Can Bitcoin Ever gain mass adoption?

[Gurujebs]

My opinion is that education plays a key role in using Bitcoin. While some may feel unsure due to the complexity of the technology, access to information and educational resources can make it more accessible to everyone. This helps overcome barriers and promotes mass adoption of cryptocurrency.

Education of Bitcoin to people can't be completed without the impact of the governments, this sound awkward but that's just the plain truth. A lot of people don't like even formal education that is simple talk more or Bitcoin thag is entirely new to people. We can achieve anything with Bitcoin through education if the government can just add Bitcoin education to students or even at basic levels of education, if that happens, in the next 5 years, many household will hold Bitcoin because many children will one way or the other influence their parents.

 The reason why some people are yet to buy Bitcoin today is because of the bad side of it they have heard and if you ask them what they know, they will tell you it's how people loss money which are as a result of altcoins collapse. Ask some of them about what they know about crypto, they don't know anything than meme coins and this is because they don't have the right education about bitcoin but with government approval, adoption will go far naturally.

[Learn Bitcoin]

My question:
1. If Bitcoin requires proper knowledge and personal research, does it limit those who are uneducated, IT illiterate, and ignorant?.
2. Would this limit it's mass adoption?.

Note: Even the ignorant ones among us use banking services/fiat currency.

People eventually learn how to do it. But, if they are uneducated and do not understand anything, that could be a problem. But, not only this will limit mass adoption, but there is one more thing that is limiting mass adoption at this moment and that is the transaction fees. People do not want to pay fees for their transactions. If you pay a $20 bill in fiat, you almost pay nothing as a fee. But, when you pay it through Bitcoin, you have to spend a dollar or probably more depending on the mempool condition.

[Carbitcoin]

My question:
1. If Bitcoin requires proper knowledge and personal research, does it limit those who are uneducated, IT illiterate, and ignorant?.
2. Would this limit it's mass adoption?.

Note: Even the ignorant ones among us use banking services/fiat currency.

People eventually learn how to do it. But, if they are uneducated and do not understand anything, that could be a problem. But, not only this will limit mass adoption, but there is one more thing that is limiting mass adoption at this moment and that is the transaction fees. People do not want to pay fees for their transactions. If you pay a $20 bill in fiat, you almost pay nothing as a fee. But, when you pay it through Bitcoin, you have to spend a dollar or probably more depending on the mempool condition.

I think that you should pay attention to the fact that the government is withdrawing fiat currencies from circulation in almost every country. People are accustomed to non-cash payments and in this case banks always take a commission not only when paying for goods, but also when transferring any account funds to an account, based on this there will be no difference in payment. But the security and independence its that cryptocurrency provides is phenomenal.

[Stompix]

Bitcoin is popular in almost all countries of the world, so everyone knows what Bitcoin is and its popularity. Bitcoin is illegal in our country but we are secretly using bitcoin, about 30% to 40% people in our country are experienced about bitcoin.

I don't know what country you're from but you for sure know that the 40% experience with Bitcoin number is just BS.
You're telling me that if I go on the streets there no matter where I go 2 out of 5 people know how to use bitcoin, have done so and not even stopping there , they are "experienced"?
There are 40 million addresses with a balance on al the chain and almost 1 billion tx in the whole history of BTC., so unless you're from Monaco and those 40% mean 16 000 people there is no way that's true!

Oh, neverminded, you're from Bangladesh 40% means 64 million experienced bitcoin users in one country, that with 45,242,739 addresses (not wallets) with a balance over 1$ in the whole world.
Not to mention that if each of those 64 million users would want to make one tx it would take about 4 months of blocks just for them for one single tx.

Put the numbers down to maybe 4% or more like 3% , then it sounds realistic!

[Crypto Library]

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My question:
1. If Bitcoin requires proper knowledge and personal research, does it limit those who are uneducated, IT illiterate, and ignorant?.
2. Would this limit it's mass adoption?.

Note: Even the ignorant ones among us use banking services/fiat currency.

