The Top 10 Reasons People Can’t See The Crypto Light
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On June 29th, 2017, I saw the Crypto light. It was a religious experience. It felt like I could see the future, a future in which Crypto was the biggest thing to happen in the history of humanity. I had the luxury of stopping everything else I was doing, and focusing 100% of my time on Crypto. I started feverishly writing about Crypto to better understand what was going on (e.g. Five More Thoughts on Crypto After Another Five Months Down The Rabbit Hole).
I’ve had countless conversations trying to help others understand Crypto. Yet only a tiny percentage of people I’ve tried to help, have ended up seeing the light. As a result, I’ve concluded that you can’t show people the Crypto light. Everyone has to see the light via their own path, through the unique prism through which they view life.
I appreciate it’s hard to see the Crypto light. I looked at Crypto for a year in 2013/2014. I looked hard enough that the WSJ wrote a story on Bitcoin calling me Wall Street’s Bitcoin expert. But I didn’t see the light. I didn’t do the work. I wasn’t curious enough. My mind wasn’t open enough.
Here are the 10 biggest reasons that people still struggle to see the Crypto light:
1. Crypto Is Still So Complicated
Crypto is the densest thing I’ve tried to understand. It’s brand new, so even the nomenclature used to describe Crypto isn’t fully formed. Decentralization is a new concept, let alone proof of work, proof of stake, or mining.
I address the complexity in two ways. The first way is how I got people to learn craps. When people say craps is too complex to learn, I ask them to look at the people at a craps table and ask them if they feel as smart as the average person around the table. Even though craps is complicated, all the people around the table figured it out. Craps isn’t rocket science. Neither is Crypto.
The second way I address the complexity is to tell people that while it’s hard work to learn about Crypto, the payoff is…