What Really Is the Biggest Reason for Lack of Bitcoin Adoption?
Another day, another strange theory on why Bitcoin hasn’t caught on with the public mainstream a decade in, this time from the revered Jimmy Song. There’s a lot of blame going out to people who promote other cryptocurrencies and public misconceptions, but in my humblest of opinions, all that’s far from the truth. This is why Bitcoin really lacks wide adoption.
The network has thus far failed to scale
A widely-debated point, but no matter where your opinion lies, one fact remains undeniable: Bitcoin hasn’t scaled. That doesn’t necessarily mean that it can’t, or won’t, but so far it hasn’t. For around three years and counting, more people have wanted to use the network than have been realistically able, with no clear end in sight. Until the network can support a mass influx of users, guess what: it won’t get them. It’s really that simple.