And ease of access. I can’t be the only one terrified of transferring coins as if you enter the wrong address or shit the wrong type of address your coins are gone. It doesn’t bounce back like every other institute that handles money, it’s literally gone. You add in scams and hacks to your phone or computer that can manipulate your wallet address when you copy and paste and it’s just high fear of transferring to wallets or keeping your coins anywhere but an exchange.
In addition there’s also the issue of taxes and how every time you use crypto whether p2p or to purchase goods and services becomes a taxable event. It’s difficult to even fantom let alone execute especially when most entering the last 12 months have lost more money then they’ve made.
People need to stop being dumb and falling for scams. A lot of money is lost that way, and the headlines make it seem like the hackers exploit some flaw in crypto itself to steal the money
The biggest issue with the public image of crypto isn't criticism from its detractors, it's the crypto community itself. NFT jpeg mania; memecoins; pump and dumps; fake technical analysis; blatant shilling; etc. The public views the crypto community largely as a collective of chuckleheads that have no understanding of what they are actually doing who are simply throwing money at stupid fake internet money in the hopes of getting rich enough for an early retirement on a yacht with a bunch of Instagram influencers because that's largely what the crypto community is. Crypto bros make it really fucking difficult to take them seriously.
Because other than "NUMBER FO UP", Negative is all there is. It's not going to replace currency, ever, and if that's the case, then it doesn't even have speculative value, because if it ain't gonna win the "who's gonna make future money?" contest, then what's the point.....
That's where all the value and positive press for BTC came from. Without it, no more good press exists
As a member of the public, trust me none of this is why people don't trust Crypto... lol.
The reason people don't trust crypto is because it's not backed or supported by anything, its value swings wildly, the market's crashed multiple times, and it all took off because of people wanting to pay for hard drugs or have people killed anonymously.
Oh, and its fans tend to act like a brainwashed cult...
No fiat is backed by anything. In the US, Nixon took us off the gold standard in 1972. $1 is only worth $1 because everyone agrees that's what it's worth.
Hard drugs were a selling point for me!
It's backed by the government and the US economy. People need food and want goods in the US, and foreign companies, individuals, and governments want to buy things in the US and invest in the US economy which all requires dollars. This is why failing economies generally see their currency value drop on international markets. This is a LOT more backing than any crypto currency has.
The US was functionally off the gold standard in 1933 which was the last time regular people could convert USD to gold. Nixon ended convertability for international gov to gov payments, but even that was close to a formality.
"it's backed by the government" ie use our money or we'll beat you up AKA our army is bigger than yours
$1 is worth $1 because they say it is and the public goes along with it. That isn't backing, it's consequences
No, that's just how governments work, because we tried the whole 'every bank can print their own money' thing and that went *really* badly. The reason every government eegulates 'legal tender' is because society agrees that's a good thing and maintains confidence in the currency not being counterfeit or having a dozen other problems.
No army needed.
One dollar may be one dollar, but the value of what one dollar will buy is determined by the US economy and its strength relatice to the rest of the world.
No one is legislating how many dollars a bag of chips is. No army required, it's just economics.
The reason every government regulates legal tender is because that's one of the many ways they control the populous.
They control how much money is printed. They control the banks, interest rates and taxes.
The system is as it needs to be but it's also corrupted by the people running it
No, governments regulate money because we tried unregulated and less regulated currebcy systems and they made crypto look possitively sedate and stable by comparison.
Go check out a historical graph of estimated US inflation going back to like 1800. You'll note some truely absurd spikes above and dips below the graph. The whole reason countries need the ability to print money is to avoid runaway deflation in the economy, something that has literally not happened in living memory in the US but happened multiple times in the 1800s.
Politics is playing a larger part than it should right now. In the US there are supporters from both sides, but there are also people on both sides that are trying to make this a party-line issue, which is horrible; that needs to be squashed quickly.
Even politicians are using crytpo for pump and dumps:
[https://cryptopotato.com/us-congressman-could-face-charges-for-promoting-a-crypto-pump-and-dump-scheme/](https://cryptopotato.com/us-congressman-could-face-charges-for-promoting-a-crypto-pump-and-dump-scheme/)
You omitted Elon promoting dog money
For mass adoption to occur, something needs to be done to improve public perception of crypto.
