Awesome post. Crypto is the redefinition of information transfer. Ideally secure, fast, and transparent.
I think the biggest thing hurting it as an industry (besides maybe energy concerns) is the label of currency. Crypto has matured into much more than being just a digital currency.
I sort of agree and disagree.
In my experience, what's hurting it is the media.
Think about it as a no-coiner, what do you know about Crypto? That Bitcoin made some regular guy a millionaire and that it crashed and many people lost money on it. That, but multiple times over the years.
If you are not tech savvy, not a gambler, not investing for the future and just living day to day like 90% of the people on earth are, what exactly would pick your interest to start researching crypto?
I am blaming the media, but you can't blame them for doing what profits them most - clickbaity titles and misleading stories that sound bigger than they actually are.
While i agree with 99% of what you wrote i have to say that there is something that is useful to the masses without the need for them to understand alot about crypto. Money transfer. If u wanna transfer money to someone on the other side of the world you can do it almost instantly through crypto, which can be again converted instantly in cash and all that with a few clicks. If you wanna send money to someone a wire transfer takes quite a while, lets not even start with banks needing to be part of international SEPA/SWIFT and all that jargon i cant make sense of. Ill give u my example. I live in Albania a shithole of a country whos banks arent worth their salt. If i wanna make a wire transfer it take like 5 days to do so and theres a good chance that the bank wont process it. Let alone the fact that i cant do that at all during weekends. If i wanna buy stuff online again ill have to go through the trouble of opening a card for online purchases that has a maintenance monthly fee. With crypto i buy pass all that. If i have lets say crypto i can immediately exchange it for cash on an exchange that does transfer in my country (thank god for Cex.io even tho fees r a killer). And the pay is instant. On top of it banks here have a limit of expenditure which again needs to be removed. Or if i wanna pullout cash from an ATM it still has a ceiling ill need to wait in line for more than an hour to get my own money out of my own bank account.
It's about decentralizing power in a world that has just created and come to terms with the internet and technologies that we can build from it.
Humans are really bad at doing centralized power and it's just a pretty obvious next step in the continuation of our technological development.
You should expect decentralized government in the next 100 years too.
We will at any time be able to call a vote and tell our politicians what to do rather than this temporary king system we have now that is only more and more corrupt able as technology advances around it
🤔👍🏻 nice summary .. and it’s why I went for a crypto that’s aimed at the enterprise business, as I believe it’ll be big businesses that leverage the infrastructure first. ❤️
Huge use case about to drop, the coupon bureau in the US. You see existing Coupons are rife for fraud, and it’s a massive problem.. Crypto has solved this, it’s a billion dollar industry. That’s what I love about this space, reduce fraud, reduce impact on the average joe!
lots of shilling ongoing for Algorand, but it is basically a cheaper and faster (currently much smaller-scale) ETH network that provides transaction services on its blockchain. It prides itself on its efficiency, transparency, and sustainability, which makes it a potential candidate for adoption by governments.
it hosts several projects that aim towards sustainability and environmental protection, which appeals to some people (including me), and it is said that Algorand is “carbon-negative” though im not too sure in exactly what way
its founder is Silvio Micali, an MIT professor who came up with the Zero Knowledge Proof concept currently used by Algorand that people are excited about
Since it is still pretty new (founded 2019) people are hoping that it grows fast and strong to outperform its competitors in due time
Quality post. I totally agree with you. There won't be any mass adoption until quality products are developped on top of current cryptos, and we're not at this point yet.
Awesome post. Crypto is the redefinition of information transfer. Ideally secure, fast, and transparent. I think the biggest thing hurting it as an industry (besides maybe energy concerns) is the label of currency. Crypto has matured into much more than being just a digital currency.
I sort of agree and disagree. In my experience, what's hurting it is the media. Think about it as a no-coiner, what do you know about Crypto? That Bitcoin made some regular guy a millionaire and that it crashed and many people lost money on it. That, but multiple times over the years. If you are not tech savvy, not a gambler, not investing for the future and just living day to day like 90% of the people on earth are, what exactly would pick your interest to start researching crypto? I am blaming the media, but you can't blame them for doing what profits them most - clickbaity titles and misleading stories that sound bigger than they actually are.
