What's preventing bitcoin from worldwide adoption?

[Nerdy doctor]

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.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

These are my thoughts on what's preventing bitcoin from being adapted worldwide.

[franky1]

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)


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.

2. aside from the fee cost.. lets take the 'blockchain size'
ethereum is younger yet it is 1tb blockchain, yet no one is crying about their utility causing problems. many many developers have done alot of things to add features to ethereum and make it useful for many things. yet certain people dont want people using bitcoin that is much older but under half the size. they dont want daily use, they dont even want majority to be full node network backbone nodes. they try to mis-inform people to be leacher nodes pretending to be seeder nodes of block data.  they want value locks and then playing around with other networks that dont have the same security as bitcoin

3. aside from the silly excuses of why certain people think bitcoin should not be used by the masses
lets take the altnet argument
there are multiple networks all trying to steal the user-base of bitcoin by calling their network bitcoin[something] whether its pegged networks/forked networks/ or just name fame stealing networks. this dilutes the userbase over multiple networks and makes less people use the actual bitcoin network.
many then lose faith in the actual bitcoin network due to issues with the pretend 'bitcoin' networks. giving the real bitcoin network a bad name,
yep certain people pretend to adore bitcoin while trying to say that bitcoin is broke and people should use something else.

if over 50% of the world cant see value in using bitcoin because the fee is over an hours labour, and the bitcoin developers dont want to actually make it cheaper but do false advertising like making older transaction formats 4x more expensive and then call their new feature a 3x discount(end result is overal fee is higher then before) then those developers have not made improvements to make it useful for the 'unbanked' populations.
if the overal only feature benefit of the same new feature is just to create a format that allows offramping to other networks. you start to see that certain people in the community dont want mass adoption of bitcoin.

[BlackHatCoiner]

The main reason is the first one, IMO. If they cordially approved it, it'd probably knock the rough edges off the rest of the problems.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature.

There's nothing completely anonymous in the internet. Only levels of anonymity. Even though Bitcoin does provide a decent level of anonymity (if used properly) it's still not used in criminal activity as much as the media say. Studies[1] show that nearly 1% of the total transactions can be linked to anything illicit. There's also no studies which show that the ban of cryptocurrencies reduced criminality.

[1] https://cryptoforinnovation.org/resources/Analysis_of_Bitcoin_in_Illicit_Finance.pdf (page 4)

[...]

Yes, franky. The reason why it's not worldwide adopted is the block size. Sure, franky.

[franky1]

blackhatcoiner.. atleast get out of your house for once. get on a plane and travel the world

actually speak to people outside of your little cabin.
i have been to africa and asia.. and their issues are not the blockCHAIN..
the blockCHAIN issue is your silly altnet group and your fanclub of idolising devs that want off-ramping with the silly excuses that it is blockCHAIN size thats the issue.

asia has the highest speed internet. they dont care about blockchain size
like i already exampled. ethereum is gaining mainstream adoption and its chain size is 1TB
people are not crying about ethereums 1TB size.. but you and your altnet loving buddies jump into as many topics as you can, pretend that 400gb blockchains are too much and 2mb blocks are too much,
and mention how you dont want to see people buying things for $3 on bitcoin..

friggen youtube uses more bandwidth in 30 seconds then bitcoin uses in 10 minutes.
nearly every online game uses more bandwidth and space then bitcoin does
do you see them crying. no.. so accept that your desire to hinder utility on bitcoin is the reason bitcoins utility is hindered

its YOU guys that are the ones saying bitcoin shouldnt/cant scale.. yet it can.
YOU guys are the ones that dont want bitcoin used for mainstream usage like buying a $3 product at a whim
YOU are the idiots that dont want bitcoin to grow. YOU are hindering bitcoin growth

and no dont you even dare try to start advertising your altnet by pretending that it is bitcoin. dont even try to pretend that your altnet is the solution people should move over to. and no dont even try to convince people to prune their bitcoin node because you want people to think there is no harm in decreasing the amount of full nodes(centralising the full nodes(InitialBlockDownload seeder))

yes im calling you and your buddies out yet again.

especially when you and your buddies want to pretend its government caused issues.. when you lot cant even be bothered to read any government legislation properly.
yes i know you hate walls of text. but get used to it. my posts are like 1% of what legislation is. so if you dont like my post lengths than you must really hate reading legislation.. but thats your problem you need to get over, and start reading more

.. you and your buddies have pretended that america wants to kill bitcoin adoption by requiring KYC at the bitcoin-core wallet level, or where you and your buddies have said that core devs and even asic owners need to become MSB'brokers' to collecting KYC and report every user to authorities.. all false but you believe it to be true
 when that is not even a thing that is ever mentioned in any legislation in either US or EU..

so before trying to blame governments. look at your own actions and emotions of how you describe bitcoin when you try adverting your other network. and then you might see where the issues actually lay

[bittraffic]

Agree wth the above, worldwide adoption is next to impossible when government doesnt like that to happen. Everyone may hope BTC will be adopted everywhere but government will also do everything to prevent. CBDC is coming, thats what they want whether we like it or not.

Not everyone can afford BTC. Even if its adopted widely, the poor will have a hard time owning BTC. You can't reason that they can buy $20 fraction of BTC when they don't even have a job. The option, memecoin 😅

[hyudien]

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.

In my opinion, the problem is because we live under the flag of a country that has rules and laws regarding social and state life. And until now we are still lucky to be able to buy Bitcoin without worrying about being put in jail by the authorities as an act of money laundering. While you are right we are still being watched and continue to be controlled, but at least in the country where I live bitcoin is not banned. In fact, the government facilitates access to trade and invest in Bitcoin.

Like it or not, we take the safe path, because we don't live in El Salvador where the government system is very pro-cryptocurrency, especially Bitcoin.

[BlackHatCoiner]

its YOU guys that are the ones saying bitcoin shouldnt/cant scale.. yet it can.
YOU guys are the ones that dont want bitcoin used for mainstream usage like buying a $3 product at a whim
YOU are the idiots that dont want bitcoin to grow. YOU are hindering bitcoin growth

Why don't you scale it? Take the damn code, make your edits and convince people to use it. Bitcoin Cash-ers did it, switch to it to avoid all this hustle and bustle. No... You'll stay, because there's something keeping you. Something unique, that you can't find it elsewhere.

To avoid any misunderstandings: I don't say that changing the block size is necessarily a bad decision; we may have to, in the far future. Understand that it's the imposing way you want to implement your proposal, that I disagree with.

[Pmalek]

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.

The governments don't want to give a free pass to ordinary people. You will pay your taxes and you will obey our commands. That's what they say. That's why so much effort is put on deanonymizing Bitcoin and crypto users. They want to tax you and know who you are to tax you some more. And they play the financing terrorism card very well. I expect that more and more nations will start exploring government-controlled digital currencies.   

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

Cash is also anonymous. Criminal activities didn't prosper with the introduction of Bitcoin (it was there forever), just like global warming didn't get worse due to POW mining. But that's what they will tell us. 9/11 happened without Bitcoin. Drug trades, prostitution, and slavery were also financed with those beautiful and innocent dollars.

@franky1
It's the people who use Bitcoin that you should blame for the transaction fees. There is no reason to pay $3 for a transaction when you can pay $0.10, unless we are talking about multiple inputs and outputs and/or legacy addresses. Their fear or somehow losing their coins if the transaction doesn't confirm in the next block causes over paying. But if you think $1 or $3 is bad, have a look at the Ethereum blockchain since you mentioned it a few times in your post. 

[n0nce]

I would say it highly depends on the region. Though generally, points 1 and 4 will be the most prominent ones.

Technically, even if everyone would like to use BTC for everything, you can't get 'worldwide adoption' without the ability to get paid in BTC directly and paying your taxes in BTC, because then you'll always need FIAT as an intermediary for these tasks, kind of breaking the definition.

But lately, I noticed point 4 to gain a lot of importance, as I perceive a high amount of people that do know about cryptocurrency, think they're 'late to Bitcoin'; there's just in general a big lack of education in this field. It appears most people believe in these assets as only usable for mere speculation and a way to make quick money.

When I explained to a friend recently, that he can't only invest in cryptocurrencies (he is doing this for a year or so now, despite me trying to explain to him that it's not a good idea), but also use it to transact anonymously, quickly and cheaply worldwide, it was a huge eye-opener for him, since he actually needs to do these types of transactions from time to time. He literally hadn't grasped that this is possible and actually Bitcoin's main purpose until that day.
I don't think he's the only one though, as we see lots (actually increasing amounts) of disinformation spread online and elsewhere.


Regarding transaction fees, I found these online explorers for tx fees always pretty misleading. I rarely pay more than 1sat/vB (around $0.09 USD). The other day I waited for almost 12 hours to get it confirmed, but it went through, even though the day peaked at over 20sat/vB for a 1-block confirmation. $0.09 is not an insignificant amount of money in some countries (equivalent to ~50 cents in some places), but for small purchases they can definitely opt to use Lightning, no matter how much franky1 hates it...
And don't forget that alternatives such as international bank transfer or WesternUnion cost 5-10$ to send and take multiple days to arrive. 12 hours and $0.09 is nothing in comparison.

[dothebeats]

Government policies and awareness IMO are the greatest challenges as to why we are not there yet.

Of course, governments would like something that they can control and easily monitor, so they will certainly stick with fiat and banks, and try to limit the usage of cryptocurrencies by imposing lots of regulations that does not benefit the user.

On awareness, not everyone has access to such information albeit the current technology that we have. Poverty still lingers on a huge percentage of the world, and with it comes poor education which hinders people's ability to grasp information more easily. Sure, they may have heard about bitcoin and all, but what do they do with the limited information that they have if they can't put two and two together in the end?

[romero121]

All the mentioned points were preventing bitcoin from worldwide adoption. Region and the salary is much concerned when it comes to the low adoption. Everywhere people who earn good to are into bitcoin usage whereas the rest just wish to invest, but they weren't able to do it for different reasons. As said in one of the quote, half the world population is living with an earning of less than a dollar. For them what we're talking about is far.

Even now the unbanked population around the globe counts in billion. We're talking about bitcoin which is beyond banking. In terms of getting adoptive to bitcoin is easier than banks. Banks are financial service providing centres where support is given by persons. With bitcoin it is the technology that need to be learnt. In different countries this will vary, and the third world countries mostly stay on the top. So many similar factors affect the worldwide adoption, and to this it'll take atleast 30 more years.

[OgNasty]

I think the main thing preventing adoption is that people are set in their ways and Bitcoin is new and scary.  A lot of people don't want the responsibility of having to safeguard their own coins, or even learn about the process.  They've heard horror stories about keeping funds on an exchange and don't trust themselves to store it themselves, so what are they to do?  Many people like this would likely only get exposure to Bitcoin through things like ETFs in their retirement accounts.  Over the years I've given friends quite a bit of BTC and it almost never fails that they lose their keys or some other thing that caused them to lose their Bitcoin.  The average person is definitely not ready to have their finances in their own hands...  There are still folks paying financial advisors to set their money in index funds...  People have a long way to go when it comes to financial knowledge and I don't see schools doing their part.  For this reason, I think it would realistically take generations before everyone got on board with cryptocurrencies. 

[Flexystar]

There is also one more reason behind this, blockchain is open and using the same technology every government is now trying to improve their own banking systems, trying mint their coins and what not. I think it’s disadvantage being the open source for blockchain and in the long run government correctly saw this opportunity to have their own assets but obviously centralised one.

The only upper hand they got is naming it as crypto currency and added the security policies as it’s government regulated.

This is obstacle for the main stream adoption of existing crypto. People still trust government and not public volatile unregulated coins.

[stomachgrowls]

There is also one more reason behind this, blockchain is open and using the same technology every government is now trying to improve their own banking systems, trying mint their coins and what not. I think it’s disadvantage being the open source for blockchain and in the long run government correctly saw this opportunity to have their own assets but obviously centralised one.

The only upper hand they got is naming it as crypto currency and added the security policies as it’s government regulated.

This is obstacle for the main stream adoption of existing crypto. People still trust government and not public volatile unregulated coins.

Not that truly and obstacle but you do really get some point though which is somewhat already anticipated that government wont really be just doing nothing without making their own.

Plus having that bad publicity of media towards crypto then it would really be adding up more on the possible slowdown of adoption/recognition but for people who are really making out
some in depth review and research would be the ones will able to see the beauty of decentralized crypto compared into these coins been made by government.
Yes, it could have some advantage in terms of being secured and monitored but we know on what its heavy cons.

[kaya11]

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.

A country without taxation is a weak country, tax is one of the major players running a country, if there is no tax then where would they get their funds to make roads and other facilities needed by the people? In some cases there are countries that have oil and other recourses but still the country has taxes. An example that country has a failure government is Somalia, there are warlords in there and if you tax them it would be your end. Also the money to support their army is from illegal activities such as mining, in some cases drugs and again it destroys the core of a country-it's people.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous.

Even if Bitcoin never existed, still these fraudulent activities are present. There are so many heist that happened and they have managed to get away with it. So it doesn't really matter whether crypto is available or not.

[tabas]

A mix of bad news about bitcoin and those scams that are happening in the altcoins kingdom as well. When people read news about "hack" in a defi or NFT. They'll include bitcoin as the major part of it so instead of going through with the news and read the entire information that it's a project hacked that's not related to bitcoin, people who don't understand cryptocurrencies will get to think that it's bitcoin that was hacked or at least part of it and that becomes a major concern and worry for them.

[laurenB7742]

Bitcoin remains to be adopted by every country in the world for various reasons. Here are my thoughts on why..

People want to control it, basically, one thing that supports this prevention is the strong desire to influence others.
The government plays a very delicate role in this regard.

You know, wealthy and powerful people have been ruling and exploiting this world from the very beginning, this is the eternal policy of the world. Those in power now will always want to control the weak. Bitcoin is something that has given people freedom from slavery, everyone can benefit equally here, and they can make themselves financially free.

But it poses a serious threat to the government and the conventional banking system. And you know they both survive based on the current banking system.

So it is understandable that people at the government level would not want Bitcoin to be adopted easily. They will always want to establish authority

[Viscore]

Agree wth the above, worldwide adoption is next to impossible when government doesnt like that to happen. Everyone may hope BTC will be adopted everywhere but government will also do everything to prevent. CBDC is coming, thats what they want whether we like it or not.

Not everyone can afford BTC. Even if its adopted widely, the poor will have a hard time owning BTC. You can't reason that they can buy $20 fraction of BTC when they don't even have a job. The option, memecoin 😅

As long as the government will not fully regulate the use of bitcoin, its worldwide adoption will always be impossible. The government controls the people, so whatever its rules and laws, people should always comply with it.

However, bitcoin is also hard to adopt because it also lacks the opportunities to spend it. Its hard to find physical stores that accept bitcoin, and so people always prefer to use fiat. And also, because of the fear and confusion of the people due to its price volatility, bitcoin makes it too hard to adopt.

[GeorgeJohn]

The aspect of government, i will say each country government have their method of governance, so since some countries had legalize the adoption of cryptocurrency that means it's base on the country principle in cryptocurrency and especially bitcoin what is really their views about bitcoin.

Some government seems cryptocurrency as avenue of extorting government financial project or budget, so in same vain, some people saw it as a means of involving into secret money laundering, which is embezzlement of fund's, and some government elements, the same time saw it like currency that can't be control by their sector or arms that can also disvalue fiat currencies.

so i think that should be one of the factor's that makes some country government intensively castigating and downgrading the potentiality of cryptocurrencies and especially bitcoin.

[franky1]

its YOU guys that are the ones saying bitcoin shouldnt/cant scale.. yet it can.
YOU guys are the ones that dont want bitcoin used for mainstream usage like buying a $3 product at a whim
YOU are the idiots that dont want bitcoin to grow. YOU are hindering bitcoin growth

Why don't you scale it? Take the damn code, make your edits and convince people to use it. Bitcoin Cash-ers did it, switch to it to avoid all this hustle and bustle. No... You'll stay, because there's something keeping you. Something unique, that you can't find it elsewhere.

To avoid any misunderstandings: I don't say that changing the block size is necessarily a bad decision; we may have to, in the far future. Understand that it's the imposing way you want to implement your proposal, that I disagree with.

im imposing it?
do you even know the word impose
(hint: put a restriction in place).. sorry but i suggest relaxing the restrictions..
im not the one ACK/Nacking commits on bitcoin cores github
but when you look at those that do ACK/NACK and then you look at their idea's of what and who and how much bitcoin should be used for. you can easily see which way they lean

your chums want to impose the limits and impose restrictions that people should not use bitcoin for daily use. yep you dont want people buying coffee on bitcoin(basically $3 amounts)
yep you dont want anyone in under-privileged countries where their entire days wages should not be used on bitcoin..

heres you saying that bitcoin cant go mainstream/global.. i excluded the part where you then advertised your altnet as the solution.. but by you just talking in a topic its obvious your altnet advert wil pop up somewhere in your posts

Buddy, transactions included into blocks can't handle the entire world for global adoption whether they extended the block size or not.

You can't really believe that broadcasting a transaction every time you want a coffee is a solution, because this isn't VISA. This is the Bitcoin network and decentralization costs.

The same people who believe in the so-called “global adoption” are the ones that see Bitcoin as a currency and believe in its “noble principles”. While I do get their enthusiasm, I think this is very much missing the point. Sad truth, but Bitcoin can't have a global adoption

i could quote many many more. and even quote your chums before you saying the same scripts you say word-for-word. but its easier for anyone that is interested to just look at your forum profile post history and do a simple search..

sorry but its your chums that are imposing, and not wanting to scale BITCOIN any time soon. all so that your chums can advertise some other network that people should move to first.

yep you love the idea of getting people to move to other networks, you and your chums very narrative every time is to not change bitcoin for the benefit of extending bitcoin use. but change it only to extend feature useful for other networks. and any changes that people do want on the bitcoin network. your narrative is to tell people to fork it off and start a new network and convince people to use it.

your narrative is not original and its not even your original mindset. you are just copying your chums narrative.
..
funny part is there are THOUSANDS of topics of people asking about "when will bitcoin go mainstream" and "how to scale BITCOIN" but only a dozen topics specifically about your altnet.
(even though you try to inject multiple advertisement attempts into many bitcoin scaling conversations)
..
you do not want value transactions of ~$3 even if it was one million people doing it once a week
you think anything of the price of a pizza($15) or a coffee($3) is not worthy of bitcoins utility.

yep thats YOU saying under-privileged countries daily wage for 10 hours labour is not good enough to be permitted in bitcoin.

but before finding some old script to recite..
take this one single thought.. and take some time to process it independently of what you think your chums want you to say..

what you see as being a single coffee.. 2 billion people in the world see as their daily/weekly salary
just take a long and hard thought about what you are proposing when you want to restrict usage of bitcoin
country             population      10 hours at $0.30c or less/hour
niger                24.5m            30c*10=$3
Mozambique     31.5m            28c*10=$2.80
kenya               53.7m           28c*10=$2.80
india                1.38BILLION  28c*10=$2.80
ghana              31m              23c*10=$2.30
uganda            45.7m            20c*10=$2.00
Bangladesh      164m             9c*10=$0.90
tanzania          59.7m             9c*10=$0.90

i didnt list them all. but maybe this will help you snap out of your script of thinking your impositions that restrict india's 1.3billion peoples daily use is something worth atleast thinking about

[Xal0lex]

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.

It is more profitable for most country to regulate bitcoin and create a regulatory and tax framework for it. But it is possible that many countries will start to create crypto-zones, separate localities where bitcoin works as a means of payment.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

Bitcoin is pseudo-anonymous, with scammers transactions monitored by special agencies and, if possible, pretsupniks. The last major case involved bitcoins stolen from the Bitfinex exchange.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

Bitcoin is not a stablecoin, it has no task to always be consistently evaluated. Historically, it is always growing.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

There is a huge amount of information on the Internet about how to properly dispose of bitcoin. The problem is not that people don't share information, the problem is that many people don't want to learn. They're just driven by the lust for profit. They don't care about the technology itself.

[Mauser]

Your 1. Point is the only real reason in my opinion why governments will not make bitcoins a legal tender all around the world. Politicians are usually in office 3-5 years and maybe get reelected afterwards. During that time politicians rely heavily on the control of money supply. In good economic times the budget is usually balanced and the country spends the same it generates through taxes. But there is usually no real surplus because why would the government reduce debt levels, just to help out future governments? It's better for them to make some tax cuts or give reliefs to some groups and guarante their votes for the next ejection. In bad economic times the government relies of printing new money, issuing new debt to cover any shortfalls. With bitcoins as the new legal tender all that wouldn't be possible again. There would be the need for a government to act much more financial prudent and long term orientated. For the people it would be a good thing, just not for the politicians. That's why they are trying so hard to limit and regulate crypto currencies heavily.

[hatshepsut93]

"Adoption" is a broad term, because there are many potential uses, and Bitcoin might not be used for them for separate reasons. Merchants don't adopt it because there not a lot of demand from their customers, because there's no clear legal framework, because fees can get high at certain times. 10 minute confirmation time can also be pretty annoying, so Lightning Network is needed, but it's not officially released yet. Private citizens or organizations don't adopt it as a store of value because it's very unpredictable in short term. Also it's a purely speculative asset, and many investors aren't comfortable with such assets. Black markets don't adopt Bitcoin because it's traceable.

[DanWalker]

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.

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.

[franky1]

now i got my rant over and done with. here is my experience from speaking to loads of people around the world and their reasons.

1. fee
its more then their hourly salary, they prefer to us m-pesa and other cheap/free payment transfers

2.chicken and egg
consumers have no local merchants to buy things so see no use-case.. merchants have no consumers asking for it so they see no use-case

3.altcoins are their prefered go to crypto because the onramp (cost to obtain(fee) and cost per unit of medium of exchange seems reachable)

4.hardly any care/talk about government involvement because they all know they can trade offline(face to face) and because they know government cant control bitcoin itself. only the exchanges.
yes people in india/africa(the two biggest population bases) dont care about the government law. people in india/africa still use CRYPTO.. its legal there, infact the CRYPTO market in india/africa is growing super fast.. but the bitcoin growth within that crypto is not growing as fast/same scale.
their main gripe is not the government. but instead that bitcoin fee's price them out of using it compared to using altcoins.

yep ill emphasise this.
governments have not banned crypto or bitcoin in the two largest population zones.. so that is not the reason those populations are avoiding bitcoin. the big reason people avoid bitcoin is because they prefer to use altcoins/altnets due to the fee

5. average joe does not see or read or care about the government stuff. yes MSB(money service businesses/providers) EG exchanges do care somewhat, but they see the crypto laws are the same as the standard fiat laws for MSB's so they dont see much of a problem because they know what to do already and are already setup to AML/KYC their customer because they are already providing their customers with fiat services as part of the exchange so are already doing it

as for mining:
6. heat and asic unit cost
its too hot in places like africa and india (too biggest world population bases) but they dont mine bitcoin because of the average climate temperature is not good for asics. and the cost of an asic unit is not within their wealth to spend to 'hobby mine' bitcoin.
and the electricity reliance is a factor. not all towns/villages have reliable continual electric

[GreatArkansas]

2. Scammers and fraudulent practices:
(....)

I believe this is the main reason also for me why Bitcoin is having difficulty for the world to adopt.
Especially in government, which there are some countries that are very strict when it comes to cryptocurrency, you will notice it in some countries, especially U.S, that's why also most of the cryptocurrency exchanges now are very strict, most of exchanges now got KYC verifications/AML verifications.

