Attack on crypto currency, lack of understanding of block chain technology.

[Olotu20]

Cryptocurrency is a new financial technology that is revolutionizing  the way people send, receive, and even store their money. Built on block chain technology, cryptocurrencies such as Bitcoin allow transactions to take place without the need for traditional banking systems.

While younger generations have come to embraced this innovation many older people still find it difficult to adapt to it because they are used to the use of traditional Fiat banking system, which they have to go to the bank open an account before operating.This is as a result of lack of sufficient  knowledge about crypto technology which also includes the issue of security of your funds.

 It's my belief that the older generation of people especially in developing countries like Nigeria are still struggling to come to terms with the revolution that has taken place in the financial system where an individual will hold Custody of their money without the need of a Bank. Hence the constant misunderstanding of what crypto currency like Bitcoin really entails, anytime you see anyone talking evil crypto just know that such person is still struggling to come to the change that has taken place over time in the financial sector

[BIT-BENDER]

Not all younger generation have come to accept Crypto-currency and not all older generation hate Crypto-currency it is based on personal experience and preferences.
Most people when they hear about Crypto-currency they start to let there thinking run wild, some people think first of trading, some think it's all about Ponzi scheme other can describe it as a big money laundering option this is not only in developing country because now many developing countries are accepting Crypto-currency, the so called developed countries to have this distorted believe about Crypto-currency.
It is not necessarily lack of understanding some people especially in government just don't want other to have financial freedom for people so they hate and brandish Crypto-currency with all types of evil names.

[Orpichukwu]

Don't make it sound as if older people don't like innovation; anyone can embrace whatever they feel like is good; it's not about age. Once you have access to information, reading and grabbing whatever information you need from it is all that matters.

Some young people still consider crypto to be a scam, while we have a few older people who are into it. It's a matter of how they look at the information in front of them and where they get it from that determines and sharpens their mind how they look at the information.

[Exitoral]

Cryptocurrency is a new financial technology that is revolutionizing  the way people send, receive, and even store their money. Built on block chain technology, cryptocurrencies such as Bitcoin allow transactions to take place without the need for traditional banking systems.

While younger generations have come to embraced this innovation many older people still find it difficult to adapt to it because they are used to the use of traditional Fiat banking system, which they have to go to the bank open an account before operating.This is as a result of lack of sufficient  knowledge about crypto technology which also includes the issue of security of your funds.

 It's my belief that the older generation of people especially in developing countries like Nigeria are still struggling to come to terms with the revolution that has taken place in the financial system where an individual will hold Custody of their money without the need of a Bank. Hence the constant misunderstanding of what crypto currency like Bitcoin really entails, anytime you see anyone talking evil crypto just know that such person is still struggling to come to the change that has taken place over time in the financial sector

Please and please, cryptocurrency shouldn't be referred to as new anymore. It's been around for over 15 years now. Cryptocurrency is not new anymore. And I don't think they are really criticising cryptocurrency; they still don't understand it. Younger people have already grasped the idea of it and are already using it. At the end of the day, it's not as if it's all old people that don't want to use it or understand it. Some don't just care.

So I wouldn't say old people are finding it hard to adopt it; they don't just care. What I have noticed is that young people will go for whatever gives them ease. Old people are not always like that.

[Joy- maker]

Let's know this and know peace, not everybody is required to adopt bitcoin therefore never you view those people who have decided or chosen not to adopt bitcoin as people who are just behind on understanding how the financial sector has evolved.

If not for the fact that we are on this forum most of couldn't have adopted bitcoin, most of us here adopted bitcoin after discovery that bitcoin is beyond what we think. And if not for the fact that bitcoin can give good retunes when you buy a decent amount of it and hold for long term i don't think most of here would be interested in bitcoin.

To wrap it up, most of us are preaching bitcoin, interested in bitcoin today and so on because it is a store of value and a big edge against inflation, you are free to argue with your keyboard if wish.

[CryptoHeadlineNews]

Cryptocurrency is a new financial technology that is revolutionizing  the way people send, receive, and even store their money. Built on block chain technology, cryptocurrencies such as Bitcoin allow transactions to take place without the need for traditional banking systems.

While younger generations have come to embraced this innovation many older people still find it difficult to adapt to it because they are used to the use of traditional Fiat banking system, which they have to go to the bank open an account before operating.This is as a result of lack of sufficient  knowledge about crypto technology which also includes the issue of security of your funds.

 It's my belief that the older generation of people especially in developing countries like Nigeria are still struggling to come to terms with the revolution that has taken place in the financial system where an individual will hold Custody of their money without the need of a Bank. Hence the constant misunderstanding of what crypto currency like Bitcoin really entails, anytime you see anyone talking evil crypto just know that such person is still struggling to come to the change that has taken place over time in the financial sector

It's true that in Nigeria, the majority of the people who are into Bitcoin and uses it for their day to day transactions are the youth, coupled with a few classes of adult, while the majority of the old have absolutely nothing to do with it. Since it is a new technology, and they have been used to fiat all there lives.

[Hypnotizer]

While younger generations have come to embraced this innovation many older people still find it difficult to adapt to it because they are used to the use of traditional Fiat banking system, which they have to go to the bank open an account before operating.This is as a result of lack of sufficient  knowledge about crypto technology which also includes the issue of security of your funds.

