What can happen next time due to a lack of proper knowledge about Bitcoin?

[Churchillvv]

The popularity of cryptocurrencies is growing rapidly and it is likely that it will replace banks in the future.

 I don't think this will happen immediately. It will take some time for people to accept cryptocurrency as an official payment method.

As cryptocurrency adoption increases, banks will need to adapt. They can do this by offering crypto-based services, such as crypto wallets and crypto payments.

If banks do not adapt, they could be devastated and become obsolete. However, I think this will be a gradual process.

Like I have said before Bitcoin and other cryptocurrencies (shitcoins) are not in competition with with  traditional banks but are only here to offer a well cherish services with is elevator from centre control from government and the manipulation of monetary policies of the government, base on your assumption cryptocurrencies might replace banks in future is not correct or might be correct in some point but their is a big difference between banks and fiat or printed money, banks are the third-parties with hand and administer fiats but not fiat it self cryptocurrencies as you said could replace fist in future which we may not witness because it might take a centenary, even with this current improvement in adoption of Bitcoin and other shitcoins or crypto assets it doesn't mean third-parties won't be need in future rather it will require a trust system that will likely be an individual or institutions that are not completely detached, which means people will prefer to have a face to face or personal contact with their third-parties instead of the current operation of the traditional banks which is completely detached.

The banking system has disappointed people in many ways. In the last economic crisis, the banks were bailed out with taxpayer money, and we were left with that money. This is unfair, and it shows that banks do not value people. We gave them a chance, but they abused our trust. It's time to let them take care of themselves. We will not forget what they did, and we will not give them a second chance.

though banks may have betrayed the trust which was and is entrusted/beckoned on them but we cannot for some reason disregard or undermine the helps which banks had rendered. The purpose of Bitcoin is not to revenge what do ever that banks may have cost people, Satoshi created Bitcoin to free people from central control of the government and set financial freedom to all and not to take avenge or revenge on the banks.
In my opinion saying we will not give them a second chance sounds like we (you and whoever thinks in this same manner)  are in a competition with the banks, Bitcoin is not in any competition with banks, it's only fulfilling it goals whis is to freedom from government manipulation.

bitcoin will never overtake bank, because now it is hard to predict that bitcoin will be adopt all of the country in future,
banking system is very strong, economically a country is managed through banks without it a state is immobilized,
so still people's have to trust their traditional bank, but i am not saying  that bank is completely secured,

Your statement maybe considered void or should I say not correct.
Bitcoin is gradually being accepted globally, have you checked out the statistics of Bitcoin? or the performance of Bitcoin in recent times? you really have to check out some things and find out yourself. With the way you sound it seems you do not really read alot because the banks in which you support is just made up to have everyone in the hand of some f***kup minded people who only protect themselves from coming down from. the position which the assume or are afraid of people becoming rich as they are, the government which is in control of the the country is only using the banks to have everything being manipulated in their favour. How many people trust their banks? haven't you seen people panic as a result of the banking system policies? the current situation of people still patronizing the traditional banks are mostly because they have no choice for the time being, imagine when people begin to handle they without control do you think banks will have much costumers to serve? most of this banks are still in business cause the are no much option yet. traditional banks are tools used by monetary agencies of a state to control the lives of their citizens, I believe that is the exact reason Bitcoin has be initiated to free people from this set of people that manipulates the I've of people. Bitcoin is decentralized currency that allows everyone to have absolutely control of their funds.

3: Many developing or underdeveloped countries (especially those with low leverage) will consider cryptocurrency a curse rather than a blessing due to their lack of proper understanding of its importance.

Cryptocurrency is now getting acceptable and those who don't know yet will surely go towards learning about its characteristic because it is a reality that whenever new things come into use then people first start investigating about it then use their money for investment.

Those were the people of past were innocent who don't understand well but put money into anything but now age is modern and also people are modified according to era so they will not think bitcoin as a curse but they will realize its benefits. Like you have seen that instead of having strict regulations in some country people are still buying more and more bitcoin because they know that a day will come when their country will accept bitcoin so I think that it is will of everyone to be educated about bitcoin as they already know that importance of bitcoin.

