Trust in cryptocurrency?

[karmamiu]

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

I think in some time people will trust in crypto. The digital money systems are developing fast, and decentralisation along with blockchain mechanism is the new step in digital banking. The question is will there be crypto-based fiats, or will crypto replace fiats... Also, the world's main fiat currencies inflation is something possible to happen soon, then crypto can be useful.

Soon enough, that will happen. I don't think that fiat will remain as it is in the future because considering the annual increase of inflations, it will open the eyes of the people who took a blind eye because of their trust towards government and for others as well who don't know yet the reality that they are facing as using fiats has been their life for decades already. As of now, everything is still on the process and cryptocurrency is not yet that known in the whole globe, but time will come that it will be used by many.

The question is will there be crypto-based fiats, or will crypto replace fiats

Maybe but I doubt that the latter will happen as crypto, and fiats are different and have their own utility.

And overall it will just go back to the main subject of this topic about trusting the current currency we are using right now. Since what we have observed failed to do so, it will only end up something wjll replace fiats, although for sure right now there is no guarantee that bitcoin and other cryptocurrency could be the ones replacing it, as what we can see about the advancement of technology right now, it is positive that either one of them or there will be new with better ecosystem or overall has the improvements we lacked as of today will somehow replace the inflation filled fiats.

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[suzanne5223]

I don't think the problem is people not knowing the gravity of how the fiat currency gives the government the power to control and also manipulate the economy through the printing of more fiat currency but the problem is some people are not believing in the decentralized ecosystem since it doesn't have the government assurance.

The truth is that people are satisfied with centralized control because they believe that the state, or other governing body, can protect them. Responsibility is the main reason for this, because people are afraid of responsibility, and they are ready to believe the one who tries to guarantee it. But we know many reasons why this outdated system does not work properly.

You are right, people are satisfied with what they have, so we cannot tell them to believe in something new and not yet recognized by the government. But we should not be blamed for their lack of knowledge or weakness because the government and banks have existed for hundreds of years, and the habit of depending on the government has also been formed for hundreds of years. While the decentralized system has only just begun to be known since bitcoin was created, 14 years is nothing compared to the existence of government, so it takes time for people to realize things.

@Cryptmuster
People being afraid of taking responsibility is not the reason. What they wanted is some sort of security that will back the cryptocurrency market because their people are that there is no sort of guarantee that the market won't go to zero in the future. This is why they hope for government assurance before going into cryptocurrency.

@Minor Miner
It is never in the nature of every human to be totally satisfied with what they have and every human has the habit of wanting some more but some people believe some set of people are satisfied with what they have because those people choose to keep their greed in check.
Having said that, we can only tell the people don't believe in something which is not backed by the government about BTC and I am sure its historical record to enough to make the genius mind trust in the decentralized system of BTC.

[Xampeuu]

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

developments that are occurring in this world, of course, started in a generation, as you described, is it possible for all people to know bitcoin, then the answer is yes, when the age category of 40 years and over is no longer there, young people who were previously aged 40 years and over, and of course the people below will certainly be more familiar with bitcoin because they live in an era where many people already know bitcoin, and finally bitcoin can be understood by everyone

[LittleBitFunny]

~snip

Change is constant that what theorist said. The young generation believe that cryptocurrency is legit asset which can change their life one day but the old people but old people still tag Bitcoin as a fraudulent asset. That is one of the major challenges of the age.

Actually, not all. People who are willing to learn and read will understand more deeply. Many people who say just because they hear don't identify further. It is true, many people say Bitcoin is a scam, bitcoin is gambling and the majority of them do not understand before giving judgment. Perhaps when the older generation goes extinct there will be a major shift regarding Bitcoin. Because I believe the current generation of young people are more proficient in technology and more critical of something new. I feel confident Bitcoin will develop better.

Not all, but I also admit the older generation can be a barrier to the growth of crypto. Some are knowledgeable but stubbornly unwilling to change, but some can't afford to understand crypto. The most obvious example is my parents and relatives, they are farmers and are not well educated. Even using Facebook to contact us, they have a lot of difficulties even though we have taught many times, they don't even know how to use online banking, let alone crypto. We don't want to lose our loved ones, but only when our old generation is gone can crypto flourish.

