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Vitalik on Twitter: "I think there's too much emphasis on BTC/ETH/whatever ETFs, and not enough emphasis on making it easier for people to buy $5 to $100 in cryptocurrency via cards at corner stores." Personally, I think both are necessary & we need to make crypto more accessible. What do you think?
Buying is a problem but selling also, it's hard to spend crypto, ok you can find some vendor or getting a gift card but this is not enough (and i will not even speak about dapps), it's a tech problem.
The best could be a stablecoin and fast transactions, ethereum have DAI who seems to work well as a stablecoin but there is no fast payments yet.
For most people right now, buying crypto is for selling it later for more fiat that's all.
People keep talking about massive adoption with the average consumer buying/selling, but does anyone remember what happened with BTC and ETH congestion and the number of unconfirmed transactions they encountered? Almost seems like we are discussing putting the wagon in front of the horse when we discuss adoption before solving scalability issues.
It's been 7 months since then and where is the solution to increase scalability? I know lightning network is making progress but that does not address the current issue with on-chain transactions that we will inevitably have to deal with again. I have my opinions on what we should do, but I'm not even a dev and have only been in this space for a year so I try not to spout out too much nonsense lol.
LN is actually pretty much a technological abortion. It won't do much for BTC, and even if it does it's literally years from being anything usable.
ETH is working on scaling, with sharding now the way that's deemed best, and I have high hopes there. Unclogging ETH will do great things for solutions built on it, but currently in limbo due to high gas and congestion.
In relation to ETH: see OMG and Plasma developments.... that's the real scaling solution for ETH.
Sure but who cares. The world is FIAT right now and trying to go from 0 to 100 instantly is the worst idea. Being able to pay with crypto is the first huge step in this new movement. As soon as cryptos get more stable and new coins emerge that focus more on stability, the next steps will come in. But the world will not stop using FIAT shortterm, that will take ages. I still am glad that crypto is takeing away jobs for our banks. Those guys have earned too much for the past few centuries, it's only time to replace those guys, that always lived only on high fees and not by providing real economical value, with something other than a human. Banks won't die within the next 100 years, but their responsibility and importance will surely get severely reduced.
Lol bankers won’t be loosing their jobs anytime soon guy. Also you realize that bankers mostly manage investments. And they donit in hundreds of currencies. And even trading currencies is one of their investment strategies. Crypto is just another tool bankers will use to make money. If it becomes less volatile banks will start trading in it. And many VC firms already took large positions and made a killing. Especially in bitcoin. It’s cool you like crypto but don’t delude yourself into thinking you’re going to change the world financial system in any way.
Twitter is an absolute worthless platform for having conversations. Why do so many still use it? Why not just use reddit and set up a personal subreddit?
Vitalik is right most of times... So I think he's probably right this time too...
Vitalk for President
Who wants to buy $5 of bitcoin or ethereum when the transfer fee is a huge percentage of that $5?