Re:US’ First Crypto Bank Reveals Date of Commencement
by G3rn0ti on Monday June 14, 2021 @01:01PM
(#27505067)
Wallets got better and are more standardized (private seed generation according to BIP-39, for example).
DeFi DApps have happened in the past four years allowing you to easily invest and spent your cryptos from your browser.
Stable coins and lending protocols have happened enabling you to earn interest on your dollars without exposing yourself to Bitcoin‘s volatility.
Decentralized exchanges happened allowing you to swap between coins without the need for a centralized exchange in that case.
Major wallets integrate many of these features allowing you to manage cryptos from your smartphone.
Progress happened you’re just not looking for it.
Re:US’ First Crypto Bank Reveals Date of Commencement
by randomopining on Monday June 14, 2021 @12:30PM
(#27504642)
Yeah I agree to a point. I think the narrative of "You control YOUR money!" is enticing to a good amount of people. Overall for the average person with low liquid assets, having it in a bank makes way more sense for fraud protection etc.
I think the average people will use Paypal/Venmo as a novelty and also to get the volatile investment gains. Then the individualists will hold theirs cold storage.
This was also the refrain in 2017. Billions were raised to make it happen.
Four years later, what does the cryptocurrency industry have to show? Mass market adoption seems as unlikely as ever.
QR codes don't solve anything when the basic design is so user-hostile — for the end user, crypto is unsafe money that you can lose at any time even if you think you're taking precautions. The only reasonable solutions available are centralized, and at that point you're competing against Apple, Google, Visa, etc.