The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

CNBC’s Ran NeuNer Nails One of Crypto’s Biggest Flaws

by Daily Hodl Staff
September 9, 2019
in Bitcoin

Ran NeuNer, the host of CNBC’s Crypto Trader, is honing on a big flaw and a big challenge for the cryptocurrency industry: conveyance. In a tweet to his 109,000 followers, NeuNer says that cryptocurrency is hard to explain.

One of the biggest flaws of crypto is that it is so difficult to explain quickly to a lay person. When people ask me to explain Bitcoin to them I know it’s going to take at least an hour before they really understand it.

— Ran NeuNer (@cryptomanran) September 8, 2019

With a world awash in snap chats, slogans, rhymes and 10-word tweets, educators and communicators are tasked with containing crypto to a simple elevator pitch that sticks like glue. In addition to explaining what it is, they need to explain how it works and why anyone should care.

According to Wikipedia, you can boil down the definition of Bitcoin, the world’s most popular cryptocurrency, to a single sentence.

“It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.”

That’s not exactly an elevator pitch. Laced with techie-speak and complex jargon, Bitcoin and its thousands of crypto cousins suffer from a language gap and an acute case of long-windedness. The average lay person has no firm grasp of “decentralization”, “digital currency”, “central banks”, “peer-to-peer networks” or “intermediaries.”

In an effort to define the King Coin with clear language, Investopedia tosses in its pseudonymous creator.

“Bitcoin is a digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified.”

Bitcoin conveyance rapidly descends into explanations akin to folklore. Add other cryptocurrencies into the mix, such as Litecoin, Bitcoin Cash, XRP, Stellar, EOS, BSV, Cardano, Tether, Binance Coin, Monero, Tron, Unus Sed Leo, and the world’s second largest cryptocurrency, Ethereum, which can transfer different types of value in addition to monetary value, and the whole crypto landscape gets quickly populated with battling factions, abstract competitions, multiple deaths and a slew of rises and falls.

Cracking the conveyance code is more than a superficial dream – it’s one of the keys to mainstream adoption.

It may not mean that the lay person absolutely must understand the fundamental technology behind blockchain anymore than the average driver needs to understand the inner workings of their car’s transmission.

But it will require a shiny package of words since there are no sleekly engineered bottles, boxes or cases engineers can use to wrap it up and then shove it onto a supermarket shelf. People have to go out of their way to grasp it and then drive the extra mile to acquire it.

As for a more simplistic definition that strips away cryptocurrency’s revolutionary aspects and eliminates the reasons why it’s a radical break from the current banking system, Bitcoin and crypto are new money.

[the_ad id="42537"] [the_ad id="42536"]
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Poolz Security Incident Prompts Rapid Response and Platform Restructuring
    March 16, 2023
  • Sovryn Introduces Decentralized Bitcoin-Backed Sovryn Dollar To Combat Centralized Stablecoins
    March 16, 2023
  • Partnership Announcement – Oraichain x DoraHacks
    March 16, 2023
  • Wemade Announces Partnership With Space and Time To Power Blockchain and Gaming Services
    March 15, 2023
  • DAO Maker’s Degen Zoo Builds the Abandoned Logan Paul Game in 30 Days
    March 10, 2023
  • New Peer-to-Peer Chat Application Launches on the Decentralized Streamr Network
    March 9, 2023
  • SelfKey Releases AI and ZK-Based Solutions for Safer Digital Verification
    March 9, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$28,251.57
$28,251.57
3.86%
Ethereum
$1,794.92
$1,794.92
0.35%
Cardano
$0.345164
$0.345164
0.81%
XRP
$0.385044
$0.385044
0.45%
Dogecoin
$0.075024
$0.075024
0.4%

Spotlight

  • Ethereum Creator Vitalik Buterin Abruptly Sends 500 ETH to Little-Known DeFi Protocol
    March 13, 2023
  • $110,000,000,000 Bank Seized by Regulators To Send Anti-Crypto Message, Says Former Congressman Barney Frank
    March 15, 2023
  • Silicon Valley Bank’s Parent Firm Files for Bankruptcy As Bitcoin Soars Over 30% in a Week
    March 17, 2023
  • Here’s When Shiba Inu’s Shibarium Beta Testing Will Be Complete, According to Lead Developer
    March 14, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl