Trust in cryptocurrency?

[CODE200]

You are right, the challenge of crypto as well as the barrier that prevents crypto from entering the lives of many people, is due to the government. As long as the government orders it to be legally accepted, its dissemination will happen extremely quickly.
Everyone in my locality has heard of cryptocurrency or bitcoin, but the government media always propagates the risks of using it, so most people stay away and don't want to learn about it.

What the government does is to spread awareness in order not to fall into scams because a lot of scammers had used the name Bitcoin to trick innocent people and then just gone. But unfortunately, with that idea, many people have been thinking negatively and they thought that Bitcoin is totally a scam thing. That is why I don't blame people to think that way as well because of the lack of education to make these things clear to them and they need someone who has the dedication to help their locals understand crypto and stop them from believing negatively.

Thats what really happening right now, people who have lack of knowledge about cryptocurrency thinks its a scam because of what they saw on news where lots of people got scammed on it. They easily lose trust on it without giving time on themselves to find what is true. If They only knew how things work on crypto I guess their mind would change somehow.

I agree since as long as government wont legally recognize cryptocurrencies, the impression of many would be that it is only a scheme that would scam them or make their money turn into waste. Although, the world is continuously getting into a more digitalized way of living, majority in my country for example would not be able to adapt, and wont further understand this new currency. But, for those who fully understand the technicality of cryptos and see its potential, trusting it won't be a problem since you know the drill regarding this that you should always check and assess what you are going into.

I guess most people here in the forum are those people who don't have problem on trusting crypto because lots of us already knew what cryptocurrency is and know how thinks work on a digital platform. Yes there are lots of scammer in this platform but that will only happen if you don't be careful on what you are clicking and where you are putting your money and private keys which have access on your wallet accounts.

[deathcode]

...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 development of the current era is increasingly sophisticated and has begun to dominate the digital world in all aspects of our life activities. I think for cryptocurrency to be known and said to be "normal" for everyone it will take a long time. Because at this time maybe it is still the beginning of the development of crypto itself for us humans.
Cryptocurrency at this time in my opinion there are still many who cannot understand it and have it because it has not become a basic human need like fiat money. However, as the digital era develops, little by little the awareness of knowing and trusting cryptocurrencies will continue. Currently, cryptocurrency has become one of the world's concerns.

[RealMalatesta]

What the government does is to spread awareness in order not to fall into scams because a lot of scammers had used the name Bitcoin to trick innocent people and then just gone. But unfortunately, with that idea, many people have been thinking negatively and they thought that Bitcoin is totally a scam thing. That is why I don't blame people to think that way as well because of the lack of education to make these things clear to them and they need someone who has the dedication to help their locals understand crypto and stop them from believing negatively.

Thats what really happening right now, people who have lack of knowledge about cryptocurrency thinks its a scam because of what they saw on news where lots of people got scammed on it. They easily lose trust on it without giving time on themselves to find what is true. If They only knew how things work on crypto I guess their mind would change somehow.

Unfortunately it is such an easy thing to call bitcoin a scam, because there has been a lot of scams in the industry so it is easy to call it a scam. I am not saying that they are wrong, there is a truth in it that there are a lot of companies and projects that are trying to scam you all the time, if you are not careful then you will be scammed so they are right about that.

But that is only the people in the industry, the coin itself is not a scam and bitcoin will always be there to protect your money. If you keep it in fiat, we have seen how terrible things could happen to it whereas if you keep it in crypto  then you are going to be fine about it.

[stadus]

Most of the people around us do not know about Crypto Currency. But those who know as much is through online.  Where I live most people don't know what crypto currency is?  But one thing I have noticed is that if they are asked about Bitcoin they say that they have heard about Bitcoin and they know about Bitcoin from different news media where there are various discussions about Bitcoin. But even if they don't know about Crypto Currency, they have a lot of interest to know about it. If they are given enough opportunities to learn about Crypto Currencies then I think they will learn them carefully and learn about Crypto Currencies.

That is if they are truly showing some signs of interests, yes, I believe that there may be some who have that attitude but that's the end of it because even if they are interested to know about what bitcoin is, they don't show or move like they are indeed interested to know more as they are not doing their own research. I mean, how can we know from such thing that takes our curiosity if we aren't doing something, right?

That said, it's way too obvious why people below 25 years of age do already know about bitcoin because this is their time and aside from that, they frequently see it on the internet, compared to us in our time that we ourselves should be the ones to equip ourselves with knowledge to know the latest news and happenings in the world because I do know that internet is already a thing before 2015 but not this far.