[franky1]

2. Scammers and fraudulent practices:
(....)

I believe this is the main reason also for me why Bitcoin is having difficulty for the world to adopt.
Especially in government, which there are some countries that are very strict when it comes to cryptocurrency, you will notice it in some countries, especially U.S, that's why also most of the cryptocurrency exchanges now are very strict, most of exchanges now got KYC verifications/AML verifications.

exchanges offering swaps for FIAT have always had AML/KYC
their business model has not changed or been hindered or altered at all. they have already had compliance officers and data mining analysts/algorithms from day one even before any crypto laws came into play

whats not said or thought about is years ago, hobbyists(no professional experience being an exchange prior) tried running 'boiler-room' scams. (black market exchanges) where they pretended(non-sense thought process) because part of a USD-BTC exchange involved BTC it absolved them of their fiat obligations/responsibilities. and so they didnt KYC thinking they were immune.
those silly exchanges either got shutdown or went legit, not due to any crypto laws. but because governments chased them for their fiat handling, using fiat laws set up decades ago

in 2014-2017 i seen alot of 'localbitcoin' operators either stop operating or start asking for KYC.. not due to any crypto laws but because the fiat laws they were ignoring were suddenly hitting them

[DooMAD]

im not the one ACK/Nacking commits on bitcoin cores github

Exactly.  And for some reason you're proud of your complete and total disregard of the process others choose to follow.  You don't even see how much your approach to this is holding you back and isolating you.  Despite how many times we've spelled it out for you.  But while you're just ranting from your soapbox and screaming into the void while no one listens to you, everyone else is actually working and being productive together.  

I'd bet "Doesn't play well with others" probably appeared on your old school reports a few times when you were a kid.  And you're clearly no better now.  "Collaborate" isn't in your vocabulary.  You think you can be part of a group whilst at the same time believing you can completely ignore the thoughts and opinions of every other person in that group.  Because only your thoughts matter.

You will always get left out.  Every time.  And you only have yourself to blame.  But you'll continue to lash out at others because you've convinced yourself it's their fault for not recognising your genius.

I think the main thing preventing adoption is that people are set in their ways and Bitcoin is new and scary.  A lot of people don't want the responsibility of having to safeguard their own coins, or even learn about the process.  

This rings true.  People are slow to change unless necessity compels them to.  The path of least resistance is to keep following old habits.  And those old habits have always centred around the conventional wisdom that you can trust banks to look after your money.  Yet, even when the global financial crisis gives the world undeniable evidence that they can't be trusted, people keep doing it anyway.  Because it's easier than taking personal responsibility and changing the way they do things.

[franky1]

the same idiots.. doomad oeleo blackhatcoiner. .. boring
all they want to do is say bitcoin is broke, too complicated, restricted, overreached by government. blah blah blah

all so that they can say their altnet is friendly, inviting and useful, sociable, blah blah blah..
yes i dont play with altnetters. and yes i do not fear calling out their crap and their propaganda

you may not like me. but i dont care. i am not trying to be your buddy.
i do not want to be in your group.
me being anti-social to your group is more about your groups motive. not my personality

i know you want some social hug of a certain group i know you want to recruit more people into your cult. i know you care more about collecting people up into a cultish altnet and never letting them escape. but thats your problem.

i already knew for years now you want to play the gold standard.. offer people IOU's with promises they can exit the IOU back to gold. ..but then make it too expensive to get the gold back and make it unattractive to use gold. its not an original idea you altnetters are playing

other people want BITCOIN to scale and grow.. not your altnet
so you play your little social games with your chums and happily hug and kiss them in your blissful ignorance.

meanwhile others will want to talk about BITCOIN adoption
yes go take your dozen altnet centric topics. to the altcoin category. while the rest of us where there are thousands of topics about BITCOIN continue talking about BITCOIN

you think only i want bitcoin to scale.. you are wrong i am not alone. i just dont fear your silly comments. i do not fear calling you out on your adverts

..
your the type of person that would happily kill someone if it benefitted you. and if someone else then tried to stop you or punched and handcuffed you for your actions. you would cry out that they are a socialpath for calling you out and trying to stop you. not even acknowledging that its your actions they are trying to stop because your the one doing more harm to the community

[BlackHatCoiner]

<Misleading nonsense>

Search my history, go ahead, I wonder where will that get you. Yeah, I've said that Bitcoin won't establish a global adoption, but there are reasons other than the block size, such as:

A lot of people don't want the responsibility of having to safeguard their own coins, or even learn about the process.

However, the block size is, indeed, another reason. Maybe increasing it a little bit won't harm, but it'll only blunt the scalability issue. It won't fix the problem entirely unless there's great percentage of decentralization sacrificed, which is why I propose second layer solutions. No need to start this debate, we all know how obnoxious you become when you talk to Lightning "fangirls".

I'd bet "Doesn't play well with others" probably appeared on your old school reports a few times when you were a kid.

Clearly their fault. He was willing to play with everyone, but they weren't eager to follow his rules.

you think only i want bitcoin to scale.. you are wrong i am not alone. i just dont fear your silly comments. i do not fear calling you out on your adverts

Dude, you're definitely not alone. But, there's this thing you've probably misunderstood called "consensus". Support Bitcoin Cash if you want big blocks, no problem. That's the beauty of forks after all. But, please, leave this community alone as the overwhelming majority doesn't agree with you. Dictating does not work in these systems.

[uneng]

Only one reason prevent people from adopting bitcoin: lack of curiosity and interest from average citizens for it.

Bitcoin is accessible to anyone since they have a mobile or desktop device with internet connection. Consequently, there aren't excuses to avoid bitcoin.

There are challenges, risks and dangers in crypto environment, like everywhere else. People just need to be careful and take care themselves on this universe, like they do on the streets, on their jobs, at the bank and so on... Scammers, regulations, volatility, misleading informations are part of our daily life and traditional fiat system. Still, you don't see people stopping dealing with fiat for these reasons, so why would they avoid bitcoin for the same reasons?

[Woodie]

I believe the first two of Government Policies and fraudulent practices are major contributors that discourage many users around the world from getting to use bitcoin. We have too many dishonest players that prey on other people's lack of knowledge on genuine cryptocurrencies that they scam them with fake bitcoins and investment scams promising to pay extra. But with time world adoption will be possible once this knowledge is out there.

[BitcoinMoses]

now i got my rant over and done with. here is my experience from speaking to loads of people around the world and their reasons.

1. fee
its more then their hourly salary, they prefer to us m-pesa and other cheap/free payment transfers

2.chicken and egg
consumers have no local merchants to buy things so see no use-case.. merchants have no consumers asking for it so they see no use-case

3.altcoins are their prefered go to crypto because the onramp (cost to obtain(fee) and cost per unit of medium of exchange seems reachable)

4.hardly any care/talk about government involvement because they all know they can trade offline(face to face) and because they know government cant control bitcoin itself. only the exchanges.
yes people in india/africa(the two biggest population bases) dont care about the government law. people in india/africa still use CRYPTO.. its legal there, infact the CRYPTO market in india/africa is growing super fast.. but the bitcoin growth within that crypto is not growing as fast/same scale.
their main gripe is not the government. but instead that bitcoin fee's price them out of using it compared to using altcoins.

yep ill emphasise this.
governments have not banned crypto or bitcoin in the two largest population zones.. so that is not the reason those populations are avoiding bitcoin. the big reason people avoid bitcoin is because they prefer to use altcoins/altnets due to the fee

5. average joe does not see or read or care about the government stuff. yes MSB(money service businesses/providers) EG exchanges do care somewhat, but they see the crypto laws are the same as the standard fiat laws for MSB's so they dont see much of a problem because they know what to do already and are already setup to AML/KYC their customer because they are already providing their customers with fiat services as part of the exchange so are already doing it

as for mining:
6. heat and asic unit cost
its too hot in places like africa and india (too biggest world population bases) but they dont mine bitcoin because of the average climate temperature is not good for asics. and the cost of an asic unit is not within their wealth to spend to 'hobby mine' bitcoin.
and the electricity reliance is a factor. not all towns/villages have reliable continual electric

Yes, I agree.

On top of that, Bitcoin is running by the Bitcoin profit mongers. Bitcoin supposed to more socially accesable and more beneficially to people. but at the moment only some big rich people buying some bitcoin and hoarding fot future profits.

Bitcoin need a good captain. Bitcoin is like big ship in the middle of a ocean where there are too many bitcoin shark trying to only profit themselves. This was not vision of the Bitcoin invention on the first place. Bitcoin price supposed to be $1 milllion after one decade. But I think, I must recite a magic spell to pust the Bitcoin Bull run faster. If some one can understand my point and join me to plan a strategical plan for bitcoin next stage then definitely it will enlarge the Bitcoin market and many unbanked people will start to invest in bitcoin and use it for making remitance transaction.


 

[freakerbythespeaker]

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.

2. aside from the fee cost.. lets take the 'blockchain size'
ethereum is younger yet it is 1tb blockchain, yet no one is crying about their utility causing problems. many many developers have done alot of things to add features to ethereum and make it useful for many things. yet certain people dont want people using bitcoin that is much older but under half the size. they dont want daily use, they dont even want majority to be full node network backbone nodes. they try to mis-inform people to be leacher nodes pretending to be seeder nodes of block data.  they want value locks and then playing around with other networks that dont have the same security as bitcoin

3. aside from the silly excuses of why certain people think bitcoin should not be used by the masses
lets take the altnet argument
there are multiple networks all trying to steal the user-base of bitcoin by calling their network bitcoin[something] whether its pegged networks/forked networks/ or just name fame stealing networks. this dilutes the userbase over multiple networks and makes less people use the actual bitcoin network.
many then lose faith in the actual bitcoin network due to issues with the pretend 'bitcoin' networks. giving the real bitcoin network a bad name,
yep certain people pretend to adore bitcoin while trying to say that bitcoin is broke and people should use something else.

if over 50% of the world cant see value in using bitcoin because the fee is over an hours labour, and the bitcoin developers dont want to actually make it cheaper but do false advertising like making older transaction formats 4x more expensive and then call their new feature a 3x discount(end result is overal fee is higher then before) then those developers have not made improvements to make it useful for the 'unbanked' populations.
if the overal only feature benefit of the same new feature is just to create a format that allows offramping to other networks. you start to see that certain people in the community dont want mass adoption of bitcoin.

[pakhitheboss]

I would say government policies are the main reason. I am from India and recently the government of Indian has passes a bill wherein 30% tax will be claimed by the government for every cryptocurrency transaction. This law came into existence from 1st of April and already local exchanges are reporting a steep decline in volume.

How harsh this tax law is for the community can be explained with this example. If a person buys $100 dollar worth of Bitcoin, the user then has to pay $30 as tax. If the user incurrs a lost of $10 over the  invested amount still taxable amount is $30.

[DooMAD]

the same idiots.. doomad oeleo blackhatcoiner. .. boring
all they want to do is say bitcoin is broke, too complicated,

Nope.  We're saying the fictional version of Bitcoin that only exists in your fractured mind would be far more broken than the entirely real and working Bitcoin we have now.  Your version will never exist, because even if you paid someone to code it for you, they'd get sick of you and your obnoxious, ego-maniacal bullshit in about five minutes and abandon the project.  And even if by some miracle you did somehow get it made, it would be shit and you'd be forked off.  So the only option left open to you is to spout nonsense from your soapbox and accuse everyone else of social drama because you are wholly impotent to enact change.

We like what's being made.  You don't.  We don't need to change course because we are getting what we want.  You claim you don't like where we're heading, but you won't change course.  Yet you keep talking like we are the crazy ones. 

now i got my rant over and done with. here is my experience from speaking to loads of people around the world and their reasons.

But you don't speak with people.  You speak at them.  And if we're talking about things that might be putting the public off, maybe we should consider the chance that one of those things is you.

It wouldn't surprise me if you approach these people and, without even being prompted, you just start blurting out all your delusions about "evil developers", "sinister cults" and your warped notions of what constitutes scaling and they politely stood there and listened, so you just naturally took it for granted that they agreed with you.  I bet the moment the conversation ended, they were just left thinking "I'm glad that fucking headcase is gone".  And then you report back here claiming you've championed the cause, when all you've probably done is made people think Bitcoin users are a bunch of raving wingnuts.  You're probably doing more harm to adoption than good.  If there is a chance you're scaring potential users away, maybe do us all a favour and don't speak to anyone else.  After all, totalitarians make for a poor ambassador for a project offering freedom.

[qwertyup23]

One of the biggest factors on what hinders BTC from worldwide adoption is the technology for it. Majority of the countries are below the poverty threshold, with third-world countries lacking the economic need for them to live. If BTC were to be adopted worldwide, then these people need the technology to transact, which is having at least a mobile phone for them.

Another thing that you mentioned are government policies and prohibitions. The government is obsessed with control- they need to at least know what we are doing and they also have to partake in their own regulations to see if something goes out of hand. That is why, some countries prohibit the utilization of cryptocurrencies due to the latter's freedom in transactions.

[franky1]

boring cries from the altnetter trying too hard to defend his altnet by pretending everyone wants it.
if they really wanted it. everyone would have been using it after 5 years of its existance. but instead there are more topics asking about bitcon adoption and bitcoin scaling not your sily altnet brand

your altnet does not even have a blockchain. it doesnt even use asics it does not have al the security features and audit trails that bitconi does several times an hour
it is nothing like bitcoin
bitcoin never leaves the bitcoin network. so what you are playing with are empty promises of millisats pretending to be bitcoin

understand how your network is different and stop pretending your network is bitcoin.

oh and before you highlight the non-privay nodes that are advertised.. yep your altnet doesnt offer privacy.
take a look at all them chaneels you are preparing to display as your evidence of your altnet adoption. and realise that there are businesses running upto 40+ nodes and within those nodes they are running loads of channels of their own balance
LNBIG(0-43+others)
bitrefill

your altnet is not full of millions of diverse independant people. its full of centralised sybil nodes running lots of channels to pretend they are busy, just playing pass the parcel to rebalance their quickly dropping liquidity. in a snowball affect

this topic is about bitcoin adoptiion. so please take your altnet rhetoric to another category.

[DooMAD]

altnetter
altnet
altnet brand
your altnet
your altnet
altnet adoption
your altnet

You're the only one who sees an altnet.  You are the one who needs to take your delusions elsewhere.  Preferably to a therapist so they can do a psych evaluation.

this topic is about bitcoin adoptiion. so please take your altnet rhetoric to another category.

My reply is on-topic.  Toxic elements claiming to represent the community might put new people off from joining.  Take this encounter for example:

I remember meeting this total loser once, who tried to tell me that he knew who satoshi was because he'd met him.  You know the type.  The really pathetic, socially inept ones who are so desperate for people to notice them that they can't help but make up what they believe to be a cool-sounding story just to get a little attention.  I certainly didn't bother wasting my time asking for proof.  I just mocked him relentlessly for a while until he finally snapped at me.  At which point I told them "Don't be such a lying sack of shit, then".  The best part was, he even tried getting the only friend he had in the room to ask me to leave.  But his friend just completely blanked him, because even they could tell what a lost cause he was.  It was glorious.  He soon went quiet after that.

 
That same guy also tried telling me the Bitcoin developers were tyrants and that elements of the community were some sort of dangerous cult who wanted corporate entities to take over.  If I hadn't already been an experienced user who could see right through their lies, it's possible I might have been fooled into thinking it would be better off to avoid getting involved.  I'd hate to think someone like that is travelling around the world trying to brainwash the unsuspecting masses.  What an absolute lunatic he was.

[Fortify]

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.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

These are my thoughts on what's preventing bitcoin from being adapted worldwide.

I think you're missing one key element to all of this: the capacity of the network to process transactions at a reasonable speed. There have been vast improvements since Bitcoin was first created but all cryptocurrencies are competing with traditional payment networks like Visa or even Paypal - who are able to process transactions instantly. On top of that, it seems that the higher the popularity of Bitcoin at any particular time, the longer it takes for transactions to go through because the miner processing has limited resources which do not grow or contract quickly to meet demand. This will always be a limiting factor in a proof of work environment.

[Kasabus]

Government policies and awareness IMO are the greatest challenges as to why we are not there yet.

Of course, governments would like something that they can control and easily monitor, so they will certainly stick with fiat and banks, and try to limit the usage of cryptocurrencies by imposing lots of regulations that does not benefit the user.

On awareness, not everyone has access to such information albeit the current technology that we have. Poverty still lingers on a huge percentage of the world, and with it comes poor education which hinders people's ability to grasp information more easily. Sure, they may have heard about bitcoin and all, but what do they do with the limited information that they have if they can't put two and two together in the end?

If the government will continue to see bitcoin as anti-fiat, then its adoption will be totally hard. There is no way that we can do without the government's approval, except from trading bitcoin as some of the governments are already supporting it. And with poor people who continue to have no good education and don't have access on internet, they will never know facts about bitcoin and this will be another factor why bitcoin won't be adopted easily worldwide.

[Sebas.tian]

I believe the first two of Government Policies and fraudulent practices are major contributors that discourage many users around the world from getting to use bitcoin. We have too many dishonest players that prey on other people's lack of knowledge on genuine cryptocurrencies that they scam them with fake bitcoins and investment scamms promising to pay extra. But with time world adoption will be possible once this knowledge is out there.

Exactly, many users are afraid of the government policies because government impose the policies to discourage many users from decentralized currency than to have more interest on centralized currency. Many countries has tested bitcoin,  both long term and short term investment that made them to believe on bitcoin, that very soon the world will adopt bitcoin to eliminate errors and reduce unemployment from the world.

Now that the reality of bitcoin has exposed fraudulent practices from the world, show that people will easily identify scammers and avoid them from the country. Bitcoin is well safe and secured which is the main reason the world will soon make it legalized to the world, to eliminate the hardship and delay in the  transaction system.

[AicecreaME]

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.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

These are my thoughts on what's preventing bitcoin from being adapted worldwide.

Great list you got there.

I agree with everything that you have listed most especially the first one. The government keeps on interfering with the mass adoption of bitcoin because bitcoin gives financial freedom to most, if not all, of their users. Bitcoin paves way to offer great opportunities such as it being an income generator, store of value, and mode of payment. Because it is decentralized, the transactions made inside the blockchain is totally out of reach of the government. They have no power over it, unlike those of that occur inside the centralized platforms.

I consider bitcoin as an eye-opener because most people have been enlightened by what the government and central organizations are doing on their funds, thanks to crypto. Personally, I know so many people that didn't really realize what their money can do for them because they trust the banks so much. Fortunately, crypto awareness has becoming a thing which is why most people are now knowledgeable about what banks do with their money, and about how little they make in storing their assets for long period of time in it.

In addition, crypto has given people opportunity to grow out of their comfort zone and to save for their future without worrying. That's why it's so saddening because the worldwide adoption is still far from happening due to the aforementioned reasons. Hopefully, in the near future, there will be more openness regarding this topic and the transition would be smoothly done.

[Nerdy doctor]

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.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

These are my thoughts on what's preventing bitcoin from being adapted worldwide.

Great list you got there.

I agree with everything that you have listed most especially the first one. The government keeps on interfering with the mass adoption of bitcoin because bitcoin gives financial freedom to most, if not all, of their users. Bitcoin paves way to offer great opportunities such as it being an income generator, store of value, and mode of payment. Because it is decentralized, the transactions made inside the blockchain is totally out of reach of the government. They have no power over it, unlike those of that occur inside the centralized platforms.

I consider bitcoin as an eye-opener because most people have been enlightened by what the government and central organizations are doing on their funds, thanks to crypto. Personally, I know so many people that didn't really realize what their money can do for them because they trust the banks so much. Fortunately, crypto awareness has becoming a thing which is why most people are now knowledgeable about what banks do with their money, and about how little they make in storing their assets for long period of time in it.

In addition, crypto has given people opportunity to grow out of their comfort zone and to save for their future without worrying. That's why it's so saddening because the worldwide adoption is still far from happening due to the aforementioned reasons. Hopefully, in the near future, there will be more openness regarding this topic and the transition would be smoothly done.

It would be amazing if adopted worldwide. Financial freedom with a wide range of opportunities. Cryptocurrency is the future and we should all start leaning towards it

[Ryu_Ar1]

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.

There are some rules that are different in each country. every government has the same goal basically they want to advance all forms of their prominence but must comply with the norms and rules that they make so as not to make them lose in the end.
Bitcoin is one thing that is independent and its existence will certainly be very disliked considering Bitcoin is something that is very difficult to control.
When they address it, there are actually 2 possibilities, the first is to make peace and go with the flow there as El-Savador and several other small countries are adopting now or are insisting on holding on to this like some big countries.
I think this is quite reasonable considering they want stability for their country with their own ways and rules but for bitcoin the rules will definitely be different because they will not get the authority there because of the decentralized nature of bitcoin

[Ale88]

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

Those two points are a major cause in my opinion. I would also add that buying a bitcoin is not exactly a straight forwarding thing to do since usually you have to open an account on an exchange, send the documents, wait to be verified, transfer the money and then decide where to store them. Many times when you explain to people all these steps, a lot of them immediately think it's too much effort. 

[DooMAD]

I would also add that buying a bitcoin is not exactly a straight forwarding thing to do since usually you have to open an account on an exchange, send the documents, wait to be verified, transfer the money and then decide where to store them. Many times when you explain to people all these steps, a lot of them immediately think it's too much effort. 

Then try providing them with the other methods of purchasing bitcoins.  You don't have to use exchanges.  If you're giving people the impression exchanges were the only option, then you're not explaining it correctly.

[darkv0rt3x]

I am one of those who believes the reason is political. People in our governments aren't stupid as most of us call them (or most of maxis and toxic maxis). We live in a predominant capitalist/socialist world and society where greed overwhelm most of our principles. A side from that, our governments, as socialist and capitalist driven, then know that a currency like Bitcoin will take away their power of controlling society and countries.

I don't believe this is more a conspiracy theory. When we think a bit about it, it's in fact the big enterprises/groups that control our politicians. Our politicians will act on what these companies needs, economically and financially speaking. Not the other way around.

When some banks or big companies are close to bankruptcy, what do our states do? Inject people's money on the allegation that if they don't do it, the country economy may collapse (real case in my country happened in the last 2 years with 2 companies, a bank and a air plane company called TAP).

Electricity companies and Oil companies will always be backed my politics, because they can easily disrupt a country's economy. Many times, CEOs and the big fish are close friends to politicians.

So, we and they know that, if Bitcoin would become mainstream and massively adopted, they would probably lose big part of this power.
For me, this is one of the main reasons. And the actual arguments used are all arguments that actually also occur with the current economic and financial models, so I think most of those arguments are not usable! Still they use them, such like scams, corruption, crime, risk, etc.

[Oasisman]

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

Those two points are a major cause in my opinion. I would also add that buying a bitcoin is not exactly a straight forwarding thing to do since usually you have to open an account on an exchange, send the documents, wait to be verified, transfer the money and then decide where to store them. Many times when you explain to people all these steps, a lot of them immediately think it's too much effort. 

That could be one on the many reasons, because people are usually kept their hands off to complex things such as creating a custodial wallet or exchange wallet as new crypto investors would always resort to such options as they see a lot of advertisement all over the social media.
But there is actually a few steps to purchase your own Bitcoin without using those services.
But then again, people will always have the first impression of purchasing Bitcoin to an exchange.

[BlackHatCoiner]

When we think a bit about it, it's in fact the big enterprises/groups that control our politicians. Our politicians will act on what these companies needs, economically and financially speaking.

And these groups' choices are made usually based on the people's interest. If the people start using Bitcoin then they have to adapt to it unless the "elite" are completely authoritarian. We see how China is constantly fighting it; it can't shut it down, so it tries to "shut down" every citizen's right to it.