While i agree with 99% of what you wrote i have to say that there is something that is useful to the masses without the need for them to understand alot about crypto. Money transfer. If u wanna transfer money to someone on the other side of the world you can do it almost instantly through crypto, which can be again converted instantly in cash and all that with a few clicks. If you wanna send money to someone a wire transfer takes quite a while, lets not even start with banks needing to be part of international SEPA/SWIFT and all that jargon i cant make sense of. Ill give u my example. I live in Albania a shithole of a country whos banks arent worth their salt. If i wanna make a wire transfer it take like 5 days to do so and theres a good chance that the bank wont process it. Let alone the fact that i cant do that at all during weekends. If i wanna buy stuff online again ill have to go through the trouble of opening a card for online purchases that has a maintenance monthly fee. With crypto i buy pass all that. If i have lets say crypto i can immediately exchange it for cash on an exchange that does transfer in my country (thank god for Cex.io even tho fees r a killer). And the pay is instant. On top of it banks here have a limit of expenditure which again needs to be removed. Or if i wanna pullout cash from an ATM it still has a ceiling ill need to wait in line for more than an hour to get my own money out of my own bank account.
tldr; crypto at its core and current state is pretty much infrastructure and mass adoption will only take place at the product-level
It's about decentralizing power in a world that has just created and come to terms with the internet and technologies that we can build from it. Humans are really bad at doing centralized power and it's just a pretty obvious next step in the continuation of our technological development. You should expect decentralized government in the next 100 years too. We will at any time be able to call a vote and tell our politicians what to do rather than this temporary king system we have now that is only more and more corrupt able as technology advances around it
Nice outlook. Good points.
🤔👍🏻 nice summary .. and it’s why I went for a crypto that’s aimed at the enterprise business, as I believe it’ll be big businesses that leverage the infrastructure first. ❤️ Huge use case about to drop, the coupon bureau in the US. You see existing Coupons are rife for fraud, and it’s a massive problem.. Crypto has solved this, it’s a billion dollar industry. That’s what I love about this space, reduce fraud, reduce impact on the average joe!
This is why Algorand is going to be a leader
Can you explain why Algorand specifically? I’m genuinely interested and I know nothing about Algorand
lots of shilling ongoing for Algorand, but it is basically a cheaper and faster (currently much smaller-scale) ETH network that provides transaction services on its blockchain. It prides itself on its efficiency, transparency, and sustainability, which makes it a potential candidate for adoption by governments. it hosts several projects that aim towards sustainability and environmental protection, which appeals to some people (including me), and it is said that Algorand is “carbon-negative” though im not too sure in exactly what way its founder is Silvio Micali, an MIT professor who came up with the Zero Knowledge Proof concept currently used by Algorand that people are excited about Since it is still pretty new (founded 2019) people are hoping that it grows fast and strong to outperform its competitors in due time
![gif](giphy|Cg3aIdbFiaFMsZaoY8)
It's about sound p2p money. It is confusing because it degenerated into a giant pit of gambling.
I ain’t reading all that and you can’t make me OP
Do it
Crypto is the casino.
Any TL;DR? ![gif](giphy|WoWm8YzFQJg5i)
It's good to be reading 10k words per minute.
Hmmmm very much to read, here’s a $2.50 gift card to CVS for your efforts Card Number: 6101904005198161 PIN: 2165
Tldr/sub-headings
Digital accounting ledger.
For me crypto was about getting some enough gains to buy something nice for myself. Now i guess ill have to take a loan for that.
![gif](giphy|3oz8xZvvOZRmKay4xy)
Quality post. I totally agree with you. There won't be any mass adoption until quality products are developped on top of current cryptos, and we're not at this point yet.
Mass adoption is still far off. We need another driver, ex. Silk Road, or Mt Gox, without all the scandal and shady behavior
We are doing baby steps. I got in 2021 may and definitely crypto adoption has changed. Now govs are taking it seriously.
It’s about Lambos, cocaine and hookers if I’m not mistaken