Can this be the reason some people are afraid to invest in Bitcon?

[Rigon]

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money. However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc. People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

I am also a victim. Wish I had joined this forum earlier.

Bitcoin investment is now not much feared by people. I've seen people invest in Bitcoin with energy now But if the movement of Bitcoin was at a steady state and the price wasn't dumping so much, people would be more dependent on it.However, people are now leaning more towards Bitcoin. There will come a time when people will spend most of their time on this poison coin and take it as the only earning activity.

[adzino]

That is not the reason. They aren't investing in bitcoin because they are afraid of "new kind of  money" like you stated. They aren't because they don't know what bitcoin and crypto currencies are. They aren't aware how it works. They aren't interested in crypto currencies. Or they just think it is some sort of scam because of all the negative media and press that spreads around. In other words, lack of awareness. And I am sure most of them don't because they don't have money lying around to invest in something very volatile as crypto currencies.

[Xampeuu]

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money. However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc. People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

I am also a victim. Wish I had joined this forum earlier.

Bitcoin investment is now not much feared by people. I've seen people invest in Bitcoin with energy now But if the movement of Bitcoin was at a steady state and the price wasn't dumping so much, people would be more dependent on it.However, people are now leaning more towards Bitcoin. There will come a time when people will spend most of their time on this poison coin and take it as the only earning activity.

for those who understand bitcoin, there may be no fear to buy, especially during a bearish season like today. but for those who are still learning even just knowing bitcoin is not legalized by the government, then they will feel scared, especially from the current price of $60k to $20k, so it is natural for them to have doubts, because this volatility does not occur in other markets. or even there are people who are ambitious, so they are afraid to miss the moment, but the market moves not as expected, and they experience panic sell

[ethereumhunter]

We all would have wanted to join this forum earlier but sadly, we can't go back to those days and can only live our days trying to have more bitcoins. But if you have decided to invest in bitcoin, you should know the risks and learn to reduce them from getting bigger. Don't be afraid like people out there because every investment has risks and depends on how much we can understand and reduce the risks. By continuing to learn from time to time, our understanding will increase, which can help us make a future profit.

[2stout]

No, this is not the reason, possibly it is for maybe 1% out there.  IMHO the main reason for fear comes from being burned in the cryptosphere for a plethora of reasons.

[GreatArkansas]

There is no one reason why people are afraid to invest in bitcoin, they can be scared away with what they read in the news, their age, or what their friends tell them, they can also be afraid to invest in bitcoin because they lost their funds, or someone they know lost theirs, so many more reasons are possible.
(.....)

Yeah, some people tend to believe in other people or entities compared to their own self or instinct. Even without doing first their own research, they immediately believe without verifying.
Another thing is social media, there are a lot of influencers there that spread FUD sometimes or fall for some traps about scams or Ponzi, these are also one of the many reasons.

[Findingnemo]

Cautious nature about the bitcoin technology resists the people from entering into the field but as an investor the volatility scares them more from my knowledge, bitcoin is not really stable as gold nor exist physically for the people to feel it sooner so everything will take time for people to get used to it.

Remember early ones get more benefits so you're one among the early investor so happy about being a part of it and starts moving forward.

[davis196]

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money. However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc. People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

I am also a victim. Wish I had joined this forum earlier.

There's no point of of trying to find a psychological explanation of why the people are afraid of Bitcoin.
The vast majority of the people simply hate taking risks and that's perfectly fine. Investing is inevitably related with taking risks.
There are two big reasons why the people are afraid of Bitcoin/crypto:
1.Price volatility and constant FUD creates the fear of Bitcoin price crashing down to 1K USD or below.
2.The countless amount of Bitcoin/crypto scams. No wonder why many people don't want to use BTC/altcoins. If I was a complete newbie in the world of crypto, I would be afraid to put my hard earned money in crypto as well.
Joining this forum isn't something that you should be afraid of.

[Kakmakr]

I think most people wants to conform to the norm and they are wary to challenge those norms and standards. We live in a world where most people live like sheep. There are only a few people that will have the courage to test something "new" and also to push the boundaries of what the society deems to be the standard.

The educational (FIAT) system, still teach the old school financial tools and structures, so we should focus on adding "new" tools and ideas to that system. 

[Poker Player]

I am also a victim.

The sooner you get rid of that garbage victim mentality the better. That mentality is promoted a lot by socialist-leaning politicians offering you the supposed solution that they are going to save you. Garbage. You have to take charge of your own destiny.

As for Bitcoin, apply this. If you haven't started investing, start now, but first get a lot of information about what it is and decide why you want to invest. If you do not have much experience it is better to invest for the long term, at least 4 or 5 years and do DCA, which means that you buy as much as you can weekly or monthly. How much can you afford? $50 a month? Then go for it.

[justdimin]

People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

We are only taught to be afraid with god but not in any other things. You won't grow as a person if you will have that kind of mindset. It is okay to make mistakes as a starter but it's always possible to improve.

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money.

We have another type of money before cryptos came in (paypal for instance) and people didn't reject it. I think that is because its government oriented but cryptos are completely opposed to that. People think it's an illegal type of currency, add in the fact that it's also being used on buying drugs, gambling and money laundering.

However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc.

Those who visit crypto exchanges are the people that are involved in cryptocurrencies already.

