"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.


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.


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.


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


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.


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


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.


Why, exactly, do people want decentralized financial systems?


Coming back to look at your comment in 5years time


Is there a remind me bot


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?


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.


Yes! Great answer.


I’d have to strongly agree with you. Unfortunately


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


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


Natrium is great example.


Don't forget Potassium


Kalium is also great monkey))


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


Algorand wallet is great also


Natrium, so easy peasy


I would add the algo wallet too.


Losing money while transferring is very scary for me


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


I lost count of all the skipped heartbeats.


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.**


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.


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


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


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..


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.


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


banks are actually a big obstacle at the moment


User interface is now much simpler and so easy to navigate


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.


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.


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.


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


Insurance, buyer protection, refund, security


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.




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


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


Yes! Can't wait for massive adoption


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


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


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


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.


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.




Going just by satoshis works though


Dicks in everything and everywhere I go


_XLM, Algo, Nano enters chat_


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




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


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.




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.




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


Unbank yourself


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


Old money and old establishments who are jealous.


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.


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)


Banks, i think.




Governments, people with lots of cash, and banks.


Old white people in power


Any government entity


And there goes my gold for the month.


U.S. Banks.


Stubbornness. Peoples inability to change


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




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.


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.


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


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


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.


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.


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


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


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


Banks and Governments!


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


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.


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.




Gen z


Avocado toast


The Gas Fees!


Gas fees are a major concern. Especially for beginners


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


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


Old people


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


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.


the gas fees


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


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


Banks fighting against losing control


A fight to finish


Common sense? Practicality? Security?


Common sense isn't common


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


Fat greedy banks


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


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


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.


Dog related meme coins.


Shib Gunna shib


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


USA vs them?


Crypto holders vs Banks / goverment etc


Oh lol sorry.


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


Super duper early


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


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


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


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.


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


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


As simple as that!


Gas fees.


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.


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.


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


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!


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


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


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


Banks and crooked politicians.


The Bond Barrons ...


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


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


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.


Mass adoption is already here


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


Media. Mainstream Media is the biggest holdback.


The fear.


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


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.


The heart palpitations when sending to a address


Lobbyism + lack of money.


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.


Meme coins


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


Central bank fud


easy answer: whales


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


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.


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.


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!


Everything related to wallets and transferring crypto lol


The government's


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


The status quo or systems in place by dinosaurs.


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


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


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.


Transaction fees


Humans. We are the biggest obstacle.


its the boomers




Goverment and media.


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




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.


Posts asking about mass adoption


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.


Lack of education


Global economic collapse and hyperinflation.




Usability for everyday stuff Dummy-proof usability as well


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