Since my early days, I became a Bitcoin advocate among my family and acquaintances, I even joked about it xD! I questioned why the majority of the population, in the midst of the monetary debacle, did not choose to safeguard part of their effort and labor in the more solid refuge that Bitcoin represents. However, several barriers greatly hindered this possibility:

-In people's minds prevailed the ingrained notion that the safest option was to accumulate dollars in cash.

-The absolute lack of financial education limited their perspective of the economic scenario.

-The ruthless hyperinflation left most people with no margin to save; what little they earned was consumed in basic necessities such as food. Therefore, what little was left over for some, they opted for the safe thing: cash in dollars.

-Internet connectivity was and is not uniform throughout the country, as many areas lacked a reliable mobile signal and even experienced power outages.

-Paradoxically enough, Bitcoin's volatility scared many people, despite being considerably less than the devaluation of the national currency. However, the fear persisted.

-The constant rumor about the use of Bitcoin and cryptocurrencies in fraudulent activities also sowed distrust.

And these are just a few of the many reasons that contributed to the lack of widespread adoption.

That is why I see the long-awaited adoption as complicated, even in the face of such a screwed-up scenario.

But we must continue to guide those who want to get out of the fiat money pit. And want real #money like #Bitcoin

Reply to this note

Please Login to reply.

Discussion

Good insights, thanks!