In the west, things are less excruciating humanitarian-wise. The governments want to portray themselves as freedom seekers; at least in the economy. People have their right to speech and if they all started treating cryptocurrencies as money by tomorrow morning, I believe the government wouldn't have a choice other than to adjust.

The main problem is that this won't ever happen, because they perpetually brainwash you to feel you need them. There are other problems too, such as people don't understand money or don't care about it at all. Then, there's the internet propaganda that misleads the public, the fact that Bitcoin is a hard term to grasp etc.

Those are what's really preventing worldwide adoption, not the block size.

[kryptqnick]

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.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

These are my thoughts on what's preventing bitcoin from being adapted worldwide.

Op's thoughts on the reasons make some sense to me, but I don't fully agree. It's true that governments usually want to at least somewhat control the usage of cryptos when they start regulating cryptos, and imposing taxes is very common. However, I don't see it as an obstacle to BTC adoption, as long as the regulations are reasonable. As for #2, it's very common to focus on financial crimes when talking about cryptos, but the traditional market and currencies are still way more common when it comes to financial crimes, so it's framed as an obstacle to BTC adoption, while not really being so. Fluctuating value, misleading information and FUD are all legit and can put some people off.
I think that the scaling issue of Bitcoin also deserves to be on the list, and so does a global financial infrastructure which is resisting significant change and anything that can put its existence and operation in question.

[DooMAD]

We live in a predominant capitalist/socialist world and society where greed overwhelm most of our principles. A side from that, our governments, as socialist and capitalist driven, then know that a currency like Bitcoin will take away their power of controlling society and countries.

Either the words 'Capitalist' and 'Socialist' have had their meanings changed, or we've strayed from that path to a place where those concepts are no longer recognisable in our present governance.  I tend to see most Western governments as 'Crony Capitalism', which is rather different from "proper" Capitalism.  But I take your point.  Disrupting money would indeed disrupt power, because money has always been a system of control.  People tend to argue that we can change the world through better education, or forcing the media to be more responsible and honest in how they report current affairs and world events, but ultimately it always comes back to money.  Those who have vast sums of money make strategic donations to buy influence and generally get what they want, even if it's to the detriment of everyone else.

For a while, I thought there was a small chance for Bitcoin to disrupt the vice-like stranglehold which corporate lobbying has upon the world.  Although it looks like the potential for genuine reform is somewhat diminished from what I had hoped for.  Not least because I suspect most people can't even see that potential.  That, and I don't think the world is ready yet.  People want to complain about stuff, but the vast majority of them won't actually do anything about it.  Because they'd have to un-learn many of the habits they've spent a lifetime reinforcing.  And those habits are built around a total reliance upon systems of control.

[Ale88]

I would also add that buying a bitcoin is not exactly a straight forwarding thing to do since usually you have to open an account on an exchange, send the documents, wait to be verified, transfer the money and then decide where to store them. Many times when you explain to people all these steps, a lot of them immediately think it's too much effort. 

Then try providing them with the other methods of purchasing bitcoins.  You don't have to use exchanges.  If you're giving people the impression exchanges were the only option, then you're not explaining it correctly.

So tell me, where else would you bitcoin for the very first time? In an ATM on a public street? From some stranger paying cash? If you are new, whether you like it or not, buying from an exchange is still the safest way because nowadays exchanges are pretty much idiot proof, so it's very hard to lose your funds if you have a little brain. But again, if you have any other extremely simply solution that someone who never managed cryptos can easily follow, I'd like to know it

[BlackHatCoiner]

So tell me, where else would you bitcoin for the very first time? In an ATM on a public street? From some stranger paying cash? If you are new, whether you like it or not, buying from an exchange is still the safest way because nowadays exchanges are pretty much idiot proof, so it's very hard to lose your funds if you have a little brain.

Of course and you should use an exchange, but it doesn't have to be a centralized one. Use decentralized exchanges; there's no privacy invasion, no extraordinary fees, no KYC nonsense, no middlemen who own your money.

One with good reputation is Bisq.

[Gyfts]

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

The technical aspects of your argument may or may not be a hinderance, but most people would never get to that point because of the world wide poverty that exists for almost every country outside of Westernized developed countries. The goal for poverty stricken citizens is not to adopt a new currency or to invest for future wealth. Their vision does not extend that far. They live each day trying to get enough resources to have enough to eat.

Bitcoin isn't suppose to take people out of extreme poverty nor would it matter if the extremely impoverished adopted crypto. There isn't a large amount of wealth controlled by these folks. World wide adoption really only includes the major players, US + EU and China.

[wxa7115]

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

Those two points are a major cause in my opinion. I would also add that buying a bitcoin is not exactly a straight forwarding thing to do since usually you have to open an account on an exchange, send the documents, wait to be verified, transfer the money and then decide where to store them. Many times when you explain to people all these steps, a lot of them immediately think it's too much effort. 

Personally I think that another reason is that simply many people are not really ready to be completely responsible for their own money and they are afraid of something like bitcoin.

After all a huge deal of money is stolen from credit and debit cards all over the world, and those people depend on the banks to save them and recover their money, but this is not possible with bitcoin, so since people do not know how to take care of their coins I think that we are bound to see a massive amount of money being stolen if bitcoin was adopted massively, and then once they lose their money this way those people will criticize bitcoin for its inability to reverse transactions, even if that is a feature and not a bug.

[Lanatsa]

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

Those two points are a major cause in my opinion. I would also add that buying a bitcoin is not exactly a straight forwarding thing to do since usually you have to open an account on an exchange, send the documents, wait to be verified, transfer the money and then decide where to store them. Many times when you explain to people all these steps, a lot of them immediately think it's too much effort. 

That could be one on the many reasons, because people are usually kept their hands off to complex things such as creating a custodial wallet or exchange wallet as new crypto investors would always resort to such options as they see a lot of advertisement all over the social media.
But there is actually a few steps to purchase your own Bitcoin without using those services.
But then again, people will always have the first impression of purchasing Bitcoin to an exchange.

If you are that someone who isnt that tech savy or not really that much interested to new ideas and innovation then most likely you would really be ending up on having bad impression towards bitcoin.

You wouldnt tend to get engage to it since you do see that it might be that complicated on dealing thats why you do pass or skip which is a sad thing.There are people who are really having that curiosity which do really leads

to research out even more and its impossible for someone not able to learn yet its not really that requiring technical skills for you to get involved and learn with it.

[mildmanneredsuffering]

near criminal sawtooth market making algo. bitcoin is essentially always falling, interupted by short spikes to render the appearnce of gains. I repeat bitcoin is always falling until you sell

[nullama]

I think one of the things that will make Bitcoin more common worldwide is creators of goods and services offering them only through Bitcoin (or maybe with a discount incentive).

Here's one example:

If someone wants a design from him that person will have to pay with Bitcoin, making it a bit more common. If this is repeated all around the world, it will make Bitcoin being adopted worldwide.

[perfect999]

And these groups' choices are made usually based on the people's interest. If the people start using Bitcoin then they have to adapt to it unless the "elite" are completely authoritarian. We see how China is constantly fighting it; it can't shut it down, so it tries to "shut down" every citizen's right to it.

In the west, things are less excruciating humanitarian-wise. The governments want to portray themselves as freedom seekers; at least in the economy. People have their right to speech and if they all started treating cryptocurrencies as money by tomorrow morning, I believe the government wouldn't have a choice other than to adjust.

The main problem is that this won't ever happen, because they perpetually brainwash you to feel you need them. There are other problems too, such as people don't understand money or don't care about it at all. Then, there's the internet propaganda that misleads the public, the fact that Bitcoin is a hard term to grasp etc.

Those are what's really preventing worldwide adoption, not the block size.

China is fighting it because they want to have a complete control over their finances and economy, just like they want complete control over everything else in their nation. It's normal that nations like China would not like it, but what they are missing is that they could do a lot better in the long run.

If china used bitcoin as a weapon against the west they could have made a lot more money, make it a nationalized thing if you have to but not using it and completely banning it is a big problem. They could literally afford to build as many asic miners as they could, and mine majority of bitcoins and have a complete control, that would have given them so much power.

[franky1]

The technical aspects of your argument may or may not be a hinderance, but most people would never get to that point because of the world wide poverty that exists for almost every country outside of Westernized developed countries. The goal for poverty stricken citizens is not to adopt a new currency or to invest for future wealth. Their vision does not extend that far. They live each day trying to get enough resources to have enough to eat.

Bitcoin isn't suppose to take people out of extreme poverty nor would it matter if the extremely impoverished adopted crypto. There isn't a large amount of wealth controlled by these folks. World wide adoption really only includes the major players, US + EU and China.

you might want to try travelling some time.
in africa. they have dropped the government FIAT and mainly use cell phone credit as their currency. yep even poor people have phones and internet.
countries like africa by-passed dial-up landlines and basic ADSL and went straight to 4g-5g cellular internet which is far faster than landline dialup/ADSL

africa do not like african national currency, their 3 main currencies are mpasa, euro or dollar. they are definitely eager to find new financial solutions. especially ones that do the opposite to their hyper inflation national currency.

affricans love the idea of bitcoin. but hate the reality of the limitations that have been imposed onto it since 2015 by the developers.
(yep i said it and ill emphasise it. africans liked bitcoin in 2010-15, but started seeing issues with it after 2015 once the developer capitalists got involved and wanted to push out the "unbanked" portrayal of what bitcoin was made for)

i personally am british, i have a large hoard and self funded and self-sustained so my arguments about the unbanked and poor are not my own personal wishes. but wishes from the countries that have more population than US,UK, EURO combined. and yet its the US,uk, euro populations of developers and their sponsored corporations paying their salaries that are dictating the limitations of bitcoin so they can promote other networks/assets to get ROI on their "sponsor a dev campaign".

do you really think barry silbert((greyscale, aka blockstream) pumped over $XXm into the teams that developed the segwit offramp locks and the main LN devs, done so out of the kindness of the heart of wanting to make the bitcoin network grow.. nope. they wanted the locks and pegs so they can make other networks to offramp people off, so they can collect fee's/comission from these other network schemes
barry silbert didnt handout over $XXm for nothing. he wants ROI

..
as for your other paragraph
"Bitcoin isn't suppose to take people out of extreme poverty "
um.. you might want to find the white paper and use the "find" function in the browser and use the word "unbanked"
..
also.
because bitcoin is decided to assign itself to a dollar value. and then everyone convert that USD value to other fiat currencies using the silly forex, you start to see how other countries are less well off.

and you start to see how the fiat forex markets have decided to make an africans hours labour be treated as like 50cents .. you will find that.. on the balance of someones labour and how many loaves of bread, bags of rice he can buy locally.. (i mean basing 'value' of wealth on cost of living) if you took away the forex exchange rate and replaced it by a TRUE cost of living comparison. you will find that africa has more "wealth" than america.

yet the americans dominate
yep even in england.. our bitcoin exchange rates are not based on some completely separate market that has its own sentiment(reason for its own independant ). its actually just an arbitrage market order book following the USB market price.


yep lets take Us/China
it might look like on paper that US reigns supreme on GDP
but. if you took minimum wage units.. of both US and china.
and assigned that everyone got paid 1MWU. china would exceed by 5X
if you were to take chinas bread lof value and americas bread loaf value. and assigned that to peoples income to work out how many loaves of bread people can buy and how many total loaves the country has/needs based on common value.. again china would outpace america.

yet due to dirty number trickery, and cludgy maths. guess what it makes it look like america is supreme in every way becasue they de-base other currencies at forex level, to hide the true 'living value' wealth per country

[LUCKMCFLY]

For me, the only thing that prevents the adoption of BTC worldwide is the ignorance and fear that the media, governments and banks instill, just by saying that BTC is an asset that is very volatile and has no support. that they do not recommend because you know enough so that they do not do it.

Normally the masses discover the good things after the boom is over and they want to enter when it is too late, this is classic, the best thing is that everyone tries to educate themselves, I think that now the rhythm of life is changing, because people are more on the internet and they are looking for more jobs online and the BTC option appears, I think that there has been more demand in the market.

[molsewid]

For me, the only thing that prevents the adoption of BTC worldwide is the ignorance and fear that the media, governments and banks instill, just by saying that BTC is an asset that is very volatile and has no support. that they do not recommend because you know enough so that they do not do it.

Normally the masses discover the good things after the boom is over and they want to enter when it is too late, this is classic, the best thing is that everyone tries to educate themselves, I think that now the rhythm of life is changing, because people are more on the internet and they are looking for more jobs online and the BTC option appears, I think that there has been more demand in the market.

Also let's add the lack of proper knowledge aside from ignorance and fear of the media for preventing bitcoin from worldwide adoption. Well we don't really know the real reason why there still a huge hindrance for a worldwide adoption of bitcoin because each country and government has their own reason why they don't want to accept bitcoin. But what's the good thing about it is that the people accepting bitcoin as a whole without a proper recognition of the estate.

[retreat]

For me, the only thing that prevents the adoption of BTC worldwide is the ignorance and fear that the media, governments and banks instill, just by saying that BTC is an asset that is very volatile and has no support. that they do not recommend because you know enough so that they do not do it.

banks and governments control the media and pay for the media to continue to spread fear about the dangers of investing in crypto and they even try to impose high taxes on crypto users. if this continues only time can help so that BTC adoption can happen because what you say is true, nowadays people are already looking for income from online and BTC is the best and wisest choice right now.

[virasog]

For me, the only thing that prevents the adoption of BTC worldwide is the ignorance and fear that the media, governments and banks instill, just by saying that BTC is an asset that is very volatile and has no support. that they do not recommend because you know enough so that they do not do it.

banks and governments control the media and pay for the media to continue to spread fear about the dangers of investing in crypto and they even try to impose high taxes on crypto users. if this continues only time can help so that BTC adoption can happen because what you say is true, nowadays people are already looking for income from online and BTC is the best and wisest choice right now.

Media may be influential on people's decision of adopting and investing in crypto but the fact is that governments do not want that bitcoin and crypto is used by everyone.
If this happens they will lose control over the financial systems and the people in the government will never want this to happen.

[Nerdy doctor]

For me, the only thing that prevents the adoption of BTC worldwide is the ignorance and fear that the media, governments and banks instill, just by saying that BTC is an asset that is very volatile and has no support. that they do not recommend because you know enough so that they do not do it.

banks and governments control the media and pay for the media to continue to spread fear about the dangers of investing in crypto and they even try to impose high taxes on crypto users. if this continues only time can help so that BTC adoption can happen because what you say is true, nowadays people are already looking for income from online and BTC is the best and wisest choice right now.

Media may be influential on people's decision of adopting and investing in crypto but the fact is that governments do not want that bitcoin and crypto is used by everyone.
If this happens they will lose control over the financial systems and the people in the government will never want this to happen.

The media is very much likely influential on people's decision in adopting and investing in crypto. The could either give it a very bad image that would leave a negative impact on the minds of the populace. And yes, the government does not want to lose its hold over the finances of the nation. Control the flow of money in people's hands, control the people. That's what they want.

[wxa7115]

I think one of the things that will make Bitcoin more common worldwide is creators of goods and services offering them only through Bitcoin (or maybe with a discount incentive).

Here's one example:

If someone wants a design from him that person will have to pay with Bitcoin, making it a bit more common. If this is repeated all around the world, it will make Bitcoin being adopted worldwide.

I think offering discounts by using bitcoin is a way better option than to only accept payments in bitcoin, and the reason is simple, the purpose of any business whether it is big or small is to sell what they offer, by limiting yourself to only one currency you are bound to be relegated by a business that offers a product of similar quality but which accepts payments in several currencies.

However offering discounts when paying with bitcoin is a good idea, as this will make people to use bitcoin to buy what they want, and this will help bitcoin as well as right now it is mostly seen as a speculative asset when we know its main purpose is to be a form of money.

[Vaculin]

Agree wth the above, worldwide adoption is next to impossible when government doesnt like that to happen. Everyone may hope BTC will be adopted everywhere but government will also do everything to prevent. CBDC is coming, thats what they want whether we like it or not.

Not everyone can afford BTC. Even if its adopted widely, the poor will have a hard time owning BTC. You can't reason that they can buy $20 fraction of BTC when they don't even have a job. The option, memecoin 😅

Unless bitcoin will not be fully regulated, we can't expect for faster bitcoin adoption. I think it relies in the hands of the government the possible bitcoin future adoption. However, if by chance the government will change its perception about bitcoin, i guess everything else will follow. If the government demands for bitcoin adoption, all the barriers will definitely vanished. Because as clear as a crystal ball, the government can control the people's perception through social media, and everything is possible once the government demands it to happen.

[ChiBitCTy]

All of these points that you raise are certainly far and part of the reason why the world hasn’t completely adopted bitcoin yet, but I think the main reason is simply time. It’s going to take a lot of time for people to learn about bitcoin and how it works, for governments to place rules around it, as well for it to mature in and of itself in to a faster/cheaper/more efficient type of money system.

[worldtraveller321]

Well you have to realize people or more less the majority of the world population have used the current money system for a long time. Yet many people do not have any idea of how the money system works. More less this means it will probably not happen for the majority of the population to learn and understand more about a new money system at all.

It will be a few generations before Bitcoin or more less a new money system to happen.

[Marvell1]

For me, the only thing that prevents the adoption of BTC worldwide is the ignorance and fear that the media, governments and banks instill, just by saying that BTC is an asset that is very volatile and has no support. that they do not recommend because you know enough so that they do not do it.

Normally the masses discover the good things after the boom is over and they want to enter when it is too late, this is classic, the best thing is that everyone tries to educate themselves, I think that now the rhythm of life is changing, because people are more on the internet and they are looking for more jobs online and the BTC option appears, I think that there has been more demand in the market.

Also let's add the lack of proper knowledge aside from ignorance and fear of the media for preventing bitcoin from worldwide adoption. Well we don't really know the real reason why there still a huge hindrance for a worldwide adoption of bitcoin because each country and government has their own reason why they don't want to accept bitcoin. But what's the good thing about it is that the people accepting bitcoin as a whole without a proper recognition of the estate.

The root cause I think is still the government, the bank or the mainstream media are all under the control of the government so once the government doesn't like bitcoin, they won't dare to speak well of bitcoin.
Social networks and the internet are already very popular. Now if the government doesn't accept bitcoin, the only way is to hope that people will search and read the conflicting information and realize whether bitcoin is really good or bad. When get access to the truth, people will realize if bitcoin is really what the government is saying.

[Wexnident]

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?

[Anonylz]

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.

[DooMAD]

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.

[mildmanneredsuffering]

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

[e-lite.io]

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.

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.

[lionheart78]

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.

[rby]

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.

[bocyaj]

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.

[Finestream]

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.

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.

How the government's react to bitcoin, will always affect the people's concept about bitcoin. Because people are mostly reliable whatever the decision of the government. So if the government continues not to recognize bitcoin, negative concepts about bitcoin will always be around. However, if the government starts to acknowledge bitcoin and even regulate it, all the negativities about bitcoin will slowly be out in the context because the government can control it. So everything starts with the government, and bitcoin adoption greatly relies from the government's decision.

[dark1234]

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

[Scaterbrainn]

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.

[Abiky]

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

...

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

[Rigon]

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.

[noorman0]

-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.

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.

[e_abrams]

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.

[carlfebz2]

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.

Blame the government? Citizens would normally be having those kind of approach whether the gov't would take negative or positive or neutral stance about crypto.Thing here that whatever the government would

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?

[Wimex]

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

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?

[Renampun]

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).

[LUCKMCFLY]

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.

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).

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.

[bitzizzix]

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.

[macson]

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.

that's right, the government has the most important role in the mass adoption of bitcoin.  the government doesn't like bitcoin because it's something they have absolutely can't control over unless they just issue rules about the use of bitcoin.  but what i've noticed now is that many countries have started to soften with Bitcoin, they already seem to realize that bitcoin is more useful if made friends and not enemies.  mass adoption of bitcoin is certainly increasing.

[Quickset]

For a currency to be globally adopted, it has to be backed by a government. The problem is that Bitcoin doesn't have any government to back it up. It is just a bunch of computer code. This lack of government support is the reason why some countries are banning Bitcoins. Another issue is that it is not easy to use. This is because of the fact that the Bitcoin network is a peer to peer network. Each transaction is verified by a computer called a miner. This consumes a lot of processing power.

[mayfair_coin]

People are not quite aware of Bitcoin still in many backward countries and even dont know what crypto is and what are its benefits, and where Bitcoin is quite popular and  people are interested in investing or getting themselves involved in crypto, in that countries government plays a vital role in preventing the citizens  to get involved and adopt Bitcoin. They usually put heavy tax on crypto or make it completely illegal because they dont want people to get economically independent.Hackers have also found a new place to grow and double  their money knowing the fact that because of not as much of traffic is on cryptocurrency it is easy and safe for them to steal virtually and build their economy.
According to us these are some facts that are peventing Bitcoin to be adopted worldwide.

[Victorik]

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.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

These are my thoughts on what's preventing bitcoin from being adapted worldwide.

You thoughts are quite apt.
Indeed, government are always scared of what they can't control. Bitcoin being Decentralized makes it very difficult for them to control. Also, the anonymous nature of Bitcoin makes it very easy and secure for fraudster to use and get away with their crimes.
So, it will be difficult for all government to accept it, despite the growing popularity of Bitcoin.

[Chato1977]

What preventing people from adopting bitcoin is best to ask , and Yes we are need to help the Bitcoin guys , we are the one who are preventing the world to  from this adoption because if there are someone that must be actively advertising Bitcoin ? and that is US..

[KennyR]

The real adoption of bitcoin isn't happening around the world. What we see is the investment. According to the Wikipedia the population of the world is around 8 billion. Among that 160 million people use cryptocurrencies. This is very small and constitutes just 2% of the world population. As of now there is awareness and people are getting to know much about cryptocurrencies. It needs time for the real adoption we're talking about.

When big corporate networks starts accepting bitcoin it isn't an adoption, but a form of investment. Even among the people who hold cryptocurrencies, very small percentage use it whereas as the majority prioritise as investment.

[Nrcewker]

If i point directly to the title, then guess what many of us might know the correct reason for the cause.
The main reason for which Bitcoins aren’t adapted right now is the Government.
As Bitcoins are decentralised in nature, that is cannot control by any governing body, so the government hates Bitcoins.
Government always want to control each and every things in order to impose tax on it and earn money from it.
As they are unable to control Bitcoins so they don’t legalise it and therefore Bitcoins are not worldwide accepted .

[Jody.Drummer]

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.

Saying fear must have a reason there because it's impossible for someone to be afraid of something but they don't know what they are afraid of right.
Stigma against Crypto in some areas is considered one of the bad things with negative news there. when someone who is new to this, they are just starting to get to know but immediately filled with negative things, of course they will think again about it because it is impossible for them to want something that is risky for their financial future.
There needs to be more knowledge about this because it is true that being here is full of risks but when you do it in a good way then there will be no problem with it

[RealMalatesta]

For a currency to be globally adopted, it has to be backed by a government. The problem is that Bitcoin doesn't have any government to back it up. It is just a bunch of computer code. This lack of government support is the reason why some countries are banning Bitcoins. Another issue is that it is not easy to use. This is because of the fact that the Bitcoin network is a peer to peer network. Each transaction is verified by a computer called a miner. This consumes a lot of processing power.

I do not think that we need governmental help. I mean it would be great if it happens but we do not "need" it, it is good to have and nothing more. There are also some governments that back it up as well, so it is not really that much of a big deal, it is going to be something special when big nations back it up and the price will go up and that's understandable, the adoption will go through the roof when that happens.

