Few reasons why people are hesitant to buy or HODL bitcoin/Crypto

[Zlantann]

Feel free to share your opinion on how we can fix this.

Many reasons could be the cause of people's lack of interest in Bitcoin let me add
1. Lack of basic infrastructure: Some areas lack electricity and internet connections. And without these basic facilities, it will be practically impossible to be part of the Bitcoin industry.
2. Fall of some major exchanges: People are scared of losing their money and when they hear news of big exchanges going bankrupt they become skeptical about investing in the sector.  Most of them are not aware that one can engage in Bitcoin transactions without these middlemen
3. Lack of security education: Some persons feel that becoming their banks is risky because they lack the basic knowledge of securing their wallets. So they prefer to stay away from the industry.
4. Long-term investment: Many people prefer short-term investment. So when you show them the true picture of Bitcoin, they are not comfortable because they want to make profit within a short period.

[koang]

Here are some of the challenges restricting users from buying and hodling bitcoin:

2. We need to earn a lot before hodling as most of the users in this forum are joining campaigns where the payment is not even guaranteed especially bounty campaigns so I hope you understand the financial situation of people which is due to unequal wealth distribution created by corrupt government and this can be broken when people start earning more through various source of freelancing instead of 9 AM -6 PM job which has made them slave and only once a person has a good amount of at least $100-$200 (this might be little for us but for people from certain geo region this is way more) they can invest and hodl or trade. 

Yep. HODLing is hard. Hard as it can be, just remember the end of the result. Freedom
If we make it through, we will not only gain potential financial rewards but also a deep understanding of the importance of persistence and a long-term perspective in investing.
I believe we're here for a reason, each of us doing our part by holding helps further the cause. 
So we have to maintain good financial planning so that we can buy and hodl Bitcoin.
Plan accordingly, and stack harder.

[davis196]

1.Restrictive and confusing crypto regulations are a major reason for many people not to buy crypto. How can we solve this problem? We can't

2.Bounty campaigns have nothing to do with buying crypto.

3.I don't agree with this. What if the Bitcoin price hits 100K USD? Nobody would want to buy BTC anymore, because it's not "buying the dip" and it's not in a bearish market. Your perception is basically the same as the perception of all the so called "Bitcoiners", who want to buy low and sell high only for the sake of getting more fiat.

You forgot about the fourth reason why the people aren't buying BTC. Buying BTC requires a bank account and ID verification in most cases.
Many people around the world don't have bank accounts and don't want to do ID verification.

[Wind_FURY]

Here are some of the challenges restricting users from buying and hodling bitcoin:


1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

2. We need to earn a lot before hodling as most of the users in this forum are joining campaigns where the payment is not even guaranteed especially bounty campaigns so I hope you understand the financial situation of people which is due to unequal wealth distribution created by corrupt government and this can be broken when people start earning more through various source of freelancing instead of 9 AM -6 PM job which has made them slave and only once a person has a good amount of at least $100-$200 (this might be little for us but for people from certain geo region this is way more) they can invest and hodl or trade. 

3. We need to buy in dip or at the peak of a bearish market if we want to buy and hodl for at least a few years, we can take the example of people who bought at the peak of bull run during end of 2017 and had to wait till the end of 2020 to meet break even and gain profit but many end up selling due to panic and fuds, we need proper channels to educate users to avoid panic selling and build a strong community as a lot of negativity was spread during last bear market which distanced many from crypto.

Feel free to share your opinion on how we can fix this.

There's simply insufficient education of what Bitcoin truly is, why people actually need it as a back up/fall back in case the Cabal loses control over the monetary system, WHICH is becoming more high-probability now in my opinion.

Everything in your post is from a viewpoint of profit. Understandable. But the more you learn about Bitcoin, you would also understand that it's STILL VERY EARLY. The buyers today are front-running the buyers of the next cycle, and do you know who the next buyers are? If you don't know, it's time to pay attention and save as much fiat as you can and BUY THE DIP, and HODL. I believe under the current tight monetary conditions, we might be given another Golden Opportunity to buy the DIP to $20,000.

[Crypto Library]

Some of the reasons you mentioned are actually true in some cases why people feel hesitancy to buy or hold Bitcoin for the long term. However, there may be many other reasons for not holding Bitcoin for the long term. But the hesitation in Bitcoin I think is entirely due to our lack of knowledge in this sector.
If you do a little analysis, you will see that most of the people in the world are still not aware of this crypto currency, and those who do know, are filled with various types of FUD in their minds by the governments and media that do not want to ligalize crypto currency. Also many people don't want to invest in Bitcoin for long term because they are short term traders or they know technical analysis about trading.