[YUriy1991]

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

We are now living in an era of digital transformation in various areas of life. Now for the question regarding the adoption of cryptocurrency, it's true that not all people know except for the current millennial generation, while it's still like your assumptions. Even though we are aware that blockchain technology offers the potential for security and transparency, to be able to spread it requires mass trust, one of which is consumer protection if they enter and invest. I think this can be a strong stepping stone in playing an important role in building this trust. This is the smallest item in my view.

[Gladitorcomeback]

Actually, not all. People who are willing to learn and read will understand more deeply. Many people who say just because they hear don't identify further. It is true, many people say Bitcoin is a scam, bitcoin is gambling and the majority of them do not understand before giving judgment. Perhaps when the older generation goes extinct there will be a major shift regarding Bitcoin. Because I believe the current generation of young people are more proficient in technology and more critical of something new. I feel confident Bitcoin will develop better.

Totally agree with you that a lot of people who don't know about Bitcoin or haven't taken full knowledge about it.,such people think Bitcoin is gambling or scam, but still there are people among old generation who consider Bitcoin as very profitable and safe investment. if seen, it has come down to us through the people of the old generation.

There is no doubt that our current generation is very intelligent and taking special interest in new technology,but what I found to be the key factor here is that many new generation people are investing in crypto currency to get rich quick. That's why I have often seen new people losing capital. Current generation have seen lack of patience compared to old generation.

Therefore, instead of waiting for the extinction of the old generation, we should educate them and teach the new generation from our experience.

[jokers10]

Not all, but I also admit the older generation can be a barrier to the growth of crypto. Some are knowledgeable but stubbornly unwilling to change, but some can't afford to understand crypto. The most obvious example is my parents and relatives, they are farmers and are not well educated. Even using Facebook to contact us, they have a lot of difficulties even though we have taught many times, they don't even know how to use online banking, let alone crypto. We don't want to lose our loved ones, but only when our old generation is gone can crypto flourish.

Older generation is always conservative and sometimes retrograde. When you'll become older your generation will be the same. So it is not a matter of shaming an older generation, it is a matter of making crypto more user friendly and easy in usage so even someone who is not very familiar with modern technologies can use it easily. No one will be surprised if a granny will use social network now, but 25-30 years ago Internet was too complicated for majority and very few used it. So if to develop crypto further it is not mandatory to wait until generations will change.

[Ryu_Ar1]

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

In this case I only believe in bitcoin, not with anything else
The environment is an important thing and in this case where you ask that if it's talking about the environment that doesn't really follow further about cryptocurrencies then it's very natural about something like that.

When talking about normal or not it depends on perspective too because when you really say something like this among those who are not very knowledgeable about bitcoin and even many don't know or haven't even heard of this then it will feel abnormal but if it is there is a desire there to be in this kind of environment so I think it is normal like in the environment I live in now.

Even so, I personally don't recommend older people to invest especially for those who are already in retirement because I think now is the time for them to enjoy not to plant. but if you really want to learn more then it's not a problem for that.

[BVeyron]

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

The overall acceptance of crypto is dependent on the abundance of business initiatives which accept BTC directly, without transfers to dollar (or other fiats). When the network of "pay in btc" services will be vast and stable, there will surely be a rise in number of people aware of crypto and using crypto.

[Crptomagma]

It is possible due to the fact that the world is evolving but still it needs time is not something that will happen now. The awareness surrounding Bitcoin is not that much but I believe that with time cryptocurrency will soak into our lives and everybody will be seeing it as a normal thing. In all all it needs is experience and time.

[AprilioMP]

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

For countries that still don't fully use Bitcoin as a means of payment in making transactions, it's difficult to feel like a normal thing with a level of trust that is still 50:50 between believing and not.
Some people have heard of Bitcoin as a type of investment that is often discussed. Some again maybe not with too much crypto. Of course this is for those who live in the midst of technological progress.
It will be different from a crypto-friendly country.

