Why Many People Understand Bitcoin but Still Don’t Buy It.

[fuguebtc]

May be OP can add laziness or procrastination towards learning as one of the reasons in his list.
Some people are just lazy and do not want to "learn" about bitcoin and what it is all about.
I know some people in my circle who are aware of bitcoin but are not willing to learn more about it because they are lazy.
Despite telling them to learn they still give excuses and thus don't invest in bitcoin.

In this case, I do not think your friend are lazy when it comes to learning about Bitcoin. Instead, it seems they are simply not interested in it, because people tend to become lazy about thing they do not care about or do not want to care about. And you cannot feel upset or call them lazy just because they do not like Bitcoin or do not share the same mindset as you

Bitcoin is not the only financial instrument, asset, or investment in the world. There are many different option, and everyone has different tastes. So it is no surprise that plenty of people who know Bitcoin well have chosen not to invest in it.

[Pandorak]

I would say that it's actually the opposite. Too many people don't understand Bitcoin but still buy it because they heard its good or their friend or relative said it's good for investment.
Those, who truly understand Bitcoin, know its value and most of them have invested into it, if not all of them. If someone understands it and still doesn't buy it, most likely they aren't interested into financial benefits that this coin can potentially offer to long-term investors and they use Bitcoin mostly for making payments. That's just my logical explanation.

I agree. Doubts always arise because people don’t fully understand what they’re doing, just like with Bitcoin investing, the first thing to learn is the basics of Bitcoin. That way, you’ll have some understanding, even if it’s just a little and that’s a good place to start.

Once someone has a deep understanding of Bitcoin potential and future benefits, i don’t think there’s any reason to delay or dismiss it outright. If there is, it’s certain that person doesn’t truly understand it.

[Floxynice]

I would say that it's actually the opposite. Too many people don't understand Bitcoin but still buy it because they heard its good or their friend or relative said it's good for investment.
Those, who truly understand Bitcoin, know its value and most of them have invested into it, if not all of them. If someone understands it and still doesn't buy it, most likely they aren't interested into financial benefits that this coin can potentially offer to long-term investors and they use Bitcoin mostly for making payments. That's just my logical explanation.

I agree. Doubts always arise because people don’t fully understand what they’re doing, just like with Bitcoin investing, the first thing to learn is the basics of Bitcoin. That way, you’ll have some understanding, even if it’s just a little and that’s a good place to start.

Once someone has a deep understanding of Bitcoin potential and future benefits, i don’t think there’s any reason to delay or dismiss it outright. If there is, it’s certain that person doesn’t truly understand it.

I also agree with Synchronice. Anyone who really understands Bitcoin will have no doubt in his mind about investing in it. The only challenge he may be facing at the moment is capital, but once he has the capital readily available, he will invest because he already understands the risks and the future rewards.

I am not concerned about those who claim to understand Bitcoin but still have no interest in investing. We should be feeling sorry for those who are investing because of the hype Bitcoin gets. Those who do not understand Bitcoin and choose not to invest can be better off than those who do not understand it yet invest heavily. No one should be encouraged to take risks blindly because losing to something you do not fully understand can hurt deeply.

[ndutndut]

May be OP can add laziness or procrastination towards learning as one of the reasons in his list.
Some people are just lazy and do not want to "learn" about bitcoin and what it is all about.
I know some people in my circle who are aware of bitcoin but are not willing to learn more about it because they are lazy.
Despite telling them to learn they still give excuses and thus don't invest in bitcoin.

In this case, I do not think your friend are lazy when it comes to learning about Bitcoin. Instead, it seems they are simply not interested in it, because people tend to become lazy about thing they do not care about or do not want to care about. And you cannot feel upset or call them lazy just because they do not like Bitcoin or do not share the same mindset as you

Bitcoin is not the only financial instrument, asset, or investment in the world. There are many different option, and everyone has different tastes. So it is no surprise that plenty of people who know Bitcoin well have chosen not to invest in it.

It makes sense as you say. We can't say people are lazy because they're not interested in learning about Bitcoin because everyone has different choices when it comes to investing or hedging. In my area there are many people with a lot of money who aren't interested in Bitcoin; they're more comfortable investing in gold. So, we don't call someone lazy because they have a lot of money it means they're diligent, but they're not interested in Bitcoin because they don't master it or understand it.

Sometimes we can't force someone to like Bitcoin because everyone has their own way of thinking and financial management, whether it's protecting their value or seeking future profits. There are also those who understand Bitcoin but don't invest because they don't have the extra money as their income is only enough for daily and monthly expenses. But this is good because by understanding Bitcoin, we will strive to find additional income so we can invest in Bitcoin.

