Bitcoin adoption is stifled due to several reasons, as indicated by the real-time information:
- Opinionated behavioral control and a lack of preconceived alternatives are favorable factors to adopting Bitcoin investment.
- Regulatory authorities need to manage risks from crypto while not stifling innovation.
- Technical limitations of cryptocurrencies, such as the use of blockchain, have hindered their ability to perform the role of money effectively.
- Mainstream adoption of crypto will require a significant effort and is still likely to be several years away.
- Instability of the market, identity theft, and other concerns have led many people to avoid cryptocurrencies.
- Lack of trust in the new technology and wariness of security risks are cited as reasons for not using cryptocurrencies.
These factors contribute to the stifling of Bitcoin adoption.