This is because governments all around the globe are keeping a close eye on Bitcoin's progress. El Salvador, for example, has made it their official currency. However, major economies such as the US refuse to accept it as legal cash.
Here's Why:
Governments all around the globe are watching Bitcoin's progress with caution since it has the potential to upend the existing financial system and weaken its position in it.
Bitcoin poses three problems to government power in its current form: it cannot be controlled, it is used by criminals, and it can assist citizens to avoid capital limits.
Bitcoin will continue to be distrusted by conventional authorities until its ecosystem matures.
Source: https://www.investopedia.com/articles/forex/042015/why-governments-are-afraid-bitcoin.asp
Topic: What's preventing bitcoin from worldwide adoption? - page 6. (Read 6017 times)
Real adoption of bitcoin certainly requires a long process that requires large capital, only a strong financial company that can adopt Bitcoin,
LOL, you are completely wrong about adoption. You and I can also adopt bitcoin for your small business even though you and I don't have much capital. In general, to adopt bitcoin as a means of payment in your business you don't need any capital, but you just need to convince yourself to accept bitcoin as a means of payment for that business.another thing that makes many companies doubt is that there are still many countries that are banned bitcoin so they are worried if they make the project then after completion but cannot be used because of the banned from the country.
The problem is government regulations regarding bitcoin where they have not legalized bitcoin as a means of payment so that bitcoin adoption in various countries has not increased much. What is certain is that adoption is free, you just need to have an interest and maybe friendly regulations. 
The list you have are true and I think one of the reasons too why it was prevented from world wide adoption is that not all people are educated on what cryptocurrencies are and the frauds and scammers are the one who reached them first that's why most of the people get scammed before they understand how Bitcoin really works. Plus it needs device and internet to use.
The main reason that is preventing mass adoption is the fear of governments. Bitcoin being deprived of control governments won’t be able to track the transactions and the profits made.
Yes, in part the culprits are the governments, but the main culprits are the same people of the towns who get carried away by what their rulers say, I do not know if it is the culture of each country or of each person in a developed country or no, but particularly one must learn to be a little more dissuasive, that is, not to believe everything that the banks and governments want, they will always worry about obtaining their interests in a liquid way regardless of going over the needs of others .
I am one of those who think that the biggest problem for non-adoption for BITCOIN is the acceptance and ignorance and resistance to saying no to bitcoin from the same people.
I agree that there are lots of ignorant people out there and people should think for themselves. Not too long ago, I also was very ignorant. I wouldn't put much blame on ignorant people. The government of any country would want to have as much control as it could muster.
People are afraid and hesitant to change and stray away from what is familiar and the government doesn't make it any easier.
What happens is that most of the media when they talk about Bitcoin they do it in a derogatory way and the economists who are in the big media outlets, like CNN and some others who are quite relevant in the lives of people with say that BTC is a very high risk investment and that it has a lot of volatility that they do not recommend investing there, so that is enough for people to say that they will not invest because they do not want to lose their money, and currently there are many people who think that way In the same way, just as there are people who, when they see bad news about BTC, sell whatever, there are people who allow themselves to be influenced by the media, partly if it is due to ignorance, because most people do not like to read or investigate and that When it comes to money, human culture in general is very diverse.
In my opinion the biggest factor preventing a global adoption of Bitcoins are politicians. They are the ones who actually loosen or tighten regulation, and can make a real difference by having a second legal currency accepted in the whole country.
It's politicians or you may say the government, no matter which politician is in power they have same statement about bitcoin. When politicians are not in power they are pro crypto but when in government they are against it. Its very much clear now that the rivalry is because government have zero control over bitcoin.
In my opinion the biggest factor preventing a global adoption of Bitcoins are politicians. They are the ones who actually loosen or tighten regulation, and can make a real difference by having a second legal currency accepted in the whole country. The first step would be to remove the uncertainty in some countries. As long as there are no clear laws that protect investors from losing their coins, many will hold back money that they would invest otherwise in cryptos. Scammers are not such a big issue because they have been always around. In the past they focused more on scams using fiat money, or Internet gift cards. The success of crypto currencies is what brought Scammers into the crypto world.