[Peanutswar]

Based on my observation here in my country some of the people arent aware with the existence of the bitcoin so they prefer still with the old way which is the traditional way of savings and investment, which is banking or even tangible thing assets. Others are aware with the bitcoin but few of them are still afraid to make an investment reason is the society and social media feeds to them which is all about bad use of the bitcoin.

6. Lack of Financial Flexibility:

Like with the quoted is not all of them have the capability to make an investment others would like to prefer use the money for their daily survival with this current economic stand so instead they made an investment they need to pay bills, help their families and make themselve capability to eat and have their own shelter than making an investment with the bitcoin. Cant blame them money is valuable.

[Synchronice]

It is one thing to understand something that is as volatile as bitcoin and a completely different thing to have the balls to actually invest in it.

Honestly, I think that it doesn't take much balls to invest in Bitcoin. It has still a huge room for growth and there are many reasons that we can list about why the price will go up in the next 4, 8, 12 years.
Honestly, to my mind, it takes balls to invest in Apple, Tesla and other stocks because they are already very saturated.

Like OP has said, there are people that understands bitcoin really well but are not invested in bitcoin because some of them are not financially buoyant to doing so while some others are not good in terms of taking risk. knowledge is one thing but the bigger thing is acting on the information you have. just like those that didn't invest in bitcoin because they lack information and the right knowledge, those that have the knowledge but that are not acting on it are not any different.

If someone really understands Bitcoin, then they should understand that there are too many reasons for Bitcoin's price to rise. If we assume that they understand Bitcoin and understand those reasons for its growth, then why aren't they investing into Bitcoin? Don't they want extra financial profit? Or can't they wait for a couple of years for Bitcoin's price to bring profit? And couple of years of waiting are only necessary when you buy Bitcoin at its peak price.

[EL MOHA]

I agree. Doubts always arise because people don’t fully understand what they’re doing, just like with Bitcoin investing, the first thing to learn is the basics of Bitcoin. That way, you’ll have some understanding, even if it’s just a little and that’s a good place to start.

Once someone has a deep understanding of Bitcoin potential and future benefits, i don’t think there’s any reason to delay or dismiss it outright. If there is, it’s certain that person doesn’t truly understand it.

While I agree with you I think there are people who I think they actually understand the concept of bitcoin due to their financial knowledge but they are highly sitting aside and hating bitcoin. The reason could simply be that they sees bitcoin as a competition to their other assets or currencies example is the likes of Peter Schiff who personally I think would not be ignorant of the importance of bitcoin but rather he actually doesn’t wants to stick to bitcoin because he has called it out multiple times that the coin is actually going down and he thinks for his ego he needs to be a bitcoin hater

[retreat]

1. Fear of Losing Money:

Many people are still scared of losing money because they understand how highly volatile bitcoin is naturally, this is the reason why some people didn’t invest in bitcoin when it was very cheap in price and today they regret there actions.
-snip-

People who invest their money in Bitcoin will never lose it if they don't sell. Many people think that when the value of their Bitcoin drops, it means they've lost some of their money. However, this is simply an unrealized loss. It can't be considered "losing money" as they think. If the price of Bitcoin returns to the point where they bought it, the loss will be automatically eliminated. Therefore, it's recommended not to sell when they're in a losing position, as it's pointless, as they'll only miss out on the opportunity to recover their losses.

[sunsilk]

I agree. Doubts always arise because people don’t fully understand what they’re doing, just like with Bitcoin investing, the first thing to learn is the basics of Bitcoin. That way, you’ll have some understanding, even if it’s just a little and that’s a good place to start.

Once someone has a deep understanding of Bitcoin potential and future benefits, i don’t think there’s any reason to delay or dismiss it outright. If there is, it’s certain that person doesn’t truly understand it.

Having doubts are normal and they're even going to trigger more when the market doesn't look good. They'll think that it's the end of bitcoin when the price just keeps on dropping.

But you're right that when they truly understand bitcoin and the potential of it, they'll remove that doubt and will even blame themselves why it took them long to understand that.

They'll take the example of the early investors and the mid ones who held for so long and took profits lately from the last bull run.

[Bryan jessy]

One thing I know that stop people from investing in bitcoin is that, they are not ready to lose. Bitcoin is a highly volatile, risky asset and anytime losses could appear especially if you decide to sell at a wrong timing.

They clearly have known and understood the potentials of bitcoin, but because the risk to lose is certain with bitcoin, that becomes a barrier not to deal with bitcoin as an asset or investment. I think this is normal for any investor. But if you stay attached to that kind of mindset, you will not really get far with any potential investment, most particularly for bitcoin where high risk-tolerance is an utmost requirement.