Sometimes wanting to introduce bitcoin, systems, concepts to lay people is still difficult and they almost don't believe the concept after it is explained. I told my friends the same age as my parents, that they believed from the start that they only knew fiat money. only young people believe because the version of the modern world has changed. Until now, young people in my area can get to know bitcoin and crypto

Bitcoin is not only understood by young people mate, it depends on your view or the area which you are located. there are lots of people here in this forum whom are advanced of age but are well acquainted with the know of Bitcoin, e.g @philipma1957 , @The Sceptical Chymist, @Jet Cash etc this all advanced people by age but are well and far aquatinted with this Bitcoin knowledge, there is absolutely nobody who can't understand but because of the level of there exposure has reduce the understanding in them but concluding that only young people can understand Bitcoin is absolutely wrong.

[1715331819]

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[EarnOnVictor]

The Banking system have failed the people in so many ways, it is about time that there are some payback for them. In the previous economic crisis, Banks were bailed out by tax payers money and we just had to take it up the a$$.

A lot of industries have been disrupted by newer technologies and they just had to adapt or die... so the Banks just have to do the same. Let's forget about them, like they forgot about us.. when they harmed us.

The intention of Satoshi in creating bitcoin is not to take avenge or revenge on what you believe banks did to us (those you have lost to the banking system) rather it was for the simple purpose of financial freedom and free from central control by governments.
I don't think banks will be destroyed but it will have to adapt to the new technology and keep it activities if banks are going to be wiped out all over the world it will take years, this year's might be up to a centenary or more or less. Though the disadvantages of banks over shadow the advantages but that should don't make anyone to forget the value it aided to human life.

I think majority know this that it was due and bound to happen and we all have Satoshi to thank for the brilliant idea. Bitcoin in it's original core like you said was meant to aid the whole system of central control of the public funds and help evaluate the idea of financial purpose and indeed it has and like every good project more idea and use always comes with it and this has also been the case of Bitcoin itself as the use of Bitcoin has been greatly diverse into an investment purpose and this has made Bitcoin superb in it's adoption. Bitcoin is an evolution in working progress and it will take some time to actually overtake the whole Rocker fellers central bank system but even if it doesn't really meet that goal, it's still very beneficial and one thing about evolution, it's doesn't really happen overnight.

Bitcoin has solved the math, and in addition, solved the central controlling overbearing nature of the financial system. Most importantly, the blockchain technology it brought into the financial system is the main reason why people adopt and appreciate it as it's revolutionary. And of course, Bitcoin itself is a currency, so it was obvious that after the right acceptability and adoption, it would be inculcated into the financial system which is what we see now. Bitcoin is capable of doing what every other currency is capable of doing, also on its own, it has the addition of privacy and anonymity which makes it unique.

Additionally, what I believe Satoshi realized and solved which people seldom talk about is the disparity of payment systems among nations of the world. You might not know, but the top world countries were the ones enjoying most of the payment gateways before now, they were disenfranchising others for the reason best known to them. But Bitcoin solved the issues and we are equal before it. What the person in the USA could do with their coins is exactly what any person in the poorest country could do with their coins. This removes sidelining and favouritism, but people do not often say this even though it's mostly appreciated and has solved a whole lot in poor countries.

[JayJuanGee]

The Banking system have failed the people in so many ways, it is about time that there are some payback for them. In the previous economic crisis, Banks were bailed out by tax payers money and we just had to take it up the a$$.

A lot of industries have been disrupted by newer technologies and they just had to adapt or die... so the Banks just have to do the same. Let's forget about them, like they forgot about us.. when they harmed us.

The intention of Satoshi in creating bitcoin is not to take avenge or revenge on what you believe banks did to us (those you have lost to the banking system) rather it was for the simple purpose of financial freedom and free from central control by governments.
I don't think banks will be destroyed but it will have to adapt to the new technology and keep it activities if banks are going to be wiped out all over the world it will take years, this year's might be up to a centenary or more or less. Though the disadvantages of banks over shadow the advantages but that should don't make anyone to forget the value it aided to human life.

