Crypto’s biggest problem isn’t regulation or adoption says Suhail Kakar

[IceLincoln]

Do you agree with Suhail?
Yes millions of people don’t know shit about bitcoin and there are those  who know a little but are not yet investing.
Someone else said “The Tech is here but what’s missing is simplicity and real world usability. Time to stop chanting “Mass Adoption” and start building for actual people.

In essence they’re suggesting crypto platforms aren’t user friendly.
To an extent there’s a bit truth in what they’re saying, looking at the world population and the percentage in bitcoin there’s a huge gap in accessibility and usability.
Maybe we should listen to them and work on making bitcoin more user friendly and ways to educate the normal guy and get them more interested in bitcoin. If more people can own a fraction of bitcoin it’ll be better for the community.
What do you think?….. What’s your take on the matter

[coolcoinz]

IMO the problem for normies is no integration with banks.

It's not that bitcoin is hard to use or difficult to understand. Apps like blue wallet are super simple. You unlock it with a fingerprint, press send, you scan the code and it's done. It's literally as easy as swiping a card and shows you the value of your BTC in USD in real time every time you open the wallet, so you don't even have to look at the amount of Sats you're sending. The problem is that you need to get bitcoin first. If I tell a newbie, would you like to pay with bitcoin? The first question will be, how can I get it and then we go into:
-So, you have to make an account on an exchange and then you have to do KYC and it can take days to verify your account and then you send them money from your bank, but note that some banks block transactions to crypto exchanges, and then you have to send bitcoin back to your wallet, but make sure to verify the address and write down a seed first... And then he's completely lost and says -fuck it I'll stick to fiat.

[Ivystar5]

Personally bitcoins biggest problem isn't this shit his talking about, it's the fact that those who already have the ends meet will always have the ends meet!

To buttress the biggest financial players will always be the biggest even though bitcoin has offered the normies the opportunity to evolve from theiir current financial status, bitcoin is falling into the hands of those who are financiay manipulators.

Even though is correct in what he's saying yet it's not bitcoins biggest problem, I think that bitcoin is not even for the normal guy, it's for those who are tired of the fiat system or how the centralised system is handled they can now opt for the alternative currency, since bitcoin is not in competition with fiat but an alternative to those who seek freedom.

[kotajikikox]

So what is the solution? Dumb crypto down? Lol.

Is it our problem that normies do not want to use their brain and study crypto. No one was born in the world that already knows about crypto. It is learned. I also had to learn about crypto and there are a lot of things I know now that I didn't before. You do not need to understand complicated things in order to use crypto. Just have the willingness to learn.

[BitGoba]

Do you agree with Suhail?
Yes millions of people don’t know shit about bitcoin and there are those  who know a little but are not yet investing.
Someone else said “The Tech is here but what’s missing is simplicity and real world usability. Time to stop chanting “Mass Adoption” and start building for actual people.

In essence they’re suggesting crypto platforms aren’t user friendly.
To an extent there’s a bit truth in what they’re saying, looking at the world population and the percentage in bitcoin there’s a huge gap in accessibility and usability.
Maybe we should listen to them and work on making bitcoin more user friendly and ways to educate the normal guy and get them more interested in bitcoin. If more people can own a fraction of bitcoin it’ll be better for the community.
What do you think?….. What’s your take on the matter

When you truly understand Bitcoin deeply, you realize that its adoption is not optional.
I came to this understanding by reading books and watching podcasts with economists and experts like Saifedean Ammous.his isn’t like deciding whether to buy an iPhone  which has no real consequences for your future.
Bitcoin is more like gunpowder if you don’t adopt gunpowder and keep fighting with arrows and swords, you will be defeated.
If you don’t adopt Bitcoin, you will stay poor.

Watch this video  in just a few minutes, Saifedean Ammous explains it all very clearly.

https://www.youtube.com/watch?v=SZmU6qyWYlo

[mindrust]

I didn’t know crypto had a problem. Maybe he is trying to create one? It is a weird thing to say when btc is at its ATH. Everyone is partying, ordering their lambos and doing some possibly illegal drugs and then this fudster comes over and says: Listen, crypto has a problem.

Will you just fuck off for fucks sake?

Hey, take this guy out, he is going to poop all over us.

If average Joes don’t adapt and smarten up, they will disappear just like how dinosaurs disappeared centuries ago.

Survival of the fittest and smartest. Only way to move forward.

[lovesmayfamilis]

I didn’t know crypto had a problem. Maybe he is trying to create one? It is a weird thing to say when btc is at its ATH. Everyone is partying, ordering their lambos and doing some possibly illegal drugs and then this fudster comes over and says: Listen, crypto has a problem.

Will you just fuck off for fucks sake?

Hey, take this guy out, he is going to poop all over us.

If average Joes don’t adapt and smarten up, they will disappear just like how dinosaurs disappeared centuries ago.

Survival of the fittest and smartest. Only way to move forward.

