Common Bitcoin ideas

[Mia Chloe]

There are alot of reasons people fear investing in Bitcoin especially in my locality. These reasons are numerous ranging from fear of losses , scams , security issues and lots more .I got to understand this by asking a couple of persons what they knew about Bitcoin and if they had any intention of investing sonner . about 98% of them had heard about Bitcoin but only about 10% really understood what Bitcoin was . Of what I could understand I discovered that over 50% of them understood Bitcoin as a get Rich quick scheme which was why most of them thought of it as a scam because they had been scammed through their false idea of Bitcoin as a get Rich quick scheme.
The others which had idea about Bitcoin I discovered were  investors in the Bitcoin space.

This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.

[hugeblack]

The way of presenting Bitcoin as an investment may be wrong, especially since the average joe, who working 8 hours per day, works hard to collect cash and rarely or never invests in his life finds that losing money is easy, so if he buys Bitcoin and the price begins to decline, he will most likely sell his investments.

If you are in a country with many ways to invest, start with a low-risk investment advice and include the explanation to understand how Bitcoin works, why it is a high-risk investment, and how these high risks can be converted into profits.

But if you are in a country where there is rarely investment, I think that inflation may be a sufficient reason to invest in countries and stay away from the local currency, and here Bitcoin may be a good investment if it is long-term.

[ChiBitCTy]

I went to a concert the other day (Nelly and Ja Rule for those that might be interested lol) and on the way there I mentioned bitcoin and a buddy whom was in the back seat of the care stated "bitcoin is a scam".  I quickly turned around and kindly told him as a licensed financial advisor for nearly 20 years, no offense but you've got no idea what you're talking about, it's not a scam.  I calmly told him how many cryptocurrencies ARE indeed scams, but that bitcoin was not.

If you ever want to know if someone truly knows what bitcoin is or not, ask them what a blockchain is.  This for me has been sort of the ultimate was of "busting" people about their knowledge of bitcoin. 

[bittraffic]

I think we have passed that phase anymore. Only those people with no knowledge in what is happening in the finance world will not see Bitcoin as solution. If a person still hasn't seen it coming that we are heading to market crash and out fiat money is losing value yes. That should fear them more than having fear in BTC when after all these years of constantly misrepresenting it to the public, it still has more than $20k of value.

If he thinks BTC is still a get rich quick, he should take advantage of it because its recurring every 4 years.

[iBaba]

I think this kind of response is mostly related to Africa with the experience I have gathered over time. And the reason cannot be far fetched. There are so many African countries that have had a very deep rooted culture of conservativeness, this simple reason has affected the way Africans are react to new ideas and innovations and so on. Bitcoin is more domicile in the Asia, Europe and American, hence the level of awareness there is on the high side.

This has equally given scammers and manipulators the edge to cleverly dupe innocent people in an unscrupulously way as they open their minds to accept the technology. It has also given leeway to fake news and speculations hovering around the space that beclouds the minds of innocent people.

To solve the problem problem is to get as many people as possible to enlighten the citizens on the basic knowledge of Bitcoin. Also to significantly have stakeholders within the coffers of thr government that will introduce policies that will open more doors and awareness on the digital currencies and the Fintech industry.

[Yatsan]

This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.

Help them have the right mindset. What pulls them towards fraud and profit loss is their impression of Bitcoin as an investment; easy and instant profit. They're only seeing how huge the profit was earned from the previous pumps but not the risk endured due to sudden price changes and wrong entry and exit points. Investment is simple; invest at the right price and sell it for a higher price. But why do people still lose money not only in this industry? 'coz of lack in planning and right execution of actions. It is easy to tell the good sides or advantages of Bitcoin but it would be difficult doing the right things because of circumstances and different vision towards this technology.

Some are expecting instant profit and once they encounter a loss, panic will take place and will eventually push them to sell early. Sometimes the simplest things are the ones we often forgot in this field of investment.

