So I've been thinking about the use of cryptocurrency in the real world. Because of it's current volatility, nobody seems to be willing to spend any crypto now other than for purposes of ICOs it seems?
Before BTC boomed, we hear the story of the guy spending 10000BTC on 2 pizzas. This was BTC being used in it's intended form.
Currently, BTC is only used as a store of value, which leaves other alts. From what I see in other alts, ethereum is spent on ICOs where the trade is one coin to another type of coin. Other than that, nobody advertises accepting payments in other currencies NOR do people seem to want to spend their cryptocurrencies on anything other than something that yields a profit.
So, the question is really about adoption. How do we expect cryptocurrencies to be adopted as valid payment methods when everyone is really using them as investment stocks? Will we only see proper adoption once the current greed and "quick buck" mentality subsides?
If things continue the way they are, then cryptocurrency will always and forever be destined as store of value assets and not really a currency that can be used in the real world?
I think thats what its going to be at the end. And there is nothing bad about that, though the difference with Bitcoin and Gold is that it will continue to be highly volatile even at that time (likely to be), so its still going to be the same way it is now, whenever the demand for it increases, the price will also be increasing with it and when there is lesser demand, price will fall to a lower price. So if youre expecting anything more than that, then I think youre wrong, cause this is how its going to be.