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>> The biggest challenge for cryptocurrencies today is raising interest and trust in the general population. I would actually say its getting the general publi

>> The biggest challenge for cryptocurrencies today is raising interest and trust in the general population. I would actually say its getting the general public informed. 75% of the US population are aging baby boomers. They can barely work an iphone, how the heck do you think they're ever going to accept cryptocurrency? Even with a ton of marketing, this is something that is completely foreign to 85% of the general population.

k-mcgrady 13y ago
>> "I would actually say its getting the general public informed. 75% of the US population are aging baby boomers. They can barely work an iphone, how the heck do you think they're ever going to accept cryptocurrency? Even with a ton of marketing, this is something that is completely foreign to 85% of the general population." You're saying 75% of the US population cannot work an iPhone? Or 75% are baby boomers?? Just so you're more informed next time you make up stats, less than 15% of the US population would be considered baby boomers. Source: http://quickfacts.census.gov/qfd/states/00000.html http://quickfacts.census.gov/qfd/states/00000.html and http://en.wikipedia.org/wiki/Baby-Boom_Generation http://en.wikipedia.org/wiki/Baby-Boom_Generation
- at-fates-hands 13y ago
  "Baby Boomers make up 35% of the American adult population (Scarborough)." "By 2015, those aged 50 and older will represent 45% of the U.S. population (AARP)." http://www.immersionactive.com/resources/50-plus-facts-and-fiction/ http://www.immersionactive.com/resources/50-plus-facts-and-f... Ok so not exactly 75%, but I was a lot closer than the 15% you mentioned.
  - k-mcgrady 13y ago
    If we take your first figure of 35% I am closer. If we take your second figure of 45% we are each 30% off. So yet again - stop making things up, you are not a lot closer. Also "By 2015, those aged 50 and older..." Some of those people wouldn't be considered baby boomers as that generation ends in 1964.
gnaritas 13y ago
Don't make up statistics to bolster your point, it detracts from it. Every number you mentioned is wrong.
kordless 13y ago
I agree, but I think in practice it will be quite simple. Most people have phones which can be used as wallets. I already pay for my coffee at Peet's with my Nexus 5 using NFC. Assuming most drip into a spending wallet, and are OK with that spending wallet's security model, this leaves the challenge of implementing savings wallet security. Banks are already set up to provide these services and when they decide to jump in, adoption will take off pretty quickly. Those services could come in the form of cash exchange at ATMs, wallet hosting, compromised savings wallet insurance (if they host your wallet), best practices around passwords/etc., loans, and cold storage security via fireproof lockboxes. This will (obviously) require the banking industry to wrap their heads around these new models. How long that takes is anyone's guess.

k-mcgrady 13y ago

>> "I would actually say its getting the general public informed. 75% of the US population are aging baby boomers. They can barely work an iphone, how the heck do you think they're ever going to accept cryptocurrency? Even with a ton of marketing, this is something that is completely foreign to 85% of the general population." You're saying 75% of the US population cannot work an iPhone? Or 75% are baby boomers?? Just so you're more informed next time you make up stats, less than 15% of the US population would be considered baby boomers. Source: http://quickfacts.census.gov/qfd/states/00000.html http://quickfacts.census.gov/qfd/states/00000.html and http://en.wikipedia.org/wiki/Baby-Boom_Generation http://en.wikipedia.org/wiki/Baby-Boom_Generation

at-fates-hands 13y ago
"Baby Boomers make up 35% of the American adult population (Scarborough)." "By 2015, those aged 50 and older will represent 45% of the U.S. population (AARP)." http://www.immersionactive.com/resources/50-plus-facts-and-fiction/ http://www.immersionactive.com/resources/50-plus-facts-and-f... Ok so not exactly 75%, but I was a lot closer than the 15% you mentioned.
- k-mcgrady 13y ago
  If we take your first figure of 35% I am closer. If we take your second figure of 45% we are each 30% off. So yet again - stop making things up, you are not a lot closer. Also "By 2015, those aged 50 and older..." Some of those people wouldn't be considered baby boomers as that generation ends in 1964.

gnaritas 13y ago

Don't make up statistics to bolster your point, it detracts from it. Every number you mentioned is wrong.

kordless 13y ago

I agree, but I think in practice it will be quite simple. Most people have phones which can be used as wallets. I already pay for my coffee at Peet's with my Nexus 5 using NFC. Assuming most drip into a spending wallet, and are OK with that spending wallet's security model, this leaves the challenge of implementing savings wallet security. Banks are already set up to provide these services and when they decide to jump in, adoption will take off pretty quickly. Those services could come in the form of cash exchange at ATMs, wallet hosting, compromised savings wallet insurance (if they host your wallet), best practices around passwords/etc., loans, and cold storage security via fireproof lockboxes. This will (obviously) require the banking industry to wrap their heads around these new models. How long that takes is anyone's guess.