What's preventing bitcoin from worldwide adoption?

[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.

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[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.