4 ms·
The use of intermediaries is due to the deficient user experience of cryptocurrencies and cryptocurrency community: 1) They downplay the expertise and knowledg
by asoneth 4y ago
The use of intermediaries is due to the deficient user experience of cryptocurrencies and cryptocurrency community:
1) They downplay the expertise and knowledge required to manage your own tokens.
2) They advocate for the use of cryptocurrencies by normal (i.e. non-expert) users as this increases the value of their holdings.
3) They prefer to blame users who make mistakes, are hacked/scammed, or otherwise lose (real) money for their lack of technical expertise.
Given this, it's not surprising that the enormous gap between naive engineering assumptions and human reality is filled by intermediaries despite how consistently they fail. As long as cryptocurrencies continue to exist beyond a tiny niche I don't see this changing.
- nobody9999 4y agoAgreed. The knowledge gap between "normies" and "crypto-aficionados" is pretty large. Which is, of course, why so many crypto "businesses" turn out to be scams of one sort or another -- the asymmetry of information makes most folks easy meat for scammers. To point up this asymmetry, go ahead and watch this[0]. The lack of knowledge WRT crypto-currencies (let alone smart contracts) among the hoi polloi is striking in comparison to those who are in the know. [0] https://www.pbs.org/wgbh/nova/video/crypto-decoded/ https://www.pbs.org/wgbh/nova/video/crypto-decoded/ (Recent NOVA episode).