World wide adoption of bitcoin for now is on the slower phase for different political and real-time reasons. With time this will change. However here and there more and more adoption and acceptance of bitcoin is happening that paves path for the future worldwide adoption. One such incident of recent days is the Argentina’s largest and second-largest private banks, Banco Galicia and Brubank allowing its customers to buy bitcoin and three other cryptocurrencies. This includes Bitcoin, Ethereum, USDC and XRP.
The bank have taken this decision after a poll that showed 60% of customers requested more access of cryptocurrency trades. It has got good adoption rate with 21% of people using cryptocurrencies by 2021. This move from the bank would help Argentina people to stay away from the inflation. Last month Sorradino, a town in Argentina purchased mining rigs and start mining operation and accumulate bitcoin to stay away from inflation.
The bank have taken this decision after a poll that showed 60% of customers requested more access of cryptocurrency trades. It has got good adoption rate with 21% of people using cryptocurrencies by 2021. This move from the bank would help Argentina people to stay away from the inflation. Last month Sorradino, a town in Argentina purchased mining rigs and start mining operation and accumulate bitcoin to stay away from inflation.
Couldn't agree more with you, mate. Slowly but surely, Bitcoin's adoption worldwide will increase as people try to find alternative ways to escape from inflation. The more worthless Fiat becomes, the more people will be inclined to Bitcoin. Governments are already seeing the benefits of holding Bitcoin in the long term, especially when it's designed with deflation in mind. If this keeps up, we might see the whole world using Bitcoin at a large scale (hyperbitcoinization). As long as decentralization wins in the long run, there will be nothing to worry about. Just my opinion
Real adoption of bitcoin certainly requires a long process that requires large capital, only a strong financial company that can adopt Bitcoin, another thing that makes many companies doubt is that there are still many countries that are banned bitcoin so they are worried if they make the project then after completion but cannot be used because of the banned from the country.
From what the op mentioned, I agree and if I may add, the income level of each country is different, not to mention there are many poor countries.
decentralized nature of bitcoin, difficult to control by government so they don't legalize it and therefore Bitcoin is not accepted worldwide
decentralized nature of bitcoin, difficult to control by government so they don't legalize it and therefore Bitcoin is not accepted worldwide
Exactly. Low level income is one of the main reasons why Bitcoin still hasn't been adopted massively by people worldwide. If you are poor, then how would you get access to Bitcoin in the first place? Third-world countries (with the exception of El Salvador) are stuck with Fiat because of limited access to the Internet and electronic devices. As long as Bitcoin remains an Internet currency, we won't be going nowhere in terms of mainstream adoption. Who knows if this no longer becomes an issue some point in the future? Just my thoughts
As far as I know, Internet become a lot cheaper than ten years ago. The reason why bitcoin is not worldwide adopted is that a lot of people don't understand what is bitcoin, how to use it, and even their knowledge about technology is pretty low. People who love the traditional way will stick to the traditional way but right now many young people understand the technology and know about Bitcoin, only a matter of time before the new generation will adopt Bitcoin on a large scale.
World wide adoption of bitcoin for now is on the slower phase for different political and real-time reasons. With time this will change. However here and there more and more adoption and acceptance of bitcoin is happening that paves path for the future worldwide adoption. One such incident of recent days is the Argentina’s largest and second-largest private banks, Banco Galicia and Brubank allowing its customers to buy bitcoin and three other cryptocurrencies. This includes Bitcoin, Ethereum, USDC and XRP.
The bank have taken this decision after a poll that showed 60% of customers requested more access of cryptocurrency trades. It has got good adoption rate with 21% of people using cryptocurrencies by 2021. This move from the bank would help Argentina people to stay away from the inflation. Last month Sorradino, a town in Argentina purchased mining rigs and start mining operation and accumulate bitcoin to stay away from inflation.
