Topic: Btc and crypto can only stay if it getting simple also secure people are afraid (Read 223 times)

I am in complete agreement.  But then there are some issues such as eliminating core functionalities of Bitcoin.  Signing messages, Replace By Fee, Custom Fee (sat/byte or sat/vByte), Change Addresses, Confirmations and all of that.  You have to hide all of it if you want a wallet to be as easy to use as a banking app is.  But then what do you have?  An app that only shows inputs, outputs, transaction ID, fee and a little check mark for when the transaction has over 3 confirmations?

It could be possible.  I think the most straight forward app to use was Bread Wallet, which now got purchased by Coinbase.  I used it a few times before but I could not handle the missing core features I mentioned above.  What someone could do however is, they could create a very basic wallet with all features mentioned above missing until you activate some sort of Advanced version of the app.

I could not agree more with you, we need a very newbie friendly Wallet.  On the other hand, people should stop being so darn lazy and start doing your own research.  Bitcoin, and about any feature I mentioned earlier that it has, require just under 5 minutes each to understand what, why and how.  I doubt the average person does not get what Signing Messages are for and how they work if they quickly Google it.  I doubt they would not understand Change Addresses.  I doubt they would not understand what a Confirmation is.  They are just lazy and comfortable with what their TV is telling them to think.

Would argue this is caused by Bitcoin still being partially immature for now.  We need time until the majority starts to understand why Bitcoin exists and actual facts about it, not what the mainstream media wants them to hear.  Once the majority gets it, we will move so much easier through adoption and all.  Imagine Bitcoin exists for 40 years, which is 10 halvings, and every single time a halving occurs the same cycle happens.  Bitcoin crashes again, and then recovers to All Time Highs.  The longer this history goes for, the more people will understand it is just part of the Bitcoin ecosystem, part of its market and nothing else.  It has been said so many times before that Bitcoin is dying and yet here it is.

Here, I disagree.  Stable coins are only good until stuff like Terra's complete disintegration happens.  They are good for very short term usage when you need to buy an Altcoin and there is no direct parity between your coin and the Altcoin you want.  So you go Your Coin > USD Stable coin > Altcoin.  Otherwise, Fiat Stable coins are I must say pretty much unnecessary really and a time ticking bomb, just like Terra was.  If you want Fiat, then just use Fiat parities which, I would argue, even these are time ticking bombs.

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Regards,
PrivacyG

Bitcoin will become mainstream, when a global collapse of Fiat currencies happens. We saw what happened in countries where the Fiat based economy collapsed... (Zimbabwe) ...and people started to search for alternative payment options like Bitcoin. 

Do not think Bitcoin wallets are too complex for people to learn, because uneducated people in 3rd world countries in Africa are using M-Pesa that are even more complex to learn. (Mobile payment method) 

Cryptocurrencies and bitcoin are simple already if you spend some time and learn about them, surly learning about the bank accounts and bank transactions will take some time either, and just because we are all using the bank system for years we think that's simple for us to the banks to the bank apps while opening a bank account can take some hours while opening a bitcoin wallet will take less than two minutes and this shows how simple it is and in the other hand how transparent it is because unlike the bank you can see how the transactions are working while you can't have this option while using the traditional system and this can be a good sign of security.

are you open to depositing your BTC to banks?

if not then don't use the bank apps for your BTC. people will use whichever banks apps they can use but you can not expect a bitcoiner deposit a satoshi to them.
however the retirees will likely try to trust them with such. old people will rely to 3rd parties because they also couldn't trust their sons and daughters could manage their funds.

Is Bitcoin not simple enough to use? From downloading, installing a wallet to creating a wallet, making backup, recovering it and making transactions.

Is Bitcoin not secured enough? If you compare Bitcoin to alternate coins, it is the most secured. What do you need more?

https://www.crypto51.app/
https://howmanyconfs.com/

Agree and even worse about stable coins is that most seem to be algorithmically backed, which means next to nothing, and are the next prime candidates for de-peg, just a matter of time and another shit show again. 

Finally we agree franky, also someone who wants any token to even be backed by a fiat shitcoin, didnt understand yet what Bitcoin is here to fix. Maybe its time for people to understand for people what theyre actually using and its good Bitcoin doesnt make it that comfortable, if they expect a user experience that adjusts to 0 iq, but actually its not even hard to use Bitcoin when using the brain just slightly.

It is unfair to say Crypto is less secure and it gives the way for losing. Everywhere the security systems were developed good. Compared to the old days, now it is very rare to see information about security breach. This is all because of the common people. Earlier technology is designed for certain level of people. Now everyone have begun to use it. According to the need things need to be changed and provided in a better way.

