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by heromal 1556 days ago
> So, all I have been able to gather from all of this is that YC/HN remains incredibly ignorant of what Bitcoin and crypto avails, and will draw conclusions based more on that ignorance then take the time to actually look into what is actually taking place.

And yet, you people think crypto is seriously going to "catch on" for the average person? I'm sorry, but "you need a certain IQ to understand Rick and M- I mean crypto!" isn't going to magically make crypto useful at all. The fact that crypto people have to go into long tirades full of technical jargon just to answer the question "Why?" tells the whole story.

1 comments

The average user doesn't need to 'get it,' they need to be incentivized to use it, believe me I had a startup that targeted a demographic that you'd never suspect would ever use it, that is until they had to because they were unable to hold a bank account and were subject to financial censorship and had thier accounts frozen or seized: the average age of said demographic was in the mid 60s.

Personally speaking, I think Bitcoin won't get 'mass adoption' in the developed World until they are using it without actually realizing: think a GUI and UX similar to that of online banking, and unfortunately, custodial services and wallets.

The idealist crypto-nerd in me wished everyone would be running their own mainchain and LN node and would be securing their funds on hardware wallets, and only communicated over End to End or PgP encrypted platforms with keys they swapped in person: but after over 10 years in this space I have come to realize that the average person will gravitate towards convince in orders of magnitude much more than security.

It's a harsh reality that I have long accepted when it comes to the 'average user' and it helps explain the prevalence of why the leaks, hacks and data breaches using these leaky services continues.

Personally speaking, this isn't 2011, you don't need to learn how to use Linux to download the blockchain and synch up to the network using QT and create wallets in the terminal, thus the IQ factor isn't relevant anymore... all you need is a relatively modern smart phone and an internet connection (and when that is down a Blockstream satellite or access to Starlink as has been proven to be the case in Tonga and Ukraine this year) to plug into this inclusive financial system: it's very telling that 3G/4G availability is more prevalent in the developed World than running water is.