21 sats \ 0 replies \ @TheBTCManual 15 Sep 2023 \ on: POLL: Which is holding back Bitcoin adoption the MOST? bitcoin
If I look around at what going on here even though people say South Africa has high % of BTC ownership most people I've spoken to that do own it, do so with a custodian and see it as a small allocation to diversify from real estate, the JSE (local stonks), EFTs/Unit trusts that most people who have money to invest would push into because the returns are pretty gross when inflation-adjusted, people might not realise they're getting shafted but they kinda feel it so I think basically by taking a flyer at something with alpha they found Bitcoin
As for why more people don't adopt it, there have been a lot of scams here, MTI, Africrypt, and Mining City that ran away with people's money under the guise of investing in Bitcoin so people still point to those examples
So yes definitely a lack of education on what it is, why it exists, why its an improvement on what we have, if those 3 things can click, I think people move into it, either that or the fiat pain becomes so unbearable, right now, people are still willing to take the on average 15% decline against USD in their local currency thats been going on for 25+ years, its amazing how people can just shut off those pain receptors and keep going