T O P
Styx1213

"being your own bank" brings enormous responsibility. You can lose all your life savings in crypto over a small mistake. This is a big obstacle for mass adoption. The majority of population is not technically proficient to handle crypto. Until banks (or some kind of 3rd party) start to provide crypto services, mass adoption will not happen imo.


cuzzo333

Hell, even for technically proficient people it's still a problem. Highly technically proficient people still make mistakes and then throw in all of the other factors such as poor security in many crypto platforms, properly securing and backing up your own private keys, increasing rise of scams/hacks/etc, zero legitimate insurance for most crypto, insane volatility of crypto markets, the list goes on. It's a pretty dumb idea at this point to put life savings or any significant amount of money that should be "safe" into crypto.


airwavieee

I had to scroll down way too far for this. This is absolutely what keeps crypto from mass adoption. And yes, this would need regulation first, but its the no. 1 thing. People dont want to be responsible for their own money. They want a place to safely dump their money and be able to use it whenever they like.


ereshkgall

It would be hell difficult to achieve decentralization that way though, i guess most people are fated to use centralized services


Styx1213

as long as there are millions of crypto enthusiasts who take care of their own crypto, I guess the system will be sufficiently decentralized. But, yes, those who choose bank-custody will be using centralized services. If this bothers them, anytime they can join the free range cryptors out there.


WilliamThaKhan

This thread is probably the best reflection on this question. Thanks all for adding your thoughts.


neckos

The general public doesn't give a rats ass about centralization. It's just not a concern for most people. The enthusiasts do but your mom, Gramma, second cousin Larry, irrelevant to them. What matters to most people is that their money is relatively safe and available to them easily.


tommycw10

Why, exactly, do people want decentralized financial systems?


anointedfingers

Coming back to look at your comment in 5years time


badasschap

Is there a remind me bot


Styx1213

you mean, mass adoption will happen in 5 years by everybody being their own bank? or 5 years later banks will start to provide services?


bmstile

This, I just got a new phone and when I went to retrieve my key from my black box of important documents I didn't find it immediately. I had to take everything out and go through every paper one by one until I found it. I still had functional use of my old phone so I would have been able to transfer anyway, but it's in defi earn so I would've had to wait another month before doing so.


lionmandawg

Yes! Great answer.


LYMEGRN

I’d have to strongly agree with you. Unfortunately


kirtash93

User Interface and people that believes what the govs and banks say to them.


milonuttigrain

+1 For user interface… should be simpler and more intuitive


tarasqqq

Natrium is great example.


_grdz

Don't forget Potassium


tarasqqq

Kalium is also great monkey))


TheTrueBlueTJ

Absolutely. A great wallet, I think so as well.


ereshkgall

Algorand wallet is great also


ProcastinateIsLife

Natrium, so easy peasy


SweetJonesofCrypto

I would add the algo wallet too.


Hungry-Caterpillar10

Losing money while transferring is very scary for me


milonuttigrain

That moment… waiting waiting waiting Send small amount to test first


SweetJonesofCrypto

I lost count of all the skipped heartbeats.


[deleted]

Oh come on, nowadays exchanges have mobile apps that have beautiful UI. **Buying/Selling coins on a mobile app almost feels like playing a game, it's that easy.**


The_One_fja

Also the amount of information... Stacking, DeFi, NFT, HDOL, FOMO, Poll, omg the list go on and on. I started investing a couple of months ago and I still find hard to understand all the conversations and articles.


SweetJonesofCrypto

It definitely takes some time to get your head around it all. It's a journey and you never stop learning.


M00OSE

Every space has their own versions of these though. At some point, it might become commonly spoken terms that transcends the crypto space.


MustyBox

I work as a computer repair tech and am astounded by the lack of computer related vocabularies that customers possess. And yes, checking that the computer is plugged in is in fact still a early go-to in troubleshooting..


Nickel62

User interface is a matter of time. Just one example - VISA is going to use USDC (just for starters). Users will be using the same VISA user interface, but will be using crypto behind the scenes. DEFI is barely a couple of years old. We have thousands of developers working on it. It's only a matter of time that we will be using crypto behind the best UI.


