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Let's not kid ourselves - We are very far from mass adoption

All Cryptocurrencies

by COINS NEWS 16 Views

Disclaimer: I am super bullish on crypto and I hope it can revolutionize the broken financial system but…

After the events in the past weeks, people in this sub have become extremely bullish again on crypto. Posts are popping up here that discuss that it is crypto's time to shine in the light of the recent bank crisis and that the recent market pump can be taken as evidence that people are flocking towards crypto because of this.

Let's be honest though, crypto mass adoption is not happening anytime soon. Here are some reasons:

  • Nations or large institutions have no to reason to adopt crypto - In the end its all about control and they are not willing to give that up

  • Fiat rules the world - this is not changing anytime soon -

  • Many people investing in crypto do it just because of the money - they couldn't care less about the revolutionary aspects of crypto (anecdotal point from the very few people that I have who actually own some crypto)

  • In the public eye, crypto is often still considered a joke or a scam

  • Using crypto is way too complicated for most people

  • Active bitcoin addresses today were only at 1m

  • Binance the largest trading platform by far “only” has 120m users

Of course adoption is happening and is only increasing every year. But for mass adoption to happen would mean for most people to actually care and for institutions to give up their control.

submitted by /u/Killertimme
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