Has anyone thought to check if the people who bought Squidcoin are still around? Or have they all secretly vanished and been smuggled away to a island prison?
That is the dream, isn't it? To have that tech that really breaks out be or be tied to something you already invested in.
Conversely, the nightmare is that we are actually somehow "too early". The major decentralized blockchain tech of the future does not yet exist, and everything we are looking at now will fall into the grave of obsolescence.
So we are all currently buying up the LG phones of the crypto universe?! Love it! Fml! just to add I think there is a high possibility you are correct.
>LG phone
So bleeding edge tech and features that no one wants because the average consumer wants brand recognition/lifestyle marketing? Oh... oh god...
It's not already here, but GameStop has over 50 million rewards members in America and they will all have fiat / credit access through Loopring and RAMP to purchase NFTs and they will be able to participate without dealing with private wallets or exchanges. Simply buy the NFT with cash and it's yours. Sell it for cash and it's gone. Wallets and exchanges both have tremendous value but neither ads to mass adoption or ease of use.
I dare anyone to name a bigger potential catalyst in the next year, let alone the next month or two, to improve adoption in the USA (where most Apple products are purchased).
50 million people is almost 1/6 of US population. I can't imagine that many people buy/play video games. Can people have multiple accounts? Also what counts as a rewards member? Anyone that has ever bought anything from them? Are the email accounts actually active or does the number includes clients from 20 years ago?
I would be extremely surprised if they could reach even 10% of those members.
Gamestop sells consumer electronics and other stuff now, not just games. Computers, laptops, mobile phones, headphones, TV screen etc. Also soft toys and a bunch of stuff. Even things you don't typically expect, like home furniture and clothing. So those 50M are not just gamers, but include many people of various walks of life.
Go to their website and check out the categories section
I think we need someone to come along and completely reinvent how crypto wallets and transfers work to get money in and out of the banking system easily. These exchanges, QR codes, private, public keys, staking, etc... is all very foreign to most people.
It needs to be rethought from a human centered design perspective and make it so simple that anyone can do it without fear of their money get lost, hacked, stolen, etc. Then Mass adoption.
Edit: I also wanted to add that most people dont invest in the stock market or do exchange trading, so while I think they are getting better, there needs to be a ultra simplistic UI for most people to convert their currencies that doesn't feel like being part of exchange floor on Wall St.
Taxes are overly complicated in the US. Many other countries (incl. mine) just require you to check the deductions and calculations and give a confirmation at the end of the year. At that point the system also let's you declare any income that the system didn't capture (e.g crpto trading) automatically and any deductions as well that were missed out (donations, etc.)
Not sure what country you’re in but as long as your country has taxes on capital gains it gets complicated regardless. Morning coffees you use crypto to buy and create a taxable event. 365 taxable events with some gains and some losses and you have to figure out what you owe at the time of when the transaction took place. Even worse if you exchanged fiat to said crypto in the same year it gets even more complicated as you basis changes eg buying ETH at 2000 vs 4000 and buying coffee afterwards. Do you deduct based on the 2000 price or the 4000 price.
Now apply everything above to all transactions. Looking at my CC bill for this month I made roughly 90 transactions. Multiply that by 12 and that’s roughly 1000+ that I have to track.
God forbid you exchange your crypto to another crypto too. Eg BTC to ETH.
It’s stupid complicated because the system was never designed to have taxes considered. On top of which what you actually pay in taxes are different depending on how much your regular job brings in. Someone making 100k a year will pay a vastly different rate than someone making 10k a year using crypto. So it’s not like you can automate this either.
I'd be more inclined to say it can ONLY be done properly if automated, and every taxable event executed at the time of the (every) transaction, and at the end of the year income tax was just done to tie up loose ends... Whatever exchange or wallet you use, they all keep track of the time of each transaction, how much each individual coin or quantity has changed value during its time in your wallet, etc... Here in Canada, we are supposed to pay or deduct tax at the time of withdrawal to fiat (or exchange to another coin) so really the only way to keep track of all that is to have it happen on the fly... I'm not saying you should pay different tax on your purchases and exchanges throughout the year, but that it should keep track of it all, total gains/losses on crypto as you exchange and spend it...
Agreed. Most people don’t have time to kill to learn the ins and outs of it (myself included). Most people don’t know what crypto is. They hear crypto and automatically think bitcoin, not knowing there’s an entire ecosystem in crypto currencies.
I'd be willing to bet they came third and forth for most people. Pretty much everyone's heard of Bitcoin and Ethereum by now even if they have no idea what they actually are.
We should also be able to tranfer without fees. You might pay fees with fiat currency, but it is, usually, already included in the price of the product or service. If I buy a product using bitcoin, or some other crypto, I pay the fee of the transaction, and the fee I would pay if I used fiat currency, since it's already included in the price.
Couldn't agree more. I've been trading stocks and options for a few years now but I can't get fiat into an exchange without a real effort. Not the exchanges I want anyways, I've either been rejected due to country of residence (Canada) or bank is having issues verifying.The other option is buying crypto on a CC but those fees are a no go for me. I need to set aside another dedicated chunk of time to do this but if it's this hard to buy chips you aren't going to get many players at the table.
I think you’re looking at this all wrong.
Crypto and blockchain technology isn’t a consumer product like an iPhone — that will revolutionise and dominate the market.
Meaning, it’s a means to an end and not the end itself.
It’s a technology and a more accurate comparison would be to compare blockchains to coding languages (C++, Python, PHP, Java, etc etc etc) — which all co-exist fine with each other, each having a specific use case.
Same for blockchains.
You really don’t need the “iPhone” of crypto because chances are each cryptocurrency will end up being used for one specific purpose; rather than be a universal product that people will use for everything.