[coupable]

The development of the current era is increasingly sophisticated and has begun to dominate the digital world in all aspects of our life activities. I think for cryptocurrency to be known and said to be "normal" for everyone it will take a long time. Because at this time maybe it is still the beginning of the development of crypto itself for us humans.

We cannot hide that there are major concerns about cryptocurrencies and governments are supporting those concerns by defaulting on adoption. It is a much greater concern than the fear of using fiat money, although cryptocurrencies are much better in many respects.
People do not differentiate between cryptocurrency and the services provided by sites using cryptocurrency. Once some projects turn into confirmed scams, they lose faith in cryptocurrencies as a whole. It is not easy to convince everyone that there is a difference between the two concepts.

[Artem Sereda]

As with any new technology, trust is an essential factor in its adoption. Cryptocurrency has faced a lot of skepticism and criticism due to concerns about its volatility, security, and lack of regulation. However, as the industry continues to mature and address these issues, people may become more comfortable and confident in using cryptocurrency.

I can add that the value of Bitcoin is based on the fact that, unlike all other coins, it has survived more than one crisis, and is still in the top, under Bitcoin are created various projects and technologies.

[MiF]

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 have different sight about the future of crypto, it is normal that there are people who trust and there are also people that did not trust crypto, maybe the people who did not trust in crypto experience huge loss on investing and maybe the people who trust it earn a lot of profit.

[jeraldskie11]

We have different sight about the future of crypto, it is normal that there are people who trust and there are also people that did not trust crypto, maybe the people who did not trust in crypto experience huge loss on investing and maybe the people who trust it earn a lot of profit.

It is certain that many will no longer trust cryptocurrency because of the loss of their investment. Especially if we go back what happened on December 2021, the price of Btc is around $60k, many believe that the price will reach $100k. If we can see in the chart if we look at it again, he broke the "all time high" price. The "all time high" has a lot of supply,  and it is also acting as resistance. So when the ATH price got broken, people expect it to go up to $100k because there is no resistance to be seen above. But the opposite happened, the price of Btc dropped a lot and reached to $16k.
That's why so many people don't believe in cryptocurrency anymore, but they don't know that Bitcoin won't go down as much. It's a battle of institutions and big banks, small traders cannot move or affect the price of Btc.

There's one thing to consider, do you think institutions and big banks let it happen? Surely they have something to do to keep up the price to protect their investments.

[freedomgo]

The biggest difference of young with older people is, the young one has access to any information where you can get any news and stories worldwide just from your device. Mostly people know about bitcoin because of its ATH record, when every news station in all countries mentioned bitcoin every day, and then some big names decided to join the train to invest in crypto. It's a thing that older people don't care, which they only just want to enjoy their retirements.

Talking about trust in cryptocurrency, Switzerland and some countries already take a further step for that. It takes time, but mass adoption is not an impossible thing.

With all the innovations that are taking place in this digital world, it’s certain that only young minds will be able to adopt the changes, but those old ones prefer to stick with the traditional means and just be contented whatever they have been used doing. Like in cryptocurrency, most of the active users are the not so old individuals, while those seniors stay as fiat users. This shows that most old people are not open minded when it comes to cryptocurrency and so it’s expected that they will never trust crypto, unlike those young individuals who love to explore new things around, and seize every new technology that comes, that shows that they are more open to crypto and are more likely yo develop trust in cryptocurrency. Which for me is a good thing, since they are the hope of the future, and are most likely to succeed whatever the world has to offer.

[jayce]

With all the innovations that are taking place in this digital world, it’s certain that only young minds will be able to adopt the changes, but those old ones prefer to stick with the traditional means and just be contented whatever they have been used doing. Like in cryptocurrency, most of the active users are the not so old individuals, while those seniors stay as fiat users. This shows that most old people are not open minded when it comes to cryptocurrency and so it’s expected that they will never trust crypto, unlike those young individuals who love to explore new things around, and seize every new technology that comes, that shows that they are more open to crypto and are more likely yo develop trust in cryptocurrency. Which for me is a good thing, since they are the hope of the future, and are most likely to succeed whatever the world has to offer.

The main challenge is, these old people are sitting on some important positions in the government, which of course, it affects the government policies for cryptocurrency. Not only crypto, there are still some of them who even don't want to adopt new technologies and prefer the old-school style. Obviously younger people are the future, but it might take longer time than we expect for them to develop finance sector especially for cryptocurrency.

[ajiz138]

The main challenge is, these old people are sitting on some important positions in the government, which of course, it affects the government policies for cryptocurrency. Not only crypto, there are still some of them who even don't want to adopt new technologies and prefer the old-school style. Obviously younger people are the future, but it might take longer time than we expect for them to develop finance sector especially for cryptocurrency.

