Topic: What's preventing bitcoin from worldwide adoption? - page 12. (Read 6012 times)

Only one reason prevent people from adopting bitcoin: lack of curiosity and interest from average citizens for it.

Bitcoin is accessible to anyone since they have a mobile or desktop device with internet connection. Consequently, there aren't excuses to avoid bitcoin.

There are challenges, risks and dangers in crypto environment, like everywhere else. People just need to be careful and take care themselves on this universe, like they do on the streets, on their jobs, at the bank and so on... Scammers, regulations, volatility, misleading informations are part of our daily life and traditional fiat system. Still, you don't see people stopping dealing with fiat for these reasons, so why would they avoid bitcoin for the same reasons?

Search my history, go ahead, I wonder where will that get you. Yeah, I've said that Bitcoin won't establish a global adoption, but there are reasons other than the block size, such as:

However, the block size is, indeed, another reason. Maybe increasing it a little bit won't harm, but it'll only blunt the scalability issue. It won't fix the problem entirely unless there's great percentage of decentralization sacrificed, which is why I propose second layer solutions. No need to start this debate, we all know how obnoxious you become when you talk to Lightning "fangirls".

Clearly their fault. He was willing to play with everyone, but they weren't eager to follow his rules.

Dude, you're definitely not alone. But, there's this thing you've probably misunderstood called "consensus". Support Bitcoin Cash if you want big blocks, no problem. That's the beauty of forks after all. But, please, leave this community alone as the overwhelming majority doesn't agree with you. Dictating does not work in these systems.

the same idiots.. doomad oeleo blackhatcoiner. .. boring
all they want to do is say bitcoin is broke, too complicated, restricted, overreached by government. blah blah blah

all so that they can say their altnet is friendly, inviting and useful, sociable, blah blah blah..
yes i dont play with altnetters. and yes i do not fear calling out their crap and their propaganda

you may not like me. but i dont care. i am not trying to be your buddy.
i do not want to be in your group.
me being anti-social to your group is more about your groups motive. not my personality

i know you want some social hug of a certain group i know you want to recruit more people into your cult. i know you care more about collecting people up into a cultish altnet and never letting them escape. but thats your problem.

i already knew for years now you want to play the gold standard.. offer people IOU's with promises they can exit the IOU back to gold. ..but then make it too expensive to get the gold back and make it unattractive to use gold. its not an original idea you altnetters are playing

other people want BITCOIN to scale and grow.. not your altnet
so you play your little social games with your chums and happily hug and kiss them in your blissful ignorance.

meanwhile others will want to talk about BITCOIN adoption
yes go take your dozen altnet centric topics. to the altcoin category. while the rest of us where there are thousands of topics about BITCOIN continue talking about BITCOIN

you think only i want bitcoin to scale.. you are wrong i am not alone. i just dont fear your silly comments. i do not fear calling you out on your adverts

..
your the type of person that would happily kill someone if it benefitted you. and if someone else then tried to stop you or punched and handcuffed you for your actions. you would cry out that they are a socialpath for calling you out and trying to stop you. not even acknowledging that its your actions they are trying to stop because your the one doing more harm to the community

Exactly.  And for some reason you're proud of your complete and total disregard of the process others choose to follow.  You don't even see how much your approach to this is holding you back and isolating you.  Despite how many times we've spelled it out for you.  But while you're just ranting from your soapbox and screaming into the void while no one listens to you, everyone else is actually working and being productive together.  

I'd bet "Doesn't play well with others" probably appeared on your old school reports a few times when you were a kid.  And you're clearly no better now.  "Collaborate" isn't in your vocabulary.  You think you can be part of a group whilst at the same time believing you can completely ignore the thoughts and opinions of every other person in that group.  Because only your thoughts matter.

You will always get left out.  Every time.  And you only have yourself to blame.  But you'll continue to lash out at others because you've convinced yourself it's their fault for not recognising your genius.

