Topic: If we want people to be their own bank, we have to rethink things. A Proposal - page 2. (Read 277 times)

If you place your trust in a particular developer, it's possible that BTC will experience an FTX moment. Imagine every bitcoiner promoting a specific wallet. The App Store and other third parties can introduce a malware/backdoor into that wallet. As a result, a lot of cryptocurrency will be lost by millions of people.

 A core wallet isn't centralized. All exchanges run on core.


No it doesn't, I propose and educational tiering here, kind of like a Russian nesting doll, a simple set of read more buttons can open the next level of education if wanted.
You have to understand people just react 90% of the time before they observe and react informed.  

It will centralize bitcoin and place a great deal of trust in the hands of a select group of central figures.


This breaks that idea of trust-less.

I'm noticing a lot of communication gaps with newcomers in the bitcoin ecosphere.
A lot of the bitcoin ecosphere commodities and opensource projects require a pretty deep understanding of a few things that majority of people don't have.

1. Computer science.
2. Commonsense.
3. Security.

(+More)

Retail investors can't be their own bank.

This is due to a variety of things, like its highly technical, needs a steep learning curve, or lacks user-friendly features or documentation.
Documentation that is available is assumptive that 1, 2 and 3 is assumed knowledge.

So how could bitcoin be remarketed for retail investors to not use exchanges?

Education helps, but the complexities drive a lot of people away and they may dip toes in the crypto water but,
 not without the assistance and simplicity of an exchange or custodial service.

A Proposed Plan

Re-design Core
or have a light wallet/version of core targeted for retail investors kind of like electrum but redesigned easy enough for a child to understand and navigate.
Implementing official things like an official core sanctioned APK or iOS App would be a great start.

Re-educate on Core
Elaborate and implement documentation on how it works and allow then to go deeper as they keep reading at will,
avoid terms like elliptical curve on the surface and stop doing shit like assuming people can compile their own apps or run checksums.
As cringy as it sounds saying it out loud. It's still a barrier that points to Coinbase or other exchanges for retail investors.

Re-Market Bitcoin Core  
Bitcoin is the most successful organic product I've ever seen marketed,
If re-design and re-educate are executed properly this will organically follow.

Let's discuss how we could make organic opensource products in this ecosphere better than exchange counterparts.