Bitcoin overshadowed by economic lie

[AbuBhakar]

Bitcoin exist for over a decade yet there’s only few percentage of the human population is involved on Bitcoin investment. Not because that the majority of people is not aware nor exposed but because they are the victim of economic lie such disinformation towards Bitcoin through negative propaganda of Banks.

We are all being feed of wrong information of economic norms by the billionaires that benefiting the current system. Bitcoin is the best asset to invest in terms of price growth on long term period yet people are still scared to touch due the wrong information given by the main stream media.

In the country that I live, Bitcoin has a stigma of being a scam because our own government warn the public to not engage on Bitcoin investment due to a lot of scam involves it and the volatility is high. Most of the people here including the old professional don’t dare to touch it despite Bitcoin already has good price history.

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[Z-tight]

I feel at 14 years BTC can still be called a new currency or asset, just over a decade is not enough time for BTC to spread through most of the percentage of human population. BTC adoption has been very good since it was created until now, but mass adoption will take a very long time.

It is not only lies from the banks that is holding adoption down, it is as a result of many factors all put together. BTC is a currency and an asset too, but there are older currencies and assets that most of the world's population trust well more than BTC, and it will take more than 14 years for that to change. Collapsed centralized exchanges and services, which i know has nothing to do with BTC has made many people afraid of using BTC, people who do not know anything about BTC think centralized exchanges are BTC banks, some of my friends even call it that, so when they hear over the news that X or Y centralized exchange collapsed, they do not want to go anywhere near BTC. There are many other factors too, and only the knowledgeable can understand the truth about BTC, but so many people are very lazy to find that knowledge.

[AbuBhakar]

I feel at 14 years BTC can still be called a new currency or asset, just over a decade is not enough time for BTC to spread through most of the percentage of human population. BTC adoption has been very good since it was created until now, but mass adoption will take a very long time.

Agree mate! BTC adoption is always subjected on ups and down because bank is always doing something just to bring down Bitcoin while the solid Bitcoin community slowly building again through unwavering dedication of trusting Bitcoin. CBDC, Banks targeting crypto project like US/Terra to create panic on crypto market and other negative propaganda.

I’m actually happy that Bitcoin still strong in the face of economic crisis. US economy is crumbling yet people still choosing to invest on Bitcoin as an alternative to dying banking system.

[Raflesia]

Well, what @Z-ketat said can actually be representative because indeed I still agree in saying that a decade is of course still not enough and this is still a short time to give confidence to the general public about bitcoin.
Pros and cons always happen and people who don't like how bitcoin grows will obviously make it look like bitcoin is something bad so that people who can be said not to know about this will think that bitcoin is indeed a bad tool and lots of crime there.
But I think it's only a matter of time, because sooner or later everyone will become familiar with bitcoin and their views may change over time.

[fathafraink]

The spread of misinformation does indeed hinder public adoption of crypto, but I believe that eventually the public will wake up to its advantages and why they should invest in crypto in general. In the country where I live (Indonesia), we have seen adoption increasing year by year, until by 2022 it is estimated that around 12 million people (4.5% of the population) have adopted crypto ^[1]. Different from 1 year earlier which was at 7.2 million people (2.66% of the population) ^[2].

I still firmly believe that eventually, the big men in the mainstream media will also adopt crypto, and then there will be no more fear and misinformation spreading.

References:
[1] https://triple-a.io/crypto-ownership-indonesia-2022/
[2] https://triple-a.io/crypto-ownership-indonesia-2021/

[Lorence.xD]

That's what I've observed to people nowadays. Certainly they would prefer to well known money saving such as bank since they also mention it at school, on how does it work and etc. Bitcoin doesn't get the recognition it deserves, some schools doesn't even enlighten youngster about the powerful impact of Bitcoin, only few schools around the world that acknowledged Bitcoin as a subject. Since it might be complicated for them to teach it at schools. Also many people prefer centralized system as they give them assurance and security for their funds unlike to the decentralized (Bitcoin) which is open to fraud and scams. The volatility the Bitcoin holds also hinder them to acknowledge it as they only think Bitcoin as an complicated alternate currency. If you ask people in here about Bitcoin, majority would think it as a "scam" or "complicated system" which is true because you would need a prior knowledge in this industry.

