Common Bitcoin Misconceptions People Still Believe

[Hardyrobust]

1. Bitcoin is just for the rich.

Interestingly enough I recently encountered this one recently IRL when we were talking about Bitcoin I realized they believed bitcoin is just for the rich because they were only hearing the price for one whole bitcoin (which is $100k+) and they thought they needed to have that much money to buy bitcoin!

There are still people who don't know that they can buy a fraction of bitcoin, with 8 decimal places...

Maybe we should start reporting the price for smaller units. Something like what gold does (per ounce rather than per kilogram!).

you dey correct, there are plenty people that think say bitcoin na only for the rich people. This is because they think say they can only buy bitcoin in a whole.e dey good for someone to dey inform, because is power. E get time wey me self been think like this people, I come dey feel say na only rich people fit buy bitcoin because of the price of one bitcoin. Na also this reason they make some people to feel that e dey late for them to buy bitcoin.

[Majestic-milf]

 The thing there be say some people no really like Bitcoin so e go dey easy to convince them and for them to also harbour their own misconceptions. Another set of human beings na the type wey like to draw their own conclusions based off of the sayings of others so if the likes of Peter Schiff, Jamie Dimon and co just say something nasty, them don settle am for their minds say nothing come out for the coin called Bitcoin so for me, nah the mindset of the individual wey go even determine whether them go believe such baseless assumptions.

[Shineup]

1. Bitcoin is just for the rich.

This particular misconception is the reason why it is  adviced not to let people know you even hold bitcoin, if people with this mentality of "bitcoin is only for the rich" gets to know you are a holder they assume you are rich, ofcourse not everyone mean good for you so this may lead to kidnapping, robbery, etc. Stay safe my people.

We see people getting against the next man that they are in more financial stable condition compared to them still they don't want any good comes to them not to talk of them knowing that you are holding Bitcoin with such mindset of Bitcoin only made for the rich, some people like flaunting or making noise about their achievements, is hard to trust anyone some times it is even some one very close to you that can plan such evil against you, it is good to plan staying safe by being mindful of what we say and those around us, ignorant can be bad .

[MainIbem]

OP, there one I want to add to your statement and it's that Bitcoin could crash lots of people have this mentality that since Bitcoin is volatile and they've seen it deep on several occasions, that it could crash someday without being able to bounce back, I've had an encounter with several folks I tried to advice concerning buying Bitcoin while it's still early and their statement in our local language was What if eh crash.