M00OSE

A lot of people don’t realize that Defi is only less than 3 years old.


Ultra_burger

banks are actually a big obstacle at the moment


anointedfingers

User interface is now much simpler and so easy to navigate


Labius

Legal legitimacy is important to most people if they're going to be investing large sums of money. I know it isn't sexy but regulation and clarity is needed.


voidcrawler

The biggest obstacle is in my opinion three things: 1. Taxes. It is total chaos. I can't really pay with crypto, because when I do it's a taxable event. Brokers and banks in the stock market world do everything automatically for you. They calculate the taxes when you sell a stock or have capital gains and forward it directly to the gov (Germany). At least it would be a start if a crypto broker could do all the calculations for me, and can me, specific for my country say how much I have to pay. But this will also have the risk, that I have to pay a lot of money in the next year to the gov, which I might not have. 2. Integration of crypto in software. I call this layer 3 technology. The software build on top of crypto needs to take care of all the disadvantages of crypto. For example, the software could automatically check if the wallet address is valid by having a decentralized database of validated addresses. 3. The free market itself. One the one hand it is the biggest advantage. On the other site, all subs and news are full of either people shilling any kind of moonshitcoin. As a beginner, you are totally overwhelmed because you will be bombarded with basically...shit.


pizzalover113

Maybe not the biggest but one of the big problems is scammers. Because of them, many people dont get into crypto in the first place.


anointedfingers

I saw on this subreddit how someone lost 200k tether to scammers! Scammers on prowl. Lurking at every corner


ClippTube

Insurance, buyer protection, refund, security


pushdose

YES. This is a huge issue related to actually using crypto as sound money. Why would I send crypto into the “void of nothingness” when I can swipe my Visa/MC and know my purchase is tracked, insured, refundable, and secure. With fiat you’re paying face to face. With credit cards, you have the backing of the CC issuer that your purchase is protected for the most part. I’ve made purchases with crypto, it’s an act of blind faith. There’s no recourse if it goes wrong. We may evolve into a system of contracts and escrow that allows more trusted crypto purchasing, but it needs to be seamless and easy. We aren’t there yet.


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Johnnwic

More fiat to crypto on-ramps and the lack of merchants accepting Cryptocurrency payments.


milonuttigrain

We’d like to see more actions. Like a large Croatian supermarket chains do today (Konzum).


Johnnwic

Yes! Can't wait for massive adoption


SweetJonesofCrypto

This plus the absolutely nightmarish thought of sending your crypto to the void.


justablueballoon

Happened to me a few times, even a week ago, while I do see myself as experienced...


denimglasses1

This hasn't been helped by the push back from banks especially in Europe. Binance has been basically shut down by banks and most people won't look any further than that and won't even try because their bank told them it's wrong to invest in crypto. It's really not very easy for the little guy


M00OSE

Aggregating all the different networks as well. The problem for vendors is that they could accept cryptos like say the USDC stablecoin but then there’s the question of “from which network”. USDC is in almost every different network— Ethereum to Solana—and requires different wallets to accept/read them.


Aivarashi

This. Until payment processing companies start accepting crypto so you can actually use it in a mom and pop shop to pay for a kit kat it won't reach mass adoption.


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WingChungGuruKhabib

Going just by satoshis works though


anointedfingers

Dicks in everything and everywhere I go


ereshkgall

_XLM, Algo, Nano enters chat_


TooFitFurious

Ethereum: Use L2 chain. Bitcoin: there is nothing wrong in sending btc having dozen of zeros


Oh_My_Crypto

Usa


Vimmington

We're certainly not helping, but I think China is making things harder than we are right now with literal bans.


occams_lasercutter

Simplicity. Fast and nearly free transactions. Ubiquity. Anonymity in commerce. Trustworthy security that doesn't take a computer nerd to understand. We need more functionality in the core blockchains and less second and third parties facilitating transactions and wallets.


