My biggest problem with bitcoin is Uncertainty and Value, the acceptance and future of bitcoin is uncertain and this is the biggest problem according to bitcoin.
Bitcoin Value As you know, the price of bitcoin is very volatile and makes people still have doubts or fears and knowledge that makes them lazy because for new people it is not easy to learn and understand bitcoin well and also how it works using technology, therefore because of fiat much easier.
for the government it is definitely the problem and enemy of bitcoin, and I think we all know why.
Topic: What's preventing bitcoin from worldwide adoption? - page 9. (Read 6012 times)
For me, the only thing that prevents Bitcoin from being accepted throughout the world is simply the lack of information or the ignorance of people, and that is all, if people read more and were not so visual as to believe everything they say in the media communication that is a shameless way of taking on the other hand certain things that happen, I think that people would be more active in terms of the market, the only way that some enter is because they hear from their friends the few who take risks of how much they have won, I don't blame them, it's a human characteristic, but many times for thinking like that the train is let go.
Bitcoin will be difficult to use by people who don't understand technology and can't read. a country will fail to innovate such as allowing bitcoin to be used as a means of payment if the majority of its citizens have little knowledge of technology. Bitcoin will still be difficult to be mass-adopted, I think it will take 10 to 20 years for bitcoin to be mass-used (mass adoption).
It is important to know that in these moments of life, there are many things that have accelerated, the issue of covid-19 that is worsening over China, and on the other hand the war between Russia and Ukraine, which some media outlets already They have given Russia that the 3rd World War started. For now the BTC and its adoption I see it much closer.
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.
Here the government's role is very much needed in providing equal distribution of education to everyone in the world...Bitcoin will be difficult to use by people who don't understand technology and can't read. a country will fail to innovate such as allowing bitcoin to be used as a means of payment if the majority of its citizens have little knowledge of technology. Bitcoin will still be difficult to be mass-adopted, I think it will take 10 to 20 years for bitcoin to be mass-used (mass adoption).
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.
Here the government's role is very much needed in providing equal distribution of education to everyone in the world...Bitcoin will be difficult to use by people who don't understand technology and can't read. a country will fail to innovate such as allowing bitcoin to be used as a means of payment if the majority of its citizens have little knowledge of technology. Bitcoin will still be difficult to be mass-adopted, I think it will take 10 to 20 years for bitcoin to be mass-used (mass adoption).
I guess it is a matter of time before the world ends up completely adopting Bitcoin, several countries have wanted to start with this idea, for example in El Salvador it has adopted Bitcoin as legal tender, the president of Honduras plans to incorporate BTC in the same way . Even in February, a Mexican senator said that
Source: https://cointelegraph.com/news/bitcoin-is-not-regulated-honduras-central-bank-pushes-back-against-legal-tender-rumors
The only inconvenience that I see possible is that governments introduce CBDCs instead of legalizing Bitcoin and want to restrict it or even ban it, what do you think?
Quote
planned to present a bill to the country's congress in 2022 proposing that BTC become legal tender
Source: https://cointelegraph.com/news/bitcoin-is-not-regulated-honduras-central-bank-pushes-back-against-legal-tender-rumors
The only inconvenience that I see possible is that governments introduce CBDCs instead of legalizing Bitcoin and want to restrict it or even ban it, what do you think?
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.
The government of any country prefers Bitcoin. But they consider the people and give legitimacy if it is possible considering how reliable they are in that country.For example, if we talk about our country, then the government will not give the legitimacy of bitcoin in our country very easily.Because the people of our country are not very educated here, if they invest in Bitcoin, they will invest approximately and at some point they will feel annoyed with Bitcoin and will blame the government.The government has to consider all the issues. But in return we blame the government.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.
tend to decide is that they do really able to engage crypto without being get caught and also adoption is on the move and its no doubt that it would more progress out in the future.
We arent that blind to see the differences in terms of recognition and popularity compared back into the past?
Self-education has a lot of pitfalls and trials and errors, unfortunately. In this business, in particular, the errors can be very costly, and people aren't always willing to take that risk. Being risk-averse, they don't want to deal with an industry they don't fully understand fear it would cost them too much to understand.
-snip-
Because the people of our country are not very educated here, if they invest in Bitcoin, they will invest approximately and at some point they will feel annoyed with Bitcoin and will blame the government.
Because the people of our country are not very educated here, if they invest in Bitcoin, they will invest approximately and at some point they will feel annoyed with Bitcoin and will blame the government.
I think it's just a minor consideration. Even without government legality, people can get away with their investment choices with no in-depth education. The government just needs to know how high the adoption (without legality) of bitcoin is in the country before it explodes, or the government will miss moments like state revenue.
In fact, the education level of people in certain countries cannot be screened accurately so far as bitcoin education is not standardized which is still new.
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.
The government of any country prefers Bitcoin. But they consider the people and give legitimacy if it is possible considering how reliable they are in that country.For example, if we talk about our country, then the government will not give the legitimacy of bitcoin in our country very easily.Because the people of our country are not very educated here, if they invest in Bitcoin, they will invest approximately and at some point they will feel annoyed with Bitcoin and will blame the government.The government has to consider all the issues. But in return we blame the government. 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.
Bitcoin remains to be adopted by every country in the world for various reasons. Here are my thoughts on why..
1. Government policies
2. Scammers and fraudulent practices
3. Fluctuating value
4. Awareness
5. Information hoarding
...
1. Government policies
2. Scammers and fraudulent practices
3. Fluctuating value
4. Awareness
5. Information hoarding
...
