What is currently stopping many of us from starting?
Our team has asked and researched influential speakers and leaders in finance and crypto about what the biggest challenges are currently.
Leading specialists crypto thoughts ;
Peter Shiff, Euro capital CEO
“I doubt people hold a lot of it, similar to buying casino chips, if someone wants to gamble, they can.”
Under-educated in cryptocurrency knowledge including trading, understanding and best practice is a big factor. If you don’t understand how cryptocurrency works or try to understand, it’s a huge problem. Education is extremely important. Also, do many of us know how to even get crypto?Barry Silbert, Digital currency group CEO
“Money is digital.”
Cryptocurrency is completely digital, you cannot hold it, or touch it. This means that apps and interfaces are very important to use the technology. Older generations who struggle to use a computer or smartphone would find it very difficult to use cryptocurrency.Gary Smith, Professor of economics at Pamona College
“The future is electronic money and that future is here.”
Some people still like cash, there are 12 billion 100 USD bills in circulation up from 2 billion, in 20 years. Cash is still the favorite of a great many people.
Investing in Bitcoin…..
As an investment, there are investors and speculators. Investors buy an asset because they want cash flow. Buying apartments, renting them, stocks, offering dividends, but Bitcoin, it’s a speculation. It is bought not because it yields any cash, but because you think you can sell it to someone else for a higher price.Gavin Anderson, Core developer of Bitcoin
“Just as it got easier to use email, it will be easier to use Bitcoin as people invest in it and become more familiar with it.”
Like any new technology, it will become better and easier to use. But time is key. Currently, the apps and platforms are constantly growing, but it isn’t quite as easy as what many people are currently used to.Warren Buffett, American Business Magnate
“Bitcoin itself is creating nothing. When you’re buying non-productive assets, all you’re counting on is the next person is going to pay you more because they’re even more excited about another next person coming along.”
Bitcoins real day to day usage, is a huge part of why a majority of people, currently don’t understand why and how it is valuable. Can I use it to buy coffee? Can I pay my bills?
All technology has given us teething problems, in fact, every time we upgrade our phones or computers, we have moments of, “how do I do this?’
It’s a barrier but one we can most certainly overcome.People love to compare bitcoin with gambling, people love gambling, they love to win money, they regret when they lose money and the average gambler loses. Don’t be the average person in cryptocurrency.
We look forward to sharing more as we attend events and learn more.UniDAX Official
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