[bangjoe]

I feel at 14 years BTC can still be called a new currency or asset, just over a decade is not enough time for BTC to spread through most of the percentage of human population. BTC adoption has been very good since it was created until now, but mass adoption will take a very long time.

Agree mate! BTC adoption is always subjected on ups and down because bank is always doing something just to bring down Bitcoin while the solid Bitcoin community slowly building again through unwavering dedication of trusting Bitcoin. CBDC, Banks targeting crypto project like US/Terra to create panic on crypto market and other negative propaganda.

I’m actually happy that Bitcoin still strong in the face of economic crisis. US economy is crumbling yet people still choosing to invest on Bitcoin as an alternative to dying banking system.

People who are used to the rhythm of the crypto market will definitely not be easily swayed by the fud and propaganda that is being carried out. Now the problem is a misperception in various circles of society who consider all events against altcoins to be the point of destruction of bitcoin, as before MT.gox from that day many said that bitcoin would die and there was a lot of Fud and propaganda being carried out to bring down bitcoin, and I admit that it has become a culture of the crypto market and that causes extreme polarity in bitcoin.

I think it's only natural that more people are still investing in bitcoin because most people still believe that bitcoin will come back and take them even higher. bitcoin became an escape for the failure of banks in America which caused attention and trust to shift towards bitcoin.

[teosanru]

Bitcoin exist for over a decade yet there’s only few percentage of the human population is involved on Bitcoin investment. Not because that the majority of people is not aware nor exposed but because they are the victim of economic lie such disinformation towards Bitcoin through negative propaganda of Banks.

We are all being feed of wrong information of economic norms by the billionaires that benefiting the current system. Bitcoin is the best asset to invest in terms of price growth on long term period yet people are still scared to touch due the wrong information given by the main stream media.

In the country that I live, Bitcoin has a stigma of being a scam because our own government warn the public to not engage on Bitcoin investment due to a lot of scam involves it and the volatility is high. Most of the people here including the old professional don’t dare to touch it despite Bitcoin already has good price history.

I think more than the economic lie it's about the inherent nature of bitcoin as well. Like it's volatility, it's a big issue for everyone. If someone invests it's saving earned as a salary or basically earned outside the crypto world he/ she will obviously repent investing when he loses money because this isn't how traditional savings and investment works. But yes the big lies also have some effect on Bitcoin's adoption.

[royalfestus]

We need to address the FUD with caution, as this isn't the first economic crisis in an approaching bull market. In the aftermath of COVID, the market went downhill for a short period of time before returning to normal. We have been in this political/economic crisis for a long time now, and it will take a long time before we know how the world market will do beyond the bull market

[Z-tight]

Banks targeting crypto project like US/Terra to create panic on crypto market and other negative propaganda.

Stable coins are very different from BTC, and i don't think banks are targeting them, they have always been risky cryptocurrencies that can lose their peg, or even be frozen in their user's own wallet, if you want this discussion to be about BTC, you'll leave out stable coins and altcoins.

I’m actually happy that Bitcoin still strong in the face of economic crisis. US economy is crumbling yet people still choosing to invest on Bitcoin as an alternative to dying banking system.

The U.S economy and fiat banks troubles is the gain for BTC, that way people would look for alternatives and BTC is the best second choice currency to fiat, so if there is more trouble for the banking system, most of the funds would be pumped into BTC and it is good for the BTC network and price.

[The Cryptovator]

In addition to spreading misinformation about Bitcoin being solely an investment asset, we are also failing to educate people on its technology and potential applications. This narrow portrayal is quite misleading, as it causes people to become apprehensive about the volatility of Bitcoin. While investment in Bitcoin is one possible use, it was not the primary purpose for its creation. Therefore, it is crucial that we disseminate accurate information about Bitcoin to dispel any economic fear, including its technological features and potential applications

[ancafe]

Bitcoin exist for over a decade yet there’s only few percentage of the human population is involved on Bitcoin investment. Not because that the majority of people is not aware nor exposed but because they are the victim of economic lie such disinformation towards Bitcoin through negative propaganda of Banks.

