Reason people are so adamant to invest in Bitcoin

[Ever-young]

Most people has used the word bitcoin in a way whenever they heard it the next thing that quickly comes into their mind is frauds, and this point investment is very hard. There are lots of sites that says invest such amount and received x amount in return all as a ponzi scheme and when they fails it gives bad name to bitcoin because some of those sites only accept bitcoin as a payment method,

I have posted before on a thread on this local board that people are not seeing bitcoin again as fraud or as a ponzi or hyip scheme. People (including Nigerians) all know that bitcoin is not a ponzi scheme unless the person is a bitcoin critic that no mater how you advice him, he will still find something wrong about bitcoin.

You are completely right, people don't longer see Bitcoin as a scam again, they are all aware of what Bitcoin is now, they don't see anything wrong with it again, even when they are being scam, they can now differentiate between the real and fake now.

And they hardly fall into the hands of fraudsters because of the knowledge they had Bitcoin and I'm glad about it because it won't be that difficult again to explain it to people except the person is not interesting in doing anything concerning Bitcoin.

[Dailyscript]

There are various reasons why people choose to not invest in Bitcoin which they know fully well that if they can overcome this part they will surely invest in it. But the main reason i see is ignorance. Most people are very ignorant of starting their Bitcoin journey, there excuses ranges from no capital to invest, how to start investing/ how to not lose there funds if they invest and to mention a few. Bitcoin has an uptrend and downtrend movement which is the same thing to other asset. There are times that an asset will do so well and give good profit and sometimes it will drop in value.

[Sonia_123]

Accepted,this is the main reason why some person can't have faith or trust in Bitcoin no matter how profitable and reliable you explain bitcoin to them, they still feel is scam and they will be scammed, because when introducing other cryptocurrency to them ,they call it Bitcoin because that is the name that goes viral and profitable in digital currency and investment, and so i don't blame those who are still adamant to know that bitcoin is genuine and different from others .
We need to start changing that perspective,by asking them to get full details of the investment they want to go into. Any way i think they are not being told the truth,which is the first scam.

[laijsica]

There are various reasons why people choose to not invest in Bitcoin which they know fully well that if they can overcome this part they will surely invest in it. But the main reason i see is ignorance. Most people are very ignorant of starting their Bitcoin journey, there excuses ranges from no capital to invest, how to start investing/ how to not lose there funds if they invest and to mention a few. Bitcoin has an uptrend and downtrend movement which is the same thing to other asset. There are times that an asset will do so well and give good profit and sometimes it will drop in value.

You should also mention the reason for choosing Bitcoin and even though it is volatile, it gives high profits to a large number of people and will continue to pay more in the future. You will also see that the demand for Bitcoin is increasing every day and there is a limited supply for it. There is a risk of capital loss in every investment scheme but the risk of capital loss when you invest solely in Bitcoin is relatively low. Even in this world of inflation Bitcoin can be considered as a hedge for a country which can be positive for the economic system.

[Promocodeudo]

The reason is that our country lacks truth, honesty and sincerity which has helped scammers achieve their goals in frauding ,even within family members, friends and others are no longer who you really think they are when it comes to money, i don't know if it is our economy, situations we find ourselves has turned people behaving like that or it has to do with our moral upbringing. Lies has become the order of the day in our country and so people are confused when it has to do with Bitcoin because even if they you have the real source that is genuine ,they are sceptical of being scammed again not that they don't believe or adamant, is to get a trustworthy person. Our society now, knows Bitcoin is real.

In my personal view of what you have said so far, it is not a doubtful event but the fact still remain that Bitcoin is scam free and clean, scam has been on the rise recently, I wouldn't say that there are certain things that may have trigger it as it is now but then one will only attribute bitcoin to scam if he or she does not understand the concept and the reason of its existence, although it is very difficult to convince someone to believe what he sees as an uncertainty, when we talk about lies, is bitcoin built on falsehood, as an investor this should always be your backup reasoning, the major concern of every investor should be, how to buy, how to keep accumulating and hold for a longterm to a profitable end, Bitcoin does not have a hidden transactions, for me I think the major reason why people are adamant in bitcoin investment is lack of understanding and inability to accept that bitcoin is an investment that has the potential of being profitable in the long-term.

