Oddbean new post about login | logout You can educate all you want. There is no low friction & easy buy experience.
Cash app pretty easy
Even when I introduce people to Cash App there’s friction. Sometimes it takes a couple of days for them to get verified. Then they delay their first purchase indefinitely. I tell them they can DCA directly from their paycheck with no fees. Still too hard for them to deal with. I check in weeks, months, or even years later and they haven’t gotten off zero yet.
Then they are not motivated enough
Correct. Even after I give them the full explanation of scarcity, halving schedule, show them the CAGR. It doesn’t click.
You’re trying to sell them instead of them selling themselves.
Not really. I’m just trying to plant seeds. I never tell people to buy it. I just show them my reasons. It hasn’t always failed. I have two text threads with a bunch of my former coworkers. One with everyone, and another just for the HODLers and stackers.
The bitcoin experience is exhausting mentally for new users. We just need a different user experience. It feels like you’re getting them to jump over hoops
I don’t think it’s just the user experience. It’s understanding it in the first place.
You have to teach the “why” before the “how.”
people buy stuff they don’t understand all the time if it’s easy enough to do it.
This is money. People don’t randomly buy money.
People in Turkey easily buy gold all the time. People in Argentina readily buy USD all the time.
So they don’t understand gold or USD?
"When dealing with people, remember you are not dealing with creatures of logic, but with creatures of emotion." - Dale Carnegie
So ... this explain that https://image.nostr.build/b8b46c4c945c51f886e798abd3630dc86e407ee77ba6e5ced22462a0a2f0661f.png https://image.nostr.build/8d0ac86dafcb23366a5adf5f00bbb119a102783f3e873de71cd26be7577eb51a.png https://image.nostr.build/72fffcb213bc5944466a5c1fa45498d7f1b42a6234287b08946bbb357fbb8262.png
Cash app: 1) available to 350-700 million out if 8 billion people 2) requires gov ID - billions dont have this 3) requires modern device - billions dont have this 4) requires fiat rails - billions dont have this 5) requires fiat bank account - billions dont have this 6) requires email + pw - extra friction It may be easy for @Karnage Not for most of world.
