Before Crypto currency can own the future, it’s going to have make friends with stable technology. Yep, I said it. Sure, it’s cool and all that the crypto industry has created over $60 billion in new wealth, out of NOTHING, but if you can’t access it half the time, what’s the use?
I do realize that half of the problem is that Crypto world has been, up until this time, the domain of more technically adapt personages than myself, who eat code for breakfast and don’t give a binary rat’s ass about “user interfaces” and creating an “intuitive user experience”. I get that, but when it’s more difficult to exchange coins, than it apparently is to onboard a United States President.
(just kidding, that particular protocol is apparently non-existent) it’s a bit ridiculous.
If we want the world to come and join us, taking the balance of power away from institutions like the Federal Reserve bank, we’ve got a very narrow window of time. Right now, when so many made millions off of Bitcoin is a unique opportunity, but there are issues.
Let’s start with access. How hard is it to keep a wallet accessible, or fix it when it goes down? “Monetary challenges” what does that mean, Poloniex, are you reinvesting my coins, taking the profits and leaving me out of it? Huh? And in a world where instant gratification is the goal, we’ve got to do better than a 48 hour turnaround on these completely useless support replies that remind us of the clearly stated information, the wallet is “temporarily unavailable” yeah, I get that.
But for how long?
Then there’s the panic factor. A couple of weeks ago, an exchange goes down and causes a mass sell off of bitcoin, plunging the price. Was this intentional? Or just a glitch? Either way, if this had happened after a worldwide acceptance of bitcoin, it could have sparked a war! Seriously, poloniex, Coinbase, you guys get it together!
I know, it’s easy for me to say, after all, I need special software to help me post to steemit, my tech is so weak, but look, if gargantuan corporations filled with greedy idiots like Bank of America, can keep their ATM network running 99% of the time, can’t we do at least as well? Seriously!
Then, there’s the freaking lag. I get it, we have to get each transaction verified, but seriously, up to a day? We need more Oompa Loompas in there getting this stuff done, right away! Come on, Wonka, what’s the hold up? Send another boatload on over, let’s get this thing rolling.
Scaling up to a global financial system at this stage would be a disaster. But, what is the solution, seriously? From the Wall Street journal experts perspective, it’s about lack of regulation. Seriously? Were you here for the housing bubble? Yeah, how’d that go?
Right.
In my mind the worst thing that could possibly happen to crypto would be centralized banks getting their fat tentacles around any part of it and squeezing the life out of it. They’ll kill it, if they can, because they can’t join in, it’s decentralized y’all, and that doesn’t fit into World Domination Protocols!
And this is why it’s seriously critical we get our crap together and soon. If we don’t get enough users on board before the IRS takes over, it will be too late. Once it’s wide spread enough to be supporting millions of house payments and funding college educations, we have some leverage, but right now, in its infancy, letting them in would be a huge mistake, but we have to be careful!
Here’s how it happens: first, a new financial instrument or platform finds success. Then it gains acceptance. Then the sh*t hits the fan when the tech breaks down, or someone gets robbed, or any number of other things keep people from the “money” they were making fun of last night at dinner, but now can’t live without and all hell breaks loose.
They go to the press, with their “story” then someone says, “We should do something!” and someone at NSA headquarters says, “What’s that Lassie? Timmy’s down the well?” er uh, “Bitcoin did what?” then they pick up the phone and get the chairman of the fed on the line, and he calls congress and before you know it, we need a license to carry a “bitcoin wallet” which isn’t even a physical thing, but these idiots are too stupid to even figure that out!
So, Poloniex, for the love of Oompa Loompas! Get the steem wallets fixed, please? Before someone has a conniption that makes it into the news and we’re all forced to ask permission before cashing out our next payout!