Vegetable_Fishing_61

USA


demarcora

I think awareness is the only obstacle in mass adoption. New people don't understand how to use cryptocurrency without relying on any third party.


Equal_Jacket1440

USA


kh_pal

Mainly user interface and misinformation. The average person should not have to understand crypto to use it. While we hate centrilazed exchanges, they can be a solution here, as they make an easier interface to integrate users. The second point, with all the misinformation and volatility, people are scared to invest. Here we need better messaging to help people understand the great aspects of crypto


Grey___Goo_MH

Unbank yourself


statler107

The fact that you need to learn how to do this, most people can't be arsed


trrrring

Old money and old establishments who are jealous.


irotok_isBae

Even though a lot of these answers are right, the truth is people just suck with their money and are too afraid to commit to things they know nothing about. Even after literally more than 200 years of being active the majority of people are still too scared to get into something as simple as the stock market. Cryptocurrency is the stock market times 10 on the big and scary scale. People know it’s a solid investment, they know it can grow their money quite nicely, and they still aren’t doing anything with it because they’re too scared of investing even a few dollars. On top of it being an entirely new concept, it’s incredibly technical as well. Unfortunately, most people are worse with computers than they are with their money. This is why I believe Bitcoin will stay king for a very long time. People simply don’t care about tech. This is also why I’m bullish on cro. They’re exactly what the general public needs to get into this kind of stuff. Simple and easy to use exchanges like crypto.com and Coinbase are what’s going to make crypto go mainstream.


UnfumbleableBag

It goes without saying that UX (user experience) is the biggest obstacle to mass adoption, but there, I said it anyway. ![gif](emote|emo_pack_1|this_is_gentlemen)


DjTrololo

Banks, i think.


NOCOCK-tail80085

The FUD


bmorekareful

Governments, people with lots of cash, and banks.


MorpheusKing

Old white people in power


Vgta-Bst

Any government entity


Vegetaman916

And there goes my gold for the month.


Longjumping-Spite990

U.S. Banks.


cader8

Stubbornness. Peoples inability to change


charlie002

There is no obstacle - it is happening, thanks to crypto.com


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Obsidianram

To be honest, that's expecting far too much. One doesn't need to know the principles or physics behind internal combustion engines in order to purchase and drive a vehicle (maintenance, sure...track bars & wedge adjustments, too much). Until we get back to teaching basic economics and enforcing legitimate standards in mathematics, don't hold your breath on mass adoption.


milonuttigrain

It will take time. Agree, crypto needs to be of simplicity so that an average user can use easily. Imagine a Filipino worker in the UAE wants to send money home. The first place, probably bank or Western Union. Until we can solve the problems.


M00OSE

That’s the beauty of it right now. We’re early


anointedfingers

I received 2k dollars from a CANADIAN client for some crypto related contents I wrote for his blog. Guess what crypto currency he paid me in? SOLANA! And the transaction barely took me 2mins to change to Bitcoin! Now I'd HOLD till BTC hits 100k


Immediate_Drink_3456

I can’t answer all those questions and I believe in crypto. Doesn’t mean shit if everyone can answer those questions or not, you can still make money and believe in it.


ShotCryptographer523

No way. Decentralisation I understand, but the other two, no idea. Doesn't mean I don't understand the benefits and how it works on a surface level. Do you know how an Apple IPhone works inside out? No. Does it stop you using Iphones? Of course not. Bad examples.


gilmeye

Onbording. When every citizen of turkey, Venezuela, Brazil, China, India... will be able to buy BTC from their phone with no KYC, then the world will shake


Stallzy

true, is it a "when" or is it an "if" situation though? hopeful but not sure it's particularly straight forward even in the developed world but then again who knows, it may be easier in those other countries, besides China, they don't even allow access to basic websites and social media that we use daily


CounterAdmirable4218

Humans. Can be awkward customers who furiously resist change of any sort.


darkjaffs

Banks and Governments!