There are many problems caused by banks, scarcity of money, profit sharing systems that are not profitable for customers and many other lies about saving money that we have and you never know how they use our savings to create profits.

We are all being feed of wrong information of economic norms by the billionaires that benefiting the current system. Bitcoin is the best asset to invest in terms of price growth on long term period yet people are still scared to touch due the wrong information given by the main stream media.

Not for now, right? because there are already many individuals and groups who have accepted bitcoin, if you already know that then stop connecting anything because there is no point in trying to damage the existing system and you should just focus on the investment you are running. Negative news released by the media will not be able to kill bitcoin and even if the government tries to stir up this kind of thing to stop it.

Keep calm and buy to the best of your ability, because we are about to see a much bigger future for bitcoin now and in the future. There is a lot of adoption happening and now people have proven that bitcoin is the best asset for long term investment.

In the country that I live, Bitcoin has a stigma of being a scam because our own government warn the public to not engage on Bitcoin investment due to a lot of scam involves it and the volatility is high. Most of the people here including the old professional don’t dare to touch it despite Bitcoin already has good price history.

Where do you live and how does the bitcoin process work in your country?
Has the current increase in adoption been slightly better than before?
What is the percentage increase and engagement of people towards bitcoin to date in your country?

[Mr.suevie]

I feel at 14 years BTC can still be called a new currency or asset, just over a decade is not enough time for BTC to spread through most of the percentage of human population. BTC adoption has been very good since it was created until now, but mass adoption will take a very long time.

It is not only lies from the banks that is holding adoption down, it is as a result of many factors all put together. BTC is a currency and an asset too, but there are older currencies and assets that most of the world's population trust well more than BTC, and it will take more than 14 years for that to change. Collapsed centralized exchanges and services, which i know has nothing to do with BTC has made many people afraid of using BTC, people who do not know anything about BTC think centralized exchanges are BTC banks, some of my friends even call it that, so when they hear over the news that X or Y centralized exchange collapsed, they do not want to go anywhere near BTC. There are many other factors too, and only the knowledgeable can understand the truth about BTC, but so many people are very lazy to find that knowledge.

That's why this saying always comes to light@ "knowledge is power" the lack of knowledge about can make you feel or think  backwards towards that thing, like you said so many factors contribute to the limitations of bitcoin not been spread across the world population and that 14 years is still not enough for the spread to be achieved everywhere , which I agree but one thing I know for sure is that bitcoin is an economic evolution that will slowly be put into place no matter the setback it's currently experiencing now, it's just a matter of time and the adoption in Africa though is rather fascinating and me knowing about bitcoin was a result of this massive awareness going on in my locality.

[Merit.s]

The government is discouraging its citizens from investing in bitcoin because they want the people to live in the captivity of their banks and don't want them to have financial freedom. Instead of telling their citizens the truth about the important and benefit of bitcoin but it is the other way round. Social media is also a hindrance to Bitcoin adoption by people, they will feed the people with all sort of lies and when any exchange crashes,they see it as an opportunity for them to fuel their lies and propaganda on bitcoin. All these FUD will not last for long because in no time when the citizens have come to understand that bitcoin is a life saver and also a volatile asset,they will hate the government for depriving them from their freedom to choose their choice of currency to invest on. This is the main reason why we that have the proper knowledge of bitcoin should continue to educate people around us the basics of bitcoin so that they can understand that it is not a scam project.

[BIT-BENDER]

It won’t call Any criticism against Bitcoin as an economic lie. You only need to check the meaning of economy and you would know that’s not an enemy of bitcoin I believe you meant government lies against bitcoin.

Well every one has access to the internet and can read up articles  And news even with the propaganda by government forces against bitcoin even in my country crypto-currency is frowned at I still make use of the internet and news and can decide which is best for me as an individual.

[Asiska02]

BTC was introduced only a decade ago, and in my opinion, it is still in its developmental and early stages to have been fully adopted by everyone in the world. There is still a long way to go before all BTC is completely mined and in circulation. However, its use has increased significantly in some parts of the world over the years, owing to accurate and factual information provided about it in those regions and bitcoin enthusiasts disseminating accurate information about its potential.

