Post
Topic
Board Altcoin Discussion
Re: coins for the long haul
by
Bigeyeone
on 13/03/2014, 22:18:36 UTC
Really good question, to answer this you would need some reliable information about what coins are actually being used right now as a currency. In the lang haul a crypto currency can only survive if people actually hold them because they know they can buy real goods and services with them for the same price or cheaper then with FIAT.

As far as I know the only one that comes close to being a currency right now is bitcoin, but even bitcoin has got a long way to go to really become a currency that you can directly exchange for all the stuff you need in life. But to me it looks like it is getting there as big online retailers have started to accept bitcoin now.

I can't find any data to compare the success of cryptocurrencies in actual percentage of commercial transaction, so really I dont know, It is problematic that the fundamentals behind the crypto currencies are not know and people are just making guesses basically which one will succeed based on the opinion of peers, cool sounding names or memes etc.

Like here in this forum a lot of coins claim the coin is being used in commerce, some even set up webshops and some even set up illegal black market sites, but whether this is just an attempt to make it look like their currency is going somewhere in order to pump its value or the coin is really being used on some scale that counts is impossible for me to tell.