Almost the average government is occupied by old people, so it's not surprising if some of them reject some of the new innovations, including in blockchain technology, maybe because they don't fully understand or they really want to go the traditional way, even though it's done, government policies will still be widely used for the people So do not be surprised if they still have great power in terms of what is implemented in their policies.

Provided that young people already know how cryptocurrency even though it takes a long time but if he later occupies a government position someday then the financial sector in application will be possible in its mass adoption, we must believe that technology is important if it does not develop then a sector will very outdated.

[lousie9]

The main challenge is, these old people are sitting on some important positions in the government, which of course, it affects the government policies for cryptocurrency. Not only crypto, there are still some of them who even don't want to adopt new technologies and prefer the old-school style. Obviously younger people are the future, but it might take longer time than we expect for them to develop finance sector especially for cryptocurrency.

Almost the average government is occupied by old people, so it's not surprising if some of them reject some of the new innovations, including in blockchain technology, maybe because they don't fully understand or they really want to go the traditional way, even though it's done, government policies will still be widely used for the people So do not be surprised if they still have great power in terms of what is implemented in their policies.

Provided that young people already know how cryptocurrency even though it takes a long time but if he later occupies a government position someday then the financial sector in application will be possible in its mass adoption, we must believe that technology is important if it does not develop then a sector will very outdated.

yes, but we certainly can't just blame older people who can't accept today's technological developments because they definitely have their own strong principles that have been formed during their lifetime.
it is true that most people currently sitting in government tend to still think and prefer traditional concepts, although not all of them, but most of them are still unable to be open to existing technological developments.
In my opinion, for Bitcoin to be better known and acceptable to the public, it's only a matter of time, because over time, changes will definitely be made by the next generation in the government or in public to keep abreast of existing developments so that their country is not left behind.

[cozytrade]

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.

I think Bitcoin will be used by almost everyone and know that it will take a few more years. Because the new generations who are now have a lot of interest in Bitcoin. So when these new generations are 35 to 40 years old, everyone will  Hoping to learn about and use Bitcoin.

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 definitely people will believe about Bitcoin.  And especially Bitcoin is the first to be trusted because people are not as stupid as they used to be. Now in the world of technology, people are very wise and can learn a lot. Technology is improving day by day. Hopefully Bitcoin will reach a position where people's daily spending is.  Maybe try to settle with Bitcoin. It will be very soon we may see.

[retreat]

Mass adoption is possible when most countries legalise cryptocurrency.
It may also be that central bank digital currencies will encourage the adoption of popular cryptocurrencies.

I'm not sure that central banks will encourage mass adoption of cryptocurrency, because we know that central banks have their own product, namely CBDC which they claim is an alternative to cryptocurrency and far better in all aspects than cryptocurrency. The central bank with all their efforts will discredit cryptocurrencies and they will do it with the various media they have like CNBC, CNN, etc. or they can manipulate the market by chasing crypto platform owners or other dirty ways so that people don't want to adopt cryptocurrencies.

[wahyuagung26]

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?

Moving in balance on a normal line with ordinary currency maybe I don't think this is, but moving continues to expand one's knowledge in the city or in the hinterland in the village, I think this will happen even if slowly, after all so far Bitcoin has been very developed in various countries others, more precisely worldwide, I think the level of trust in Bitcoin will certainly increase, both from individuals, agencies or other organizations, they will slowly understand it by reading the real Bitcoin background.

This is why I see a lot of opportunities in cryptocurrency.

So far we have all seen opportunities and so have changes because of Cryptocurrency, one of which we take from the great opportunities to make investments, most people with the right measure and timing in developing their strategies for investing in order to get profits they have a very big chance to do it in at all times and this system is effective for those who do long term, and at least this is one of the great opportunities of Cryptocurrency.

[fauzan Ichsan]

The main challenge is, these old people are sitting on some important positions in the government, which of course, it affects the government policies for cryptocurrency. Not only crypto, there are still some of them who even don't want to adopt new technologies and prefer the old-school style. Obviously younger people are the future, but it might take longer time than we expect for them to develop finance sector especially for cryptocurrency.

Almost the average government is occupied by old people, so it's not surprising if some of them reject some of the new innovations, including in blockchain technology, maybe because they don't fully understand or they really want to go the traditional way, even though it's done, government policies will still be widely used for the people So do not be surprised if they still have great power in terms of what is implemented in their policies.