I think majority know this that it was due and bound to happen and we all have Satoshi to thank for the brilliant idea. Bitcoin in it's original core like you said was meant to aid the whole system of central control of the public funds and help evaluate the idea of financial purpose and indeed it has and like every good project more idea and use always comes with it and this has also been the case of Bitcoin itself as the use of Bitcoin has been greatly diverse into an investment purpose and this has made Bitcoin superb in it's adoption. Bitcoin is an evolution in working progress and it will take some time to actually overtake the whole Rocker fellers central bank system but even if it doesn't really meet that goal, it's still very beneficial and one thing about evolution, it's doesn't really happen overnight.

Bitcoin has solved the math, and in addition, solved the central controlling overbearing nature of the financial system. Most importantly, the blockchain technology it brought into the financial system is the main reason why people adopt and appreciate it as it's revolutionary. And of course, Bitcoin itself is a currency, so it was obvious that after the right acceptability and adoption, it would be inculcated into the financial system which is what we see now. Bitcoin is capable of doing what every other currency is capable of doing, also on its own, it has the addition of privacy and anonymity which makes it unique.

Additionally, what I believe Satoshi realized and solved which people seldom talk about is the disparity of payment systems among nations of the world. You might not know, but the top world countries were the ones enjoying most of the payment gateways before now, they were disenfranchising others for the reason best known to them. But Bitcoin solved the issues and we are equal before it. What the person in the USA could do with their coins is exactly what any person in the poorest country could do with their coins. This removes sidelining and favouritism, but people do not often say this even though it's mostly appreciated and has solved a whole lot in poor countries.

Even though I agree with the idea of bitcoin as an equalizing force, yet status quo rich people, institutions and countries have advantages to acquire more bitcoin than status quo poor people, institutions and countries.  At the same time, the status quo poor  may well end up seeing the advantages and/or their ability to prosper by getting involved in bitcoin earlier, which is part of the justification why there is likely going to be some ongoing wealth redistribution that comes through bitcoin and for those who identify getting involved in bitcoin earlier and who are able to accumulate bitcoin without necessarily losing too much of it along the way.

[barisbilgili]

Sometimes wanting to introduce bitcoin, systems, concepts to lay people is still difficult and they almost don't believe the concept after it is explained. I told my friends the same age as my parents, that they believed from the start that they only knew fiat money. only young people believe because the version of the modern world has changed. Until now, young people in my area can get to know bitcoin and crypto

It takes patience in teaching about Bitcoin to people who don't understand anything about Bitcoin, because if in our delivery we don't make them interested, of course they won't listen or even respond to what we have explained to them, but if we introduce it to those who do have The desire to know about Bitcoin will certainly be easier for us to convey it, so it will be better for us to convey it to those who don't respond well to what we have conveyed.

We don't need to explain in detail because they won't want to learn about this. and for those who want to learn it, we can teach it and guide them until they really understand Bitcoin well.

[Churchillvv]

The Banking system have failed the people in so many ways, it is about time that there are some payback for them. In the previous economic crisis, Banks were bailed out by tax payers money and we just had to take it up the a$$.

A lot of industries have been disrupted by newer technologies and they just had to adapt or die... so the Banks just have to do the same. Let's forget about them, like they forgot about us.. when they harmed us.

The intention of Satoshi in creating bitcoin is not to take avenge or revenge on what you believe banks did to us (those you have lost to the banking system) rather it was for the simple purpose of financial freedom and free from central control by governments.
I don't think banks will be destroyed but it will have to adapt to the new technology and keep it activities if banks are going to be wiped out all over the world it will take years, this year's might be up to a centenary or more or less. Though the disadvantages of banks over shadow the advantages but that should don't make anyone to forget the value it aided to human life.

I think majority know this that it was due and bound to happen and we all have Satoshi to thank for the brilliant idea. Bitcoin in it's original core like you said was meant to aid the whole system of central control of the public funds and help evaluate the idea of financial purpose and indeed it has and like every good project more idea and use always comes with it and this has also been the case of Bitcoin itself as the use of Bitcoin has been greatly diverse into an investment purpose and this has made Bitcoin superb in it's adoption. Bitcoin is an evolution in working progress and it will take some time to actually overtake the whole Rocker fellers central bank system but even if it doesn't really meet that goal, it's still very beneficial and one thing about evolution, it's doesn't really happen overnight.

