If You Were Confused Before…New Investors Beware!

Trying to explain my passion to others for everything crypto related these days has been an uphill battle…

I come from an industry that is notorious for never embracing new technology and refuses to change with the times. So telling people ‘hey crypto is the future of online payments and so much more‘ has been…An adventure.

Slowly people have started to come around. They see that it is not all ‘back alley deals and criminals‘ they heard about and sure while there are negative aspects to everything in life, adoption is coming…Ever so slowly.

This was supposed to be the year right?

2018 the grand year of crypto adoption!

People were going to use crypto each and every day and businesses would welcome it with open arms…

My number one beef with the crypto space is this and I mentioned it in a post a few days ago. Crypto isn’t ‘simple enough‘ for mass adoption. And with the recent news from Coinbase, (which is arguably the largest exchange to use and get your feet wet in the markets) things just got even more confusing…

Coinbase is the king!

Let’s be honest, this site is going to have more pull and power in the next 2-3 years than PayPal does. Good riddance to PayPal btw 🙂

But with the news of Ethereum Classic being added to their coins that they support let’s take a look at what we have now as options for new investors to jump into crypto;

2 Bitcoins (BTC & BCH)
2 Ethereums (ETH & ETC)
1 Litecoin (LTC)

Confused yet?

For some of us that understand the difference between Bitcoin Cash, Bitcoin, Ethereum and Ethereum Classic…It’s obvious which is which.

But think about this from a new investors point of view…Bitcoin is trading at around $6500 at the time of this post while Bitcoin Cash is $850. New investor says…’Forget that expensive version of Bitcoin, I’m buying the cheaper one!’ Of course, Bitcoin Cash is a completely different coin than Bitcoin.

And here comes the Ethereum dilemma. Ethereum trades right now for around $500 while Ethereum Classic is at $14….Oooh Ethereum at a discount!!!!

Can we start to see the issue?

I think this is a tiny yet important example of why most people have not yet embraced crypto. It’s too damn confusing!

I’m not a coder. And heaven knows I’m not that technical…But I am a marketer. And part of marketing is having a clear and concise message for your brand and your product. I’m not trying to take a single thing away from the amazing people that are behind crypto and blockchain technology. It’s going to change the world and I’m certain of that…

However…Sometimes I think developers may forget about the human aspect to all this stuff. If you want people to adopt and USE your products they have to understand it and simplicity is the way to make that happen. We need to stop confusing people and make crypto accessible to all. Then and only then will we begin to see the mass adoption we all thought for sure was coming in 2018….

As for Coinbase…I’ll stick to the originals always! It’s much less confusing 🙂

(And buy lots of STEEM if they ever add it…One can dream…)

I’d love to hear your thought son this. Please do comment below 🙂

P.S. This is my first attempt at using the brand new steempress-io app for my wordpress blog / Steemit blog. If things seem off, I’ll do my best to edit them and get it looking proper 🙂

2 thoughts to “If You Were Confused Before…New Investors Beware!”

  1. Hi Jon…

    Sounds good to me… but this whole teaching people so they will understand how to use it… IS the whole purpose of BitcoinBully!!! You CAN spoon feed the necessary information, but sadly you cannot force people to come to the table!!!

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