I just saw this topic "What problems in Bitcoin's infrastructure prevent it from being adopted more easily?". All the answers were really interesting, mentioning the lack of regulation, volatility, ignorance, etc.

My question is: How can these problems be solved? And is it ever possible, what do you think?

In my opinion, regulation, practicality, and stability are definitely required for the mass adoption of crypto as a payment method/currency.
What are your opinions on this?

I don't know if it's essential for the development of a country or not... Depends on how you use it, I think crypto can be an amazing factor to foster development in especially developing countries. If it's seen as a currency, rather than an investment, for instance. It would make the money exchange/transfer so much easier, stimulating the economy. Also, the anonymity and privacy can actually change people's lives.

Isn't the "real" untraceable crime money cash? For decades, cash was used for crime and money laundering and every illegal activity. I agree that crypto is not the reason for the unwillingness of governments towards crypto. It is the governments' need to control and know every detail about financial transactions. Crypto is threatening this, so they don't want it. Which makes it hard to create borderless, digital cash with fair remittances and easy use.

I also think bitcoin is more like a high-risk asset right now. Of course it can be used for transactions between individuals, but it doesn't make a lot of sense because of the high volatility. You would want your currency's value to stay the same, more or less. Bitcoin doesn't have that. However, the technology behind it is remarkable, so I'm pretty sure some cryptocurrency with a more stable value would do wonders as a currency.

I'm not sure if it can be described as a social movement, but it definitely can be used to amplify social movements. Especially with the safety, security, anonymity and decentralised fashion of blockchain, crypto will be the way to expand social movements in my opinion.

There's this system called M-Pesa in some African regions, where you can send money through SMS messaging, but I don't know if that's possible for crypto.

I know some startups are working to make use of blockchain to help the disadvantaged parts of the world, lowering remittances, making transfers easy, quick and borderless. MAMA App is a prototype example. We'll see how&when, but I feel like this is what crypto made for.

I just saw this Danish CEO give this interview and he has some really interesting points, so I have translated them to English for you: 

What do banks actually do with our money ? 

If we have USD 100 in the bank, there is no USD 100 with our name on it, they do not exist 1 to 1 like, for example, cash does. When you put the same USD 100 in the bank, they take USD 10 and put them in the central bank and they spend USD 90 on lending to others who need a loan. The people then pay interest on their loans and the bank makes some money on their bank operations.

If a financial crisis was about to hit us and everyone wanted to withdraw their money out of an ATM, then there would be bank runs and crisis. Our money is not ours if we keep them in banks, if it's not a full-reserve bank.


For example, a couple of years ago, a crisis happened in my country, and everyone ran to the ATMs to get cash. Banks were so close to bankruptcy in a matter of  couple of hours.

Every ten years, there is a big banking crisis, and after it is solved by regulators and it harms a lot of people, we still continue to pay for banks and their risk-taking with our money. Where we keep our own money and where we can borrow some money when needed doesn't have to be the same place necessarily.

I think crypto or a full-reserve digital banking system would be a revolutionary solution for this, and the popularity of crypto comes from the distrust in the system as a whole.
What do you think about this? Is this traditional banking system necessary for order, or would we all be better off with a decentralised digital system?

I just heard of a workshop about crowdfunding and "how to make people throw money at you", and especially the case study is so interesting! maybe it can help and give some ideas.
leaving the linkedin post here, hope it's okay: https://www.linkedin.com/posts/creative-business-network_crowdfunding-workshop-accesstofinance-activity-6843836932766629888-ELdi

I think that there can't be an ideal have-it-all situation in crypto. You kind of have to choose between complete anonymity&privacy, or complete security&mass adoption. Mass adoption without KYC regulations or taxation doesn't seem possible for now, and these things automatically negate the complete anonymity and decentralisation, two of the core reasons why most people choose crypto.

I totally agree that stablecoins as a concept are one of the safest options in terms of volatility, but by definition, they have to be backed by something: a fiat currency, assets, other coins, something.
And so far, Tether failed to report evidence of 1:1 backing. Just in May, it was revealed that they were backed 2-3% only. In the latest report, they claim that they are backed up to 90%, but who can believe that?
Just an opinion...