Apart from trading where else to use crypto? - page 12.

olumyd

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Quote from: khaled0111 on October 03, 2018, 07:51:37 PM

Why do you buy something you can't use and that doesn't have any real value.
All these projects have one goal: to take your money then dissapear.

The truth is, even if we do know that they'll end up taking our money and poof, still, we can't stop patronizing them. The illusion of buying a lambo, buying our dream houses and living the American dream will keep us pursuing those alt projects with practically no use and throwing away hard-earned mined BTC, ETH or USD. What we've become are crypto junkies.

frowsiter

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For now it looks like we are out of options. Because there is no inter and intra-connected protocols or infrastructure throughout the world which can help us perform the smooth actions of using the crypto currencies. I am not talking about the exchanges, trading or investment which is we are doing currently through the public ledger no matter what. I am talking about use of crypto for different public services, lets say transportation payment, paying at the malls, stores, government salaries etc etc. This sounds pretty impossible right now but however that is what really expected from the crypto by this time which we lack really.
It looks like we dont have any ways to invest in crypto yet.

leexhin

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There are some token that could be used in their online shop if I am correct.
And some shops already accept crypto as a payment and also some ICO or token could be used in their platform for example if their project is mining you could use their token to mine some crypto.

celtic99

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Quite a few shops in my city have started to accept cryptocurrency. We are slowly gaining mass adoption but we still have a long way to go for it to be a global thing.

mrcash02

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I have already seen games ICOs which you could use the tokens later inside the game to buy stuff, maybe membership, benefits, etc... But on the practice I don't know if it worked. The goal of many ICOs look interesting, but most of them fail.

Your idea of "tokenizing" products already exist, but not with Crypto-Currency. Aliexpress has this feature, you collect coins daily and exchange these coins later for a product or for a discount. To implement Crypto-Currency on it would be interesting, but I'm not sure if it would work, as they would be giving free money to customers this way... Because if these tokens were a Crypto-Currency they could be exchanged into another currencies, so not necessarily used to buy a product inside the shop.

khaled0111

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Why do you buy something you can't use and that doesn't have any real value.
All these projects have one goal: to take your money then dissapear.

samycoin

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There's so many ways to do in crypto not only trading we can use crypto to buy anything we want or to use it as payment that accept cryptocurreny as a payment.

olumyd

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Quote from: RodeoX on October 03, 2018, 01:25:35 PM

For me bitcoin is money. I use it whenever I need to spend money. So your question could be phrased as "What can you do with money?" As far as ICOs and alt-coins... Those are scams. So an ICO is used to get your money. That is what it is for and once you have them they generally have no value.

I like your straightforward thinking. But I don't think the idea of having decentralized applications and a utility token to run their platform is an utter mistake. However, what's likely to be a mistake is that these ICOs have shifted their focus from building a useful technology to building a trading instrument which in every case has a horrifying ripple effect on the whole crypto-digital ecosystem.

Bitcoin should remain as payment crypto or a store of value. Ethereum and other dApp developers should seek to create useful and usable applications. They should all stop fooling around thinking their token will become the next bitcoin, that ship has sailed already and now the spotlight should be more on the blockchain industry - this is still a phenomenon with a diverse potential.

RodeoX

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For me bitcoin is money. I use it whenever I need to spend money. So your question could be phrased as "What can you do with money?" As far as ICOs and alt-coins... Those are scams. So an ICO is used to get your money. That is what it is for and once you have them they generally have no value.

kryptqnick

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Quote from: olumyd on October 02, 2018, 06:56:14 PM

More than 90% of ICOs (still a wide margin) lack pure utility aside from trading values. Among freelancers, people may trade one crypto for another, but in a brick and mortar business scenario, crypto has little to no impact.
I think we need more radical real world businesses tokenizing their products and using this 'tokenization' as a means to garner support for mainstream crypto adoption. Like rewarding people loyalties for using their products.

Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes?