Bitcoin has solved the math, and in addition, solved the central controlling overbearing nature of the financial system. Most importantly, the blockchain technology it brought into the financial system is the main reason why people adopt and appreciate it as it's revolutionary. And of course, Bitcoin itself is a currency, so it was obvious that after the right acceptability and adoption, it would be inculcated into the financial system which is what we see now. Bitcoin is capable of doing what every other currency is capable of doing, also on its own, it has the addition of privacy and anonymity which makes it unique.

Additionally, what I believe Satoshi realized and solved which people seldom talk about is the disparity of payment systems among nations of the world. You might not know, but the top world countries were the ones enjoying most of the payment gateways before now, they were disenfranchising others for the reason best known to them. But Bitcoin solved the issues and we are equal before it. What the person in the USA could do with their coins is exactly what any person in the poorest country could do with their coins. This removes sidelining and favouritism, but people do not often say this even though it's mostly appreciated and has solved a whole lot in poor countries.

Even though I agree with the idea of bitcoin as an equalizing force, yet status quo rich people, institutions and countries have advantages to acquire more bitcoin than status quo poor people, institutions and countries.  At the same time, the status quo poor  may well end up seeing the advantages and/or their ability to prosper by getting involved in bitcoin earlier, which is part of the justification why there is likely going to be some ongoing wealth redistribution that comes through bitcoin and for those who identify getting involved in bitcoin earlier and who are able to accumulate bitcoin without necessarily losing too much of it along the way.

Put differently, the so called status quo rich people for this reason of Bitcoin tending to be an equalizing force wouldn't likely let the status quo poor people reach their social status hence they work with the government or are the government itself, inorder to maintain the central control idea which Bitcoin oppose.
The concept of Bitcoin seems to be an attack to the social strata that has been in operation, when this status quo poor people end up seeing the advantages of Bitcoin and get involved & thereby prosper, then the social mobility is powered the government tends to be freightened by the speed in which the status will change and hence will use the banks and governments to manipulate them.
They believe when this status quo poor people get some level of exposure as a result of being elevated with Bitcoin, there will be a fight back because they may have enjoyed freedom and wouldn't likely go back to being manipulated. this is a major issue surrounded around the fight against Bitcoin, since they may not be able to make it open they have to use some covers like KYC etc as a welcome development to still initiate the central authority idea.

Sometimes wanting to introduce bitcoin, systems, concepts to lay people is still difficult and they almost don't believe the concept after it is explained. I told my friends the same age as my parents, that they believed from the start that they only knew fiat money. only young people believe because the version of the modern world has changed. Until now, young people in my area can get to know bitcoin and crypto

It takes patience in teaching about Bitcoin to people who don't understand anything about Bitcoin, because if in our delivery we don't make them interested, of course they won't listen or even respond to what we have explained to them, but if we introduce it to those who do have The desire to know about Bitcoin will certainly be easier for us to convey it, so it will be better for us to convey it to those who don't respond well to what we have conveyed.

We don't need to explain in detail because they won't want to learn about this. and for those who want to learn it, we can teach it and guide them until they really understand Bitcoin well.

In as much I understand the perspective in which you are speaking from I will say most people who don't understand the concept of Bitcoin are mostly from remote areas or rural/under development environment because they may lack exposure to technology at the moment but when trying to enlighten them about Bitcoin one must not be in a haste because it may be misunderstood and then seems to them to be a scam but when you put in some effort understanding the type of things in which this people understand then relate Bitcoin to what they value or understand better it will be easier to convey your message faster.
Empathetically, if I have to be in their shoes I would love to see evidence that shows that something like Bitcoin truly exist either by the results of it in the life of the conveyor or something else but you wouldn't expect people from some interior underdeveloped areas to just believe what you convey.
So it more advisable to only educate those indicate interest and when changes occur in the life's of this people you can make reference to them then it will be easier to penetrate the hearts of people who may not understand Bitcoin at the moment.

[wiss19]

The banking system has disappointed people in many ways. In the last economic crisis, the banks were bailed out with taxpayer money, and we were left with that money. This is unfair, and it shows that banks do not value people. We gave them a chance, but they abused our trust. It's time to let them take care of themselves. We will not forget what they did, and we will not give them a second chance.

