The thing that was weird is we were saying a similar type thing after the 2013 / 2014 crash. That the world wasn't ready for that type of currency to be a payment system and how the tech would need to improve. Talks started in early 2014 about the Lightning Network. Four years later I hear people saying the same thing and I just want to puke.
Not much really improved over 4 years and Vatalik actually called that fact out as well at one point. He even said that we had regressed some in certain instances which was true.
You are right that the mass majority of people who go in don't care about this stuff unless the price is pumping hard. Like within a month people were suddenly gone with their heads stuck in the sand. With each boom more people will come and when the tide goes out only the strong will stick around for the next boom.
I think having other streams is important for sure. Unless someone has like $500,000 in crypto and is able to really focus fulltime on earning with this stuff.
I have really neglected my ecommerce business. I'm just burnt out on it to be honest but I need to focus on it and get my numbers back up over there so I don't run myself into the ground with all the crypto stuff.
I don't think it is about the tech. I think people will care about cryptos once our existing financial system becomes unbearable to live in. For example, people in Zimbabwe are paying a premium for Bitcoin over there but it isn't like they are saying "I hope the price of Bitcoin skyrockets so I can sell it for more Zimbabwean Dollars."
I think most people are still fairly comfortable with the existing financial system they can use and buy stuff with that trying to transition to some experimental financial system isn't really appealing to them.
I have sort of went back and forth on that in my own head. I think in a lot of ways that stand to reason that people will use Crypto as an "Exit Strategy" from Fiat when there is hyper inflation of fiat like we see in Venezuela and Zimbabwe but in the same token if we hit a recession in the United States and Canada that is as bad as 2008 then I'm wondering if the digital coins will be one of the first things to go when people can't pay their mortgage. So it is always hard for me to really tell what would happen in a major financial disaster.
We haven't tested that yet because the recession had already started and the stock market crashed in Sept 2008 before Bitcoin was launched so that could be the ultimate test for crypto. Do people flock to it or does it become something that isn't a necessity and they can't afford to hold on to digital coins? It is hard to say.
A severe financial crisis in developed economies would mean they start really bringing down the hammer.