I just wrote this article on Medium. I would love to hear your opinion and critique:
Despite all the news about cryptocurrencies, I have yet to meet anyone who actually uses it (of course it’s not something that typically comes up either). I’m wondering if it’s mostly hype over a new, different and confusing thing or whether will become a something people regularly use rely on.
My next-door neighbor owns an investment company. I asked him about cryptocurrencies a couple of months ago and he shrugged his shoulders, rolled his eyes and threw his hands up in the air, as if to say, your guess is as good as mine about its future. That started a 20-minute diatribe from him about investment scams, lack of regulation, people losing money and its eventual potential for disrupting market cycles.
Based on your article, you seem to feel it has a solid, positive future. I don’t know enough about it to have strong feelings one way or the other. It’s still a confusing mystery to me.
When it comes to advertisement, I see plenty of potential. But it might not be with bitcoin.
The biggest problem with bitcoin is the anonymity. It attracts black markets. It’s a PR problem. If you could program the coins to resist the black markets, that solves the PR problem.
IMO, ethereum has more potential if it can solve it’s scaling latency problem. Advertisers need more than numbers exchanged, which is what ethereum provides. But there can always be a newer currency that solves all the problems.
As for customers, they don’t like to be tracked. They don’t mind being sold to as long as it’s a product that they might want, and not random blind SPAM. Customers just don’t want their privacy invaded or their security compromised. The win-win situation is to get crypto currency to track response without tracking responders.