5 Reasons More People Aren’t Buying Bitcoin
More people aren’t buying Bitcoin for a few simple reasons:
- Not understanding what it is.
- Fear.
- They think they’re too late (they’re not).
- Beleiving everything they read in mainstream media.
- Thinking that it’s a bubble.
The people who are in BTC right now are the early adopters, the risk takers, and the true believers. At the end of the day, those people are just a minuscule minority in our population.
I don’t think everyone should get into Bitcoin. I think people who are willing to educate themselves about the market, develop a trading strategy, and stick by it strictly- should consider it as a valuable financial tool.
I think that anyone who isn’t happy with the fact that the world is run by financial institutions manipulating governments should consider it as a tool to inspire drastic change.
However, bitcoins, and the other crypto currencies, are not backed by an economy and therefore are more like a commodity than a currency. That’s the reason the value of bitcoin has been able to increase and decrease in value so fast.
So people primarily don’t buy bitcoins because they consider it too risky. Then they probably also don’t buy bitcoins because they have heard that it is linked to all sorts of online crimes: illegal drugs, guns for hire, ransomware … and this makes a lot of people, let’s say uneasy, about the trust you can have in it.
I can’t read in the mind of everyone. But I am a big fan of Bitcoin and I am very vocal about it. So I can tell you only about the people I’ve talked with about it.
Some people think it’s only for crooks, drug dealers, and terrorists. (I am proud to be all of the above)
Some people think it’s in a bubble and about to drop to zero.
But I think the main reason is most people are not even aware of the very deep flaws in fiat currencies. So they wouldn’t care for a fix to a problem they don’t know even exists
Also until 2017, Bitcoin was not talked about at all except in very niche specialized areas. That all changed when the media started to talk about it non-stop. Suddenly, everyone learbed about it and everyone wanted to get in without really understanding what it really is. That’s what caused the 2017 roller coaster ride.
Think about it. Why did the media stay completely silent about Bitcoin until 2017?
Why did they suddenly start to talk about it non-stop?
Bitcoin is a powerfull tool against the powers that shouldn’t be and the status quo. I think they will fight tooth and nail against a wider adoption of Bitcoin. I think you should brace for more roller coaster rides in the future.
