Does the world still see Bitcoin as a scam, or is it just a lack of interest?

[Road21Bitcoin]

Does the world still see Bitcoin as a scam, or is it just a lack of interest?

To offer some perspective, the 'world' does not see Bitcoin as a scam now nor were they uninterested but because many people do not know of its existence. If you are someone who uses or was raised with the Internet it seems impossible that there are still people who are unaware of Bitcoin or cryptocurrency so maybe you feel safe to assume that people who do not use or buy crypto think it's a scam or is not interested. Many people in my country are only coming around now about the concept of digital wallets, so even if Bitcoin is around for over a decade, it will take longer than that to fully make people aware of its existence and much longer to educate them about its advantages and how to not fall for scams and frauds.

[MainIbem]

It's not lack of interest but rather I think they don't believe in bitcoin reason being that if they knows the importance of bitcoin from the first day it was launched then I would say they might have taken part. Usually before they could venture into investment it should be they have a good knowledge on what it's all about, it's very hard to accept the risk factors that comes with bitcoin investment so to anyone who is investing needs to have all these at the back of their mind.

[avikz]

The general perception of Bitcoin is still negative. I mean things are changing slowly and surely but we haven't yet reached a position where Bitcoin can bring in trust from the common mass. Honestly in many countries banks are actively running campaigns against Bitcoin. I often received Mailers from my bank regarding Bitcoin which is generally negative in nature.

Also the old age people are not much interested in knowing about technical innovation. The reason is very simple. This age group is not really comfortable in using computers. So Bitcoin is definitely very complicated for them. But things are changing, that's the only silver lining here.

[Aanuoluwatofunmi]

This question has been raised several times, and I have noticed that some people conclude that the lack of adoption is due to people not understanding Bitcoin or seeing it as a scam.

We have freedom of speech which anyone could choose what to say and when, the first year bitcoin was introduced, many begin to say manners of things concerning bitcoin because they had been once in a shoe of getting scammed, cheated on way or the other and they have lost their investments especially on digital technologies online and wouldn't want to believe or gear anything associated to online digital networks.

But I don't think the world still views Bitcoin as a bad thing today, though I know a lot of you thought that, but it is not the case.

Some still have that kind of ugly look on bitcoin but the mistake i see them doing is for them to have made that on other crypto projects believed to be fake and full of scam, to the greatest surprise, this same people may later decides to give a try but fall in hands of the scam project because of their inexperienced in bitcoin or cryptocurrency at large.

[jossiel]

When someone don't have enough knowledge about bitcoin, it tends out that they lack interest on it because how they can be interested on it if they don't know much about it at all?

While there's no doubt that there will be people that still sees bitcoin as a scam and count those people like Warren Buffett and they're closed minded that will never change their minds about it.

[Pandu Geddon]

This question has been raised several times, and I have noticed that some people conclude that the lack of adoption is due to people not understanding Bitcoin or seeing it as a scam.

if you've seen this question a few times, you don't need to create it again. if you find it why not continue with your idea?

I feel the reason for the low rate of adoption is just because people think it's not for them. Bitcoin has been around for over a decade, and any thought that most people would have had about it being a scam must have faded by now.

some major cases are so well constructed to create a negative public view of Bitcoin. you can see every FUD that is in the media at any time. the truth is also not certain but the impact on market fluctuations could happen.
you can see it like an exchange hack or a popular project crash. it makes the condition of Bitcoin also affected. and it all builds people's views of Bitcoin.

But at the same time, if you look at it, Bitcoin is a risky business; if you invest money, there are two possibilities: it will either yield profits or losses. Many people today are not fans of investment, not to mention buying assets that heavily fluctuate in price. They would choose to save money earned from hard work, and a few might invest in low-risk markets, even though inflation is still eating them up.

but these days, those holding the market are young people who are willing to take risks. not people who only think about the security of assets like they keep fiat in the bank. Young people prefer to invest their money. This awareness is currently popular among young businessmen.

So it would be hard for them to consider holding Bitcoin to use it daily.

Everything is constrained by regulation. if the government paved the way for higher adoption of every use of Bitcoin. it's going to be a big moment that we can see for real.

[Wakate]

It's not lack of interest but rather I think they don't believe in bitcoin reason being that if they knows the importance of bitcoin from the first day it was launched then I would say they might have taken part. Usually before they could venture into investment it should be they have a good knowledge on what it's all about, it's very hard to accept the risk factors that comes with bitcoin investment so to anyone who is investing needs to have all these at the back of their mind.

We all have different opinions when it comes to Bitcoin so anything people think about it is left to them. Bitcoin had been working well for pepper who know the value and all it entails. For the newbies that do not know the advantage of investing in Bitcoin, they may see it as a risky attempt that would not give them enough profits since they have not tried it out.
When you go to the rural area to tell people about Bitcoin, they may see it as a ponzi scheme that could crash anytime since they don't have the understanding about what they could gain holding Bitcoin and investing in it.

