What’s Stopping Crypto Markets from Entering the Mainstream

[cabron]

Mass adoption is still dream.
We have too much ¨old people¨ in this world, bank system is still best option for a lot of them.
Soon new generations will change it, it takes time.
In Crypto this time could be only a few years, but to have actual economic situation took many many years!

That means we'll have to wait til the elders are dead right?

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[Willitivity]

After 10 years down the line, one should rightly think that crytpo would have been mainstream by now. There are a couple of things still hindering this from happening.
First, the volatility of cryptocurrencies is not everyone can handle. To this, so many still po refer their fiat since they don't have to face such challenges on them.
Secondly, the technical requirements needed to keep cryptos aloft is lacking in so many places especially in developing countries.
Also, lack of awareness has also played a part in delaying crypto markets from achieving mainstream recognition.

[rocku12345]

Mass adoption is still dream.
We have too much ¨old people¨ in this world, bank system is still best option for a lot of them.
Soon new generations will change it, it takes time.
In Crypto this time could be only a few years, but to have actual economic situation took many many years!

The main problem of not accepting cryptocurrency as a fixed asset is the lack of any guarantors to protect your money. Now stock exchangins hacking are common, after which the owners often just shrug. It is necessary to develop a mechanism for the cryptocurrency of the future, where will be mechanisms to prevent such cases.

[diazepam666]

Obviously lacking of knowledge one and only biggest problem for the crypto industry. This is the major reason and many people does not know what is bitcoin and what its actual uses kind of things.
If you want to pluck out these obstacles, We need to educate about the cryptocurrencies to many people. Once it has been fulfilled we do not need to worry about anything and make use of it.

[nelson4lov]

Obviously lacking of knowledge one and only biggest problem for the crypto industry. This is the major reason and many people does not know what is bitcoin and what its actual uses kind of things.
~Snipped ~

I agree with you. People always hesitate to adopt something they know very little about. But It's not really about Educating people. If one isn't tech savvy, It'll be difficult to understand the concepts of blockchain and how it works at the first instance.The first step to max adoption would be making cryptos easier to use. Right now, most people want to integrate crypto without their stores, businesses etc but the process isn't easy. Another major isn't is the volatility of crypto market too. Most people just can't afford such risks

[wxa7115]

snip

Consider these growth metrics for the crypto sector:

84% of respondents to a PwC executive survey are dabbling in crypto’s underlying technology, the blockchain
89% of the U.S. population has heard of Bitcoin, a 12% increase since 2017
11% of the U.S. population has invested in a cryptocurrency
34,660,975 people have created a blockchain wallet, a number that has risen every quarter since 2016.

More info and source here

Taken together, it’s clear that crypto is making significant inroads at many levels of financial and technological space. And yet, obstacles remain to crypto investment markets becoming normative and broadly accepted. Even though cryptos are outperforming every other major investment vehicle in 2019, including stocks, bonds, gold, and oil, they remain a fringe industry.


What do you think is the real reason Crypto is not becoming Mainstream?

One of the most simple reasons is that the market is still too new and innovative and people do not really understand it, it is my opinion that it will take at least a few decades for bitcoin to become mainstream because it takes that long for people to adapt and get used to new technologies, however lets not pretend that bitcoin is ready to be used by billions of people, it is not, as soon as the price begins to recover the fees begin to skyrocket and that is with just a couple million of users.

What do you think it will happen if a billion people were trying to use bitcoin? So before we can see mass adoption we need the problem of scalability to be solved completely.

[dunfida]

snip

Consider these growth metrics for the crypto sector:

84% of respondents to a PwC executive survey are dabbling in crypto’s underlying technology, the blockchain
89% of the U.S. population has heard of Bitcoin, a 12% increase since 2017
11% of the U.S. population has invested in a cryptocurrency
34,660,975 people have created a blockchain wallet, a number that has risen every quarter since 2016.

More info and source here

Taken together, it’s clear that crypto is making significant inroads at many levels of financial and technological space. And yet, obstacles remain to crypto investment markets becoming normative and broadly accepted. Even though cryptos are outperforming every other major investment vehicle in 2019, including stocks, bonds, gold, and oil, they remain a fringe industry.


What do you think is the real reason Crypto is not becoming Mainstream?

One of the most simple reasons is that the market is still too new and innovative and people do not really understand it, it is my opinion that it will take at least a few decades for bitcoin to become mainstream because it takes that long for people to adapt and get used to new technologies, however lets not pretend that bitcoin is ready to be used by billions of people, it is not, as soon as the price begins to recover the fees begin to skyrocket and that is with just a couple million of users.

What do you think it will happen if a billion people were trying to use bitcoin? So before we can see mass adoption we need the problem of scalability to be solved completely.