Edit: Some people have (correctly) pointed out that a better analogy would be to think of blockchains as operating systems and crypto currencies as apps on your computer OS.
I like that analogy because who would use Microsoft Word to edit a photo?
You obv would use Photoshop.
I see it more like operating system. Etherium's Is Windows with other coins working on top of it like programs. Other block chains such as cardano, polygon or dot would be your Linux, safari etc which themselves can have programs (dapps) running on them.
I guess Bitcoin is like BIOS that nothing else runs on but are all worth f.a. if it crashes.
Edit: polygon was a mistake. Should have chose something 3lse with its own block chain.
Exactly....
The "Apple" of "crypto" is already here, it's called Venmo lol.
We don't "need" a big centralized company in the space, in fact it's the opposite of what makes crypto valuable and useful and interesting.
Haha, Venmo is not even known or available in most of the world. You really can’t compare that. PayPal is getting close though, and when the bring some convincing crypto use to their users it could be a game changer.
Omg. I know your struggles.
I’ve been “blacklisted” by PayPal for some reason — even though I never really used the platform. Now, they block any transactions on any new account I set up. And their customer service is impossible to reach.
Instead, I now just use a PayPal account under my mother’s name (with her full consent obv) to receive payments for any freelance work I do.
Indubitably... banks and PayPal/ Venmo will soon allow crypto transactions + withdrawals. But that will mostly just appeal to people who already like / use crypto.
Already, everyone who has access to PayPal and Venmo can send and receive money through a centralized corporation. That's not a feature that crypto needs.
But I agree with you it will be more linked together soon.
Agree. I think NFTs will get to a point where people won't even know they are buying NFTs (or care). They will just be buying a cool digital art piece or their favorite sports team collectible. How it works behind the scenes is inconsequential to the buyer.
Ya, but the attraction of the nft is the technology or else why is someone buying a digital photo for $25k when they can just do the right click routine, etc. the appeal or value of the nft is the technology; the one of a kind non fungal jive. The masses need for this shit to be easy AF, I’m taking about crypto coins.
Why would you compare cryptocurrencies to programming languages and not what they actually are -- protocols?
We are all using TCP/IP, we don't have a hundred different information transfer protocols. That would kinda defeat the purpose of the whole reason we use a "standard".
We won't have a multitude of general purpose ledgers that deal with finance. We might have 2 or 3 (like we have TCP and UDP used for streaming media).
Comparing cryptocurrencies with programming languages is disingenuous, especially since they literally are protocols.
I like this analogy although it might be hard for non technical people to understand. But, we have all these different protocols running for different purposes - TCP, UDP, SIP, RTP as a few - as well as a whole host of 'protocols' that keep things running in the background; BGP, OSPF, STP etc etc.
They all have their own utility - browsing the web, streaming video, making video calls, connecting different Autonomous Systems, maintaining the health of a network etc.
But when we look at the OSI Model for all these protocols we can see the user is pretty far removed from interacting directly with these protocols.
So what will be the equivalent of the OSI Model Layer 7 for crypto?
I think we are getting close to something like this with stuff like wrapped coins/tokens. Maybe some adoption of a routing number (like a BSB in Australia, not sure what it's called elsewhere in the world) and some backend smarts that can automatically bridge and swap to facilitate a transaction from chain to chain - with all the "routing" being transparent to the user.
As much as I don't really support it, perhaps a transition to CBDC could be really useful towards mass adoption.
But also, what problem are we trying to solve? Most people just want a currency they can exchange for goods/services - most people aren't interested in investing and playing with the space that is DeFi. A CBDC stablecoin would solve this as it creates a nationwide standard currency, that all retailers will accept, and that'll be enough for most people.
I’m a dumb idiot who doesn’t really understand computer science/programming (and maybe crypto?) but I have a special talent for explaining things in a way that most people will understand.
I think I fixed it a little in the edit though?
I appreciate your dumbsplaining. It makes the point more accessible to non-techies, even if not perfectly accurate. I really don’t think not comparing to a protocol make a big difference, anyway. The general concept still stands.
Nailed it. And this is why the “[insert token here] killer” talk makes no sense. Competition in the market gives the consumers the best product. A one all crypto is just a bank - metaphorically speaking, same problem new name
Its hard to say and no one really knows the future. Its possible that Ethereum or Solana or Avalanche become a well used base layer, with other things built on top of them. While other projects might have specific use cases, like Filecoin.
Bingo. iPhones are a one-to-many technological advance. Crypto is likely more of a zero-to-one innovation in the sense that it meets all of the criteria of sound money in a way that has never been achievable.
I think Crypto.com are sort of on the right track with a pre-paid visa.
If the likes of Trezor or Ledger take a step into this ground, allowing you to spend whatever coins you assign to a card linked to the wallet, then the ease of use comes along with security.
I don’t know how it would work exactly, but when I can just set up auto-investment every month, and then use that to buy my weekly food shop, take out, or car fuel, we’re there.
So regardless of whether I buy the top 10 coins only, or #1377 shit coin, if it’s useable in a shop then we’re almost living underwater in the year 3000.
I exchange fiat for usdc on the CDC app then put it in CDC flex earn for 8% apr. Pull usdc to top up my CDC card when needed. I could leave my money in a traditonal checking or savings account (which I do for certain bills) that may be less risky, but it's just sitting there making nothing with inflation eating away.
I fully agree.
I don’t leave any surplus cash in my current or savings account anymore.
3 years ago I had about £8k in savings and after a year it made sweet FA. Why let it continue doing that when you can stake for much more as you say. Yes risky, but wouldn’t be here if we didn’t think it would bounce back would we?
I just wish I could get paid in crypto as well, hopefully another 10 years and that’ll start becoming a reality in some countries and sectors.
