Bitcoin and misinformation

[HONDACD125]

It's been a long time I saw anyone publicly making this statement of Bitcoin being a scam. Time have proven them wrong because Bitcoin beat all the targets given to it by the critics. I feel the world is waking up to the fact that Bitcoin have come to stay, no wonder major financial giants like JP Morgan have been keenly monitoring Bitcoin. Don't also forget that fiat payment system, Paypal have shown interest in cryptocurrency which is a confirmation that rather than seeing Bitcoin as a scam, it is being accepted as a welcomed development.

With the legalization of Bitcoin by some countries, I am optimistic that many positive things will come out of it and many big organizations will also embrace Bitcoin. If you see anyone calling Bitcoin a scam at this point in time, it simply means the person is uniformed or just simply being unfortunate.

It is my expectation that those of us who do not believe that Bitcoin is a scam are already buying and holding for the future.

you are right there were people talking negatively about Bitcoin before and there are still people who fear the success of Bitcoin, but despite so much misinformation, Bitcoin continues its successful journey. People who don't know about Bitcoin and don't know about cryptocurrency market seem to be more busy spreading such things.

  Still many people continue to invest in Bitcoin and consider Bitcoin as the safest and most reliable. If the ETF issue is resolved, it will bring further improvement for Bitcoin. The way Bitcoin has seen its price rise over the past few months proves that Bitcoin is a great investment option for everyone. Misinforms will never succeed.

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[Lorence.xD]

Some people who don't think about managing their finances well, of course won't think about investing, because they tend to spend the income they have without paying attention to their needs. Yes, that's right, if we explain about Bitcoin to people like that, of course they won't listen and even if they do, they won't be interested in what we explain about Bitcoin to them, because they only think about momentary pleasure by spending the income they have and doesn't think about what will happen if he can't have any more income.

Some people don't think about future and spend whole money but don't realize that if hard time comes then what will they do. Everyone is familiar with bitcoin but some people don't accept bitcoin because they are unable to wait for such a long time. Who desires to invest in bitcoin will invest without learning from others but those who don't have any dream of investment will never understand even we teach them each and everything about bitcoin.

When a person has money then they don't think about investment but if they don't have money then they say that if they wish to have some money that they can use for buying bitcoin. Those individuals who don't have any bitcoin yet will surely wish when they see other fellows to take benefit from it in 2024 but it will be too late as halving again will be four years later.

That is the mindset that we should break, if you are currently financially stable doesn't mean it could last forever, it would still be better to have investments or savings in case of emergency, if you can't handle big amounts there are some methods like the DCA method. Plus for the future of your family, they wouldn't have to think financially. Bitcoin is literally free for everyone to use it could be any person, and the results would depend on their knowledge, skills, mindset, and funds. These factors affect their decision-making when it comes to investing in Bitcoin. I think some really wants to take the risk of accumulating Bitcoin, but it is the negativity, and they focus on its cons, of course, they are having second thought since they've seen how powerful Bitcoin is that it could change someone's life. But if you are living a good life you won't really hassle yourself to invest in something you don't know.

[Sexylizzy2813]

Some people find it hard to even believe the truth rather they prefer to go for the lies people tell and that's how many people fall for scammers. I know you were expecting your friends to believe and take what you're telling them but what can you do when they choose not to believe what you're saying.
Is good you let them be and supposing they agreed and things didn't go as you told them because some of them only have it in mind that they'll gain and gain no loss, what with would you do?

Yeah, there is nothing we can do with that.

If they're telling that they are interested after talking to them and yet, you see them show actual no interest at all then let them be. That is how life goes on.

Whether you're the best in explanation and stories, if the people listening shows you no interest after that, there is nothing we can do.

Where it becomes more annoying is when they give you that listening ears show so much attention like they're really ready, after saying all these things to them, giving them all the guidelines they need and the next thing you hear from them in the coming days is that someone scammed them of a huge amount, and they'll blame it on you, the thing there is that after telling them everything about Bitcoin, when you expect them to come to you for the real deal you hear them going behind you to trade or buy Bitcoin to get started. Humans are just hard to control.

