Modern Economic Nonsense — Time to reinvent cryptocurrencies

By xuanling11 | Crypto Learning | 5 Jul 2022


Join BitDAO to earn a $BIT token here

Cryptocurrencies have been popular but also problematic. Banks and other financial institutions have been reticent to engage with them, while the general public has not grasped their underlying value proposition. They need to be reinvented from the ground up to solve these issues. We can start with three essentials: tech, adoption, and trust. It’s true that technology plays a central role in cryptocurrency adoption. But only if it’s applied in ways that are user-friendly and make sense for people who don’t understand it yet. With digital currencies gaining more traction each day, now is the time to reimagine them in order for them to reach mass adoption. These are three important considerations when thinking of how to reinvent cryptocurrencies. Let’s explore what they mean and why doing so is necessary for their future success.


Tech reimagining

Cryptocurrencies have proven to be an invaluable way of transferring value. It’s an efficient way to send money online, and it has a decentralized infrastructure that makes it hard to disrupt. But above all, it’s a way of using “crypto” that can boost security, transparency and trust. And yet, what we’ve seen is how central banks, retailers and other financial institutions have failed to adopt it. This has led to the phenomenon of “crypto fatigue” among the general public. The bare truth is that most people are still not accustomed to the concept of digital currencies. It’s time to reimagine the way that transactions work, and there are plenty of ways that can happen.


Adoption reimagining

There is a widespread misconception that cryptocurrencies are only meant as investments. While they can certainly be used as such, they can also be a way to transfer value and make everyday purchases. Every financial institution is looking for ways to make transactions safer, faster and more efficient. This can happen with cryptocurrencies. One big challenge is convincing the general public that they can use them for daily purchases, such as groceries or dining out. People need to see that cryptocurrencies are more than just investments. However, this isn’t an insurmountable obstacle. Simply using a cryptocurrency as an intermediary in daily transactions can help to gain people’s trust. If a cryptocurrency addresses one of the issues with how we currently use money — like the long transaction time — then it would be even more convincing. And the best part is, this solves the adoption challenge for both businesses and customers, as the latter don’t need to learn a new system.


Trust reimagining

Let’s face it: digital currencies have had a rocky journey so far. From regulatory uncertainty to hacking and scams, they’ve been surrounded by uncertainty. And yet, that’s also what has made them so exciting. It’s what’s spurred them to grow and attract an ever-increasing number of participants. But the fact remains that cryptocurrencies have often flown in the face of trust. And this is what has held them back. The more that people in everyday life use digital currencies, the less likely they are to be victim of fraud. People need to see that they can trust these services, just like they can trust financial institutions. One way to reimagine trust is by boosting user experience. For example, in centralized services, you may have to wait for a long time for your transaction to go through. With cryptocurrencies, however, it’s instant. This means that you don’t have to sit in a queue and wait for your money to be transferred. It also means that you can do business online without having to wait in an offline queue. This also means that cryptocurrencies can be more seamless than traditional methods. Take, for example, the current headache of traveling and payments. You may have cards that aren’t accepted, or the transaction cost too much. Cryptocurrencies can be a solution. You can load your virtual currency wallet with money before your trip and pay for any purchases without hassle.



The future of cryptocurrencies is bright. They are a safe and efficient way for people to transfer money all around the world. But to reach mass adoption, it’s crucial that they are reimagined from the ground up. This can happen in many ways, from boosting user experience to developing new use cases and reimagining what it means to trust in these systems.


Reminder: I am not your financial advisor. 


Buy me a coffee here if you want to support my writings.

Note: the post was shared on multiple platforms here.