[abel1337]

People who think bitcoin is a scam is victimized by misinformation or lack of proper knowledge about bitcoin. The more you interest you have in a thing is the more you understand it. I think people just don't have interest in bitcoin that's why they can easily label it as scam but the reality is the opposite. Scammers are just using bitcoin as a tool to represent the scam movement they are doing at the process, The reputation of bitcoin are being tarnished slowly. We have seen this couple of times already even on the HYIP days where scammers are inviting people to invest in bitcoin or other cryptocurrency but the reality is they are luring people into a HYIP scam.

[The Cryptovator]

There are some individuals who may hold the belief that Bitcoin is a scam, but this is not necessarily their fault. Rather, it is likely due to a lack of understanding about Bitcoin and its workings. After all, how could a cryptocurrency, particularly one that is referred to as the "mother coin", be a scam? It's important to consider the definition of a scam and those who are not currently assigning value to Bitcoin may come to regret this in the future, regardless of their wealth. Rather than attributing this to low adoption, it may be more accurate to say that there is simply a lack of awareness surrounding the potential of Bitcoin and how it operates.

[Mate2237]

Both Jr. Members and below and also Full member and above have contributed weell to your thread. As you the op said, this is a frequently asked question in the forum. As it is said, bitcoin and other cryptocurrencies in the blockchain are view differently. Almost all the four (4) cardinal points have known bitcoin in the world so lack of knowledge is not the major priority of the disdain of the asset (s). For my own reasoning the both terms in the topic is involved.

[suzanne5223]

I feel the reason for the low rate of adoption is just because people think it's not for them. Bitcoin has been around for over a decade, and any thought that most people would have had about it being a scam must have faded by now.

Why would anyone believe Bitcoin is not for them if not for the lack of understanding and the FUD they hear about Bitcoin? Let's take it from this angle, you're once one of the people that didn't have an interest in BTC before, aren't you? Why don't you have an interest in it?
It is still the reason today, some are still naive about the true concept of BTC and only believe in negative things someone they trusted said about it.

But at the same time, if you look at it, Bitcoin is a risky business; if you invest money, there are two possibilities: it will either yield profits or losses.

For every great opportunity, there's always a price to pay and the price is the volatility of the market, and the risk involved can be avoided or fixed through holding till the next halving.

[Broadanbig]

I would not say the world sees it as a scam and neither would I say that it is a lack of interest but rather, I would say many people who have heard about bitcoin and are not indicating interest are just sceptical about it maybe due to their experience in the past with Ponzi, scams etc which made them to not put much interest but observing as events unfold it self.

I believe we all know that advertising is a key tool in getting a commodity to the consumers. If bitcoin is properly advertised im the sense that people are taught or told about bitcoin, I believe that Idea of seeing it as a scam would be dropped and people tend to take part in such activities when they see someone close or related to them doing it. That arouses their interest to learning and knowing more about it.

[Renampun]

...
So it would be hard for them to consider holding Bitcoin to use it daily.
Nevertheless, the community is still growing bigger 💗, and people's interest in Bitcoin and cryptocurrency keeps growing.

as long as people are still living under the control of the government, then as long as they will continue to believe what the government says and think that bitcoin is a scam.
if ask to average person, do they know Bitcoin and if are they going to invest in bitcoin, surely the majority will say they don't know and don't want to buy bitcoin, it's all because their brains have been washed in by harsh warnings from the government and the lack of education they receive about bitcoin.
I really believe that the growth of people who accept Bitcoin will continue to be positive and the use of btc in everyday life will also increase, but we don't know for sure when will get there.

[KingsDen]

There are some individuals who may hold the belief that Bitcoin is a scam, but this is not necessarily their fault. Rather, it is likely due to a lack of understanding about Bitcoin and its workings. After all, how could a cryptocurrency, particularly one that is referred to as the "mother coin", be a scam? It's important to consider the definition of a scam and those who are not currently assigning value to Bitcoin may come to regret this in the future, regardless of their wealth. Rather than attributing this to low adoption, it may be more accurate to say that there is simply a lack of awareness surrounding the potential of Bitcoin and how it operates.

And one thing about human being is the inability to change their initial concept or perception about an idea or technology.
It is better they have not been taught anything about any rising technology.
But if they are being taught the wrong thing, the ability to eradicate the wrong idea and incorporate the correct idea is so difficult for humanity to adapt.

Once the sense of scam has been giving them about Bitcoin, so many of them still carry it in their head.
But it is not their fault. There are so many scammers who hide behind Bitcoin to perpetrate their evil. Then Bitcoin is decentralized such that the bad players always find a way to escape using Bitcoin and its subsidiaries.
This is the reason why Bitcoin is always seen as the bad player, especially by the government, who is looking for every possible means to centralize the whole world.