[kotajikikox]

Some people who don't think about managing their finances well, of course won't think about investing, because they tend to spend the income they have without paying attention to their needs. Yes, that's right, if we explain about Bitcoin to people like that, of course they won't listen and even if they do, they won't be interested in what we explain about Bitcoin to them, because they only think about momentary pleasure by spending the income they have and doesn't think about what will happen if he can't have any more income.

Some people don't think about future and spend whole money but don't realize that if hard time comes then what will they do. Everyone is familiar with bitcoin but some people don't accept bitcoin because they are unable to wait for such a long time. Who desires to invest in bitcoin will invest without learning from others but those who don't have any dream of investment will never understand even we teach them each and everything about bitcoin.

When a person has money then they don't think about investment but if they don't have money then they say that if they wish to have some money that they can use for buying bitcoin. Those individuals who don't have any bitcoin yet will surely wish when they see other fellows to take benefit from it in 2024 but it will be too late as halving again will be four years later.

That is the mindset that we should break, if you are currently financially stable doesn't mean it could last forever, it would still be better to have investments or savings in case of emergency, if you can't handle big amounts there are some methods like the DCA method. Plus for the future of your family, they wouldn't have to think financially. Bitcoin is literally free for everyone to use it could be any person, and the results would depend on their knowledge, skills, mindset, and funds. These factors affect their decision-making when it comes to investing in Bitcoin. I think some really wants to take the risk of accumulating Bitcoin, but it is the negativity, and they focus on its cons, of course, they are having second thought since they've seen how powerful Bitcoin is that it could change someone's life. But if you are living a good life you won't really hassle yourself to invest in something you don't know.

not only savings and investments  but also must have own business instead even if its small but bringing us another smart money also aside from regular work that generates income to feed family .
we must always be prepared to how many coming expenses so savings and investments(in crypto) is not enough for me because the volatility of this market will send us to different outcome.
never put your money completely with this market because it cannot tell when will be the bull and when is the Bear.

[Honyek]

Some people think that bitcoin is a scam as a result of their frequent encounters with fraudulent activities using bitcoin, and sometimes, bitcoin platforms.  No matter how genuine bitcoin as a currency is, frequent encounters of scam with it or its platforms  can change people's mind to consider it as a total scam without distinguishing between bitcoin and scam, but that is not appropriate.  For example,  for the fact that pound or dollar is a genuine currency, does not mean that scammers can not use them for scam, likewise bitcoin.

[so98nn]

Misinformed about what? The entire technology behind it can be studied and is also taught in universities these days. Nothing is misinformative about it if you are looking at it in the wrong direction. These days kids also know what the use of Bitcoin is, high school grads can code cool stuff and post, and doc ones are creating blockchain-associated projects. This far we have come really and if you are going to just read over the internet some random articles from rooky blogs then man obviously one can get carried away.

Peeps are not misinformed they themselves are thinking about it differently. However if you start from the scratch like whitepapers, then dive into practical usage of Bitcoin then one starts understanding how bitcoin works and what it is meant for.

[mv1986]

Misinformed about what? The entire technology behind it can be studied and is also taught in universities these days. Nothing is misinformative about it if you are looking at it in the wrong direction. These days kids also know what the use of Bitcoin is, high school grads can code cool stuff and post, and doc ones are creating blockchain-associated projects. This far we have come really and if you are going to just read over the internet some random articles from rooky blogs then man obviously one can get carried away.

Peeps are not misinformed they themselves are thinking about it differently. However if you start from the scratch like whitepapers, then dive into practical usage of Bitcoin then one starts understanding how bitcoin works and what it is meant for.

This is an oversimplification of how people gather and process information. Kids don't know what Bitcoin is about, but they do know that it exists. Misinformation is definitely an issue and the same way that people are misinformed or disinformed about wars, the same it is for technologies that threaten the legacy institutions. Bank have tried hard for so long to slow down Bitcoin's progress for a reason. They didn't do that because they didn't understand. In fact I believe most of them did understand what it is about and how it can change or shape the world. But they needed time to prepare for that and that is the reason why they suppressed any progress through spreading wrong information whenever and wherever they could. Those who were skeptical about Bitcoin consumed that information and built their own opinion based upon information spread by people or institutions they trust. And believe me, a lot of people still trust their banks without ever daring to look what's happening behind the curtains.

Most people don't even get the concept of money (and it is complicated). Since Bitcoin is more than money, how would those who don't get what money is then get what Bitcoin is?

