Hello ZEN community,
In this thread, I invite you all to share your experiences with non-crypto or non-blockchain friends.
Why aren’t they on board yet? Why are they afraid to enter this world?
From my side, they mainly say that they “don’t have time to learn” or “don’t have money to invest”. So they don’t understand that crypto and blockchain are not just an investment product.
Of course, when we hear about crypto, it’s mainly around the investment topic. We don’t hear a lot of users saying that they use crypto for freedom or for the philosophical aspects.
What do you think about that? Why don’t your friends enter the crypto world? Please share!
In China, the CN media which is controlled by the CN gov always asks the media to report that crypto is a scam, and lots of people lost money in crypto. the Gov asked them not to invest in crypto, because it’s illegal.
and the other reason is that the whole market has dumped around
-90%, the majority do not like to hold dumping trend assets.
Thank you for this great feedback. Indeed, regulations are very important.
Media prefer to share news related to scams instead of use cases.
There is a lot to fight here
There have been several major fraud cases in Turkey. The most famous of these is the case of the owner of the Thodex exchange disappearing with thousands of Turkish lira, which created a shock effect in the crypto market. As a result, when it comes to cryptocurrencies, Turkish users can be a bit hesitant and prefer to keep a distance. Additionally, from what I have observed, they place more importance on stocks and seem to have a greater fondness for them.
I definitely have a few friends who were involved in Horizen in the past or crypto/developing in blockchain in general - also users from the Wanchain community that will be interested to join in the dao participation as the development on EON becomes more apparent which I know much is going on as we speak
Superb. Tell them to join us here and Discord
Some over here got scared away during the bear market.
As they where introduced to the investment aspect.
Some hearing about all the Terra Luna, FTX saga .
Many do not understand what these new technologies Blockchain , web3, Defi and more is really about .
These is where crypto education is needed to bridge the gap.
Sure. But do you think users and non yet users are interested to know more?
I have the feeling that, sometimes, people don’t want to learn. They like these centralized-although-not-secured third parties. They need it easy.
We see the problem with internet, we give technologies to uneducated users and they get scammed.
But in crypto, you can lose everything even when you are educated. Friends who lost on Terra, Luna, FTX, were educated. But they took too much financial risks.
That’s a lot to learn and a whole new world to embrace. How to make it easy?
One can still know all the Fundamental analysis and Technical analysis and still loose money.
Its not easy to convince people about a new technology that is better than what they’re comfortable with.
Web2 faced similar issue when it came in the early 2000’s , now it has over a billion users, though now monopolised.
I still feel that something like DAO, a little not too harsh regulation that would not tamper on true decentralization can help to reduce the risk by not allowing someone to run with funds. This can build the trust of some people back.
If we want to be frank, the aspect of loosing is what scare people away the most.
Buidling trust will take time.
Many of the influencers in the space are doing more harm than good , all they do is shill Coins and Tokens instead of putting the tech at the forefront.
People wants to know what this new tech can do for them, the the Real world usecases first.
The right Education is pertinent for this, that is why i do encourage people to join communities.
What happened with LUNA, FTX and more, was really tragic but… that’s in the past now. Savvy crypto people have so many opportunities around and the overall knowledge of blockchain is growing. That’s encouraging!
Mining played a big part in getting users onboard with crypto. A lot of people had GPU’s in ther PC that the used for the games which they could switch to mining and see how it works and get into crypto, and maybe start investing from there. Now projects are switching to PoS, or are ASIC mineable. Normies can’t even see how it works because it requires massive amounts of money (ASICS are 3000$+ are loud and spend a lot of electricity) for mining equipment.
Yes, even my friend who lost 1 million with Luna feels better today, although bitter :'D
That’s a very interesting point of view!
We shifted the “everyone can mine and earn money” to “invest and you will earn more money”.
We choose POS over POW although it’s less decentralized, we prefer to sell images instead of patents when we talk about NFTs.
We shifted from geeks to traders. We should shift again!
Absolutely, your points are well-founded. It’s true that having a deep understanding of both Fundamental and Technical analysis doesn’t guarantee success in investing.
People often stick with what they’re familiar with, even if newer technologies are more promising. The comparison to Web2’s early days is apt, and gradual adoption and some regulation can indeed help build trust in decentralized technologies like DAOs.
You’re right that fear of losing money is a significant barrier for many. Building trust in the crypto space will indeed take time. Focusing on education and real-world use cases over shilling tokens is essential for the long-term success of blockchain technology. Encouraging people to join communities where they can learn and discuss is a positive step in the right direction.
I know it’ll take time , I’ve seen the adoption of this new tech grow, so I’m very optimistic.
We are just too early
Crypto and blockchain are still not very friendly for the common users. Managing private keys is really difficult. CEXs drive primary adoption but there are regulatory issues. In some countries, the taxation norm for crypto trading is really ridiculous. An unregulated market has pumps-dumps and ponzis. It makes crypto often a scary investment tool for the newbies.
If blockchain, Crypto , web3 could be as user-friendly as Web2 and centralised platforms we are using now , many people will want to explore.
What ways can we encourage people to jump into crypto/Web3 without emphasizing the investment or speculation angle? What are some fun or useful activities people could do? Now that we have an EVM and smart contracting in Horizen, we should be able to focus on these kinds of things.
Building a web3 social network where everyone can use will really drive more adoption.