No matter what we think or say about them, we are going to need both fiat currencies and banks until Bitcoin is usable more as a currency or a payment method than an investment asset because we have no choice. We love Bitcoin, and we want it to stay around forever and keep serving the properties that it has to us but we also can't deny the fact that we currently need money, in our local currencies, to be used for our expenses since Bitcoin isn't accepted everywhere in the world right now.

So, the rage and the hatred towards banks and traditional financial institutions are all useless for now because whether we accept it or not, we are all using them for our daily needs at the moment, and I believe we should wait for the time when we can finally say that we don't need their services at all and then say whatever we want about them and that will be fair and have no hypocrisy from our side at all.

[jeraldskie11]

The banking system has disappointed people in many ways. In the last economic crisis, the banks were bailed out with taxpayer money, and we were left with that money. This is unfair, and it shows that banks do not value people. We gave them a chance, but they abused our trust. It's time to let them take care of themselves. We will not forget what they did, and we will not give them a second chance.

No matter what we think or say about them, we are going to need both fiat currencies and banks until Bitcoin is usable more as a currency or a payment method than an investment asset because we have no choice. We love Bitcoin, and we want it to stay around forever and keep serving the properties that it has to us but we also can't deny the fact that we currently need money, in our local currencies, to be used for our expenses since Bitcoin isn't accepted everywhere in the world right now.

So, the rage and the hatred towards banks and traditional financial institutions are all useless for now because whether we accept it or not, we are all using them for our daily needs at the moment, and I believe we should wait for the time when we can finally say that we don't need their services at all and then say whatever we want about them and that will be fair and have no hypocrisy from our side at all.

As of now, we need to utilize banks because Bitcoin is not yet legalized in all the countries over the world. I didn't hate banks but I can't deny that most of them are profiting from people's money. However, banks is a guarantee that your money are secured with them than to carry it by yourself. The disadvantage I see in Banks is the ROI, it is very low while with Bitcoin it can possibly be doubled within a year and you can guarantee that your funds are safe if you keep your key in a safe place.

[Churchillvv]

The banking system has disappointed people in many ways. In the last economic crisis, the banks were bailed out with taxpayer money, and we were left with that money. This is unfair, and it shows that banks do not value people. We gave them a chance, but they abused our trust. It's time to let them take care of themselves. We will not forget what they did, and we will not give them a second chance.

No matter what we think or say about them, we are going to need both fiat currencies and banks until Bitcoin is usable more as a currency or a payment method than an investment asset because we have no choice. We love Bitcoin, and we want it to stay around forever and keep serving the properties that it has to us but we also can't deny the fact that we currently need money, in our local currencies, to be used for our expenses since Bitcoin isn't accepted everywhere in the world right now.

So, the rage and the hatred towards banks and traditional financial institutions are all useless for now because whether we accept it or not, we are all using them for our daily needs at the moment, and I believe we should wait for the time when we can finally say that we don't need their services at all and then say whatever we want about them and that will be fair and have no hypocrisy from our side at all.

In as much as I agree with you that traditional banks and it's services are currently important, I also will want to  know you that the hatred for financial institutions here in the forum has created an illusion that this traditional banks are absolutely useless or it services are not important which is wrong but I will definitely not dispute the fact that they really offered alot of help as third parties in our various countries and life in general though they may have lost trust but still doesn't warrant the absolutely hatred on them.

The governments uses this banks a means to control the entire operation of citizens that is exactly where there is slack in the banking system but cryptocurrencies (Bitcoin and shitcoins) are here to fell up this gaps that banks has open in the hearts of citizens to elevate us from central control of the government and set financial freedom to all who grabs the opportunity.

Banks will only be less useful in future and this future may be centenary or more because it will take alot of time to reach the point which banks won't be needed. maybe it will still be needed but in a different manner, maybe it will require people to have contact with their third parties not the completely detached institutions that operate now. for the fact that this future is not yet here we don't need to overemphasize on the hatred but can grab the opportunity that bitcoin has brought to our table.

[minersday]

In terms of application, Bitcoin will find it difficult to replace all fiat currencies. Bitcoin is a financial innovation that has several advantages over the existing financial system.  It was not intended to completely replace fiat currency, but rather to give an alternative.

Bitcoin, like the Internet, is a revolutionary innovation that offers new ways of existence... however, while the Internet is widely recognized, not everyone in the world has access to it and is surviving.