So, you are sort of right but it is not a "must" that's what I want to say. Obviously if we do not get any backing at all, just regular laws, like exactly like this, no bans or anything then we could still reach to a global adoption level over course of many years anyway, it will just take longer.

[batang_bitcoin]

The main reason for which Bitcoins aren’t adapted right now is the Government.

I second that. Because the governments, they're looking at bitcoin as something that's negatively used and they don't control and power over it.
That is why those people that are still trying to learn about it won't get into it because of what the other governments are telling and describing it.
Anyway, many of them are also joining and adopting it so no matter what the other countries' decisions, many are starting to like it because that bad perspective is being switched.

[Yamifoud]

snip...

I do not think that we need governmental help. I mean it would be great if it happens but we do not "need" it, it is good to have and nothing more. There are also some governments that back it up as well, so it is not really that much of a big deal, it is going to be something special when big nations back it up and the price will go up and that's understandable, the adoption will go through the roof when that happens.

Some government leaders had already realized the value and importance of crypto in today's era, they'll somehow have seen that the use of crypto makes people's lives more comfortable than the use of fiat money. It was certainly visible and I believe their strong support helps the market adoption grow as people will see assurance which is one of the things to consider. The government really has the influence that surely bumps the market once publicly announced.

[fara_buduk]

in essence bitcoin crypto does not need government support to develop but sometimes it is government rules that make bitcoin isolated in the country to run therefore bitcoin and crypto only need permission and if permission is given it is clear that taxes will be enforced by the government here can be outlined that bitcoin will indirectly support the government in obtaining state revenue

[Issa56]

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.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

These are my thoughts on what's preventing bitcoin from being adapted worldwide.

From my experience I believe government policies is one of the thing slowing down bitcoin mass adoption, in most countries governments are not really in full support of bitcoin which is affecting mass adoption. Secondly awareness, in my country their are still some people that don't know anything about bitcoin, some have not even heard about bitcon so I believe bitcoin really need more awareness.

[kawetsriyanto]

The main reason for which Bitcoins aren’t adapted right now is the Government.
As Bitcoins are decentralised in nature, that is cannot control by any governing body, so the government hates Bitcoins.

Cannot say it is the main factor, but surely one of the biggest factors.
Government has a big role to control everything in a country. Without permission from the government, Bitcoin adoption will be difficult to be massively. We must have many restrictions when the government states "every activity related to Bitcoin is illegal". However, the government cannot stop Bitcoin adoption, people can freely access the internet at any time, and the government has no ability to stop the access.

[justdimin]

I disagree with the fourth and the fifth points that you made. Talking about the fourth point you made which is – lack of awareness, a lot of effort has already been put into creating awareness for Bitcoin and I don’t think that’s a problem to the adoption of Bitcoin currently. Anyone who is not choosing to invest in Bitcoin is not because of awareness.

There are steady adverts about Bitcoin and other cryptocurrencies online on social medias and the internet as a whole. Bitcoin trended on Google several times as the list searched word, you would also see movies about Bitcoin and where it’s being mentioned, and you likely would come across people talking about it. So don’t say there are no awareness, there is, just that people don’t want to adopt, maybe due to other factors. And also know that bitcoin is not meant for everyone.

Lastly, as for information hoarding, there are already lots of articles that properly explains whatever information you need, which is why you shouldn’t rely on one source, always get information from different sources to be hundred percent certain.

[RyanSmith23421]

I feel like besides the governments policies and laws, it has to do a lot with the industry BTC is... it's like gambling, if you think about it, it's pretty shady and everyone is exposed to getting scammed

[alik111]

I think Bitcoin isn't centralized and if someone use Bitcoin for money laundering or for any type of crime we cannot actually trace who is the criminal.So it has many facilities which isn't suitable for a government. That's why it's preventing Bitcoin from adoption.

[RyanSmith23421]

I feel like besides the governments policies and laws, it has to do a lot with the industry BTC is... it's like gambling, if you think about it, it's pretty shady and everyone is exposed to getting scammed

[dunfida]

I feel like besides the governments policies and laws, it has to do a lot with the industry BTC is... it's like gambling, if you think about it, it's pretty shady and everyone is exposed to getting scammed

Government regulation and laws would be the big hindrance or blockage on overall adoption but we know that not every government would have the same decision but most of them would really be on that banning side.

Aside from government, lets talk about people awarenesss and and knowledge about things like bitcoin because we know that not all would really be that knowledgeable when it comes to it.
Lets just wait for overall recognition and acceptance or people to be aware about it existence and dont make yourself stressed out.

[Nerdy doctor]

I disagree with the fourth and the fifth points that you made. Talking about the fourth point you made which is – lack of awareness, a lot of effort has already been put into creating awareness for Bitcoin and I don’t think that’s a problem to the adoption of Bitcoin currently. Anyone who is not choosing to invest in Bitcoin is not because of awareness.

There are steady adverts about Bitcoin and other cryptocurrencies online on social medias and the internet as a whole. Bitcoin trended on Google several times as the list searched word, you would also see movies about Bitcoin and where it’s being mentioned, and you likely would come across people talking about it. So don’t say there are no awareness, there is, just that people don’t want to adopt, maybe due to other factors. And also know that bitcoin is not meant for everyone.

Lastly, as for information hoarding, there are already lots of articles that properly explains whatever information you need, which is why you shouldn’t rely on one source, always get information from different sources to be hundred percent certain.

I still think not nearly enough awareness is made in revealing the possibilities that bitcoin entails. There are still lots of people who aren't privy to have means and sources of information that you do and very ignorant about bitcoin. There are adverts and movies about bitcoin which would catch ones interest but then being ignorant, foolish decisions would be made.
And I'm more determined on my thoughts on information hoarding. Someone on here wrote that people hoard information cause information is valuable. I pondered on that and realized that it's true. People do hoard information

[Slimzeee]

With all being said. I believe government policies play a lot of role. The government want to control everything, task, inflation, deflation, cost of good.. all for their personal advantages. So the idea of decentralized finance is more like a nightmare to them..

[mayax]

BTC is TOO complicated for most of the people. BTC is just a niche and it will remain like that.

[Oceat]

With all being said. I believe government policies play a lot of role. The government want to control everything, task, inflation, deflation, cost of good.. all for their personal advantages. So the idea of decentralized finance is more like a nightmare to them..

Exactly! That's why Banks are making a lot of regulations since they can't stop someone from using Bitcoin they just want to coexist with it and the community. They can't do anything about it even if they put some restrictions since Bitcoin isn't controlled by someone that's why coexisting with it is the only choice to continue the cash flow.

We can't tell anything about it yet but El Salvador is the best example for a whole country using Bitcoin.

[Vaskiy]

With all being said. I believe government policies play a lot of role. The government want to control everything, task, inflation, deflation, cost of good.. all for their personal advantages. So the idea of decentralized finance is more like a nightmare to them..

Exactly! That's why Banks are making a lot of regulations since they can't stop someone from using Bitcoin they just want to coexist with it and the community. They can't do anything about it even if they put some restrictions since Bitcoin isn't controlled by someone that's why coexisting with it is the only choice to continue the cash flow.

We can't tell anything about it yet but El Salvador is the best example for a whole country using Bitcoin.

The story with El Salvador is different, because it was relying on USD for all their economic requirements. If they've had a national currency surely they would've made some other plans. Another thing is it's population which is quite simple to keep things under control, even if the price of bitcoin turns highly volatile. In a country like India such thing will surely make a big disturbance in the economy. In my view, there is more good and some problems which arises out of adoption that needs to be handled precisely. Only then the adoption will be effective.

[jaberwock]

If i point directly to the title, then guess what many of us might know the correct reason for the cause.
The main reason for which Bitcoins aren’t adapted right now is the Government.
As Bitcoins are decentralised in nature, that is cannot control by any governing body, so the government hates Bitcoins.
Government always want to control each and every things in order to impose tax on it and earn money from it.
As they are unable to control Bitcoins so they don’t legalise it and therefore Bitcoins are not worldwide accepted .

What kind of legalization from the government are you talking about ? If the government should make it a legal tender just like El Salvador did, maybe it might aid in the adoption, although I am not sure about that. Then if they should legalized it as an asset that people can buy and sell, but not used for transaction as a legal tender, I don’t think that would do more than what has already been done. And I believe that already in many countries Bitcoin is legal as an asset that people can buy and sell. Let’s just hope for more adoption.

[DOH!]

I think there are many reasons why bitcoin is not yet widely legalized around the world.  Central bank is the tool of the government in controlling the currency, they understand it well but with bitcoin they never understood.  In most cases where bitcoin is used, there are several places where bitcoin is used and accepted as legal.  That's not necessarily a basis for considering the integrity of a uniform regulation, but I wouldn't have expected it. Because Do they not realize their own mistakes?  in other words they are not ready for it

[ReiMomo]

I think there are many reasons why bitcoin is not yet widely legalized around the world.  Central bank is the tool of the government in controlling the currency, they understand it well but with bitcoin they never understood.  In most cases where bitcoin is used, there are several places where bitcoin is used and accepted as legal.  That's not necessarily a basis for considering the integrity of a uniform regulation, but I wouldn't have expected it. Because Do they not realize their own mistakes?  in other words they are not ready for it

Yah the government is seen the biggest block for adaption. Government feels, adapting bitcoin might bring down the value of local currency and other assets growth as well. Bitcoin is dominating currencies, assets like gold and real estates. Mainly banks are the ones, fights against bitcoin with government. But slowly the percentage of adaption is increasing if you look at the current ratio compared to 3 or 5 years back. The recent ATH of Bitcoin has brought in many investors and knocked the door of governments.

[Rockstarguy]

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

The fluctuations of value is one of the things that makes bitcoin to be quality and important,  if bitcoin should be stable in value it won't be serving the purpose of being a digital currency,  when the prices falls down it gives people the opportunity for them to buy bitcoin and wait till when it rises for profit.  The fluctuations of bitcoin is one of the quality why bitcoin is better than fiat,  I don't see the fluctuations of bitcoin as a challenge  to the world.

[Abiky]

Government regulation and laws would be the big hindrance or blockage on overall adoption but we know that not every government would have the same decision but most of them would really be on that banning side.

Aside from government, lets talk about people awarenesss and and knowledge about things like bitcoin because we know that not all would really be that knowledgeable when it comes to it.
Lets just wait for overall recognition and acceptance or people to be aware about it existence and dont make yourself stressed out.

Governments are the ones usually spreading misinformation in order to drive people away from crypto as much as possible. That and also the price volatility, makes many people avoid Bitcoin in the first place. I think crypto is still in its very beginnings. We should wait 1-2 more decades in order to see how much people worldwide will adopt Bitcoin for their own benefit. I'm pretty sure adoption will be much bigger in the future than what it is right now, as crypto/Blockchain's popularity increases at a very fast pace. What matters is that Bitcoin stays alive in order to provide us with true financial freedom. As long as decentralization is put first, there should be nothing to worry about. Just my thoughts

[Oceat]

With all being said. I believe government policies play a lot of role. The government want to control everything, task, inflation, deflation, cost of good.. all for their personal advantages. So the idea of decentralized finance is more like a nightmare to them..

Exactly! That's why Banks are making a lot of regulations since they can't stop someone from using Bitcoin they just want to coexist with it and the community. They can't do anything about it even if they put some restrictions since Bitcoin isn't controlled by someone that's why coexisting with it is the only choice to continue the cash flow.

We can't tell anything about it yet but El Salvador is the best example for a whole country using Bitcoin.

The story with El Salvador is different, because it was relying on USD for all their economic requirements. If they've had a national currency surely they would've made some other plans. Another thing is it's population which is quite simple to keep things under control, even if the price of bitcoin turns highly volatile. In a country like India such thing will surely make a big disturbance in the economy. In my view, there is more good and some problems which arises out of adoption that needs to be handled precisely. Only then the adoption will be effective.

But I doubt that would be handled to almost every country since every country has different views about the crypto currency. I don't know if in the future what you've said would soon come true because the way I see how some countries treat Bitcoin is different. Some may treat it as a threat, some may see it as an opportunity, and some will still have a doubt no matter what you feed to them the facts.

[ivankoh]

Bitcoin was not born just to be a tool for government control.  The government wants to understand how bitcoin works and tries to control it like other centralized instruments like central banks.  Bitcoin's decentralization may be the biggest hurdle, but in reality, does anyone doubt or hope that bitcoin will be legalized worldwide soon?  literally I wasn't expecting much.  Lol

[jaberwock]

BTC is TOO complicated for most of the people. BTC is just a niche and it will remain like that.

This is true but only for those who are totally uneducated or the person that cant read and write but to someone that already have a basic knowledge or is educated, it's possible for them to understand bitcoin. All of us that here in bitcoin now are once a newbie too, we think bitcoin is too complicated but that doesn't stop us. Something tells us that we need to learn bitcoin because it can help us.

Those who are now successful in btc are lucky to follow their dreams while for others it still not too late for them to learn bitcoin even though bitcoins value is already huge and the adoption is already high because there's still more to come.

[Oasisman]

I think there are many reasons why bitcoin is not yet widely legalized around the world.  Central bank is the tool of the government in controlling the currency, they understand it well but with bitcoin they never understood.  In most cases where bitcoin is used, there are several places where bitcoin is used and accepted as legal.  That's not necessarily a basis for considering the integrity of a uniform regulation, but I wouldn't have expected it. Because Do they not realize their own mistakes?  in other words they are not ready for it

Yah the government is seen the biggest block for adaption. Government feels, adapting bitcoin might bring down the value of local currency and other assets growth as well. Bitcoin is dominating currencies, assets like gold and real estates. Mainly banks are the ones, fights against bitcoin with government. But slowly the percentage of adaption is increasing if you look at the current ratio compared to 3 or 5 years back. The recent ATH of Bitcoin has brought in many investors and knocked the door of governments.

Are you sure its the government who's the biggest blocker for Bitcoin mass adoption?
How about scam projects? false propaganda? If you watch movies with Bitcoin featured on it, they are always portrayed negatively like it's used for criminal and illegal purposes.
There are also these people who is afraid of Btc's high volatility and refused to understand the concept of cryptocurrency.

IMO, it's not just the government who's preventing further mass adoption, but it's also the people.

[DooMAD]

There are also these people who is afraid of Btc's high volatility and refused to understand the concept of cryptocurrency.

IMO, it's not just the government who's preventing further mass adoption, but it's also the people.

Absolutely.  There are still a vast number of people who feel like they have enough financial "freedom" already, simply because the banks haven't screwed them yet.  They don't recognise any importance in censorship-resistance or immutable ledgers.  They can only see Bitcoin as a speculative asset and nothing more.

I'm hoping that with inflation getting as bad as it is in many places, more people may start to recognise the aspect of predictable and finite supply enshrined at the heart of Bitcoin.  Weakening purchasing power due to inflation is something which will increasingly affect the average person.  Perhaps we need to place a bigger emphasis on that part?

Less talk of "Lambos" and "Moons", more on cost-of-living increases and what can be done to alleviate it.

[Argoo]

I think the main thing preventing adoption is that people are set in their ways and Bitcoin is new and scary.  A lot of people don't want the responsibility of having to safeguard their own coins, or even learn about the process.  They've heard horror stories about keeping funds on an exchange and don't trust themselves to store it themselves, so what are they to do?  Many people like this would likely only get exposure to Bitcoin through things like ETFs in their retirement accounts.  Over the years I've given friends quite a bit of BTC and it almost never fails that they lose their keys or some other thing that caused them to lose their Bitcoin.  The average person is definitely not ready to have their finances in their own hands...  There are still folks paying financial advisors to set their money in index funds...  People have a long way to go when it comes to financial knowledge and I don't see schools doing their part.  For this reason, I think it would realistically take generations before everyone got on board with cryptocurrencies. 

Yes, in general you are right. To work with cryptocurrency, you need certain knowledge in this area. However, it is not enough just to learn how to work with cryptocurrency. You also need to be able to protect yourself from hackers and scammers, be able to avoid numerous mistakes that are often made by inexperienced and inattentive users. In addition, the cryptocurrency continues to develop very rapidly. Coins and tokens, according to the decision of the project team, often move to other platforms, other actions are performed, and you need to constantly monitor this and be aware of all changes, otherwise only useless numbers and symbols may remain from coins and tokens.
Many people are either too busy with other daily activities, or simply lazy. This explains why many are in no hurry to use cryptocurrency, despite its obvious advantages.

[dataispower]

Bitcoin was not born just to be a tool for government control.  The government wants to understand how bitcoin works and tries to control it like other centralized instruments like central banks.  Bitcoin's decentralization may be the biggest hurdle, but in reality, does anyone doubt or hope that bitcoin will be legalized worldwide soon?  literally I wasn't expecting much.  Lol

Bitcoin received several attack by the government because no relative showing between government and bitcoin. When you check it is few countries that welcomed bitcoin as a legal tender because of the it appreciation in it currency. second point. I don't believe will be legalize in every country for now. Maybe when the time goes bitcoin will add more firm and every country will be surrounded by it value and adoptions. But seeing the counterbalance in bitcoin with government i don't think worldwide adoption will happen ten years later

[erep]

Bitcoin received several attack by the government because no relative showing between government and bitcoin. When you check it is few countries that welcomed bitcoin as a legal tender because of the it appreciation in it currency. second point. I don't believe will be legalize in every country for now. Maybe when the time goes bitcoin will add more firm and every country will be surrounded by it value and adoptions. But seeing the counterbalance in bitcoin with government i don't think worldwide adoption will happen ten years later

Bitcoin adoption is getting higher because some countries have changed crypto legalization regulations to confirm Bitcoin as legal tender, so Bitcoin adoption in a country takes time to research and adjust the understanding of many people about cryptocurrency, that the government needs to add cryptocurrency material in school and university curricula if the government make plans to realize the legality of Bitcoin as a legal tender in the future.

[Dunamisx]

Bitcoin received several attack by the government because no relative showing between government and bitcoin. When you check it is few countries that welcomed bitcoin as a legal tender because of the it appreciation in it currency. second point. I don't believe will be legalize in every country for now. Maybe when the time goes bitcoin will add more firm and every country will be surrounded by it value and adoptions. But seeing the counterbalance in bitcoin with government i don't think worldwide adoption will happen ten years later

Bitcoin adoption is getting higher because some countries have changed crypto legalization regulations to confirm Bitcoin as legal tender, so Bitcoin adoption in a country takes time to research and adjust the understanding of many people about cryptocurrency, that the government needs to add cryptocurrency material in school and university curricula if the government make plans to realize the legality of Bitcoin as a legal tender in the future.

This does not really work out in changing people's mind to the adoption of bitcoin, perhaps if this could have been the major reason then the adoption would have gone wider than this, government are not taking the regulation with leniency at all, only in few cases you see the government providing suitable regulation on crypto without considering their own interests first, how many schools have yet started the taught of cryptocurrency? another means government have device is through the creation of CBDC in other to tackle bitcoin, i see government as the major factor affecting bitcoin from global adoption.

[Joshapat]

I think the biggest obstacle today is the number of countries that are still banned bitcoin, Bitcoin is currently only legalized in a few countries and most countries choose neutral, but in my country have implemented taxes on several local trading sites so that the direction of my government will likely legalize Bitcoin and Cryptocurrencies

[D ltr]

From what the op mentioned, I agree and if I may add, the income level of each country is different, not to mention there are many poor countries.
decentralized nature of bitcoin, difficult to control by government so they don't legalize it and therefore Bitcoin is not accepted worldwide

[Cling18]

I think the biggest obstacle today is the number of countries that are still banned bitcoin, Bitcoin is currently only legalized in a few countries and most countries choose neutral, but in my country has implemented taxes on several local trading sites so the direction of my government will likely legalize Bitcoin and Cryptocurrencies

If only more countries would legalize Bitcoin instead of banning it, more adoptions will happen. The government is just afraid of Bitcoin as a decentralized currency simply because they couldn't regulate it so there will surely be authorities who will show disagreement with its legalization. However, I still believe that there will be more countries that would adopt and value it as a currency in the future.

[LUCKMCFLY]

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.

Yes, in part the culprits are the governments, but the main culprits are the same people of the towns who get carried away by what their rulers say, I do not know if it is the culture of each country or of each person in a developed country or no, but particularly one must learn to be a little more dissuasive, that is, not to believe everything that the banks and governments want, they will always worry about obtaining their interests in a liquid way regardless of going over the needs of others .

I am one of those who think that the biggest problem for non-adoption for BITCOIN is the acceptance and ignorance and resistance to saying no to bitcoin from the same people.

[SirLancelot]

To work with cryptocurrency, you need certain knowledge in this area. However, it is not enough just to learn how to work with cryptocurrency. You also need to be able to protect yourself from hackers and scammers, be able to avoid numerous mistakes that are often made by inexperienced and inattentive users. In addition, the cryptocurrency continues to develop very rapidly. Coins and tokens, according to the decision of the project team, often move to other platforms, other actions are performed, and you need to constantly monitor this and be aware of all changes, otherwise only useless numbers and symbols may remain from coins and tokens.
Many people are either too busy with other daily activities, or simply lazy. This explains why many are in no hurry to use cryptocurrency, despite its obvious advantages.

I agree with you that it is not that easy for regular people who have no idea about crypto or who are not tech savy to have problems saving their coins and put them in a secure place, but I believe that high level exchanges are not really that hard to work with. Like if they put their coins into Binance and Coinbase for example to start with and then gradually learn what to do later that would work.

I am not saying that it is the ideal spot, you may find more secure stuff, namely hardware wallets like ledger nano for example but you do not have start with that right of the bat. Learning about how you should trust the process and not get panic and keep your coins for a very long term is the real thing people should be careful about.

[suryana]

there are many things that prevent bitcoin from being widely adopted by various groups in the world, it can't be separated from several factors.especially bitcoin getting so much criticism and opposition in various circles that this also causes the bitcoin adoption process to be uneven.let alone big businessmen firmly reject the process of adapting bitcoin so that it affects quite broadly for various groups but we are very confident that bitcoin adoption will start to grow in the next few years

[zaesvlas]

At the very least, a very important and noticeable reason is popularity. I think many people, having heard about bitcoin, start working with it.

[Nerdy doctor]

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.

Yes, in part the culprits are the governments, but the main culprits are the same people of the towns who get carried away by what their rulers say, I do not know if it is the culture of each country or of each person in a developed country or no, but particularly one must learn to be a little more dissuasive, that is, not to believe everything that the banks and governments want, they will always worry about obtaining their interests in a liquid way regardless of going over the needs of others .

I am one of those who think that the biggest problem for non-adoption for BITCOIN is the acceptance and ignorance and resistance to saying no to bitcoin from the same people.

I agree that there are lots of ignorant people out there and people should think for themselves. Not too long ago, I also was very ignorant. I wouldn't put much blame on ignorant people. The government of any country would want to have as much control as it could muster.
People are afraid and hesitant to change and stray away from what is familiar and the government doesn't make it any easier.