Isn't this where civilization is heading? Social networks with their 15-second videos or two-line posts have completely weaned some people off reading anything longer than five minutes. What kind of education can we talk about if people sit in their gadgets for days in their virtual reality, and reading books is replaced by a short summary from an AI tool, not always with the right content?

That's right, the strongest survives, the one who understands what the lack of desire to achieve something leads to.

The widespread use of the remote control without getting up from the couch, the so-called "smart home," completely turns society into a lazy and stupid crowd, into a society that believes in news that is convenient for those who want to make society obedient, without the desire for their freedom of choice.

[Lida93]

Do you agree with Suhail?
Yes millions of people don’t know shit about bitcoin and there are those  who know a little but are not yet investing.
Someone else said “The Tech is here but what’s missing is simplicity and real world usability. Time to stop chanting “Mass Adoption” and start building for actual people.

Yes, I agree with his opinion. Even here in the forum it is possible there are those who are not even investing in bitcoin despite their knowledge of it. I can't really say why is that. As bitcoin enthusiasts we really do have to walk the talk on bitcoin. There's no apparent reason for an excuse, we all an see what bitcoin is doing and there's no going back on its expansion and growth. It will be a self betrayal that someone will be a member of this forum and has not the least sats to his name. The adoption starts with us.

In essence they’re suggesting crypto platforms aren’t user friendly.

This forum is a crypto platform, right? I don't know about other platforms but here in this forum there's a visible user friendly attitudes among members both to old and newbies.

[BIT-BENDER]

In essence they’re suggesting crypto platforms aren’t user friendly.

This is the strangest thing I have heard, Crypto-currency platform not being user friendly. I have used several crypto-currency wallet, exchange and platform and not even one was complicated.
If anyone finds Crypto-currency platforms not user friendly then they will also find using a mobile banking app difficult as well.
The human mind is large and wants to learn new things, the excuse of crypto-currency not Being user friendly as a reason for less adoption is not correct.

[Btcdeybodi]

If you don’t adopt Bitcoin, you will stay poor.

On the other way round, those that adopts bitcoin will be super rich right? this is a wrong conclusion actually because there are people who have been doing so well since the invention of bitcoin but they didn't invest. Giving people this kind of orientation that if they don't invest in bitcoin that they will stay poor have made many people to invest without understanding its essence and also under pressure. There are people who are just starting to accumulate bitcoin now with very little amount which we know that it can't give them a reasonable profit talk more of making them rich. I am a bitcoiner but i don't condemn those who are not investing because they might literally be doing other businesses that are performing better for them. Investing in bitcoin is just a hedge against inflation not really to make us rich

[avikz]

While mass adoption isn't happening, the governments and corporates are investing in cryptos heavily. So regulation is indeed a huge problem. Another problem is heavy taxation. In many countries, crypto tax ranges from 20 - 50% which is enough to scare people away from it. The main problem is not tech.

The early adopters are good with tech and that's why they were able to navigate throught the challenging UI and operations. Right now, buying crypto is as simple as buying stocks. No one needs an extraordinary understanding of tech to adopt crypto today. That's my take of the current situation.

[IceLincoln]

In essence they’re suggesting crypto platforms aren’t user friendly.

This is the strangest thing I have heard, Crypto-currency platform not being user friendly. I have used several crypto-currency wallet, exchange and platform and not even one was complicated.
If anyone finds Crypto-currency platforms not user friendly then they will also find using a mobile banking app difficult as well.
The human mind is large and wants to learn new things, the excuse of crypto-currency not Being user friendly as a reason for less adoption is not correct.

Might be the strangest thing to you because you’re a crypto enthusiast and you took your time to learn some things. I don’t think it was easy for you the first time or you didn’t have anyone explain any part to you… you just went in Click on a token, check network and bought or traded or did whatever you wanted.

Using a smartphone can be easy but when it comes to monetary issues a lot of folks are still sceptical about how they operate it. It might shock you but there are a lot of people who don’t use mobile banking.
For a normie everything seems new or different for him and that’s why I think basic knowledge is required at least to show your interest. It’s this interest that’s lacking.

Someone once  said “Bitcoin is for the Rich to get Richer, it’s not for everyone” ….lol,  It’s funny
Will you agree bitcoin is not for everyone?

[Alpha Marine]

I don't agree with this. We live I an age where AI can do a lot of things people thought were impossible a few decades ago, so bitcoin didn't come too soon. Anyone who wants to know what Bitcoin is has a lot of opportunities to do that as long as they have access to the internet. Bitcoin is not something that everybody must use or own, but it's something anybody can own.

The bitcoin-related apps like exchanges and wallets are not more difficult to use than the likes of Facebook, YouTube, TikTok or other social media apps. The only difference is that these are finance apps, and you have to be extra careful or you'll lose your money if you make a mistake. Except you want to start building apps specifically for retards, I don't see how else you want to make it user-friendly, because from my point of view, the apps are very user-friendly to me, and even have things like tutorials in them to teach new users how to use them.