This was a good question. I will answer these two questions as one question. So I want to say first that currently Bitcoin is becoming a very fast add option but still the limit of this adoption is that most people of the world population still don't know what cryptocurrency is. Moreover, a large part of the population still does not know or cannot use digital technology. So yes, it's hard to hear but the truth is that most people who don't know about the technology are illiterate, and the result is yes, as an effect, it's a hindrance to the adoption of bitcoin.
But it is about to come that now the number of illiterate people is decreasing rapidly and the rate of educated people is increasing. So the results say that in 10-20 years most people will be closely connected with technology, and I think the barrier to mass adoption of Bitcoin will be greatly reduced.

[Primo1760]

The caption of this question as a topic sounds very interesting, especially when we choose to dive further into the context. Certainly, some Bitcoin enthusiasts won't think twice before saying YES to the question, while others might choose not to answer as they literally have no business with Bitcoin promotion and adoption.

I

There is already a very high adoption imo.

People are selling their life savings to buy bitcoins.

We have bitcoin etfs all over the world
Basically everyone in the world know what is bitcoin

Right, Bitcoin has already reached the peak of popularity all over the world and the popularity of Bitcoin is increasing day by day. I think those who think that Bitcoin has not reached the peak of popularity are still wrong. There was a time when people were not very interested in investing in Bitcoin but now people are showing a lot of interest in Bitcoin investment due to the high popularity of Bitcoin. Again there will come a time when it will not be possible for ordinary people to invest in this Bitcoin. Because prices can move to positions where only whales can invest, it may not be possible for ordinary people. However, there is nothing new to tell anyone about Bitcoin, Bitcoin will continue to run at its own pace.

[bitterguy28]

My question:
1. If Bitcoin requires proper knowledge and personal research, does it limit those who are uneducated, IT illiterate, and ignorant?.
2. Would this limit it's mass adoption?.

Note: Even the ignorant ones among us use banking services/fiat currency.

People eventually learn how to do it. But, if they are uneducated and do not understand anything, that could be a problem. But, not only this will limit mass adoption, but there is one more thing that is limiting mass adoption at this moment and that is the transaction fees. People do not want to pay fees for their transactions. If you pay a $20 bill in fiat, you almost pay nothing as a fee. But, when you pay it through Bitcoin, you have to spend a dollar or probably more depending on the mempool condition.

It is ok to be uneducated but important thing is that they are willing to learn because if not then they will be forever in debt and will never earn single cent from Bitcoin and crypto market .
sooner people will completely realized the importance of online and crypto privacy and why they need to pay for fees to maintain their privacy.

[Tribalchief]

The caption of this question as a topic sounds very interesting, especially when we choose to dive further into the context. Certainly, some Bitcoin enthusiasts won't think twice before saying YES to the question, while others might choose not to answer as they literally have no business with Bitcoin promotion and adoption.

There is already a very high adoption imo.

People are selling their life savings to buy bitcoins.

We have bitcoin etfs all over the world
Basically everyone in the world know what is bitcoin

There is something I call the internet cycle. I am not quite sure if it's a real term, but I will explain what it means to me. The internet cycle is essentially having the same number of users who see and use the same information on the internet, making it feel as if the entire world is also part of it. The Bitcoin community is indeed very large, but the information we encounter on the internet daily has led to the mindset that a large percentage of the world's population is into Bitcoin or has at least heard of it, which is not the case.

Regarding ETFs, you mentioned, "People are selling their life savings to buy bitcoins," which is very true. However, considering this, it also implies that not everyone is buying into Bitcoin because I fail to see how the common masses would sell their life savings to acquire a digital currency. Those who are very influential and popular are engaging in mass buying, so what's happening to those who are struggling to survive and represent a significant portion of the world's population?

Are we now saying that Bitcoin is meant for the wealthy?.

Answer to the first question is definitely a yes, this is if we remove every sentiments and try to be blunt and honest with our answers, and my answer to this question is based on personal experience.
I have 3 good friends who are really close to me, they love bitcoin, they love cryptocurrency and are interested to start investing in it, trading it, and even joining forums like this and discussing cryptocurrencies with other crypto lovers, but unfortunately, the challenge have been that, they are not educated, can't read nor right even an average English, how can such a person join in discussions on forum like this?

