But what percentage of the world's population will actually care about the tech underneath it all, when all they want is convenience. I'm fascinated by the tech, don't get me wrong. But discussing it with another tech enthusiast made me actually question if large scale adoption will happen at all, just because of the convenience factor. Yep there is always a tradeoff between convenience and privacy. What is convenient isn't private. But where is the balance?
What percentage of the world's population was concerned with the transition from the old financial system to the banking system?
Before banks, there were traditional methods of paying by means of metal money directly without the presence of banks. When banks appeared, they did not gain people's trust immediately, and there was fear by people of losing their money if they deposited it in banks.
Later, when the banking system was adopted and spread widely, people understood that this is better, easier, and more comfortable for them than the old system, and their money was also secured by the governments that adopted the banking system.
The same thing is happening now, people are afraid of bitcoin because it is new, volatile and not supported by governments, but later if adoption takes place by governments with the provision of the necessary infrastructure for easy payment of simple daily transactions, people will rush to accept the new technology with the great features found in bitcoin.