What is really holding back the adoption of bitcoin into the mainstream financial system?

[Kera]

Many people have been eagerly awaiting the integration of bitcoin into mainstream financial system. While progress has been made, it seems slow. What is holding back the adoption of crypto into mainstream financial system?

 

[Suba]

The main obstacles to Bitcoin's adoption into the mainstream financial system are greatly influenced by various factors such as extreme price changes or high volatility, blockchain scalability that often crashes when transactions are heavy, global regulations that have not been regulated, and negative perceptions from many people who consider Bitcoin as a field of fraud and illegal transactions.

 

[Nomad]

Actually, bitcoin is already adopted into the main stream finances. One perfect example is bitcoin is used as a legal tender in many countries and in some countries Bitcoin ETFs are available for trading on stock exchange.

 

[wisdom01]

Volatility is huge, and it's hard to use daily. Rules and stability just aren't there yet.

 

[Fidelia]

No clear regulation on bitcoin. That's why governments are skeptical of allowing bitcoin into the financial ecosystem.

 

[Stardom22]

I am really wondering why some other countries have done that so fast whilst other countries take so long to accept the crypto as legal tender.

 

[King Belieal]

Countries that don't understand crypto are the ones still hesitant to allow Bitcoin to an extent in an economy.