I share the same point of view. I also think that it's not a very good thing that most of ICOs are just raising money, but the token is not really needed in their project. They launch it just for fun, hoping it will grow in price as people trade it. At the same time, adoption of cryptos as payment methods is taking a lot of time and occuring rather slow. Moreover, as we saw the market's high volatility, it is understandable why solid companies are not willing take the risks. That's why I was rather skeptical about ICOs before I was hired by one that is trying to contribute to adoption of payments in cryptos in the field of real estate and car sales.

troganhorseyo

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Quote from: ridiculous_A1 on October 03, 2018, 09:19:50 AM

Quote from: olumyd on October 02, 2018, 06:56:14 PM

More than 90% of ICOs (still a wide margin) lack pure utility aside from trading values. Among freelancers, people may trade one crypto for another, but in a brick and mortar business scenario, crypto has little to no impact. For example if I walk into a store I could get the credit card and a few other payment options. Still, with the over abundance of crypto technologies and their native tokens, only a handful of stores have barcodes for bitcoin and a few other payment coin types.

I think we need more radical real world businesses tokenizing their products and using this 'tokenization' as a means to garner support for mainstream crypto adoption. Like rewarding people loyalties for using their products.

Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes?

The advent of the blockchain industry has paved the way for an effective global digital economy which surpasses geographical boundaries, however, the erratic nature of the crypto market has caused more panic than necessary resulting in a stunted growth in mainstream adoption. I think it will take more time before we see real businesses adopt cryptocurrencies as a payment option.

So I read this thread and found it quite interesting and went ahead to do some research. I discovered that companies like Walmart, CheapAir and some Universities e.g. University of Nicosa, Cumbria University accept cryptocurrencies (Bitcoin) as a form of payment.

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Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes?

More so, in the hospitality industry, Hooch for example is expanding their reward program by introducing the Tapcoin project which is a way to incentivize consumers/customers with a 10% rebate, while others like TUI Swap, ZoomAway among others in the same niche are beginning to embrace blockchain. So IMO, its only a matter of time before other traditional companies in various sectors begin to adopt blockchain technology and cryptocurrencies for payment in mainstream.

PurpleTulle

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Quote

One good usage of bitcoin is to store value and that's pretty much it.

A mode of storage that depends on the whims of the market, how safe and sustainable can that be? Adoption is the only sustainable future for the blockchain, and if we don't find places where the blockchain is applicable in our everyday life, we may never see that future.

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I think Walmart, Maersk, Hooch and a number of others are doing something in that area. You gotta love Hooch though. I mean, spend on a 60% off base price and get 10% back, with free drinks too. What more could you ask from a rewards program!

This sounds like an everyday application of Crypto in real world. I'd check it out though!

proTECH77

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Quote from: olumyd on October 02, 2018, 06:56:14 PM

I think we need more radical real world businesses tokenizing their products and using this 'tokenization' as a means to garner support for mainstream crypto adoption. Like rewarding people loyalties for using their products.

Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes?

Some days ago Ripple CEO announces 3[three] companies which are now using Ripple as a means of payment https://www.coindesk.com/ripple-event-reveal-3-companies-are-now-using-xrp-for-real-payments/, so, ripple is almost there.

willramis

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There are a few good uses for cryptos such as substitute for fiat currencies; also due to its almost immutable blockchain there is a possibility to store documents and have cryptographic messaging, not to be said about more advanced Dapps that can provide newer advantages in financial, medical, VR, shipping and many other industries.

dothebeats

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I can't really suggest using it for shopping and such since there really isn't a single place for you to spend it to your heart's content. One good usage of bitcoin is to store value and that's pretty much it. Basically what we need now are places to spend but due to the lack of merchants wanting to accept bitcoins as-is, we're in a situation wherein we can only use it for speculative and safekeeping purposes. While there are payment processors and concierges available to cater your needs, it's still better to use bitcoin directly rather than rely on a third-party provider.

Jerryzack2

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Quote from: sober4now on October 03, 2018, 10:14:02 AM

Quote from: nicster551 on October 03, 2018, 07:14:57 AM

Quote from: olumyd on October 02, 2018, 06:56:14 PM

More than 90% of ICOs (still a wide margin) lack pure utility aside from trading values. Among freelancers, people may trade one crypto for another, but in a brick and mortar business scenario, crypto has little to no impact. For example if I walk into a store I could get the credit card and a few other payment options. Still, with the over abundance of crypto technologies and their native tokens, only a handful of stores have barcodes for bitcoin and a few other payment coin types.

