My One Big Problem With Cryptocurrencies...

in #ethereum • 7 years ago

     Here's my beef with crypto--you have to forfeit almost all of your personal info. SSID, address, bank account, full name etc. I have yet to find an easy way in which does not require one of these. Many may say that “Banks and other establishments require it, so so why worry?”, except for the fact that many physical establishments have more reputation. I am not necessarily willing to forfeit information to a group of people on the web, it many end up being violated, without any physical establishments to blame.


     I wish it was easier for people to get in without identifying yourself by only your sensitive information. If anyone knows of a company that does not implement this, I would be interested to know about them.


     Cryptocurrencies unfortunately make it very unappealing to the inexperienced and to the skeptic. I do not think that it will become mainstream until changes are made to this system.

 

     Until this problem is solved, Cryptocurrency may never reach its full potential--so what do you think?



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7 years ago in #ethereum by
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     7 years ago (edited)

    Rather the opposite. One of the big advantages with crypto currencies is that it does not matter who you are, it only matters what crypto keys you hold. On the blockchain, nobody knows you're a fridge - and all until we hit the capacity ceiling, I thought Bitcoin would be the natural way for children to buy things online (I think it really sucks that my son needs me to pay whenever he wants to buy something online).

    As I see it, the only time you need to "forfeit almost all of your personal info" is when converting to and from fiat through some regulated exchange. However, there are always going to be workarounds like bisq, Localethereum.com, liberalcoins.com, localbitcoins.com, localmonero.co, etc.

    But yes, I do see your point ... most of those sites may be rather inaccessible for "the commons".

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     7 years ago 

    Hello, you make a good point. What I will chime in on is this. Everybody wants the best. Blockchain technology is currently the best. As long as blockchain tech is pretty much un-hackable and newly re-inveted for different purposes it is here to stay. In terms of adoption it will only go up from here. Currently nothing can beat it.

    Some sites not all require your SSID and license etc. Others just require an email and some coins. Depends on how what tokens/coins you are trying to buy.

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     7 years ago 

    My only problem with the crypto market is that it didn’t reveal itself sooner to me!
    But I can follow your viewpoint.

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