So like so many of you I've joined Steemit to learn and share, and a lot of that is directed at possibly the biggest topic here: bitcoin and altcoins. Now I like most of the population have watched and heard about this phenomenon for some time and only until recently I've done nothing more than listen. This month I have joined the party!!!
Why did it take so long??
Most of you know the trepidation as I'm guessing nearly everyone started at basically the same place. Here are a few thoughts on what needs to happen for this to become mainstream and all you early adopters really, really profit. Apologizes if this is obvious but I don't see it spelled out they way a lot of use our thinking.
There are so many hurdles that are holding back mass adoption and some seem easier to fix than others.
First is just getting access. Buying through an exchange is not as easy as it has to be!!! Who ever thought if you buy something you are advised to quickly move it out of the exchange for safety concerns. How is this even a thing? Get that television out of Best Buy quickly else that guy over there is going to take it from you! It will take a big improvement in the step before we will see wider adoption.
Wallets : Again the fact you should not leave your new shiny coins ( they are shiny right? ) in the place you purchase them is mind blowing to many. The fact you could possibly need multiple wallets to own all the altcoins you may want to invest is again more overhead that is not inviting to anyone. What do you mean I need multiple wallets to hold different coins? And I have to hide my private key else lose everything in my wallet? Why do I need a key to a wallet ? This is not a bank we are not using safety deposit boxes.....or are we ? Whoever wins the one wallet don't worry about that key war, will get all the coins!
Scams or is that a Great Deals - so everyone knows be careful of bad guys but with all these people offering free advice and all these coins coming out seemingly everyday who is a new investor to believe? ?? I'd actually love some advice on that because you want to see the definition of drinking from a firehouse, try learning about investing in cryptocurrency via the Internet! Some of you nice young men and women offering free advice - are you really nice men and women? Hmm
Who names this stuff ? I mean really who comes up with the names of these coins and the exchange sites? Most of the names are so similar it is very hard to tell them apart. The name of product is one name and the name of the coin or token is another. Some are similar some are impossible to related the two together. Again learning a new language and all the words sound the same it makes it scary and hard.
And finally if I do my research and have a good feeling I'd like to invest in the next great coin now what ?
Well first you need to find an exchange that sells it, preferably that takes business from your country of residence else you feel like your are breaking some law ( VPN or not ). Then you have to hope they take your currency ...what I have to buy bitcoin at another exchange first and come back once I have it ( maybe a week from now !? A WEEK! ) ? I didn't come here to buy bitcoin! Oh and you want me to create a new account and new wallet and you need to verify my identification and you .....
..............................ahhh just forget it!
Anyway I'd love some good solid advice, some good sources of information or just some witty comments. This is complex stuff but it can also be simplified and once it is people won't be so afraid and your wallet will grow and grow and grow.
Cheers!