[Obari]

@op you did a great job with your writing and I must commend  that but I don't think the first reason is reasonable enough at least from my perspective and there are alot of people holding reasonable amount of bitcoin  even in countries where it is banned and yet still have no single fear because no one can easily ban bitcoin  because of it's decentralized  nature.

Secondly I also do agree with you on the last two points you stated and one major reason I've always believed to have held people back from hold is money to buy and not just to buy but also to buy the dip so buying the dip and having money to buy the dip, works hand in hand. I'm  basically  saying this from my own pint of view because most times, one reason I don't hold is money to buy especially  the dip.

[Xcode7]

Some of the reasons you mentioned are actually true in some cases why people feel hesitancy to buy or hold Bitcoin for the long term. However, there may be many other reasons for not holding Bitcoin for the long term. But the hesitation in Bitcoin I think is entirely due to our lack of knowledge in this sector.
If you do a little analysis, you will see that most of the people in the world are still not aware of this crypto currency, and those who do know, are filled with various types of FUD in their minds by the governments and media that do not want to ligalize crypto currency. Also many people don't want to invest in Bitcoin for long term because they are short term traders or they know technical analysis about trading.

Indeed, it's all due to lack of knowledge, but there are also those who sometimes hesitate because the level of risk is high so that some people don't want to invest in Bitcoin for the long term, I think that's quite realistic for people who are not ready for big risks.
However, for people who have known about Bitcoin for a long time, I think there is no reason for them to doubt this, especially for those who already know the history of Bitcoin prices from the past.

[hyudien]

1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

Even though the government bans Bitcoin, it doesn't mean that the flow of funds can be stopped easily and even if it is tracked, it will only be dealt with by centralized exchanges. Otherwise, the government will not be able to move freely by limiting taxes on Bitcoin. Cross-border transactions will overwhelm the government and we can still easily circumvent its policies.

2. We need to earn a lot before hodling as most of the users in this forum are joining campaigns where the payment is not even guaranteed especially bounty campaigns so I hope you understand the financial situation of people which is due to unequal wealth distribution created by corrupt government and this can be broken when people start earning more through various source of freelancing instead of 9 AM -6 PM job which has made them slave and only once a person has a good amount of at least $100-$200 (this might be little for us but for people from certain geo region this is way more) they can invest and hodl or trade.

 
You don't need to have a lot of income, that's just about ideal. Everyone can have the amount of Bitcoin they can afford to hold and not have to worry about consistency methods. Because doing it in a way that you can afford is the right decision rather than having to wait for something that never gets done at all. There are no specific rules for holding Bitcoin. Buy as much as you can and hold on as hard as you can.

3. We need to buy in dip or at the peak of a bearish market if we want to buy and hodl for at least a few years, we can take the example of people who bought at the peak of bull run during end of 2017 and had to wait till the end of 2020 to meet break even and gain profit but many end up selling due to panic and fuds, we need proper channels to educate users to avoid panic selling and build a strong community as a lot of negativity was spread during last bear market which distanced many from crypto.

50:50

Buy The Dip is simply a set buying limit, and sometimes it relies on investors determining their trading lines against a long-term benchmark. Holding for 3 years from 2017 to 2020 may be a bit disappointing as it was bought at the start of the bull run. However, the profits will be much greater if you can hold it up to 2x ATH.

[livingfree]

It is a misconception when we think that we need to have a lot of money for us to afford Bitcoin. That's also my thought before because when looking at its price before like when it was three digits and that's already expensive for me.

Gone through the 4 digits up to 5 digits now. And how much more when it has got close to $70k, that's truly expensive. But the thing is you don't need to have a lot of money to have it. You can purchase with every little amount that you've got like having $20 a week or two and then use that to accumulate more Bitcoin.

Yes, the quantity will be lower than everyone else and maybe you're right that you need to have tons of money and earn a lot of it if you're goaling to have at least 1 bitcoin at its current price.

[noorman0]

-snip-
1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime,

When someone wants freedom, nothing can stop him. Several articles state that crypto activity in China is still ongoing, [1], [2].