I think we need more radical real world businesses tokenizing their products and using this 'tokenization' as a means to garner support for mainstream crypto adoption. Like rewarding people loyalties for using their products.

Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes?

From here in the philippines, we can use crypto for paying our bills like our electricity bills and for anything that are part of the system. I think not far from now Bitcoin will be paying anything in the Philippines.

Since projects like MFCHAIN, PUNDI-X, UTRUST and some other unnamed payment systems makeup 1.9% of the commerce and advertising section of ICOs (based on funds collected i.e crowdfunding), I am wondering why only bitcoin is used for payment in the Phillipines. It seems we are still far away from adoption. Just thinking, although I forgot to add DASH (my ex) to my list considering it's a legacy blockchain. But really you guys should check out MFCHAIN, it could be a rivalry payment system as it does not require a hardware, making it easy to use by merchants.

I have been following Mfchain and pundi X among projects aiming at bringing mass crypto adoption, after reading their whitepaper I see mfchain having a better prospect. Instead of trying to tonkenize mainstream businesses, the crypto projects and ICOs should focus on bringing real value to people by solving everyday problems thereby, giving people genuine reasons to used cryptocurrency.

BrewMaster

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Quote from: olumyd on October 02, 2018, 06:56:14 PM

I think we need more radical real world businesses tokenizing their products and using this 'tokenization' as a means to garner support for mainstream crypto adoption. Like rewarding people loyalties for using their products.

why do we need that?
and more importantly what would a "real world business" gain by tokenizing their product?
i honestly can not see the benefit in that apart from small failing businesses being able to use the hype of the cryptocurrencies in form of an ICO to raise a lot of money and cover their asses!

h0lybyte

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Just wait, bitcoin is still being introduced to the rest of world however if you see lots of shopping portals have already begun accepting bitcoin as their paymemt method and recently one of the major porn website anounced bitcoin as a primary pay method

jerome.345

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I think because of how little much is known about blockchain and cryptocurrencies, - at least in my part of the world- what I see as the way forward for mainstream cryptoadoption is having projects that run on blockchain and allow users to make use of the platform without really having any idea of how it works. Even though a number of projects out there are adopting this method, it's still something that isn't so widespread yet.
Another method for adoption is when already existing platforms or markets employ the blockchain. I think Walmart, Maersk, Hooch and a number of others are doing something in that area. You gotta love Hooch though. I mean, spend on a 60% off base price and get 10% back, with free drinks too. What more could you ask from a rewards program!

sober4now

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Quote from: nicster551 on October 03, 2018, 07:14:57 AM

Quote from: olumyd on October 02, 2018, 06:56:14 PM

More than 90% of ICOs (still a wide margin) lack pure utility aside from trading values. Among freelancers, people may trade one crypto for another, but in a brick and mortar business scenario, crypto has little to no impact. For example if I walk into a store I could get the credit card and a few other payment options. Still, with the over abundance of crypto technologies and their native tokens, only a handful of stores have barcodes for bitcoin and a few other payment coin types.

I think we need more radical real world businesses tokenizing their products and using this 'tokenization' as a means to garner support for mainstream crypto adoption. Like rewarding people loyalties for using their products.

Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes?

From here in the philippines, we can use crypto for paying our bills like our electricity bills and for anything that are part of the system. I think not far from now Bitcoin will be paying anything in the Philippines.

Since projects like MFCHAIN, PUNDI-X, UTRUST and some other unnamed payment systems makeup 1.9% of the commerce and advertising section of ICOs (based on funds collected i.e crowdfunding), I am wondering why only bitcoin is used for payment in the Phillipines. It seems we are still far away from adoption. Just thinking, although I forgot to add DASH (my ex) to my list considering it's a legacy blockchain. But really you guys should check out MFCHAIN, it could be a rivalry payment system as it does not require a hardware, making it easy to use by merchants.

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