Why People in General Don't Trust Cryptocurrency

Welcome back to another video. My name is Ken. I'm really glad that you're here today. I want to tell you why people in general don't really trust cryptocurrency. If you're one of those people right now watching, I want you to pay close attention to this video.

You know, I was talking to someone a couple of weeks ago, actually someone in my family and they were telling me how they just don't trust cryptocurrency. And so I wanted to kind of talk to them about it and I asked them, well, are you open to learning about crypto? Are you open to learning about, you know, what it is and how it can affect humanity? And they're like, no, not really. And I said, oh, okay, well then there's really no point in me explaining to you what it is if you're not really open to it. And I think that's one of the major roadblocks that people run into when they hear the word cryptocurrency or bitcoin or Ethereum.

And they just don't trust it. They just naturally do not trust it. And the reason actually dates back into human psychology. The reason why people don't really trust it is because they don't know anything about it. You know, you're not going to trust anything that you don't know about. So if you just get into a new relationship, you know you're not going to really trust that person until you really get to know them better. And so crypto is kind of the same way.

It's kind of the same thing with bitcoin where you are really new to it and people who are, you know, outside of the industry, they have no idea what it is. And so naturally they're a bit skeptical. They're like, ah, I think I’ve heard of it, but I don't really know the ins and outs of what it is and that that's the main reason behind a lot of the skepticism.

What needs to happen is for people to understand that, hey, bitcoin is here, cryptocurrency is here. And if they want to learn about it, then they just need to research it. They need to find videos like this, talking about cryptocurrency and bitcoin openly so that they can really get what it is. So I think that's one of the major things.

And also, people have the mindset that it's a technical thing. You know, I made a video about this previously, discussing how it's something only for, you know, computer engineers, computer scientists who are really smart, really intelligent, who can actually understand this protocol and this technology when in fact bitcoin is a currency built for the people. You know, Fiat currency is used by the governments whereas Bitcoin is a peer to peer network of rules and rock-solid security.

You actually own your money, you own your crypto if you own the keys to it. So I think that's one of the major roadblocks is that people are just unaware of what it is. And so we as a community, we as a, as an industry need to get together and figure out a way to educate people and help them know, like, hey, this thing is here to stay.

And one of the things that I was thinking about recently was that, um, actually I was reading the Internet of money. If you guys haven't read that book, and basically the Internet of money talks about how different innovations over the past number of years, they haven't been accepted right away. Like for instance, the automobile that was not accepted when it first was released. In fact, it was a really ugly version of a car. It would break down all the time.

People would hit other people. And so people were like, you know what? This is crazy. Why would I invest in this metal death machine? You know, it's crazy. Why would I get one of these? And now you see people driving them every single day, every place you go. And the Internet, same thing with that. When that first came out back in the 90s, people were like, oh, that's never going to catch on. You know, now this is a weird technology. We don't need this. And now here in 2019 we're using it every single day. We can't live without the Internet, right? So there's these different innovations happening.

Even the airplane as well. You know, people ridiculed the airplane thing, and that's a crazy idea. That will never work. Well, we're riding in airplanes every single day. So guys, if you see the trend, and if you notice like, hey, this is a new thing.

This is a new technology, but right now it's not completely mass adopted, but it's going to be in the future. So we need to capitalize on it right now. Right now, we are the pioneers in the space, and we need to really get in the trenches and help as many people as we can understand the power of this amazing technology. So thank you guys for watching this video. I will catch you in the next one. Take care.