Lately im getting more and more doubts about the usecase of cryptocurrencies and if this will ever change. I know most of the investors barely care about the usecase of crypto they just want the price to go up. If this would be a drive for crypto there would be some crypto wich should do alot better than others but still lag behind. I would be lieing if I said that money isnt the first thing that lured me towards crypto.
But over the time i liked the idea of virtuele money and a way to “follow” money on the chain. Being able to spendt it like real money and no inflation, perfect no?
But now quiete some time later im having second guesses about how this would be implemented and work in society.
For starters yesterday i got a new device. I manage most my wallets and stuff through my mobile phone. I had to fill in multiplr 12 word seeds, imported wallets, it took some time looking up the seed and syncing my wallets, but overal nothing too tricky(if you manage your shit or have your old device).
Suddenly i had to think about my mom, who has lost 5 email adresses,Apple ID’s, etc over the course of a few years. She has this little book she writes down all her passwords in and still managers to loose her stuf. A thought crossed my mind, how many people contact their banks because they lost their pin? Or their login? Do we really want people to manage their own funds and loose all their shit?
Besides that, to be able to use and spendt crypto you need some degree of computer knowledge, atleast be comfortable with computers. Let me tell you theres plenty of people that dont know what theyre doing, not just the elderly. I have plenty of collegues who cant even attach a file to an email.
Next up, the fees for using the blockchain. Fees to swap fiat for crypto, fees to send to the wallet, fees to send from wallet. Theres too many fees, and for pow its low fees for now but what happens once theres no more mining rewards? Logically fees will go up for miner rewards or the network would crumble.
I just adressed a few things and I didnt even mention volitality, the confusion of multiple chains/networks ,scams ,etc. I could go on much longer. I just dont see crypto adoption increasing if this stays the same. Humans hate change and the only way for people to make it easier acceping change, if its simpler, safer and better than previous method.
As i see it now its just more expensive and complicated and definitly not safer.
Tldr: crypto is too complicated for alot of people.
submitted by /u/ChainSentence
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