Observations of a Newbie on Cryptocurrency

• Cryptocurrency is somehow strangely a lot of fun.

• It is refreshing to handle ones own currency without dependence upon centralised authorities.

• The bar for participation is low and anyone willing to learn can open a 'wallet' meaning it is hugely accessible to the 'unbanked' or those with shitty credit scores due to low social conformity or outstanding student loans.

• Transaction time with BTC and Etherium is slow. Litecoin seems extremely fast in comparison.

• The interface and complexity is still beyond many people

• The long chains of numbers and HEX codes for private and public keys are hard for dyslexics and those with dyscalculia

• The irreversibility of transactions that go amiss due to incorrectly inputted addresses makes it currently very vulnerable to human error

• The proof of work model to generate 'value' of bitcoins seems to be a big waste of energy. Turning electricity into abstract commodity seems entropic.

• Current interest is turning it into a speculators playpen with good project buried and meaningless coins buoyed by instinctual fomo waves on the exchanges.

• Many consider exchanging nation-state currency for cryptocurrency a kind of 'betting' rather than engagement with an emerging system.

• The important thing will be accessibility and usability of interface and broadening means for crypto to pay for real world services - which can work the more people 'migrate' to that system and use it as 'real money' rather than a kind of novel money-making investment.

• It is much easier to exchange pounds for cryptos, but harder to exchange cryptos for pounds, but new services and startups are trying to address that.

• Estimated 0.04% worlds population have adopted so far, meaning the concerns about having 'missed the boat' are erroneous ... and looking at it in terms of investment commodity rather than a new paradigm of exchange to learn, support and engage with.

~

To the moon,my friends,to the moon.