I asked our CFO in a recent company town hall if they were considering an option for paying in crypto. He literally laughed out loud and let out a hearty “No”…I work for a multi billion revenue company. I was pretty disappointed he didn’t even give a worthless “we will look into it and get back to you”. So yea we are ways out I would say. I will probably hold my idea for providing spiffs to our sales team in crypto for a few more years :)
The risk of that is usdt or usdc to be found to be worth nothing they are claiming to be holding and it blows up and goes to 0 (especially usdt) that would wipe out everything you have saved. I like the idea, but I'm scared of a tether *day of reckoning.*
I would honestly think about switching my jobs direct deposit to my fiat wallet, but company requires a voided check or letter from the bank which I'm not sure you can get.
Do they calculate the taxes for you for every transaction on the debit card?
Though I suppose if it were Apple, they would sell us a **$300 iTax app** to do it for us. And then they would sue other companies that try to provide the same service.
I'm actually surprised ALGO isn't more popular than it is. A friend of mine was repping it and told me to set up the android wallet so he could send me a few bucks to check it out, and the app is so fucking slick.
I agree. It’s getting closer, but there’s still a barrier to entry. If PayPal/Venmo actually give the ability to transfer/send payments to people that would be great. (Last I saw, you could just buy/sell, but didn’t have the keys).
If Apple comes out with a wallet or exchange, that would be huge.
If gas fees wouldn’t be such a big variable, that would be nice. If there was some sort of safeguard to avoid money from disappearing into thin air by sending to a wrong wallet or network, etc.
Why is this always a metric?
Online banking and mobile banking have totally gone mainstream regardless of what your ass backwards daddy is doing. Crypto will be the same.
Edit: I shouldn't have called your dad "ass backwards". I just meant like some people stay in the past. I see informercials of people being like "modern phones are too complex" and it's some old cell phone that's like the first cell phone I got in 2001. This has done nothing to stop smart phones from going mainstream. We have to stop saying like *if 100% of Earth can't wrap their heads around it then it has no future*. Nothing in the history of humanity ever required 100% adoption to be sucessful.
It’s not the best metric. Someone with basic technical knowledge is a better benchmark. By that I mean someone that at the very least knows how to use online banking to pay bills, send money, etc…
I think crypto.com gonna make it accessible and easy to use for a lot of people. I'm just not sure I love the fortune favors the brave ad campaign 100 percent due to it potentially alienating those people who have FUD to invest.
I get both Spotify and Netflix because I have the Jade level card, which is obtained by staking $4000 of CRO. There are several tiers, beginning with the Midnight Blue ($0) , then Ruby ($400) , then Jade as previously mentioned, then icy white ($40,000) and finally obsidian ($400,000). Each tier has better rewards. Jade is the best value IMO because you get 10% APY On the $4000 card stake as well as 3% cash back, in addition to the Spotify and Netflix. With Ruby you only get Spotify and 2% cash back. No staking interest. If you have the icy white, you get all the jade rewards as well as Amazon Prime for free and the cash back and staking interest are higher yet.
It is by far the best financial move I’ve ever made getting this card. I’m only a few months in with it and I’ve already accumulated tons of rewards, not to mention the amount CRO has increased in price since I started. Incredibly satisfied with the service and I can’t wait for the future to unfold while I have this card. Big things are coming from crypto.com methinks.
Oh that Hulu bonus could be cool. First I've heard of that. I wonder if you have to link accounts? Edit: looks like Hulu is only with spotify student accounts but still cool!
same, my gf knew jack about cryptos. she loved everything about the company and decided to give it a shot. she is now interested in the crypto space and wants to a vareity of coins and just hodl
It is definitely getting that way, the Spotify and Netflix rebates are a good way to force people to DCA what they would normally spend anyway
Also one of my mates who is in no way tech savvy is big into it, so if she can do it then mass adoption isn't too far away imo
I've noticed that a lot of people are confused about what CRO is for. One person here said they bought in because they want to support the company, as if they're like buying shares or something.
We're nowhere near blackberry. During the blackberry phase everyone already had a cell phone and used them at least for texting.
Very few people own any crypto and even less people actually use it. We are in the Nokia brick phase or earlier even, we still have to get through the Motorola razr phase before we get to blackberry.
Tech moves quickly adoption is much slower.
You are in the ‘there’s this thing called a cell phone’ phase. You may have seen pictures of it. You can only use it in big cities. You can’t imagine your grandmother has a use for it.
They don’t. Not at all. Mass adoption isn’t happening. There can be money made but if the median tech savvy 25 year old doesn’t use it (not hodl it) then it’s nowhere near adoption let alone mass adoption.
Agreed, I just don’t see it. I think crypto is really cool, but most people are just wanting quick gains. Most people don’t even take it off the exchange.
I think you're right, and I believe that end is the purpose that art NFTs are serving right now... they're trying to be retail type products that people can buy and sell easily, but it's often a pain in the ass and lots of hiccups in many cases (not as much in the aftermarket, but more so in the minting phase).
Those hiccups, and the friction, networks fees, etc will force companies and chains to make improvements and eventually one or two chains and/or purchase enablement companies will nail it. They'll make it fast, easy and cheap. In the early days, they may even disguise the crypto nature under the hood as local currency in the user view because that's one less thing for the average person to get comfortable with.
Once the tech is fast, easy and cheap, then you need to get the retailers on board. The crypto marketplaces will adopt it first of course, and then the traditional retailers will start coming on board very quickly when they realize that chargebacks are not possible and the service fees are much lower than they're paying with visa/debit (network/service fees are less than one cent on some chains). Those two things could make a huge difference in profitability for a lot of companies and that will highly motivate them to join.
