Topic: What's preventing bitcoin from worldwide adoption? - page 10. (Read 6022 times)

The root cause I think is still the government, the bank or the mainstream media are all under the control of the government so once the government doesn't like bitcoin, they won't dare to speak well of bitcoin.
Social networks and the internet are already very popular. Now if the government doesn't accept bitcoin, the only way is to hope that people will search and read the conflicting information and realize whether bitcoin is really good or bad. When get access to the truth, people will realize if bitcoin is really what the government is saying.

Well you have to realize people or more less the majority of the world population have used the current money system for a long time. Yet many people do not have any idea of how the money system works. More less this means it will probably not happen for the majority of the population to learn and understand more about a new money system at all.

It will be a few generations before Bitcoin or more less a new money system to happen.

All of these points that you raise are certainly far and part of the reason why the world hasn’t completely adopted bitcoin yet, but I think the main reason is simply time. It’s going to take a lot of time for people to learn about bitcoin and how it works, for governments to place rules around it, as well for it to mature in and of itself in to a faster/cheaper/more efficient type of money system.

Unless bitcoin will not be fully regulated, we can't expect for faster bitcoin adoption. I think it relies in the hands of the government the possible bitcoin future adoption. However, if by chance the government will change its perception about bitcoin, i guess everything else will follow. If the government demands for bitcoin adoption, all the barriers will definitely vanished. Because as clear as a crystal ball, the government can control the people's perception through social media, and everything is possible once the government demands it to happen.

I think offering discounts by using bitcoin is a way better option than to only accept payments in bitcoin, and the reason is simple, the purpose of any business whether it is big or small is to sell what they offer, by limiting yourself to only one currency you are bound to be relegated by a business that offers a product of similar quality but which accepts payments in several currencies.

However offering discounts when paying with bitcoin is a good idea, as this will make people to use bitcoin to buy what they want, and this will help bitcoin as well as right now it is mostly seen as a speculative asset when we know its main purpose is to be a form of money.

The media is very much likely influential on people's decision in adopting and investing in crypto. The could either give it a very bad image that would leave a negative impact on the minds of the populace. And yes, the government does not want to lose its hold over the finances of the nation. Control the flow of money in people's hands, control the people. That's what they want.

Media may be influential on people's decision of adopting and investing in crypto but the fact is that governments do not want that bitcoin and crypto is used by everyone.
If this happens they will lose control over the financial systems and the people in the government will never want this to happen.

banks and governments control the media and pay for the media to continue to spread fear about the dangers of investing in crypto and they even try to impose high taxes on crypto users. if this continues only time can help so that BTC adoption can happen because what you say is true, nowadays people are already looking for income from online and BTC is the best and wisest choice right now.

Also let's add the lack of proper knowledge aside from ignorance and fear of the media for preventing bitcoin from worldwide adoption. Well we don't really know the real reason why there still a huge hindrance for a worldwide adoption of bitcoin because each country and government has their own reason why they don't want to accept bitcoin. But what's the good thing about it is that the people accepting bitcoin as a whole without a proper recognition of the estate.

For me, the only thing that prevents the adoption of BTC worldwide is the ignorance and fear that the media, governments and banks instill, just by saying that BTC is an asset that is very volatile and has no support. that they do not recommend because you know enough so that they do not do it.

Normally the masses discover the good things after the boom is over and they want to enter when it is too late, this is classic, the best thing is that everyone tries to educate themselves, I think that now the rhythm of life is changing, because people are more on the internet and they are looking for more jobs online and the BTC option appears, I think that there has been more demand in the market.

you might want to try travelling some time.
in africa. they have dropped the government FIAT and mainly use cell phone credit as their currency. yep even poor people have phones and internet.
countries like africa by-passed dial-up landlines and basic ADSL and went straight to 4g-5g cellular internet which is far faster than landline dialup/ADSL

africa do not like african national currency, their 3 main currencies are mpasa, euro or dollar. they are definitely eager to find new financial solutions. especially ones that do the opposite to their hyper inflation national currency.

affricans love the idea of bitcoin. but hate the reality of the limitations that have been imposed onto it since 2015 by the developers.
(yep i said it and ill emphasise it. africans liked bitcoin in 2010-15, but started seeing issues with it after 2015 once the developer capitalists got involved and wanted to push out the "unbanked" portrayal of what bitcoin was made for)

i personally am british, i have a large hoard and self funded and self-sustained so my arguments about the unbanked and poor are not my own personal wishes. but wishes from the countries that have more population than US,UK, EURO combined. and yet its the US,uk, euro populations of developers and their sponsored corporations paying their salaries that are dictating the limitations of bitcoin so they can promote other networks/assets to get ROI on their "sponsor a dev campaign".

do you really think barry silbert((greyscale, aka blockstream) pumped over $XXm into the teams that developed the segwit offramp locks and the main LN devs, done so out of the kindness of the heart of wanting to make the bitcoin network grow.. nope. they wanted the locks and pegs so they can make other networks to offramp people off, so they can collect fee's/comission from these other network schemes
barry silbert didnt handout over $XXm for nothing. he wants ROI

..
as for your other paragraph
"Bitcoin isn't suppose to take people out of extreme poverty "
um.. you might want to find the white paper and use the "find" function in the browser and use the word "unbanked"
..
also.
because bitcoin is decided to assign itself to a dollar value. and then everyone convert that USD value to other fiat currencies using the silly forex, you start to see how other countries are less well off.

and you start to see how the fiat forex markets have decided to make an africans hours labour be treated as like 50cents .. you will find that.. on the balance of someones labour and how many loaves of bread, bags of rice he can buy locally.. (i mean basing 'value' of wealth on cost of living) if you took away the forex exchange rate and replaced it by a TRUE cost of living comparison. you will find that africa has more "wealth" than america.

yet the americans dominate
yep even in england.. our bitcoin exchange rates are not based on some completely separate market that has its own sentiment(reason for its own independant ). its actually just an arbitrage market order book following the USB market price.


yep lets take Us/China
it might look like on paper that US reigns supreme on GDP
but. if you took minimum wage units.. of both US and china.
and assigned that everyone got paid 1MWU. china would exceed by 5X
if you were to take chinas bread lof value and americas bread loaf value. and assigned that to peoples income to work out how many loaves of bread people can buy and how many total loaves the country has/needs based on common value.. again china would outpace america.

yet due to dirty number trickery, and cludgy maths. guess what it makes it look like america is supreme in every way becasue they de-base other currencies at forex level, to hide the true 'living value' wealth per country

China is fighting it because they want to have a complete control over their finances and economy, just like they want complete control over everything else in their nation. It's normal that nations like China would not like it, but what they are missing is that they could do a lot better in the long run.

If china used bitcoin as a weapon against the west they could have made a lot more money, make it a nationalized thing if you have to but not using it and completely banning it is a big problem. They could literally afford to build as many asic miners as they could, and mine majority of bitcoins and have a complete control, that would have given them so much power.

I think one of the things that will make Bitcoin more common worldwide is creators of goods and services offering them only through Bitcoin (or maybe with a discount incentive).

Here's one example:


If someone wants a design from him that person will have to pay with Bitcoin, making it a bit more common. If this is repeated all around the world, it will make Bitcoin being adopted worldwide.

near criminal sawtooth market making algo. bitcoin is essentially always falling, interupted by short spikes to render the appearnce of gains. I repeat bitcoin is always falling until you sell

If you are that someone who isnt that tech savy or not really that much interested to new ideas and innovation then most likely you would really be ending up on having bad impression towards bitcoin.

You wouldnt tend to get engage to it since you do see that it might be that complicated on dealing thats why you do pass or skip which is a sad thing.There are people who are really having that curiosity which do really leads

to research out even more and its impossible for someone not able to learn yet its not really that requiring technical skills for you to get involved and learn with it.

Personally I think that another reason is that simply many people are not really ready to be completely responsible for their own money and they are afraid of something like bitcoin.

After all a huge deal of money is stolen from credit and debit cards all over the world, and those people depend on the banks to save them and recover their money, but this is not possible with bitcoin, so since people do not know how to take care of their coins I think that we are bound to see a massive amount of money being stolen if bitcoin was adopted massively, and then once they lose their money this way those people will criticize bitcoin for its inability to reverse transactions, even if that is a feature and not a bug.

The technical aspects of your argument may or may not be a hinderance, but most people would never get to that point because of the world wide poverty that exists for almost every country outside of Westernized developed countries. The goal for poverty stricken citizens is not to adopt a new currency or to invest for future wealth. Their vision does not extend that far. They live each day trying to get enough resources to have enough to eat.

Bitcoin isn't suppose to take people out of extreme poverty nor would it matter if the extremely impoverished adopted crypto. There isn't a large amount of wealth controlled by these folks. World wide adoption really only includes the major players, US + EU and China.

Of course and you should use an exchange, but it doesn't have to be a centralized one. Use decentralized exchanges; there's no privacy invasion, no extraordinary fees, no KYC nonsense, no middlemen who own your money.

One with good reputation is Bisq.

So tell me, where else would you bitcoin for the very first time? In an ATM on a public street? From some stranger paying cash? If you are new, whether you like it or not, buying from an exchange is still the safest way because nowadays exchanges are pretty much idiot proof, so it's very hard to lose your funds if you have a little brain. But again, if you have any other extremely simply solution that someone who never managed cryptos can easily follow, I'd like to know it

Either the words 'Capitalist' and 'Socialist' have had their meanings changed, or we've strayed from that path to a place where those concepts are no longer recognisable in our present governance.  I tend to see most Western governments as 'Crony Capitalism', which is rather different from "proper" Capitalism.  But I take your point.  Disrupting money would indeed disrupt power, because money has always been a system of control.  People tend to argue that we can change the world through better education, or forcing the media to be more responsible and honest in how they report current affairs and world events, but ultimately it always comes back to money.  Those who have vast sums of money make strategic donations to buy influence and generally get what they want, even if it's to the detriment of everyone else.

For a while, I thought there was a small chance for Bitcoin to disrupt the vice-like stranglehold which corporate lobbying has upon the world.  Although it looks like the potential for genuine reform is somewhat diminished from what I had hoped for.  Not least because I suspect most people can't even see that potential.  That, and I don't think the world is ready yet.  People want to complain about stuff, but the vast majority of them won't actually do anything about it.  Because they'd have to un-learn many of the habits they've spent a lifetime reinforcing.  And those habits are built around a total reliance upon systems of control.