Bitcoin Resistance Behavior: A QCA Study Explaining Why Individuals Resist Bitcoin as a Means of Payment

Bitcoin could revolutionize the system of payments, yet most individuals do not use Bitcoin as a means of payment. As the success of Bitcoin as a means of payment depends upon a high number of individuals using Bitcoin, this study examines why individuals resist Bitcoin as a means of payment. We draw on the status quo bias perspective and take a configurational approach, using fuzzy set qualitative comparison analysis (fsQCA). The analysis reveals a typology of four types of resistant users, who resist Bitcoin as a means of payment: the regret driven resistant user, the uncertainty driven resistant user, the transition cost driven resistant user and the cost driven resistant user. We contribute to resistance research and Bitcoin research by providing a typology of resistant users and identifying equifinal configurations of influencing factors leading to individual's resistance to Bitcoin as a means of payment.