The older generation simply does not trust him and believes that the bubble will soon burst. Many did not even hear about bitcoin. And some poorly developed countries do not have a stable Internet for using this currency.
Definitely. I think one of the huge problems that bitcoin face is that it is one of a kind. Nothing of its kind has ever existed before.
If you ask anyone in the older genertaion, 50+ years old, they'll question you.
A typical dinner table discussion with my family:
"Dad, i'm using this bitcoin thing, it's really cool, it's decentralized, anonymous, and safe, and you have full control over your money!"
"Bitcoin? Isn't that the currency used to buy drugs and stuff from the deep web? And nobody owns it, the owner's pretty much dead right now and once you lose your login details, you're screwed?"
We need more education of the public about bitcoin. More awareness.