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This will be interesting. What often isn’t understood by many is the fact that if you entire experience with blockchain/cryptocurrencies is use of an exchange
by kkielhofner 4y ago
This will be interesting.
What often isn’t understood by many is the fact that if you entire experience with blockchain/cryptocurrencies is use of an exchange you actually have no experience with blockchain.
Exchanges essentially run an order book that, unless you transfer crypto in/out, doesn’t interact with the blockchains at all. This is due to blockchain transaction speed, cost, etc.
Users are going to learn some hard lessons. Blockchains are somewhat brittle. They’re slow. They’re relatively expensive. The UI/UX has a very long way to go.
We can all expect to see a flood of stories in the coming months of users losing their cryptocurrencies due to human error, forgetting their password(s), etc.
Blockchains are extremely complex and unforgiving. I don’t think the vast majority of Coinbase users are prepared to interact with it directly.