CMV: The steep learning curve an average joe must climb to get bitcoin from an exchange to a cold storage device creates friction, scares some away, induces anxiety, and overall is a disservice to all BTC owners.

This is not a rant. I post with the hope to learn and start a productive discussion. My background is business and finance. I trade options regularly and have for a few years. Not a brag. I just thought buying BTC for some sweet HODL action until I retire many years from now would not be difficult. After many a google search, article reading, youtubing, etc. I find myself at GDAX buying BTC with a Trezor on the way. I'm in now and will keep buying in. After this experience though, I'm really disappointed. I understand crypto is an elegant technology that is secure because of the redundancies and complexities built into it. However, I found the whole process unfriendly to potential new users. The neogenesis of jargon seems circlejerkish. I personally enjoy it, it's a fun new world, but I'd gladly have it done away with where possible to encourage more people to buy in. The way exchanges operate is dissimilar to others. The steps from buying to really owning are not self-evident. I find this ironic and hypocritical in what I believe is the attempt to subvert the power of established financial institutions and national currencies. Bottom line, the easier it is to buy and hold the more people buy in. Is this not what we want? As with any store of value, the more the merrier, bc buying is a signal of value that influences others to recognize that value. In other words, when stonks go up it's because more people are buying in and holding. We don't want that to be difficult.

Submitted November 21, 2020 at 09:26PM by jacobolobo7 https://ift.tt/3lSwWtd