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All these products are amazing technical feats, but they all aim to do one thing: cutting the middleman The middleman is a social necessity, not solely a techn
by ObserverNeutral 5y ago
All these products are amazing technical feats, but they all aim to do one thing: cutting the middleman
The middleman is a social necessity, not solely a technical one. Retail doesn't want the responsibility. Is that simple, so enter the middleman there to absorb risk.
A protocol can't be a middleman. A middleman should be capable of being sued and be the fall guy if something goes wrong. Mostly it should be there to give peace of mind to the customer.
A protocol can't give peace of mind to the customer given that such code can't be read by 99.99999999999% of the population.
The middleman needs to exist to give peace of mind to the customer, and as I said it can't be a protocol. So it can only be a company with a brand, spending millions in Ads to earn the trust of the consumer so that he'd feel confident to put his money in it and in turn can sleep tight at night, knowing that his money are with an institution which is somehow trustworthy.
Nobody in the crypto world ever makes a market study or a revenue projection, or even a survey among the population and users.
People go and build stuff. Projecting themselves into the retail user. The only problem is that the crypto founder is not representative of the retail user, not even one bit. The crypto founder wants the responsibility, wants to kick the the final penalty in the World Cup final or be with the ball in your hands and 2 mins to win the SuperBowl. That is not the mindset of the retail user.
"We ship the products we'd want to buy" as Steve Jobs said in a keynote...only he used it as catchphrase to get the applauses and sell Apple to the world and to Wall Street.
People in crytpo , they do it for real. You never do it for real. You end up with your butt on the ground and nothing to show for financially.