NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

Is Bitcoin Too Early For Mainstream Adoption? Study Suggests So

Samuel Wan
Samuel Wan
4 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

College students at the University of Colorado Boulder were asked if they would rather have one dollar or one Bitcoin. Initially, the majority opted to take the dollar, but that was before the host disclosed how much one Bitcoin was worth.

Even then, they were uncertain about accepting the Bitcoin due to ignorance over how to store and use it. This goes to show, even though research indicates cryptocurrencies to be a millennial trend, there’s still a long way to go before it becomes mainstream.

One Dollar Or One Bitcoin?

Little known YouTube channel, Capital Creators, posed this question to a bunch of college students in the US mid-west. They intended to find out which of the two students preferred as a freebie.

While most had heard of Bitcoin, the near-unanimous tendency to choose one dollar, over one Bitcoin, came from a lack of awareness. Not only on the value of Bitcoin, but also on the workings of holding and using it.

Near the start of the video (0:33), two male participants both wanted a dollar over the Bitcoin. When the host asked why one of the pair said:

“That’s almost enough for Reese’s [from the vending machine.]”

As the video continued, and other students had their say, the host uncovered a series of misconceptions over Bitcoin. This included a man in a cave in Antarctica controls Bitcoin; there is nowhere to spend it; it’s illiquid and more telling; the dollar’s value is stable, and is, therefore, the better option.

Barriers To Entry

A common theme throughout the video was a lack of knowledge acting as a barrier to entry. When asked, what’s the main hurdle in wanting to accept the Bitcoin? One student said:

“I don’t think I really understand it well enough to know anything about it. Like, I hear about it, but it kind of feels like it’s one of those things other people know about, or value more.”

From this, it’s clear that mainstream acceptance is limited by a lack of education on cryptocurrencies through conventional channels. Equally, this could be due to a lack of motivation from ordinary people to self teach. Either way, the outcome is the same, and reaching the masses remains an onerous task.

https://twitter.com/MrMichaelNye/status/1101859014122496002

Not only that, but the technical nature of cryptocurrency turns people off. For example, talk of proof of stake versus proof of work is the realm of geeks. And wanting to find out more takes time, which most people don’t have. This issue isn’t helped by the mysterious reputation of Bitcoin, whose founder remains unknown.

No Mass Appeal, No Mass Adoption

While much is said about what needs to happen for mass adoption to take place. Such as using stable coins to deal with volatility, incorporating its use as a payment method at major retailers, or even improving UIs. No-one is talking about the most fundamental thing. And that is, where is a final product that has mass appeal, and doesn’t require in-depth knowledge of crypto to use it? Until that comes along, cryptocurrency will remain the preserve of geeks like us.

It’s Blockchain week in NYC. This is the cryptonerds Senior Prom.

— Tony Greer (@TgMacro) May 13, 2019

Tweet123Share196ShareSend
Samuel Wan
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Price Faces Big Test

Bitcoin Price Faces Big Test – Resistance Could Decide Next Move

Bitcoin price is moving higher above $116,500. BTC is now facing hurdles and might gain bullish momentum if it clears...

Aayush Jindal 4 hours ago
hyperliquid-stablecoin-hylq-bets-hype-new-crypto-focus-tw

Hyperliquid引爆穩定幣通路革命 HYLQ策略押注HYPE成新興加密投資焦點

在這個資本與代幣合而為一的時代,炒作已非貶義詞,而是敘事的骨幹。當我們談論Hyperliquid時,不只是提到一個永續合約交易平台,更像是在說一部劇情急轉直下的現代金融劇,主角身上寫著「高槓桿」與「高...

Peter Chow 4 hours ago
Binance

Whispers Of CZ’s Return To Binance Push BNB Price Past $960

Changpeng “CZ” Zhao has stirred fresh talk that he may be stepping back into a bigger public role at Binance...

Christian Encila 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dogecoin Whales

Dogecoin Down 13% As Whales Distribute $181 Million In DOGE

Keshav Verma 46 minutes ago
ethereum

Ethereum Close To Local Bottom? Analyst Flags Drop In Binance Open Interest

Ash Tiwari 1 hour ago
Solana

FalconX Moves 413K Solana Worth $98M – Impact On SOL Price

Christian Encila 2 hours ago

Premium Sponsors

Press Releases

  • 3 нискокапитализирани алткойна...

    14 hours ago
  • Топ алткойни за купуване, докато цената на Solana се доближава до исторически връх

    Топ алткойни за купуване, докато...

    16 hours ago
  • Najlepšie altcoiny na kúpu, kým cena Solany dosahuje...

    17 hours ago
  • ドージコイン 今後:ETF上場前の蓄積と価格分析が示す「事実売り」の可能性

    ドージコイン...

    18 hours ago
  • リップル 今後の行方:FOMC前に3ドルを維持、クジラが大量売却

    リップル...

    19 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.