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Topic: Are all cryptocurrencies destined to be store of value in the end? (Read 1583 times)

richmcrich
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Are all cryptocurrencies destined to be store of value in the end?
October 13, 2018, 04:31:56 AM
#119
Quote from: squog on October 09, 2018, 10:21:55 PM
I don't think so. I mean crypto currency is young as a means of currencies and it's only backed up by supply and demand so being volatile is really it's weakness. But after maybe a few years we will see a shift in the price of Bitcoin and once we see it stablized people and business owners will line up and adopt BTC.
Cryptocurrency absolutely is still in its very young state and certainly we might be lucky to get to see some good usage in the long run, because as that happens, that is the only way there will be great usefulness for it and would also serve as a store of value.

I guess that was the main idea in the first place actually, as against fiat that has always reduced in value over years, because unnecessary inflations based on the government policies, affect so many people and then we see wealth being distributed among just very few people. All these would change and I believe as we start getting to see usage of cryptocurrency in real life, it would be of great help.
Silberman
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 11, 2018, 11:49:30 AM
#118
Quote from: Finestream on October 03, 2018, 06:55:25 PM
Quote from: Silberman on October 03, 2018, 06:33:02 PM
Only bitcoin and a few other altcoins could become a store of value, the rest of the coins are going to struggle to find a purpose especially since there are many coins that are just copies of other projects, but I do not see this as a problem, gold has been a store of value for thousands of years and it was also the currency of choice for many of those years as well.
I don't think that they will forever be a store of value because once the government realized their potentials and for that they can be a great factor for economic progress,then the government will sure to legalize them and considered already currencies.They may not be a mainstream,but aleast we have already other options aside from using fiat currency.
I don't see why people think that a coin being a store of value and behaving like a currency are somehow impossible to do at the same time, I gave an example in my post about gold and how it has been a store of value and a currency for most of human history, and bitcoin can do the same, it is a store of value and eventually as more people begin to use it it's going to begin to behave more like a currency.
ngano ba
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 11, 2018, 05:19:07 AM
#117
I think not all cryptocurrency will be a storage  of value at the end ,because not all cryptos will survive and become a stable coin , but for those strong coin that has already establish its name in the market ,it can be considered a storage of value in the end .
cluit
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 11, 2018, 04:45:36 AM
#116
Quote from: spongegar on October 07, 2018, 10:13:17 PM
That is true. That is one of the problems of Bitcoin. It is basically a hunk of expensive codes we store in the hopes that it will het expensive soon. Ethereum on the other hand we use all the time. I've seen people exchanging it for internet services among others and even exchanging alt coins to BTC. I'd like us to use crypto currency to buy goods and services like cigarettes.
That does not mean it will still not be used and I believe as time goes on, there would be a lot of avenues in which we will get to see real life usage popping in gradually. It is absolutely something that we would not expect to happen overnight and the main reason why people are seeing it as a value now should not even be the main reason in the first place, and when real life usage kicks in, I am sure a lot of people would see a better value in it in the long run.

Certainly, for Ethereum, we both know the only thing that has really helped it is the fact that it is used as a smart contract platform, but over 90% of the ICOs that have been launched on the platform itself are shitty ones with no real life product as well.
squog
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 09, 2018, 10:21:55 PM
#115
I don't think so. I mean crypto currency is young as a means of currencies and it's only backed up by supply and demand so being volatile is really it's weakness. But after maybe a few years we will see a shift in the price of Bitcoin and once we see it stablized people and business owners will line up and adopt BTC.
sultanGol
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 09, 2018, 03:32:10 PM
#114
Would not say it will always stay as a store of value, but for a long time, it will probably remain the main purpose.
Christopher_Hayes
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 09, 2018, 03:40:46 AM
#113
Quote from: Slava79 on April 18, 2018, 03:09:00 AM

Quote
Are all cryptocurrencies destined to be store of value in the end?

You say it the way like it's a bad thing.  Gold also isn't used for daily transactions, but can we build a phrase like this "Gold destined to be store of value in the end", with this pessimistic tone?

I think cryptocurrencies is just a first wave of the blockchain applications in real life. And in my opinion, blockchain is not "destined to be store of value in the end".