[Wakate]

Some people think that bitcoin is a scam as a result of their frequent encounters with fraudulent activities using bitcoin, and sometimes, bitcoin platforms.  No matter how genuine bitcoin as a currency is, frequent encounters of scam with it or its platforms  can change people's mind to consider it as a total scam without distinguishing between bitcoin and scam, but that is not appropriate.  For example,  for the fact that pound or dollar is a genuine currency, does not mean that scammers can not use them for scam, likewise bitcoin.

I that was at the earliest time when people do not understand what Bitcoin really means and how to keep there Bitcoin safer. For those that had been holding Bitcoin for a long time now, they know how the market works and the best time to buy and hold Bitcoin because they had been in the market for many years. The misinformation people had then about Bitcoin are now been clarified when they see cryptocurrency investors and those that only invest in just ordinary fiat market or non cryptocurrency platform. The result is very clear and it is not something we need to compare at all.

[Issa56]

Some people think that bitcoin is a scam as a result of their frequent encounters with fraudulent activities using bitcoin, and sometimes, bitcoin platforms.

Because you have been scammed by bitcoin multiple times before, that doesn't mean you should tag it as a scam. All you have to do is do more research about bitcoin, discover why you are being scammed, and learn how to protect yourself from scammers. Some people are looking for quick money, which is why they end up getting scammed. A lot of people have been scammed multiple times with fiat currency, so why is fiat currency not tagged as a scam? Why is it that people keep on using fiat currency? If you don't know about something, don't just tag it as a scam, try and do more research about it first before concluding.

No matter how genuine bitcoin as a currency is, frequent encounters of scam with it or its platforms  can change people's mind to consider it as a total scam without distinguishing between bitcoin and scam, but that is not appropriate.

Scammers are always trying to make use of any opportunity they have to scam people. Bitcoin is a currency, so we expect scammers to make use of it just the same way they are making use of fiat currency. All we should do is try and look for possible ways to protect ourselves from scammers. Every currency is being used by scammers, and just because scammers are making use of a particular currency doesn't mean we should stop using it.

For example,  for the fact that pound or dollar is a genuine currency, does not mean that scammers can not use them for scam, likewise bitcoin.

It's just annoying when I see people saying bitcoin is being used by scammers. Those people don't have anything to say against bitcoin. That's why they do end up coming with things like that, because I don't see that excuse as a reasonable one to me. They are just looking for fault in bitcoin. Since they can't get it, they decided to start using bitcoin as a scam excuse.

[JunaidAzizi]

but in as much as am trying to share knowledge about Bitcoin to those who lack it, I don't try to force it on anyone so they won't see me as a scam.

Misinformation and rumors about Bitcoin increased a few years ago when people were not so smart and had no knowledge about Bitcoin and its work. if one person something heard about Bitcoin he forwarded it to many others without investigating whether this is authentic or not and they believed in it. Nowadays the most spreading misinformation is that the Central Bank's Digital Currency will destroy Bitcoin. Many Central banks indeed invented CBDCs and the start came from China where they said that this would go beyond the borders. But today's people are too smart they have easy access to the internet and can easily communicate with all informed people. CBDC does not have the potential to reach the Bitcoin level and if it occurs then it will require a century to destroy Bitcoin but how a centralized system destroys a decentralized system is impossible.

[Sexylizzy2813]

Some people think that bitcoin is a scam as a result of their frequent encounters with fraudulent activities using bitcoin, and sometimes, bitcoin platforms.  No matter how genuine bitcoin as a currency is, frequent encounters of scam with it or its platforms  can change people's mind to consider it as a total scam without distinguishing between bitcoin and scam, but that is not appropriate.  For example,  for the fact that pound or dollar is a genuine currency, does not mean that scammers can not use them for scam, likewise bitcoin.

Some of these people don't even have any experience with anybody in terms of being scammed, they only work on their ignorance, they only hear stories of Bitcoin being used to scammed people or one story related to Bitcoin in a negative way.
These are the same people that need to be taught the in and out of cryptocurrency, 85% would learn while the rest would still live on fake information they have about Bitcoin.
They prefer to be scammed using paper money than Bitcoin, that's because they can see it, they can hold it and feel it (that's paper money) so that way to scam them is some how higher than using Bitcoin, only if Bitcoin is like fiat money I believe people would gain interest and see it as something genuine rather than seeing it as a scam.