[Ethan151]

What you mentioned is insightful, and I would add that a lot of religious people still believe that bitcoin is a bad currency that heralds the end of the world in which everyone will be able to use the same currency. For this reason, they are frightened to invest.

[adultcrypto]

The reason given why people are adamant to invest in Bitcoin are all valid and also reflect on the peculiarity of Nigerians being addressed in the post. Just like the Op rightly said, the economy is the key reason because most people have suspended most of their projects and channel most of their income into food that is taking over 50% of the income of the average Nigerian family as a result of the food inflation.

Another important factor the author have omitted is the aspect where people think that the price of bitcoin have go too high so they will not be able to see big profits from bitcoin again. This is the reason those who have money to invest do look towards other cryptocurrencies and memecoins, as they believe they will make more profit from those. They ignore the dangers of those other cryptocurrency and most time they get burnt. These experiences also contribute to the adamance of people to invest in bitcoin.

[CryptopreneurBrainboss]

To me, to impact people around us maybe our relatives or parents we can call them to order and give them basic knowledge about how the technology is being handled or how it works over times to enable them feels free to join the world changing technology.

All this make we call people to teach dem about Bitcoin no dey always end well oh. Teaching people about Bitcoin and teaching them about the forum na two different things oh so make we dey know the difference before we put ourselves for problem. The country hard on its own and people no go wan lose the small money wey dem get. People get their own reasons why dem no wan invest insides Bitcoin and make we no put too much to try pressure them to invest. People no dey even get spare money again to invest into risky things and to many people Bitcoin dey very risky so e go be why dem dey stay away from Bitcoin make dem no go lose the small one wey dem get. You fit get endurance to hodl but no be so everybody dey.

Another important factor the author have omitted is the aspect where people think that the price of bitcoin have go too high so they will not be able to see big profits from bitcoin again. This is the reason those who have money to invest do look towards other cryptocurrencies and memecoins, as they believe they will make more profit from those. They ignore the dangers of those other cryptocurrency and most time they get burnt. These experiences also contribute to the adamance of people to invest in bitcoin.

This one na one big mistake wey plenty newbies sabi make and I no go blame them sha because we make the same mistake too when we dey start. I dey always regret say assuming I being just dey accumulate Bitcoin when I first join this industry, only God knows the kind wealth wey I for dun get by now but by following the crowd say make I put money for altcoins na 99% of them dun die along my journey for the industry. Nothing sure pass say you buy Bitcoin hodl am oh, altcoins money dey come fast but Bitcoin money na steady income because you no go get fear say the market go carry am go.

[Coyster]

What you mentioned is insightful, and I would add that a lot of religious people still believe that bitcoin is a bad currency that heralds the end of the world in which everyone will be able to use the same currency. For this reason, they are frightened to invest.

Lol, this is why quite a lot of people dey talk say religion is the bane of the masses and it causes people to be ignorant without question. I never really meet any person in real life wey talk say dem no wan use bitcoin because of their religion, but i know say e dey very possible, because some people do not get involved or use some aspects of science and technology because of their religious beliefs, so dem fit also avoid bitcoin for that same reason. I pity people who do such and i hope they quickly wake up and understand how crucial science and technology is to our existence.

[Uhochi]

As we know bitcoin is the fastest growing digital currency outside from other altcoin we know today, most times I have come to reason why most people don't like invest into a bitcoin like to utilize the opportunity as it's still minor and accumulates enough.

Here are some of my findings; you know with the
condition of our country is going it's very hard to understand that bitcoin is not just a digital currency but as a store of value and people doesn't necessarily utilize the usefulness of it creations instead lot of people are using it for immoral activity such as scamming purposes.

Bitcoin is no longer something we're hawking from door to door or raising awareness about like it was a few years ago. Whether you advertise it or not, it's already old news, and whether someone finds it worthwhile to buy or not makes no difference; it's already received the attention it deserves.

