Has Crypto Become Boring?
So serious question for the HODL crowd and crypto fanatics out there- has crypto become boring for people?
I got in late to the game, and for the longest time I was a pretty severe crypto skeptic. After starting my first investment into Bitcoin seven months ago, I've had a pretty steep learning curve, and after witnessing the 2017 "crash" it was pretty obvious that some people were jumping into crypto based off the hype and sensationalism, and because they had no clue what they were doing quickly dumped because they didn't understand the volatility.
By now I've expected more integration into existing markets for the general populace but it seems like there are very few ways and places I can spend my crypto on legitimate things.
So is enthusiasm fading? Or am I just not looking in the right place? Any insight with links to good sources would be appreciated.
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The entire premise of Bitcoin was the idea of competing currency. Before, BTC was the competing currency. Now, people sincerely interested in that concept are diversifying to the hundreds of other cryptos and Blockchain platforms. Here you are on Steemit now!
So clearly there’s some value being spread around. It’s not that interest is fading, but it may be spreading out. I‘d add that people who sold out their BTC contributing to the “crash” were mostly people hardly interested to begin with, just speculating.
-Ford
Good points- the thing that I'm loving about Steemit and Ethereum is the smart contracts capability and the additional app building opportunities that I'm seeing. I think the biggest thing that has bugged me are the new coin ICO's that have scammed good intentioned people, but with the history of money there have always been scams so there's nothing really unique in that sense.
Let me say this about this HODL bull crap,
I got into bitcoin because of the dream. The dream was that bitcoin can replace government fiat currency. I spend it regularly on stuff, then I buy more, usually equal amounts that I spent, so I can buy more stuff. I use the websites that accept it.
People today are looking to get rich. If you want to get rich, the ship has sailed. Spend what you have, buy more, the spend that and buy more. Only when businesses see that accepting bitcoin is beneficial, will they decide to accept it. If everyone is HODLing, well we get no one spending, and no one is willing to accept. So spend it!!!!!
I don't think it's become boring, just think the hype has worn off and dumb-money is mostly out. I think it's becoming more diversified with seemingly constant ICOs. This technology is in it's infancy; how long did it take to go from telephones to fax machines to dial up to dsl to wireless?
Also, I think you have to go to the right places to spend your crypto. I know the Freecoast of NH has tons of places that will accept it and any good podcast will accept it.
Have you ever looked at Open Bizarre?