[m2017]

There are alot of reasons people fear investing in Bitcoin especially in my locality. These reasons are numerous ranging from fear of losses , scams , security issues and lots more .I got to understand this by asking a couple of persons what they knew about Bitcoin and if they had any intention of investing sonner . about 98% of them had heard about Bitcoin but only about 10% really understood what Bitcoin was . Of what I could understand I discovered that over 50% of them understood Bitcoin as a get Rich quick scheme which was why most of them thought of it as a scam because they had been scammed through their false idea of Bitcoin as a get Rich quick scheme.
The others which had idea about Bitcoin I discovered were  investors in the Bitcoin space.

This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.

98% of respondents from a couple of people, how many people does that make?

I believe that your sample is too small and such statistical surveys need to be carried out with a large array of data (respondents) in order to obtain true data. And besides, the respondents should answer honestly, and not for the sake of jokes and fun, or to leave them behind, as often happens, but really honestly.

How exactly were they deceived that made them consider bitcoin a scam? If at the market an apple seller deceived me during the sale, this is not a reason for me to refuse the apples and consider them damaged goods, right.

But you shouldn’t force people to do anything, especially to understand bitcoin. If people want, they themselves will try to understand the idea of bitcoin. How many of you were attracted to bitcoin here because someone forced you to understand bitcoin correctly or talked about bitcoin with you ? Here's your answer.

[Z-tight]

This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.

Take note that you don't have to make people understand BTC, for your own safety it is better to keep the discussion only between friends and family and only explain further to whomever shows interest.

The only way to avoid being scammed as a bitcoiner is if you understand the BTC network, so that's the way to introduce it to people, make them understand that "BTC is purely p2p electronic cash" that is decentralized, censorship resistant and permissionless, they must understand all these and basic things like wallets, addresses, keys and seed phrases, too many people don't know safe wallets to use, but they own BTC, that's because they learnt they can double their money long before they learnt about BTC wallets.

[alastantiger]

This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.

The demography of the people whom you talk to about Bitcoin should determine the approach to help them understand about it. When you talk to them about Bitcoin I want you to present a balanced view point about Bitcoin in comparison to fiat. Why so is because you want them at the end of the day to make an informed decision based on facts and not on mere sentiments.

Introducing them to the Bitcoin talk forum or any other Bitcoin community is not enough. You should go further to introduce them to books, podcasts, courses and interviews about Bitcoin.

[Nwada001]

This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.

The first approach matters a lot to people. For those who believed Bitcoin was a get-rich-quick scheme, I believe it was based on what they learned about it the first time.

If you want people to view Bitcoin from different perspectives, you need to start by teaching them what you want them to know about it first. For those who already have a wrong idea about it, you need to create awareness of what it truly is. Creating awareness means you will have to teach them about it with illustrations and guidelines on how it should be done, and what Bitcoin really is, not just the name. You also need to teach them about the volatility, security, and other things that it has that one should know before they can invest their money in it.

I also believe it's misinformation that makes most people not invest in Bitcoin, as the majority of people look at the volatility and security in the wrong direction, which discourages them from taking a bold step. But one thing I believe is that anyone who is willing to learn something just needs a little guidance, and they will pick up the research themselves. We don't need to teach everyone everything; self-research is also important to quick learning and understanding about something.

[Faisal2202]

This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.

There have been a lot of discussions on this topic before and many people have shared their insightful ideas to start a discussion. I will not mention any of those threads links here but I will share my suggestion. I also make one topic which elaborates totally, well for me it elaborates totally to teach someone about BTC. You should check this thread out.

To Understand the Potential of BTC, What we Must Know?

You should not only read my post; instead, read the whole thread for better exposure. Besides this suggestion, I would recommend you teach them about BTC and how it is different from banking and traditional finance. The reason they are afraid to get into BTC is that in some countries, it is banned, they also think of it as a rich scheme, which is just a lack of knowledge. I do not want to get into the debate about knowledge.

And I really liked the idea of bringing them onto this forum. I mean, they will definitely learn new things here, and after spending some time, they will learn about BTC, and they will understand your words to them.