This is where LN do sits in but for now its still on test/development phase.Scalability is one of the reasons why Bitcoin cant really be adopt completely.
Im not even hoping for it to happen though yet just to think into its entire supply wont really be enough to serve out the entire globe.
So it would be good if it would stay as it is as a digital currency.Its better to be considered as a viable option yet fiat would always still be the main ones.

[EdenHazard]

Mass adoption is still dream.
We have too much ¨old people¨ in this world, bank system is still best option for a lot of them.
Soon new generations will change it, it takes time.
In Crypto this time could be only a few years, but to have actual economic situation took many many years!

There's a lot of solid reasons why bitcoin has not used widely yet despite how the growth of cryptocurrency in the last few years skyrocketing.. numbers of crypto business day by day increased.. numbers of crypto user growing fast etc but it's long way to go ..

Banks is the first reason for me , they won't let crypto go mainstream as they are making money through people idiocies . Crypto eliminates the middleman and the middleman itself is banks.

Makes sense? Of course it is! Banks and feds the two greedy bastard loving monopoly!

[Taskford]

Mass adoption is still dream.
We have too much ¨old people¨ in this world, bank system is still best option for a lot of them.
Soon new generations will change it, it takes time.
In Crypto this time could be only a few years, but to have actual economic situation took many many years!

There's a lot of solid reasons why bitcoin has not used widely yet despite how the growth of cryptocurrency in the last few years skyrocketing.. numbers of crypto business day by day increased.. numbers of crypto user growing fast etc but it's long way to go ..

Banks is the first reason for me , they won't let crypto go mainstream as they are making money through people idiocies . Crypto eliminates the middleman and the middleman itself is banks.

Makes sense? Of course it is! Banks and feds the two greedy bastard loving monopoly!

Correct the banking institution makes the bitcoins hard to get a massive adoption since they are been threaten that there costumer base will lessen if bitcoins will get a legalities, but also I think the big part of it is the government since they cannot control it because of it's anonymity.

[Mahanton]

Mass adoption is still dream.
We have too much ¨old people¨ in this world, bank system is still best option for a lot of them.
Soon new generations will change it, it takes time.
In Crypto this time could be only a few years, but to have actual economic situation took many many years!

There's a lot of solid reasons why bitcoin has not used widely yet despite how the growth of cryptocurrency in the last few years skyrocketing.. numbers of crypto business day by day increased.. numbers of crypto user growing fast etc but it's long way to go ..

Banks is the first reason for me , they won't let crypto go mainstream as they are making money through people idiocies . Crypto eliminates the middleman and the middleman itself is banks.

Makes sense? Of course it is! Banks and feds the two greedy bastard loving monopoly!

Monopoly is real and its been here since ages so theres no doubt that this system would last forever or with our lifetime. Adoption?

Im not too negative but for sure it wont come to the point where it would be fully adopted but at least we are seeing some progress but i highly believe that
it would just remain like that.Hoping isnt really that bad but dont expect too much yet its better to accept the reality and crypto is some sort of options for us and
lucky for those people who are aware into its existence because we can fully utilize its true usage.

[Shasha80]

Cryptocurrency is now increasingly recognized by the world community, but even so not all parties support the existence of this cryptocurrency. Therefore, it has been around 10 years for cryptocurrency to be used in human life, but why not become mainstream. Though many advantages are offered from cryptocurrency, the cause is the first one most don't understand what cryptocurrency is. So if people do not understand he will avoid it or choose not to use it. The second reason because of extreme volatility which means it has a very high risk because the price is volatile. The third is due to legal issues, people are afraid to use cryptocurrency because of fear considered illegal activities. Because the government has not fully accepted existence cryptocurrency, which is still in the gray zone.

[wxa7115]

One of the most simple reasons is that the market is still too new and innovative and people do not really understand it, it is my opinion that it will take at least a few decades for bitcoin to become mainstream because it takes that long for people to adapt and get used to new technologies, however lets not pretend that bitcoin is ready to be used by billions of people, it is not, as soon as the price begins to recover the fees begin to skyrocket and that is with just a couple million of users.

What do you think it will happen if a billion people were trying to use bitcoin? So before we can see mass adoption we need the problem of scalability to be solved completely.

This is where LN do sits in but for now its still on test/development phase.Scalability is one of the reasons why Bitcoin cant really be adopt completely.
Im not even hoping for it to happen though yet just to think into its entire supply wont really be enough to serve out the entire globe.
So it would be good if it would stay as it is as a digital currency.Its better to be considered as a viable option yet fiat would always still be the main ones.

It seems you are worried about the issue of the limited supply like many others, some have the idea there is not enough bitcoin to serve the whole population of the world, but this is not accurate, there is enough bitcoin but its limited supply means that it will be extremely valuable, if bitcoin really becomes adopted worldwide by billions of people I will not be surprised if just a few bitcoins were enough to consider a person to be extremely wealthy.

