Post
Topic
Board Altcoin Discussion
Re: -CONTRADICTION- ?
by
poornamelessme
on 28/09/2019, 19:20:06 UTC
We all want cryptocurrencies to gain value. But we do not use them as a currency in our daily lives. I think this is a big contradiction. I think we should introduce these currencies to people around us rather than just waiting them to gain value as if there was a magic wand. What do you do to make cryptocurrencies more popular?

But is it a contradiction? It all depends on how you view crypto.

Do you expect BTC to be used as a currency or store of value? If the former, sure, spend it. But you may end up paying the equivalent to 50K for that TV set a year or two for now. And that's why most don't use it as a currency. But as a store of value, sure, it works. It may not deserve the hype or valuation as a store of value as it does, but that is a purpose... it's not like most go to their local store and pay for items using gold or diamonds.

As for other cryptos, one way for them to gain value is serving a purpose other than as a daily currency. BAT token for instance, or coins that work with businesses to create internal blockchains, or reward programs. Or that whole smart contract thing, which is still trying to find a purpose outside of crypto kitties...

Crypto can still work as a currency, but I think it'll only catch on either in 3rd world countries where hyperinflation has destroyed their own fiat currency or if a stablecoin catches on. Most folks don't want to buy something using a currency that can double or triple in value a week later.