[OgNasty]

There are definitely still technical hurdles to owning Bitcoin. For this reason, most of the people I tell to buy Bitcoin I advise that they do so on Coinbase and then secure their login information. More technical friends I of course tell them to go the cold storage route but for people who aren’t familiar with crypto, this is a strange method of securing your money.

[Franctoshi]

I went to a concert the other day (Nelly and Ja Rule for those that might be interested lol) and on the way there I mentioned bitcoin and a buddy whom was in the back seat of the care stated "bitcoin is a scam".  I quickly turned around and kindly told him as a licensed financial advisor for nearly 20 years, no offense but you've got no idea what you're talking about, it's not a scam.  I calmly told him how many cryptocurrencies ARE indeed scams, but that bitcoin was not.

If you ever want to know if someone truly knows what bitcoin is or not, ask them what a blockchain is.  This for me has been sort of the ultimate was of "busting" people about their knowledge of Bitcoin.  

The problem that many people who stayed away from investing in Bitcoin had after hearing of it is that the proper information was not given to them or maybe the experience that some of their close confidants had with investing in shitcoins scams and they will think that Bitcoin is also in that category of scam.

[DVlog]

There are alot of reasons people fear investing in Bitcoin especially in my locality. These reasons are numerous ranging from fear of losses , scams , security issues and lots more .I got to understand this by asking a couple of persons what they knew about Bitcoin and if they had any intention of investing sonner . about 98% of them had heard about Bitcoin but only about 10% really understood what Bitcoin was . Of what I could understand I discovered that over 50% of them understood Bitcoin as a get Rich quick scheme which was why most of them thought of it as a scam because they had been scammed through their false idea of Bitcoin as a get Rich quick scheme.
The others which had idea about Bitcoin I discovered were  investors in the Bitcoin space.

This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.

How exactly were they deceived that made them consider bitcoin a scam? If at the market an apple seller deceived me during the sale, this is not a reason for me to refuse the apples and consider them damaged goods, right.

But you shouldn’t force people to do anything, especially to understand bitcoin. If people want, they themselves will try to understand the idea of bitcoin. How many of you were attracted to bitcoin here because someone forced you to understand bitcoin correctly or talked about bitcoin with you ? Here's your answer.

A survey conducted on a small group of people can provide inaccurate information.

You are right about bitcoin. dishonest behavior of an individual can not represent the value or utility of a product or concept. People who think Bitcoin is a scam don't know much about Bitcoin or have had any bad experiences with it so they think the whole industry is bad which is wrong.

Forcing someone to understand something is not the right approach. We should create a friendly environment where information about Bitcoin will be easily accessible and spread awareness about its benefits in certain scenarios.

[BVeyron]

There are alot of reasons people fear investing in Bitcoin especially in my locality. These reasons are numerous ranging from fear of losses , scams , security issues and lots more .I got to understand this by asking a couple of persons what they knew about Bitcoin and if they had any intention of investing sonner . about 98% of them had heard about Bitcoin but only about 10% really understood what Bitcoin was . Of what I could understand I discovered that over 50% of them understood Bitcoin as a get Rich quick scheme which was why most of them thought of it as a scam because they had been scammed through their false idea of Bitcoin as a get Rich quick scheme.
The others which had idea about Bitcoin I discovered were  investors in the Bitcoin space.

This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.

I think it's quite difficult to understand BTC properly, since we still don't know many things about BTC: we don't know who is the mastermind behind blockchain projects, we dont know the main hodlers, we cant predict the ways of blockchain ecosystem development. That's why nearly all the people consider BTC just as a way to earn fiat as quickly as is possible. And that's why adoption level is still low despite affordable transaction speed level (however, in case of elevation of adoption level we will surely need more miners and more internet connection facilities).