You can refer my previous article lists here and here
2022 Prediction
2022 Prediction #1: L1 Scalability
2022 Prediction #2: L2 Bridges
2022 Prediction #3: Zero-Knowledge Proofs or ZKPs
2022 Prediction #4: Regulated Defi On-Chain KYC
2022 Prediction #5: Institutional Crypto Adoption
2022 Prediction #6: Defi Insurance
2022 Prediction #7: NFTs-Based Communities - DAO 1.5
2022 Prediction #8: Metaverse and NFTs
2022 Prediction #9: Web2 Companies’ FOMO
2022 Prediction #10: Time for DAO 2.0
DAO The Way
DAO The Way Part 1
DAO The Way Part 2
DAO The Way Part 3
DAO The Way Part 4
DAO The Way Part 5
DAO The Way Part 6
DAO The Way Part 7
DAO The Way Part 8
DAO The Way Part 9
DAO The Way Part 10
DAO The Way Part 11
DAO The Way Part 12
DAO The Way Part 13
Learn How To Defi
Learn How To Defi Part 1
Learn How To Defi Part 2
Learn How To Defi Part 3
Learn How To Defi Part 4
Learn How To Defi Part 5
Crypto Comics
Crypto Comics
Crypto Comics - PoW
Crypto Comics - Who is Satoshi
Crypto Comics - What is Token
Crypto Comics - What is DeFi
Crypto Comics - What is Wallet
Crypto Comics - What is HODL
Crypto Comics - What is Coinbase
Crypto Comics - What is PoS
Crypto Comics - What is DAO
Crypto Comics - What is A Block
Crypto Comics - What is NFT
Crypto Comics - What is Fork
Crypto Comics - What is Web3
Crypto Comics - What is DeFi-2
Crypto Comics - What is Yearn Finance
Crypto Comics - What is Degen
Crypto Comics - What is Aping
Crypto Comics - What is Cold Wallet
Crypto Comics - What is Hot Wallet
Crypto Comics - What is Airdrop
Crypto Comics - What is DYOR
Crypto Comics - What is 65537
Crypto Comics - What is RC4
Crypto Comics - What is WAGMI
Crypto Comics - What is Bagholder
Crypto Comics - What is Decentralization
Crypto Comics - What is Wallet Address
Crypto Comics - What is Plagiarism in Web3
Crypto Comics - What is Bart Pattern
Crypto Comics - What is Encryption
Crypto Comics - What is Consensus
Crypto Comics - What is Protocol
Crypto Comics - What is Stablecoin
Crypto Comics - What is ApeCoin
Crypto Comics - What is FOMO
Crypto Comics - What is Tokenomics
Crypto Comics - What is APR
Crypto Comics - What is to The Moon
Learn Web3 in 100 Days
Learn Web3 in 100 Days - #1 What is the Internet and How Relevant to Web3
Learn Web3 in 100 Days - Day 2: What are the Browsers and Servers
Learn Web3 in 100 Days - Day 3: What are HTTP Status Code
Learn Web3 in 100 Days - Day 4: HTML and CSS and JS
Learn Web3 in 100 Days - Day 5: What is programming
Learn Web3 in 100 Days - Day 6: Markup, Elements, Tags, and Hyperlinks
Learn Web3 in 100 Days - Day 7: Style Your Web
Learn Web3 in 100 Days - Day 8: JS
Learn Web3 in 100 Days - Day 9: SQL
Learn Web3 in 100 Days - Day 10: Front-End
Learn Web3 in 100 Days - Day 11: Front-End Framework
Learn Web3 in 100 Days - Day 12: More HTML
Modern Economic Nonsense
Modern Economic Nonsense - Inflation and Incentives
Modern Economical Nonsense - The Astrologist's Way
Modern Economical Nonsense - The VUCA World
Modern Economical Nonsense - Zug Tax and How to Run your Own Monopoly
Modern Economical Nonsense - Participatory Economy
Modern Economical Nonsense - Economic Models
Modern Economical Nonsense - Tokenomic Models
Modern Economical Nonsense - Design A Reputation-Based System
Modern Economical Nonsense — The Money Problem
Modern Economical Nonsense — The Treasury Problem
Modern Economic Nonsense — Bitcoin vs. Real Estate
Modern Economic Nonsense — A very long term view
Modern Economic Nonsense — Banking Collapse
Modern Economic Nonsense — A Wall Street Legend
