Cryptocurrencies - Most Misunderstood Invention This Century?
Wirtschafften says "Crypto is the most misunderstood invention of the 21st century".
Here's my response!
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▶️ 3Speak
I really agree with you 😅. People who are in crypto are well not aware what is the use cases if crypto they only know this coin is pumped and ohh no this coin is dumped. But they really don’t know crypto.
And then came government who think that crypto has only dark side.
And I last there is a mad person who thinks he is satoshi
Yes it's if you ask people in any place about bitcoin or blockchain they'll answer you yes i know it it's something about a ponzi scheme and the you ask them about how banks and money works they don't know so i think it's just wait some time to see more and more people talking about blockchain tecnology and teaching people about it and in that moment people will understand the potential this technology and how it can give the power to people. Regards and good topic
Hello, @louisthomas, my opinion about it: we all have enough intelligence to understand absolutely everything, what happens is that not all people have perseverance and the will to learn. BTC is a new but understandable technology. I learn with my son dim753.
Blessings
I think the value proposition of cryptocurrency is decentralization, that is, the fact that it is owned or governed by no single party. Censorship resistance is a byproduct of that. There are many things in the world owned by nobody but none of them have ever been complex artifacts like blockchains before Bitcoin came into existence.
Hierarchies of power existed since the dawn of complex life. They've been an integral part of civilization, too. Thanks to cryptography and an increasing share of every possible type of resource (including violence) being being governed by computer networks, there is a theoretical possibility of doing away with hierarchies of power altogether. That would be something utterly radical.
@louisthomas it's 110% true dear. People are connected with banks from many decades so this type of invention takes some time to make place in the people heads with his true benefits. Actually money is basically you can say a trust based system, People know the value of $100 paper note that is granted by Govt but if same currency note gets banned by Govt, I know people will not give them a second look. Here's some funniest things i have listened from many persons about crypto:
We all are the earliest generation who only understand this crypto phenomena.
I think the problem is down to trying to understand blockchain, crypto and bitcoin and how the benefits aren't always universal. We had a forum post at work on blockchain which mentioned permissioned networks alongside bitcoin and that justs adds to the confusion. Comments were generally "I don't understand, is it just something that makes things more secure".
I know a lot of people who work in tech that don't really understand it (haven't researched) so even harder for people with less interest or expertise to grasp easily!
Cryptocurrency is not understood by people , the main reason for this is the mainstream media and the government, Because the general people are not interested into new technologies at the beginning. They just believe what the government and media tell them. It takes some time for the general public to get into any new technology. Till then it is our job ( The crypto Enthusiasts) to keep the technology alive.
Yes ... sometimes Cryptocurency is often misunderstood. People often expect huge profits without thinking of the disadvantages. They often buy crypto on a large scale while hoping for huge profits. And when the price falls they will lose a lot. in the crypto business we must be good at speculating and gambling.
We are the first movers!
Hope all of you guys will stay on board.
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