Why #Bitcoin adoption becomes hard for most people?
Here is my top 5 reasons.
-Legal aspect. There is the perception among the people that #Bitcoin is something illegal because of the media spreading information about the potential it has for criminal transactions purposes.
-Wallet confusion. There are many, MANY wallets that can be used for #Bitcoin transactions, the great diversity makes it confusing because many questions come up the deeper someone goes in the subject.
-Basic knowledge of informatics and cyber security. Nevertheless the wallet used, it is necessary to understand the #blockchain technology to actually know what's going on. The cautions announced about being careful when using #Bitcoin generate alerts and therefore fear for not feeling secure in the Internet. This learning curve is challenging and intimidating for most people.
-Lack of knowledge about the gaps shown by the fiat financial system. As it is said in social media: #Bitcoin is everything you don't understand about finances together with everything you don't know about informatics.
-Transaction fees. Although it is said that transaction fees are low, they really depend on the high or low network traffic, which makes relatively low transactions to be relatively high in costs.
What else do you think makes Bitcoin hard to adopt? 🤔
romhero / Romhero
npub14w…rey8x
2024-08-26 08:14:57
Author Public Key
npub14wpw0xd86x05wj0449wm3xcnjhxc88zpka6s03634dg2034kl97qarey8xPublished at
2024-08-26 08:14:57Event JSON
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"content": "Why #Bitcoin adoption becomes hard for most people?\n\nHere is my top 5 reasons.\n\n-Legal aspect. There is the perception among the people that #Bitcoin is something illegal because of the media spreading information about the potential it has for criminal transactions purposes.\n\n-Wallet confusion. There are many, MANY wallets that can be used for #Bitcoin transactions, the great diversity makes it confusing because many questions come up the deeper someone goes in the subject.\n\n-Basic knowledge of informatics and cyber security. Nevertheless the wallet used, it is necessary to understand the #blockchain technology to actually know what's going on. The cautions announced about being careful when using #Bitcoin generate alerts and therefore fear for not feeling secure in the Internet. This learning curve is challenging and intimidating for most people.\n\n-Lack of knowledge about the gaps shown by the fiat financial system. As it is said in social media: #Bitcoin is everything you don't understand about finances together with everything you don't know about informatics.\n\n-Transaction fees. Although it is said that transaction fees are low, they really depend on the high or low network traffic, which makes relatively low transactions to be relatively high in costs.\n\nWhat else do you think makes Bitcoin hard to adopt? 🤔",
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