That being stated, no one can be forced or expected to invest in or buy Bitcoin. And, not everyone with an interest has the money to invest, and not everyone with the money is interested in it..

me, to impact people around us maybe our relatives or parents we can call them to order and give them basic knowledge about how the technology is being handled or how it works over times to enable them feels free to join the world changing technology.

This isn't necessarily; anyone who's interested in something always find a way out.

You're right, Bitcoin isn't new anymore, and not everyone is interested or able to invest. But for those who are interested, let's focus on learning and making informed decisions, rather than following the crowd or feeling pressured to invest.

The thought of Bitcoin sparks excitement, hope, and fear for people. For some, it's a chance at financial freedom and security. For others, it's the thrill of being part of something new. Bitcoin represents possibility and potential.

But investing in bitcoin is a patient, long-term decision.

 People are adamant to invest because they dream of breaking free from debt and achieving financial independence too quickly.

 Anyone with a 'get rich quick' scheme mindset might probably find Bitcoin investment a waste.

[asarfiar]

In the world of Bitcoin investment, informed decision making, effective risk planning is very important, something that is not seen among Nigerians. Nigerians perceive Bitcoin investment as uncertain and unpredictable, unrelated to their socio-economic and economic activities. But I think Nigerians will continue to be global leaders and pioneers in BTC adoption and will play an important role in shaping the future of blockchain cryptocurrencies through Bitcoin investment.

[Oshio-man]

There are many reasons people are adamant to invest in bitcoin, first, Based on decentralized currency bitcoins is, which is not control by d government and it bull wen there is time to bull in d market to allow holders to earn income, secondly d longer u hold bitcoin in your wallet, it create more opportunity for u to accumulate income in d future which are part of some of d things dat is making people to put their money into bitcoin, thirdly, It is safe and secure in your wallet wen u make use of solid wallet to store or hold your bitcoin which are part of some of d things dat is making people to be adamant to invest their money in bitcoin.

[Juicyhome]

There are many reasons people are adamant to invest in bitcoin, first, Based on decentralized currency bitcoins is, which is not control by d government and it bull wen there is time to bull in d market to allow holders to earn income, secondly d longer u hold bitcoin in your wallet, it create more opportunity for u to accumulate income in d future which are part of some of d things dat is making people to put their money into bitcoin, thirdly, It is safe and secure in your wallet wen u make use of solid wallet to store or hold your bitcoin which are part of some of d things dat is making people to be adamant to invest their money in bitcoin.

You're right mate,  if Bitcoin was control by any individual or government people won't invest in it, because they will manipulate the market prices, the decentralisation made Bitcoin more valuable than dollar and other currency in the world this control by government and economists. Bitcoin is more profitable when you hold for long ,so it's open for everyone to buy and sell at there will.

[Lida93]

Most people has used the word bitcoin in a way whenever they heard it the next thing that quickly comes into their mind is frauds, and this point investment is very hard. There are lots of sites that says invest such amount and received x amount in return all as a ponzi scheme and when they fails it gives bad name to bitcoin because some of those sites only accept bitcoin as a payment method,

I have posted before on a thread on this local board that people are not seeing bitcoin again as fraud or as a ponzi or hyip scheme. People (including Nigerians) all know that bitcoin is not a ponzi scheme unless the person is a bitcoin critic that no mater how you advice him, he will still find something wrong about bitcoin.

It is actually what it is right now, majority of Nigerians have been more enlighten about what bitcoin really serves than they just thinking about it as a scam or some ponzi scheme at their initial of just hearing about it. And I don't blame them if we are to go by the many different ponzi schemes and digital currency scam projects that found their way into the country and swept many people of their funds taking them from grace to grass. It's just those stick in the mud of the ugly experiences of those fake schemes they were ones lured into that have lurk on calling bitcoin a scam and criticizing it as they wish. But I am with some hope that with time such critics will see the difference about what bitcoin truly is.

[Igebotz]

It is actually what it is right now, majority of Nigerians have been more enlighten about what bitcoin really serves than they just thinking about it as a scam or some ponzi scheme at their initial of just hearing about it. And I don't blame them if we are to go by the many different ponzi schemes and digital currency scam projects that found their way into the country and swept many people of their funds taking them from grace to grass. It's just those stick in the mud of the ugly experiences of those fake schemes they were ones lured into that have lurk on calling bitcoin a scam and criticizing it as they wish. But I am with some hope that with time such critics will see the difference about what bitcoin truly is.

