Topic: What's preventing bitcoin from worldwide adoption? - page 8. (Read 6012 times)

I disagree with the fourth and the fifth points that you made. Talking about the fourth point you made which is – lack of awareness, a lot of effort has already been put into creating awareness for Bitcoin and I don’t think that’s a problem to the adoption of Bitcoin currently. Anyone who is not choosing to invest in Bitcoin is not because of awareness.

There are steady adverts about Bitcoin and other cryptocurrencies online on social medias and the internet as a whole. Bitcoin trended on Google several times as the list searched word, you would also see movies about Bitcoin and where it’s being mentioned, and you likely would come across people talking about it. So don’t say there are no awareness, there is, just that people don’t want to adopt, maybe due to other factors. And also know that bitcoin is not meant for everyone.

Lastly, as for information hoarding, there are already lots of articles that properly explains whatever information you need, which is why you shouldn’t rely on one source, always get information from different sources to be hundred percent certain.

I feel like besides the governments policies and laws, it has to do a lot with the industry BTC is... it's like gambling, if you think about it, it's pretty shady and everyone is exposed to getting scammed

The main reason for which Bitcoins aren’t adapted right now is the Government.
As Bitcoins are decentralised in nature, that is cannot control by any governing body, so the government hates Bitcoins.

Bitcoin remains to be adopted by every country in the world for various reasons. Here are my thoughts on why..

1. Government policies: Most government and financial institutions round the world seem not to want bitcoin cause of the financial freedom it gives to its users. They would want to control and tax the flow of finances of individuals and they probably fear the anonymous nature of its transactions. Some policies even go as far as criminalizing its use.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

These are my thoughts on what's preventing bitcoin from being adapted worldwide.

I do not think that we need governmental help. I mean it would be great if it happens but we do not "need" it, it is good to have and nothing more. There are also some governments that back it up as well, so it is not really that much of a big deal, it is going to be something special when big nations back it up and the price will go up and that's understandable, the adoption will go through the roof when that happens.

The main reason for which Bitcoins aren’t adapted right now is the Government.

For a currency to be globally adopted, it has to be backed by a government. The problem is that Bitcoin doesn't have any government to back it up. It is just a bunch of computer code. This lack of government support is the reason why some countries are banning Bitcoins. Another issue is that it is not easy to use. This is because of the fact that the Bitcoin network is a peer to peer network. Each transaction is verified by a computer called a miner. This consumes a lot of processing power.

Fear is the root cause of the people to inverse their money in crypto currency,people without language knowledge also not able to inverse the money.Nearly sixty percent of the people around this world are illiterate people.So how they can do trading.Trading need of technical support ,they need to analysis the price.When the market ups and down need to check immediately.

Bitcoin remains to be adopted by every country in the world for various reasons. Here are my thoughts on why..

1. Government policies: Most government and financial institutions round the world seem not to want bitcoin cause of the financial freedom it gives to its users. They would want to control and tax the flow of finances of individuals and they probably fear the anonymous nature of its transactions. Some policies even go as far as criminalizing its use.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

These are my thoughts on what's preventing bitcoin from being adapted worldwide.

Government: Government is the major reason why bitcoin adoption is not wide spreading across the countries. I said it is government because government is not neutral. If they don't like bitcoin and they are neutral about bitcoin matters, bitcoin adoption would have grown.

Government doesn't like bitcoin and they are out fighting bitcoin. Then people believe the government they know rather than bitcoin they don't know who is behind it. Immediately more countries try to make bitcoin their legal tender, the adoption of bitcoin will increase.