AbsolutBadLad

Oh they already have their hands full helping those poor poor billionares 😔


-ManLikeCozzi-

Peoples own stupidity is what will take it so long to be fully adopted. People not knowing what they’re investing in, losing money because they don’t know how to send it, hear horror stories so stay away, getting scammed, friends or family getting scammed, losing life savings on a coin, not trying to understand what crypto is before investing etc etc etc and most of all is not having the patience that is needed. Feel free to add to it. We’re a long way off where we want to be, years or even decades possibly.


nicolas_0311

Consistent misinformation and misleading education of the public. Latest example: ECB president said "cryptos are no currencies". [This article "Is Bitcoin A Currency"](https://medium.com/@nicolas.och/is-bitcoin-a-currency-ccd250fa124b) clearly shows the opposite. It will require objective articles like this one to give mass adoption an opportunity.


FinishGloomy

Boomers


anointedfingers

Gen z


milonuttigrain

Avocado toast


Massive-Quarter-4156

The Gas Fees!


opolip

Gas fees are a major concern. Especially for beginners


badasschap

Yeah. I embarrassingly was trying to buy some evergrow coin and failed horribly. I transferred money into my newly opened trust wallet, proceeded to purchased BUSD with it, and thus had no BNB to pay for transfer fees. Thought I could just buy a couple dollars worth, but no, i would have to buy $50 worth. Issue is I didn’t have $50 in my checking. Only like $30. And couldn’t transfer from my savings or it would turn into a checking account. So there we go. That’s the story of how a far too large amount of my money was essentially just sitting in limbo in my trust wallet until I got my next paycheck a few days later and just deposited a little into my checking account. Everything worked out just fine. Except it didn’t. Whatever 3rd party system trust wallet uses to connect my bank to the wallet, wasn’t working at all. Every time I would try to process a transaction it would get declined. About 300 other unfortunate events piled on after but I care too much about my sanity to explain. But yeah that little predicament has left me confused, mad, feeling stupid af, even more confused, angry at trust wallet, angry at crypto in general, and just generally *bleh* So yeah that’s one way a crypto experience can go


digking

Practically, there is really no high gas fees issue for the blockchains that come after Bitcoin and Ethereum.


hotpachyderm420

Old people


zhoper

And gas fees. I don’t want to pay money for the opportunity to buy groceries, etc.


CamshotDave

More then 60% of the world's population are dumb narcissists. Which means that they are too dumb to understand Cryptos and because their narcissism can't handle that, they rather hate on it then even attempt to understand it.


Abdullah_da_king

the gas fees


TOXICCARBY

Shitcoins (not meme coins like doge or Shiba), scams, hacks, gas fees, complicated concept for boomers


denimglasses1

Scams are a bad one for sure. Negative news like a big scam has the power to turn potential investors away forever


ghib1

Banks fighting against losing control


anointedfingers

A fight to finish


danibuch

Common sense? Practicality? Security?


anointedfingers

Common sense isn't common


ChemicalGreek

Simple: **Greedy** **Banks**


anointedfingers

Fat greedy banks


Mean-Argument3933

The complexity of buying, storing, and using crypto. There aren't that many places that will accept crypto as payment. Second barrier is FUD.


anointedfingers

Got more 4,5,6,7,8,9 barriers! It's quite a long way to go


KickAssBoxer

Blind belief in governments to have our best interests at heart. Many young people are aware of rampant corruption in government, but boomers and older generations are quite happy to let the status quo continue, despite it quite literally tearing apart the fabric of our modern nation state.


Jay_Rizzle_Dizzle

Dog related meme coins.


spooky-frek

Shib Gunna shib


KusuriuriPT

Misinformation and lack of people that dont join the tribe mentality of us versus them.


OB1182

USA vs them?


KusuriuriPT

Crypto holders vs Banks / goverment etc


OB1182

Oh lol sorry.