So, don't let your fear of change lead you to assume that Bitcoin will reduce employment opportunities, because Bitcoin has generated and will continue to create many jobs.

[Blitzboy]

The banking system has disappointed people in many ways. In the last economic crisis, the banks were bailed out with taxpayer money, and we were left with that money. This is unfair, and it shows that banks do not value people. We gave them a chance, but they abused our trust. It's time to let them take care of themselves. We will not forget what they did, and we will not give them a second chance.

No matter what we think or say about them, we are going to need both fiat currencies and banks until Bitcoin is usable more as a currency or a payment method than an investment asset because we have no choice. We love Bitcoin, and we want it to stay around forever and keep serving the properties that it has to us but we also can't deny the fact that we currently need money, in our local currencies, to be used for our expenses since Bitcoin isn't accepted everywhere in the world right now.

So, the rage and the hatred towards banks and traditional financial institutions are all useless for now because whether we accept it or not, we are all using them for our daily needs at the moment, and I believe we should wait for the time when we can finally say that we don't need their services at all and then say whatever we want about them and that will be fair and have no hypocrisy from our side at all.

In as much as I agree with you that traditional banks and it's services are currently important, I also will want to  know you that the hatred for financial institutions here in the forum has created an illusion that this traditional banks are absolutely useless or it services are not important which is wrong but I will definitely not dispute the fact that they really offered alot of help as third parties in our various countries and life in general though they may have lost trust but still doesn't warrant the absolutely hatred on them.

The governments uses this banks a means to control the entire operation of citizens that is exactly where there is slack in the banking system but cryptocurrencies (Bitcoin and shitcoins) are here to fell up this gaps that banks has open in the hearts of citizens to elevate us from central control of the government and set financial freedom to all who grabs the opportunity.

Banks will only be less useful in future and this future may be centenary or more because it will take alot of time to reach the point which banks won't be needed. maybe it will still be needed but in a different manner, maybe it will require people to have contact with their third parties not the completely detached institutions that operate now. for the fact that this future is not yet here we don't need to overemphasize on the hatred but can grab the opportunity that bitcoin has brought to our table.

Theres no doubt that the forum dislike the standard banking , but it could be getting in the way of a balanced view. Even though banks have problems, they have been very important in creating our economy. They make deals easier and keep the economy going, but they also let the government keep an eye on things, which is an important point that we cant miss.

Crypto promise financial freedom by breaking away from centralized control in a new way. Can they completely take the place of banks? Not likely in the next few days (months or even years). At this point, they play a more supporting role, filling in the gaps left by traditional banking systems. For example, Bitcoin gives us more control over our money, but it also has some problems, like instability, unsure rules, and so on.

So, Bitcoin should be seen as a way to give people more power, not as a full-on solution to replace banks. We should focus on using its strengths while also being aware of its weaknesses and the fact that standard banking systems will still be needed in the future.

[btc78]

Sometimes wanting to introduce bitcoin, systems, concepts to lay people is still difficult and they almost don't believe the concept after it is explained. I told my friends the same age as my parents, that they believed from the start that they only knew fiat money. only young people believe because the version of the modern world has changed. Until now, young people in my area can get to know bitcoin and crypto

It takes patience in teaching about Bitcoin to people who don't understand anything about Bitcoin,

i also think it depends a lot on how we teach bitcoin in my case i have encountered cryptocurrency two times the first time no one really explained to me what was cryptocurrency or what was bitcoin they just pushed me into the world of crypto and told me to do this and that which made me lose interest i didn’t study much about it and everytime i have to look at a market i get bored and discouraged

but someone else patiently taught me about bitcoin carefully and in detail
they also introduced me to this forum which allowed me to study further about bitcoin specifically
seeing all the members of this forum made me realize the importance and the benefits of bitcoin because of the posts i read in here which really showed me the impact bitcoin has

[RockBell]

In terms of application, Bitcoin will find it difficult to replace all fiat currencies. Bitcoin is a financial innovation that has several advantages over the existing financial system.  It was not intended to completely replace fiat currency, but rather to give an alternative.

Bitcoin, like the Internet, is a revolutionary innovation that offers new ways of existence... however, while the Internet is widely recognized, not everyone in the world has access to it and is surviving.

