The latest document coming from the Stellar Development Fund suggests crypto is entering the mainstream. The author finds this claim noteworthy, given he doesn't completely agree, so a preview of the claims might offer some new insight.
Inarguably, the market did grow from its previous level in 2020 to about 3 trillion dollars in 2021. The author remembers many tokens sitting at prices much greater than those at the present moment, so this fact isn't in question.
In short, there are 5 myths that the Stellar Organization contests.
The 5 Myths
- Crypto is out of the norm
- Only millennial males use crypto
- Crypto is purely for speculation
- Crypto's only for the rich
- If everyone knew about crypto, they'd all be using it
Speaking candidly, I definitely believe crypto's out of the norm. My friend's mention the memes and the shortcomings often, but none of them commit any more attention.
I could see the demographic -men tend to appear at many events I attend, but I find this to be largely divisive comments for the sake of narratives. No one's mentioning how many black people are in crypto, right? It's largely irrelevant, without a larger context.
I contest that crypto is purely for speculation, because well, the stock market's existed for years. If speculators truly wish, they would speculate on any and every thing. Many of my same friends all wager on whether their team will win by 1 or more points.
Crypto's only for the rich. That's funny, because here I am, not rich. Enriched, yes. Actually rich with money? Far from it.
If everyone knew about crypto, they'd use it... is a slippery slope I wouldn't even say about most things. I know about cars, but don't drive. My parents swear they don't need Uber, but use my siblings and I to hail rides. I've seen plenty people disavow their cell phones too. Choice still remains the people's right- and I've seen many a person choose their own negligence, myself included.
The 5 Truths
- Crypto's reached the mainstream
- Crypto's grown up- women and older adults use it
- Crypto's becoming more popular to send money b/w countries
- Crypto provides meaningful value in emerging markets
- People are aware, but volatility and security are concerns
Most curious to know is, where do the knowledgeable (the author refers to readers on the HIVE platform) stand on these assumptions?
Perhaps, the vision to use HIVE to support cheeseburger purchases is... small in scope. Certainly, the platform could be used to support photography sessions while informing the fashion-focused to participate and empower themselves.
Security and volatility prove to be valid concerns, thus, education could center on addressing these matters.
How many people have one password for every platform? Of those same, do they use password managers?
The largest fear remains that while they might embrace it- these doesn't exist at which people might truly participate. Then again, the only thing to fear is fear itself, as a wise man once said.
Tongue-in-cheek, the author hopes that crypto is, in fact, for the rich, as employment at clothing stores doesn't align entirely with his passions.
Find access to the document here.Join the conversation below