This question has been raised several times, and I have noticed that some people conclude that the lack of adoption is due to people not understanding Bitcoin or seeing it as a scam.
But I don't think the world still views Bitcoin as a bad thing today, though I know a lot of you thought that, but it is not the case.
I feel the reason for the low rate of adoption is just because people think it's not for them. Bitcoin has been around for over a decade, and any thought that most people would have had about it being a scam must have faded by now.
But at the same time, if you look at it, Bitcoin is a risky business; if you invest money, there are two possibilities: it will either yield profits or losses. Many people today are not fans of investment, not to mention buying assets that heavily fluctuate in price. They would choose to save money earned from hard work, and a few might invest in low-risk markets, even though inflation is still eating them up.
So it would be hard for them to consider holding Bitcoin to use it daily.
Nevertheless, the community is still growing bigger 💗, and people's interest in Bitcoin and cryptocurrency keeps growing.
No longer scam I guess; this technology has proven itself already. However, not all people would be interested investing in a too volatile asset no matter how high the profit potential is, and that is absolutely okay. With regards to adoption, I'd say it became slower than before but that is just fine as well. Even in this forum, for sure most of us are using cryptocurrency not as a mode of payment but as an investment to make use of the volatile market prices.Over the years, the market value have been increasing and falling. And if you are an investor who is here because of the hype and not because you know what you are trying to deal with, the cycle would continue. This kind of investment is not for everyone.