[doomloop]

Some people think that bitcoin is a scam as a result of their frequent encounters with fraudulent activities using bitcoin, and sometimes, bitcoin platforms.  No matter how genuine bitcoin as a currency is, frequent encounters of scam with it or its platforms  can change people's mind to consider it as a total scam without distinguishing between bitcoin and scam, but that is not appropriate.  For example,  for the fact that pound or dollar is a genuine currency, does not mean that scammers can not use them for scam, likewise bitcoin.

People who think or say things like that about Bitcoin or cryptocurrencies lack basic knowledge about them or the industry as a whole. Someone who studies and has knowledge about Bitcoin and cryptocurrencies, wouldn't think that way and they would know that a platform or a person using Bitcoin or cryptocurrencies to attempt a scam doesn't make that thing a scam because there can be both positive and negative use cases for anything in the world and it's the user who should be considered good or bad and not the thing.

So, such comments or statements are usually made by new users or investors that have just joined the industry and might have incurred some losses because those who has knowledge or even if they don't but have earned profits wouldn't say such things about Bitcoin and cryptocurrencies.

[Blitzboy]

but in as much as am trying to share knowledge about Bitcoin to those who lack it, I don't try to force it on anyone so they won't see me as a scam.

Misinformation and rumors about Bitcoin increased a few years ago when people were not so smart and had no knowledge about Bitcoin and its work. if one person something heard about Bitcoin he forwarded it to many others without investigating whether this is authentic or not and they believed in it. Nowadays the most spreading misinformation is that the Central Bank's Digital Currency will destroy Bitcoin. Many Central banks indeed invented CBDCs and the start came from China where they said that this would go beyond the borders. But today's people are too smart they have easy access to the internet and can easily communicate with all informed people. CBDC does not have the potential to reach the Bitcoin level and if it occurs then it will require a century to destroy Bitcoin but how a centralized system destroys a decentralized system is impossible.

Indeed, Bitcoin misinformation underscores a larger digital age challenge: separating fact from fiction. Bitcoin was initially misunderstood. Rumours travel rapidly, often unchecked. We're smarter thanks to the internet and a global community of informed people. CBDCs could overshadow Bitcoin plays on a familiar fear: old vs new, centralized against decentralized.

However, Bitcoin's decentralization is a strength. CBDCs are a major leap in digital currency, yet they lack Bitcoin's decentralization. Both can coexist, serving different purposes and beliefs.

[Promocodeudo]

People see Bitcoin as a scam may be, it is because of the experience they have had in the past on the internet, some people have this believe that any crypto-related stuff is a scam, and this kind of people needs reorientation, it could be very difficult to convince this kind of persons to succumb to your own ideology about bitcoin, this same mindset made some people not to invest in the past and they keep referring it, till this moment, I believe Bitcoin has advertised itself enough, this advertise has helped people a lot to make more findings about it, even though you are not sure about some stuff, trying it with a little amount wouldn't be a bad idea, let's not allow our past experience and negative ideology to hinder our chances of being where we want to be.

[Hypnosis00]

People see Bitcoin as a scam may be, it is because of the experience they have had in the past on the internet, some people have this believe that any crypto-related stuff is a scam, and this kind of people needs reorientation, it could be very difficult to convince this kind of persons to succumb to your own ideology about bitcoin, this same mindset made some people not to invest in the past and they keep referring it, till this moment, I believe Bitcoin has advertised itself enough, this advertise has helped people a lot to make more findings about it, even though you are not sure about some stuff, trying it with a little amount wouldn't be a bad idea, let's not allow our past experience and negative ideology to hinder our chances of being where we want to be.

Generally, that was their view based on the rumors and scam news they'd heard, and some based on their experience. We can't deny the fact that scams are everywhere and they use the name Bitcoin to trick innocent individuals who really don't have any idea about it by promising big that exactly changes their mind.
We can accept the fact that news is too influential, we usually think that everything we read online is true but many of them are false. They really need some guidance to make it fully understand otherwise, they will think that they are right and we are wrong.

