...but here goes, you bored motherfuckers, back to the 3 problems, in my opinion:
1.
Power consumption
Environmental discussions are only going to get more prevalent as we move forward, whether a person thinks climate change is real or not, it's going to affect the crypto markets somehow unless someone creates a better coin to use less electricity.
It's a contentious issue but I'm not here to argue the points though. I think you get it.
Controversy is controversy either way.
Just remember, the societal hivemind is stronger than you think. Bandwagons are a real phenomenon as evidenced by recent times in all forms, political, racial, Covid, Coon Cheese, you name it...
Everyone hates [celebrity name] until they eventually get cleared of rape, but the damage is done, people as a collective are stupid..
Anyone reading this far is either willing to learn or just waiting for me to flip out, I know that, but herd mentality is also a real phenomenon too and behavioural science knows that. Don't get caught up in it.
At the end of the day, the consumption of power is the main issue, however sometimes greed outweighs the cost of whatever damage it's doing to the environment so the miners don't really give a shit.
Fuck, I just realised that I'm not even an environmentalist, I think I just don't like the massive mining farms in certain countries.
I've never even hugged a tree. Maybe I'm missing out? Meh, better things to do.
Now that I think about about it I didn't even hug my own trees, I'm a fucking asshole.
At least I've still got photos of those kids, before CPS took them away.
Anyway... on to nerd shit.
2.
Storage space (Hard drives)
Sure, the blockchain only takes up ~350GB on your HDD/SSD. That's nothing, you have like, maybe 2TB's you think, heaps of spare space for anything so who gives a shit?
July 2018, 3 years ago, the
blockchain took up half of that space on your computer. Think about what it will be in years to come, at that rate of expansion.
This is very reminiscent of
Moore's Law, however in a different capacity, or context, if you will.
Most people don't think about how much storage their computers have, they just want to turn it on and have it to do what they want, NOW!
...and one day they'll run into a problem they don't understand because of this issue and they can't download any files.
That's a real problem. Not everyone is a 'geek' who has too many TB's.
3.
Network load and it's effect on transaction times.
You know what people want right now? Anything.
That's part of the psychology of the modern person. A lot of the current generation have grown up not waiting for things to load like we old fuckers have. They click a button a couple of times and stuff happens. Tap an icon on their phone and they're instantly crushing candies like a junkie who can't get enough of the endless levels.
People are increasingly becoming impatient these days, they've been subconsciously conditioned to be impatient through a few generations of instant satisfaction. I am guilty of it myself, I know it, but I still can't help being that way sometimes, and neither should you blame yourself either.
Shit, I get a bit irked when Chrome or Firefox takes more than 1 second to open a tab occasionally, and that's 1.. fucking... second... occasionally.
Are you going to stand in a cafe and wait 10 minutes (depending on the level of blockchain traffic) while your coffee is ready, to pay for it with Bitcoin?
That's a bit of a deterrent for the average person if you opened your pitch with that selling point.
20 years ago, maybe not so much (if we had Bitcoin back then).
Sure, that's the median however it's the wait that counts, and the more people get used to not waiting long, they'll start getting angry soon when it takes slightly longer. Again, conditioning.
Whoever is reading this who happens to be under the age of 30, it may sound like I'm just an old man telling stories, but this is science. Tech isn't my only interest, I studied psychology as well at Swinburne because I was mainly interested in how manipulation in various forms permeates our culture and how it's used to sway people for advertising, gambling, video games, cultures, political arenas, and the one thing that is most advantageous to the psychopaths... how they manipulate people too.
Buy more stuff...
Play this new game...
Now click on this purchase pack...
How does someone like David Koresh convince all those people that he's the messiah?
And unfortunately this is going to hit home for some people... but do I even need to mention the poker machine companies? They have Psychs working with them to design new games. I've known software engineers who did work for these companies (reluctantly though, a job's a job when you're desperate).
The point is, instant satisfaction is what people are either used to or getting used to and every new thing has to try to accommodate that because we damn sure aren't going to slow back down.
Anyway, mass adoption for a new cryptocurrency means solving those problems otherwise it's just another copycat with a new shiny outfit.
Grunge music era was awesome but is it really still popular? I love it, but it's not making money for the big dogs anymore. The time has passed and useless cryptos (not all) have come and gone in the same way for good reason. They were hyped and didn't last when the hype was getting a bit tired and they were not cool anymore.
It was a fun ride if you were there for it, wasn't it? Just like riding the crypto rollercoaster of the newest coin, except the Grunge era lasted a lot longer than the next shitty crypto coin that doesn't serve a purpose other than to make the creator rich while everyone else gambles on it. You could get lucky, but you have to sleep sometime and that could be when it starts dropping dramatically.
Know the risks.
Anyway, with all that information it seems that people don't want to wait, and if a new crypto can solve those problems then people will adopt the new 2.0 coin and we'll use it until another problem comes along later.
The world will never run out of problems so at least that's one less thing to worry about.
Lastly for any newbies,
do not keep your crypto in an exchange!! People were warned many times before the MtGox fiasco and they hopefully learned their lesson now but others keep doing it and end up getting burnt. FFS.
Once again, don't make me repeat myself :|
So yeah anyway, that's my experience. Hopefully someone can use what I've learned and benefit from it if they choose to do so, but I'm not telling you to though. It's your life, every day is a school day.
You might think I'm a bit high or mental or something lol, but there's a few people here who know what I'm like and this is a passionate subject because of the technology and potential for crypto to be useful, if done right.
I'm not here to convince anyone though, just give anyone who reads this the facts of my experience.
It was cathartic though. Who brought the peach cobbler? That was nice and tasty.
Daniel's lemonade was shit though, don't invite him to the next get-together.
...will be following with interest 