Lots of people who are knowledgeable about Bitcoin but does not invest or have any Bitcoin in their possession, could be due to lack of income and for someone to hold Bitcoin for long term investment, a person must, then a discretionary income is relevant or a stable source of income, so it is not only about knowing what Bitcoin is and how it works but for a person who wants to participate in Bitcoin investment, it requires more than the knowledge to operate effectively without losing one's self, if stuck in dip and losses. With a solid financial backups and the knowledge Bitcoin investment is a work over for a person who has attain such level after all.

[bakasabo]

Maybe investing are not for people who know what Bitcoin is. If someone knows what is investing or about anything that can bring profit, that person not necessarily must invest money into that. Some people know different methods how to make money but prefer to do nothing with their money, even though they can get income easily. There are people who are familiar with bitcoin, but arent happy how little they can earn from it now. They dont want hundreds of income, but want thousands of income.

[pawanjain]

May be OP can add laziness or procrastination towards learning as one of the reasons in his list.
Some people are just lazy and do not want to "learn" about bitcoin and what it is all about.
I know some people in my circle who are aware of bitcoin but are not willing to learn more about it because they are lazy.
Despite telling them to learn they still give excuses and thus don't invest in bitcoin.

In this case, I do not think your friend are lazy when it comes to learning about Bitcoin. Instead, it seems they are simply not interested in it, because people tend to become lazy about thing they do not care about or do not want to care about. And you cannot feel upset or call them lazy just because they do not like Bitcoin or do not share the same mindset as you

Bitcoin is not the only financial instrument, asset, or investment in the world. There are many different option, and everyone has different tastes. So it is no surprise that plenty of people who know Bitcoin well have chosen not to invest in it.

Well yeah, that can be true. May be he is indeed not that interested in bitcoin after all.
Who doesn't want to make money ? Investing in bitcoin for a long term will definitely get us some nice profits.
But if the person himself is not interested in bitcoin then he will come up with any excuse or just act but do nothing about it.
It's probably better to not keep convincing him for investing in bitcoin going forward.

[dzungmobile]

Well yeah, that can be true. May be he is indeed not that interested in bitcoin after all.
Who doesn't want to make money ? Investing in bitcoin for a long term will definitely get us some nice profits.
But if the person himself is not interested in bitcoin then he will come up with any excuse or just act but do nothing about it.
It's probably better to not keep convincing him for investing in bitcoin going forward.

Money is important for our life especially if we can not self serve ourself and our family. In modern society, self-serving is almost impossible so it's very right to say money is important for us. It results in the need of making money and investment is one of such money-making ways but not all people will choose investment. As said there are other ways that can be better or worse than investment, and it's very individual choice and decision. Even some people have same interest in investment, which assets they pick for their investment portfolios can be different, and the market they participate in can be very different too.

Bitcoin is not the only investment asset for all investors, and people who ignored Bitcoin are not actually the ones who don't care about making money.

[BlackHatCoiner]

I think most people just don't trust themselves to hold it. Actually sitting on a chair and watching how to manage your keys is something that requires attention and carefulness, two things that most people don't have today, because their attention span is toasted.

Then it is the volatility of course. You need a stomach to go through -50% drawdowns, I'll give them that.

[Queen uloma]

I think most people just don't trust themselves to hold it. Actually sitting on a chair and watching how to manage your keys is something that requires attention and carefulness, two things that most people don't have today, because their attention span is toasted.

Then it is the volatility of course. You need a stomach to go through -50% drawdowns, I'll give them that.

I agree with you, but another reason is that many people prefer convenience over responsibility. Holding your own private keys, gives you full control to protect your wallet, but it’s also means that if you make any mistake or lose access to your private key, no one can help you recover it. Because of that fear many people choose platforms that will manage everything for them. As for volatility, it’s not everyone that has the mind to watch their investment drop 50% without panicking. To survive this kind of market movement, a person needs strong, emotional control, and conviction. So now I understand why people prefer to leave their responsibility for another person instead of them handling it themselves.

[DiMarxist]

I think most people just don't trust themselves to hold it. Actually sitting on a chair and watching how to manage your keys is something that requires attention and carefulness, two things that most people don't have today, because their attention span is toasted.

Then it is the volatility of course. You need a stomach to go through -50% drawdowns, I'll give them that.

I don't think that, the reason why someone who really understands Bitcoin but, don't want to get involved in it is because such a person doesn't trust himself managing keys. To me if someone is informed and is well enlightened about Bitcoin then , such a one is not just interested in holding Bitcoin. Because I don't see the reason why someone who is aware about Bitcoin and the problem that, Bitcoin tries to solve that will not like to get involved in it.