I believe Bitcoin's "fluctuating value" and government policies are factors that greatly affects its ability to be widely adopted in the mainstream world. If it wasn't by that, most people would've already joined the game. Despite Bitcoin's underlying "issues", popularity's been increasing at a slow and steady rate. Right now, Bitcoin is much bigger than it was a few years ago.
For the first time in history, a country adopted Bitcoin as legal tender. Everything seems to be heading in the right direction, so I wouldn't be surprised if Bitcoin reaches a level of adoption comparable to that of Fiat in the long term. No one knows what will happen in the future so the best we can do is hope for the best. Just my opinion
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.
one of the fundamental reasons is the writing of op no 1...
because the adoption of bitcoin can be used, it depends on the laws of bitcoin transactions in all countries.... because a government will give a status that guarantees the safety of its people when transacting bitcoin not only as a legal asset to trade not a means of payment like el salvador
Bitcoin adoption will occur globally when it is legal to become a means of payment
because the adoption of bitcoin can be used, it depends on the laws of bitcoin transactions in all countries.... because a government will give a status that guarantees the safety of its people when transacting bitcoin not only as a legal asset to trade not a means of payment like el salvador
Bitcoin adoption will occur globally when it is legal to become a means of payment
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.
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.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.
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.
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.
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.
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.
I always think Bitcoin is yet to have a worldwide adoption because it isn't fit for it yet. I am not saying that it can't be adopted worldwide but I think the network isn't ready for the mainstream yet. We can agree to disagree but applying the bitcoin transaction speed to real-life functions will surely generate billions of dollar losses due to the delay. Government and companies are not dumb to accept such kind of technology that incur losses. Please correct me if I am wrong on this.
the three main things that are hindering world wide adoption are:
1. over 50% of the world are on low income. meaning their minimum wage is less than half of the minimum wage of developed countries
this is important because if the transaction fee is ~$1.60 (lows over $1 highs over $3 at time of post)
https://api.blockchain.info/charts/preview/fees-usd-per-transaction.png?timespan=30days&h=405&w=720
where for instance people do not want to be paying an hours labour just to make a transaction.
nor do they want to be paying 10% fee just to spend say $16 funds. .. meaning they wont use it to buy things for $2-$15 which could be a few days worth of wages or a whole weeks worth of groceries for millions of people
..
there are many corporate/political aligned people in the community that do not want bitcoin to be used by the poorest nations. do not want bitcoin to be used for daily use. they make many silly excuses that are meaningless in the 21st century, but they really try hard to dissuade people from using bitcoin and instead try to off-ramp people into other networks
they want expensive fee's and other things that make it less useful. all to advertise their other networks as the replacement/upgrade people should move over to.
1. over 50% of the world are on low income. meaning their minimum wage is less than half of the minimum wage of developed countries
this is important because if the transaction fee is ~$1.60 (lows over $1 highs over $3 at time of post)
https://api.blockchain.info/charts/preview/fees-usd-per-transaction.png?timespan=30days&h=405&w=720
where for instance people do not want to be paying an hours labour just to make a transaction.
nor do they want to be paying 10% fee just to spend say $16 funds. .. meaning they wont use it to buy things for $2-$15 which could be a few days worth of wages or a whole weeks worth of groceries for millions of people
..
there are many corporate/political aligned people in the community that do not want bitcoin to be used by the poorest nations. do not want bitcoin to be used for daily use. they make many silly excuses that are meaningless in the 21st century, but they really try hard to dissuade people from using bitcoin and instead try to off-ramp people into other networks
they want expensive fee's and other things that make it less useful. all to advertise their other networks as the replacement/upgrade people should move over to.
I think it's very valuable what's written here.
The richer countries do not consider the poor ones, or they consider them as just that. It's the same tale all over again, the rich become richer and the poor poorer; because that's what benefits this entire system.
Not all countries live under the same circumstances, not all can invest as they pleased into cryptocurrency, in bitcoin as we are talking about here.
it drops everyweek, every month and often everyday. there has never been a year without a major crash;.
Until you retarded niggers can go 3 years without dumping you are provable dogshit
Until you retarded niggers can go 3 years without dumping you are provable dogshit
Why would people not want to share information?
A better question is:
'Why would private companies want to buy or harvest your information?'
Answer: Because it's valuable.
Perhaps people still don't realise how profitable data analysis can be.
And governments want data for surveillance and control. So yeah, I want to share as little of my information as possible.
Government suppression plays a big role in this as well.
Several times governments of different countries will declare a ban on crypto, prohibit the citizens from associating with it, sometimes declare legal action against who stubbornly do.
These type of action from the government is causing fear among many people, some people like to play by th book, they don't want any government legal action on them so they stay away. Take countries with low income for instance, most of them will not like to accept btc for their businesses because it is not government approved. Nobody wants to risk the little income they earn for a currency that is not generally accepted.
Several times governments of different countries will declare a ban on crypto, prohibit the citizens from associating with it, sometimes declare legal action against who stubbornly do.
These type of action from the government is causing fear among many people, some people like to play by th book, they don't want any government legal action on them so they stay away. Take countries with low income for instance, most of them will not like to accept btc for their businesses because it is not government approved. Nobody wants to risk the little income they earn for a currency that is not generally accepted.
I'd say time but that'd probably be a vague answer, but really, a lot of problems could probably be solved if the world was given enough time to integrate and understand what and how Bitcoin (or crypto) works. It isn't pushed by anything, kinda like the adoption we have right now is something "naturally made" unlike fiat since that's, well, kind of endorsed by the government, hence why it can easily be accepted. It's the difference between being educated vs trying to educate yourself if I were to compare it to something?
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