[Z390]

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

Trust in crypto or not is a matter of choice, and no one is going to force anybody to invest their money in crypto, it's either you love it or you hate it, but for those who love it, crypto will be here to stay and there will be a better way to make people start using crypto without getting on the bad side of the government, hopefully.

As for those who hate Bitcoin and crypto, it's looking like they will one day look back and see how much opportunities they have ignored, I called them wasted opportunities,  they will regret their decisions of shunning crypto out of their lives as if its a parasite.

Right now, crypto is still facing a lot and the fact that it's not regulated yet many people ate scared for their money and what the government might do against crypto.

[serjent05]

Change is constant that what theorist said. The young generation believe that cryptocurrency is legit asset which can change their life one day but the old people but old people still tag Bitcoin as a fraudulent asset. That is one of the major challenges of the age.
[/quote]

The investment that is poured on Bitcoin does not come only from young people, so I can say that your concept of old people tagging Bitcoin as a fraudulent asset is moot.  Aside from that not all young generation thinks Bitcoin is a legit asset, there will be still a youngster that is conservative and still think that Bitcoin is one huge Ponzi scheme.

Bitcoin investors are a mix of young adults and seniors so I do not think that your so-called challenges of the age exist.  It all boils down to the belief of a person regardless of age, people who think Bitcoin is fraudulent both exist in younger and older generations the same way Bitcoin believers also exist in both generations.

[summonerrk]

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

I remember how in 2016, we were enthusiasts watching the world change by recognizing bitcoin. But unfortunately, BTC is still not known in a broad sense. And I think this is why: even we, experienced people, do not fully trust cryptocurrencies. I mean the reliability of storage. Unfortunately, cryptocurrencies need wallets, and recently I conducted a study on their reliability: the number of hacks, the openness of the code, rating, convenience.
(I want to say that of all the wallets, I would entrust bitcoins only to the Ledger.)
So what im about?
To the fact that I had to use all my knowledge, all my experience. Ordinary people who are not privy to the theme of cryptocurrencies will not do this! They just won't buy BTC. That is, the world is not ready to provide people with understandable, reliable systems. Therefore, there is no trust to cryptocurrencies.

[superman184]

I remember like using a cell phone before using polyponix ringtones, now anything can be used as a ringtone. Previously it could only be used for conversation, now it is multi-functional. Yes. BTC Adoption will continue sooner or later it will be used by everyone.

Everything is just about time and the development of the era which is increasingly sophisticated with the birth of more technology. Bitcoin adoption is indeed possible to continue, but this will not happen quickly because for some countries and people who still see Bitcoin as something new, they will definitely need time to make a decision about adoption. Hopefully this adoption thing can really continue and spread throughout the world because it will make Bitcoin more and more popular in all corners of the world.

[Godlovesyou]

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

Not everybody will know what crypto is, and I don't think there is a time when it will be normal than now that's normal already, the whole world have heard of crypto already maybe few aged people and infants who do not know much about it but let's says bitcoin is popular already as long it didn't crash overnight then generation to come will meet it and it will only get better if the price keep booming and many altcoin are equally growing and affecting both government and individuals positively.

[Minecache]

I remember like using a cell phone before using polyponix ringtones, now anything can be used as a ringtone. Previously it could only be used for conversation, now it is multi-functional. Yes. BTC Adoption will continue sooner or later it will be used by everyone.

Everything is just about time and the development of the era which is increasingly sophisticated with the birth of more technology. Bitcoin adoption is indeed possible to continue, but this will not happen quickly because for some countries and people who still see Bitcoin as something new, they will definitely need time to make a decision about adoption. Hopefully this adoption thing can really continue and spread throughout the world because it will make Bitcoin more and more popular in all corners of the world.

Bitcoin adoption is happening very fast, and it is almost impossible to stop, and no one can stop it. Bitcoin is only 14 years old, and if you compare its age with traditional assets that are hundreds of years old, it is no different than we compare babies to old people. So you can't expect global bitcoin adoption to take only a year or two.