The bank have taken this decision after a poll that showed 60% of customers requested more access of cryptocurrency trades. It has got good adoption rate with 21% of people using cryptocurrencies by 2021. This move from the bank would help Argentina people to stay away from the inflation. Last month Sorradino, a town in Argentina purchased mining rigs and start mining operation and accumulate bitcoin to stay away from inflation.
In my opinion Bitcoin has not yet been adopted by everyone by the same governments, the fact that it can not be controlled or regulated would form chaos for them, so I have seen that in some countries they want to incorporate virtual currencies but in their own way, in a way that they can handle this and not lose control and that is the well-known CBDCs, I am not in favour of including this in countries, I'll always prefer Bitcoin, but I think that's why. Of course on the other hand in several places if they are implementing Btc as a legal currency, as in Honduras, the Salvador and there are more and more... maybe the idea of CBDCs will not end up convincing them and they think about Bitcoin, but I doubt it.
As far as I know, Internet become a lot cheaper than ten years ago. The reason why bitcoin is not worldwide adopted is that a lot of people don't understand what is bitcoin, how to use it, and even their knowledge about technology is pretty low. People who love the traditional way will stick to the traditional way but right now many young people understand the technology and know about Bitcoin, only a matter of time before the new generation will adopt Bitcoin on a large scale.
Exactly. What's limiting adoption of Bitcoin worldwide is lack of awareness. There are so many people who haven't heard about or even used Bitcoin at all. The Internet is becoming widely accessible these days, especially with the launch of satellites across the globe. As time goes by, we'll become more interconnected as technology becomes an integral part of our everyday lives. If there's still a lot of people who haven't heard about Bitcoin, how do you expect to live in a cashless society?
I think we need to increase our efforts as a community by helping spreading the word about Bitcoin worldwide. The more people get into Bitcoin, the faster we'll be heading towards a cashless society. Maybe the mass adoption of Bitcoin will help reduce price volatility in the future? Just my thoughts
From what the op mentioned, I agree and if I may add, the income level of each country is different, not to mention there are many poor countries.
decentralized nature of bitcoin, difficult to control by government so they don't legalize it and therefore Bitcoin is not accepted worldwide
decentralized nature of bitcoin, difficult to control by government so they don't legalize it and therefore Bitcoin is not accepted worldwide
Exactly. Low level income is one of the main reasons why Bitcoin still hasn't been adopted massively by people worldwide. If you are poor, then how would you get access to Bitcoin in the first place? Third-world countries (with the exception of El Salvador) are stuck with Fiat because of limited access to the Internet and electronic devices. As long as Bitcoin remains an Internet currency, we won't be going nowhere in terms of mainstream adoption. Who knows if this no longer becomes an issue some point in the future? Just my thoughts
As far as I know, Internet become a lot cheaper than ten years ago. The reason why bitcoin is not worldwide adopted is that a lot of people don't understand what is bitcoin, how to use it, and even their knowledge about technology is pretty low. People who love the traditional way will stick to the traditional way but right now many young people understand the technology and know about Bitcoin, only a matter of time before the new generation will adopt Bitcoin on a large scale.
From what the op mentioned, I agree and if I may add, the income level of each country is different, not to mention there are many poor countries.
decentralized nature of bitcoin, difficult to control by government so they don't legalize it and therefore Bitcoin is not accepted worldwide
decentralized nature of bitcoin, difficult to control by government so they don't legalize it and therefore Bitcoin is not accepted worldwide
Exactly. Low level income is one of the main reasons why Bitcoin still hasn't been adopted massively by people worldwide. If you are poor, then how would you get access to Bitcoin in the first place? Third-world countries (with the exception of El Salvador) are stuck with Fiat because of limited access to the Internet and electronic devices. As long as Bitcoin remains an Internet currency, we won't be going nowhere in terms of mainstream adoption. Who knows if this no longer becomes an issue some point in the future? Just my thoughts
The main reason that is preventing mass adoption is the fear of governments. Bitcoin being deprived of control governments won’t be able to track the transactions and the profits made.