---

This rings true.  People are slow to change unless necessity compels them to.  The path of least resistance is to keep following old habits.  And those old habits have always centred around the conventional wisdom that you can trust banks to look after your money.  Yet, even when the global financial crisis gives the world undeniable evidence that they can't be trusted, people keep doing it anyway.  Because it's easier than taking personal responsibility and changing the way they do things.

exchanges offering swaps for FIAT have always had AML/KYC
their business model has not changed or been hindered or altered at all. they have already had compliance officers and data mining analysts/algorithms from day one even before any crypto laws came into play

whats not said or thought about is years ago, hobbyists(no professional experience being an exchange prior) tried running 'boiler-room' scams. (black market exchanges) where they pretended(non-sense thought process) because part of a USD-BTC exchange involved BTC it absolved them of their fiat obligations/responsibilities. and so they didnt KYC thinking they were immune.
those silly exchanges either got shutdown or went legit, not due to any crypto laws. but because governments chased them for their fiat handling, using fiat laws set up decades ago

in 2014-2017 i seen alot of 'localbitcoin' operators either stop operating or start asking for KYC.. not due to any crypto laws but because the fiat laws they were ignoring were suddenly hitting them

I believe this is the main reason also for me why Bitcoin is having difficulty for the world to adopt.
Especially in government, which there are some countries that are very strict when it comes to cryptocurrency, you will notice it in some countries, especially U.S, that's why also most of the cryptocurrency exchanges now are very strict, most of exchanges now got KYC verifications/AML verifications.

now i got my rant over and done with. here is my experience from speaking to loads of people around the world and their reasons.

1. fee
its more then their hourly salary, they prefer to us m-pesa and other cheap/free payment transfers

2.chicken and egg
consumers have no local merchants to buy things so see no use-case.. merchants have no consumers asking for it so they see no use-case

3.altcoins are their prefered go to crypto because the onramp (cost to obtain(fee) and cost per unit of medium of exchange seems reachable)

4.hardly any care/talk about government involvement because they all know they can trade offline(face to face) and because they know government cant control bitcoin itself. only the exchanges.
yes people in india/africa(the two biggest population bases) dont care about the government law. people in india/africa still use CRYPTO.. its legal there, infact the CRYPTO market in india/africa is growing super fast.. but the bitcoin growth within that crypto is not growing as fast/same scale.
their main gripe is not the government. but instead that bitcoin fee's price them out of using it compared to using altcoins.

yep ill emphasise this.
governments have not banned crypto or bitcoin in the two largest population zones.. so that is not the reason those populations are avoiding bitcoin. the big reason people avoid bitcoin is because they prefer to use altcoins/altnets due to the fee

5. average joe does not see or read or care about the government stuff. yes MSB(money service businesses/providers) EG exchanges do care somewhat, but they see the crypto laws are the same as the standard fiat laws for MSB's so they dont see much of a problem because they know what to do already and are already setup to AML/KYC their customer because they are already providing their customers with fiat services as part of the exchange so are already doing it

as for mining:
6. heat and asic unit cost
its too hot in places like africa and india (too biggest world population bases) but they dont mine bitcoin because of the average climate temperature is not good for asics. and the cost of an asic unit is not within their wealth to spend to 'hobby mine' bitcoin.
and the electricity reliance is a factor. not all towns/villages have reliable continual electric

Government is the root cause, they never accept something they cannot control. Fiat will remain their favorite tool and will do whatever it takes to stop the growth of bitcoin, if they cannot stop bitcoin their power will be lost.

Once the government accepts bitcoin, I think other problems will be solved soon. If the government recognizes bitcoin and encourages people to use BTC, people will be more interested in it, fraudulent acts will be strictly controlled by the government and the bad news about bitcoin will be gone if the government accepts it.

"Adoption" is a broad term, because there are many potential uses, and Bitcoin might not be used for them for separate reasons. Merchants don't adopt it because there not a lot of demand from their customers, because there's no clear legal framework, because fees can get high at certain times. 10 minute confirmation time can also be pretty annoying, so Lightning Network is needed, but it's not officially released yet. Private citizens or organizations don't adopt it as a store of value because it's very unpredictable in short term. Also it's a purely speculative asset, and many investors aren't comfortable with such assets. Black markets don't adopt Bitcoin because it's traceable.

