Can someone explain the utility of creditbit.
Thanks
I'm no expert, but its fast, regularly, deposited and confirmed, before I close email confirmation from exchanges. That will help in adoption as almost instant transactions are what its going to take to be used by more people and business. Wallet is good and developers are active.
CRBIT struggles with the same problem that all altcoins have. What do I use it for? Until someone comes up with a situation where you can only purchase something with CRBIT or CRBIT needs to be used, it will be difficult to spur adoption. As people really need to want to use it. Sure people can speculate on it, but speculation really is only good for pump and dump, and not real value.
For BTC originally this was done (unfortuantely) with drugs and Silk road. People could only purchase their drugs through silk road if they had BTC, so people had to get it. Thus adoption happened. Because of this being so successful people started asking what else can I buy with my BTC? Silk road was shut down, but a lot of people had it and it worked well enough, so its become what we have today.
What will be CRBIT's silk road? (it doesn't need to be drugs or anything like that) but what will be the service that makes people go, hey I have to get CRBIT to use this, so I will. The technological superiority is one thing, but its not enough to really drive people to use it.
I second this post, Bitcoin has its network effect, Litecoin has "the oldest altcoin" crown (which is slowly losing its effect), Ethereum is a platform that acts as a decentralized computer, Dash/Monero are working on their anonymous features... and Creditbit also needs a purpose in order to get the mass adoption needed.
There are some altcoins out there that don't have 20% of the infrastructure that Creditbit has, yet they are more valued and more traded than Creditbit. This is one of the things that I never got about Crypto, John Maynard once said
"The Market Can Remain Irrational Longer Than You Can Remain Solvent", and I see and experience this everyday, if the markets would rationally act to common sense and fundamentals, I would be a millionaire already.
What I am trying to say is that we are happily maintaining the Creditbit repos, but we can't meet all people's expectations, It is up to the community now, you are the value of Creditbit.