[Abiky]

From what the op mentioned, I agree and if I may add, the income level of each country is different, not to mention there are many poor countries.
decentralized nature of bitcoin, difficult to control by government so they don't legalize it and therefore Bitcoin is not accepted worldwide

Exactly. Low level income is one of the main reasons why Bitcoin still hasn't been adopted massively by people worldwide. If you are poor, then how would you get access to Bitcoin in the first place? Third-world countries (with the exception of El Salvador) are stuck with Fiat because of limited access to the Internet and electronic devices. As long as Bitcoin remains an Internet currency, we won't be going nowhere in terms of mainstream adoption. Who knows if this no longer becomes an issue some point in the future? Just my thoughts

[LastKiss]

From what the op mentioned, I agree and if I may add, the income level of each country is different, not to mention there are many poor countries.
decentralized nature of bitcoin, difficult to control by government so they don't legalize it and therefore Bitcoin is not accepted worldwide

Exactly. Low level income is one of the main reasons why Bitcoin still hasn't been adopted massively by people worldwide. If you are poor, then how would you get access to Bitcoin in the first place? Third-world countries (with the exception of El Salvador) are stuck with Fiat because of limited access to the Internet and electronic devices. As long as Bitcoin remains an Internet currency, we won't be going nowhere in terms of mainstream adoption. Who knows if this no longer becomes an issue some point in the future? Just my thoughts

As far as I know, Internet become a lot cheaper than ten years ago. The reason why bitcoin is not worldwide adopted is that a lot of people don't understand what is bitcoin, how to use it, and even their knowledge about technology is pretty low. People who love the traditional way will stick to the traditional way but right now many young people understand the technology and know about Bitcoin, only a matter of time before the new generation will adopt Bitcoin on a large scale.

[Abiky]

As far as I know, Internet become a lot cheaper than ten years ago. The reason why bitcoin is not worldwide adopted is that a lot of people don't understand what is bitcoin, how to use it, and even their knowledge about technology is pretty low. People who love the traditional way will stick to the traditional way but right now many young people understand the technology and know about Bitcoin, only a matter of time before the new generation will adopt Bitcoin on a large scale.

Exactly. What's limiting adoption of Bitcoin worldwide is lack of awareness. There are so many people who haven't heard about or even used Bitcoin at all. The Internet is becoming widely accessible these days, especially with the launch of satellites across the globe. As time goes by, we'll become more interconnected as technology becomes an integral part of our everyday lives. If there's still a lot of people who haven't heard about Bitcoin, how do you expect to live in a cashless society?

I think we need to increase our efforts as a community by helping spreading the word about Bitcoin worldwide. The more people get into Bitcoin, the faster we'll be heading towards a cashless society. Maybe the mass adoption of Bitcoin will help reduce price volatility in the future? Just my thoughts

[TheGhostMan]

In my opinion Bitcoin has not yet been adopted by everyone by the same governments, the fact that it can not be controlled or regulated would form chaos for them, so I have seen that in some countries they want to incorporate virtual currencies but in their own way, in a way that they can handle this and not lose control and that is the well-known CBDCs,  I am not in favour of including this in countries, I'll always prefer Bitcoin, but I think that's why. Of course on the other hand in several places if they are implementing Btc as a legal currency, as in Honduras, the Salvador and there are more and more... maybe the idea of CBDCs will not end up convincing them and they think about Bitcoin, but I doubt it.

[Vaskiy]

World wide adoption of bitcoin for now is on the slower phase for different political and real-time reasons. With time this will change. However here and there more and more adoption and acceptance of bitcoin is happening that paves path for the future worldwide adoption. One such incident of recent days is the Argentina’s largest and second-largest private banks, Banco Galicia and Brubank allowing its customers to buy bitcoin and three other cryptocurrencies. This includes Bitcoin, Ethereum, USDC and XRP.

The bank have taken this decision after a poll that showed 60% of customers requested more access of cryptocurrency trades. It has got good adoption rate with 21% of people using cryptocurrencies by 2021. This move from the bank would help Argentina people to stay away from the inflation. Last month Sorradino, a town in Argentina purchased mining rigs and start mining operation and accumulate bitcoin to stay away from inflation.

[Kimonoe]

From what the op mentioned, I agree and if I may add, the income level of each country is different, not to mention there are many poor countries.
decentralized nature of bitcoin, difficult to control by government so they don't legalize it and therefore Bitcoin is not accepted worldwide

Exactly. Low level income is one of the main reasons why Bitcoin still hasn't been adopted massively by people worldwide. If you are poor, then how would you get access to Bitcoin in the first place? Third-world countries (with the exception of El Salvador) are stuck with Fiat because of limited access to the Internet and electronic devices. As long as Bitcoin remains an Internet currency, we won't be going nowhere in terms of mainstream adoption. Who knows if this no longer becomes an issue some point in the future? Just my thoughts

As far as I know, Internet become a lot cheaper than ten years ago. The reason why bitcoin is not worldwide adopted is that a lot of people don't understand what is bitcoin, how to use it, and even their knowledge about technology is pretty low. People who love the traditional way will stick to the traditional way but right now many young people understand the technology and know about Bitcoin, only a matter of time before the new generation will adopt Bitcoin on a large scale.

to transition to a development is not easy and this is felt also when fiat will replace the barter system, which takes time and pros and cons. Currently the internet is not a rare item, where children to adults can access it, and socialization is very important especially from the government, which can provide effectiveness for the development of mass adoption. but the problem is the ability of every country is not the same and bitcoin can not be controlled, where the most powerful can participate in controlling the price

[19Nov16]

Real adoption of bitcoin certainly requires a long process that requires large capital, only a strong financial company that can adopt Bitcoin, another thing that makes many companies doubt is that there are still many countries that are banned bitcoin so they are worried if they make the project then after completion but cannot be used because of the banned from the country.

[Abiky]

World wide adoption of bitcoin for now is on the slower phase for different political and real-time reasons. With time this will change. However here and there more and more adoption and acceptance of bitcoin is happening that paves path for the future worldwide adoption. One such incident of recent days is the Argentina’s largest and second-largest private banks, Banco Galicia and Brubank allowing its customers to buy bitcoin and three other cryptocurrencies. This includes Bitcoin, Ethereum, USDC and XRP.

The bank have taken this decision after a poll that showed 60% of customers requested more access of cryptocurrency trades. It has got good adoption rate with 21% of people using cryptocurrencies by 2021. This move from the bank would help Argentina people to stay away from the inflation. Last month Sorradino, a town in Argentina purchased mining rigs and start mining operation and accumulate bitcoin to stay away from inflation.

Couldn't agree more with you, mate. Slowly but surely, Bitcoin's adoption worldwide will increase as people try to find alternative ways to escape from inflation. The more worthless Fiat becomes, the more people will be inclined to Bitcoin. Governments are already seeing the benefits of holding Bitcoin in the long term, especially when it's designed with deflation in mind. If this keeps up, we might see the whole world using Bitcoin at a large scale (hyperbitcoinization). As long as decentralization wins in the long run, there will be nothing to worry about. Just my opinion

[Mauser]

In my opinion the biggest factor preventing a global adoption of Bitcoins are politicians. They are the ones who actually loosen or tighten regulation, and can make a real difference by having a second legal currency accepted in the whole country. The first step would be to remove the uncertainty in some countries. As long as there are no clear laws that protect investors from losing their coins, many will hold back money that they would invest otherwise in cryptos. Scammers are not such a big issue because they have been always around. In the past they focused more on scams using fiat money, or Internet gift cards. The success of crypto currencies is what brought Scammers into the crypto world.

[sovie]

In my opinion the biggest factor preventing a global adoption of Bitcoins are politicians. They are the ones who actually loosen or tighten regulation, and can make a real difference by having a second legal currency accepted in the whole country.

It's politicians or you may say the government, no matter which politician is in power they have same statement about bitcoin. When politicians are not in power they are pro crypto but when in government they are against it. Its very much clear now that the rivalry is because government have zero control over bitcoin. 

[LUCKMCFLY]

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.

Yes, in part the culprits are the governments, but the main culprits are the same people of the towns who get carried away by what their rulers say, I do not know if it is the culture of each country or of each person in a developed country or no, but particularly one must learn to be a little more dissuasive, that is, not to believe everything that the banks and governments want, they will always worry about obtaining their interests in a liquid way regardless of going over the needs of others .

I am one of those who think that the biggest problem for non-adoption for BITCOIN is the acceptance and ignorance and resistance to saying no to bitcoin from the same people.

I agree that there are lots of ignorant people out there and people should think for themselves. Not too long ago, I also was very ignorant. I wouldn't put much blame on ignorant people. The government of any country would want to have as much control as it could muster.
People are afraid and hesitant to change and stray away from what is familiar and the government doesn't make it any easier.

What happens is that most of the media when they talk about Bitcoin they do it in a derogatory way and the economists who are in the big media outlets, like CNN and some others who are quite relevant in the lives of people with say that BTC is a very high risk investment and that it has a lot of volatility that they do not recommend investing there, so that is enough for people to say that they will not invest because they do not want to lose their money, and currently there are many people who think that way In the same way, just as there are people who, when they see bad news about BTC, sell whatever, there are people who allow themselves to be influenced by the media, partly if it is due to ignorance, because most people do not like to read or investigate and that When it comes to money, human culture in general is very diverse.

[wildan88]

The list you have are true and I think one of the reasons too why it was prevented from world wide adoption is that not all people are educated on what cryptocurrencies are and the frauds and scammers are the one who reached them first that's why most of the people get scammed before they understand how Bitcoin really works. Plus it needs device and internet to use.

[BITCOIN4X]

Real adoption of bitcoin certainly requires a long process that requires large capital, only a strong financial company that can adopt Bitcoin,

LOL, you are completely wrong about adoption. You and I can also adopt bitcoin for your small business even though you and I don't have much capital. In general, to adopt bitcoin as a means of payment in your business you don't need any capital, but you just need to convince yourself to accept bitcoin as a means of payment for that business.

another thing that makes many companies doubt is that there are still many countries that are banned bitcoin so they are worried if they make the project then after completion but cannot be used because of the banned from the country.

The problem is government regulations regarding bitcoin where they have not legalized bitcoin as a means of payment so that bitcoin adoption in various countries has not increased much. What is certain is that adoption is free, you just need to have an interest and maybe friendly regulations.

[jhonjhon]

This is because governments all around the globe are keeping a close eye on Bitcoin's progress. El Salvador, for example, has made it their official currency. However, major economies such as the US refuse to accept it as legal cash.

Here's Why:

Governments all around the globe are watching Bitcoin's progress with caution since it has the potential to upend the existing financial system and weaken its position in it.

Bitcoin poses three problems to government power in its current form: it cannot be controlled, it is used by criminals, and it can assist citizens to avoid capital limits.

Bitcoin will continue to be distrusted by conventional authorities until its ecosystem matures.
Source: https://www.investopedia.com/articles/forex/042015/why-governments-are-afraid-bitcoin.asp

[IIrik11]

The list you have are true and I think one of the reasons too why it was prevented from world wide adoption is that not all people are educated on what cryptocurrencies are and the frauds and scammers are the one who reached them first that's why most of the people get scammed before they understand how Bitcoin really works. Plus it needs device and internet to use.

people get scammed because they're use to being spoon fed by banks for which they charge hefty fees.

this is why most people who still use btc don't keep their coins in their wallet like they should be doing.

instead they keep them on exchanges like coinbase/binance/etc. because there don't have to secure their seed/private-keys.

and these are the people imho who usually end up getting scammed or those who keep their coins in a hot wallet on a unsecured device.

but it all comes down to people being lazy and not wanting to do their homework on how to keep their coins secured, which is not that hard.

as for the device, any one who owns a computer can make an air-gapped cold storage wallet which would be almost as good as a hardware wallet.

and as far as internet goes, everything is dependent on the internet, every communication, transaction, internet is the backbone of everything.

[horrifiedx1]

The list you have are true and I think one of the reasons too why it was prevented from world wide adoption is that not all people are educated on what cryptocurrencies are and the frauds and scammers are the one who reached them first that's why most of the people get scammed before they understand how Bitcoin really works. Plus it needs device and internet to use.

it does take time to socialize bitcoin to be adopted worldwide for now. many of the people around us are unfamiliar with cryptocurrencies, especially for the elderly, where they are still unfamiliar with the internet. I think if it is legalized from now on, the next generation will have more people who understand it, but there are still many obstacles that must be faced such as fraud, money laundering, as well as decentralization problems

[blatchcorn]

it does take time to socialize bitcoin to be adopted worldwide for now. many of the people around us are unfamiliar with cryptocurrencies, especially for the elderly, where they are still unfamiliar with the internet. I think if it is legalized from now on, the next generation will have more people who understand it, but there are still many obstacles that must be faced such as fraud, money laundering, as well as decentralization problems

That's correct, bitcoin is just decade old while fiat is there since centuries. It will definitely take time before majority of the world gets to know about this. Fiat can be used by anyone but one limitation of bitcoin is that its technology dependent. You need to have electronic gadgets and familiar with its use in order to use it. Not everyone in this world have these things at his disposal. 

[Oluwa-btc]

People are just too reluctant to adapt to changed as they are tied down to the local fiat of them country. Poverty is also another thing as most people haven't solved their hunger issues, they can't use the little money they have to invest or start this up, example of such area's are in Africa!

[Marvelman]

Every country has its own political beliefs and views. Some politicians around the world don't want bitcoin. Some countries don't want bitcoin. China is one of them. I do hope governments around the world will come together and come up with a consensus to keep cryptocurrency adoption spreading in their countries. I am also optimistic about the future of bitcoin as government takes a more involved role in the regulation of cryptocurrency. I hope we will also see a more open attitude towards bitcoin in China in the future. In the long run, I think bitcoin will become mainstream. There will come a day where all people will use bitcoin, and therefore, the world will be more connected and prosperous.

[AjithBtc]

The usage is the one that restricts people from worldwide adoption. Already people are introduced to digital economy to pay with cards and with payment applications. This is being done with indirect charges acquired commonly. People will find the transaction fee as a problem to pay for every transaction. This is not everyone's mind, but majority of common people will have this thinking.

[uneng]

Lack of online jobs and earnings opportunities in large scale is what mainly prevents bitcoin from being adopted. If there were more accessible virtual jobs for everyone paying in bitcoin, there would be more people dealing with it in a daily basis. Bitcoin shouldn't grow in adoption only as investment, but also as payment currency from employers to employees.

Bitcoin usage would be skyrocketing right now if there were abundance of extra income offers on the internet where people could earn bitcoin.

[witcher_sense]

Lack of online jobs and earnings opportunities in large scale is what mainly prevents bitcoin from being adopted. If there were more accessible virtual jobs for everyone paying in bitcoin, there would be more people dealing with it in a daily basis. Bitcoin shouldn't grow in adoption only as investment, but also as payment currency from employers to employees.

It is not the number of available online jobs that commands bitcoin adoption, I'd say it is exactly the opposite: the extent to which bitcoin is adopted determines how many jobs will create. The amount of work that needs to be done is not a limited number; it is continuously growing because work creates more work, and demand comes before supply. If I have certain skills, I can offer my services in exchange for whatever currency I choose. If people find my skills valuable, they will agree to pay me with bitcoin or some other cryptocurrency. They will accept my offer not only because I demand my payment in bitcoin, but because sometimes bitcoin is the only way to transfer money abroad frictionlessly. The main point is that our deal (between seller and buyer) wouldn't have taken place had there been no option to transfer money abroad without bank involvement. Thanks to bitcoin and the opportunities it provides, online work like this has become brought to life.

[goldkingcoiner]

I personally do not believe anything is in the way of Bitcoin adoption. As far as adoption goes, Bitcoin is inevitable. There is no stopping a better technology and a better monetary system of the future.

The only problem I see is the rate of adoption. It is all happening a bit too slow perhaps, but then again, we have nothing to compare it to other than fiat. And even then, it is not the same as global money adoption, since that has never existed before in modern times.

It will definitely break through. Might take a while.

[Webetcoins]

Nothing really "prevents" it to be fair. I mean prevent means that there needs to be something that blocks people from doing it, even if they wanted to. However, reality is that everyone around the world can use it if they want to, so there is nothing that "prevents" it right now in the correct meaning of the word.

However, the reality is that if we focus on what causes the world to not start to use it with their own will? Then in that sense we do not have anything in the world that people use all over the world without missing a single person. It means that no matter what we are talking about, that will always be not used by everyone, and bitcoin keeps growing anyway, so there is no stop to it for now neither.

[Abiky]

This is because governments all around the globe are keeping a close eye on Bitcoin's progress. El Salvador, for example, has made it their official currency. However, major economies such as the US refuse to accept it as legal cash.

Here's Why:

Governments all around the globe are watching Bitcoin's progress with caution since it has the potential to upend the existing financial system and weaken its position in it.

Bitcoin poses three problems to government power in its current form: it cannot be controlled, it is used by criminals, and it can assist citizens to avoid capital limits.

Bitcoin will continue to be distrusted by conventional authorities until its ecosystem matures.
Source: https://www.investopedia.com/articles/forex/042015/why-governments-are-afraid-bitcoin.asp

Governments are the ones preventing Bitcoin from reaching mass adoption worldwide. They don't want Fiat to lose ground, so they'll put obstacles in order to minimize Bitcoin's usage as much as possible. Even though El Salvador made Bitcoin legal tender, not many people are using it because most merchants and businesses only accept Fiat as payment method. Without some sort of benefit to spend Bitcoin, how would people be motivated to use it in the first place?

I wouldn't worry about Bitcoin's limited adoption worldwide as long as it works as intended. Decentralization is what it's all about in order to bring banking to the unbanked. Since Bitcoin can't be stopped, governments' efforts against it will be futile. Adoption will surely increase in the future as Bitcoin and other cryptocurrencies mature as an asset class. But this will be at a slow and steady phase because of the reasons mentioned before. Who knows what lies ahead for Bitcoin within a decade from now? Just my thoughts

[uneng]

Lack of online jobs and earnings opportunities in large scale is what mainly prevents bitcoin from being adopted. If there were more accessible virtual jobs for everyone paying in bitcoin, there would be more people dealing with it in a daily basis. Bitcoin shouldn't grow in adoption only as investment, but also as payment currency from employers to employees.

It is not the number of available online jobs that commands bitcoin adoption, I'd say it is exactly the opposite: the extent to which bitcoin is adopted determines how many jobs will create. The amount of work that needs to be done is not a limited number; it is continuously growing because work creates more work, and demand comes before supply. If I have certain skills, I can offer my services in exchange for whatever currency I choose. If people find my skills valuable, they will agree to pay me with bitcoin or some other cryptocurrency. They will accept my offer not only because I demand my payment in bitcoin, but because sometimes bitcoin is the only way to transfer money abroad frictionlessly. The main point is that our deal (between seller and buyer) wouldn't have taken place had there been no option to transfer money abroad without bank involvement. Thanks to bitcoin and the opportunities it provides, online work like this has become brought to life.

I understand your point. But as I see, there are too many people offering their services online for too few individuals hiring those services. In other words: there is too much supply for low demand. Freelancers offering their services and asking to be paid in bitcoin isn't enough to push adoption upside. Employers dropping big money in bitcoin market are needed in order to make the masses adopt crypto efficiently through working online. Payrates don't even need to be large. Any extra income would be enough for incentivizing more people to use bitcoin.

The challenge is how to make employers adopt bitcoin. I guess only people willing to help bitcoin worldwide usage above any other interest could make this happen for real. That is: idealistic employers and entrepreneurs.

[Abiky]

I understand your point. But as I see, there are too many people offering their services online for too few individuals hiring those services. In other words: there is too much supply for low demand. Freelancers offering their services and asking to be paid in bitcoin isn't enough to push adoption upside. Employers dropping big money in bitcoin market are needed in order to make the masses adopt crypto efficiently through working online. Payrates don't even need to be large. Any extra income would be enough for incentivizing more people to use bitcoin.

The challenge is how to make employers adopt bitcoin. I guess only people willing to help bitcoin worldwide usage above any other interest could make this happen for real. That is: idealistic employers and entrepreneurs.

I seriously doubt employers are going to adopt Bitcoin, simply because it's extremely risky to use as digital cash. There's volatility everywhere, making it quite challenging to earn a fixed income by simply working for Bitcoin. With Fiat, that's not an issue due to its stability and reliability. Employers will trust Fiat more than anything else simply because it's backed by the government. Imagine what would happen if employers started paying in BTC instead of Fiat. The government will think they're evading taxes, forcing them to close their business for good.

For this and many other reasons, Bitcoin's adoption has been limited. While I'm certain it will become more popular over time, it'll never be as widely adopted as traditional Fiat currencies. I'm fine with that as long as decentralization wins at the end. Just my thoughts

[Lubang Bawah]

Until now Bitcoin there are still many countries that are banned, this is because they think that Bitcoin is a threat and competitors of legal fiat, if Bitcoin gets the same rights as Fiat then it is certain that citizens prefer to save money and assets in Bitcoin so as to make the value of Fiat continuously decrease.

[cheezcarls]

Out of all the factors that you have mentioned here, the major reason that prevents Bitcoin from massive worldwide adoption is the first one. China, Egypt and other anti-crypto countries are some of the examples of this. On top of that, most of the countries are in the ‘“grey” area where Bitcoin is neither legal nor illegal because of its certain risks to protect the investors. Scams and frauds using Bitcoin are also a “concern” too for some countries because it doesn’t require government or 3rd party approval. Government and banks want control of it, but they can’t because it’s decentralized but provides transparency of all transactions where it can be easily traced.

[riso2015]

I personally do not believe anything is in the way of Bitcoin adoption. As far as adoption goes, Bitcoin is inevitable. There is no stopping a better technology and a better monetary system of the future.

The only problem I see is the rate of adoption. It is all happening a bit too slow perhaps, but then again, we have nothing to compare it to other than fiat. And even then, it is not the same as global money adoption, since that has never existed before in modern times.

It will definitely break through. Might take a while.

I also totally agree with your review that no one will be able to block and prevent bitcoin adoption, not even the government side will be able to block bitcoin adoption, despite IMF efforts to prevent El Salvador from adopting bitcoin, but I personally think IMF efforts will not succeed

[blatchcorn]

I also totally agree with your review that no one will be able to block and prevent bitcoin adoption, not even the government side will be able to block bitcoin adoption, despite IMF efforts to prevent El Salvador from adopting bitcoin, but I personally think IMF efforts will not succeed

We live in a world and must be realistic about what's going around us. So far governments are in no mood of accepting decentralized bitcoin and ike crypto. I don't know what positive impact El Salvador move has over cryptocurrencies. Right now it's total chaos in EL Salvador.

Most Salvadorans have already ditched their national bitcoin wallets

[Newlifebtc]

I also totally agree with your review that no one will be able to block and prevent bitcoin adoption, not even the government side will be able to block bitcoin adoption, despite IMF efforts to prevent El Salvador from adopting bitcoin, but I personally think IMF efforts will not succeed

We live in a world and must be realistic about what's going around us. So far governments are in no mood of accepting decentralized bitcoin and ike crypto. I don't know what positive impact El Salvador move has over cryptocurrencies. Right now it's total chaos in EL Salvador.

Most Salvadorans have already ditched their national bitcoin wallets

When mention government, we should know that government can not generally start accepting bitcoin, bitcoin is something we know it's value and functions,we the users of bitcoin will make it to be recognized and be value because is not every country that does not accept the purpose of cryptocurrency

[Doan9269]

Lack of online jobs and earnings opportunities in large scale is what mainly prevents bitcoin from being adopted

Don't you even think this is the more reason why bitcoin should be adopted, this points you just mentioned is what many young adults sees as an opportunity in bitcoin, some of us, our brothers and people around us would have been affected by the high negligence of government role in providing free education, employment, free health, jobs, clean water, jobs and access to a good living, that's why many have come to remain independent in their entire live by adopting the use of bitcoin in other to scale through, our government are the major cause but despite all these, bitcoin is still running pretty fine making a difference in the human lives

[Abiky]

Out of all the factors that you have mentioned here, the major reason that prevents Bitcoin from massive worldwide adoption is the first one. China, Egypt and other anti-crypto countries are some of the examples of this. On top of that, most of the countries are in the ‘“grey” area where Bitcoin is neither legal nor illegal because of its certain risks to protect the investors. Scams and frauds using Bitcoin are also a “concern” too for some countries because it doesn’t require government or 3rd party approval. Government and banks want control of it, but they can’t because it’s decentralized but provides transparency of all transactions where it can be easily traced.