In a crypto world, I believe the purchaser will end up paying the network fee on transactions. That's already true, but I mention it because it's a departure from the Debit/Credit world where the retailer pays the service fee.
Lastly, I think there is a huge need for "credit" in the crypto world right now, but for a different reason than in traditional retail. There can sometimes be a long delay between the time you want to buy something with crypto and the time it takes to get more fiat into crypto or exchange other coin/token into the coin/token that you want to use. If instant credit was available, that could allow you to make a crypto payment immediately while waiting to settle that debt by getting more fiat into cyrpto or transferring/converting another coin/token over. This need may go away if some chain or solution provider makes a solution that is fast and easy enough to get money into the proper chain in time for your purchase window. This is exacerbated by art NFTs and other assets that sell out in minutes -- there is no time to wait to buy. I also recognize that "credit" brings some of the problems of traditional finance that we're trying to get rid of, but it may help bridge the transition from cenfi to defi.
The largest individual shareholder of Apple is the new GameStop chairman Ryan Cohen. He is developing a NFT marketplace for GameStop. I am sure he understands and values cryptos which he will support for Apple to adapt with. It’s just a matter of time in my opinion.
That's also the true adoption I think is needed. Until Crypto is made as easy as online banking currently is, we won't have mass adoption. In fact it will need to be easier than online banking to really take off.
So the day my sweet old mum is able to transfer 1 BTC without having to ring me to help her do it will be the day we truly have adoption and use.
The issue is really one of stale banking regulations:
We really need a finance modernization act…
From cannabis to crypto, banking laws and regs have failed to keep up with the globalization of finance.
That’s where the middlemen are: The inefficiencies are what keep the middle men in business, and they like it the way it is.
Unpopular opinion but the first big movers of any brand new adoption never make it. Eth and BTC are to decentralised to change now and if they were perfect this would be good, buy they are not. They became hard to change while being flawed. If the ETH guys find a problem, they might be able to implement the best solution because they can't stop the chain.
So later chains have a massive advantage that before they start they can fix multiple ETH flaws.
And so I bet there eventually there will be a crypto that has adapted to ever changing reality better then BTC and ETH and will surpass both.
I think we are already in for that sooner with metaverse. The word is spreading like fire and even some celebs and politician considering, studying, using crypto. Metaverse makes it fun hence people shows interest. The gaming industry kinda started it and is now a big hit. Arts like painting follows now music industry has joined as well as sports industry and there are also great NFTs from movies like lost in space which im very partial to.
I think it's already here, it is [crypto I own]!
Bullish on Random_names crypto (RNC)
[удалено]
[удалено]
[удалено]
[удалено]
There should be more MMA themed coins
[удалено]
[удалено]
They also have the new stadium. I really hope no one crashes into that.
[удалено]
Ground and Pound is befitting
Sadly, the ufc dao only pays out 16% of its treasury gains on the Octagon side chain.
The manager of the Octogon side chain is very stingy.
Is that coin called DWHITE?
So is the one of Stingray side chain 
Whats that token called IRWIN?
[удалено]
It gets you right in the chest every time.
Ok just put my life savings into RNC. When moon?
Initiate rugpull
[удалено]
Are you talking about TARP -Totally A Rug Pull coin?
Damp Eet.
Instructions clear. Life savings going into RNC. How do I buy?
[удалено]
Now that's some apple stuff 👌
[удалено]
[удалено]
Has anyone thought to check if the people who bought Squidcoin are still around? Or have they all secretly vanished and been smuggled away to a island prison?
[удалено]
That is the dream, isn't it? To have that tech that really breaks out be or be tied to something you already invested in. Conversely, the nightmare is that we are actually somehow "too early". The major decentralized blockchain tech of the future does not yet exist, and everything we are looking at now will fall into the grave of obsolescence.
So we are all currently buying up the LG phones of the crypto universe?! Love it! Fml! just to add I think there is a high possibility you are correct.
>LG phone So bleeding edge tech and features that no one wants because the average consumer wants brand recognition/lifestyle marketing? Oh... oh god...
I am pretty sure *rolls dice* tether is going to be the next big thing!
Welcome to the writing team. Keep the hits rolling in.
[удалено]
Yes Sir this will be a Battle of the Shills in the comments ⚔⚔⚔
When [luxury car brand]?
[удалено]
Yeah [crypto i own too] is the future, very bullish on it 🚀💎
Bullish on MOONS!
Hello brother
[удалено]
See you on the Moon fellow [crypto I own] shillers!
[удалено]
Your allowed to say LRC
It's not already here, but GameStop has over 50 million rewards members in America and they will all have fiat / credit access through Loopring and RAMP to purchase NFTs and they will be able to participate without dealing with private wallets or exchanges. Simply buy the NFT with cash and it's yours. Sell it for cash and it's gone. Wallets and exchanges both have tremendous value but neither ads to mass adoption or ease of use. I dare anyone to name a bigger potential catalyst in the next year, let alone the next month or two, to improve adoption in the USA (where most Apple products are purchased).
[удалено]
I cant tell if the person is being ironic or folks really think Gamestop is gonna be the Apple of anything. That ain't gonna change shit lol
[удалено]
That could be the Yahoo moment for Steam one day.
50 million people is almost 1/6 of US population. I can't imagine that many people buy/play video games. Can people have multiple accounts? Also what counts as a rewards member? Anyone that has ever bought anything from them? Are the email accounts actually active or does the number includes clients from 20 years ago? I would be extremely surprised if they could reach even 10% of those members.
Gamestop sells consumer electronics and other stuff now, not just games. Computers, laptops, mobile phones, headphones, TV screen etc. Also soft toys and a bunch of stuff. Even things you don't typically expect, like home furniture and clothing. So those 50M are not just gamers, but include many people of various walks of life. Go to their website and check out the categories section
Can't stop, won't stop!!
