…and some of reddit’s biggest Bitcoin mistakes
Somewhere between the laggard reporters trying to live a week on Bitcoin in NYC and the crypto ruled dark-web, is a whole subset of technology whose pioneers are desperately fighting to make the blockchain the most convenient and efficient way of completing tasks. From managing inventory and verifying contracts, to the more obvious appeals like investing and currency transfer; the crypto world is a misunderstood group, desperate to make a change for the better.
web_runner
My mistake? Not getting in sooner. I had a chance to start mining during the GPU heyday. But, the moment I read about having to “download a wallet”, “generate an address”, “sync the blockchain”, and find a “mining pool” my eyes just glazed over and my procrastination kicked in.
In the early days, much like the wild-west, we have sad stories of scams, trustless transactions, Bitcoin wallets being tossed out, and 10,000 BTC pizzas… Well I guess it’s not a direct parallel … But the point is that with growth, time, and visionaries who saw a better world; banks in the west got safer. Our technology is at that crux.
homad
I was making my first physical purchase with btc at a brick and mortar silver and bulk food store (capital coin and bullion). it got quazi awkward..they had to call “their bitcoin guy” and i spoke with him…and thankfully it finally went through when i was on the phone with him…. blockchain.info app 4 life (for brick and mortar n such)
Entrepreneurs saw these weaknesses in the system as an opportunity to patch the problems and make the world a better place. The early days were filled with solutions like Mt. Gox, BitPay, and Coinbase. Some failed, some stayed stagnant, and others have continued to evolve with the changing ecosystem.
AstarJoe
[my biggest mistake was] Using gox for my first trade. Using a web based vanity bitcoin address generator that turned out to be a complete scam and stole an entire bitcoin.
Lots of new projects have been started to fill the gaps that the now incumbent solutions ignore. One of the most crucial current issues happens to be exactly the same problem as was solved in December of 1998. In 1995 eBay went live to open up P2P classified ads and shopping to the web. But the clear problem was that you cannot trust sending a check or cash to someone who you have never met and is 3000 miles away. They may never send that Nintendo 64 you saved up for. Paypal came to the rescue in 1998, and made eBay one of the largest marketplaces in the world because of the unique buyer and seller protection it offered.
MonkeyDeathCar
Seeing the price go from $4 to $10 and thinking to myself, “Well there’s no point in buying now. We’ll never see that big a jump again.”Bottom of Form
UTRUST comes into an existing world of online marketplaces, and allows vendors and buyers to seamlessly interchange goods and services with already popular crypto currencies. What is different is that UTRUST offers the same protection that Paypal offers its buyers and sellers, but finally perfected for crypto currency. There are billions of dollars of Bitcoins and Ethereum alone. These holders are looking for a safe and convenient method to spend these, and UTRUST has perfected that platform.
Tfoe1399
Hello everyone. 2 days ago I made this post telling everyone how I made a mistake and sent out 0.50 BTC as a fee instead of $0.50, the transaction was confirmed by BTC.com, I pretty much thought I lost that money and I will never get it back.
The UTRUST network gets exponentially more valuable to our users the more we share and talk about it. So feel free to share UTRUST with your favorite merchants and your fellow crypto nerds. Please feel welcome to be a part of our Pre-ICO & ICO coming up (August 28, 2017 @ 4pm GMT) to secure a part of this project for yourselves as a thank you for your dedication to changing the web and vision of crypto currencies.
And good news for Tfoe1399 (reddit quote above)… he got his ~$460 back because a lot of us crypto people have good hearts and are honestly trying to make a change for the better. And good news for the Wild West… It became Silicon Valley.
Check out our website for more information utrust.io
-Nick Olender
VP of Marketing