Nothing will change if our local celebs continue to create pump and dump tokens and defraud fans without consequences; we've already had over three fake tokens issued this year, and no one has been jailed or forced to compensate individuals who lost their investments. If this continues and individuals continue to lose money, they will begin to regard crypto as a Ponzi scheme in which you invest with no promise of profit.

I read so many negative comments from first-timers, and you could tell from their tone of voice that nothing would ever convince them to return to crypto after their first experience.

[Lida93]

It is actually what it is right now, majority of Nigerians have been more enlighten about what bitcoin really serves than they just thinking about it as a scam or some ponzi scheme at their initial of just hearing about it. And I don't blame them if we are to go by the many different ponzi schemes and digital currency scam projects that found their way into the country and swept many people of their funds taking them from grace to grass. It's just those stick in the mud of the ugly experiences of those fake schemes they were ones lured into that have lurk on calling bitcoin a scam and criticizing it as they wish. But I am with some hope that with time such critics will see the difference about what bitcoin truly is.

Nothing will change if our local celebs continue to create pump and dump tokens and defraud fans without consequences; we've already had over three fake tokens issued this year, and no one has been jailed or forced to compensate individuals who lost their investments. If this continues and individuals continue to lose money, they will begin to regard crypto as a Ponzi scheme in which you invest with no promise of profit.

Its one problem with our own part of the world, a society where you have stronger individuals and weaker institutions people will mostly get away with even the grievous crimes without questions from any quarters. Like the DAVIDO meme coin, when I first heard about it I shrouded my shoulders without a second thought of wanting to know much about it because based on knowledge and experience I could actually tell how's gonna end for those that would ignorantly sink their funds there.

I read so many negative comments from first-timers, and you could tell from their tone of voice that nothing would ever convince them to return to crypto after their first experience.

For many of us we were quite fortunate to have begun our crypto journey as first timers with the right cryptocurrency (bitcoin) which is what makes the huge difference about what we know in the industry from what they do know.

[Tmoonz]

One of the reason why a lot of people has refused and failing to recognize the potential that Bitcoin holds is that they have categoriesed Bitcoin in terms of other coins perhaps Bitcoin and other coins are not the same considering the fact that Bitcoin is the lead coin of other coins such that even the performance of other coins depends on Bitcoin, because some people who have invested in other coins that finally become a scam project hence a lot of people have also considered Bitcoin to be the same which I see as being short sighted. Bitcoin is a good project that has a solid foundation. Another reason why some people have refused to invest in Bitcoin is that what majority are looking out for is a quick and get rich scheme of which Bitcoin is not.

[Jaycoinz]

Accepted,this is the main reason why some person can't have faith or trust in Bitcoin no matter how profitable and reliable you explain bitcoin to them, they still feel is scam and they will be scammed, because when introducing other cryptocurrency to them ,they call it Bitcoin because that is the name that goes viral and profitable in digital currency and investment, and so i don't blame those who are still adamant to know that bitcoin is genuine and different from others .
We need to start changing that perspective,by asking them to get full details of the investment they want to go into. Any way i think they are not being told the truth,which is the first scam.

Well the country and the way people are doing with scam is also part of that strong negativity thats going on with people about Bitcoin too. So many people feel that Bitcoin is everything and anything connected to fraud and it's majorly a scam something but little did they know that the whole thing is actually the other way round as Bitcoin is just the same.but just the better version of their favoured overated Fiat currency.

[Ojinga]

As we know bitcoin is the fastest growing digital currency outside from other altcoin we know today, most times I have come to reason why most people don't like invest into a bitcoin like to utilize the opportunity as it's still minor and accumulates enough.

Here are some of my findings; you know with the
condition of our country is going it's very hard to understand that bitcoin is not just a digital currency but as a store of value and people doesn't necessarily utilize the usefulness of it creations instead lot of people are using it for immoral activity such as scamming purposes.

