what hinders bitcoin to become a mainstream currency?

[Doofus]

Security? Crime? Inflation?
Bitcoin is money and thus serves the same functions that any money does: a medium of exchange, a unit of account, and a store of value.But can it prominently satisfy all these functions?

[lasthero]

I feel its more education than anything, honestly for someone like myself I heard of bitcoin way back in like 2010 or so, sounded interesting wanted to spend 20$ on buying some but opted not to (bad decision could have made some money).  The reason why I didn't? It was confusing as hell to understand how to even get started. Fast forward now to 2017, I'm only starting to get in on this, and why?  Because there are slightly more resources now to understand what in the world bitcoin actually is and how to actually get started. 

Maybe if one day from an early age if people's kids are taught how to use bitcoin and what it is, then it will become more mainstream.

[gracia0023]

The government is the main obstacle that hinders bitcoin. The crimes are not caused by bitcoin, it is caused by people and they use bitcoin to make that crime, even fiat is not to be blamed so why blame it on bitcoin. Inflation is not a new thing. It has always been there since fiat exist and since bitcoin is like fiat in a way, then inflation will be there also. As for the security, bitcoin's security is strong enough to withstand attacks, wallets and exchanges are the one who are prone to attacks.

Going back to the government (in some countries), they impede bitcoin's progress and growth because of its anonymity and decentralization. We cannot blame bitcoin for being like that because bitcoin is bitcoin and that's that, the government just have to compromise and deal with bitcoin just the way it is.

[RoommateAgreement]

people love to blame others for their mistakes or what they lack.
it is not the government, it is not the banks, it is not .... it is users themselvs. when you see people are not willing to spend bitcoin (use it as a currency) and see bitcoin as only an investment which they will hold for 100 years you can't really expect merchants to accept it and eventually reach mainstream adoption.

[Sithara007]

Security? Crime? Inflation?

None of these. IMO, the biggest issue is the lack of partnerships with the major online retailers such as Ebay, Alibaba, and Amazon. If any of these major online shops start accepting BTC, then the userbase will increase by many times.

[Wind_FURY]

Security? Crime? Inflation?
Bitcoin is money and thus serves the same functions that any money does: a medium of exchange, a unit of account, and a store of value.But can it prominently satisfy all these functions?

Nothing. You just have to accept that Bitcoin was not meant to be a "mainstream" currency. How can it be? It is slow, there is no charge back feature and the government will have a hard time controlling it. But that does not mean you should stop using or stop having some of it.

[Catmony]

Security? Crime? Inflation?

Security = Bitcoin is the most secure form of payment
Crime = Fiat is also related with crime along with bitcoin, this can't hinder the growth of bitcoin
Inflation = Bitcoin have ZERO inflation so this doesn't make any sense

Bitcoin will be mainstream currency, but it need some time.

[Golftech]

Security? Crime? Inflation?

Security = Bitcoin is the most secure form of payment
Crime = Fiat is also related with crime along with bitcoin, this can't hinder the growth of bitcoin
Inflation = Bitcoin have ZERO inflation so this doesn't make any sense

Bitcoin will be mainstream currency, but it need some time.

nice answer mate those information is not been broadcast that's why people awareness should be taking care as well
from this point bitcoin can be popular will gather more interest coming from investors and businessman, the more they
understand those advantage the more interested they can be to this system.

[CARrency]

Security? Crime? Inflation?

Security = Bitcoin is the most secure form of payment
Crime = Fiat is also related with crime along with bitcoin, this can't hinder the growth of bitcoin
Inflation = Bitcoin have ZERO inflation so this doesn't make any sense

Bitcoin will be mainstream currency, but it need some time.

It needs a lot of time. It has many flaws that needs to be fixed. When it becomes a mainstream currency many users will be using it, but with these many users, it needs fast transactions and lower fees,

[topesis]

The government is the main obstacle that hinders bitcoin. The crimes are not caused by bitcoin, it is caused by people and they use bitcoin to make that crime, even fiat is not to be blamed so why blame it on bitcoin. Inflation is not a new thing. It has always been there since fiat exist and since bitcoin is like fiat in a way, then inflation will be there also. As for the security, bitcoin's security is strong enough to withstand attacks, wallets and exchanges are the one who are prone to attacks.

Going back to the government (in some countries), they impede bitcoin's progress and growth because of its anonymity and decentralization. We cannot blame bitcoin for being like that because bitcoin is bitcoin and that's that, the government just have to compromise and deal with bitcoin just the way it is.

Totally agree with you, Government, they want control of your life but with Bitcoin, they lose this control. I believe they are just fighting a lost battle

[arransiv]

That not enough people use it or know about it and some countries prevent BTC from spreading across.That for me are the biggest reasons,also the misunderstanding about BTC that some people have.That's why it's good for us to have campaigns about BTC where it is explained in an easy and understandable way because many people hear about BTC but don't associate it with something positive

[Kakmakr]

Security? Crime? Inflation?
Bitcoin is money and thus serves the same functions that any money does: a medium of exchange, a unit of account, and a store of value.But can it prominently satisfy all these functions?

The only thing standing in Bitcoin's way now is global governments. They are so closely linked to the fiat banking systems that they cannot distance themselves from it. The fiat banking system is the building blocks of the financial world and a system that helped to keep some governments in power.

They also help these governments to control and monitor individuals with their private internal ledger systems.

