You are viewing a single comment's thread from:

RE: Why I'm Negative on Bitcoin

in #bitcoin7 years ago

Logically, I tend to come to the conclusion that Bitcoin doesn't have realistic use today or in the future in the form it is in to be a standard for transaction. If it is to be a store of value, I feel like it will end up being gamed by Wall Street, and that's kind of mission failed for Bitcoin.
For any crypto to succeed in the mission of realizing the potential for better form of money, or any confident medium of currency that people don't mind trading you goods and services for, we're so far away from it. But you have options like Bitcoin Cash, as well as so many others, that assumes this as a hurdle to overcome and puts resources to marketing, and evolving the protocol. This seems like the right path. Do you think the crypto community has the energy and direction to continue to fulfill that original "mission" the reason why a lot of crypto people got into it in the first place? or the whole thing will be gamed, because of course the people that are coming in now in the mania are only in it to "play the game".
Does the mass even want to take control of their own money? Do they even care? I tend to think that the mass will always be "gamed" because the mass may not choose a better alternative. Or can the vision of crypto appeal to the masses?
Crypto needs to be like Apple, well designed, any idiot can use it.
Right now mass adoption looks like a blessing and a curse. Euphoria is there for the investor/speculators but maybe also for the teams behind the projects. I think the crypto that will survive needs to have a cool head and think about whether this hype is productive in the advancing of the mission, or if you buy the hype we'll all be gamed again by the ones in control.

That said, anyone know of a coin that excites you? In terms of technology and the vision, not the hype.

Sort:  

I think it will eventually evolve into something awesome (the original 'mission'), just going to take a lot longer than people expect. A bit of crab bucket mentality with hard forks in cryptocurrencies (e.g: ETH vs. ETC & BTC vs. BCH).

The masses don't care - they may claim they do, but what they want is convenience and somebody else to take care of all the problems (which is what banks do - you don't have to worry about personal security or just about anything else). It definitely needs to become more convenient to use than other alternatives for it to see mass adoption.