-snip-
3. We need to buy in dip or at the peak of a bearish market if we want to buy and hodl for at least a few years,

I disagree, how does one determine a bearish peak in the current cycle?
Buy some when you have the desire, it may sound quite stupid but remember that the goal is to HODL.

[peter0425]

But as long as that we wanted to buy even there is a restriction yet people are purchasing bitcoin and actually even other cryptos.

I believe that even countries has banning , yet many are accumulating and HODLING , because maybe they trust the system and they believe that future is a best way to look into crypto because this is for that  purpose .

[ajiz138]

1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

Some countries have banned bitcoin but people can still use bitcoin in any transaction including withdrawing funds, meaning there is no strict regulation from the government and they are just trying to prevent the spread through the ban, while I believe bitcoin is still operating by some users they are still free to use bitcoin.

2. We need to earn a lot before hodling as most of the users in this forum are joining campaigns where the payment is not even guaranteed especially bounty campaigns so I hope you understand the financial situation of people which is due to unequal wealth distribution created by corrupt government and this can be broken when people start earning more through various source of freelancing instead of 9 AM -6 PM job which has made them slave and only once a person has a good amount of at least $100-$200 (this might be little for us but for people from certain geo region this is way more) they can invest and hodl or trade. 

If you only rely on forums to earn bitcoin it is not enough, other sources are also very important for additional income in order to add your investment to bitcoin, I think that if you can get on the forum it means that it will not be a big burden on your monthly income, I think other sources of income are needed.

3. We need to buy in dip or at the peak of a bearish market if we want to buy and hodl for at least a few years, we can take the example of people who bought at the peak of bull run during end of 2017 and had to wait till the end of 2020 to meet break even and gain profit but many end up selling due to panic and fuds, we need proper channels to educate users to avoid panic selling and build a strong community as a lot of negativity was spread during last bear market which distanced many from crypto.

If you are able to buy it buy dip it is good, especially at the peak of the bearish, sometimes many hesitate to buy when bearish is because of panic fear of falling again, but basically the current price is still good enough to buy, this is still a buy dip even though the price is $28K I think it is still low for them to buy.

[348Judah]

Some of the reasons i perceived people take into act by making their decision not to invest or hold bitcoin were as follows.

1. Fear of missing out, no one want to be scammed or Invest on what will make them shed tears tomorrow if it turn to be scammed

2. Lack of Knowledge and understanding of what a digital currency means, don't be surprised that some people aren't yet aware that a digital currency that can be trusted exist, the have heard about bitcoin but doesn't know it difference from other cryptocurrencies or how they can learn and develop trust in it.

3. Market volatility, people should know that bitcoin is never complete without being volatile, the price cannot be fixed, the demand and supply rate are what determines the value it comes up with and allows for more adoption, investment and hold for the perfect time to realease, so if the investors don't understand the idea why they need to hodl, they will begin to see it as a loss during the process.

[Blitzboy]

I get your point about government restrictions. Like that ex who wont let go, right? Regulatory threats are serious. They're clouding our crypto dreams. We must inform our community, give updates, and possibly push for regulatory clarity. What if we had more decentralized platforms without centralized control for withdrawals? An example pseudo-problem is "How can we ensure these decentralized platforms remain accessible to everyone, especially with net neutrality in question?"

About your point about wealth inequality and freelancing? Right on! More power to hustlers. We should all want financial freedom. We need greater education. In 2017, users may have avoided panic selling with effective education channels. Build the solid community you mentioned. Sharing our resources, information, and experiences can make this environment safer for everyone. Anyone with me?

[knowngunman]

Here are some of the challenges restricting users from buying and hodling bitcoin:


1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

This is not cogent reason enough to keep people hesitant to buy and hold bitcoin or crypto per se. Although, it might be challenging to some extent but government restrictions has not completely stop people from buying and holding bitcoin. The only thing is that, you can not officially or confidently buy it but you can do so secretly through P2P and other anonymous means. However, in doing so, one must be cautious enough not to get caught because it has some consequences knowing that you are going against the government order. It's a challenge in a country where there is strict regulatory compliance.

2. We need to earn a lot before hodling as most of the users in this forum are joining campaigns where the payment is not even guaranteed especially bounty campaigns so I hope you understand the financial situation of people which is due to unequal wealth distribution created by corrupt government and this can be broken when people start earning more through various source of freelancing instead of 9 AM -6 PM job which has made them slave and only once a person has a good amount of at least $100-$200 (this might be little for us but for people from certain geo region this is way more) they can invest and hodl or trade. 

