Unfiltered

5 Emotional Stages to Understanding Crypto

I am pretty sure most of you will agree when I say we have seen A LOT of change, like monumental level of change. And I for one was never easy with the idea of change.

Exhibit A- How in the world am I going to text in a phone without buttons?!? I am perfectly good using my funky Motorola flip phone, no iPhone for me thank you very much. 

Exhibit B- Instagram?? Don’t we already have Facebook for that?

Exhibit C- Snapchat? What even?

The list goes on.

But, like everyone I did eventually succumbed. I am now an iPhone holder, active on Facebook, Instagram and Snapchat, and seriously have a hard time imagining my life without them. Fast forward to the inception of cryptocurrency, I find myself back up the spiral of resisting it. And here are the five emotional stages to understanding and eventually accepting cryptos.

Denial

You don’t know crypto and most importantly you don’t even want to know crypto. You don’t think it is worth your precious time so you blatantly ignore it, convincing yourself that it is just a fad and millennials are into just about anything that is new and digital. Sure you understand that crypto could likely kill the bank that bugs you with their plans. But that 1 minute YouTube video that you watched reluctantly, was enough to convince you that the crypto life is not for you. This change is not for you.

Skepticism

Or as I like to call it the ‘So what?’ phase. Crypto is digital currency. So what? The world is all online anyway. Crypto is not backed by a central bank? So what? You are way too comfortable with your online banking account, which by the way took quite some time to understand. But hey, at least it saves you from communicating with the bank staff. Besides Your Cold Play tickets were purchased on a centralized system and those arrived just fine.

Curiosity

Crypto is EVERYWHERE! You are slightly convinced that it is going to take over the world, maybe, maybe not in a bad way. But the point is, everyone is talking about it. Your friends own crypto, the people you work with talk about cryptos, even your local coffee shop has started excepting cryptos. Like you cant even get your morning coffee without the mention of cryptos. The peer pressure gets the best of you and gets you curious. And it turns out you actually have so many questions about the existing system. Why do banks charge so much to wire money? You’ve never actually given one thought to how banks actually send money. So you do some blockchain research. P.S. In this case curiosity didn’t kill the cat.

The excitement, confusion loop

So now you’ve read up on some articles here and there and you kinda know the buzzwords thrown around in the cryptoverse. Blockchain, ledger, Bitcoin, Satoshi. You think you finally get it, after watching three videos on how it is the next revolution. Just when you think you could teach a class on cryptos, it dawns on you, that you don’t quite really understand what this means for the future. Like how will this be incorporated in to every system?!

Clarity

After digging deeper, it hits you like a ton of bricks, or blocks. *Pun intended*. You now understand its potential. This is so much bigger than just sending money. This has the power to revolutionize our lives, as we know it and not just businesses and banks but also our education system, the dating scene, the music scene and so on. There is really no coming back from this point. It is now that you have fully accepted blockchain in all its glory.

So which stage are you at?

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Abeer Anwaar

Abeer holds a Bachelors degree in Media studies and covers blockchain startups for BlockPublisher. An optimist, excels in the art of the written word and swears by the joy of all things sweet. Email: abeer@blockpublisher.com or contact the editor at editor.startups@blockpublisher.com

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