So, don't let your fear of change lead you to assume that Bitcoin will reduce employment opportunities, because Bitcoin has generated and will continue to create many jobs.

yeah fiat wont be completely ruled out but people will end up given more value to bitcoin than to fiat and that is what is about to happen ans have even started in other places, like El Salvador that have allowed and accepted bitcoin has a ledger tender that is to show how that between will go and the government is putting in all effort to make it centralized, and i don't know why the government don't want to leave the system alone, and because of the financial advantage that bitcoin has that is why a lot of people are preferring investing in bitcoin than any other thing. and even before fiat gold was their and when the initiative of fiat came gold is still their so bitcoin is also consider an alternative with good benefits. and the change of bitcoin is getting better and the people are getting more interesting, if you have not buy your bitcoin now is the best opportunity.

[terrific]

but someone else patiently taught me about bitcoin carefully and in detail
they also introduced me to this forum which allowed me to study further about bitcoin specifically
seeing all the members of this forum made me realize the importance and the benefits of bitcoin because of the posts i read in here which really showed me the impact bitcoin has

And that is why it is important to read at least those posts that are meaningful and sharing important knowledge that we can absorb and extract.
Those that lack knowledge about Bitcoin, they are relying on themselves and that makes them think that they know a lot of things but in real, they don't.
That gives them to voice out their opinions and leading people wrongly because what they say are wrong and that's one result for having lack knowledge in Bitcoin.

[bettercrypto]

If I were to base it on the title you made, the answer would be like this: when we enroll in a school, we don't study the lessons taught by the teacher. Do you think you can finish your education if you don't study what you should study? Can you learn anything if you don't learn and study anything?

It's the same with Bitcoin; we must learn and study it to know and discover how it has potential and how it can also provide an opportunity to every person who believes in this field of business. Do you get it?

[taufik123]

-snip-
That gives them to voice out their opinions and leading people wrongly because what they say are wrong and that's one result for having lack knowledge in Bitcoin.

It also depends on who catches it, whoever is critical enough with all sorts of advice from others, then there will be questions about where the knowledge and opinions come from and whether the opinion giver has the knowledge or not.
There will be references as proof that they learned it, Without any references they will only make up with their limited knowledge.

It's better to look stupid but still want to learn and admit that he still lacks knowledge, than to admit that he has a lot of knowledge but is actually just a boast.

[terrific]

-snip-
That gives them to voice out their opinions and leading people wrongly because what they say are wrong and that's one result for having lack knowledge in Bitcoin.

It also depends on who catches it, whoever is critical enough with all sorts of advice from others, then there will be questions about where the knowledge and opinions come from and whether the opinion giver has the knowledge or not.
There will be references as proof that they learned it, Without any references they will only make up with their limited knowledge.

It's better to look stupid but still want to learn and admit that he still lacks knowledge, than to admit that he has a lot of knowledge but is actually just a boast.

Most of the time, these days, there are a lot of gullible people and even someone who lacks knowledge about Bitcoin becomes a genius on their eyes.
And that's why they believe what the little knowledge is being told to them but you're right, that it depends to the person that receives the information.
Because if they are critical enough to verify and check every information being told to them, they won't be as gullible as those people.

[panganib999]

Mass exodus as what happened in 2018. People pulling out their ingestments never to return again after realizing that bitcoin’s not the “end all be all” money making machine that it was made to be. That or yet another price dump which bitcoin will slowly recover from but certainly something that it will suffer from for a good amount of time.

The good news is that there’s more information about bitcoin now more than ever, and of course, people are more informed and knowledgeable about bitcoin these days compared to uears prior. So at some levels you must lige under a rock or something for you to actually be this misinformed about bitcoin.

[taufik123]

Most of the time, these days, there are a lot of gullible people and even someone who lacks knowledge about Bitcoin becomes a genius on their eyes.
And that's why they believe what the little knowledge is being told to them but you're right, that it depends to the person that receives the information.
Because if they are critical enough to verify and check every information being told to them, they won't be as gullible as those people.

It all depends on their audience, if in general their audience is gullible people or those who still lack knowledge about Bitcoin and crypto, they are very easy to be deceived.