Bitcoin is considered as a digital revolution that will change the entire current monetary system, and to make a successful revolution. We not only need time but will have to trade a lot of things, we should be ready and prepared for that rather than expecting everything to go smoothly and smoothly.

[yohananaomi]

Recently, I've been wondering, and based on the people I live with, I'd say that only 20% of them know what cryptocurrency is.
Sometimes I ask my friend or colleague if he knows what Bitcoin is, and if they're young (20-35 years old), they say, "Yes, I've heard about it. But I don't know much about it."
If I'm talking to older people (40–60), mostly they don't know what it is.

We are living in a world of big changes in every aspect of life. But do you think it will be time when cryptocurrency will come into our lives and be normal for all people? Will people be able to trust crypto?

I'm wondering what your opinion is about this.

Not everybody will know what crypto is, and I don't think there is a time when it will be normal than now that's normal already, the whole world have heard of crypto already maybe few aged people and infants who do not know much about it but let's says bitcoin is popular already as long it didn't crash overnight then generation to come will meet it and it will only get better if the price keep booming and many altcoin are equally growing and affecting both government and individuals positively.

It seems that if you know about crypto, it's clear that many already know, but those who are directly involved in crypto to be able to earn from there, are probably not as big as those who are already familiar with crypto. because those that are directly related to the goal of getting results from crypto, you must always have capital in advance at this time, unlike in 2016 which you can still get from bounties to be active in crypto.

it is likely that indeed they will be constrained by the funds they need to have first, even though they know that crypto is very profitable when they can invest, those who have clear funds will definitely invest in crypto, especially now that the possibility of crypto prices will increase is fantastic.
In my opinion, what you said about the price which will continue to soar, in fact, more and more people will recognize it because they are tempted by the benefits that will be obtained.

[Games.Bitcoin]

Cryptocurrency's trustworthiness is a subject of debate. Blockchain's transparency and security provide a solid foundation, but price volatility, regulatory uncertainty, and scams present challenges. Understanding the risks and benefits is vital for making informed decisions and fostering trust in this emerging financial landscape.

Trust in cryptocurrency remains a multifaceted concept, influenced by factors such as transparency, security, volatility, regulatory environments, adoption, and reputation. While blockchain technology underpinning cryptocurrencies offers transparency and security, the industry still faces challenges in terms of volatility and regulatory clarity. Mitigating risks, promoting education, and implementing effective safeguards are essential to bolster trust in this evolving financial landscape. By navigating the opportunities and challenges surrounding trust in cryptocurrency, individuals and institutions can make informed decisions and contribute to the growth and maturation of this transformative technology.

[Raflesia]

~snip

Change is constant that what theorist said. The young generation believe that cryptocurrency is legit asset which can change their life one day but the old people but old people still tag Bitcoin as a fraudulent asset. That is one of the major challenges of the age.

Actually, not all. People who are willing to learn and read will understand more deeply. Many people who say just because they hear don't identify further. It is true, many people say Bitcoin is a scam, bitcoin is gambling and the majority of them do not understand before giving judgment. Perhaps when the older generation goes extinct there will be a major shift regarding Bitcoin. Because I believe the current generation of young people are more proficient in technology and more critical of something new. I feel confident Bitcoin will develop better.

Things like this can be realized or not now there are many who are like that.
You don't need to go far, in fact, even if there are many new ones in your environment, we will encounter something like this. Getting involved in bitcoin does seem amazing it's just that being in bitcoin without knowing what the goal is clearly this is a bit to be able to say they can make it through to the end.
A lot of people are in bitcoin now just because they followed the steps of some friends or relatives who were already in bitcoin before hoping they could do the same thing to earn money but they don't want more learning because their focus is only on profit so in this case it seems that now there are many people who are in crypto, especially bitcoin, but only some of those who are here want to learn about it, the rest they seem to be affected by the bitcoin hype which is becoming increasingly known.