Why Bitcoin and cryptos will never gain mass adoption unless a few things change

[the_poet]

Every now and then I see forum members wonder why the world hasn't embraced Bitcoin yet. This is always a question that baffles me. I realize that being a part of a community in a deep way always has its disadvantages, the biggest of which is not being able to see things through the eyes of those that are not part of that community but constitute the vast majority in everyday life.

1) How can we expect the masses to adopt Bitcoin when the process of keeping your Bitcoin safe is so damn complicated that even bitcoiners get confused?

I've said it so many times: Bitcoin needs to be foolproof because the general public is dumb and lazy. Dealing with Bitcoin needs to be at least as easy as dealing with fiat, otherwise we can forget the slightest idea of mass-adoption. Not sure why the community keeps ignoring this.

2) Why should the average Joe decide to put his savings into a market in which the biggest players may disappear at any moment with their customers not having the slightest form of protection and being forced to passively accept the dreadful consequences?

Why do we refuse to acknowledge that the whole cryptocurrency world, as it is today, is a wild jungle that keep the general public away from it?

[bananas]

The only full solution for this i can think are banks. Paper money is also complicated to handle and safely store, that's why most people use banks.

[odolvlobo]

Why so negative? How about this instead:

Bitcoin will gain adoption as holding and using bitcoins becomes simpler and more reliable.

[bananas]

Why so negative? How about this instead:

Bitcoin will gain adoption as holding and using bitcoins becomes simpler and more reliable.

Right. But how will it become simple and reliable enough for the average joe?

[odolvlobo]

Why so negative? How about this instead:
Bitcoin will gain adoption as holding and using bitcoins becomes simpler and more reliable.

Right. But how will it become simple and reliable enough for the average joe?

I don't understand that question. Are you saying that it isn't getting simpler and more reliable and that it won't?

[bananas]

Why so negative? How about this instead:
Bitcoin will gain adoption as holding and using bitcoins becomes simpler and more reliable.

Right. But how will it become simple and reliable enough for the average joe?

I don't understand that question. Are you saying that it isn't getting simpler and more reliable and that it won't?

I'm saying it is currently not simple and reliable, it is very far from that.

[the_poet]

Why so negative? How about this instead:

Bitcoin will gain adoption as holding and using bitcoins becomes simpler and more reliable.

Not being negative, just realistic. I agree that "Bitcoin will gain adoption as holding and using bitcoins becomes (much) simpler and more reliable". But it won't get simpler and more reliable by itself, but the community supporting it is responsible for making it so. When will this happen?

[greenlion]

Email will never gain mass adoption. In order to send it, you need to open a terminal session on a network-connected Unix machine and execute arcane commands. The masses will never adopt email.

[Luno]

Ease of use has always been a concern, something worked on and wished for. We are in the business "explosion" phase now, so it's not so much more core developing that is decisive on the user friendliness issue, it's the implementation in businesses and applications.

Think of Bitcoin ATm's, Just flash your phone and swipe your card to load up your wallet app. No need to brainwallet anything. User friendliness has to be implemented on the application level.

Average Joe would not have to care about bitcoin security if the industry was established. We are getting there, have patience.

[Luno]

Either you do everything yourself and stay safe. Or you don't care but still don't deserve to get robbed.

I get your point completely Holliday, but there has to be room for safe uses of bitcoin through institutionalised providers for those who can't or won't educate themselves too.

everyone has a personal choice on how they administer their coins, but this laziness lead us to banks in the first place centuries ago.
The more "evolved" the bitcoin gets, the further we get from the original ideals. I can't see how this is avoidable.

Still the core principle is intact, you can still do all your banking on the backside of a napkin through a dial-up if you choose that with relatively good anonymity and speed.

OP's desire is legit too. bitcoin educated me, and quite dense on some of the subjects surrounding bitcoin.

[amspir]

1) How can we expect the masses to adopt Bitcoin when the process of keeping your Bitcoin safe is so damn complicated that even bitcoiners get confused?

Low-cost hardware wallets that connect to the public network cheaply and allow peer to peer transfers, seperate from your possibly malware-infested smartphone.

Hardware wallets could be "certified" and come with a guarantee of repayment if the funds (up to a certain limit) are stolen without the hardware being compromised or if the hardware failed due to manufacturing defect.  Private keys would never leave the hardware wallet.

Banks can play a role as "trusted" institutions where you store your bitcoins instead of keeping your private keys in your mattress.

[removebeforeflight]

1) yes, app simplicity is the key
2) the exchanges (specifically) need some form of regulation. Like it or
not we don't need a series of mtgox like failures.
3) this is a user adoption race, many bigger players such as
Apple, are recognizing that digital payments represent a huge
future market

[Luno]

If you are to gullible you get screwed over. If you are to suspicious of others you are screwed over.

Everybody is in a social context whether they like it or not. The only currency viable in society deprived of trust is guns and every trade is indistinguishable from robbery. (some here might think that this is an ideal?)

[BruceFenton]

It will get easier.

It will become more stable (as far as third parties etc)

It will take a bit of time but it's happening already.

[E.exchanger]

Answer for this is shitty authorities of countries for no reason banning the bitcoins also the banks have to get involved for mass adoption to take place !!

[jonald_fyookball]

I think hardware wallets are the way to go as far as making something simple
and secure for the masses.

A PC can be corrupted with malware, but a hardware wallet can't.

[spartanegr]

I think hardware wallets are the way to go as far as making something simple
and secure for the masses.

A PC can be corrupted with malware, but a hardware wallet can't.

Until we have debit card type usability (ease of use and storage) where the holder of the card still initiates the transaction it wont be picked up by the masses.  Having to take a picture of a QR code and use an app to initiate a transaction is more difficult than using a credit card.  This is the biggest problem as it currently stands.  Consumers don't care about the 2-5% fee.

Whoever can make the first hardware wallets with the ability to swipe a transaction into a machine, whether it be RFID or magnetic strip will truly be able to market to the non-crypto masses.