For all who say Crypto is to loss, then it is the wrong understanding about the system. Same as that one use a fiat wallet, people are able to access a cryptocurrency wallet and make payments. Even the one who hasn't got much technical knowledge, but used to smartphones will easily use cryptocurrency wallets.

Lol, heard this argument many years ago, but come to think of it, if the new set of investors are thinking the same, we should be dead by now right? But last year alone, we reaches new all time high.



I guess those who have been in this market for so long, or at least see the up and down in 2107 bull run and then the subsequent bearish cycle knows how to work with this so called "flaws". And it's going to be a vicious cycle, so it's up to you to adopt or go with the traditional way of investing like stocks or other commodities.

Should I tell you that I spent 5 hours creating and “verifying” a joint bank account with friends recently, while I can create a fully backed up a bitcoin wallet in just 5 minutes?

So according to you stocks have a real value and cannot be manipulated while Bitcoin can? You must really be do dumb, am sorry to say.

Who cares about stablecoins?

There is no issue except your choice to think that there's a problem.

WOW surprise. nice to see surprise, but still a surprise to see your alert to the concept.
screw it 50 merit for this solid message you made.

..
none of the current sidechains/altnets have a truly unbreakable way to avoid 'de-pegging' their token.
they all rely on the cooperation and trust that software wont change at user level or that the other partners of the contract wont abuse their signing abilities against the rest of the partners.

there are many fundamental flaws that still exist in pretty much any/all side chains can can result in many bad things. including fractional reserving and also double spending.

stable coins are the worse offenders because a bank balance of say $10b is only 'trusted' to exist as a reserve allotment for a peg of $10b stable tokens. by the receiving bank account holder. but nothing stops them then secretly spending the real bank fiat balance in the bank account while pretending it still exists on their Mysql database .

For what must be the hundredth time, no, they aren't "good".  One day you'll surprise everyone and actually manage to create a post that doesn't attempt to shill for shady corporate IOUs without sufficient backing.

Stablecoins are like a worse version of the tokens you get at arcades, or chips at a casino.  They might bear a vague resemblance to money, but even a child can tell they're not the same thing.  I don't know what your excuse is for being unable to spot the difference. 



if you actually cared about volatility in Bitcoin (and I'm not convinced you do), the healthiest thing you can do is stop propping up shitty stablecoins that are going to fail one by one and cause shocks to the market.  The biggest cause of volatility is people being reckless and playing with IOUs which are not backed 1:1 is incredibly reckless.

I'm sure the average users of this forum group are not from a financial background. Votality scares them because they have never, ever studied it, anything that is risky will definitely have a benefit. For those who already understand crypto volatility, of course they will use it to make a profit. You don't need to be a financial expert, you just need to learn to understand what volatility is and master technical analysis. if the goal is just to make a profit, understanding the use case of bitcoin or crypto is not mandatory, you only need to invest, if the profit sells.

I can create a Bitcoin wallet with no transaction limitation within 2 minutes.
Creating an account would require identification, paperwork, visiting a physical Branch and possible future visits in certain situations.
A Bitcoin wallet seems easier to me. There's also nothing technical about transacting on a Bitcoin wallet.

Anyone with knowledge of investments or a few minutes of research would understand volatility.
Also, you don't need deep financial background to understand how absence of third party interference in your finances is good, or to understand how inflation adversely affects you.

Everyone must not use Bitcoin.
The protocol is not going to change to be more accepted, if fiat, stocks, commodities, etc works for you, then stick to them.

If people start lose here then they might leave it.
And regulations abd tax laws sounds like you tax from casino winnings.
Also even if fiat curremcy is gone...right now the crypto wallets are difficult to use it should be simple as your online banking app then it can be mainstream use case.
Even the fiat can end its the people who choose what they want to use it the btc volatility not good point either most if people are not with financial background neither tech background they can not understood the usecase or value of btc the volatility scare them.
Second is the fud btc price moves according fud or market manipulation too much people who looking for solid assets not even consider gold to play with but stocks of the real company or oil gas shares or energy wich has real value of needing.
Stable coins...well they are good but until you can t use them in your bank app mobile banking then its unlikely most people will even bother to open binance account or any other exchange. The knowledge wich usdt or other stable coin uses wich blockchain...it confuses also many people the interface of crypto and use tools still not easy to understood for the many people.

So the question is is there are clear plan and path way to resolve those mentioned issues so the non traders non speculators or swindlers will start to adopt and get in crypto and use it daily ?
Also t b honest you cant pay taxes of crypto its a on gambling stage right now and any earning is just luck
Its like u walk in the park find 50$ bill and u paying taxes of this ?