[goldkingcoiner]

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money. However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc. People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

I am also a victim. Wish I had joined this forum earlier.

People are always afraid of taking risky decisions. Especially when they could lose their hard earned money if things go bad. This is a natural human reaction and there is nothing surprising about that fact.

This fear can easily be remedied by simply learning more about the risky thing. Knowledge sets you free from fear.

In the case of Bitcoin, it's not that easy to learn everything about it, especially if you do not have the technical background
. Most people invest in the hype while staying in the dark about why Bitcoin is so great. Hence their fears do not go away and they act on those fears and lose money.

[xSkylarx]

The main reason why some people are afraid in investing into bitcoin is its volatility. Your amount of money could become half of its original value if you bought during bull cycle and a bear season occurs.  If you have a weak emotion, you will sell it at a loss and never invest to it again thinking that this is a scam.

Government that are against to cryptocurrencies and the mainstream media portraying bitcoin as currency used by criminals also adds to that scare preventing people to even learn the basic fundamentals.

[ultrloa]

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money. However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc. People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

I am also a victim. Wish I had joined this forum earlier.

You are afraid because you don't know anything about it and you are coward to go out on your comfort zone that's why you feel that crypto or bitcoin is so shady. But if you are been educated about the technology of bitcoin and accept the positive information came to you for sure thus fear will be replaced by eagerness to invest and try to use or avail the huge potential of this coin.

[Vaskiy]

People have moved from one method of payment system to the other. It means from traditional way of using fiat cash, now majority of the people are used to the digital method of payment. This is all because the fiat getting a digital format and nothing different. Here with cryptocurrency they find it different because of this being virtual. Slowly people will understand the technology, until then it's our responsibility to help those people understand it in the right way.

[lovesmayfamilis]

I think it's okay to be afraid of what you don't understand. Until a person understands and has studied Bitcoin, let him be afraid. And he will be right. So he will be able to secure his fiat money, which many of us do not fly from the sky. You need to enter the cryptocurrency with careful steps, without rushing. Stepping from one topic to another, we begin to understand and decide for ourselves whether we need to invest or not. Many on the forum teach beginners to buy Bitcoin and hold. But I witnessed how a person was helped to buy and then, deciding that he would soon increase his finances, the person calmed down and began to wait. At the same time, he doesn't know how to store what he owns. In the end, he just got scammed. He saw his account but did not own it. Therefore, haste always puts obstacles on us. Just rely only on yourself. Do not know or do not understand; bring your knowledge to the point where you understand. You don't need to trust anyone.

[kamvreto]

People have moved from one method of payment system to the other. It means from traditional way of using fiat cash, now majority of the people are used to the digital method of payment. This is all because the fiat getting a digital format and nothing different. Here with cryptocurrency they find it different because of this being virtual. Slowly people will understand the technology, until then it's our responsibility to help those people understand it in the right way.

people slowly understand about digital, all kinds of payments using digital. Fiat has indeed switched to digital, but Fiat is still centralized or still regulated by the government while cryptocurrencies are really decentralized or not regulated by anyone. Currently, there are many cryptocurrency payment gateway applications that can be used to pay anything using cryptocurrency easily. this is just a regulatory issue that is still not felt.

[kro55]

The main reason why some people are afraid in investing into bitcoin is its volatility. Your amount of money could become half of its original value if you bought during bull cycle and a bear season occurs.  If you have a weak emotion, you will sell it at a loss and never invest to it again thinking that this is a scam.

Government that are against to cryptocurrencies and the mainstream media portraying bitcoin as currency used by criminals also adds to that scare preventing people to even learn the basic fundamentals.

Its high volatility scares people away but it is also that volatility that attracts so many people to bitcoin. I think the main reason people are afraid to invest in bitcoin is none other than the government, the government is still the highest voice of a country and they govern us. Everyone believes what the government says, as long as the government spreads bad news for bitcoin, people will be wary of bitcoin.
Nowadays with the development of social networks, the truth is spread everywhere so they will not be able to stop bitcoin forever, at some point they will have to admit that they have failed in trying to stop bitcoin.

[Rockstarguy]

The typical human mind initially considers the fictitious drawbacks and rejects the possibility of another type of money. However, a growing number of individuals are visiting exchanges like Binance, Primexbt, Kraken, etc. People are afraid because they were taught to be afraid as child. This is, unfortunately, what the educational system does.

I am also a victim. Wish I had joined this forum earlier.

People are afraid of bitcoin because bitcoin is volatile,  they hate to experience the dip of bitcoin and hodling bitcoin is so terrible for them because it seems to be waste of time. They prefer ponzi schemes because ponzi schemes assures people of getting back double of what they invested.  They feel bitcoin is too slow to give them the profit they want, they don't hate bitcoin because it is a new money.

[cheezcarls]

Before we became experienced in Bitcoin, we were afraid in the first place on what would happen to our money if we buy BTC. It’s because we have lack of education in managing our risks. It’s really normal for us to have this kind of experience in the first place. I can relate to all since the day I was introduced into Bitcoin.

Education is the key for us to minimize our worries in buying Bitcoin at least. But it’s better for us first to learn proper financial risk management before we decide to buy any asset like Bitcoin as it has no promises or astronomical guaranteed returns.