What's preventing bitcoin from worldwide adoption?

[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

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[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.