Why do people hate using bitcoin

[Erik4150]

The cryptocurrency market is volatile but some countries have banned the use of bitcoin because they think it's going to make flat currency obsolete, which is wrong.
I think misinformation is the major reason why people don't like using bitcoin.

 

[ahmedo24]

It is a gradual process for people to know the relevance of bitcoin as a commodity not a national Currency , it can only makes transactions much easier not over riding the individual country Currency.

 

[Gilead]

This could be as a result of taste ,i.e preference...several people prefer different means of payment than most..it could also be that some people don't really have a good understanding of Bitcoin

 

[Kinglegend01]

I think sometimes when you want to pay for goods and services and you choose to use bitcoin as payment method ,yet its been declined by the seller
I still don't know some hate using bitcoin but prefer flat transactions

Wow this is a first for me, I dont really know that people hate bitcoin and dont want to use it as a means of payment. I think if people are been against the usage of bitcoin as a transaction currency will be because of the fear of not knowing much about it or in other sense crypto-illeteracy.

 

[Ralphjoe]

People mostly hates what they don't understand, Bitcoin is the biggest Cryptocurrency but people still reject it's simply because it had not been endorsed by the various country's government. Once Bitcoin is accepted by the government then there are not going to be any rejection on the coins again as a means of payment

 

[Ltherman]

Though bitcoin has been around for a long time now, mode of transaction like payment for goods and services will be quite new to some persons. In no time either stable currency or crypto will be major players in the payment space.

 

[Sake]

Personally i don't want to be charged almost half the amount that im going to send for transfer fee. It's too much for me specially if you just want to transfer below 5 dollars worth of Bitcoin. Plus it takes a while to recieve unlike other coins.

 

[chicnthin]

I think it's because many people still have little knowledge about crypto currency.

I, for one, didn't have any interest with it because I don't know how it works. Luckily, I'm gaining knowledge and continuing to learn about it through forum sites.

 

[Donkiz]

Some people don't know about the transactional value of bitcoin, while those that are afraid of losing money due to the volatile nature of bitcoin. Also some traders don't have bitcoin wallet and therefore don't know how to either store or convert the bitcoin to cash, hence the decline.

 

[Goodday]

I think sometimes when you want to pay for goods and services and you choose to use bitcoin as payment method ,yet its been declined by the seller
I still don't know some hate using bitcoin but prefer flat transactions

Many people still have the fear in fluctuations of bitcoin price and because of that, they fear they may make an unrecoverable loss when they accept payment in bitcoin which may result in termination of their businesses.

 

[MastetG]

Seriously I think what is happening is just pure ignorance

Post automatically merged: Dec 30, 2020

Seriously I think what is happening is just pure ignorance
they don't hate bitcoin,they are just looking out for their economy. Bitcoin is not yet secure And hackers are still able to hack some wallet the government will not approve it until they are sure that bitcoin is totally secure and unhackable

 

[Oscar]

Although the cryptocurrency market has seen in recent years a very rapid growth, some people still do not trust it and hate it because they believe firstly that cryptocurrencies are created by unknown people and so therefore are not credible. Some people even believe that bitcoin is used for illegal activities and the likes hence the hate on cryptocurrencies.

 

[Ehizzy1]

Many people still have the fear in fluctuations of bitcoin price and because of that, they fear they may make an unrecoverable loss when they accept payment in bitcoin which may result in termination of their businesses.

Well if they can monitor the flunctuation then they won't make loss , like for instance if they collect payment using bitcoin , i think they could quickly convert it to cash before the high fluctuation

Post automatically merged: Dec 31, 2020

Wow this is a first for me, I dont really know that people hate bitcoin and dont want to use it as a means of payment. I think if people are been against the usage of bitcoin as a transaction currency will be because of the fear of not knowing much about it or in other sense crypto-illeteracy.

I think its because of the fear of not knowing about it , since most people who are not really into bitcoin and crypto currency usually pay attention to bad rumors about bitcoin , maybe that is why the hate it