If you are inside of the Bitcoin community, congratulations! You are more on top of your economic future than 99.99% of the world’s population. You are sitting on the cutting edge, an early adopter, making history. You probably understand just how special Bitcoin is, and may be confused as to why everybody else isn’t going through Bitcoin-mania. Let’s look at 4 reasons why Bitcoin hasn’t taken the world by storm. Maybe you can do something to help “The Future of Money” grow in 2017 and beyond.
The biggest problem facing Bitcoin around the world is that the world really doesn’t know about Bitcoin’s capabilities. Hell, there are still a couple of billion people in the world who really don’t use the Internet, so they definitely aren’t using Bitcoin. Other may be older, or less tech savvy, and would not be attracted to something so advanced. If we all just sent any positive Bitcoin news out once a week to our social circles that could help generate some curiosity.
Bad press from mainstream media
Bitcoin is getting some good press right now, but it had to more than double in value over the course of 2016 in order to get it. Otherwise, the mainstream media, many times bought and paid for by commercial banking interests, are not about to promote Bitcoin to the masses. There are virtually no advertising dollars from the bitcoin community going to the mainstream media, so what’s in it for them?
The established financial players who are buying time are really in the mainstream are really competing with Bitcoin’s contrarian message, so when there is bad news, expect to hear about it in the MSM. The only time many people have heard of Bitcoin was when someone is getting ransomware for it, or an exchange folds and millions are lost, so it hasn’t made a good first impression in the mainstream.
Not needed in influencial markets
Bitcoin right now does two things. It is a pretty good investment and a fledgling global currency. The fact is the world has Visa, Mastercard, and Amazon 1-touch, so the digital currency angle is going to take awhile to hit home. Life is pretty convenient with payments if riddles with identity theft and counterparty risk. The places that could use Bitcoin the most really don’t have the investment potential or online infrastructure to use it properly. The United States tends to be the global; trendsetter, and as long as the U.S. Dollar is the global reserve currency, America is not going to be big into Bitcoin any time soon, so Bitcoin will have to start its own fire.
Bitcoin has come a long way in the three years I’ve been involved in the community as far as its usability, but it still has the perception of being difficult to use. With new debit cards, of good quality, now being able to spend Bitcoins like cash, that should help the mainstream going forward. Hey, my Mom uses it, so it really can’t be that hard to use at this point, but the perception still needs to be overcome and start catching up with reality. It could be easier, but its good enough right now.
I created Bitcoin Video University to educate the mainstream, so feel free to send any newbies you know my way, but we can all do our part to promote Bitcoin. Come up with an “elevator pitch,” (or use this one) send out a tweet when you hear good Bitcoin news. Bitcoin does not have a public relations department except in us. We can all do more for Bitcoin adoption. Make a New Year’s resolution to stand up for Bitcoin mass adoption, and drop a note to your social media outlets on how well Bitcoin is doing. It’s the least we can do.