Older people especially in Nigeria, have the mentality of being skeptical about anything new that comes their way and Cryptocurrencies isn’t the first, some older people don’t even have a traditional bank account JSYK….they prefer storing their money themselves and using it in cash.

It’s all about Trust, the reason why some people use the traditional banking system is because they trust it and the government offers to insure it, some people don’t even trust the traditional banking electronic money…as soon as they receive money they withdraw all immediately.

So you don’t expect people that don’t even trust these systems that have physical appearance and government insurance to trust a digital currency with no physical appearance.

[Uhwuchukwu53]

The problem originated from the level of accessibility of the older age towards the technologies development, for instance most of our fathers, mother's even some of our teachers in school lack this advantage of the technology from their child hood what comes out it seems contrary to what they know and believe, to them it seems threat and most of them occupied the position and office of controlling the economy, what you have no knowledge or understanding improving on it will be difficult and the information process of Bitcoin or crypto to say is not enough compared to others where most advert is carried to the nearest minimum of the local personality,such as using town criers, flyers billboard and others medium in reaching and educating people the benefits and so on, understanding and engaging in Bitcoin investment or crypto is basically on friends engagement or personal search and this is if your technical and technology lover who gives attention to anything related to this by searching on social and following up.

[Tongley]

The adoption of Bitcoin in our country is increasing a lot compared to some other countries. Yes, if a person keeps all his money in Bitcoin to protect his money, then it will not be the right decision at the moment. Because the Bitcoin market is very volatile, you have to invest or keep the amount of money that you can afford to lose. It is never the right decision to keep such an amount of money that you can afford to lose or even if you lose it, it will have a huge impact on your financial situation and your life.
But yes, the purpose of creating Bitcoin was to decentralize all financial management and fight against inflation.

[Donneski]

I'm a Nigerian and from personal experience, I'll say that the reason many people are still sceptical when they hear cryptocurrency is because they were earlier introduced to crypto through scams, ponzi schemes and fake investment platforms. They lost money in their first crypto dealings and automatically concluded that Bitcoin or anything crypto is the problem.
This widely misconceptions though can still be changed if we give more attention in educating and sensitising Nigerians with little or no knowledge of crypto on the difference between Bitcoin and fraudulent schemes that hide behind "crypto". That's the way to go if we really want our people to know better and embrace the massive financial opportunities of the digital economy through crypto.

[Agbamoni]

Don't make it sound as if older people don't like innovation; anyone can embrace whatever they feel like is good; it's not about age. Once you have access to information, reading and grabbing whatever information you need from it is all that matters.

Some young people still consider crypto to be a scam, while we have a few older people who are into it. It's a matter of how they look at the information in front of them and where they get it from that determines and sharpens their mind how they look at the information.

In addition to this. Most older people are aware and well enlightened on cryptocurrency but choose not to participate in it. Since they have ongoing investment and establishment that requires absolute focus. It is a thing of choice not must. A lot of youth are having this conclusion that the older people are not into bitcoin because they lack the knowledge but that's wrong. That mindset need to start changing.

[DPHOR]

It's my belief that the older generation of people especially in developing countries like Nigeria are still struggling to come to terms with the revolution that has taken place in the financial system where an individual will hold Custody of their money without the need of a Bank. Hence the constant misunderstanding of what crypto currency like Bitcoin really entails, anytime you see anyone talking evil crypto just know that such person is still struggling to come to the change that has taken place over time in the financial sector

I have to underline that your statement based on Nigeria is not that developed, you can use a statement like "Under-develop" because if is in a developed countries there are things we are finding difficulties over here that wouldn't be that affecting them.
Of course we don't have to blame anyone on their personal decision on when to invest on bitcoin and not when to invest because they haven't be that truly been convinced about the entire crypto space as they believe that anything is still possible and likely to happened at any given time.

[Cityhunter34]

I'm a Nigerian and from personal experience, I'll say that the reason many people are still sceptical when they hear cryptocurrency is because they were earlier introduced to crypto through scams, ponzi schemes and fake investment platforms. They lost money in their first crypto dealings and automatically concluded that Bitcoin or anything crypto is the problem.
This widely misconceptions though can still be changed if we give more attention in educating and sensitising Nigerians with little or no knowledge of crypto on the difference between Bitcoin and fraudulent schemes that hide behind "crypto". That's the way to go if we really want our people to know better and embrace the massive financial opportunities of the digital economy through crypto.

Exactly, that's the real truth about it, because when an investor starts with the wrong investment and ends up being scammed, it definitely be difficult for that person to believe that there are real investments. Even till now there are many ponzi schemes going on out there, which they have left many people with a lot of losses. So it will very hard for you to convince someone that has been in that situation to try another investment.

So I would say that bad experience is actually the reason why many people are still being skeptical, because they always have this feeling that they might get scammed at the end of the day.

[SatoPrincess]

I feel like time don reach when we go stop to dey worry about what wetin the older generation think about bitcoin. Make we carry that energy focus for how we go fit create safe spaces for the young people to learn about bitcoin and cryptocurrency. All this many local exchanges way full Nigeria, just imagine say some of these exchanges decide to give back to the people by investing for crypto education, e go really go far.