Thread by @CremeDeLaCrypto

Just published

“Coming Soon: The Biggest Crypto On-Ramps Ever”

tl;dr in thread below

medium.com/@Bitcom21/comi…

1/ We tend to think that the biggest potential catalysts will have three primary ingredients:
- A link between crypto and where capital resides today

- A familiar form factor to minimize adoption friction

- A highly engaged international user-base

2/ we think we’re about to witness the emergence of the biggest crypto on-ramps that have ever been established.

3/ Specifically, the two trends we’re watching are fiat coins (“crypto USD”) and social media networks (e.g. Facebook’s secretive project). In short, fiat coins bring the capital link and familiar form factor while social media giants bring their vast, highly engaged user-bases.

4/ Yes, fiat coins are the crypto equivalent of “putting magazines on the internet”, still they’re useful in that they provide a familiar, unintimidating form factor. They’re a gateway drug to going full crypto

5/ & while providing a direct link to capital and a familiar form factor is helpful, users need a reason to adopt and jump over to the crypto world

6/ A scaled userbase would go a long way to accomplishing this — once the majority of your network is onboard, there’s greater utility in the ability to quickly zap money around

7/ Social media behemoths are catalyzing this shift today: Facebook, Telegram, Kakao, and Signal (to name a few) are all introducing their user-bases to crypto. This sets the stage for massive growth in the number of crypto users.

8/ Still, even if we assume a unique user-base of 1.5 billion across projects currently in progress (or rumored to be), it would only take a 7% adoption rate to more than double the number of crypto users over the next couple years.

9/ Ultimately, I’d expect established global networks like Bitcoin and Ethereum to benefit substantially from these new onramps.

10/ Bitcoin & the crypto ecosystem have a strong value prop that will continue to attract users over time regardless of whether large tech or financial companies catalyze adoption but it’s hard to imagine anything that will be as additive to ST adoption as these projects

11/ In the end, the outlook is bright: Greater adoption means more financial freedom for all users — something we can all get onboard with.