No! You don't need to earn a lot before you can hold. What you need is financial literacy and management. Some people earn a lot but they can not spend wisely simply because they have no clue on how to manage funds. One thing to note is that, we can promote something without having to demarket other thing. Working for government is not slavery, it's by choice. Yes, there is no fair treatment but just imagine if everyone withdraw their service to government and see our economy will crumble.

[KiaKia]

It's a big fat lie to include government restrictions as a reason why people are not buying and holding Bitcoin right now, they only don't want to get involved with Bitcoin so the government ordered their banks not to give access for customers to be able to accept Bitcoin, when it's ban it doesn't mean you can't have it.

In a centralized country, no one is allowed to receive or buy Bitcoin, but people need to wake up, Bitcoin can only be banned in a centralized country, but you forget that the rightful way of buying Bitcoin in the first place shouldn't have been through centralized companies and platforms, we people are the ones complicating things.

Bitcoin is decentralized and it should be acquired through decentralization, that's where peer-to-peer comes in role, find decentralized platforms and purchase what you want to, there is no way your government and banks can know you have access to Bitcoin.

[cheezcarls]

Here are some of the challenges restricting users from buying and hodling bitcoin:


1. Restrictions from the government and regulators who keep on threatening that they may ban bitcoin or crypto in general anytime, imposing an unjustly ridiculous tax on trading and withdrawal literally leaving us with loss even if we make a profitable trade. What if a situation arises wherein we cannot withdraw even if the value of bitcoin increases as it will be of no use.

2. We need to earn a lot before hodling as most of the users in this forum are joining campaigns where the payment is not even guaranteed especially bounty campaigns so I hope you understand the financial situation of people which is due to unequal wealth distribution created by corrupt government and this can be broken when people start earning more through various source of freelancing instead of 9 AM -6 PM job which has made them slave and only once a person has a good amount of at least $100-$200 (this might be little for us but for people from certain geo region this is way more) they can invest and hodl or trade. 

3. We need to buy in dip or at the peak of a bearish market if we want to buy and hodl for at least a few years, we can take the example of people who bought at the peak of bull run during end of 2017 and had to wait till the end of 2020 to meet break even and gain profit but many end up selling due to panic and fuds, we need proper channels to educate users to avoid panic selling and build a strong community as a lot of negativity was spread during last bear market which distanced many from crypto.

Feel free to share your opinion on how we can fix this.

Another reason that I wanted to add is when big media and TV corporations are misleading the viewers with the “Bitcoin scam” and “crypto scam” headlines thus conditioning our minds that it is not good to invest and adopt them.

As bad actors are continuing to emerge to make Bitcoin and crypto trading as front for their ponzi schemes, this creates a bad image to our industry. It’s one of the reasons until now there are still some who are hesitant about getting into Bitcoin.

As advocates for Bitcoin and crypto, this is one roadblock that we need to overcome by spreading continuous education and right information to the uninformed and misinformed. 

[gunhell16]

Other people are hesitant because they read a lot of headline news on other social media platforms about crypto scamming, and then other governments report that cryptocurrency is not good, not even directly but the point of what is being said using the mainstream media is to make it worse. the image of Bitcoin in communities not only in their country.

others talk badly about Bitcoin. sometimes because exploiters take advantage or abuse the decentralization that cryptocurrency has so they prey on people who don't know about it.

[Honyek]

One reason people are hesitating to buy and hold bitcoin basically is to avoid lose.  Buying and holding bitcoin can be beneficial depending on how one does it. Bitcoin short-term investment can give one profit but one needs to monitor the situation very well in order to know when to invest. As for long-term investment, it depends on how long that has to be, so it is very vital that someone research about the record of bitcoin from the long past including halving to be able to know when to make an investment.

[serjent05]

Feel free to share your opinion on how we can fix this.

I think it is the trust that makes people hesitant to buy or hodl Bitcoin.  Although these people are informed about the Bitcoin economy and market, these people can't just put their trust in a decentralized network where there is no one to blame or go after when something wrong happens.  Aside from that, the lack of funds is also one of the major reasons why people can't buy and hold Bitcoin. Even if these people wanted to buy BTC and hold it, the lack of money to support the investment venture restricts them from doing so.