I d say most of the hurdles are regulatory. Bitcoin has become digital gold - a place to store large amounts as a hedge and nothing more. Cryptocurrency will not take the place of visa payments because there s no insurance, its slow etc. All the uses where cryptocurrency would shine and visa cannot do (e.g. quick anonymous tips for your comment) are illegal. So we re stuck until either the regulatory framework or national currencies fall apart.
> How do we make Bitcoin/crypto easier for normal people to use?
Pay people with bitcoin. This is #1. People don't have a problem figuring out even complex systems if there 's money involved (And that's a good thing)
> Bitcoin volatility makes transaction really hard.
Not sure if that's really an issue if cryptos were being used daily. They are instantly convertible to other cryptos or stablecoins, therefore the volatility would quickly go down if people used them in real life. People would exchange them for the most stable currencies only, because people don't like to see their coins devalued. We see lots of volatility today because most bitcoin big players got them by sheer luck / being there first so they treat it as casino chips; its not "a hard day's work" earnings.
A major benefit of cryptocurrencies is the inability to chargeback. Obviously this is not desirable in 100% of situations, but it is undeniably a necessary niche. This is something streamers and other public figures constantly have to worry about, since some people find it amusing to donate thousands of dollars and then chargeback months later.
Not sure if the idea that Bitcoin acts as an hedge has much weight considering it’s never been tested in a first world economic downturn; arguably, it has worked in third world countries which face high inflation and have a lack of public confidence in monetary policy. But where is the majority of Bitcoin held, in the former or latter?
I don't get paid in bitcoin. How do I pay people with bitcoin? :)
I think regulation concern is overrated in crypto, at least, with Bitcoin. Crypto complaint about regulation is mainly rooted in libertarian politics. If you are a cryptocurrency and you want to interface with fiat currencies, you need to comply with fiat regulation. KYC is painful but it is necessary. It even helps reduce fraud.
You can't throw your crypto no regulation gauntlet at fiat and demand them to comply to your game. It's crypto wanting to play the fiat game, not the other way around. Currently, there are many ways to on-ramp from fiat to crypto in the US. There's no government interference. If Bitcoin is an asset, Store of Value, you need to be taxed as asset. You can't do both currency and asset thing.
> your crypto no regulation gauntlet at fiat and demand them to comply to your game
you can pay a homeless person with cash. you can pay a street performer with cash. you can gift cash. it's all anonymous no fuss. that's what crypto is, digital cash, not a digital credit card
> How do we make Bitcoin/crypto easier for normal people to use?
Pay people with bitcoin. This is #1. People don't have a problem figuring out even complex systems if there 's money involved (And that's a good thing)
> Bitcoin volatility makes transaction really hard.
Not sure if that's really an issue if cryptos were being used daily. They are instantly convertible to other cryptos or stablecoins, therefore the volatility would quickly go down if people used them in real life. People would exchange them for the most stable currencies only, because people don't like to see their coins devalued. We see lots of volatility today because most bitcoin big players got them by sheer luck / being there first so they treat it as casino chips; its not "a hard day's work" earnings.