Personally, i think we’ve done enough when it comes to crypto adoption. I mean i think currently we don’t need to onboard more people into the crypto space at this point. I know the industry is ever-growing and there’s already a solid user base actively participating.
You can't stop it since internet will be in existence. What new people need is just a smart phone because all whatnots to know about bitcoin or cryptocurrency is just there on the internet space
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I got to know this social network ZORA, which i saw on Binance and Bitget that claims to reward users with crypto tokens and honestly, i don’t really understand why a social media network would tokenize it content with the aim of crypto adoption.
It is more of a natural process. Exchanges are not the only outfit that has monitized their platform through getting their own token. Casinos have also been doing that like Betfury (BFG). Tokenization is now a normal process and it is not necessarily done for the sake of bitcoin but for business recognition, identity and growth since bitcoin has come to stay then we should expect other side benefits coming up.
It got me thinking about its reason behind handing out tokens to drive more adoption, especially when the main purpose of that adoption is not really aligned. I’ve noticed the more people we bring into the space, the more diluted it becomes as most of the new users are into crypto to explore memecoins, hoping for quick profits without knowing the risks that come with it. Some don’t even know how to trade to the extent of understanding the ecosystem. They are just here for the hypes.
I don't think businesses are giving away bitcoin but they try to get into the internet space by being creative for their business to grow. It is a competitive atmosphere and business outfit can only survive when they introduce new stuff.
I think instead of pushing adoption through social platforms, it would be better if governments and more institutional investors begin to accept crypto as this will increase market stability and bring in more liquidity. It’s not about growing numbers anymore, we should maintain the quality of the space.
I’m curious though, what is your opinion about this ?
The market is dynamic and not monotonous. If new people don't come in, you may not have the kind of growth that will create volume and volatility for you to also benefit from the aspect of your own involvement in the space. You may be a hodler or trader, you need volatility.