I agree with most of what you’ve said apart from:
Crypto is not something that you should just be able to get involved in with out a good understanding of what you are getting into…
It’s true that mining or technical aspects of crypto are not something everyone should just jump into but the application / usage of Bitcoin is something everybody should definitely get into. It just needs to be a lot easier. Honestly how is an average person meant to grasp the stone age qt wallets for example? Average Joe is bound to run into issue or even lose his coins.
Let’s look at GAW for example and people can say what they want about for example Josh Garza. If one leaves the actual company and it’s performance out of the equation then we’d have to admit that the vision (which was sold) had a solid base and had a lot of potential. The path chosen down the line and everything that came with it is a true shame but those that still remember the actual vision would most likely agree.
[quote=“mharter, post:2, topic:459”]
It has been made apparent that crypto is not ready for the main stream, yet. The cloud companies tried to exploit this and have failed miserably, it appears. And probably set main stream adoption back many years. But maybe that is what is needed at this point in BTC existence.[/quote]
Totally agree again. Mining isn’t something the mainstream should have to worry about anyway. The mainstream wants to pay online and offline in a convenient way for whatever they purchase. The average mainstream person couldn’t care less if the FED prints the money or if we mine it. They just want to spend it without trouble and preferable with very little risk.
Another point is that PoW is not optimal for a currency. PoS might be but it’s not needed. In reality you can’t put the faith of a “currency” in the hands of miners securing the network, or not. It’s a risk factor which can’t be sustained for a globally recognized currency that can be compared to the USD or the Euro.
So what are the alternatives moving forward? Something like Ripple with a 100% pre-mine controlled by a bank? Not preferable either since all the power and control goes back to one institution´. An alternative would be perhaps a coin that is neither PoS or PoW but instead charges “slightly” higher transaction fees which would or could be used to maintain a global network of dedicated nodes to secure the network.
I guess time will show but I can see the industry change in 2105. To what? I don’t know, hopefully to the better.
I know right? Recently it seems everyone echos others which is a good thing. It means that a large number of people feels/thinks the same.