Governments, as well as the banks that work for them, have hampered the global adoption of bitcoin. Negative news and events surrounding bitcoin have been completely blamed on it, scaring people away from using it. As people who believe in bitcoin and its potential, we must take the initiative to educate our close environment about the future applications and technological advancements that bitcoin entails.

[panganib999]

It won’t call Any criticism against Bitcoin as an economic lie. You only need to check the meaning of economy and you would know that’s not an enemy of bitcoin I believe you meant government lies against bitcoin.

Well every one has access to the internet and can read up articles  And news even with the propaganda by government forces against bitcoin even in my country crypto-currency is frowned at I still make use of the internet and news and can decide which is best for me as an individual.

In certain scenarios, targeted attacks against bitcoin and cryptocurrency based on biased information and data is pretty much an economic lie. For instance, the current pledge that the US Senator Warren committed on today is something that I could consider as a targeted attack based on lies that the media and the government had put out to put bitcoin in a bad light. This declaration of an attack thereof is already a move against the reputation of bitcoin in the country, coz in the minds of those who are none the wiser when it comes to crypto, the attacks are justified and must therefore be necessary.

There's criticisms which of course is integral to the growth and development of this industry, as those just give us newer ways to improve upon and add features that are never before seen, and there are blatant attacks.

[majeed]

Bitcoin exist for over a decade yet there’s only few percentage of the human population is involved on Bitcoin investment. Not because that the majority of people is not aware nor exposed but because they are the victim of economic lie such disinformation towards Bitcoin through negative propaganda of Banks.

We are all being feed of wrong information of economic norms by the billionaires that benefiting the current system. Bitcoin is the best asset to invest in terms of price growth on long term period yet people are still scared to touch due the wrong information given by the main stream media.

In the country that I live, Bitcoin has a stigma of being a scam because our own government warn the public to not engage on Bitcoin investment due to a lot of scam involves it and the volatility is high. Most of the people here including the old professional don’t dare to touch it despite Bitcoin already has good price history.

I hear ya when you say people are wary of investing in Bitcoin, even though it's got mad potential benefits. It's true - the media is always spreading negative vibes about it, saying it's too risky. That's not always the case.

You gotta get informed, bro, and understand the risks and rewards of investing in Bitcoin. Yeah, it's had some wild swings, but in the long run, it's been nothing but gains, with some major price growth. And guess what? The experts predict that Bitcoin's value is only gonna go up in the future. So, don't be a sheep, dude - invest in Bitcoin like a boss!

Now, about the government's warning about scams - yeah, there are some unscrupulous characters out there. But plenty of legit folks and companies still use Bitcoin for legitimate investment and payment purposes.

My advice? Don't let fear or negative hype stop you from potentially benefiting from Bitcoin's growth. Learn all you can, assess your risk tolerance and investment goals, and make an informed decision.

[Dr.Bitcoin_Strange]

Well, the fact that some countries have banned Bitcoin is also another factor that is reducing the adoption of Bitcoin, but never say never. If we look back in history, the number of Bitcoin addresses and transactions that have taken place since 2009 have increased every year, which means that every year there are a lot more people who are also adopting the Bitcoin technology. There will be more value for Bitcoin in the future, and more people will adopt it.

[hatshepsut93]

Not because that the majority of people is not aware nor exposed but because they are the victim of economic lie such disinformation towards Bitcoin through negative propaganda of Banks.

If banks were so anti-Bitcoin, they would've banned it a long time ago and lobbied the government to do so too. But none of this is happening, in fact there are many banks that try to integrate Bitcoin. Bitcoin is not a big threat to banks, because people don't use it as a currency.

We are all being feed of wrong information of economic norms by the billionaires that benefiting the current system.

Billionaires are a result of free market. Bitcoin is not against the free market, in fact the libertarian ideology that is popular among the bitcoiners would lead to even more billionaires and inequality. Billionaires will always be in profit, no matter what currency people use.