the main value proposition of crypto is permissionless peer-to-peer payments.

I think a lot of people, including myself, expected a more user-friendly experience. And what many of us realized is that a peer-to-peer payment system is a lot of work and risk for the user. Everything looks unpolished and sketchy. You don’t know if you’ve installed the right software. There’s no FDIC insuring the money, and the FBI is going to laugh if you say that you accidentally sent your life savings to the wrong crypto address.

I guess what I’m saying is that I started to realize all the labor involved in secure fiat monetary systems. For me, as someone without a lot of money or any real reason to transfer my money electronically beyond paying bills, the effort just didn’t seem worth it.

So, yeah, that’s the reason I just parked my cash in Coinbase and let it grow. The risk and the hassle of actually utilizing a peer-to-peer system didn’t seem to have much of a reward.