Your 1. Point is the only real reason in my opinion why governments will not make bitcoins a legal tender all around the world. Politicians are usually in office 3-5 years and maybe get reelected afterwards. During that time politicians rely heavily on the control of money supply. In good economic times the budget is usually balanced and the country spends the same it generates through taxes. But there is usually no real surplus because why would the government reduce debt levels, just to help out future governments? It's better for them to make some tax cuts or give reliefs to some groups and guarante their votes for the next ejection. In bad economic times the government relies of printing new money, issuing new debt to cover any shortfalls. With bitcoins as the new legal tender all that wouldn't be possible again. There would be the need for a government to act much more financial prudent and long term orientated. For the people it would be a good thing, just not for the politicians. That's why they are trying so hard to limit and regulate crypto currencies heavily.

It is more profitable for most country to regulate bitcoin and create a regulatory and tax framework for it. But it is possible that many countries will start to create crypto-zones, separate localities where bitcoin works as a means of payment.


Bitcoin is pseudo-anonymous, with scammers transactions monitored by special agencies and, if possible, pretsupniks. The last major case involved bitcoins stolen from the Bitfinex exchange.


Bitcoin is not a stablecoin, it has no task to always be consistently evaluated. Historically, it is always growing.


There is a huge amount of information on the Internet about how to properly dispose of bitcoin. The problem is not that people don't share information, the problem is that many people don't want to learn. They're just driven by the lust for profit. They don't care about the technology itself.

im imposing it?
do you even know the word impose
(hint: put a restriction in place).. sorry but i suggest relaxing the restrictions..
im not the one ACK/Nacking commits on bitcoin cores github
but when you look at those that do ACK/NACK and then you look at their idea's of what and who and how much bitcoin should be used for. you can easily see which way they lean

your chums want to impose the limits and impose restrictions that people should not use bitcoin for daily use. yep you dont want people buying coffee on bitcoin(basically $3 amounts)
yep you dont want anyone in under-privileged countries where their entire days wages should not be used on bitcoin..

heres you saying that bitcoin cant go mainstream/global.. i excluded the part where you then advertised your altnet as the solution.. but by you just talking in a topic its obvious your altnet advert wil pop up somewhere in your posts
i could quote many many more. and even quote your chums before you saying the same scripts you say word-for-word. but its easier for anyone that is interested to just look at your forum profile post history and do a simple search..

sorry but its your chums that are imposing, and not wanting to scale BITCOIN any time soon. all so that your chums can advertise some other network that people should move to first.

yep you love the idea of getting people to move to other networks, you and your chums very narrative every time is to not change bitcoin for the benefit of extending bitcoin use. but change it only to extend feature useful for other networks. and any changes that people do want on the bitcoin network. your narrative is to tell people to fork it off and start a new network and convince people to use it.

your narrative is not original and its not even your original mindset. you are just copying your chums narrative.
..
funny part is there are THOUSANDS of topics of people asking about "when will bitcoin go mainstream" and "how to scale BITCOIN" but only a dozen topics specifically about your altnet.
(even though you try to inject multiple advertisement attempts into many bitcoin scaling conversations)
..
you do not want value transactions of ~$3 even if it was one million people doing it once a week
you think anything of the price of a pizza($15) or a coffee($3) is not worthy of bitcoins utility.

yep thats YOU saying under-privileged countries daily wage for 10 hours labour is not good enough to be permitted in bitcoin.

but before finding some old script to recite..
take this one single thought.. and take some time to process it independently of what you think your chums want you to say..

what you see as being a single coffee.. 2 billion people in the world see as their daily/weekly salary
just take a long and hard thought about what you are proposing when you want to restrict usage of bitcoin
country             population      10 hours at $0.30c or less/hour
niger                24.5m            30c*10=$3
Mozambique     31.5m            28c*10=$2.80
kenya               53.7m           28c*10=$2.80
india                1.38BILLION  28c*10=$2.80
ghana              31m              23c*10=$2.30
uganda            45.7m            20c*10=$2.00
Bangladesh      164m             9c*10=$0.90
tanzania          59.7m             9c*10=$0.90

i didnt list them all. but maybe this will help you snap out of your script of thinking your impositions that restrict india's 1.3billion peoples daily use is something worth atleast thinking about

The aspect of government, i will say each country government have their method of governance, so since some countries had legalize the adoption of cryptocurrency that means it's base on the country principle in cryptocurrency and especially bitcoin what is really their views about bitcoin.

