One of the popular thoughts and beliefs on crypto especially Bitcoin. The belief is that Bitcoin should be the main money system in the world for getting goods and services vs just being a store of value. All of these ideas are written in the Bitcoin white paper.
Reasons for Bitcoin is the constant ever growing amount of inflation that the current fiat systems of money that create for majority of the populations.
However many have to realize that there are limitation from this happening. Not saying that it could or will happen though.
For Bitcoin or any other new system to come into effect we need to have majority of the population to use and accept such a system.
There are a many things standing in the way of this. One of those limitations is that there is 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.
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.
Many people believe everything they hear and see on social media and accept that as the main truth to anything without having the proper references to the actual facts.
Another situation is that most people do not understand how the current money system works. The current system of money has been used for many generations, however many people do not understand how it works. Nor do many people care to learn about. Many people do not see the current inflation growth as something to do with the money system.
Of course the current inflation is of something very complicated and goes back to over a hundred years in many ways.
At one time, 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.
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.
For most part many people do not see the potential of Bitcoin and the benefits it can bring to everyone else. There has been now a reputation of it being just a rich man’s money. With the fact that more of the rich whales and corporations getting involved and talking about it more. Which other people will see this as intimidation and stay clear away from this new money system.
In some ways this is good for crypto if the larger companies are getting involved as it could help adoption. Then again it could work against it as well.
In general I think it will take sometime for more adoption of Bitcoin to happen, if any at all.
What do you think is needed to not scare people away from crypto. Also what can be done to encourage people to at least take a moment to learn a bit more on the money system and understand how the inflation is happening. This of course will only need to change some people’s mindset on matters.
What are your thoughts on this?