So, their lack of education have been a barrier that stops them from entering the cryptocurrency space, now imagine we have a lot of such people around the world, this will definitely affect bitcoin's adoption because, anyone using bitcoin has to know to read atleast, and I believe this also have answered the second question as well, bitcoin adoption will be very difficult is half of the world is uneducated.

Exactly. I hate to use the word "illiteracy" for humans, but this is just the plain truth. It seems some users don't understand the level of illiteracy that still exist in this 21st century.
Just imagine this guy's comment below, he didn't even explain how these illiterate can spell the word Bitcoin on YouTube.

maybe because some people who don't understand technology will definitely be hesitant to jump in and also because those who don't have IT knowledge will definitely rely on DYOR. YouTube and other media are always there for tutorials so that's important for those who want to put in the effort

I still don't understand how an illiterate could type the word Bitcoin on a YouTube search space. Please explain.

Right, Bitcoin has already reached the peak of popularity all over the world and the popularity of Bitcoin is increasing day by day. I think those who think that Bitcoin has not reached the peak of popularity are still wrong. There was a time when people were not very interested in investing in Bitcoin but now people are showing a lot of interest in Bitcoin investment due to the high popularity of Bitcoin. Again there will come a time when it will not be possible for ordinary people to invest in this Bitcoin. Because prices can move to positions where only whales can invest, it may not be possible for ordinary people. However, there is nothing new to tell anyone about Bitcoin, Bitcoin will continue to run at its own pace.

If we are to call this current progress Bitcoin peak , then i don't think Bitcoin's adoption would be necessary, though i can agree to the fact that it is quite popular. If you check my first reply in this same comment, I explained how this popularity works. There are lots of work to be done since we don't know the fate of those who are not literate.

[Learn Bitcoin]

I think that you should pay attention to the fact that the government is withdrawing fiat currencies from circulation in almost every country. People are accustomed to non-cash payments and in this case banks always take a commission not only when paying for goods, but also when transferring any account funds to an account, based on this there will be no difference in payment. But the security and independence its that cryptocurrency provides is phenomenal.

What government are you talking about? I don't know about your country. There are some countries that are 50 years back than the USA. The majority of US people do not carry cash anymore. But if you talk about my country, only some super shops accept cards and 98% of the other shops do not even accept cards or other online payments.

We are far back what you are talking about. We have a long way to go if you talk about crypto currencies. We are talking about Bitcoin here. I don't think people would pay $5 fees for a $50 bill.

[Tribalchief]

I think that you should pay attention to the fact that the government is withdrawing fiat currencies from circulation in almost every country. People are accustomed to non-cash payments and in this case banks always take a commission not only when paying for goods, but also when transferring any account funds to an account, based on this there will be no difference in payment. But the security and independence its that cryptocurrency provides is phenomenal.

I will assume that this is a joke. How on earth will a government withdraw the fiat currency of a country? Even El Salvador, which made Bitcoin a legal tender, is not planning on withdrawing its own currency.

The withdrawal of currency typically occurs when there is a replacement with new ones or when the government aims to control the amount of money in circulation. However, it's highly unlikely that a government would completely get rid of a state's currency.

I can point out that there haven been widespread instances of countries withdrawing their currency entirely. If you have specific cases in mind, please let me know.

[Learn Bitcoin]

I think that you should pay attention to the fact that the government is withdrawing fiat currencies from circulation in almost every country. People are accustomed to non-cash payments and in this case banks always take a commission not only when paying for goods, but also when transferring any account funds to an account, based on this there will be no difference in payment. But the security and independence its that cryptocurrency provides is phenomenal.

I will assume that this is a joke. How on earth will a government withdraw the fiat currency of a country? Even El Salvador, which made Bitcoin a legal tender, is not planning on withdrawing its own currency.

I believe he didn't mean withdrawing their fiat currency. Maybe he meant that the government focusing on removing the cash money from their country and focusing more on cashless payments like debit cards, credit cards, or mobile banking. As you know, most of the western country already becoming a cashless country. Most of the people do not carry cash anymore. Instead, they carry some cards and their smart phone from where they usually pay.

If you talk about 3rd world countries, you cannot imagine paying in cards everywhere. Only some super shops and the online websites accept cards and some shops accept mobile banking payments.