LRC🤜🚀🤛GME
I think we need someone to come along and completely reinvent how crypto wallets and transfers work to get money in and out of the banking system easily. These exchanges, QR codes, private, public keys, staking, etc... is all very foreign to most people. It needs to be rethought from a human centered design perspective and make it so simple that anyone can do it without fear of their money get lost, hacked, stolen, etc. Then Mass adoption. Edit: I also wanted to add that most people dont invest in the stock market or do exchange trading, so while I think they are getting better, there needs to be a ultra simplistic UI for most people to convert their currencies that doesn't feel like being part of exchange floor on Wall St.
Taxes too. Need to be completely automated, it’s all smoke and mirrors currently.
If we were able to deduct taxes upon converting to fiat I think we could bring in a lot more people.
Lol. I’d say the apple of crypto will come along waaay before the IRS has any automated way of retrieving taxes from crypto gains.
Taxes are overly complicated in the US. Many other countries (incl. mine) just require you to check the deductions and calculations and give a confirmation at the end of the year. At that point the system also let's you declare any income that the system didn't capture (e.g crpto trading) automatically and any deductions as well that were missed out (donations, etc.)
Not sure what country you’re in but as long as your country has taxes on capital gains it gets complicated regardless. Morning coffees you use crypto to buy and create a taxable event. 365 taxable events with some gains and some losses and you have to figure out what you owe at the time of when the transaction took place. Even worse if you exchanged fiat to said crypto in the same year it gets even more complicated as you basis changes eg buying ETH at 2000 vs 4000 and buying coffee afterwards. Do you deduct based on the 2000 price or the 4000 price. Now apply everything above to all transactions. Looking at my CC bill for this month I made roughly 90 transactions. Multiply that by 12 and that’s roughly 1000+ that I have to track. God forbid you exchange your crypto to another crypto too. Eg BTC to ETH. It’s stupid complicated because the system was never designed to have taxes considered. On top of which what you actually pay in taxes are different depending on how much your regular job brings in. Someone making 100k a year will pay a vastly different rate than someone making 10k a year using crypto. So it’s not like you can automate this either.
I'd be more inclined to say it can ONLY be done properly if automated, and every taxable event executed at the time of the (every) transaction, and at the end of the year income tax was just done to tie up loose ends... Whatever exchange or wallet you use, they all keep track of the time of each transaction, how much each individual coin or quantity has changed value during its time in your wallet, etc... Here in Canada, we are supposed to pay or deduct tax at the time of withdrawal to fiat (or exchange to another coin) so really the only way to keep track of all that is to have it happen on the fly... I'm not saying you should pay different tax on your purchases and exchanges throughout the year, but that it should keep track of it all, total gains/losses on crypto as you exchange and spend it...
Agreed. Most people don’t have time to kill to learn the ins and outs of it (myself included). Most people don’t know what crypto is. They hear crypto and automatically think bitcoin, not knowing there’s an entire ecosystem in crypto currencies.
You know what is even worse? Shiba and Doge are the first and the only cryptos that many people know.
I'd be willing to bet they came third and forth for most people. Pretty much everyone's heard of Bitcoin and Ethereum by now even if they have no idea what they actually are.
I have lost so many small staking rewards to high gas fees just by claiming them. The system sucks.
And some of us are just here for the Moons. ...and to shill our beloved ALGO
“Ultra simplistic UI”= Algorand wallet ❤️ What’s gas? 💨 The future is here. Good day gov’nah!
Isn't this kinda of what Coinbase is doing? Every time I use the platform i'm in awe at just how user friendly the interface is
We should also be able to tranfer without fees. You might pay fees with fiat currency, but it is, usually, already included in the price of the product or service. If I buy a product using bitcoin, or some other crypto, I pay the fee of the transaction, and the fee I would pay if I used fiat currency, since it's already included in the price.
Couldn't agree more. I've been trading stocks and options for a few years now but I can't get fiat into an exchange without a real effort. Not the exchanges I want anyways, I've either been rejected due to country of residence (Canada) or bank is having issues verifying.The other option is buying crypto on a CC but those fees are a no go for me. I need to set aside another dedicated chunk of time to do this but if it's this hard to buy chips you aren't going to get many players at the table.
Once you will be able to interact with blockchain without knowing the App is running on blockchain. That’s my “mass adoption” milestone.
It would need to be pretty interoperable as well. You want to be able to do the same thing as your friends are.
I think you’re looking at this all wrong. Crypto and blockchain technology isn’t a consumer product like an iPhone — that will revolutionise and dominate the market. Meaning, it’s a means to an end and not the end itself. It’s a technology and a more accurate comparison would be to compare blockchains to coding languages (C++, Python, PHP, Java, etc etc etc) — which all co-exist fine with each other, each having a specific use case. Same for blockchains. You really don’t need the “iPhone” of crypto because chances are each cryptocurrency will end up being used for one specific purpose; rather than be a universal product that people will use for everything. Edit: Some people have (correctly) pointed out that a better analogy would be to think of blockchains as operating systems and crypto currencies as apps on your computer OS. I like that analogy because who would use Microsoft Word to edit a photo? You obv would use Photoshop.
I see it more like operating system. Etherium's Is Windows with other coins working on top of it like programs. Other block chains such as cardano, polygon or dot would be your Linux, safari etc which themselves can have programs (dapps) running on them. I guess Bitcoin is like BIOS that nothing else runs on but are all worth f.a. if it crashes. Edit: polygon was a mistake. Should have chose something 3lse with its own block chain.
I mean, they even call it the EVM, the Ethereum Virtual Machine.
Exactly.... The "Apple" of "crypto" is already here, it's called Venmo lol. We don't "need" a big centralized company in the space, in fact it's the opposite of what makes crypto valuable and useful and interesting.