There are many reasons why the adoption rate of Bitcoin is not high, but I don't think the nature of the apps is a major factor.

[Jegileman]

In essence they’re suggesting crypto platforms aren’t user friendly.
To an extent there’s a bit truth in what they’re saying, looking at the world population and the percentage in bitcoin there’s a huge gap in accessibility and usability.
Maybe we should listen to them and work on making bitcoin more user friendly and ways to educate the normal guy and get them more interested in bitcoin. If more people can own a fraction of bitcoin it’ll be better for the community.
What do you think?….. What’s your take on the matter

The world is evolving and we’ve already moved from the past were things are done manually to now being tech based. The world population has a large fraction of people that grow up during the Stone Age and till now, they’re not yet upgraded to the modern tech that we’re into now and also which bitcoin works on, so it becomes very difficult for them to adopt Bitcoin and start using it on a daily basis for transaction as it should be.

A lot of things have stopped Bitcoin from being widely adopted, but maybe if we should focus on this point of actually educating people about bitcoin, we will then get to that point and level we’ve been anticipating for Bitcoin. You don’t need to share a fraction of Bitcoin to everyone, when they learn about it and accept it, they’ll go get a fraction for themselves because of its importance.

[Onyeeze]

Everyone is entitled to air out their opinions concerning cryptocurrencies, and I know very well that the more adoption of bitcoin the more the price increases in the market, what I meant for the price to increases through the adoption is that adoption that comes with investments, bitcoin started with small values but today bitcoin has become one of the largest  digital currency, we have to know that very well, because bitcoin investment is one among other investments, so in summary the way you understand bitcoin it's the way you will talk about bitcoin so if you understand bitcoin wrongly you will give a wrong quote of bitcoin, so that's what I understand from people's interpretation about bitcoin

[coyhasmon]

He's wrong. The problem is that practically 90% or more products that have been build, L1, L2 and L3 chains that have been released are scams. We do not need new altcoins, we do not need new layers, none of that matters. He also invested in many of these legal scams and now he whines about the wrong problems being solved. The layer and technology narrative is just another trendy thing that they managed to sell to altcoiners that believe that shitcoins like ETH will save the world. We need fewer projects, fewer chains, fewer nonsense.

[Z-tight]

I don't see the problem he is talking about, what i can actually understand is him trying to create a problem, trying to fix something that is not broken and still in perfect shape, trying to spread fud maybe.

Just like everything else, people who are interested in it take out their time to adapt and learn about it, that is common sense and this guy should know that, if you are interested in BTC, learn about it; if you want to ride a bike, learn how to do so. Using BTC does not even mean you understand its most technical concepts, the basics will get you started and going real good.

[Zlantann]

Might be the strangest thing to you because you’re a crypto enthusiast and you took your time to learn some things. I don’t think it was easy for you the first time or you didn’t have anyone explain any part to you… you just went in Click on a token, check network and bought or traded or did whatever you wanted.

Using a smartphone can be easy but when it comes to monetary issues a lot of folks are still sceptical about how they operate it. It might shock you but there are a lot of people who don’t use mobile banking.
For a normie everything seems new or different for him and that’s why I think basic knowledge is required at least to show your interest. It’s this interest that’s lacking.

Someone once  said “Bitcoin is for the Rich to get Richer, it’s not for everyone” ….lol,  It’s funny
Will you agree bitcoin is not for everyone?

The first time you used a bank ATM, was it easy? There are still some complicated banking apps. People who think crypto platforms are complicated don't want to learn. Even people who you assume are crypto enthusiasts keep learning. If you fail to read and upgrade your knowledge about the industry, you might become ignorant in many areas. Even today, I spend hours learning something new.

Bitcoin is for everybody interested. Even if the price goes high, low-income earners can still buy with the little they have since Bitcoin can be bought in bits.

[betswift]

The first time you used a bank ATM, was it easy? There are still some complicated banking apps. People who think crypto platforms are complicated don't want to learn. Even people who you assume are crypto enthusiasts keep learning. If you fail to read and upgrade your knowledge about the industry, you might become ignorant in many areas. Even today, I spend hours learning something new.

Bitcoin is for everybody interested. Even if the price goes high, low-income earners can still buy with the little they have since Bitcoin can be bought in bits.

In crypto, there is never a time when you know everything.

You always learn and adapt. That's the charm of it, whether you like it or not, as the one exploring the space

[cr1776]

They aren't mutually exclusive.  Yes, a user friendly interface to bitcoin is good.  As far as zkEVMs and other things like ZKPs in bitcoin they are important too.  Ditto quantum safety.  The people working on bitcoin core don't have to be people working on the user side and probably shouldn't be too much.  What is going on under the hood is the most important part of the puzzle.

So I am not sure who the "we" is he is talking about, but "he" is welcome to do whatever (or fund whatever) he thinks is the most important.  And if he really does think that, what specifically is he doing to remedy the situation?