Quote from: Hatchy on August 29, 2024, 06:28:57 PM

First off, adoption is a significant challenge facing Bitcoin. Many people are misinformed about investing in cryptocurrency, thinking it's an online scam.

Another part of people is misinformed in that they consider bitcoin to be an instant means of enrichment, ensuring the receipt of a Lambo and an island in the Caribbean.

Quote from: Hatchy on August 29, 2024, 06:28:57 PM

This misconception spreads quickly, causing others to shy away from investing.

There is another part of people who quietly invest in bitcoin, receiving benefits from it (not only financial ones).

Quote from: Hatchy on August 29, 2024, 06:28:57 PM

Again, government authorities attempts to control Bitcoin creating uncertainty and fear. The implementation of strict regulations and laws, although intended to protect investors, can make investing in Bitcoin seem a bit unappealing.

On the contrary, in the eyes of ordinary people, state control appears as a guarantor of reliability, trust and security (with which bitcoiners will certainly disagree).

Quote from: Hatchy on August 29, 2024, 06:28:57 PM

the volatility of Bitcoin's price and security concerns only add to the apprehension.

Volatility is not a bad thing if you know how to use it to your advantage (like traders).

Security issues are minimized with proper computer hygiene.

People will always find an excuse to do nothing and watch the growth of bitcoin from the sidelines for decades.

Quote from: Hatchy on August 29, 2024, 06:28:57 PM

These factors combined create a perfect storm that hinders widespread adoption and acceptance of Bitcoin as a store of value.

The perception of bitcoin as a means of saving is hampered by the fact that bitcoin is considered a quick way to get rich.