[ZAINmalik75]

There are alot of reasons people fear investing in Bitcoin especially in my locality. These reasons are numerous ranging from fear of losses , scams , security issues and lots more .I got to understand this by asking a couple of persons what they knew about Bitcoin and if they had any intention of investing sonner . about 98% of them had heard about Bitcoin but only about 10% really understood what Bitcoin was . Of what I could understand I discovered that over 50% of them understood Bitcoin as a get Rich quick scheme which was why most of them thought of it as a scam because they had been scammed through their false idea of Bitcoin as a get Rich quick scheme.
The others which had idea about Bitcoin I discovered were  investors in the Bitcoin space.

This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.

You are right, but first of all, think for a second: why did you want them to invest in BTC? Why do you want them to get into BTC or crypto? Let's say someone near or far from me asks me to invest or spend some time or money in this. I will definitely doubt him first of all. After doubting, I will say, "No, I cannot spend the money in BTC.

Because in the way of learning, you must have said them. Invest only with money that you are not afraid to lose. And by saying that, you just raised another red flag in their hearts, and now they might not trust you or the way you are bringing them into crypto. We should not teach someone about Bitcoin until they show their own interest.

But if you are too good and want to help people make some extra money, you also want them to lose some extra money too. Then you must at least tell them about it and clear their doubts by offering them a free consultation. Show them the Explorers, SPV walls, and nodes. And some other little things that could open their minds to new technologies, and after seeing them, they will definitely agree with not saying it's some quick-rich scheme.

[bayu7adi]

It is advisable for every individual engaging in Bitcoin investments to seek consultation from someone more knowledgeable about Bitcoin. This serves as the initial step for newcomers to safeguard themselves against potential scams, as the landscape of cryptocurrency fraud techniques has grown increasingly diverse. Presently, the primary influence leading someone to fall victim to deception is the allure of substantial profits.

As individuals well-versed in Bitcoin, it is incumbent upon us to educate everyone about the importance of not readily trusting investment models that promise significant returns with minimal effort and a brief timeframe. We must all grasp how Bitcoin functions, especially within the realm of exchange, to prevent any misunderstandings regarding the source of seemingly implausible profits.

[Hamza2424]

Bitcoin's presentation definition really varies with the users, some of them grab it as an Investment opportunity and most of them prefer it as using a payment mode, Some call it a revolution in the financial world and some call it the first decentralized society. The narrative keeps changing with the change in time. The financial world is really scary as a daily wager works day and night gets paid 7$ to 8$ for his extremely hard work whereas a person who's sitting in the AC room on the PC making a few clicks to make hundreds of $ and planning his financial strategies to secure the future on the same time Hard worker is trying to meet the daily expenses only.

Technological advancement is making us unfit for any sort of service, they are stealing our Jobs, and services provided by us and Money is getting easier and easier to earn at least for those who are adopting the technology because this advances is opening more opportunities for them while Bitcoin can be considered as the same opportunity for an AC room's investor and Daily wagers no matter much they can invest what only matter is the awareness.

[Cryptomultiplier]

I don't know if introducing such persons to Bitcoin talk forum is enough, because in the long run, the person has to have the time to sit and actually read and learn about BTC here first before even entrusting thier funds to trade or buy and HoDL BTC.
People whose business of survival involves moving around and within the vicinity or attending to customers all day, may like the idea of BTC, but unless you who is closer and have the knowledge and evidence of BTC and your gain, follow them up and help them free up their schedule to have time, then it might be difficult to even learn much here too.

If more Bitcoin talk forum members connect in a physical environment, let's say two or three members live within a proximity willfully, this idea of introducing the locals of interest to this forum where they get to learn more about how BTC and crypto currency works, will fly high.

[un_rank]

This brought me into thinking how do we make people understand Bitcoin properly in order to prevent them from being scammed and end up disliking the crypto space. Is introducing them into Bitcoin talk enough ? If no what else more can we do easily to make them actually get the idea of Bitcoin.

We can only do what we are already doing here on the forum, and that is making relevant and accurate information available. They, if they are truly interested in bitcoin will eventually find the information here or on another platform where we have crypto users and use that to shape their perception of the bitcoin industry.

Introducing them to a platform like Bitcointalk is a good step, they need to make the effort to read and learn.

- Jay -