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?
Maybe some of them but not all. I dont Bitcoin will be a store of value, I just believe that it will be an investment. Many say that because Bitcoin has a limit of 21 million that after all the twenty one million BTC is mined that the price will become stable but I dont think so. Since the price is determined by demand and supply, it will continue to go up and down as people continues to buy and sell it.