I could sight an example of mother whose child is into Bitcoin investment and during maturity the son happened to have sold his bitcoin to fiat after which he took some percent of the money to the mother and brother who are yet to open their eyes about latest development turn it all round for him that he is a fraudster how could he distance home for the duration of 2 to 4 years and came back home with a changing lifestyle, that he is trying to hide his evil activity that he is a scammer and the money was rejected.

To me, to impact people around us maybe our relatives or parents we can call them to order and give them basic knowledge about how the technology is being handled or how it works over times to enable them feels free to join the world changing technology.

Most people has used the word bitcoin in a way whenever they heard it the next thing that quickly comes into their mind is frauds, and this point investment is very hard. There are lots of sites that says invest such amount and received x amount in return all as a ponzi scheme and when they fails it gives bad name to bitcoin because some of those sites only accept bitcoin as a payment method, so even though you go with a genuine intention to tell them the real world about bitcoin they already feels exhausted and hated the word Bitcoin at this point pulling out their heart earned money to invest in bitcoin is like sinking their money into a none fruitful site again with their past experience.

And those are the reason why the government don't want it to be regulated because of this scammer's, claiming to be legit but just frauding people all round the world if only Bitcoin trys to fight out all this. I'll believe that people or the government won't dought Bitcoin in anyways again, but right now both the parents are not trusting their children when they tell them that they're doing legit business either they'll call them scammer's. For me let crypto currency trys to look into those platforms which they say they're traders but by the end of the day they turn to be fraudulent people, if they put more effort then the government will likely make them to be centralized and get regulated as well.

[Juicyhome]

As we know bitcoin is the fastest growing digital currency outside from other altcoin we know today, most times I have come to reason why most people don't like invest into a bitcoin like to utilize the opportunity as it's still minor and accumulates enough.

Here are some of my findings; you know with the
condition of our country is going it's very hard to understand that bitcoin is not just a digital currency but as a store of value and people doesn't necessarily utilize the usefulness of it creations instead lot of people are using it for immoral activity such as scamming purposes.

I could sight an example of mother whose child is into Bitcoin investment and during maturity the son happened to have sold his bitcoin to fiat after which he took some percent of the money to the mother and brother who are yet to open their eyes about latest development turn it all round for him that he is a fraudster how could he distance home for the duration of 2 to 4 years and came back home with a changing lifestyle, that he is trying to hide his evil activity that he is a scammer and the money was rejected.

To me, to impact people around us maybe our relatives or parents we can call them to order and give them basic knowledge about how the technology is being handled or how it works over times to enable them feels free to join the world changing technology.

Most people has used the word bitcoin in a way whenever they heard it the next thing that quickly comes into their mind is frauds, and this point investment is very hard. There are lots of sites that says invest such amount and received x amount in return all as a ponzi scheme and when they fails it gives bad name to bitcoin because some of those sites only accept bitcoin as a payment method, so even though you go with a genuine intention to tell them the real world about bitcoin they already feels exhausted and hated the word Bitcoin at this point pulling out their heart earned money to invest in bitcoin is like sinking their money into a none fruitful site again with their past experience.

And those are the reason why the government don't want it to be regulated because of this scammer's, claiming to be legit but just frauding people all round the world if only Bitcoin trys to fight out all this. I'll believe that people or the government won't dought Bitcoin in anyways again, but right now both the parents are not trusting their children when they tell them that they're doing legit business either they'll call them scammer's. For me let crypto currency trys to look into those platforms which they say they're traders but by the end of the day they turn to be fraudulent people, if they put more effort then the government will likely make them to be centralized and get regulated as well.

Ask yourself it's only bitcoin scammers are using to scam people? Why are you people talking as if is only bitcoin they are using to scam people. Bankers do scam their customers with hard currency, there is nothing bitcoin can do about those using it to scam people,  how would they know the transaction that's from scammers? Bitcoin is decentralized isn't control by anybody. There is no currency scammers are not using to scam people. Just in Nigeria whosoever that's into bitcoin or any cryptocurrency are tagged criminals, this alone chase away genuine people that want to invest in it. But regardless keep investing since you're not using it to scam people,  use it genuinely.