Governments are the ones who're interfering with Bitcoin's adoption worldwide. But they're not the only factors at play. As you've said before, scams, theft, and hacks are also one of the reasons why most people are afraid to use Bitcoin in the first place. While the same thing happens with traditional Fiat, people seem to trust it more than Bitcoin because it's backed by the government. At least, there's been some progress on Bitcoin's mainstream adoption over the past years.

With ever-rising inflation rates from traditional Fiat currencies, more people are beginning to notice Bitcoin's true benefits. We should give it more time to mature until it becomes a "force to reckon with". As long as decentralization wins, nothing else matters. Just my opinion

[noormcs5]

Governments are the ones who're interfering with Bitcoin's adoption worldwide. But they're not the only factors at play. As you've said before, scams, theft, and hacks are also one of the reasons why most people are afraid to use Bitcoin in the first place. While the same thing happens with traditional Fiat, people seem to trust it more than Bitcoin because it's backed by the government. At least, there's been some progress on Bitcoin's mainstream adoption over the past years.

I think we should not only blame governments for not adopting bitcoin, there are many other factors as well. As you mentioned there are a lot of crypto scams, hacks & thefts which people are doing, not the governments. Due to these online hacks, there is a lot of fear in the people and they hesitate to put their money online.
The only way to increase the bitcoin adoption is to give more awareness to the people.

[Abiky]

I think we should not only blame governments for not adopting bitcoin, there are many other factors as well. As you mentioned there are a lot of crypto scams, hacks & thefts which people are doing, not the governments. Due to these online hacks, there is a lot of fear in the people and they hesitate to put their money online.
The only way to increase the bitcoin adoption is to give more awareness to the people.

There are a lot of factors in play which limits Bitcoin's adoption worldwide. From government obstruction, to hacks and scams, Bitcoin won't be able to become Fiat's replacement anytime soon. It's been 13 years since Bitcoin's inception, but there are still a lot of people who don't know about Bitcoin yet. Not to mention, a small portion of them hate Bitcoin simply because they've been accustomed with the banking system for a long time. Of course, there are some governments adopting Bitcoin as legal tender. But that's still not enough for "hyperbitcoinization" to become a reality soon.

At least, Bitcoin is working as intended. As long as decentralization wins, nothing else matters. Just my opinion

[ilovealtcoins]

I also totally agree with your review that no one will be able to block and prevent bitcoin adoption, not even the government side will be able to block bitcoin adoption, despite IMF efforts to prevent El Salvador from adopting bitcoin, but I personally think IMF efforts will not succeed

We live in a world and must be realistic about what's going around us. So far governments are in no mood of accepting decentralized bitcoin and ike crypto. I don't know what positive impact El Salvador move has over cryptocurrencies. Right now it's total chaos in EL Salvador.

Most Salvadorans have already ditched their national bitcoin wallets

We all know bitcoin is the technology of the future but its nature is decentralized and I am not sure the government will accept it, that is very unlikely in the major countries of the world.

Today bitcoin acceptance is happening in countries that don't have their own currency or countries with dysfunctional economy, inflation they are trying to save the economy but things are still going wrong as good as we think. tbh, I'm not very optimistic about bitcoin being accepted by all the governments of the world.

[DooMAD]

tbh, I'm not very optimistic about bitcoin being accepted by all the governments of the world.

I'd feel more comfortable if it wasn't accepted by all governments.  That would mean too many petty national agendas at play.  Bitcoin is better kept at a distance, as an alternative to government meddling.  Entirely separate from national interests.

[blatchcorn]

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.

To me the biggest obstacle in bitcoin adoption worldwide is oppression of centralized institutes backed by governments. The main reason why government is against decentralized bitcoin is that they won't be able to control it. Its not true that criminal activities like money laundering can only be done via cryptocurrencies, right now majority of criminal activities are going on with fiat.

[Gyfts]

I understand your point. But as I see, there are too many people offering their services online for too few individuals hiring those services. In other words: there is too much supply for low demand. Freelancers offering their services and asking to be paid in bitcoin isn't enough to push adoption upside. Employers dropping big money in bitcoin market are needed in order to make the masses adopt crypto efficiently through working online. Payrates don't even need to be large. Any extra income would be enough for incentivizing more people to use bitcoin.

The challenge is how to make employers adopt bitcoin. I guess only people willing to help bitcoin worldwide usage above any other interest could make this happen for real. That is: idealistic employers and entrepreneurs.

I seriously doubt employers are going to adopt Bitcoin, simply because it's extremely risky to use as digital cash. There's volatility everywhere, making it quite challenging to earn a fixed income by simply working for Bitcoin. With Fiat, that's not an issue due to its stability and reliability. Employers will trust Fiat more than anything else simply because it's backed by the government. Imagine what would happen if employers started paying in BTC instead of Fiat. The government will think they're evading taxes, forcing them to close their business for good.

For this and many other reasons, Bitcoin's adoption has been limited. While I'm certain it will become more popular over time, it'll never be as widely adopted as traditional Fiat currencies. I'm fine with that as long as decentralization wins at the end. Just my thoughts

Employers would adopt Bitcoin if it meant leaving the fiat currency system in which political actors can send the entire system crashing down. There's volatility in crypto, I don't dispute that -- but also consider the volatility with fiat in which the inflation rate can systematically reduce your purchasing power every year, something that is induced by design (min. 2% year, often exceeds that). Plenty of incentive for an employer to adopt crypto. They just haven't realized it until more recently with most fiats experiencing insane inflation rates.

[dataispower]

The major part of today's economy depends on fiat money. Besides governments are scared of the fact that they can't supposable control it as it offers additionally portion of protection to the users so it is hard to get information about users that can be the reason why a lot of people are still suspicious of bitcoin.

That was before when people were suspicious of bitcoin crashing and bitcoin coming to take away their money with the system of investment. Bitcoin is not competing with fiat because fiat has stayed long way before the creation and also people know fiat since age's. What ever we do to boats up of economy of country today is with the fiat. When Bitcoin will be included for the boats of any country economy is when we have massive adoption or if is being legalize as a legal tender for the country. For now i say bitcoin never circulates everywhere I'm not wrong, because the wider the speculation the more people have interest

[thet]

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.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

These are my thoughts on what's preventing bitcoin from being adapted worldwide.

Very well said!

That's the reason why Bitcoin is not yet being used in other countries. Bitcoin price is always change, there are also projects that doesn't work well because there are so many scammers then investors are having trust issues in some projects.

[serjent05]

Bitcoin remains to be adopted by every country in the world for various reasons. Here are my thoughts on why..

~snipped...

Very well said!

That's the reason why Bitcoin is not yet being used in other countries. Bitcoin price is always change, there are also projects that doesn't work well because there are so many scammers then investors are having trust issues in some projects.

Aside from the factors given by OP, I think one of the main reasons that prevent Bitcoin's worldwide adoption is the fear of the worldwide economic control of a few people that holds a huge amount of BTC.  Imagine what will happen to the worldwide economy if these few people command the market.  Superpowers like the USA will definitely refuse this kind of thought and it will be devastating if few individuals with little knowledge of the economic system lead. It will be chaos if ever these people decided to crash the market affecting the global economy.  We have seen how this works when someone decided to sell their huge stash of BTC, the price crashed and lots of investors lost a huge amount of money.  Just replace these investors by country, then we will imagine what will happen.

[bangjoe]

There is no doubt that what the op says is true, the dislike of interested parties who don't want bitcoin adoption is the biggest problem for realizing bitcoin adoption worldwide. Let's not talk about the full adoption of bitcoin just yet, in just one country there are still many who oppose its existence, so that will be a big obstacle for bitcoin itself.

[D ltr]

I think the third point is the reason why btc can't be adopted in every country, because the unstable bitcoin value is what makes the government don't want to know about bitcoin, but if btc has a flat value like fiat I think btc can be accepted, it's just that there's too much drama in it. government

[Fortify]

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.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

These are my thoughts on what's preventing bitcoin from being adapted worldwide.

You miss one thing - there are already existing currencies and payment networks that do the role that cryptocurrencies are trying to fill. Like anything, for a new improvement to come along and dislodge an incumbent, it requires a big benefit over whatever already exists. Now Bitcoin can fit that bill, but it seems like the amount of power required to run the overall system, the ability to expand to cope with the huge amount of transactions that are taking place and the ability to complete transactions instantly are all hurdles that still need to be overcome. I think Bitcoin has a little niche to fill - moving larger amounts of money across borders, but for day to day activity it seems far off the mark.

[evichi]

In consideration of the purpose of creating Bitcoin, "Be your own bank" Government of some countries are actually making efforts to discourage the use of Bitcoin. As you have rightly said, government want to be in control and play the role of the 3rd party to have a cut from hard earned income of its citizens. But as governments discover ways of making money from the use of Bitcoin, like taxes, etc. the may allow the use, but they have indirectly contributed in increasing the transaction costs. Secondly, appreciable percentage of the world population are not yet aware of how cryptocurrency functions, while some that have heard of Bitcoin, consider it highly technical to understand. Thirdly, the characteristics of Bitcoin, for example, its volatility, is considered as a high investment risk for some people, especially when they hear news of Bitcoin crashing from high to low value. Most times, negative news makes most impact.

The energy consumption required in Bitcoin mining (Bitcoin uses Proof-of-Work algorithm) makes crypto experts opt for other alternatives  that require less energy. The technical savvy/experts invent their own coins thereby drawing people from Bitcoin to other altcoins (Some altcoins use Proof-of-Stake algorithm). In consideration of some countries that are poor, we find that lack of access to internet, smartphone, etc. are all factors militating the adoption of Bitcoin as they require some level of income to afford these facilities.

[Xampeuu]

There is no doubt that what the op says is true, the dislike of interested parties who don't want bitcoin adoption is the biggest problem for realizing bitcoin adoption worldwide. Let's not talk about the full adoption of bitcoin just yet, in just one country there are still many who oppose its existence, so that will be a big obstacle for bitcoin itself.

moreover, those who oppose it are people who are influential in government or the world, so they have the power to make clear rules to corner bitcoin, and this kind of thing of course later nature will answer, where when fiat is no longer relevant to the civilization of that era, there will be a cultural shift. but also no one knows what will happen in the future, and I think it really takes time to meet our expectations as bitcoiners

[Smartvirus]

Talking about the scams and government, you know people can really go past that should they just be determine to. The issue is, most prospective users and investors aren't willing to research on informations about the cryptocurrency development or initiative. Little wonder why the system gains more investors an use cases keeps arising even in crypto ban or restricted areas. Its just the way it is on how, the projects are self sufficient and need no government interference.
Government haven't been able to leverage the system to there advantage and so, they continue to spread fud of it being a scam and try to come up with CBDC to serve in the crypto capacity.

[Mahanton]

Talking about the scams and government, you know people can really go past that should they just be determine to. The issue is, most prospective users and investors aren't willing to research on informations about the cryptocurrency development or initiative. Little wonder why the system gains more investors an use cases keeps arising even in crypto ban or restricted areas. Its just the way it is on how, the projects are self sufficient and need no government interference.
Government haven't been able to leverage the system to there advantage and so, they continue to spread fud of it being a scam and try to come up with CBDC to serve in the crypto capacity.

No surprising that they would really be tending to lure it to stick with those centralized things rather than citizens would be dealing mainly on decentralized ones which they arent able to control
and we know that government doesnt really like that thats why its not surprising that they would really be emphasizing about its cons and would make people believe specially to those
who do have zero knowledge about the cons of dealing with bitcoin or crypto thats surely somehow slows down overall adoption and recognition but well we should not worry
too much because the truth would always prevail and the community will surely even gets bigger as the years passing by.

[sklopan]

I'm sure many governments are now puzzled that bitcoin allows many people to work without paying taxes, in fact. And I'm sure a lot of people don't like it.

[AmoreJaz]

I'm sure many governments are now puzzled that bitcoin allows many people to work without paying taxes, in fact. And I'm sure a lot of people don't like it.

definitely, that's one of the advantages of receiving crypto if the country you are in doesn't have tax protocols in terms of income coming from crypto. better take advantage while they are not implementing how to file a tax from your crypto income. actually, it is hard to impose tax if the government itself has vague idea or has no clue where to start on how to formulate those tax protocols.

There is no doubt that what the op says is true, the dislike of interested parties who don't want bitcoin adoption is the biggest problem for realizing bitcoin adoption worldwide. Let's not talk about the full adoption of bitcoin just yet, in just one country there are still many who oppose its existence, so that will be a big obstacle for bitcoin itself.

moreover, those who oppose it are people who are influential in government or the world, so they have the power to make clear rules to corner bitcoin, and this kind of thing of course later nature will answer, where when fiat is no longer relevant to the civilization of that era, there will be a cultural shift. but also no one knows what will happen in the future, and I think it really takes time to meet our expectations as bitcoiners

this is a new currency that a lot of people are still not familiar of. those who strongly oppose more then likely have no idea how to transact with btc or any other alts. they haven't touched anything in terms of crypto. so they are opposing blindly without actual experience in the market. because if they have, they may change their mind. but i guess, the major factor that they are hesitant on this market is because it is decentralized. no government can have full control of this market. and that's what crypto users like about this tech

[Oilacris]

I'm sure many governments are now puzzled that bitcoin allows many people to work without paying taxes, in fact. And I'm sure a lot of people don't like it.

Paying tax isnt bad but there are places or countries in the world which are too corrupt thats why people doesnt really like on voluntarily paying up taxes due for that reason.
We know on what TAX is and whats the role of it for economic progress of the place you are living.It is really just depending on the leaders or the government who do
really handle out those funds.

This is where government do really put up their attention the most since people could actually hid themselves on not to pay up tax despite of the good
income or profits that they do get out from crypto investments thats why they dont really have any choice but to deal with those centralized platforms and services
which they could only able to potentially touch up.

[ololajulo]

I'm sure many governments are now puzzled that bitcoin allows many people to work without paying taxes, in fact. And I'm sure a lot of people don't like it.

Paying of tax is limited to some countries, If you try to avoid tax in USA on cryptocurrecny trade then you are look for trouble, although their are some escape route. People dont just like bitcoin, I think they are just ignorant or scared of the news they heard. Like some top country, it is smart not to enforce bitcoin use to citizens now but stable coin see more adoption. I believe the cycle with bitcoin one day will have a turn around and wont be this volatile.

[Penelope Wheeler]

The stringent government regulation, unaffordability, and the lack of knowledge are the main reasons why bitcoins aren’t adopted worldwide.

[blatchcorn]

I think the third point is the reason why btc can't be adopted in every country, because the unstable bitcoin value is what makes the government don't want to know about bitcoin, but if btc has a flat value like fiat I think btc can be accepted, it's just that there's too much drama in it. government

Government don't want to listen about bitcoin whether it has stable value or not. The prime reason is governments are against anything that is not under there control whether its currency, News channel, journalist or anyother thing. Have you every wonder why governments are not against centralized exchanges like binance? since its very easy to monitor or control them.

[bryant.coleman]

In the end, for 90% of the population it is the acceptance, ease of usage and stability that matters. Theoretically they may support a currency that can't be controlled by the governments. But most of them may not be comfortable with the idea of converting crypto to fiat for most of the purposes such as shopping and making payments. And then there is the issue with stability. Fiat currencies are going down constantly as a result of inflation. But very few people realize it, because everyone uses fiat and it affects everyone equally.

[amishmanish]

Each day more and more businesses, institutions and countries are accepting bitcoin. I felt really good when David M. Solomon CEO of  Goldman Sanchs mentioned about bitcoin investments when he is on his maiden visit to india. This gives a clear signal where crypto and bitcoin economy is headed to.
SO saying that mass adoption of bitcoin is not happening. Yes there are reservations and reluctance in some quaters, but each day bitcoin is going from strength to strength

[Abiky]

You miss one thing - there are already existing currencies and payment networks that do the role that cryptocurrencies are trying to fill. Like anything, for a new improvement to come along and dislodge an incumbent, it requires a big benefit over whatever already exists. Now Bitcoin can fit that bill, but it seems like the amount of power required to run the overall system, the ability to expand to cope with the huge amount of transactions that are taking place and the ability to complete transactions instantly are all hurdles that still need to be overcome. I think Bitcoin has a little niche to fill - moving larger amounts of money across borders, but for day to day activity it seems far off the mark.

Bitcoin can already compete with existing payment networks, thanks to the off-chain scaling solution known as The Lightning Network. With this, Bitcoin will be able to scale to millions of users without issues. Transactions performed on the LN are dirt-cheap and near-instant, making BTC as good as PayPal (but even better). What's really preventing Bitcoin from worldwide adoption is the unstable prices on the market. That, and also the fact that some governments are spreading misinformation and false propaganda in order to scare away as much people from it as possible.

If it wasn't because of this, Bitcoin would've reached the whole wide world by now. At least, the cryptocurrency is working as intended. As long as decentralization prevails, nothing else matters. Just my opinion

[n0ne]

The adoption of bitcoin is happening in a consistent manner. In the past we used to see opposition from the governments whenever cryptocurrency usage is promoted. Now the countries that are against cryptocurrency too have begun to use cryptocurrency and regulate it understanding the need and the increasing usage among the common people.

One the other side many ways of promotion and awareness are happening around. One of the region where the adoption is experiencing massive growth is the African countries. Binance have announced its awareness tour BCAT - BlockChain and Crypto Awareness Tour. This will go through certain regions and particularly concentrated on Southeast Nigeria, Uganda, Cameroon and Ghana. Already Binance through similar program have reached over 60000 Nigerians through different institutions. These kind of activities too will increase the adoption of bitcoin around the world.

[BTCLND]

1. Complex to setup.

Lot of people here recommend up your own full node and "not your keys not your crypto" but a 60 year old probably wouldn't know how to set up a hardware wallet

https://venmo.com/ https://cash.app/ wallets make it really easy for example but there should really be more apps making it easy to set up a wallet

2. High Transaction Fees

If someone's selling a 1.25$ coke and BTC transaction fees are 1.75$, there's really no point in paying with Bitcoin. L2 like Lightning network would be a great solution but it's still complex for the average user.

On top of that you have transaction fees like Coinbase https://commerce.coinbase.com/. Some payment processors are free like Poof Payments https://www.poof.io/ but there's still network fees. 

3. Volatility

If Bitcoin is going up and down 5-8% every day from 18k to 22k back down to 18k, there's less incentive for customers to take the volatility risk accepting Bitcoin. Sure they can convert but exchanges like Coinbase have sketchy tactics where they charge 3% volatility fees. Might as well just do credit cards in this case.

[RussianEnglishTranslation]

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.

2. Scammers and fraudulent practices: Scammers have found bitcoin as a safe haven cause of its transactions being anonymous. Also, terrorist groups among other sources get funded by bitcoin also cause of its anonymous nature. Fraudulent practices and transactions are made with ease wth the use of bitcoin.

3. Fluctuating value: The value of bitcoin isn't steady as it rises and falls. The uncertainty in the price and value greatly hinders the general adoption worldwide.

4. Awareness: Nearly not enough effort on creating and spreading positive awareness on it as some government and individuals alike is hell bent on spreading negativity around and poisoning the minds of prospective users. People need to be aware and understand what bitcoin is really about and be awake to its uses.

5. Information hoarding: You could get lots of information about anything on the internet including bitcoin. But the internet can be misleading to newbies cause you could get right and wrong and also misleading information on the internet. It puzzles me that people with an in depth knowledge of bitcoin would purposefully hoard and keep information to themselves. You may think people don't hoard information but in reality, people do. It irksome just thinking about it. If people could share information, newbies won't readily fall prey to scammers.

These are my thoughts on what's preventing bitcoin from being adapted worldwide.

I think the issues holding bitcoin back are POW, lack of smart contracts, slow transactions, and higher fees. Fortunately, these things can be solved when BTC is integrated with the internet computer or pegged on Flare. At this point, we don't even need the lightning network.

[Abiky]

The adoption of bitcoin is happening in a consistent manner. In the past we used to see opposition from the governments whenever cryptocurrency usage is promoted. Now the countries that are against cryptocurrency too have begun to use cryptocurrency and regulate it understanding the need and the increasing usage among the common people.

One the other side many ways of promotion and awareness are happening around. One of the region where the adoption is experiencing massive growth is the African countries. Binance have announced its awareness tour BCAT - BlockChain and Crypto Awareness Tour. This will go through certain regions and particularly concentrated on Southeast Nigeria, Uganda, Cameroon and Ghana. Already Binance through similar program have reached over 60000 Nigerians through different institutions. These kind of activities too will increase the adoption of bitcoin around the world.

Compared to what it used to be in Bitcoin's early days, I'd say mainstream adoption has increased by a long shot. But for the pioneer cryptocurrency to be truly embraced by anyone worldwide, some changes need to be made. Scaling issues, high price volatility, and lack of merchant acceptance is what's limiting Bitcoin's ability to be used worldwide. Slowly but surely we're getting there as governments adopt Bitcoin as legal tender. It's only been 13 years since Bitcoin's inception, yet a lot has been achieved within such a short amount of time. If Bitcoin has gone this far, how do you think mainstream adoption will look like in the next decade? Just my thoughts

[Oluwa-btc]

From own view, I think Bitcoin needs to be used by one of the top Nations likely ( United States of America ). Yes Africa is a continent with one of the advocacy and enlightenment is going down with the help of Binance. But making Bitcoin conquer the states wouldn't be bad and would like lead to full adoption.

Those are really good points there from the OP. Gradually it'll sure be a legal tender over the state's.Whats  scary is that most states are banning the mining of Bitcoin. As a result of coal burning ?

[Ebede]

What is preventing bitcoin for worldwide adoption from my own suggestion I don't know for any other person is based on the value of a cryptocurrency right now so when you say cryptocurrency is not violent it depends on the country or depends on the environment you find yourself if you find yourself in a country that knows about cryptocurrency everybody in that writing we like to also invest in cryptocurrency in order to get it or money or it won't kind of investment sold a massive adoption of cryptocurrency is depending on the country that no eat or if country that does not load Peter currency then you are trying to explain cryptocurrency to somebody that person actually will not understand what is Pluto considered as nothing will make the person to invest in cryptocurrency so that is the why some country or some people refused to about cryptocurrency as a legal tender

[BCwinning]

 cash is king. doesn't matter the country, if it's physical and can pass from a persons hand to another and can't be tracked.
what is better?
I think the countries that have blocked it show a very good reason why crypto isn't going to replace cash, until it can truly replicate cash.

[shogun47]

I guess one important question is what you mean when you say adoption? Is adoption that more and more people ownBitcoin? Or do you mean by adoption that more and more people really useBitcoin? I differentiate between the two categories because from an ownership point of view, the number of people owing Bitcoin is pretty high. But that goes also hand in hand somehow with the usageaspect of Bitcoin. I believe that the majority of people still consider Bitcoin a speculative investment and, hence, don't use it in hopes for the price to increase in the future. This is one aspect that holds Bitcoin back from circulating as a type of currency in many places of the world. Then there are other uncertainties like regulation, which is still unclear how it will play out in the future. As a consequence some people might refrain from getting involved for now. But overall I think Bitcoin is making its way further and further into society.