[Marvelman]

I wont deny Bitcoin's far from perfect.  But write it off for the risks, and you might miss the potential.  Consider how it's decentralizing finance making transfers more seamless globally.  Sure it's no guarantee, but for some its bringing empowerment.  Critics say wait for oversight, but maybe it's about time everyday people had alternatives.  Wild west? Perhaps.  But revolutions get messy.

Bottom line - approach Bitcoin with open eyes about downsides, but also patience as it evolves.  In my view we're witnessing an experiment that, with care, could make finance more inclusive.  So I say keep watchful, but keep open mind.

[Freddie Boyer]

Some people think that bitcoin is a scam as a result of their frequent encounters with fraudulent activities using bitcoin, and sometimes, bitcoin platforms.  No matter how genuine bitcoin as a currency is, frequent encounters of scam with it or its platforms  can change people's mind to consider it as a total scam without distinguishing between bitcoin and scam, but that is not appropriate.  For example,  for the fact that pound or dollar is a genuine currency, does not mean that scammers can not use them for scam, likewise bitcoin.

This is where a proper trading and money management system comes into play to gain profits .

Well, this depends on our perspective too. For those who have read what BTC is and what it is for, it will be very easy to understand, it's just that some people still like to read stupid news that criticizes BTC, for example news about the last big correction is always fried by the media.

[Bushdark]

Some people think that bitcoin is a scam as a result of their frequent encounters with fraudulent activities using bitcoin, and sometimes, bitcoin platforms.  No matter how genuine bitcoin as a currency is, frequent encounters of scam with it or its platforms  can change people's mind to consider it as a total scam without distinguishing between bitcoin and scam, but that is not appropriate.  For example,  for the fact that pound or dollar is a genuine currency, does not mean that scammers can not use them for scam, likewise bitcoin.

Since Bitcoin had been in existence for long, why would a person still think that Bitcoin is a scam. It is obvious that there are people that uses Bitcoin for scam and that does not mean that Bitcoin is scam. Everyone have there own opinion and what they think about but for us that had been in the market for long time and knows how all works. It is our responsibility for us to educate people that do not understand what Bitcoin truly means and the motive of Satoshi for creating a payment system where people can use for transactions without any third party.

[Mate2237]

The core reason why people think that Bitcoin is a scam is a lack of understanding. Not everyone understands the concept of Blockchain, some people hear the "chain" and think it's a cycle just like Ponzi while some others find something to read meaning into. However, the most recent and prevailing reason is fraudulent activities that go on with the help of Bitcoin (You can't blame Bitcoin, it's a currency, anyone can do what they want with it be it good or bad). Today there are a lot of scams out there and it's just too much that it obscures the view of newbies. All the hacking incidents that have happened are also a contribution somehow. So, for these reasons, many people just feel it is not a straight path and that it is a scam.

You don't have to blame those people because they thinking from that dimension because of what has happened to them before. And really those Ponzi Schemes have done something really bad to people in the internet so when the genuine ones came out people will be thinking that it is one those Ponzi Schemes. So when people think from that angle I don't normally blame them but instead I have to educate them about bitcoin. And when I tell about the benefits then I will complete or conclude it with the disadvantages so that they will be mislead.

The misinformation in sometimes is coming from those who are not well knowledgeable on bitcoin. Those who are well granted with bitcoin knowledge always know what to tell people when they are called upon. Many are still ignorant of the blockchain because they have not gotten the real information. There was a day a PhD holder asked me about bitcoin and he was asking what bitcoin can be used for and told the different things bitcoin can be used. And the simple way I told was, bitcoin can be used to buy things online, to pay goods and services, and transfer from one person to another as p2p. And after everything he was satisfied. And I left him.

[Raceonsucced]

Bitcoin: despite the mysterious story of its creator who rocked the financial world with its innovative presence since 2009. Using blockchain technology, BTC transactions are in the spotlight in the digital financial era.

Formerly; Each Bitcoin is achieved through a mining process that involves exciting mathematical competitions, strengthening the validity of transactions, and expanding the block chain. However, like a hero with a dark side, the value of BTC slowly rises and falls on the crest of a wave of market uncertainty.

Do you see Bitcoin as a promising investment or a dual weapon in illegal activities? One thing is certain: it's been a colorful journey from financial frog to digital superstar.

So, will we witness the next financial evolution or crypto drama?
Maybe time will tell.