Post
Topic
Board Altcoin Discussion
Re: Coins with daily usability
by
TheUltraElite
on 28/06/2022, 15:02:48 UTC
Given that Bitcoin is considered a store of value, can you use a cryptocurrency that can guarantee day-to-day usability? How to go to bakeries, fill up the car, travel, etc? Do you know any coins like this?
This is exactly what many altcoins tried to do in the first few years of their inception. However things took a different turn which smashed their optimism. You see, you need merchants accepting an altcoin as payment for that dedicated service. Or they have to start a new chain of services under a name in order to sell their products or services in exchange of that token. Starting this from scratch is a whole different ballgame. Most companies who were raising capital in the first years of ICO craze wanted to do this but after understanding the reality they stepped back and changed their vision to something less daunting eventually dying out.

Such ventures will take time and a lot of investment from the owners to compete with the existing market leaders. Hence it is difficult for a niche group to start this. But maybe in future we will see more adoption in crypto and gradually commonly known merchants will be accepting bitcoin, altcoins and their own specific token as well.