On average if every person of the world adopted bitcoin, a number that is currently at 7 billion, and we distributed the 18 million coins currently in circulation each person will only get 0.002571BTC, while the numbers are unrealistic this should give you an idea of how valuable bitcoin could become in the future since a person holding one bitcoin will have almost 400 times more money than the average person.

[JessicaVL]

I think there's still a level of distrust towards cryptocurrencies from the general population, or even a feeling of intimidation. Crypto is still very much seen as a "techy" product, and perhaps many people feel like they can't grasp the basic concept enough to ever feel full comfortable with using it, either as an investment or as a mode of exchange. I do think sentiments are changing, and adoption rates are still on the rise. I think as public awareness grows, crypto will eventually hit the mainstream. When I was a crypto noob, I found that marketplaces like Vertex really helped make things a lot less intimidating because of how accessible they are.

[bitbunnny]

Traditional economy and banking system, lack of regulation and education, these are only some of reasons. Also, cryptocurrencies are not designed to support economy as it is functioning now in majority of countries. Also, not all countries have good connectivity and Internet, digital skills and knowledge how to use cryptocurrencies. There are many obstacles for cryptocurrencies to become mainstream and to achieve mass adoption. I don't think if ever this is going to change entirely.

[TheUltraElite]

I think there's still a level of distrust towards cryptocurrencies from the general population, or even a feeling of intimidation.

Your methods of shilling your own site need to improve. Stop making yourself look like a joker inserting a link in the middle of the text.

Cryptocurrency is now increasingly recognized by the world community,

but even so not all parties support the existence of this cryptocurrency.

These two phrases are contradictory. It is not supported by all parties and that is why it is less recognised. I dont think any of the 40+y old population think of it as a mode of payment, unless they had been early investors. New investors of this age group is rare.

Though many advantages are offered from cryptocurrency, the cause is the first one most don't understand what cryptocurrency is. So if people do not understand he will avoid it or choose not to use it.

Some people do but they are not happy with the concept of "decentralisation". They feel even though it is supposed to bring back power to them, it is actually taking it away, making things less secure.

The second reason because of extreme volatility which means it has a very high risk because the price is volatile.

Any speculative market is volatile. Even the fiat currencies are volatile because they are forexed everyday.

The third is due to legal issues, people are afraid to use cryptocurrency because of fear considered illegal activities. Because the government has not fully accepted existence cryptocurrency, which is still in the gray zone.

Legal problem is a major factor. Governments wont accept bitcoin very easily and they will continue to do against it. Nothing much can be done in this case.

[Gontxi]

it must be admitted that most people still feel comfortable with fiat money, after all they can get it and spend it. most haven't tried and considered cryptocurrency, bad issues that often circulate become one of the factors that make people worry

[wxa7115]

it must be admitted that most people still feel comfortable with fiat money, after all they can get it and spend it. most haven't tried and considered cryptocurrency, bad issues that often circulate become one of the factors that make people worry

But how long it is going to last? There is no denying that people feel very comfortable with their fiat money but at some point this will stop, we know that governments are printing too much money, we also know that governments are heavily indebted and that many banks are insolvent, the economy is still going on just by inertia and when that inertia stops you are going to see all kind of problems emerging.

At that point people will lose confidence in their currency and they will try to find some way to protect themselves, obviously at that point it will be too late and they will have to pay a very heavy price for not adopting cryptocurrencies earlier.

[iv4n]

Answer on this question is pretty obvious. Two things are holding crypto markets from entering mainstream, first is government-bank sector! We can`t say just governments, or just banks, they are one sector, they work together, they make laws, print and distribute money, they have regulations, to keep it simple they are centralized institutions and they are responsible for the system we have for years.
Other thing is ignorance. People don`t know nothing about their own economies, to not mention global economy. Basic things like what is supply and demand, who create laws and regulations, how is money printed and distributed, and many many other things. How can this people understand blockchain? We need to work on education, people must learn about current systems about blockchain and to see for themselves what is better and more useful.

[AjithBtc]

Cryptocurrencies go mainstream when there is increase in merchants accepting cryptocurrencies similar to fiat. Right now this is very limited and increased access is available with very few number of cities around the world. This means more preference is given to be an investment asset as well for trading purposes. When this changes this will slowly reach close to the mainstream usage.

[Jating]

it must be admitted that most people still feel comfortable with fiat money, after all they can get it and spend it. most haven't tried and considered cryptocurrency, bad issues that often circulate become one of the factors that make people worry

There might be some section of the society that are comfortable with Fiat money, you can still consider them as slaves of the system, but people should look for other options. And crypto are giving them that choice, and it will be just a matter of time that they realised that they can't live with fiat system alone. There should be other outside, like crypto that can offer them more freedom from governments and the old banking system.

Government and banking system are really the hindrance here, because they know that they would lose control. Just look at what China did, they wanted to at least curb those crypto enthusiast there. But can they really stop it? I don't think so.