Challenges? Well, there are many. First off, Bitcoin would need to deal with scaling issues. The core Blockchain network still can't handle a large volume of transactions. Developers brought an off-chain scaling solution called "The Lightning Network". But so far, it's been nothing but a complete failure. Another challenge would be dealing with the regulators. Especially when some governments taking an aggresive approach towards crypto-oriented transactions. Even in countries where crypto regulations are "soft", governments have imposed some restrictions/limitations to limit BTC's dominance over the mainstream economy. These obstacles will help prevent Bitcoin from reaching the masses.

Considering that centralized exchanges hold most of the circulating supply, it would be easy enough for governments to "control" Bitcoin. Then, there's the issue of market volatility. Wild fluctuations in price makes BTC an unsuitable short-term investment. You can't use BTC as money this way. Would you? Until Bitcoin overcomes said challenges, don't expect it to be universally accepted as a store of value. Just my two sats.

Bitcoin has always been seen as 'Digital Gold' by a part of our Community.  And it will always be seen by some people, because Bitcoin has multiple utilities and to some of us Storing Value is one of them.  Does 2024 really see an increase in people viewing it as Gold?  Particularly considering Bitcoin has not seen much of an increase this year, at least historically speaking.

The challenge I believe would generally be the lack of acceptance from Governments.  They are still struggling to accept Bitcoin and looking for ways to at least meet the situation right in the middle where they have to compromise little while giving us little as possible too.

I also believe they would become so much more aggressive if they meet situations where people who Launder Money and do other Crime will have prepared plans for if they get caught where the Bitcoin is sent to another Address so they can not be seized by Authorities.  After a few such situations, I imagine they would start becoming really aggressive on us.

There are many difficulties it would meet, and most of them are Government or Law related.  Remember there are still so many Governments who are either not Democratic at all or are Democratic but are also hating the idea.  If all Governments were sincere, I bet almost none of them would like the idea of Bitcoin becoming a Store of Value for us.

Adoption is the regulation, because as long as regulations allow more leeway then we are going to end up with more profit in the end. We will see a lot more people, back in the day ten years ago there were a lot of people who did not understand bitcoin at all, and there were some bad people who used it illegally as well, a ton of people in the world feared that it was something that only the bad people uses and did not understand what it was about, for them it was drug dealer money.

Whereas, we are talking about creating an issue where it will not be easy to find a group of people where at least one of them is not crypto investor these days, so we improved a lot and crypto is a lot more common and with regulations allowing that path to be and prices going up making some people richer while making other people interested the adoption increased as well. That is the most important part and I think we need to make sure that we deal with whatever we can at this moment.

Everyone has heard and knows about it but that doesn't mean they have used it or invested in it. People only know about bitcoin because there is so much news circulating on the internet about it as a get rich investment, other than that they don't know anything else and don't even care about it. Bitcoin adoption still has many limitations and challenges, Bitcoin is not as popular as we think, and not many people invest or use it.

Bitcoin and cryptocurrencies are being mentioned in the US election campaign but to be fair, they are not the main difference maker or key to deciding the outcome of election. Trump and the Republicans seem to care quite a bit about the crypto community's votes but you see, Harris and the Democrats don't even care.

Cryptocurrency is still evolving but to say that it has become popular or plays an important role in the economy and society, we are not there yet. We need more approval from governments if we want global adoption, otherwise there will always be restrictions and many people will not participate.

The main challenge is regulations implemented in each country.

You know that in some countries, bitcoin is banned because the government views cryptocurrency as something dirty. They think due to its decentralized and private nature that crypto is associated with illegal activities already. Obviously bitcoin can’t be considered universally accepted if only a few countries can use it.

You can say bitcoin a “Digital Gold” unofficially as many of us making money from it to meet our expenses but in my opinion bitcoin will never be accepted universally as mode of payment because for this bitcoin should be centralised and under a central body who controls bitcoin which i think is not possible in near future. In many countries bitcoin is used as money laundering purpose and no country would allow bitcoin as payment method by doing this their own currency will affected in many ways.

Hmm, I do acknowledge that if anyone heard about Bitcoin doesn't mean he has invested in it, but I think you should double-check the context of the discussion it was about the popularity not about the market capital race. Bitcoin's adoption has many challenges that doesn't mean Bitcoin is not popular.


Yup, that's a valid argument, in elections, Bitcoin's narrative support is not gonna change the results because it's the political domain, not the financial domain and that's also worth mentioning that Bitcoin is not able to fix anything in society, and economies because in market capital Bitcoin is much inferior to fix all this crap at the same time it has nothing to do with popularity as Renaldo & Messi and many other names from different sectors is popular all over the world but all them are unable to fix anything in society and economies. Bitcoin is from financial markets but a newborn, maybe in the future Bitcoin will hold the strength to fix things in economies at some level but that's not the topic and motive of Bitcoin's innovation.

Haha, the whole story ends in my personal view Bitcoin is popular, but as you've said it's not able to fix things and compete with others in market capitalization yup I do agree with that but it was not the context of my post, my focus was all about popularity.

Since the beginning of the Bitcoin journey till now, Bitcoin adoption has faced many limitations and challenges. And the biggest challenge is its acceptance. The Bitcoin network is not centralized, which is why many countries around the world have declared Bitcoin illegal (only a handful of countries have legalized it).
As well as the trustworthiness, privacy, awareness, and popularity of Bitcoin use for many people, it has not reached the peak. They consider Bitcoin a fraudulent investment.
 However, behind this lies the abuse of several fraudulent online platforms.Also, lack of adequate education (understanding about wallets, valid transactions, and market conditions) of using Bitcoin hinders its adoption.

points 1 and 2 are still on the line until now and not many countries or governments are open to the presence of Bitcoin as a store of value because they have no benefit from it. Then so far based on observations in my area as a small example there is no education related to bitcoin is very minimal, so not many of them want to invest, the government has labeled bitcoin as a high risk asset so that the public paradigm has been misled. Maybe only 2% are willing, even then under the auspices of a centralized exchange which is not trusted to store our bitcoins in the long term.