WHO_DID_THAT

Understanding and accessibility. It'll come, we're all super early!


anointedfingers

Super duper early


TheMadViking99

The biggest hurdle I've noticed when trying to get friends and family to invest in crypto is 3 major things 1, the fear of being to late to the party. 2, it's a bit scary and hard to start investing in crypto as all the sites and banks are online and not physical and older people in particular want to talk to a bank man or real person when it comes to money. And 3 most places require bank transfers and won't let you deposit fiat via debit card, PayPal and similar services


anointedfingers

Same issue I'm having with family... They don't just understand


TheMadViking99

I dont think its so much their fault as it is the crypto market failing to accommodate a large chunk of the general public. For general acceptance of crypto to happen I believe the crypto market needs to get better at accommodating the uninterested and the elderly with easier methods of depositing fiat and sleeker websites that don't feel like you need a PhD in economics to use


Meneceo

User friendliness. It was the same obstacle for web 2.0, until centralization. I’m beginning to see the same pattern here after CRO hype, and I’m disappointed. Talking about exchanges and user friendliness. “Hi dollar” is a new exchange focused on user experience and mobile friendliness. It’s still in private beta, so to subscribe, after you download the app, you need to put my nickname: Meneceo. Once you’re in, all you have to do is answer 1 question every day and they’ll give you 1 $HI (now 1.45$, but I started 2 weeks ago when it was worth 0.98$) for free. The only downgrade is that you will be able to sell or withdraw after 365 days. But if you want to hold it like me, and you like free things, this is your occasion.


Trade_Winds_88

Threat that CBDCs will kill non CBDC crypto. And the fact that it's not as entrenched as the traditional banking system.


bushchook83

Ease of use. Make it intuitive and easy to understand then mass adoption can happen. Simplicity will be king.


anointedfingers

As simple as that!


Xalkerro

Gas fees.


Classroom_Strict

Don't know what the actual trigger will be, but I hope it's not soon. I'm poor and still trying to make a buck before it happens.


ColtoH0110

Probably the need for so many different wallets, it can be alot to keep up with, unless you are useing a hard wallet of course.


Optimal_North_HJ

Poverty, digital divide and probably need. Not everyone may need Crypto.


Tredur

Anti-crypto zealots being the loudest voices in the room. FUD from people who don’t know shit really doesn’t help at all. Volatility isn’t the most inviting situation, either. More coin for me, though!


PoopWithAura

Better UI/UX, less jargons, less shill, less shitcoin/memecoins, etc.


mode90x

Transferring crypto. It's not user friendly. When will my parents use these long wallet addresses without fear?


NukeTeo

A geomagnetic storm. There are no obstacles on the way to mass adoption until that happens.


Anfibio8

Banks and crooked politicians.


moneybgood23

The Bond Barrons ...


DaddyCardano

Sir how do you have that username flair when you have 500 moons?


kxlxxn

Sending is still to complicated if you want to use crypto for everyday usage


cyberplanta

The fact that the legacy financial systems has a head start of almost 500 years. A lot of ppl believe in the legacy system, give it one whole generation ~40 years.


ArrayBoy

Mass adoption is already here


Eur1sk0

Lack of regulations, high steep learning curve, too many alt coins


tiberius_js

Media. Mainstream Media is the biggest holdback.


Kyks_

The fear.


SailsAk

People sending crypto to the wrong address is easily the biggest problem.


Egothha

A lot of people just don t want to get bothered by it. Its like the internet, at the beginning you had a 64k modem an getting it to work was a science of itself. Nowadays nobody know anymore how it works it just works. Crypto might be the same, at some point you just scan a QR code at the shop and your transactions works. So i suppose infrastructure is a big point and the believe in a future with crypto from big companies who start accepting payments.


asianscumbag

The heart palpitations when sending to a address


mutalisken

Lobbyism + lack of money.


kellzone

Two things stick out to me: 1) People treat and will continue to treat crypto more as an investment than something to actually spend, as long as it maintains the volatility it has today. 2) The fact that, in the US at least, if your coin has made a profit for you, then you've got to pay capital gains taxes if you spend above the amount you initially invested. It basically adds to the total cost of the item you're purchasing, whereas if you're using regular fiat this isn't an issue. You've also got to keep track of all the transactions and then figure out the taxes for each one. This could be quite a pain in the ass if you're going to 3 or 4 different places every day and spending your crypto.


