Quickest Way to Achieve Worldwide Crypto Adoption? | Education VS Speculation
I wanted to respond to a video that Andreas Antonopoulos made recently discussing the best way to help promote cryptocurrency adoption around the world.
I wanted to share my own thoughts on the matter. Let me know what you think!
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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Most people are not like you or those of us who watch your videos, even an inquisitive newbie. If we're talking about mass adoption, I think most people won't use Bitcoin (or any cryptocurrency) until they absolutely have to. We are still in the early adoption phase. It's a new technology and it's not user friendly yet so a lot of education and innovation is still needed.
And also because of all the negatives that are often associated with the speculative side. A lot of people who don't know much about cryptocurrencies only hear the worst from all the FUD in the media, so it takes some patience and understanding from our side.
and so is the media!
Bitcoin is trash
I think the biggest problem is that the concept of Tesla was quite simple for people to wrap their head around. There isn't a great amount of knowledge required to understand an electric car in terms of usage. Bitcoin/crypto on the other hand is a much a bigger concept for people to fathom. Once people do have an understanding, I still believe the UI/UX around purchasing and storage is still not simplistic to gain mainstream adoption.
I think once there is more clear education with less technical terms and more simplistic purchasing and storage features we will see an uptick in adoption.
Quickest Way to Achieve Worldwide Crypto Adoption?
Give me a 100% upvote.
and btw mike I love the DGB profile picture. I have been investing and following digibyte for a long time now!
Done
me too plz :(
Ha, it's definitely going to happen now, watch this space.
Hahaha you're so generous man
Loool
Im placing full responsibility formmy financial decisions on you. Good luck!
The most important here is the massive adoption based in the technology and how the technology can help the bussines and improve the process just in that way more and more bussines will adopt cryptocurrency and the blockchain technology in general, you said something important and it's the case of bitconnect and how that affected negatively the market but with the time people will believe again in this technology :). Regards
The thing is, there is an extraordinary amount of technology in the blockchain world that already exists that can improve business performance ten fold, but because of the significant decline in the price of all digital currencies business are staying clear of blockchain and crypto.
I think they can all go hand in hand, but yeah speculation is definitely the fastest route. Although, as the second commenter said, we need to show the superiority of crypto above all to speed up mass adoption
Similar to Tesla and Elon, cryptocurrency needs to look better and outperform regular fiat. This is not necessarily the same of the greed or profit factor as I kind of think that is opposite of what is needed for adoption. If everyone buys cryptocurrency to hold for speculation, it has no use case and therefore will have no value over time. The better side is to make sure it continues to scale and make it easier, cheaper and safer to use than fiat for better adoption.
Without Crypto outperforming fiat, adoption will probably take a bit longer. But just as how we saw in 2017. A bull run peaks the interest of the masses! So we would probably need another bull run before we can see major adoptions in business and or society.
I see your point on why you feel focusing on speculation is the way to go. If you even look so far, it is largely speculation that has brought a lot of people in thus far, myself included. I love the background btw
nice
The dys-inflation , if it ever occurs, kicks in after we are all dead.
Besides deflation is much worse than inflation (as bad as the latter is). Japan is stagnant because of deflation.
But most importantly you are not going to convince the average saver to keep his assets in anything as volatile as crypto.