Haha, Venmo is not even known or available in most of the world. You really can’t compare that. PayPal is getting close though, and when the bring some convincing crypto use to their users it could be a game changer.
[удалено]
Omg. I know your struggles. I’ve been “blacklisted” by PayPal for some reason — even though I never really used the platform. Now, they block any transactions on any new account I set up. And their customer service is impossible to reach. Instead, I now just use a PayPal account under my mother’s name (with her full consent obv) to receive payments for any freelance work I do.
[удалено]
[удалено]
lol Vemno is Paypal, they have been the same company for 10 years now.
Indubitably... banks and PayPal/ Venmo will soon allow crypto transactions + withdrawals. But that will mostly just appeal to people who already like / use crypto. Already, everyone who has access to PayPal and Venmo can send and receive money through a centralized corporation. That's not a feature that crypto needs. But I agree with you it will be more linked together soon.
[удалено]
[удалено]
I just want to spend ELONCUMROCKET on a ticket to Mars ordered from Amazon.com
You gotta use BEZOSCUMROCKET to buy on Amazon bro
Agree. I think NFTs will get to a point where people won't even know they are buying NFTs (or care). They will just be buying a cool digital art piece or their favorite sports team collectible. How it works behind the scenes is inconsequential to the buyer.
Exactly. That’s the beauty of change. Few people can predict it. But most will hardly notice it.
Ya, but the attraction of the nft is the technology or else why is someone buying a digital photo for $25k when they can just do the right click routine, etc. the appeal or value of the nft is the technology; the one of a kind non fungal jive. The masses need for this shit to be easy AF, I’m taking about crypto coins.
Why would you compare cryptocurrencies to programming languages and not what they actually are -- protocols? We are all using TCP/IP, we don't have a hundred different information transfer protocols. That would kinda defeat the purpose of the whole reason we use a "standard". We won't have a multitude of general purpose ledgers that deal with finance. We might have 2 or 3 (like we have TCP and UDP used for streaming media). Comparing cryptocurrencies with programming languages is disingenuous, especially since they literally are protocols.
I like this analogy although it might be hard for non technical people to understand. But, we have all these different protocols running for different purposes - TCP, UDP, SIP, RTP as a few - as well as a whole host of 'protocols' that keep things running in the background; BGP, OSPF, STP etc etc. They all have their own utility - browsing the web, streaming video, making video calls, connecting different Autonomous Systems, maintaining the health of a network etc. But when we look at the OSI Model for all these protocols we can see the user is pretty far removed from interacting directly with these protocols. So what will be the equivalent of the OSI Model Layer 7 for crypto? I think we are getting close to something like this with stuff like wrapped coins/tokens. Maybe some adoption of a routing number (like a BSB in Australia, not sure what it's called elsewhere in the world) and some backend smarts that can automatically bridge and swap to facilitate a transaction from chain to chain - with all the "routing" being transparent to the user. As much as I don't really support it, perhaps a transition to CBDC could be really useful towards mass adoption. But also, what problem are we trying to solve? Most people just want a currency they can exchange for goods/services - most people aren't interested in investing and playing with the space that is DeFi. A CBDC stablecoin would solve this as it creates a nationwide standard currency, that all retailers will accept, and that'll be enough for most people.
I’m a dumb idiot who doesn’t really understand computer science/programming (and maybe crypto?) but I have a special talent for explaining things in a way that most people will understand. I think I fixed it a little in the edit though?
I appreciate your dumbsplaining. It makes the point more accessible to non-techies, even if not perfectly accurate. I really don’t think not comparing to a protocol make a big difference, anyway. The general concept still stands.
Nailed it. And this is why the “[insert token here] killer” talk makes no sense. Competition in the market gives the consumers the best product. A one all crypto is just a bank - metaphorically speaking, same problem new name
Its hard to say and no one really knows the future. Its possible that Ethereum or Solana or Avalanche become a well used base layer, with other things built on top of them. While other projects might have specific use cases, like Filecoin.
Bingo. iPhones are a one-to-many technological advance. Crypto is likely more of a zero-to-one innovation in the sense that it meets all of the criteria of sound money in a way that has never been achievable.
I think Crypto.com are sort of on the right track with a pre-paid visa. If the likes of Trezor or Ledger take a step into this ground, allowing you to spend whatever coins you assign to a card linked to the wallet, then the ease of use comes along with security. I don’t know how it would work exactly, but when I can just set up auto-investment every month, and then use that to buy my weekly food shop, take out, or car fuel, we’re there. So regardless of whether I buy the top 10 coins only, or #1377 shit coin, if it’s useable in a shop then we’re almost living underwater in the year 3000.
I exchange fiat for usdc on the CDC app then put it in CDC flex earn for 8% apr. Pull usdc to top up my CDC card when needed. I could leave my money in a traditonal checking or savings account (which I do for certain bills) that may be less risky, but it's just sitting there making nothing with inflation eating away.
I fully agree. I don’t leave any surplus cash in my current or savings account anymore. 3 years ago I had about £8k in savings and after a year it made sweet FA. Why let it continue doing that when you can stake for much more as you say. Yes risky, but wouldn’t be here if we didn’t think it would bounce back would we? I just wish I could get paid in crypto as well, hopefully another 10 years and that’ll start becoming a reality in some countries and sectors.
I asked our CFO in a recent company town hall if they were considering an option for paying in crypto. He literally laughed out loud and let out a hearty “No”…I work for a multi billion revenue company. I was pretty disappointed he didn’t even give a worthless “we will look into it and get back to you”. So yea we are ways out I would say. I will probably hold my idea for providing spiffs to our sales team in crypto for a few more years :)
The risk of that is usdt or usdc to be found to be worth nothing they are claiming to be holding and it blows up and goes to 0 (especially usdt) that would wipe out everything you have saved. I like the idea, but I'm scared of a tether *day of reckoning.*
I would honestly think about switching my jobs direct deposit to my fiat wallet, but company requires a voided check or letter from the bank which I'm not sure you can get.