I've seen news stories about a group of people being scammed by fraudulent investments using the name Bitcoin.
They initially gave a class on how to double Bitcoin, how to trade for beginners, but in the end had to deposit some money to buy Bitcoin that would go into their account.

But in the end it's just a hoax that will take all their money.
This is how if ordinary people find the wrong mentor or influencer, they will easily be deceived by sweet promises of many benefits, but in the end will only be cheated and abandoned.

It's okay to be stupid but willing to learn and have a critical attitude, because that will be the first protector.
Don't easily believe what others say.

[terrific]

Most of the time, these days, there are a lot of gullible people and even someone who lacks knowledge about Bitcoin becomes a genius on their eyes.
And that's why they believe what the little knowledge is being told to them but you're right, that it depends to the person that receives the information.
Because if they are critical enough to verify and check every information being told to them, they won't be as gullible as those people.

It all depends on their audience, if in general their audience is gullible people or those who still lack knowledge about Bitcoin and crypto, they are very easy to be deceived.

I've seen news stories about a group of people being scammed by fraudulent investments using the name Bitcoin.
They initially gave a class on how to double Bitcoin, how to trade for beginners, but in the end had to deposit some money to buy Bitcoin that would go into their account.

But in the end it's just a hoax that will take all their money.
This is how if ordinary people find the wrong mentor or influencer, they will easily be deceived by sweet promises of many benefits, but in the end will only be cheated and abandoned.

It's okay to be stupid but willing to learn and have a critical attitude, because that will be the first protector.
Don't easily believe what others say.

I have seen the same thing in different places and it's sad that there's just a lot of gullible people that are being roamed around by these fraud people.
While I understand that with all the stupidity that the gullible people does, well to be fair I am one of them before but experience have thought me toughly on this regard.

[Nheer]

I might be wrong, and I don't know much about advanced technology, crypto, or bitcoin yet, so please don't take my questions negatively.
 In fact, all these questions have been created from the thoughts that I have presented here.

As a newbie, you will naturally have these kinds of thoughts. Just like your post title it shows you do not fully understand bitcoin, which is even more reason to be considering the drawbacks of using bitcoin as a worldwide payment method. After you have thoroughly researched bitcoin, I believe you will be able to respond to the majority of these inquiries on your own. When you compare its benefits and drawbacks, you will see that, once bitcoin is widely recognised as a form of payment, it will solve more issues than it will cause problems. Over time, individuals will eventually learn to overcome these challenges.  

1. When virtual currency or crypto-currency reigns all over the world, the banking system will be miserable, and a group of people (who do not know about crypto-currency or bitcoin) will be unemployed all over the world, who till now were working at the convenience of various banks.

When monetary and banking system was introduced in the early days it also posed a lots of challenges to people which most people find it difficult to understand and adapt to its usage but with time the majority of people fully understood it and it actually solved a lot of issues and made things more easier for people. If a virtual currency is used as a global currency it will gradually make the banking system irrelevant because it was designed to improve on the lapses of the banking system but bitcoin was designed so people will have total control over their money as banks have been a threat to people and their money. Bitcoin is designed to be used as an alternative form of payment.

When bitcoin is being used as a global currency people who do not have knowledge about will simply have to learn about because everyone else also learned about it and they will adapt to its usage gradually.

3: Many developing or underdeveloped countries (especially those with low leverage) will consider cryptocurrency a curse rather than a blessing due to their lack of proper understanding of its importance.

Remember that people hated fiat money when it was first introduced as well, but they eventually became used to it. The same will happen with bitcoin and other cryptocurrencies. Every new plan will undoubtedly be opposed by a certain percentage of people in life, but it shouldn't impede a new development that would benefit the majority. It is important to educate those who are ignorant about it about its significance.

4: I have seen among my acquaintances who still cannot fully trust the bank (banking is some kind of rigging or fraud) and therefore leave their valuable assets (gold or money) on their own instead of depositing them in the bank. For those who do not believe in banks, how exactly will they accept this currency system?

That is why bitcoin and cryptocurrency is essential and this is one of the problems it solves. These set of people have issues trusting the banking system because they want privacy and so they prefer to save their money with themselves so they can have total freedom and control over their money. If this is the reason why they don’t believe in banks then they will have no problem using Bitcoin because was designed to give people the financial freedom they deserve.