Annual_Elderberry736

Meme coins


Tradegrow

Frauds and scams . Knowledge to learn how utilise working daily life . Responsibility to protect and secure there money


Ill-Arrival-6023

Central bank fud


rikbona

easy answer: whales


LuckyPockets

Too many wallets each covering a different set of coins or support different methods of earnings When the one true wallet descends, that's when the magic starts happening


CaesarJulius50

1)It is more complex than fiat, I explained it to some people, yet they think someone can easily hack into it and steal all of their money. 2)Governments are against it because they can’t control the money, they can quite easily force banks to block any transactions towards any 3rd party crypto websites. 3) Crypto is volatile, I don’t think many people would use it as day to day currency, considering that one day they might not afford their grocery shopping one day.


nopy4

Risk of untraceable loss of all of your cryptos to a hacker, or to whoever got access to your seeds. Also risk of loss of your seeds, and consequently to your cryptos.


HiddenknifeX

The posibility to send crypto to the wrong adress and lose your funds The posibility to forget your seed phrase and never recover your funds. Wallets attacks from hackers. Enormous gas fees on main networks such as Ethereum. Not so user friendly interfaces of DeFi apps. Having to figure out how to move L1 to L2 for lower fees. Institutions & famous people manipulating prices in the market. We are still in the era of discovery mode in crypto and we are just early adopters, like Columbus discovered America but did not bring modern infrastructure with him only a few hundreds of years later. Until we dont have the posiblity to move funds around almost gas free or witout fear of risking thousands of dollars to the wrong adress, i m afraid we wont see any mass adoption.That shit scares even a veteran crypto user!


Smithy15493

Everything related to wallets and transferring crypto lol


KyloRentBoi

The government's


mageakeem

The massive swings in prices. Most people are paper handed scary bitches.


LifesatripImjustHI

The status quo or systems in place by dinosaurs.


asandidge27

Getting people to believe that it’s not always a scam.


pororo_007

Oligarchs,politicians and the fuckin bank..that's the real deal


limenlark

Skepticism of decentralized money. That is the biggest obstacle. A lot of people don’t believe in a financial system that is governed by people because it also means the dumbest people they know in their lives can have a direct influence in the medium. Also the amount of shitcoins and projects that just don’t need to be tokenized delegitimizes the space. Its a money grab and no different from Lotto. We are still in the stages of money grabs. There is Bitcoin , then there is crypto. Bitcoin is probably going to last, the rest probably has to pass a couple more filters.


SportEmpty302

Transaction fees


beynonce1690

Humans. We are the biggest obstacle.


Azurik-san

its the boomers


jncheese

Gas.


Apprehensive_Lime178

Goverment and media.


jockeferna

Complexity and security. Honestly I haven’t found a good way to fully secure my wallets.. where to store seed phrases ? Plus imagine living in constant fear of being mugged and tortured for your info? Then they steal and take the funds to “untraceable” wallets.. that cannot happen with a bank at least


WyrdNine

Utility.


Drnelk

1. User interface / difficulty involved in access. 2. Even though it's pitched as a currency, for the most part it currently functions as a commodity (like gold) for storing value. That's true in at least two ways. A. Try to pay equivalent of $7 and get charged $25 in fees? That's not a currency. B. Nobody says HODL about currency.


DrPechanko

Posts asking about mass adoption


theinsanityofitall

Banks and governments are the biggest obstacle to the current cryptocurrencies in circulation. Cryptocurrencies *will* be adopted, but it will be a government issued and centralised version. This will allow government tracking due to the blockchain structure, and economic stimulus controls by having a time limit on issued currency or UBIs. Taxation, I imagine will also be easily controlled by burning or transferring as required.


Ashcashc

Lack of education


SageRunsTrain

Global economic collapse and hyperinflation.


No_Translator_9984

boomers


BugcatcherDeli

Usability for everyday stuff Dummy-proof usability as well


icecreamgreyhound

The desire to speculate on its value and make big profits.