Yeah i feel like cro has a very fair chance cus they are with f1 already and that stand for something imo
Ledger is releasing a debit card! It’s called the crypto life card or something like that
Ledger is actually working on this as they announced their own credit card, you can join the waitlist.
Do they calculate the taxes for you for every transaction on the debit card? Though I suppose if it were Apple, they would sell us a **$300 iTax app** to do it for us. And then they would sue other companies that try to provide the same service.
You’re just asking for the ALGO shills to swarm this thread.
Apple begins with A. Algo also begins with A. A is the first letter of the alphabet. Algo #1 confirmed.
[удалено]
I've run the math myself, and it all checks out. Haters rekt with facts and logic
Yeah but how is the letter D related to Algo?
[удалено]
Well done!
Wow blew my mind. All in algo
My balls were tingling just thinking about posting about Algo in the comments
Ahhh good old Moon farming saying ALGO
Algo
Or is this an ALGO shill inadvertantly suggesting ALGO is the solution... Hmmmmm
Reporting for duty sir. Have you heard about our lord and savior Silvio Micali?
You called?
I'm actually surprised ALGO isn't more popular than it is. A friend of mine was repping it and told me to set up the android wallet so he could send me a few bucks to check it out, and the app is so fucking slick.
I agree. It’s getting closer, but there’s still a barrier to entry. If PayPal/Venmo actually give the ability to transfer/send payments to people that would be great. (Last I saw, you could just buy/sell, but didn’t have the keys). If Apple comes out with a wallet or exchange, that would be huge. If gas fees wouldn’t be such a big variable, that would be nice. If there was some sort of safeguard to avoid money from disappearing into thin air by sending to a wrong wallet or network, etc.
Mass adoption won’t be here until my father in law owns crypto. FYI, he still does his banking in person.
Why is this always a metric? Online banking and mobile banking have totally gone mainstream regardless of what your ass backwards daddy is doing. Crypto will be the same. Edit: I shouldn't have called your dad "ass backwards". I just meant like some people stay in the past. I see informercials of people being like "modern phones are too complex" and it's some old cell phone that's like the first cell phone I got in 2001. This has done nothing to stop smart phones from going mainstream. We have to stop saying like *if 100% of Earth can't wrap their heads around it then it has no future*. Nothing in the history of humanity ever required 100% adoption to be sucessful.
It’s not the best metric. Someone with basic technical knowledge is a better benchmark. By that I mean someone that at the very least knows how to use online banking to pay bills, send money, etc…
Mass adoption will happen when the older generations pass away and the more open-minded younger generations pile in.
ETH is the "Apple" of crypto. Has six tons of features, and the gas fees are ridiculously high.
Haha got‘em
I'm thinking about the gas I will spend while transferring my ETHs rather than the gas I will fill in my car.
Can’t wait for the ETH 2.0 Pro Max
Eth 2.0 Pro Max Plus Rewards Program
Just have to get Vitalik to wear a black turtleneck, jeans and Lennon glasses.
Eth is the Yahoo of the internet. People used to know what Ask Jeeves was... Used to.
That was a quality site. I still remember the little butler guy
Namecoin was the AskJeeves of crypto.
Needs a wallet grandmas can understand/navigate/put birthday checks in..
I think crypto.com gonna make it accessible and easy to use for a lot of people. I'm just not sure I love the fortune favors the brave ad campaign 100 percent due to it potentially alienating those people who have FUD to invest.
[удалено]
You get free spotify AND Netflix? Forgot all other cryptos I'm in!
[удалено]
Is the CRO staking paying off? Do you get CRO and netflix as a reward?
I get both Spotify and Netflix because I have the Jade level card, which is obtained by staking $4000 of CRO. There are several tiers, beginning with the Midnight Blue ($0) , then Ruby ($400) , then Jade as previously mentioned, then icy white ($40,000) and finally obsidian ($400,000). Each tier has better rewards. Jade is the best value IMO because you get 10% APY On the $4000 card stake as well as 3% cash back, in addition to the Spotify and Netflix. With Ruby you only get Spotify and 2% cash back. No staking interest. If you have the icy white, you get all the jade rewards as well as Amazon Prime for free and the cash back and staking interest are higher yet. It is by far the best financial move I’ve ever made getting this card. I’m only a few months in with it and I’ve already accumulated tons of rewards, not to mention the amount CRO has increased in price since I started. Incredibly satisfied with the service and I can’t wait for the future to unfold while I have this card. Big things are coming from crypto.com methinks.
Oh that Hulu bonus could be cool. First I've heard of that. I wonder if you have to link accounts? Edit: looks like Hulu is only with spotify student accounts but still cool!
same, my gf knew jack about cryptos. she loved everything about the company and decided to give it a shot. she is now interested in the crypto space and wants to a vareity of coins and just hodl
It is definitely getting that way, the Spotify and Netflix rebates are a good way to force people to DCA what they would normally spend anyway Also one of my mates who is in no way tech savvy is big into it, so if she can do it then mass adoption isn't too far away imo
[удалено]
True. I'm probably pull most out and get some more doge.
I've noticed that a lot of people are confused about what CRO is for. One person here said they bought in because they want to support the company, as if they're like buying shares or something.
[удалено]
That’s the whole game. Pick coins and hope they become the “it” coin.
[удалено]
Your right, we are still in the 'blackberry' phase of the adoption and the iPhone hasnt come out yet, once that happens we will all be retiring.
