Stop complaining about the usability of cryptocurrencies, it’s the lack of usability that will make you a generational fortune.
Why?
Because better usability and liquidity will tempt you to part with your crypto, which will ultimately lead to huge disappointment.
Right now you are WAY ahead of the curve if you own, or are just starting to buy cryptocurrencies. You are at the very beginning of a financial revolution and the global population at large are choosing to put their heads in the sand.
So why then would you want to consider giving your crypto away?
Who the fuck cares if you can’t buy pizzas and coffees with crypto? Give Starbucks and Dominoes your shitty worthless fiat coins and notes instead, that’s all they deserve!
DO NOT give them a currency that could potentially (and most probably) be worth 1000 times it’s value in the next 5 years.
Let me paint a better picture of the point that I am trying to get across and use a tried and tested example of where this has happened before, the stock market.
Yes, the stock market used to be extremely illiquid and suffered with dreadful usability issues. Don’t believe me?
Ask Grandpa how he bought his first stock, it would have looked something like this…..
“Hey Grandpa, how did you buy your fist stock?”
“Oh, just like everybody else did in those days.
I researched the daily and weekly papers for companies I thought I might like to invest in. It took months of reading and following the previous days closing price which was printed in tiny font on a huge double page spread in the newspaper. Once I decided what I thought looked like a nice company I walked into town.
First I had to go to the bank and wait at the desk whilst they processed my withdrawal request for my money. Then I walked over to the town brokerage house and spoke to some awful broker chap who looked and talked a little funny.
I told him I wanted to place an order and buy my first stock. He smiled and looked at me strangely, then quoted me a price that was quite different from the previous day's close that I had seen in the newspaper. I asked him about this and he explained that the price had moved a little on the open market during the mornings trading.
It still seemed a little odd to me, but it had taken me 30 minutes to walk there, 25 minutes in the bank and I had to get to an important business meeting, plus I really wanted this one companies stock, I had researched it for months! So I agreed to the price, left my cash with him and went onto my meeting. A few weeks later a letter arrived at home to say that my certificate had arrived at the brokerage house and that I could come and collect it.
I didn’t get the letter straight away because I had been working out of town for a week. I think I finally collected my stock certificate about a month after I had placed the order, with the added dread of another 30 minute walk back into town to see that gruesome fellow again.
Once I had it in my hands I put the certificate in a safety deposit box.”
“Er, Grandpa, what stock was it?”
“IBM, I bought it in 1947.”
“And when did you sell it?”
“I didn’t, it’s still in the safety deposit box.”
“Whaaaaaaaat!!!”
()
You see, Gramps wouldn’t have sold his shares, because it would have been a total pain in the balls to do so. He would have had to have reversed the whole situation outlined above again and again. Retrieve his certificates from the safety deposit box, walk back to a brokerage house, re-engage with the dodgey broker, agree a shit price to sell his certificates, wait to get his cash back, take it to the bank and wait in line to deposit it again.
Imagine doing that 50 times a month like we do nowadays with our online brokerage accounts.
The reason there are stories of people becoming millionaires after finding Gramp’s old stock certificates whilst cleaning out the attic is because the stock market had terrible usability and liquidity issues.
So here we are my crypto friends, at the foot of a ladder that has no top rung in sight.
Buy your crypto of choice, lock it up on a Trezor or similar and stash it in a safety deposit box.
Do not give it to anybody else, they don’t deserve it.
Embrace the lack of usability whilst we still have it and refrain yourselves from trading your crypto too, you will end up driving yourself crazy with over information and second guessing every decision you make.
I worked in finance for 18 years, I have seen money come and go in an instant, there are very few moments in history where you find yourself in a position we find ourselves in today with crypto.
I hope this post helped you look at a prevailing negative narrative about crypto in a different light.
Who knows, perhaps one day you might send me a thank you note when you find that old Trezor in the back of your safety deposit box ;)
Dan
www.princesoffthegrid.weebly.com
@Princey1976 on the Twitters