Earlier in the previous week, Forbes published an article, in which it highlighted a few reasons as to why Bitcoin is not able to reach the incredible heights which were predicted by several experienced crypto experts explained some of the reasons why Bitcoin still hasn’t gone mainstream.
The Forbes article cites an analysis which was conducted at a panel discussion at the recent 2019 MIT Bitcoin Expo.
According to Jack Mallers, the creator of Zap wallet, he states that the problems are more on a general cultural level rather than any underlying issues with the technology, he also made a comparison as to how the digital payment systems are used in China in comparison to the U.S.
According to Mallers, “there is a serious mental barrier that needs to be broken down as far as people’s relationship with Bitcoin and the asset itself. They aren’t comfortable holding it. They don’t look at it as very useful. They look at it as highly speculative… I think that’s a way taller obstacle than the technology itself”.
The founder of LN system Lightning Power Users, Pierre Rochard, had a rather interesting take, as he feels this is an issue that can be solved by educating the masses more about the potential of Bitcoin and other cryptocurrencies, and the financial system in general: “It’s mainly due to education…People just have not fully understood it. They did not understand why it is valuable. They did not understand how to implement it. And so, in my opinion I think we just need a lot more.