Why Mark Cuban was wrong to say Bitcoin is “too complicated to go mainstream”
Although the Mark Cuban story is old-ish news now (TLDR: last week he claimed that Bitcoin was “ too complicated to go mainstream”), we’re sharing our views on it to show why you shouldn’t take celebrity comments at face value.
For Mark Cuban to say that Bitcoin is “too complicated” is naive and short sighted.
We hear you asking why…
Technology is complicated in general and this isn’t specific to Bitcoin — you only have to think about the internet and how complicated that seemed to people in the ’90s.
Using your dial-up modem to attempt to connect to your ISP was just 1 piece of the experience back in the ’90s, but these days most people’s phones are connected 24/7 and they don’t even have to do anything, it just works.
This hasn’t happened overnight and behind the scenes it hasn’t become any simpler. What’s happened is that user experience has become better, with companies having competed to make its use cases as simple as possible.
Netflix vs Blockbuster is a good example of what the internet has done for user experience, but certainly this didn’t happen overnight.
What’s the moral of the story here?
The message is this —New industries take time to develop and become fully accessible to mainstream audiences.
Bitcoin will only be celebrating its 11th birthday later this month (!) and as time goes by, it will naturally continue to grow and reach more people globally.
Ultimately, it’s important to recognise that nothing “mainstream” is built overnight. Everyone in the Bitcoin community understands that there’s progress to be made — and we’re all excited to see what the future brings.
What’s CoinCorner doing to help the industry?
Our team spends a great amount time trying to educate people and create products that are as simple possible. Of course, this will evolve over time as we find what works best for people and Bitcoin’s use cases.
Later this year we’ll actually be launching new educational products which we believe will help the general public to easily learn about Bitcoin and see it as something more than a store of wealth. Look out for our upcoming announcements for more details!
Finally, Mark shouldn’t be disregarding something because it’s complicated behind the scenes. We appreciate that the user experience part of Bitcoin isn’t quite ready for mainstream adoption, but this is something that Bitcoin companies like ourselves are working on.
Bitcoin is “too complicated to go mainstream” — https://decrypt.co/9940/mark-cuban-bitcoin-too-complicated-to-go-mainstream