[virasisog]

cash is king. doesn't matter the country, if it's physical and can pass from a persons hand to another and can't be tracked.
what is better?
I think the countries that have blocked it show a very good reason why crypto isn't going to replace cash, until it can truly replicate cash.

Also, lack of awareness and education about the use of cryptocurrency is another reason why people will always choose cash. Lots of people are still clueless about how cryptocurrency works and how they could use it. Normal people still prefer cash because it's acceptable in all forms of businesses and different transactions. If people would know how to use crypto, there's a possibility that more would switch to it.

[DooMAD]

Also, lack of awareness and education about the use of cryptocurrency is another reason why people will always choose cash. Lots of people are still clueless about how cryptocurrency works and how they could use it. Normal people still prefer cash because it's acceptable in all forms of businesses and different transactions. 

But for how long?  Cash won't always be an option.  Loads of governments are looking at phasing cash out.  There will come a time where you don't have a choice.  It'll either be Bitcoin or some centralised digital gov-coin.

[Hold-n-play]

I think that lack of education/awareness is one of the important factors preventing btc from mass adoption. When I say a word "bitcoin", I often hear some like "isn't it a scam?"

 If I were in a position to make changes to a current educational system, in the future, I would introduce an elective focused on blockchain ("Blockchain 101") beginning from high school/college. Certainly not a requirement but something that youngsters can learn if they elect to do so.

I am sure there will be some crypto enthusiasts in the future who would be willing to do that to prepare young generation to all these  benefits that blockchain can bring to everyday life. In turn, after increasing general awareness of this subject, younger generation may bring up some fresh ideas to crypto as well. Its a "win-win" situation.

 

[carlfebz2]

Also, lack of awareness and education about the use of cryptocurrency is another reason why people will always choose cash. Lots of people are still clueless about how cryptocurrency works and how they could use it. Normal people still prefer cash because it's acceptable in all forms of businesses and different transactions. 

But for how long?  Cash won't always be an option.  Loads of governments are looking at phasing cash out.  There will come a time where you don't have a choice.  It'll either be Bitcoin or some centralised digital gov-coin.

Really hard to believe on as long government do see its relevance then it would surely stay no matter what.We might have go through digital-fiat or transactions but cant really be denied that fiat do still

play a big role when it comes to day to day transactions which cant really be done via online transactions which they might be having that reconsideration in regarding the situation on why we cant really
be having that full switch up.

But you do actually have the point about cash/fiat but lets just presume for now and as for Bitcoin worldwide adoption then it would really just come down naturally.

[D ltr]

Also, lack of awareness and education about the use of cryptocurrency is another reason why people will always choose cash. Lots of people are still clueless about how cryptocurrency works and how they could use it. Normal people still prefer cash because it's acceptable in all forms of businesses and different transactions. 

But for how long?  Cash won't always be an option.  Loads of governments are looking at phasing cash out.  There will come a time where you don't have a choice.  It'll either be Bitcoin or some centralised digital gov-coin.

they have created ATMs in every shop so that buyers are ready with their cards, so at least fiat money is still useful but the circulation of physical money is scarce because there is technology that balances it, so they don't really have much influence with btc because for them btc is an enemy in finance

[BCwinning]

cash is king. doesn't matter the country, if it's physical and can pass from a persons hand to another and can't be tracked.
what is better?
I think the countries that have blocked it show a very good reason why crypto isn't going to replace cash, until it can truly replicate cash.

Also, lack of awareness and education about the use of cryptocurrency is another reason why people will always choose cash. Lots of people are still clueless about how cryptocurrency works and how they could use it. Normal people still prefer cash because it's acceptable in all forms of businesses and different transactions. If people would know how to use crypto, there's a possibility that more would switch to it.

I don't need to pay a transaction fee when I hand someone cash. I give them a bill, it's a bill nothing more nothing less.
Why am I paying a fee to use my money? might as well use a credit card. and hey don't take this wrong, I own bitcoin and I have spent it at vendors.
Kind of makes you cry when you see the transaction fee you paid in 2017 was 3 times what the goods cost when btc was at it's all time high..

[Adbitco]

From OP post i noticed the most important thing hindering the max adoption is Government, without the government's approval i don't thing it would be very easier for Bitcoin to be generally legalized or adopted from all country. This same point which many have been holding on, Transaction fees is not the main key factor which is preventing it, the governments would want to have full country but since the founder is anonymous and is untraceable people's funds can't be trusted over knowing who has controls over it, for world to fully adopt bitcoin maybe if only remain traceable and trackable.

Secondly, the people's thoughts about it maybe some forms of information that has been conveyed by people who are learned to uncivilized people over there this means ( People who lacks access to internets, maybe those who don't literally read and gets updated subsequently, and a state or province who don't access to electricity maybe it would be one day mentioned in local televisions/radio station and many more). Lastly price variations, it's another major key factors that hinders fast adoption just as OP said.

[BITCOIN4X]

From OP post i noticed the most important thing hindering the max adoption is Government, without the government's approval i don't thing it would be very easier for Bitcoin to be generally legalized or adopted from all country. This same point which many have been holding on, Transaction fees is not the main key factor which is preventing it, the governments would want to have full country but since the founder is anonymous and is untraceable people's funds can't be trusted over knowing who has controls over it, for world to fully adopt bitcoin maybe if only remain traceable and trackable.

The government and its regulations are one of the inhibiting factors for adoption, it's true. But you also need to know that some people are still unable to convince themselves to adopt bitcoin as a means of payment due to fluctuations and possible problems with expensive transaction fees. Transaction speed is also sometimes one of the things considered by anyone who wants to adopt bitcoin even though LN is quite reliable as a means of micro-transactions with better speed.

So far, the adoption of bitcoin has increased everywhere, but many people will still consider this payment option especially as long as bitcoin is accepted as a means of payment. It's still has to be converted manually if shop owner are not willing to accept the risk of price fluctuations. I wouldn't say this is a major issue, but just a few things to support about why bitcoin has not been fully adopted by every country.

[nicedreams]

Stop thinking about government's restrictions for this time. We have to take a look at people's minds to see why they ain't embrace Bitcoin and worldwide adoption for it. Can you guess it? Yes, it was because not everyone wants to be a holder or I meant a Bitcoin investor because of Bitcoin or crypto volatility. It is relatively easy to see the high volatility discourages people from using it. If you think Bitcoin can be comparable to gold, you're wrong. Gold has a lot of other uses which make it not likely to go down, or lose its value.

[sklopan]

In general, bitcoin has already become a global currency. Especially if you pay attention to how some countries began to deal with this)

[shogun47]

From OP post i noticed the most important thing hindering the max adoption is Government, without the government's approval i don't thing it would be very easier for Bitcoin to be generally legalized or adopted from all country. This same point which many have been holding on, Transaction fees is not the main key factor which is preventing it, the governments would want to have full country but since the founder is anonymous and is untraceable people's funds can't be trusted over knowing who has controls over it, for world to fully adopt bitcoin maybe if only remain traceable and trackable.

The government and its regulations are one of the inhibiting factors for adoption, it's true. But you also need to know that some people are still unable to convince themselves to adopt bitcoin as a means of payment due to fluctuations and possible problems with expensive transaction fees. Transaction speed is also sometimes one of the things considered by anyone who wants to adopt bitcoin even though LN is quite reliable as a means of micro-transactions with better speed.

So far, the adoption of bitcoin has increased everywhere, but many people will still consider this payment option especially as long as bitcoin is accepted as a means of payment. It's still has to be converted manually if shop owner are not willing to accept the risk of price fluctuations. I wouldn't say this is a major issue, but just a few things to support about why bitcoin has not been fully adopted by every country.

I think it really depends in which area of the world you are. These days banks usually have an option to wire money instantly from A to B, and if you use your debit or credit card it is instantly anyway. From that point of view Bitcoin is still lacking behind. If those things can be fixed it might be a big plus.

Regarding volatility, the real problem also is taxation. I don't know how it works in most countries, but as far as I know if you own Bitcoin and it appreciated 5% in value and you use it to buy something, you are actually required to file a tax report for the portion of Bitcoin you used and the according 5% appreciation in value. That makes it a pain in the * to use it. That is one big issue I see that makes the use of Bitcoin overcomplicated.

[theCommittalist]

In general, bitcoin has already become a global currency. Especially if you pay attention to how some countries began to deal with this)

It's internet money so can be used everywhere there is internet which is pretty much global like sklopan says. And some myopic reactionary elements in the international economy feel threatened by it. They fail to recognise that as a medium of exchange with arguably universal value Bitcoin streamlines all economics & fiat trading. Also as the default global currency the USD relies as we know not on a gold standard but basically on America's 'national security' & 'standing in the world' which boils down to enforcement. War is a racket like Smedley Butler said & the value imposed by the collective consciousness onto dollars is largely as a result of military & structural power. So when something like Bitcoin emerges that can be & as said is perceived as a threat the response can be in some ways violent or reminiscent of violence.

[Adbitco]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility". 

[AicecreaME]

Stop thinking about government's restrictions for this time. We have to take a look at people's minds to see why they ain't embrace Bitcoin and worldwide adoption for it. Can you guess it? Yes, it was because not everyone wants to be a holder or I meant a Bitcoin investor because of Bitcoin or crypto volatility. It is relatively easy to see the high volatility discourages people from using it. If you think Bitcoin can be comparable to gold, you're wrong. Gold has a lot of other uses which make it not likely to go down, or lose its value.

You have a valid point. Bitcoin is not for everyone and we have to accept that truth. I just don't know why some members here and user of bitcoin can't swallow that idea. After all, we have our own preferences in life and in the things we want to do. Some people just don't like to be part of bitcoin and that's it. Despite its advantages, they knew in themselves that they can't just enter it and that's okay. Perhaps there are other fields and areas of financial platform that they are more comfortable with. Still, to each his own. We can educate, but we cannot impose our own beliefs.

[ChrisPop]

I agree and it is also psychologically hard to adopt a change that will fundamentally change the way people store value and perform payments.
You see.. humans have anxiety systems that ideally should help them identify danger. Changing the financial system from its foundation is indeed  something that provokes a lot of thoughts. But that is not a bad thing. it just means we need to take our time and not hurry when making important decisions.

[tbterryboy]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

[shogun47]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

[theCommittalist]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

[shogun47]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

As much as I would like to let you know that I fully agree, the issue with what you just said is that it is unrealistic for Bitcoin to develop into its own economic system without any tax burdens whatsoever. I would rather say that whatever generates income is taxable (under most circumstances). If Bitcoin makes you income, a tax applies. I don't think a world would work out properly without taxes. There was an interesting sentence a while ago about the rich saying they are fine with higher taxes and carry a heavier burden than the poor. Then it was added that the state donation account was just in the thousands. If the millionaires and billionaires are fine with higher taxes, why not just send money to that state controlled donation account? In a sense it is the same when I am fine with higher tax, I can either pay higher tax or impose a tax on myself through donations that I commit to. Yet that account is usually literally empty. People aren't going to support public goods the way we wish they were. Economic self-interest isn't bad per se, but it needs moderation and coordination. Tax is a tool to achieve that. I am not saying I am all for taxes in whatever form they occur, but I don't see how an economic system would support a social system without taxation requirements.

[theCommittalist]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

As much as I would like to let you know that I fully agree, the issue with what you just said is that it is unrealistic for Bitcoin to develop into its own economic system without any tax burdens whatsoever. I would rather say that whatever generates income is taxable (under most circumstances). If Bitcoin makes you income, a tax applies. I don't think a world would work out properly without taxes. There was an interesting sentence a while ago about the rich saying they are fine with higher taxes and carry a heavier burden than the poor. Then it was added that the state donation account was just in the thousands. If the millionaires and billionaires are fine with higher taxes, why not just send money to that state controlled donation account? In a sense it is the same when I am fine with higher tax, I can either pay higher tax or impose a tax on myself through donations that I commit to. Yet that account is usually literally empty. People aren't going to support public goods the way we wish they were. Economic self-interest isn't bad per se, but it needs moderation and coordination. Tax is a tool to achieve that. I am not saying I am all for taxes in whatever form they occur, but I don't see how an economic system would support a social system without taxation requirements.

Sure they can tax associated income as you say in the form of capital gains or whatever, but my broad point still stands. Bitcoin itself as a standalone thing, unlike any other currency, cannot be claimed & thus taxed by a state agency. It relies on the internet & belongs to the users. Think about a state agency claiming jurisdiction over the internet & trying to tax Bitcoin like they do national currencies, I think that is unrealistic.

[Newlifebtc]

cash is king. doesn't matter the country, if it's physical and can pass from a persons hand to another and can't be tracked.
what is better?
I think the countries that have blocked it show a very good reason why crypto isn't going to replace cash, until it can truly replicate cash.

cryptocurrency is a cash but the problem is that people did not understand the usefulness of cryptocurrency whatever cash can purchase cryptocurrency can equally purchase it but why people ignore cryptocurrency is that they feel that it is a short way of using for embezzlement of funds so that is why the document cryptocurrency to be legalised or to be adopted generally

[asimi.io]

All the referred to points had been preventing bitcoin from international adoption. Vicinity and the salary is a great deal worried in relation to the low adoption. Anywhere those who earn desirable to are into bitcoin utilization while the relaxation simply desire to make investments, however they were not capable of do it for extraordinary reasons. As stated in one of the quote, 1/2 the world populace is residing with an incomes of less than a dollar. For them what we are speak me approximately is a ways.

[shogun47]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

As much as I would like to let you know that I fully agree, the issue with what you just said is that it is unrealistic for Bitcoin to develop into its own economic system without any tax burdens whatsoever. I would rather say that whatever generates income is taxable (under most circumstances). If Bitcoin makes you income, a tax applies. I don't think a world would work out properly without taxes. There was an interesting sentence a while ago about the rich saying they are fine with higher taxes and carry a heavier burden than the poor. Then it was added that the state donation account was just in the thousands. If the millionaires and billionaires are fine with higher taxes, why not just send money to that state controlled donation account? In a sense it is the same when I am fine with higher tax, I can either pay higher tax or impose a tax on myself through donations that I commit to. Yet that account is usually literally empty. People aren't going to support public goods the way we wish they were. Economic self-interest isn't bad per se, but it needs moderation and coordination. Tax is a tool to achieve that. I am not saying I am all for taxes in whatever form they occur, but I don't see how an economic system would support a social system without taxation requirements.

Sure they can tax associated income as you say in the form of capital gains or whatever, but my broad point still stands. Bitcoin itself as a standalone thing, unlike any other currency, cannot be claimed & thus taxed by a state agency. It relies on the internet & belongs to the users. Think about a state agency claiming jurisdiction over the internet & trying to tax Bitcoin like they do national currencies, I think that is unrealistic.

I totally get what you are saying and I am not arguing against your point from a theoretical perspective. The reality, however, will turn out to be quite different. Before the governments forego any significant tax income, they would rather build cross boarder alliances in order to set up a tax regime that ensures nobody can get away with amassing wealth while not paying any tax.

Please elaborate further once more for me: so you say that when I buy Bitcoin at 10,000 a piece, and I use that Bitcoin to buy a car for 20,000 a piece, should I, according to your viewpoint, be taxed by my government or not? Could you give one or two examples when you think a tax should apply and when not?

[theCommittalist]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

As much as I would like to let you know that I fully agree, the issue with what you just said is that it is unrealistic for Bitcoin to develop into its own economic system without any tax burdens whatsoever. I would rather say that whatever generates income is taxable (under most circumstances). If Bitcoin makes you income, a tax applies. I don't think a world would work out properly without taxes. There was an interesting sentence a while ago about the rich saying they are fine with higher taxes and carry a heavier burden than the poor. Then it was added that the state donation account was just in the thousands. If the millionaires and billionaires are fine with higher taxes, why not just send money to that state controlled donation account? In a sense it is the same when I am fine with higher tax, I can either pay higher tax or impose a tax on myself through donations that I commit to. Yet that account is usually literally empty. People aren't going to support public goods the way we wish they were. Economic self-interest isn't bad per se, but it needs moderation and coordination. Tax is a tool to achieve that. I am not saying I am all for taxes in whatever form they occur, but I don't see how an economic system would support a social system without taxation requirements.

Sure they can tax associated income as you say in the form of capital gains or whatever, but my broad point still stands. Bitcoin itself as a standalone thing, unlike any other currency, cannot be claimed & thus taxed by a state agency. It relies on the internet & belongs to the users. Think about a state agency claiming jurisdiction over the internet & trying to tax Bitcoin like they do national currencies, I think that is unrealistic.

I totally get what you are saying and I am not arguing against your point from a theoretical perspective. The reality, however, will turn out to be quite different. Before the governments forego any significant tax income, they would rather build cross boarder alliances in order to set up a tax regime that ensures nobody can get away with amassing wealth while not paying any tax.

Please elaborate further once more for me: so you say that when I buy Bitcoin at 10,000 a piece, and I use that Bitcoin to buy a car for 20,000 a piece, should I, according to your viewpoint, be taxed by my government or not? Could you give one or two examples when you think a tax should apply and when not?

Simply put, if two traders anywhere on earth decide to buy/sell a car in Bitcoin, then they cannot be taxed. The caveat I am trying to add is that once people establish a business based in one or another national jurisdiction doing this then they can be taxed. Also, once people trade their Bitcoin in for any national currency the state agency responsible may impose income or capital gains tax on that. But as long as Bitcoin remains Bitcoin & in the hands of private individuals it cannot & should not be taxed. From my understanding the logic of taxation is that in partaking of a national economy & its exchange medium or currency you are using a service & there is an implied cost. The amount & kind of taxation that is acceptable will probably be the stuff of intense debate for all posterity. But to tax Bitcoin as is you would have to be the centrist state agency ruling over its jurisdiction which is the internet hence it is able to be 'decentralised'. I am not saying that state agencies would never be able to extort or steal Bitcoin & call it taxation because unfortunately anything is possible, but that it will never transparently become standard practice overall because it is contrary to legitimate authority & unethical. This is why the established 'international order' & crony capitalists & their state media have been sidestepping BTC until lately when they have started throwing all manner of kind of childish FUD its way. They don't understand it. It scares them. The opportunity for universal profiteering is unprecedented & the sleepers & party poopers are being forced to reveal themselves 

[Vaskiy]

The adoption of bitcoin is taking place all around. But the level of adoption is happening in a much slower phase due to the opposition from the governments. Slowly some countries that made bans over cryptocurrency have started to regulate the usage of bitcoin. However some countries have made it a difficult thing for the common people using cryptocurrencies. Heavy taxation too can affect the adoption.

Once after the pandemic the usage of cryptocurrency all around the world have increased. This has happened in terms of real-time usage as well as in terms of trading volume increase. During the same time period India was recorded to have the increase of 100 million users. I'm not sure of this data, but the 30% tax on cryptocurrency as well as 1% tax per transaction have slump the trading volume on the Indian cryptocurrency exchanges. The law came into effect on 1st July and since then the average trading volumes have come down to $5.6million from the range of $9.5million.

[coupable]

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

I find it a good example when you compare the situation of Bitcoin with that of hemp, where it has been demonized since its appearance and given greater responsibilities than it is, such as that it contributes to the responsibility for the global warming of the planet, forgetting the industries that produce a huge amount of carbon dioxide and how criminals and money launderers use it as if other currencies did not They are used for the same purposes. Cannabis has for decades been shunned as a narcotic that corrupts minds, forgetting its properties as a medicinally beneficial plant, which has made it a profitable commodity in the hands of gangs, criminals and all outlaws. And just as we started almost a decade ago to return cannabis to the white market and benefit from it in regulated legal frameworks, Bitcoin has already begun the journey to surface legally after the journey of demonization.

[Lanatsa]

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

I find it a good example when you compare the situation of Bitcoin with that of hemp, where it has been demonized since its appearance and given greater responsibilities than it is, such as that it contributes to the responsibility for the global warming of the planet, forgetting the industries that produce a huge amount of carbon dioxide and how criminals and money launderers use it as if other currencies did not They are used for the same purposes. Cannabis has for decades been shunned as a narcotic that corrupts minds, forgetting its properties as a medicinally beneficial plant, which has made it a profitable commodity in the hands of gangs, criminals and all outlaws. And just as we started almost a decade ago to return cannabis to the white market and benefit from it in regulated legal frameworks, Bitcoin has already begun the journey to surface legally after the journey of demonization.

We cant really tell yet but it could really able to sustain after all of those negativities that its been experiencing which is something not surprising for government or those fiat believers to throw off against Bitcoin.

There's always an opposite into something which had existed and really focused out or have those features or quality that it isnt really that appealing into their eyes specially on something  that cant really be controlled.

You could really hear off those emphasis of its negatives rather than saying on both pro's and cons which usually make people believe that it was totally true but well its not really that a worrisome thing
because people would eventually find out the truth and the real thing which it wont really completely stop towards in overall progress and acceptance of it.

[theCommittalist]

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

I find it a good example when you compare the situation of Bitcoin with that of hemp, where it has been demonized since its appearance and given greater responsibilities than it is, such as that it contributes to the responsibility for the global warming of the planet, forgetting the industries that produce a huge amount of carbon dioxide and how criminals and money launderers use it as if other currencies did not They are used for the same purposes. Cannabis has for decades been shunned as a narcotic that corrupts minds, forgetting its properties as a medicinally beneficial plant, which has made it a profitable commodity in the hands of gangs, criminals and all outlaws. And just as we started almost a decade ago to return cannabis to the white market and benefit from it in regulated legal frameworks, Bitcoin has already begun the journey to surface legally after the journey of demonization.

I appreciate that you are perceptive enough to pick up on this yourself. For me, there is some strange timeless synergy going on between hemp cannabis and Bitcoin right now that is a generational thing. It is a millennial & post-millennial kind of digital enlightenment, & the old-timers who have had their revolution & rebelled against their predecessors don't seem to like it. It smacks of simple jealousy, unfortunately. I understand that none of us are getting any younger & that it may be hard not to let ageing & the onset of death make you bitter but we have to try to live & let live, move over & let the heirs apparent come into their own.

I would like to see the vets & cronies have a bit more faith in currency & life & a legacy of greater health & wealth all round.

Like you say, both cannabis & Bitcoin are profoundly misunderstood & demonized by fools & deceivers alike, & it all seems some sort of existential crisis about the human condition, where the oldest & most socially entrenched are influencing what would otherwise be a joyful & liberated new kind of global society with a kind of saturnine misery-guts sort of response to things that are associated with pace & spontaneity, healing & empowerment. Anti-committalists I call them, usually disguising themselves with critique of either communism or capitalism.

[Bambozled]

Imo, there are 3 main reasons acting as barrier for worldwide adoption of bitcoin:
Regulations

Volatility

Security

[dataispower]

Imo, there are 3 main reasons acting as barrier for worldwide adoption of bitcoin:
Regulations

Volatility

Security

Yes, I agree with you. But I want to add one more thing. So, lately various "crypto bets" have become popular, which just kill bitcoin. Don't think of it as advertising. I have noticed that this sphere is negatively affecting bitcoin. I really don't know why, but it is so annoying! I don't like these bitcoin games and stuff like that because it just kills the value of cryptocurrency. Also, these crypto staking sites are bad for the reputation of cryptocurrencies! What do you think about this?

cryptocurrency bet is now popular but it will not cryptocurrency neither bring cryptocurrency to the world and people will cryptocurrency very well, crypto bet is like another way of showing people the values of cryptocurrency and bitcoin. I have not notice anything wrong by using cryptocurrency for betting. If you bet with cryptocurrency it will not affect cryptocurrency or either bitcoin in any ways. I know that bitcoin is want to be regarded as fiat currencies functions and usage in the society. Bringing up such ideas that it will kill bitcoin is bad ideas from the way i understand it

[bestcoins1]

Imo, there are 3 main reasons acting as barrier for worldwide adoption of bitcoin:
Regulations

Volatility

Security

These three things actually have their own criteria and descriptions. Because in terms of security, Bitcoin is clearly very safe to be used by anyone even though it can't be used for all purposes and for Volatility it's also not so bad even though it had experienced bigger changes in a certain period. However, for regulation, I think it clearly needs to be adjusted again because every country in the world already has its own rules which are generally used by citizens of their respective countries.

