Crypto Adoption is Further Away Than You Think | The SteemLeo Show #6

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In today's episode, I cover the idea of crypto adoption and how it may be a little further away than you think. In order for mass adoption to happen, we need to have better systems in place. Topics covered:

  • The price of crypto is irrelevant to the development of crypto… in 2017, we saw exactly what happens when the price of crypto outpaces the development of crypto
  • We’re still missing key elements for mass adoption:
  • Infrastructure
  • Scaling
  • User interfaces & education around crypto
  • The pace of adoption is limited by the background development surrounding these areas
  • It gets built in the bear market.. the money is distracting.. the speculation is distracting

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Comments 10

You are right that is the best time to be in crypto and Bitcoin is already far positioned to dominate this market for a long time.

11.09.2019 02:04

I love these podcasts. You NAILED my thoughts in this podcast too. I do learn a lot so good work!

11.09.2019 02:08

Amazing friends

11.09.2019 04:12

Adoption will also take longer because of crypto tribalism we’re not working together enough combining ideas and programs and audiences this is where central planning does have a one up on community

They have select few driving it forward for the masses! The curve is slow but I do think with the world economy at odds it could be a boost but I agree scalability, user experience and knowledge is still big barriers

I just see what’s going on in Venezuela as an example of how quickly crypto’s like Dash are being intergrated and people are learning to use it remarkably quickly!

Amazing what can happen in a hyperinflation economy

11.09.2019 05:57

So... I can completely agree that we are a long way off from the masses adopting crypto. I do software support for one of the largest tech companies in the world and talk to the “masses” about their tech daily... When majority of people still don’t know how to simply turn a device off and on properly, can’t properly send email, or organize their files... then how can we expect them to deal with the complications of crypto... Not to mention there are still people writing checks!!! I love this space, but I am also a bit of a nerd so I get it, but the masses won’t for quite some time. But we are still in the infancy stages and we still have ALLOT to work on. So my thought is that people need to chill out and be more patient, the tech is here, just needs to be perfected. But then there starts a while other issue with society, nobody has patience anymore... I find that when I sit back and let it happen, it usually does in its own timing. And if you are complaining about the tech not doing this or that, or it’s not good enough, then I ask you, what are you doing to contribute and help?

11.09.2019 11:39

People are expecting millions in the next couple of years... meanwhile I'm looking into 5-10 years in the future, we aren't even near adoption, when it happens, and it will, the price's atm are going to look like a bargain... Crypto games, STOs, freedom of speech, financial freedom and interest are going to make this market explode like we have never seen before, the internet will look small when compared to crypto imo...

Ease of use is def something that we need to improve, just on STEEM we are starting to see so many tokens that people get confused to what to buy or what to sell what to hodl, etc...etc... and most people use their masterkeys instead of their posting or active keys, and most don't even use keychain, we still have a long long way to go, but I'm sure that when it happens we will all be drinking martinis on a beach somewhere paid with SteemLeo 😏

11.09.2019 13:24
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11.09.2019 14:13

I thought your points were excellent and hit the nail on the head. However, i find much issue in a space with such brilliant and intelligent people that seemingly look at approaches to solving cryptocurrency issues in ways for me that defy logic.

For instance if we know the user interfaces and the massive amount of learning necessary hinders end users. Then why do we continually create user interfaces and algoritims that don't fit their needs? Wouldn't it just be easier to copy interfaces proven to work? For instance if i'm a social media site. I don't need to guess if facebook, reddit or instagram works.. We have years of data and trillions in value just about of these projects. Why would we need to do anything different.

You just do a similar interface and integrate your crypto into it. You also spoke about 2017. The great speculative nature of it and this enticement that this is the opportunity of someone to get rich. Well alot of that was based on the deflationary quality of bitcoin etc., So if that's the idea this scarcity and store of value and so the tokenomics suggest that's what drove the price up.

Then why aren't there more fine tuned products in crypto like how we watched projects like bomb token go from nothing and explode just based on burning tokens and deflation? Can't someone just fine tune that with an actual use case? I spent this afternoon arguing over on palnet with people about the data of burning tokens. This is concrete data we shouldn't have to argue about records full of data of what happens with projects that use these type deflation mechanisms. Do i fully understand why they work? No i don't. Maybe it's based on a similar idea like we got in 2017. What i do know is we shouldn't argue against mountains of data. This happens quite a bit in this space and we ignore data alot. Which is strange considering that we're suppose to be data and algorithim driven people .then we guess about what we should do? lol.

So i don't understand why we don't just follow patterns and data that work. What i think is also part of the problem in crypto. Many of the people deeply involved as you mentioned. Are basically tech geeks which doesn't translate well into normal day end users.

So now i'm leading to we need more minds outside of just developers with alot of stake and control. We need people who have fresh business ideas, marketing ideas that can work in harmony with a variety of departments. Not just have people in the space that are more interested in algorithims and math than human psychology and business. It won't work and hasn't worked. This type confusion only serves to slow adoption of crypto not help it. So i 100% agree with your points but we aren't looking at data. We trying to design and make things better to no end. We need to monitor data that works for people and what they want to use.

15.09.2019 04:16

I think BTC is getting closer and closer to mass adoption. The alts are a little further away. But it is a great time to educate and fill your bags.

16.09.2019 03:15