Some government seems cryptocurrency as avenue of extorting government financial project or budget, so in same vain, some people saw it as a means of involving into secret money laundering, which is embezzlement of fund's, and some government elements, the same time saw it like currency that can't be control by their sector or arms that can also disvalue fiat currencies.

so i think that should be one of the factor's that makes some country government intensively castigating and downgrading the potentiality of cryptocurrencies and especially bitcoin.

As long as the government will not fully regulate the use of bitcoin, its worldwide adoption will always be impossible. The government controls the people, so whatever its rules and laws, people should always comply with it.

However, bitcoin is also hard to adopt because it also lacks the opportunities to spend it. Its hard to find physical stores that accept bitcoin, and so people always prefer to use fiat. And also, because of the fear and confusion of the people due to its price volatility, bitcoin makes it too hard to adopt.

People want to control it, basically, one thing that supports this prevention is the strong desire to influence others.
The government plays a very delicate role in this regard.

You know, wealthy and powerful people have been ruling and exploiting this world from the very beginning, this is the eternal policy of the world. Those in power now will always want to control the weak. Bitcoin is something that has given people freedom from slavery, everyone can benefit equally here, and they can make themselves financially free.

But it poses a serious threat to the government and the conventional banking system. And you know they both survive based on the current banking system.

So it is understandable that people at the government level would not want Bitcoin to be adopted easily. They will always want to establish authority

A mix of bad news about bitcoin and those scams that are happening in the altcoins kingdom as well. When people read news about "hack" in a defi or NFT. They'll include bitcoin as the major part of it so instead of going through with the news and read the entire information that it's a project hacked that's not related to bitcoin, people who don't understand cryptocurrencies will get to think that it's bitcoin that was hacked or at least part of it and that becomes a major concern and worry for them.

A country without taxation is a weak country, tax is one of the major players running a country, if there is no tax then where would they get their funds to make roads and other facilities needed by the people? In some cases there are countries that have oil and other recourses but still the country has taxes. An example that country has a failure government is Somalia, there are warlords in there and if you tax them it would be your end. Also the money to support their army is from illegal activities such as mining, in some cases drugs and again it destroys the core of a country-it's people.


Even if Bitcoin never existed, still these fraudulent activities are present. There are so many heist that happened and they have managed to get away with it. So it doesn't really matter whether crypto is available or not.

Not that truly and obstacle but you do really get some point though which is somewhat already anticipated that government wont really be just doing nothing without making their own.

Plus having that bad publicity of media towards crypto then it would really be adding up more on the possible slowdown of adoption/recognition but for people who are really making out
some in depth review and research would be the ones will able to see the beauty of decentralized crypto compared into these coins been made by government.
Yes, it could have some advantage in terms of being secured and monitored but we know on what its heavy cons.

There is also one more reason behind this, blockchain is open and using the same technology every government is now trying to improve their own banking systems, trying mint their coins and what not. I think it’s disadvantage being the open source for blockchain and in the long run government correctly saw this opportunity to have their own assets but obviously centralised one.

The only upper hand they got is naming it as crypto currency and added the security policies as it’s government regulated.

This is obstacle for the main stream adoption of existing crypto. People still trust government and not public volatile unregulated coins.

I think the main thing preventing adoption is that people are set in their ways and Bitcoin is new and scary.  A lot of people don't want the responsibility of having to safeguard their own coins, or even learn about the process.  They've heard horror stories about keeping funds on an exchange and don't trust themselves to store it themselves, so what are they to do?  Many people like this would likely only get exposure to Bitcoin through things like ETFs in their retirement accounts.  Over the years I've given friends quite a bit of BTC and it almost never fails that they lose their keys or some other thing that caused them to lose their Bitcoin.  The average person is definitely not ready to have their finances in their own hands...  There are still folks paying financial advisors to set their money in index funds...  People have a long way to go when it comes to financial knowledge and I don't see schools doing their part.  For this reason, I think it would realistically take generations before everyone got on board with cryptocurrencies.