[lonerangerh]

This question has been raised several times, and I have noticed that some people conclude that the lack of adoption is due to people not understanding Bitcoin or seeing it as a scam.

It's unlikely that this is the case today, as Bitcoin has been around for over a decade, and negative perceptions have mostly dissipated. Rather, the low adoption rates may reflect a general hesitation towards a risky investment, especially one with such high market volatility. People may be more inclined to save their money or invest in low-risk markets, despite inflation.

[Davidvictorson]

I feel the reason for the low rate of adoption is just because people think it's not for them. Bitcoin has been around for over a decade, and any thought that most people would have had about it being a scam must have faded by now.

My take on this is that the word no longer says bitcoin as a scam, it is just a simple lack of interest. And this stems from the fact that people have not actually taken their time to understand what Bitcoin and the Bitcoin ecosystem is all about personally I believe that most people are just too lazy to do their own research. They would rather go with the public verdict than their own opinion. This has led to them not being able to buy Bitcoin, store Bitcoin and even make simple payments with Bitcoin.

[panganib999]

This question has been raised several times, and I have noticed that some people conclude that the lack of adoption is due to people not understanding Bitcoin or seeing it as a scam.
But I don't think the world still views Bitcoin as a bad thing today, though I know a lot of you thought that, but it is not the case.

I feel the reason for the low rate of adoption is just because people think it's not for them. Bitcoin has been around for over a decade, and any thought that most people would have had about it being a scam must have faded by now.

But at the same time, if you look at it, Bitcoin is a risky business; if you invest money, there are two possibilities: it will either yield profits or losses. Many people today are not fans of investment, not to mention buying assets that heavily fluctuate in price. They would choose to save money earned from hard work, and a few might invest in low-risk markets, even though inflation is still eating them up.

So it would be hard for them to consider holding Bitcoin to use it daily.
Nevertheless, the community is still growing bigger 💗, and people's interest in Bitcoin and cryptocurrency keeps growing.

You mistake the change of a couple people's minds as a representative of the collective opinion of the people regarding bitcoin. A good portion of the critics still see it as a ponzi scheme, and well, of course there's a good portion of the population still quite ignorant about bitcoin's utilities and its benefits.

I would not say the world sees it as a scam and neither would I say that it is a lack of interest but rather, I would say many people who have heard about bitcoin and are not indicating interest are just sceptical about it maybe due to their experience in the past with Ponzi, scams etc which made them to not put much interest but observing as events unfold it self.

I believe we all know that advertising is a key tool in getting a commodity to the consumers. If bitcoin is properly advertised im the sense that people are taught or told about bitcoin, I believe that Idea of seeing it as a scam would be dropped and people tend to take part in such activities when they see someone close or related to them doing it. That arouses their interest to learning and knowing more about it.

You just debunked your own argument. The people are skeptical of bitcoin's legitimacy? Well because they still think it's a scam. There's just no other reason behind it.

Advertising bitcoin isn't enough. Proper education as well as word of mouth is what's going to expedite this adoption, nothing else. The more you artificially swoon people to choose bitcoin, the more they'd see it as a scam.

[Cryptomiles1]

When classifying scam, I don't think bitcoin is a scam rather it's a lack of understanding or reading broadly to get the required knowledge. Altcoin most times have the ability to swipe investors investment due to the trust and reliability they may seems to have on that coin, maybe people are being scammed today because they are looking for a fast yielding investment that could likely give double of their investment by making the wrong choice of choosing altcoin instead of the mother coin being bitcoin.

[Faisal2202]

This question has been raised several times, and I have noticed that some people conclude that the lack of adoption is due to people not understanding Bitcoin or seeing it as a scam.
But I don't think the world still views Bitcoin as a bad thing today, though I know a lot of you thought that, but it is not the case.

Dear op, you raised a great point as all the other OPs had made by creating similar topics. Even i started a topic by the name of Does People Really Care About Decentralization? which somehow has the same context as yours. So, the point is, there are many reasons behind less adoption of BTC. Such as;

• Less or no education
• Misguided by scammers and newbies
• Stagnant mindset of a person who does not intend to think outside the box
• Religious beliefs as in my religion, many people consider it haram. (Not fair)--> This is the first factor among others that caused less adoption of BTC among my community and AFAIK it's not.

These are some of the main factors in my area which i have observed. How can we overcome it, Only one answer is by guiding them and by educating them. Other than that showing them every stat so that they can decide for themselves.

[Accardo]

Definitely people who question about Bitcoin on Quora will see bitcoin as a scam as it's filled all over the platform, how people got scammed and lost money trying to invest into Bitcoin. Aside that such readers may not bother about venturing into the currency to understand it better, what they see is what they know, so such individuals will call Bitcoin a scam project. However, we all know that they is more to Bitcoin than just seeing it the way people paint it on the internet. Many people made and are still making a fortune through Bitcoin. I think more positive answers about Bitcoin should be circulating on the internet to help newbies stop staying scared.