[danadc]

I agree and it is also psychologically hard to adopt a change that will fundamentally change the way people store value and perform payments.
You see.. humans have anxiety systems that ideally should help them identify danger. Changing the financial system from its foundation is indeed  something that provokes a lot of thoughts. But that is not a bad thing. it just means we need to take our time and not hurry when making important decisions.

Most people learn the hard way, there is no other way, when people who didn't believe in Bitcoin see when it goes over 100,000 dollars they will want to enter anyway, but they have to gather all that money to have 1BTC, it doesn't matter I know that many will buy very expensive for then when the price drops a little they will pray for it to grow again, that is what happened in 2018 when bitcoin fell to almost 2000 dollars, there were many who bought almost 20,000 dollars, many cried and they sold cheap, if they bought for 20,000 dollars for nothing in the world I would sell for less than that.

[Fernando Gomez]

Though security, volatility and regulations have their own certain criteria which doesn’t imply that they are not the barriers for worldwide adoption of bitcoin.
Though many countries have passed legal tender, legalising bitcoin. But in certain countries bitcoin is not illegal but they have also not legalised them. Some countries like the UK have regulated cryptocurrency but are advocating against cryptos.
Cryptos are not governed by any authority which means that these can be highly volatile.
There are many cyber attacks and scams going on which suggest that bitcoin is not 100% secured.
It is okay for cryptos to be risky, so are the other markets.

[TheNineClub]

It's transparency and centralization, it has always been. Governments and users require stability and someone that can guarantee some safety on their investments, and governments can do that, but that would mean BTC has to relinquish its autonomy. Now, we're at the crossroads and need to decide, do we want a real ungoverned currency, or do we want something that acts in the manner of the old curencies? The first would mean autonomy, but less money for the investors and the second would mean no autonomy, lasers from eyes, Lambos to the moon, and all the other bullshit you hear online.

[shogun47]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after. 

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

As much as I would like to let you know that I fully agree, the issue with what you just said is that it is unrealistic for Bitcoin to develop into its own economic system without any tax burdens whatsoever. I would rather say that whatever generates income is taxable (under most circumstances). If Bitcoin makes you income, a tax applies. I don't think a world would work out properly without taxes. There was an interesting sentence a while ago about the rich saying they are fine with higher taxes and carry a heavier burden than the poor. Then it was added that the state donation account was just in the thousands. If the millionaires and billionaires are fine with higher taxes, why not just send money to that state controlled donation account? In a sense it is the same when I am fine with higher tax, I can either pay higher tax or impose a tax on myself through donations that I commit to. Yet that account is usually literally empty. People aren't going to support public goods the way we wish they were. Economic self-interest isn't bad per se, but it needs moderation and coordination. Tax is a tool to achieve that. I am not saying I am all for taxes in whatever form they occur, but I don't see how an economic system would support a social system without taxation requirements.

Sure they can tax associated income as you say in the form of capital gains or whatever, but my broad point still stands. Bitcoin itself as a standalone thing, unlike any other currency, cannot be claimed & thus taxed by a state agency. It relies on the internet & belongs to the users. Think about a state agency claiming jurisdiction over the internet & trying to tax Bitcoin like they do national currencies, I think that is unrealistic.

I totally get what you are saying and I am not arguing against your point from a theoretical perspective. The reality, however, will turn out to be quite different. Before the governments forego any significant tax income, they would rather build cross boarder alliances in order to set up a tax regime that ensures nobody can get away with amassing wealth while not paying any tax.

Please elaborate further once more for me: so you say that when I buy Bitcoin at 10,000 a piece, and I use that Bitcoin to buy a car for 20,000 a piece, should I, according to your viewpoint, be taxed by my government or not? Could you give one or two examples when you think a tax should apply and when not?

Simply put, if two traders anywhere on earth decide to buy/sell a car in Bitcoin, then they cannot be taxed. The caveat I am trying to add is that once people establish a business based in one or another national jurisdiction doing this then they can be taxed. Also, once people trade their Bitcoin in for any national currency the state agency responsible may impose income or capital gains tax on that. But as long as Bitcoin remains Bitcoin & in the hands of private individuals it cannot & should not be taxed. From my understanding the logic of taxation is that in partaking of a national economy & its exchange medium or currency you are using a service & there is an implied cost. The amount & kind of taxation that is acceptable will probably be the stuff of intense debate for all posterity. But to tax Bitcoin as is you would have to be the centrist state agency ruling over its jurisdiction which is the internet hence it is able to be 'decentralised'. I am not saying that state agencies would never be able to extort or steal Bitcoin & call it taxation because unfortunately anything is possible, but that it will never transparently become standard practice overall because it is contrary to legitimate authority & unethical. This is why the established 'international order' & crony capitalists & their state media have been sidestepping BTC until lately when they have started throwing all manner of kind of childish FUD its way. They don't understand it. It scares them. The opportunity for universal profiteering is unprecedented & the sleepers & party poopers are being forced to reveal themselves 

I totally get your thought process, but let me give you an example which would like you to elaborate on according to your theory:

In some countries there is such a thing as a gift tax. Without going into further detail regarding concrete numbers in specific countries, let's just assume that Bitcoin is valued at 20,000 USD and a person I know well has a piece of art that is officially valued at 10,000 USD and we know that because that piece of art is a limited edition of 100 pieces and there is a relatively liquid market where I could also buy that piece of art in cash for 10,000 USD. But since I know the person well, I make a private transaction and pay with the Bitcoin valued at 20,000 USD. On on the balance sheet that person now officially owns 10,000 USD more in wealth. Later on, that person doesn't sell the Bitcoin for cash but buys a car valued at around 20,000 USD in a private transaction from someone else.

As per the balance sheet, the person accrued 10,000 USD in wealth. Is any tax due according to your point of view? Wouldn't that be one of those typical loopholes people could make use of just by not going through a state controlled fiat currency?

Although I myself do by far not agree with many of the existing tax rules, the real question is how Bitcoin is treated in front of the (tax)law. There are rules in some countries when tax exemption applies for the usage or sale of Bitcoin after a certain period of time. The same applies to a piece of art. If I buy a piece of art for 100,000 USD and sell it for 200,000 USD a week later, usually tax applies in the form of capital gains tax. It doesn't matter what I buy with the piece of art, tax applies for as long as the thing is worth more than what I bought my piece of art for initially.

To take it one step further: one could argue that tax is supposed to be used for the infrastructure I make use of in the country I live. Streets, hospitals, schools, etc. Now an interesting question is this: if you argue that Bitcoin is decentralized in its trust sense, what if I live in a country that provided a substantial amount of mining power? Am I not somehow using or benefitting from infrastructure that my country provides in the form of electricity grids, space, ISPs, etc? The problem is that things get too complex.

[Thara20]

There are many causes for this, but the price volatility of cryptocurrencies is one of the main obstacles to widespread adoption. The total supply of the majority of cryptocurrencies is fixed, but due to speculation, the demand for the coins is unpredictable and constantly changing.

Additionally, despite the fact that a number of nations have recently published frameworks and laws to establish a comprehensive set of rules for the trading and use of cryptocurrencies, the majority of nations haven't offered any specific instructions on how the general public should use them. It is therefore challenging to achieve mass adoption.

[BALIK]

Once after the pandemic the usage of cryptocurrency all around the world have increased. This has happened in terms of real-time usage as well as in terms of trading volume increase. During the same time period India was recorded to have the increase of 100 million users. I'm not sure of this data, but the 30% tax on cryptocurrency as well as 1% tax per transaction have slump the trading volume on the Indian cryptocurrency exchanges. The law came into effect on 1st July and since then the average trading volumes have come down to $5.6million from the range of $9.5million.

30% is clearly too much of a tax for investors. In my opinion, the Indian government does not want to legalize and regulate crypto instead they are looking for ways to discourage people from getting into crypto, giving up crypto when the above tax is imposed.

With the 30% tax, the trading volume on exchanges will decrease but it does not mean that Indian investors will give up on cryptocurrencies, It will force them to find other ways of trading, such as peer-to-peer. This will cost the government a portion of its taxes and they will soon find that the plan failed and backfired.

[theCommittalist]

But do you know if you today Government and World Bank passes judgement or gives order that Bitcoin is now generally acceptable as payment in all various country, use as fiat including in day life expenses, individuals has no options than to use, now taking of transactions fees it is only less than $1 and max of $2.5 depending on the gas fee at such point. As time goes we could be used to it.,
The honest truth of it is the "Volatility".  

I believe that the laws are fine, the gas fee situation will be fixed in the future for sure without a doubt. Look at Lightning Network on bitcoin right now, it spends only a few satoshis and it is incredibly fast as well.

It is not ideal right now because of security concerns and that is why we are not seeing that everywhere, but it is being worked on right now which means that when the time comes we are going to have a system where it's only like 1-5 cents per transaction and that would be amazing and it could be working towards paying right away anywhere you go as well since you wouldn't have to wait neither, it is both fast and cheap.

The laws are fine? I would rather say that laws are clearly insufficient in most cases or not very favorable regarding crypto to say the least. Actually, from where we are now I expect laws to get even worse over time, much stricter and kind of hindering worldwide adoption in some areas. Bitcoin's utility is massively suppressed by most tax laws around the world for example. If spending Bitcoin on little things even triggers taxable events, using Bitcoin would end in a total mess for most users.

They should rather foster utility with new laws while offering Bitcoin users a fair deal in terms of transparency and taxation, but that is not what lawmakers are after.  

This is the most interesting thing about Bitcoin. It is beyond the current system of 'international law' to control. All it is is a currency, & this is a system that declares the world as capitalist, themselves as liberal. So, a currency made of open-source technology based on the internet, what nation has a right to tax that? Sure, different nations can try banning it or regulating mining or taxing profits made from Bitcoin via exchanges or transactions under their jurisdiction, but what other than cronyism & pessimism & greed could be their motive? What ethical basis can there possibly be for criminalizing or legislating BTC? You can see how desperate & unscrupulous they are when they start blaming it for global warming =/

Fact is, nobody has a right to police the internet. It is in international waters, so to speak. And internet currency has made everyone take this more seriously than ever, so that workable international law & the international constitution necessary to base it on are appearing on the horizon like never before. Some people dream of this signalling a totalitarian new world order, because of their subjective experiences with national governments & regimes of the past. But I have faith in the people. As cannabis returns to the white market for global trade & Bitcoin is increasingly established as a worldwide medium of exchange, poverty everywhere is going to decrease.

As much as I would like to let you know that I fully agree, the issue with what you just said is that it is unrealistic for Bitcoin to develop into its own economic system without any tax burdens whatsoever. I would rather say that whatever generates income is taxable (under most circumstances). If Bitcoin makes you income, a tax applies. I don't think a world would work out properly without taxes. There was an interesting sentence a while ago about the rich saying they are fine with higher taxes and carry a heavier burden than the poor. Then it was added that the state donation account was just in the thousands. If the millionaires and billionaires are fine with higher taxes, why not just send money to that state controlled donation account? In a sense it is the same when I am fine with higher tax, I can either pay higher tax or impose a tax on myself through donations that I commit to. Yet that account is usually literally empty. People aren't going to support public goods the way we wish they were. Economic self-interest isn't bad per se, but it needs moderation and coordination. Tax is a tool to achieve that. I am not saying I am all for taxes in whatever form they occur, but I don't see how an economic system would support a social system without taxation requirements.

Sure they can tax associated income as you say in the form of capital gains or whatever, but my broad point still stands. Bitcoin itself as a standalone thing, unlike any other currency, cannot be claimed & thus taxed by a state agency. It relies on the internet & belongs to the users. Think about a state agency claiming jurisdiction over the internet & trying to tax Bitcoin like they do national currencies, I think that is unrealistic.

I totally get what you are saying and I am not arguing against your point from a theoretical perspective. The reality, however, will turn out to be quite different. Before the governments forego any significant tax income, they would rather build cross boarder alliances in order to set up a tax regime that ensures nobody can get away with amassing wealth while not paying any tax.

Please elaborate further once more for me: so you say that when I buy Bitcoin at 10,000 a piece, and I use that Bitcoin to buy a car for 20,000 a piece, should I, according to your viewpoint, be taxed by my government or not? Could you give one or two examples when you think a tax should apply and when not?

Simply put, if two traders anywhere on earth decide to buy/sell a car in Bitcoin, then they cannot be taxed. The caveat I am trying to add is that once people establish a business based in one or another national jurisdiction doing this then they can be taxed. Also, once people trade their Bitcoin in for any national currency the state agency responsible may impose income or capital gains tax on that. But as long as Bitcoin remains Bitcoin & in the hands of private individuals it cannot & should not be taxed. From my understanding the logic of taxation is that in partaking of a national economy & its exchange medium or currency you are using a service & there is an implied cost. The amount & kind of taxation that is acceptable will probably be the stuff of intense debate for all posterity. But to tax Bitcoin as is you would have to be the centrist state agency ruling over its jurisdiction which is the internet hence it is able to be 'decentralised'. I am not saying that state agencies would never be able to extort or steal Bitcoin & call it taxation because unfortunately anything is possible, but that it will never transparently become standard practice overall because it is contrary to legitimate authority & unethical. This is why the established 'international order' & crony capitalists & their state media have been sidestepping BTC until lately when they have started throwing all manner of kind of childish FUD its way. They don't understand it. It scares them. The opportunity for universal profiteering is unprecedented & the sleepers & party poopers are being forced to reveal themselves  

I totally get your thought process, but let me give you an example which would like you to elaborate on according to your theory:

In some countries there is such a thing as a gift tax. Without going into further detail regarding concrete numbers in specific countries, let's just assume that Bitcoin is valued at 20,000 USD and a person I know well has a piece of art that is officially valued at 10,000 USD and we know that because that piece of art is a limited edition of 100 pieces and there is a relatively liquid market where I could also buy that piece of art in cash for 10,000 USD. But since I know the person well, I make a private transaction and pay with the Bitcoin valued at 20,000 USD. On on the balance sheet that person now officially owns 10,000 USD more in wealth. Later on, that person doesn't sell the Bitcoin for cash but buys a car valued at around 20,000 USD in a private transaction from someone else.

As per the balance sheet, the person accrued 10,000 USD in wealth. Is any tax due according to your point of view? Wouldn't that be one of those typical loopholes people could make use of just by not going through a state controlled fiat currency?

Although I myself do by far not agree with many of the existing tax rules, the real question is how Bitcoin is treated in front of the (tax)law. There are rules in some countries when tax exemption applies for the usage or sale of Bitcoin after a certain period of time. The same applies to a piece of art. If I buy a piece of art for 100,000 USD and sell it for 200,000 USD a week later, usually tax applies in the form of capital gains tax. It doesn't matter what I buy with the piece of art, tax applies for as long as the thing is worth more than what I bought my piece of art for initially.

To take it one step further: one could argue that tax is supposed to be used for the infrastructure I make use of in the country I live. Streets, hospitals, schools, etc. Now an interesting question is this: if you argue that Bitcoin is decentralized in its trust sense, what if I live in a country that provided a substantial amount of mining power? Am I not somehow using or benefitting from infrastructure that my country provides in the form of electricity grids, space, ISPs, etc? The problem is that things get too complex.

I understanding the sort of assumptions you are bringing to the argument, but I would like to continue demolishing at least a couple of them To deal with the case of a purchase of art, it doesn't make any sense. Shady art valuations & purchases have long been used as a means of money laundering & art is an emotive quality. So you seem to be suggesting that a person uses the buying of a piece of art in Bitcoin as a means to protect fiat from the tax inspector? Well for starters, if I had a friend offering me a piece of valuable art for $10,000 & Bitcoin was worth $20,000 that day, I would clearly pay him 0.5 Bitcoin for the item. Not the whole Bitcoin, which would defeat the double-send solution by paying twice anyway. What my friend did with his 0.5 Bitcoin would be up to him.

As we know there are certain state actors that are however privately committed to the obnoxious notion that they 'rule the waves' or 'lead the free world' & so they may think they have a right to tax Bitcoin, because without them & their culture such a thing might not exist.

My solution is to not justify them with a response & continue with the project of universal suffrage & popular sovereignty, whatever they call these things. It is not that a decentralisation movement for individualist internationalism is solely coming from the creation of such currency. But that such currency is an integral part of that wider historical process.

Like the Zen masters say, life is really simple, but analytical thinking has a habit of making it seem complicated

[seYGrdh]

I think part of the reason is that there are still some people who don't understand what Bitcoin is, and there are other countries that prohibit the operation of Bitcoin, which is the most important point.

[Ayers]

I think part of the reason is that there are still some people who don't understand what Bitcoin is, and there are other countries that prohibit the operation of Bitcoin, which is the most important point.

it is up to the government, the government is the one who runs and manages a country, they are the one who decide what is used and what is not used in their country

many people do not know bitcoin or they are not willing to learn about bitcoin because of the warnings from the government, as long as the government accepts bitcoin everything will become easier with bitcoin

[GigaBit]

There is one barrier is that the government does not want to allow it. Because they cannot take any tax on it nor has yet determined how to accomplish it. However, I personally think that such a policy by the government will be difficult to implement, which will hinder the development of cryptocurrencies. Government in India has legalized cryptocurrency investment but not yet legalized as a legal tender. Hopefully when the government of each country gives a positive opinion on it, all the obstacles of BTC will be over.

[Abiky]

it is up to the government, the government is the one who runs and manages a country, they are the one who decide what is used and what is not used in their country

many people do not know bitcoin or they are not willing to learn about bitcoin because of the warnings from the government, as long as the government accepts bitcoin everything will become easier with bitcoin

Governments are the main obstacles preventing Bitcoin from reaching worldwide adoption. They implement strict rules that would force the average person to stay with Fiat. Governments do this because they want to stay in power. Otherwise, it would mean the end of Fiat for good. Despite the setbacks, adoption for Bitcoin has been growing at a slow and steady pace. Fiat's inflation rates are rising like crazy in some countries, so it should only be a matter of time before Bitcoin becomes the standard unit of account.

As it's said in the real world, "if you can't beat them, join them". I think governments will ultimately give up on their quest to "destroy" Bitcoin and instead join the revolution. Who knows if mainstream adoption explodes like crazy within the not-so-distant future? Just my opinion

[Tony116]

it is up to the government, the government is the one who runs and manages a country, they are the one who decide what is used and what is not used in their country

many people do not know bitcoin or they are not willing to learn about bitcoin because of the warnings from the government, as long as the government accepts bitcoin everything will become easier with bitcoin

Governments are the main obstacles preventing Bitcoin from reaching worldwide adoption. They implement strict rules that would force the average person to stay with Fiat. Governments do this because they want to stay in power. Otherwise, it would mean the end of Fiat for good. Despite the setbacks, adoption for Bitcoin has been growing at a slow and steady pace. Fiat's inflation rates are rising like crazy in some countries, so it should only be a matter of time before Bitcoin becomes the standard unit of account.

As it's said in the real world, "if you can't beat them, join them". I think governments will ultimately give up on their quest to "destroy" Bitcoin and instead join the revolution. Who knows if mainstream adoption explodes like crazy within the not-so-distant future? Just my opinion

If they stop trying to destroy bitcoin and join the bitcoin revolution, that means the government will give up its power. I don't think they will, the government will find a way to control bitcoin before accepting it as legal, but control is also a very difficult task because of the decentralized nature of bitcoin.

The way I think in the future accepting bitcoin comes with thousands of different regulations and they will probably rely on centralized exchanges to manage bitcoin users instead of finding a way to control bitcoins directly.

[nullama]

There is one barrier is that the government does not want to allow it. Because they cannot take any tax on it nor has yet determined how to accomplish it. However, I personally think that such a policy by the government will be difficult to implement, which will hinder the development of cryptocurrencies. Government in India has legalized cryptocurrency investment but not yet legalized as a legal tender. Hopefully when the government of each country gives a positive opinion on it, all the obstacles of BTC will be over.

A government cannot stop the use of Bitcoin basically. And most western countries do tax Bitcoin in the sense that they consider it an asset, similar to having shares, or an index fund for example. You need to pay capital gains tax on Bitcoin in many countries. Also if you're paid in Bitcoin you have to pay income tax. Basically they treat it the same as any other financial instrument.

At the end of the day you could live your life with just Bitcoin if you sell goods and services and get paid in Bitcoin and you pay your bills in Bitcoin (which would be other people offering goods and services for Bitcoin). And there's nothing the government could do to stop that.

[amishmanish]

Mostly it is lack of education of Bitcoin. People have heard about Bitcoin, but never know it. They don't know what it is. They don't know how to read a smart contract, and how to get Bitcoins. Thanks to trading platform people are now buying Bitcoins, if not mining them. But yes it's a long way to go before Bitcoin can actually become a true digital currency for common people

[nullama]

Mostly it is lack of education of Bitcoin. People have heard about Bitcoin, but never know it. They don't know what it is. They don't know how to read a smart contract, and how to get Bitcoins. Thanks to trading platform people are now buying Bitcoins, if not mining them. But yes it's a long way to go before Bitcoin can actually become a true digital currency for common people

Yeah, I absolutely agree with that.

I would argue that the vast majority of people in the world that are somehow involved in Bitcoin are basically simply Bitcoin buyers. They just create an account in an exchange, and buy Bitcoin that stays there, like an index fund for example.

There's only a small fraction of those people who actually know a bit more about Bitcoin, have their own wallets, keep it secure, and use it for buying goods and services, as well as a savings mechanism.

But I believe that small number is increasing every year, and it will continue, accelerated by the new ATHs we will continue to see.

[Abiky]

If they stop trying to destroy bitcoin and join the bitcoin revolution, that means the government will give up its power. I don't think they will, the government will find a way to control bitcoin before accepting it as legal, but control is also a very difficult task because of the decentralized nature of bitcoin.

The way I think in the future accepting bitcoin comes with thousands of different regulations and they will probably rely on centralized exchanges to manage bitcoin users instead of finding a way to control bitcoins directly.

It's very unlikely governments will give up their power just like that. What they will do is "regulate" Bitcoin and other cryptocurrencies through centralized exchanges and wallet service providers. It's the least they can do in order to try to "legitimize" the space. But they cannot enforce regulations at the network level because of its decentralized and censorship-resistant design. Consider how US sanctions took down the Tornado.Cash website and its GitHub repository. They thought they were successful at the task, only to realize that the smart contracts are still living on the ETH chain. It would be impossible to take down such contracts because of the decentralized design of the Ethereum blockchain. The only way to "kill" Tornado.Cash would be rolling back the Blockchain, but that would require a supermajority of miners to agree to such resolution (which it's very unlikely it'll happen anytime soon). Imagine how hard it would be to do the same with Bitcoin whose Blockchain is bigger and more distributed than Ethereum's. That's why I believe decentralized cryptocurrencies will be here to stay for a very long time.

Bitcoin's adoption may be limited right now, but it's bound to increase over time at a slow and steady pace. As I've said before, the main obstacle of Bitcoin's adoption worldwide is the government. I wouldn't worry about that as long as decentralization prevails in the end. Just my thoughts