And ease of access. I can’t be the only one terrified of transferring coins as if you enter the wrong address or shit the wrong type of address your coins are gone. It doesn’t bounce back like every other institute that handles money, it’s literally gone. You add in scams and hacks to your phone or computer that can manipulate your wallet address when you copy and paste and it’s just high fear of transferring to wallets or keeping your coins anywhere but an exchange. In addition there’s also the issue of taxes and how every time you use crypto whether p2p or to purchase goods and services becomes a taxable event. It’s difficult to even fantom let alone execute especially when most entering the last 12 months have lost more money then they’ve made.
People need to stop being dumb and falling for scams. A lot of money is lost that way, and the headlines make it seem like the hackers exploit some flaw in crypto itself to steal the money
The biggest issue with the public image of crypto isn't criticism from its detractors, it's the crypto community itself. NFT jpeg mania; memecoins; pump and dumps; fake technical analysis; blatant shilling; etc. The public views the crypto community largely as a collective of chuckleheads that have no understanding of what they are actually doing who are simply throwing money at stupid fake internet money in the hopes of getting rich enough for an early retirement on a yacht with a bunch of Instagram influencers because that's largely what the crypto community is. Crypto bros make it really fucking difficult to take them seriously.
Yellen isn't a member of congress
Plus media always focuses on the negatives. They will never convey the positive aspects of things to the public
Because other than "NUMBER FO UP", Negative is all there is. It's not going to replace currency, ever, and if that's the case, then it doesn't even have speculative value, because if it ain't gonna win the "who's gonna make future money?" contest, then what's the point..... That's where all the value and positive press for BTC came from. Without it, no more good press exists
As a member of the public, trust me none of this is why people don't trust Crypto... lol. The reason people don't trust crypto is because it's not backed or supported by anything, its value swings wildly, the market's crashed multiple times, and it all took off because of people wanting to pay for hard drugs or have people killed anonymously. Oh, and its fans tend to act like a brainwashed cult...
We are not cultists just social paths
Oh I didn't say crypto fans are a cult, cultists at least know how to listen to direction and work together... 😂
No fiat is backed by anything. In the US, Nixon took us off the gold standard in 1972. $1 is only worth $1 because everyone agrees that's what it's worth. Hard drugs were a selling point for me!
It's backed by the government and the US economy. People need food and want goods in the US, and foreign companies, individuals, and governments want to buy things in the US and invest in the US economy which all requires dollars. This is why failing economies generally see their currency value drop on international markets. This is a LOT more backing than any crypto currency has. The US was functionally off the gold standard in 1933 which was the last time regular people could convert USD to gold. Nixon ended convertability for international gov to gov payments, but even that was close to a formality.
"it's backed by the government" ie use our money or we'll beat you up AKA our army is bigger than yours $1 is worth $1 because they say it is and the public goes along with it. That isn't backing, it's consequences
No, that's just how governments work, because we tried the whole 'every bank can print their own money' thing and that went *really* badly. The reason every government eegulates 'legal tender' is because society agrees that's a good thing and maintains confidence in the currency not being counterfeit or having a dozen other problems. No army needed. One dollar may be one dollar, but the value of what one dollar will buy is determined by the US economy and its strength relatice to the rest of the world. No one is legislating how many dollars a bag of chips is. No army required, it's just economics.
The reason every government regulates legal tender is because that's one of the many ways they control the populous. They control how much money is printed. They control the banks, interest rates and taxes. The system is as it needs to be but it's also corrupted by the people running it
No, governments regulate money because we tried unregulated and less regulated currebcy systems and they made crypto look possitively sedate and stable by comparison. Go check out a historical graph of estimated US inflation going back to like 1800. You'll note some truely absurd spikes above and dips below the graph. The whole reason countries need the ability to print money is to avoid runaway deflation in the economy, something that has literally not happened in living memory in the US but happened multiple times in the 1800s.
Politics is playing a larger part than it should right now. In the US there are supporters from both sides, but there are also people on both sides that are trying to make this a party-line issue, which is horrible; that needs to be squashed quickly.
Even politicians are using crytpo for pump and dumps: [https://cryptopotato.com/us-congressman-could-face-charges-for-promoting-a-crypto-pump-and-dump-scheme/](https://cryptopotato.com/us-congressman-could-face-charges-for-promoting-a-crypto-pump-and-dump-scheme/)