Bitcoin for a few...!

[boyptc]

Bitcoin is known by almost everyone in this world

Not that almost everyone. But people who have access in the internet probably heard about bitcoin but they don't really know what it is.

but most people still are not comfortable investing in it because of the negative publicity from the mainstream media and the scams associated with it.

They are not comfortable because they don't understand it and only heard those scammers who used bitcoin with the scam they made.

Governments have also created a panic regarding Bitcoin with its citizens.

Not all, in fact, most of the governments that didn't put ban on bitcoin are likely to be ok with it.

[tyz]

Is Bitcoin really a thing for a few billions?

If you would add one word to your question, I would answer your question Yes

Bitcoin is not just for a few but for everyone, but there are reasons why it is currently only used by a few. Bitcoin and all the technology behind it requires a certain basic knowledge that one first have to acquire to understand its function and benefits. Without this, Bitcoin is just a term with no real understanding. To really be a payment option for everyone, this technological hurdle has to be overcome sooner or later so that it is as easy to use as electronic fiat.

[Onuohakk]

Bitcoin is not just for few individuals, but for everybody. Satoshi aim is to create a decentralized currency (bitcoin) for all to use, irrespective of your financial status.
Only few of the human race has the knowledge of bitcoin. that's why we can easily differentiate those that has the knowledge of bitcoin from those that doesn't.
Although as for me, I get to find about bitcoin from this forum

[Daniel91]

Bitcoin is not just for few individuals, but for everybody. Satoshi aim is to create a decentralized currency (bitcoin) for all to use, irrespective of your financial status.
Only few of the human race has the knowledge of bitcoin. that's why we can easily differentiate those that has the knowledge of bitcoin from those that doesn't.
Although as for me, I get to find about bitcoin from this forum

Yes,  bitcoin is for everybody but 10 years is to short time to become mainstream.
We need more practical ways how to use btc in every day life 
I think that already many people heard about btc but only a few understand btc technology.
You are right,  this forum is the best place to learn about btc.

[Subbir]

Bitcoin may be a very fashionable currency and there's no set rule for a way many of us will use it The more Bitcoin is employed the more its demand will increase Bitcoin is getting used in many countries of the planet. However, the digital currency called 'Bitcoin' is being widely discussed the most reason for this is often the record increase within the value of this currency people are inclined towards it at an enormous rate More information is often found by reviewing the varied sites of the forum.

[GDragon]

What seems clear is that is seen more as an investment than a day to day operational facilitator, and that delimits the number of players with interest in it.

I may not agree before but now I understand why some people only see it as an investment and not as a currency. It also has this bad image of something being used illegally or for fraud and scam. One reason are those trolls spamming facebook comments sections with copy paste invitation to invest in btc, one look and even a dumb person who haven't heard of btc his entire life would know it wasn't true. A comment with that receives a lot of laughing react, making btc something used by scammers to get money.

It really is one click away for someone to know more about btc but unfortunately they decided not to. Those people now have lost interest in btc and now have a bad image of btc inside their mind.

[pixie85]

Why is it that so many are just aware of the term and yet still know almost nothing about it?
Do you think this has any effect on Bitcoins development?

I'm sure there are many topics you know very little about but can recall certain names. Like you've heard about cold fusion or quarks.

Many people drive cars every day but don't know what a difference beteen 2 stroke and 4 stroke engine is. They know they have a catalytic converter but don't know what's inside or how it works.

The influence on development may not be big but the one on adoption is significant.

[hatshepsut93]

From the point of view of an average person, Bitcoin is worse than using banks. Inflation doesn't affect them much, because they don't store millions in cash under their beds, they put their savings in funds that beat inflation and make some profit on top of it. Meanwhile Bitcoin's volatility is far worse than small and predictable inflation, because it makes it impossible to plan for things.

From the point of view of security, an average person is much more likely to lose coins to hackers, accidents or robbery than having their bank account frozen for no good reason.

Many banks these days have instant transactions with small or zero fees, so again they are more practical, if we ignore Lightning Network since it's still in beta.

The problem that Bitcoin solves - having to trust third parties, is not a problem for the overwhelming majority of the population.

[khaled0111]

Maybe because the majority are used to banks and other financial institutions and simply are not yet ready to start using Bitcoin which implies being your own bank.
Besides, the number of stores / merchants / services which accept cryptos is still negligible compared to those offering other online payment methods.

Personally, it took me more than two years before the first time I heard about bitcoin and the first time I practically used it. So, I think ten or eleven years isn't really a long period and, possibly, it will take longer before we see a wider adoption.

[Kelvinid]

Is Bitcoin really a thing for a few?
Why is it that so many are just aware of the term and yet still know almost nothing about it?
Do you think this has any effect on Bitcoins development?

Many people have already heard Bitcoin but unfortunately, only a few of them give the response and seek more knowledge while the others close their eyes and keep blinded not to see the best opportunity that Bitcoin has.

Remember, not all of us are open-minded people. Once they heard negativity about crypto, they keep it in general affecting the image of Bitcoin. it is somewhat hard to educate people when they close already their minds and never let it open. In that case, we can't push them either to adopt and think positive. They don't listen to the other side of Bitcoin but certainly, they are just listening in to the FUD which only leads misinformation.

[gentlemand]

Maybe because the majority are used to banks and other financial institutions and simply are not yet ready to start using Bitcoin which implies being your own bank.

For better or worse it'll be bank involvement that draws more people in. That's what they're used to and they're unlikely to change now. The best we can hope for is that enough people choose to take control for themselves, but for some it's better if someone continues to hold their hand.