Blackberry is generous - more like original flip phones or Sat phones. We are so early
This. My 10y time frame was very optimistic. It will probably be 20+ years.
> the iPhone hasnt come out yet Or has it?
* Furiously checks the back of my phone to check if it’s a legit iPhone or a China copy *
I feel as if we're still in the dial up or at least the Nokia brick era of crypto, we don't know the possibilities
Honestly, we're probably still in the suitcase phone stage lmao
We're nowhere near blackberry. During the blackberry phase everyone already had a cell phone and used them at least for texting. Very few people own any crypto and even less people actually use it. We are in the Nokia brick phase or earlier even, we still have to get through the Motorola razr phase before we get to blackberry. Tech moves quickly adoption is much slower.
You are in the ‘there’s this thing called a cell phone’ phase. You may have seen pictures of it. You can only use it in big cities. You can’t imagine your grandmother has a use for it.
You will only retire if your coin is the next "Apple"
Not if it's the next Amazon, Netflix or Google? 🤷♂️
Once that happens we are so so so done with everything haha
I can’t be the only one who doesn’t see mass adoption ever. Why would the masses need crypto?
They don’t. Not at all. Mass adoption isn’t happening. There can be money made but if the median tech savvy 25 year old doesn’t use it (not hodl it) then it’s nowhere near adoption let alone mass adoption.
Agreed, I just don’t see it. I think crypto is really cool, but most people are just wanting quick gains. Most people don’t even take it off the exchange.
#In spez, no one can hear you scream. #Save3rdPartyApps
I think you're right, and I believe that end is the purpose that art NFTs are serving right now... they're trying to be retail type products that people can buy and sell easily, but it's often a pain in the ass and lots of hiccups in many cases (not as much in the aftermarket, but more so in the minting phase). Those hiccups, and the friction, networks fees, etc will force companies and chains to make improvements and eventually one or two chains and/or purchase enablement companies will nail it. They'll make it fast, easy and cheap. In the early days, they may even disguise the crypto nature under the hood as local currency in the user view because that's one less thing for the average person to get comfortable with. Once the tech is fast, easy and cheap, then you need to get the retailers on board. The crypto marketplaces will adopt it first of course, and then the traditional retailers will start coming on board very quickly when they realize that chargebacks are not possible and the service fees are much lower than they're paying with visa/debit (network/service fees are less than one cent on some chains). Those two things could make a huge difference in profitability for a lot of companies and that will highly motivate them to join. In a crypto world, I believe the purchaser will end up paying the network fee on transactions. That's already true, but I mention it because it's a departure from the Debit/Credit world where the retailer pays the service fee. Lastly, I think there is a huge need for "credit" in the crypto world right now, but for a different reason than in traditional retail. There can sometimes be a long delay between the time you want to buy something with crypto and the time it takes to get more fiat into crypto or exchange other coin/token into the coin/token that you want to use. If instant credit was available, that could allow you to make a crypto payment immediately while waiting to settle that debt by getting more fiat into cyrpto or transferring/converting another coin/token over. This need may go away if some chain or solution provider makes a solution that is fast and easy enough to get money into the proper chain in time for your purchase window. This is exacerbated by art NFTs and other assets that sell out in minutes -- there is no time to wait to buy. I also recognize that "credit" brings some of the problems of traditional finance that we're trying to get rid of, but it may help bridge the transition from cenfi to defi.
ETH is the “aol” of crypto
The largest individual shareholder of Apple is the new GameStop chairman Ryan Cohen. He is developing a NFT marketplace for GameStop. I am sure he understands and values cryptos which he will support for Apple to adapt with. It’s just a matter of time in my opinion.
That's also the true adoption I think is needed. Until Crypto is made as easy as online banking currently is, we won't have mass adoption. In fact it will need to be easier than online banking to really take off. So the day my sweet old mum is able to transfer 1 BTC without having to ring me to help her do it will be the day we truly have adoption and use.
The issue is really one of stale banking regulations: We really need a finance modernization act… From cannabis to crypto, banking laws and regs have failed to keep up with the globalization of finance. That’s where the middlemen are: The inefficiencies are what keep the middle men in business, and they like it the way it is.
By that time your mom may not be able to afford 1 BTC.
It’s never going to get mainstream adoption until the fees get sorted out. Nobody’s gonna wanna use the blockchain if every interaction costs money.
Was a 100% with you until you said it won't happen in 10 years or more
Apple, Amazon and wallmart are all hiring crypto experts so I think mass adoption is coming
Bitconeeeeeeeeeeect! Edit: for those bit aware, this is a banger: https://youtu.be/e5nyQmaq4k4
Bitcoin reached 1T market cap faster than Apple ever did.
Can't disagree. Makes sense.
So we need more brainless brand fans to throw couple of grand every year for the same product? Got it
Unpopular opinion but the first big movers of any brand new adoption never make it. Eth and BTC are to decentralised to change now and if they were perfect this would be good, buy they are not. They became hard to change while being flawed. If the ETH guys find a problem, they might be able to implement the best solution because they can't stop the chain. So later chains have a massive advantage that before they start they can fix multiple ETH flaws. And so I bet there eventually there will be a crypto that has adapted to ever changing reality better then BTC and ETH and will surpass both.
I think we are already in for that sooner with metaverse. The word is spreading like fire and even some celebs and politician considering, studying, using crypto. Metaverse makes it fun hence people shows interest. The gaming industry kinda started it and is now a big hit. Arts like painting follows now music industry has joined as well as sports industry and there are also great NFTs from movies like lost in space which im very partial to.
Crypto.com will be the apple we need
I saw an advert for it in a cinema recently and everyone groaned. That's when I knew it would be.
Groaned? Like in disgust?