Provided that young people already know how cryptocurrency even though it takes a long time but if he later occupies a government position someday then the financial sector in application will be possible in its mass adoption, we must believe that technology is important if it does not develop then a sector will very outdated.

yes, but we certainly can't just blame older people who can't accept today's technological developments because they definitely have their own strong principles that have been formed during their lifetime.
it is true that most people currently sitting in government tend to still think and prefer traditional concepts, although not all of them, but most of them are still unable to be open to existing technological developments.
In my opinion, for Bitcoin to be better known and acceptable to the public, it's only a matter of time, because over time, changes will definitely be made by the next generation in the government or in public to keep abreast of existing developments so that their country is not left behind.

It's very natural that people aged 35 and over have never heard of bitcoin, that's because the development period has passed, they lived from the absence of cell phones to the digital era as it is today. therefore many of them do not keep up with the times. unless bitcoin is bullish and penetrates a new year, of course there will be a lot of news appearing on television which is accessible to all ages and that is where bitcoin will be widely spread

[karmamiu]

[snip]

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.

If you search for the definition of crypto on Google or other browsers, it will come out that it is a digital currency that is a form of payment.
Unknowingly, many countries around the world are now dealing with it. Digital currency will be an alternative to the fiat currency competition in the market.

Many digital applications (e-Wallets) are being created as a means to pay for things without having to hand over fiat money.
Maybe that's different from the crypto you're referring to, but it illustrates that crypto will be one of the tangible forms of major changes in the world today and the world to come.
You probably know what I mean.

I'll ask you again, do you believe Bitcoin will become a currency that is familiar in normal life?
In particular, crypto is too common and too numerous.

If you ask me that question then, Yes it will. Based on the development of the technology alone for sure people are becoming closer and closer to crypto even those who are not aware of crypto will have an idea what it is. An example is that is here in my country it is already a common knowledge about online banking and mostly they are required to install the application which can be downloaded on the store, although it is electronic banking for them to monitor their finances, slowly the banks are introducing cryptocurrency in their application specially Bitcoin, so even if the user isn't interested about bitcoin and such, they have subconsciously learned about it.

The only problem is how to introduce the concept of crypto, and since the banks are the ones doing that in our country although it isn't legally accepted yet then it is much easier for us to teach them whenever they ask us what is this new feature called cryptocurrency.

[Juliaalaxandar]

Somehow they managed to trust in an experiment - juggernaut standing on 2 thin matches and wobbling from fall to collapse for the last 50 years called "fiat money" AKA paper backed by nothing. The only thing they needed was "bread and circuses".

"We don't need our gold ... just give us piece of paper, its better because its much easier to use... It doesn't matter it lose 97% of purchasing power per 100 year" - that's their attitude.

The question is not about the trust but about the collapse of current system. Thats the only way to shake majority and open their eyes on how modern monetary system changed them into slaves and called them "middle class" with 200$ in wallet and 30 year mortgage on "starter home".

Trust in cryptocurrency is an important factor that affects its adoption and value. Since it is not backed by any physical commodity or government, trust in the technology and the network is essential for users to believe in its value and use it as a medium of exchange.
One aspect of trust in cryptocurrency is the security of the network. Since transactions are recorded on the blockchain, they are immutable and cannot be altered or reversed. This means that users can trust that their transactions are secure and cannot be tampered with.

Another aspect of trust is the transparency of the network. The blockchain allows for anyone to view the transaction history of any given cryptocurrency, which promotes transparency and trust in the system.

However, trust in cryptocurrency is not without its challenges. The decentralized nature of the network means that there is no central authority to regulate and oversee transactions, which can lead to issues such as fraud and market manipulation.

Moreover, the value of cryptocurrency can be highly volatile, which can lead to trust issues among users who may be hesitant to invest in a currency that can fluctuate rapidly in value.

[bettercrypto]

Actually, it's easy to trust or give it, the problem is those who don't know how to research first before giving trust in the industry we're going to enter.

      Now, if you're going to enter cryptocurrency, you should know or have an idea why you're entering here, because it's difficult for those who invest right away without doing any research on the crypto you've chosen, because beginners usually have a negative impression because of the lack of knowledge. here.

[Rupok]

This is an important issue, can people trust cryptocurrency.  Cryptocurrency is electronic money, many people don't trust it and most people don't know about cryptocurrency.However, out of all other coins Bitcoin is the least risky and cryptocurrency investment considered to be very safe.The number of people investing in cryptocurrencies is high among young people and their level of knowledge is also high. This trend is very less among older people, because they have very little knowledge about these accesses.The country is going digital day by day and I think cryptocurrency will come in everyone's life.