Yes, in part the culprits are the governments, but the main culprits are the same people of the towns who get carried away by what their rulers say, I do not know if it is the culture of each country or of each person in a developed country or no, but particularly one must learn to be a little more dissuasive, that is, not to believe everything that the banks and governments want, they will always worry about obtaining their interests in a liquid way regardless of going over the needs of others .
I am one of those who think that the biggest problem for non-adoption for BITCOIN is the acceptance and ignorance and resistance to saying no to bitcoin from the same people.
I agree that there are lots of ignorant people out there and people should think for themselves. Not too long ago, I also was very ignorant. I wouldn't put much blame on ignorant people. The government of any country would want to have as much control as it could muster.
People are afraid and hesitant to change and stray away from what is familiar and the government doesn't make it any easier.
At the very least, a very important and noticeable reason is popularity. I think many people, having heard about bitcoin, start working with it.
there are many things that prevent bitcoin from being widely adopted by various groups in the world, it can't be separated from several factors.especially bitcoin getting so much criticism and opposition in various circles that this also causes the bitcoin adoption process to be uneven.let alone big businessmen firmly reject the process of adapting bitcoin so that it affects quite broadly for various groups but we are very confident that bitcoin adoption will start to grow in the next few years
To work with cryptocurrency, you need certain knowledge in this area. However, it is not enough just to learn how to work with cryptocurrency. You also need to be able to protect yourself from hackers and scammers, be able to avoid numerous mistakes that are often made by inexperienced and inattentive users. In addition, the cryptocurrency continues to develop very rapidly. Coins and tokens, according to the decision of the project team, often move to other platforms, other actions are performed, and you need to constantly monitor this and be aware of all changes, otherwise only useless numbers and symbols may remain from coins and tokens.
Many people are either too busy with other daily activities, or simply lazy. This explains why many are in no hurry to use cryptocurrency, despite its obvious advantages.
I agree with you that it is not that easy for regular people who have no idea about crypto or who are not tech savy to have problems saving their coins and put them in a secure place, but I believe that high level exchanges are not really that hard to work with. Like if they put their coins into Binance and Coinbase for example to start with and then gradually learn what to do later that would work.Many people are either too busy with other daily activities, or simply lazy. This explains why many are in no hurry to use cryptocurrency, despite its obvious advantages.
I am not saying that it is the ideal spot, you may find more secure stuff, namely hardware wallets like ledger nano for example but you do not have start with that right of the bat. Learning about how you should trust the process and not get panic and keep your coins for a very long term is the real thing people should be careful about.
The main reason that is preventing mass adoption is the fear of governments. Bitcoin being deprived of control governments won’t be able to track the transactions and the profits made.
Yes, in part the culprits are the governments, but the main culprits are the same people of the towns who get carried away by what their rulers say, I do not know if it is the culture of each country or of each person in a developed country or no, but particularly one must learn to be a little more dissuasive, that is, not to believe everything that the banks and governments want, they will always worry about obtaining their interests in a liquid way regardless of going over the needs of others .
I am one of those who think that the biggest problem for non-adoption for BITCOIN is the acceptance and ignorance and resistance to saying no to bitcoin from the same people.
I think the biggest obstacle today is the number of countries that are still banned bitcoin, Bitcoin is currently only legalized in a few countries and most countries choose neutral, but in my country has implemented taxes on several local trading sites so the direction of my government will likely legalize Bitcoin and Cryptocurrencies
If only more countries would legalize Bitcoin instead of banning it, more adoptions will happen. The government is just afraid of Bitcoin as a decentralized currency simply because they couldn't regulate it so there will surely be authorities who will show disagreement with its legalization. However, I still believe that there will be more countries that would adopt and value it as a currency in the future.
Jump to: