Why Aren't People Flocking To Cryptocurrency?
This is a difficult question to answer. However, one thing I did learn over the years is the pace of technology far exceeds the embracing of it by humans.
In this video I discuss how the push towards cryptocurrency could be mirroring other technological innovations and has to go through the same process.
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Every time a new technology has been introduced and succeeded, there has been a tipping point when the adoption comes from a minority to a massive usage due to the introduction of a minor change. As more and more projects are created and usability gets better as for instance the new @dapplr dApp just released for Hive, the tipping point for crypto gets closer and closer. This week Bitcoin meets banking in the US also brings us closer to the tipping point.
There is an excellent book from Malcolm Gladwell talking about this concept.
You are right. The Dapplr app could be a very good addition to Hive. It seems like the best mobile app to date and most mirrors what people are accustomed to with other mobile apps like Instagram.
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Having a very poor Network connection so, I can't watch at the moment.
To add, I think that with time and proper education, many will flock to cryptocurrency
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At least part of the answer @taskmaster4450 is our human nature tendency to always look for the "Easy Button" in life. The use of crypto is still quite complex for most people. Unless and until a proper motivation is provided to overcome that basic tendency, people tend to remain "stuck" there ...
Those of us who have been "in here" for awhile, can forget how steep that initial learning curve was. Just talking to a family member yesterday, she reminded me ... 😉
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It is a very steep learning curve. No doubt about it. Perhaps that is why I feel something like Dapplr could be a great entryway...it operates in a way people are accustomed.
Of course, it is also why I feel gaming is likely the breakthrough. Those tend to be a bit more technically advanced which could reduce the learning curve.
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Given all the activity, in the "cryptosphere," you and I can continue to hope it is only a matter of time, before the needed breakthrough(s) come to reach "critical mass."
Then, we'll be thankful we overcame the learning curve, when the price of entry was still relatively inexpensive.
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People want convenience above all else.
Summary:
In this video, the speaker discusses the slow adoption rate of cryptocurrencies and blockchain technology. He compares the current state of the industry to historical technological advancements like the internet and smartphones. The speaker believes that the complexity of cryptocurrency, lack of user-friendly decentralized applications, and the paradigm shift it represents hinder widespread adoption. Despite the challenges, he remains optimistic about the future of technology, emphasizing that it is a long-term process requiring patience and continuous development.
Detailed Article:
The video delves into the reasons behind the slow adoption of cryptocurrencies and blockchain technology, emphasizing the human tendency to resist technological advancements despite the potential benefits they offer. The speaker draws parallels between the evolution of the internet and smartphones in comparison to the current state of cryptocurrency and blockchain. He highlights the rapid adoption of smartphones due to their convergence of existing technologies like mobile phones, the internet, and personal computing, making it easier for people to embrace the change.
Additionally, the speaker discusses the challenges faced by newcomers in understanding and using cryptocurrencies, citing issues such as the concept of value and the lack of user-friendly decentralized applications. He explains that the decentralized world is still in its early stages of development, with decentralized applications lagging behind their centralized counterparts, which have had decades to mature. The speaker mentions projects like Hive as examples of decentralized applications that have been around for a few years but are still in the early stages of progress compared to the internet's advancement over a similar timeframe.
The speaker acknowledges the importance of educating the public about the benefits and implications of cryptocurrencies, especially for older individuals or those without a technical background. He emphasizes the need for a paradigm shift in understanding the significance of decentralized technologies, highlighting the differences in security and control compared to traditional centralized systems. The discussion revolves around the slow growth phase ('S curve') of cryptocurrency adoption, with the speaker expressing hope for a future tipping point where adoption accelerates.
The video concludes with a call to action for individuals within the cryptocurrency community to contribute to the growth of the industry beyond monetary gains. The speaker encourages developers to continue improving applications, content creators to produce engaging material, and gamers to provide feedback for game development. By emphasizing a collective effort towards progress and innovation, the speaker underscores the transformative potential of cryptocurrencies and blockchain technology.
In summary, the video provides a comprehensive analysis of the challenges and opportunities in the cryptocurrency and blockchain space, urging viewers to consider the broader impacts and motivations driving their involvement in the industry.