Topic: Apart from trading where else to use crypto? - page 13. (Read 2323 times)

I'm actually very glad you expressed this very skeptical thought openly and honestly, because I don't read a lot of that here unfortunately.  Admittedly, I don't visit the altcoin section often because of how much spam there is there, but when I have browsed there it's been unquestioning hype.

I can see the utility of bitcoin, and I've used it to buy things online.  If a business can't accept credit cards or PayPal for whatever reason, they can always accept bitcoin.  Now, what about the rest of the altcoins that have their own blockchains?  IMO, they're mostly useless in practical terms.  And these tokens that run on ETH?  I have what I consider an outsider's opinion, because my understanding of how those tokens work is abysmal.  What I see are a bunch of scammy projects trying to force "tokenization" on things where it doesn't seem appropriate to do so (in my novice opinion, again). 

I think the ICO market is going to come crashing down eventually precisely because there's no real-world use for these things.  Right now there's just a bunch of speculators trying to buy the next bitcoin--and it's not going to happen.  Once everyone realizes these tokens are useless and worthless, it's game over, just like those worthless internet stocks in the 1990s based on businesses which never had a shot at making a profit.  And I have the same feeling about the fate of most altcoins as well. 

We'll see.  As they say, the market can stay irrational longer than you can stay solvent.  The only way I can see to stay solvent is not to invest in these tokens, and the market for them is extremely irrational to say the least.

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.

Its hard to find any other ways to easily spend your crypto currencies. I have always been looking for such opportunities because now I am really done with the crypto currency earnings. I am literally holding more than enough number of altcoins in my ether wallet and literally some of them I dont even know about. Every coin is worth something ranging from few dollars to couple of thousands. But what to do with them? If I need money then I just trade them with the BTC and later sell them for the fiat. Thats the longest process I always need to follow if I want to use that cold stored money. But thats the worst experience. Things should have been very easy but they aren't in the crypto space.

One of the biggest positives with crypto is worldwide transfers.  Try sending 10 million dollars from a United States bank to a Chinese one.  You will have to fill out a ton of forms, gey questioned, and have to wait  days for the transfer to clear.  With crypto it takes 5 minutes and you don't need anyone's permission.

Here in my country I can freely use crypto as monthly payment for my billings such as Electricity, water, internet, savings, and tuition fee and those altcoins that I can able to use was Bitcoin, Ethereum, Xrp(ripple), and Bch these are the altcoins that being accepted in the exchange we had it here in my place actually.

You are kinda wrong about this approach.We don't need "tokenization"...We need bitcoinization.
No ICO token can gain the amount of trust/authority bitcoin already has.It would take them years to build such trust and authority.

Oh yeah badly have these concerns all the time. I mean I cant imagine myself getting into store and buying everything with the crypto currencies or also popping into any store out there and then getting payment solution in the form of crypto. In my country its rare to find and also it is so abundant here that I will always need to ask the shop owner or till operator that whether he/she will accept the crypto currencies. Most of the times, the answer would be no, I dont know what you talking about, what the hell is that and much more!! So its shameful that how we dont have any properly designated systems for this purpose. I guess with the time this may change but how much time will it take, is the mystery.

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.

mainstream cryptocurrency adoption would indirectly rise along with the development of cryptocurrencies spaces. As cryptocurrencies technologies In general, become mature, the scalability problem has been fixed or improved and the UX design is friendly toward the normal user. It will automatically help the crypto adoption to rise. All we need to so is a patient since cryptocurrency still at early age.

In fact there are many places ( mainly online ), where people can pay with cryptocurrency, but to pay milk and bread in your local store you will need to wait some time. Actually it all depends from country to country, there is places you can pay with crypto by buying coffee, donut or even bread&milk and make haircut maybe. It is important to know we are just at the very beginning in the application of this technology, maybe 1% of world population is using cryptocurrency in one way or another.

Fiat is still main currency, and it will be probably for a long time - big changes do not happen overnight, they may last for decades.

Because of crypto value volatility, business sectors won't risk tokenizing their product. Maybe few decades from now when adoption rate will reach 100% and when crypto values achieve stability, I bet that's the right time for some businesses to make use of the technology at the highest level possible. Don't worry we are moving forward to that moment in time that everything we purchase will be tokenized and hoping that it would give positive impact to both consumers and merchants.

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?