One thing that I think needs to be addressed though is what about the future cryptocurrencies? I don't think we need to worry about Bitcoin, but what about the altcoins and the future coins? Will they even have value in 10 years?
margaret22
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 09, 2018, 03:25:44 AM
#112
It may not happen from one day to another, but I believe we can see later more use cases for cryptocurrencies. Let's not forget, how young crypto is.
spongegar
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 07, 2018, 10:13:17 PM
#111
That is true. That is one of the problems of Bitcoin. It is basically a hunk of expensive codes we store in the hopes that it will het expensive soon. Ethereum on the other hand we use all the time. I've seen people exchanging it for internet services among others and even exchanging alt coins to BTC. I'd like us to use crypto currency to buy goods and services like cigarettes.
Hatuferu
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 06, 2018, 05:48:30 PM
#110
Quote from: reality18 on October 06, 2018, 08:24:16 AM
Quote from: kingkonjac on April 24, 2018, 05:36:06 PM
well in some point I think it will remain like an asset rather than a real world usage, because so many cryptocurrencies are selling just dreams and a good whitepaper by not delivering a real solution to real problems (not every project)
Crypto will continue to remain a currency and commodity rather than a security which others claim it to be. Bitcoin is considered more as an asset due to the store of value it offers when held for sometimes. It has got much potentials to rise up every year due to the increase in its demand each year.
I agree.I think cryptos will remain to be a store of value for the next years until we finally see the government adopt cryptocurrency and that's the time we can use cryptos for payment system.Cryptos are growing continuously along with its potentials so hopefully the government will now open their hearts for cryptocurrency.
Inikoo
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 06, 2018, 11:01:14 AM
#109
I think there is a long way, until we will see cryptocurrencies as a true asset for payment. But we are getting closer to that IMO.
coinplus
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 06, 2018, 10:17:31 AM
#108
Quote from: VEIL-Project on September 30, 2018, 07:45:52 PM
Cryptocurrencies can be designed to be suitable stores of value, with superior security, cost, speed, inflation rates, etc., but for them to actually become stores of value they need high enough adoption to stabilize in value.

Gold and any other global monetary systems in the past didn't pop up overnight. They had to be adopted slowly over decades and sometimes centuries. Given the benefits I think it is only a matter of time before public blockchain cryptocurrencies supplants existing currencies.
We are still in the early age, and I believe adoption is something we will definitely get to see in the long run.

The problem now is that without some good scaling option, merchants coming in to save the day by implementing cryptocurrencies as a means of payment, government regulations being lenient and then bringing a lot of awareness and adoption, we will keep seeing people look at it towards just being an asset, which is why the market is highly speculative at the market. With real life usage, things would change and as we keep seeing it being used as a currency, it would still serve the function of being a store of value.
reality18
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 06, 2018, 08:24:16 AM
#107
Quote from: kingkonjac on April 24, 2018, 05:36:06 PM
well in some point I think it will remain like an asset rather than a real world usage, because so many cryptocurrencies are selling just dreams and a good whitepaper by not delivering a real solution to real problems (not every project)
Crypto will continue to remain a currency and commodity rather than a security which others claim it to be. Bitcoin is considered more as an asset due to the store of value it offers when held for sometimes. It has got much potentials to rise up every year due to the increase in its demand each year.
CelebratingBTC
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 06, 2018, 05:38:17 AM
#106
Quote from: shiroocrypto on April 18, 2018, 02:44:25 AM
So I've been thinking about the use of cryptocurrency in the real world. Because of it's current volatility, nobody seems to be willing to spend any crypto now other than for purposes of ICOs it seems?

Before BTC boomed, we hear the story of the guy spending 10000BTC on 2 pizzas. This was BTC being used in it's intended form.

Currently, BTC is only used as a store of value, which leaves other alts. From what I see in other alts, ethereum is spent on ICOs where the trade is one coin to another type of coin. Other than that, nobody advertises accepting payments in other currencies NOR do people seem to want to spend their cryptocurrencies on anything other than something that yields a profit.

So, the question is really about adoption. How do we expect cryptocurrencies to be adopted as valid payment methods when everyone is really using them as investment stocks? Will we only see proper adoption once the current greed and "quick buck" mentality subsides?

