It is important to give a voice to the crypto beginner. When you do this, you get asked questions that you might never expect. This is exactly what we did with our latest guest interview. Jordan Mathews is an entrepreneur, board game designer, and barber. In other words, Jordan is a pretty regular person. This makes him extremely qualified to ask questions that the average person might ask. The reason why we were interested in interview someone like this, is because there are inevitably people out there that approach bitcoin and cryptocurrency from a similar perspective. If we want to have any hope at fuelling the adoption of cryptocurrency, we need to talk to the people who have yet to enter the world of cryptocurrency.
Why Isn't Bitcoin just Business as Usual?
This was a great question asked by Jordan. He was concerned that Bitcoin would morph from being a grass roots movement monetary technology, into just another governmental and corporate tool used to perpetuate the disparity between the wealthy and the poor. In my mind, this is a legitimate concern. Especially because we've seen two large companies purchase insane amounts of bitcoin in the last two months (MicroStrategy and Square). We go quite into this answer in depth in the interview, but I am happy to provide a TLDR for the sake of the article.
TLDR; There are less and less bitcoin on the open market to be purchased. So even if more companies wanted to purchase large amounts of bitcoin, there aren't large amounts of bitcoin on the market for them to purchase. Eventually, companies that want to replace their cash reserves with Bitcoin will not be able to do so, without significantly effecting the price of bitcoin.
Is Bitcoin for the Average Individual?
The other question that Jordan asked that we spent some time answer is whether or not Bitcoin is ready for the average individual. How should they go about conceptualizing the utility of bitcoin. Is it for spending? Saving? Or is it even something the average individual has the ability to fit inside of their conceptual framework of the world. You have to check out the episode if you want to listen to the full discussion, but here is the TLDR.
TLDR; Yes, bitcoin is at a point where the average person has the ability to understand what it is, and why they should care about it. But, its not at a point of general acceptance, where the average individual can go and pay for their groceries with it. Which is fine. The other part of that conversation, is whether or not that is a good use of bitcoin in the first place. Right now, it is performing as a store of value, and a inflation protection mechanism, there is not that much need to spend your bitcoin, so much as use it to save value over time.
The Go Full Crypto Vision
We want to help people opt-into the world of cryptocurrency, one dollar at a time. In order to do this, people must need a reason. They need their own "why" behind discarding their government currency for the world currency of the future. Go Full Crypto is putting out content to help people discover the reason why they want to get involved in cryptocurrency.
If you like our content, and want to see us produce more, consider donating to our podcast. We are ad-free and would like to keep it that way.
BTC - 1H3mLLktD8hhaZCKfVKrgF2fRSYYbnsptC
ETH/ERC20 - 0x7E51bd8BBb9B85A477F3244a29290E2F579A2bAa
Check out Go Full Crypto on YouTube