cryptocurrency and tend to be biased or flat out wrong when sharing information in their local circles.

This has really pose a critical concern as they tend to bad mouth cryptocurrency on a wrong perspective and  this misconception is really affecting the society and governments at large.

Having little or no knowledge in this, they would be swayed to believe whatever news suits their narrative irrespective of it being right or wrong.

Having little knowledge is equally as having none at all, because knowledge is the key merchandise that helps one not to loose assets and investments and it cannot be do without.

I was among the lot that was ill-informed and got taught a hard lesson.

Lot of people has fallen into the menace simply by being mislead by wrong people, while others fall in the category of unreliable cryptopreneurs who play fair and non transparent deal in keeping information away from newbies.

[kryptqnick]

I think that when a person falls for a scam, loses access to coins or loses money on a crypto investment while being ill-informed, it's not Bitcoin's fault, so it's not right to say that Bitcoin does harm to these people. I lost some money in early days because of using an online Ethereum wallet without having private keys, and the owners basically committed an exit scam. I was new and didn't know the 'not your keys, not your coins' thing, and I, luckily, didn't lose much. But, in any case, I never blamed Ethereum or the crypto market for that event and didn't associate my experience with some inherent risks of the crypto market.
So yeah, it's important to learn, to be careful, and to not spread hate about cryptos if you made a mistake.