If we want Chia to succeed, user experience has to be number 1 priority

By following along with crypto for a few years, one thesis I’ve formed is that almost every single coin suffers from ridiculous user experience issues.

Here’s a good example: https://reddit.com/r/CryptoCurrency/comments/muu4fb/_/gv82rjb/?context=1

Edit2: I did some more research since getting so much questions and moon are built on xDai and are swappable on app.honeymoon.org under the name ‘XMOON’.
You first need to connect a Web3 wallet such as MetaMask/TrustWallet and add the xDai network. Then you can swap it to another currency(i.e XDAI). You then need to use a bridge to send the currency to an exchange to be able to trade it back for BTC/ETH/USDT.
The reason for all those steps is because those use a different blockchain than BTC/ETH(with cheaper fees for transactions). Most of it is not as complicated as it sounds, google is your friend!

The harsh reality: this is all as complicated as it sounds. The above is absolute gibberish, and is an example of what is hampering mainstream adoption of crypto as a real currency.

I think Chia is already on the way to making things better with their awesome GUI app for plotting & farming, and am hopeful the currency user experience gets similar treatment.

Anyone else thinking about the UX of Crypto? What would it take for you to truly adopt any of these projects in your daily spending? Have any of you done that yet with any of these coins?

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Hello,

Yes the GUI is good but we need to make one tuto how to plot or what kind of stuff we need. And this for sure we need good communication because i was in some project who was perfect but the leader and management was shit so coin die!

Dude, vc backed crypto projects are on :fire: , like every week there’s a new compelling crypto application/service. This is not pre 2018 bitcoin days, the sketchy crypto project days are numbered. You need to google “Jack Mallers” and “Brian Harrington” these guys are single-handedly pushing crypto mainstream. Jack just recently launched Strike (it’s seamless US dollars to bitcoin in real time) and BTCpay server is making defi banking for business straightforward.

Then there’s Square’s Cash app. If you don’t already have it go download it right now on iOS or Android and buy $5 BTC. The on-ramp to Bitcoin for everyone with a smart phone should be Square. It’s 2 step, sign-up → hit buy! You get super low fees, REAL bitcoin, a bitcoin “hot wallet,” and can send it immediately.

IMHO the user experience that makes the biggest difference is one that crypto projects have no control over; taxes. First, a big disclaimer. This isn’t advice. Treat it like speculation.

In Canada at least, crypto currencies are treated like an investment or, depending on a bunch of complex rules, business income. They actually have an example on canada.ca explaining the rules for dealing with crypto currency fluctuations that occur between purchasing and spending:

Tim found a deal on a living room set at an online vendor that accepts Bitcoin. Tim acquired $3,500 worth of Bitcoin to buy the furniture with. By the time he bought the furniture and converted his remaining Bitcoin back into dollars, the value of Tim’s Bitcoin had increased by $500. The gain realized by Tim was on account of capital, so Tim has to report a $500 capital gain on his income tax return. However, only 50% of that capital gain is taxable.

And I can’t find any mention of an exemption, so I don’t even know how I’d start trying to track gains and losses on every single transaction. I could be wrong about not having an exemption, but I don’t see anything saying so on the linked page and that’s usually where it would be AFAIK. Plus it would probably be an aggregate, so you’d still need to track every transaction.

Imagine going to Starbucks to get a coffee and having to log the current price of Chia and the CAD value of your coffee so you can track your market gain or loss on the transaction.

Edit: Just to be clear, I could be completely wrong about the granularity required and it might be ok to claim your total gains / losses year to year as one big number without keeping track of everything. That example might just be making it sound more granular than it is. I don’t know for sure.

They also talk about realizing gains and losses when converting between crypto currency types on that page. Canada has a superficial loss rule that, while not nearly as penalizing as the American wash rule, still means extra tracking and tax forms at the end of the year.

I’m not a tax professional and the above is based on 30m of reading with my morning coffee today. The conclusion I come to is that, at least for me, as soon as I buy, sell, transfer a single crypto coin I’m going to need an accountant to deal with the tax implications. I don’t think that’s going to bode well for the adoption of any crypto currencies in the context of using them as a day-to-day currency.

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