If things continue the way they are, then cryptocurrency will always and forever be destined as store of value assets and not really a currency that can be used in the real world?


Maybe some of them but not all. I don’t Bitcoin will be a store of value, I just believe that it will be an investment. Many say that because Bitcoin has a limit of 21 million that after all the twenty one million BTC is mined that the price will become stable but I don’t think so. Since the price is determined by demand and supply, it will continue to go up and down as people continues to buy and sell it.
efxtrader
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 05, 2018, 07:27:14 AM
#105
I am believe many bussiness and market will evolve because blockchain technology and cryptocurrency not a security. Cryptocurrency is still in early age and i am believe will evolve and change our economic face
fasdorcas
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 05, 2018, 05:15:40 AM
#104
Quote from: Ziskinberg on September 30, 2018, 05:48:58 PM
Quote from: khaled0111 on September 27, 2018, 09:36:21 AM
All projects are in their early stages, teams are looking for partners and improving their platforms.
Each coin has its own function, no coin is ment to be a store of value but most investors are ignorants and have no clue what they are buying, all they care about is how to make fast profit.
Maybe with the current condition that crypto is not yet accepted in the government,people would still prefer to make it as a store of value.But when the government starts to adopt cryptos and legalize them,i know for sure that cryptos will now be utilize properly as a method of payment,and not as an asset or investment.
Even if in the long run we start seeing full adoption and regulation by the government in all the activities revolving round cryptocurrencies, and we get to start seeing real life usage, it still will not remove the attribute of it being a store of value and in fact, this is the time it would even be more of a store of value based on the fact that people see the need to use, there is great demand for it, and the value is bound to increase or be at an equilibrium.

The thing is that some will always see it as an asset even in the vein of it being a method of payment, but at least it is better than everyone focusing on it being a speculative asset.
iMark
sr. member
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 03, 2018, 09:22:10 PM
#103
Quote from: realcrypto on September 27, 2018, 05:17:33 AM
All cryptocurrencies are not just a store of value or destined to be a store of value. I have use cryptocurrency to pay for services and goods severally, though I don't need to mention them here. So you mean some of the cryptocurrency or blockchain related projects are just fairy tale. They will go beyond whitepaper to real life.
Thats right, some of my friends don't even use it as an investment or store of value, they use bitcoin only for currency on gambling
because it helps them to gamble easily in online, not all users are investors right? some users use it for currency
Altf4
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 03, 2018, 08:56:06 PM
#102
Maybe not all cryptocurrencies  are really destined to be a stored of value in the end , because ,I believe the top altcoins and bitcoin are the only coins that can be storage of value from the investors and customers , for they are believing and trusting bitcoin as long term investment in the  cryptoworld .
jamids
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 03, 2018, 06:58:46 PM
#101
Quote from: zeaderza on September 30, 2018, 02:00:34 PM
Bad economy policies, inflation and a lot of bullshit has rubbed off on fiat over the years and that is why a lot of people stopped trusting in the system a long time ago. As long as in the long term, you believe that whatever you are holding is good enough to give you the same value back or more value based on its usage and adoption, then it is a store of value. Unfortunately, this is one thing fiat could not give and then we saw crypto bringing.

Fiat just keeps on deflating in value that's why cryptocurrency is an ideal investment because it can be directly use as a mode of payment and can be an asset too. Although it is very risky, many crypto enthusiasts are still interested in it because of the possibility that it will become big in the future. It is already big now when we look at the total value of the cryptocurrency market but it would become bigger when more people are involved with it. Some would become store of value while others would be use as currency.
Finestream
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Re: Are all cryptocurrencies destined to be store of value in the end?
October 03, 2018, 06:55:25 PM
#100
Quote from: Silberman on October 03, 2018, 06:33:02 PM
Only bitcoin and a few other altcoins could become a store of value, the rest of the coins are going to struggle to find a purpose especially since there are many coins that are just copies of other projects, but I do not see this as a problem, gold has been a store of value for thousands of years and it was also the currency of choice for many of those years as well.
I don't think that they will forever be a store of value because once the government realized their potentials and for that they can be a great factor for economic progress,then the government will sure to legalize them and considered already currencies.They may not be a mainstream,but aleast we have already other options aside from using fiat currency.
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