Once these governments break away from these traditional systems, we might have a much better future. ^smile^

[NUFCrichard]

Security? Crime? Inflation?
Bitcoin is money and thus serves the same functions that any money does: a medium of exchange, a unit of account, and a store of value.But can it prominently satisfy all these functions?

Security should be a major stepping stone, if major exchanges can't secure their coins, how will my Granny manage it?  Crime doesn't really matter, it is used as an excuse. People commit crime with cash, crypto and bank transfer.

Inflation also isn't really an issue in a growing market. My 1 bitcoin is worth more than it was, even though it has been 'reduced' in value by inflation.

I think you missed scalability and the lack of a true need! They are 2 major issues, people don't see why they should use Bitcoin.

[crypted]

nothing, were about to become mainstream. enjoy !  

[Doofus]

I feel its more education than anything, honestly for someone like myself I heard of bitcoin way back in like 2010 or so, sounded interesting wanted to spend 20$ on buying some but opted not to (bad decision could have made some money).  The reason why I didn't? It was confusing as hell to understand how to even get started. Fast forward now to 2017, I'm only starting to get in on this, and why?  Because there are slightly more resources now to understand what in the world bitcoin actually is and how to actually get started. 

Maybe if one day from an early age if people's kids are taught how to use bitcoin and what it is, then it will become more mainstream.

Education is good, but it can not change the fact tt btc is often associated with crimes, tax evasion, ML. 

[QuestionAuthority]

The question needs to be clarified before it can be answered.

By mainstream currency, do you mean fiat currency? If you do here's the reason it can't happen:

Fiat currency is established as money by government regulation or law. The term derives from the Latin fiat ("let it become", "it will become") used in the sense of an order or decree. Government fiat is minted and controlled solely by the issuing government.

By mainstream currency, do you mean a regularly used means of exchange used by the masses? If you do then it depends on government regulations and acceptance.

Japan for example is becoming more open to Bitcoin than any other country. The U.S. treats Bitcoin more like a commodity and has stiff laws against making a competing currency. In the U.S. a man named Bernard von NotHaus was found guilty of counterfeiting charges for minting and distributing a form of private money called the Liberty Dollar. There are ways around that problem even in the U.S., during the Great Depression, local governments, businesses and individuals issued currency, known as scrip, to keep commerce flowing when bank closings led to a cash shortage. Scrip is legal but, by law, may not resemble federal bills or be promoted as legal tender of the United States. That's kind of where Bitcoin is now but people have always been hesitant to accept scrip as they would government fiat. It will take some time for wider acceptance to happen because trust must be established first.

You're right, Bitcoin could serve all the functions of money you outline. It could be a medium of exchange, a unit of account, and a store of value. Widespread use as those functions depends on governments regulation of Bitcoin (or lack of), the individuals willingness to accept scrip instead of their local fiat, and bitcoins continued evolution. Right now, today, Bitcoin isn't ready for the job.

[Amph]

regulation, come to my mind first, after all amazon and other are not accepting bitcoin because of no proper regulation, japan did experienced an increase after they regulated and accepted it as a payment

if every government follow what japan did, you can be assured that bitcoin will be successful

[SONG GEET]

It needs a lot of time. It has many flaws that needs to be fixed. When it becomes a mainstream currency many users will be using it, but with these many users, it needs fast transactions and lower fees,

For faster transactions and lower fees, segwit need to be activated and it is quite not sure when all this political drama over block size debate will end so that we will get segwit and LN afterwards.

[Doofus]

The question needs to be clarified before it can be answered.

By mainstream currency, do you mean fiat currency? If you do here's the reason it can't happen:

Fiat currency is established as money by government regulation or law. The term derives from the Latin fiat ("let it become", "it will become") used in the sense of an order or decree. Government fiat is minted and controlled solely by the issuing government.

By mainstream currency, do you mean a regularly used means of exchange used by the masses? If you do then it depends on government regulations and acceptance.

Japan for example is becoming more open to Bitcoin than any other country. The U.S. treats Bitcoin more like a commodity and has stiff laws against making a competing currency. In the U.S. a man named Bernard von NotHaus was found guilty of counterfeiting charges for minting and distributing a form of private money called the Liberty Dollar. There are ways around that problem even in the U.S., during the Great Depression, local governments, businesses and individuals issued currency, known as scrip, to keep commerce flowing when bank closings led to a cash shortage. Scrip is legal but, by law, may not resemble federal bills or be promoted as legal tender of the United States. That's kind of where Bitcoin is now but people have always been hesitant to accept scrip as they would government fiat. It will take some time for wider acceptance to happen because trust must be established first.

You're right, Bitcoin could serve all the functions of money you outline. It could be a medium of exchange, a unit of account, and a store of value. Widespread use as those functions depends on governments regulation of Bitcoin (or lack of), the individuals willingness to accept scrip instead of their local fiat, and bitcoins continued evolution. Right now, today, Bitcoin isn't ready for the job.

You are right about mainstream. Just like the US dollar.

[pooya87]

volatility, age and adoption.
that is all the things that are "slowing down" the process. when price changes a lot as in big swings and the media is full of propaganda against bitcoin then regular people get scared of wanting to try bitcoin out. you know people love their money and don't want to lose it.
which is why it is a slow process and taking a long time.

although Japan is seemingly getting ahead of the rest of the world and they are reaching that stage.