Why Cryptocurrencies failed to reach Mainstream Adoption.
6 Factors or reasons why even after more than a decade of existence Cryptocurrencies failed to reach Mainstream Adoption.
Mass adoption and Mass utility remains an elusive dream.
1. Investing
2. Mining
3. Scalability
4. Lack of Intrinsic Value
5. Cybersecurity
6. Volatility
The first two are the entrance barriers and the two main reasons why until now mass adoption and mass utility are never achieved by all aspiring cryptos.
Problem:
Centralization of power and money put 1st Generation Cryptocurrencies out of reach.
The centralization of power in Bitcoin's network makes it very difficult and expensive for the average person.
Currently, If you want to acquire/earn Bitcoin,
You got 2 options:
1. Mine It Yourself. (original pathway of acquiring /earning) which is sadly very difficult to do today - a closed door to the masses.
Just hook up the specialized hardware (here's a rig on Amazon, if you're interested!) and go to town. Just know that since you'll be competing against massive server farms from across the world, consuming as much energy as the country of Switzerland, you won't be able to mine muc
2. The new pathway of acquiring/earning digital money - "Investing"
Buy Bitcoin on an exchange. Today, you can buy Bitcoin at a unit price of $49,000 / coin (note: you can buy fractional amount of Bitcoin!)
Of course, you would also be taking on substantial risk in doing so as the price of Bitcoin is quite volatile.
Money is and was designed to be earned and spend, not to be bought and sold.
Btc showcase itself as the Evolution of Money and set an example being originally earned (by mining).
But the original pathway of People to earn digital money which is "mining" is now being replaced with "Investing."
Today, investing on cryptos become a norms which is another closed door to the masses - everyday people are left behind.
Reality check...
All Cryptocurrencies that follow Btc becomes "Investment Cryptos".
People nowadays need to invest, need money to acquire Crypto defeating the original designed of crypto as currency/"digital money".
Now, CT embarked to create a new crypto called Pi. Develop and designed Pi to become the currency of Everyday People where they can earn through mining process once again like Btc but using a more user, eco-friendly mining mechanism.
Pi already solved the two main barriers that hinders people to enter the Cryptospace. Pi is currently working for the remaining four problems.
Pi Scalability is fairly sufficient but can be made more faster. Unlike the current cryptos that are only representation of value like the paper money that don't have real value, Pi aim to create, build real value through intrinsic utility.
Intrinsic utility begets intrinsic value. Passphrase is advance protection from the so-called coming quantum comp. Pi will have appreciating value being used daily by Millions of People around the World.
Pi is about to disrupt the Centralized, Third Party Intermediaries system in both Financial and Information sectors.
@desspi322
