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2024-06-30 11:34:23

Terence Eden’s Blog on Nostr: **The complexity is the attraction - reflections on trying to use crypto** ...

**The complexity is the attraction - reflections on trying to use crypto**
https://shkspr.mobi/blog/2024/06/the-complexity-is-the-attraction-reflections-on-trying-to-use-crypto/

A few weeks ago, someone wanted to send me some crypto. After spending [months studying for a Blockchain exam](https://shkspr.mobi/blog/tag/certified-blockchain-professional/ ), I usually avoid such things. But, hey, $20 is $20.

So I signed up for a wallet, installed an extension, verified my credentials, saved a seed phrase, and - without too much technical fuss - had some crypto transferred to my account.

So far, so good. Compared to a traditional financial institution it had some advantages - there were no KYC checks or ID verification requirements. But the disadvantages were obvious - I had to install a different app on my phone and link it to my computer. The UI for the app and extension were awful. A huge amount of technical jargon was thrown my way - and there were dozens of technical pages to read through all stuffed with yet more jargon, memes, and insider jokes.

It felt sloppy and unprofessional. But, hey, $20 is $20.

Then I tried to withdraw the crypto into something useful. You know, money that I can use to buy goods and services. This, it turned out, was impossible.

I had to install a *different* extension. Then I had to decide which bridge to use. I popped into [Discord chat](https://shkspr.mobi/blog/2023/07/discord-is-not-documentation/ ) and said "Hey! I'm new! Which bridge should I use?"

The answer won't surprise anyone who has dealt with cryptocoins.

"[DYOR!](https://coinmarketcap.com/academy/article/what-does-dyor-mean )"

Here's the thing - I don't *want* to do any research. When I want to change money with Wise.com, I just click a button and the cash is converted.

One of the classic web design books is literally called "[Don't Make Me Think](https://amzn.to/45CWjXG )!" People are busy and tired and stressed and confused and just want their damned money.

I asked again "How do I judge which site is safe and which service I should use?"

The responses were filled with technical jargon, links to 3rd party sites, a list of acronyms, and assumed a huge amount of pre-existing knowledge. When I said "I've only just got started - how do I withdraw money?" I was told to watch a 3 hour YouTube video and / or install yet another extension.

That's when it struck me.

Cryptocurrencies are perfect for people who want to *feel* smart.

Some people like learning. That's great! But rather that learn something useful, they create ever more complex systems. They become the gatekeepers of rarefied knowledge. A lore so vast and tangled that they can smugly laugh at the smoothbrains who just don't get it. [HFSP!!](https://www.coingecko.com/learn/hfsp-in-crypto )

Right now, in the UK, I can send £0.01 to anyone for free. The transfer is instant. But, more importantly, it is *simple*. I don't need to learn anything. My friend sends me their account details, I click a button, paste their info, hit a button, and done.

I don't need to know how the underlying infrastructure works. I don't need to understand how the global financial system works. But, with crypto, I need to understand staking, gas fees, bridges, offramps, DeFi, and a dozen other things. This is stupid. It makes insiders feel smart because their have embraced the self-created complexity, and allows them to feel smug that normal people aren't as smart. That's it. That's why some people love crypto.

PayPal solved crypto's fundamental usability problems *decades* ago. Click here to send money to an email address. Done.

Fifteen years of cryptocurrencies and the usability is still dreadful. Why? Because the people running it are *addicted* to complexity.

https://shkspr.mobi/blog/2024/06/the-complexity-is-the-attraction-reflections-on-trying-to-use-crypto/

#bitcoin #blockchain #crypto
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