Modern Economic Nonsense — A Modern Alchemy
Modern Economic Nonsense — Founder goes ghosting
Modern Economic Nonsense — Anonymous cool or fool
Modern Economic Nonsense — The market volatility
Modern Economic Nonsense — The money shortage
Modern Economic Nonsense — The web3 scams or not
Modern Economic Nonsense — All about debts
Modern Economic Nonsense — Metaverse is still relevant or not
Modern Economic Nonsense — A Show of Recession
Modern Economic Nonsense — A Myth of Valuation
Modern Economic Nonsense — Inflation becomes irrelevant
Modern Economic Nonsense — A journey of money laundering
Modern Economic Nonsense — Consumer Sentiment Might Be Low
Modern Economic Nonsense — Is payment technology still relevant in high inflation environment
Modern Economic Nonsense — Recession is coming
Modern Economic Nonsense — We are at the bear market, now what
Modern Economic Nonsense — Invest like a cat
Modern Economic Nonsense — Bitcoin leads the market recovery
Modern Economic Nonsense — The dollar is dying slowly
Modern Economic Nonsense — The current stock market wants to go back to 2019 but ignore the technological solution of the future
Modern Economic Nonsense — Today's fear, tomorrow's cheer
Modern Economic Nonsense — An engineering recession
Modern Economic Nonsense — The market is broadening rug pull everyone
Modern Economic Nonsense — The self-fulfilling recession
Modern Economic Nonsense — Crypto is changing the advertisement business
Modern Economic Nonsense — Blockchain phone
Modern Economic Nonsense — Next generation of wealth
Modern Economic Nonsense — Crypto winter prolonged with high inflation persists
Modern Economic Nonsense — The era of currency debasement
Modern Economic Nonsense — What if the Fed gets inflation all wrong
Modern Economic Nonsense — The Bitcoin apocalypse is coming
Modern Economic Nonsense — The Bitcoin reserve is coming
Modern Economic Nonsense — Payment apps move away from the fiat currency
Modern Economic Nonsense — Web3 continues building despite the bear market
Modern Economic Nonsense — Banks are seeking shelter in cryptocurrencies
Modern Economic Nonsense — Inclusive blockchain
Yearn Finance Comic
Yearn Finance Comic - Part 1
Yearn Finance Comic - Part 2
Yearn Finance Comic - Part 3
Yearn Finance Comic - Part 4
Yearn Finance Comic — Part 5
Yearn Finance Comic - Part 6
Curated Lists
Curated Lists - Web3 Culture
Curated Lists - Crypto-enabled Communities
Curated Lists - Crypto Philosophy
Defi 101
Defi 101 - Part 1
Defi 101 — Part 2
Thoughts about VC and PleasrDAO x BitDAO
The Crypto Market has Changed
The Myth of Inflation Hedge
The Myth of Stablecoin
The Myth of NFT
End of the Crypto Market?
The End of the Stablecoin?
Terra-UST Saga - How to repair the trust when there is no trust built on
How to deal with negative market sentiment
Crypto VC Thoughts
Crypto VC Thoughts: Physical Assets vs Digital Assets
Crypto VC Thoughts: Digital Money Pushes Energy Companies to Innovate
Crypto VC Thoughts: GameFi Dilemma
Crypto VC Thoughts: Credit Oceans
Crypto VC Thoughts: The Death of Terra
Crypto VC Thoughts: Debunk Bitcoin Myths
Crypto VC Thoughts: Defense Crypto Investment Methods
Crypto VC Thoughts: New Type of Stablecoin
Crypto VC Thoughts: Crypto Business Cycle
Crypto VC Thoughts: Crypto Business Cycle 2
Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.

How do you rate this article?




A delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters to write with a freestyle.

Crypto Learning
Crypto Learning

All article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.