It’s Getting Easier

Cryptocurrency and Blockchain Technology are going to be the norm soon

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I remember my first ever website I built. It was a Geocities subdomain page. Back then the terminology had not settled in as it is now, so it was known by multiple names; homepage, domain, subdomain, website and so on. It was even sometimes referred to as “home directory index” - because mostly non professional pages back then were simply index.htm documents sitting in a Unix home directory.

How times have changed. Long gone are the hand coded HTML tags and UNIX scripts - we now live in a drag-and-drop WYSIWYG world.

I think the same is happening with Crypto. At first everything was super geeky and clunky. Then came the applications sitting on the blockchains making Crypto more accessible to the non-geek. Everything is changing and we are approaching the time when the geekiness disappears to the background, freeing up our minds to concentrate on utility.

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On my flight back to London from Prague, the inflight magazine had an entire section on Blockchain tech. There were about 6 articles featuring different use cases. While they were all quite interesting to me, some of these ‘coins’ are claiming to innovate things that we already have here on the Steem blockchain. Many of them tout their incredibly fast and “unprecedented” transaction speeds - while being much slower than Steem. It was, however, great to see so much excitement in the arena.

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Even just a few months ago, moving funds from my fiat bank account to my Steem wallet was a bit of a pain. I had to perform the following tasks;

• Send money from bank to Revolut (top up) - volume limitations applied.
• Exchange Pounds Sterling to Euros in Revolut - volume limitations applied.
• Send Euros from Revolut to Coinbase - Intraday cutoff times applied.
• Deposit Euros from Coinbase Euros wallet to G-DAX.
• Trade LiteCoin-Euros pair - volume and price issues
• Send LiteCoin to @blocktrades to trade for Steem/SBD

To be fair, I got quite apt at performing the above tasks and using iOS apps did help retain some of the settings so I didn’t need to type in long addresses and other such info over and over again. However it was still a bit of a pain, plus the time required for all the tasks to complete sometimes meant I missed some good buy-in prices.

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I moved some money around yesterday evening and wow! Things have changed for the better.

• Coinbase has rebranded G-DAX as Coinbase Pro, so now both are better integrated. The wallets have now been merged, so no need to transfer funds between the two.

• Coinbase now has a GBP (Pounds Sterling) wallet. They also have a Barclays bank account to process payments and transfers. This means I can send money directly from my bank account almost instantly! Furthermore, it means I can cut out Revolut completely! saving me about 3 steps and some volume restrictions. Another bonus is I don’t lose any money exchanging from Pounds to Euros. Finally, intraday cutoff times no longer apply!

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Having said the above, perhaps the volume and time restrictions have been good for me and many others. They served as some kind of barrier. Who knows, maybe I would have gone all in at $3 Steem rather than at $1.7 when I got most of my Steem. Yes, at the current prices, over 50% has been wiped out of my Steem investments, which is scary, but perfectly fine. It’s crypto and you have to have a long term view.

Of course it all could go to zero, but that’s highly unlikely. With all the development going on in the Crypto/Blockchain arena, the technology is about to go the way of the website where everyone needs it, wants it or has it. Crypto is going mainstream big time, and Steem is at the forefront of it all!

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Disclaimer: I'm not a legal or financial expert of any kind. Please do not take anything I say as advice, but rather the musings of a blogger.

Peace and Love ✌🏿
Adé

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