| Nano is a great example against your point as well. Its design flaw is the ORV system requiring someone who just wants the elevator pitch and their life to be wildly more efficient via using digital currency that's faster, safer, cheaper than their debit card having to educate themselves on what-even-is an ORV, how does the voting work, how do you know what a good representative is, and so on. And, as with a lot of the cryptos working on different vectors of what efficiency means, it's also its strength. It's, you know, how it's fast. So yes, o boy, if people just adopted it, informed themselves about it, and used it in volume "phase 2" could commence and as with crypto it comes in the form of major traffic revealing scalability necessities. Unfortunately who is going to do that to see in X years what the issues are, when there are the grandfather cryptos that do what they do and work how they work (sidestepping the "how they were meant to work/layer2 protocols don't count/cup of coffee as priority or no" dramatics). And so its largest general population adoption, friction creating flaw is that people do not want to be their own bank. This is absolutely where the smugness from the tech sector comes from regarding the unwashed masses clicking excel macros from email scammers and uninformed people not having a functioning BS-detector and opting in to be the greater fool because they know there is bound to be many more greater fools than themselves. The other bit that was omitted in your "we fixate on bitcoin and nfts and failures and dismiss the advancements smugly" is how many more declared-better-than cryptos have there been that didn't even make it to the scalability discussion that mature cryptos have and have modified and built systems around the transaction issues? Case in point, you say "genuinely fair distribution" but that's a massive *citation needed. Back to genpop, they will never think it is fair if they didn't know about it and someone they consider their peer was able to obtain it with relatively less work or cost than they'd have to right now. One of the key features of bitcoin (and maybe a small handful others) were that there was no ICO, and no opportunity to be unfair past you were either there and aware or you weren't. Now that more people are aware of the space in general, you cannot simply flip the switch without bad actors doing their thing. That era will never happen again, it was those people (or mmm intel agencies) at the forefront of dropping the tech in the wild interacting with it. That said, there-and-aware with those early cryptos had a relatively massive near decade-long runway. I honestly would not know where to begin with assessing all cryptos around in 2020 to form an opinion on viability for 2030. Those good ol' days had what, 6-12 to sort out and work on? Between 2018 and 2022 there are around 1,000 dead cryptos alone. I don't have the time to parse them all out and barely have the knowledge to assert that one that is dead should not be and has something worth pursuing. I don't want my jadedness of being in the space for 15+ years at this point to lead me by the nose, but my bias would definitely be "if it was worth pursuing, one of the big ones' communities would pursue it as it means more value and a better product" (conspiracies about new world order digi-currency agenda aside). Case in point, NFTs. Those in the know understand the potential value of an NFT and how they're not just "goofy internet jpgs" and have built in versions of systems accomodating them, or, you know, let parallel tech be the guinea pig. I can see use cases for them regarding licensing, but I can also see very little incentive for any entity to lose their centralized power to accomodate a tech that directly usurps it over time. |
It doesn't though. It requires installing a wallet app.
> And so its largest general population adoption, friction creating flaw is that people do not want to be their own bank
Maybe you didn't see that story here yesterday about banks simply closing people's accounts for no reason. Maybe you missed Mastercard and Visa blocking Wikileaks and OnlyFans payments. Maybe you missed the bank bailouts, and the housing crisis, and the Epstein funding, and the Panama papers, etc.
If you've ever seen a bank run, you know that there are times when people absolutely do want to be their own bank.
> my bias would definitely be "if it was worth pursuing, one of the big ones' communities would pursue it as it means more value and a better product"
That's not how a status quo works. When you talk about digital cash, you're stepping on some very sensitive and powerful toes, conspiracy or no.
> I can also see very little incentive for any entity to lose their centralized power to accomodate a tech that directly usurps it over time.
Well now you've hit the nail on the head. Fortunately, accommodation might not be a requirement to success.