Topic: Are all cryptocurrencies destined to be store of value in the end? - page 2. (Read 1567 times)

I don't believe that's true.  Think about the USD for example, and think about keeping cash hidden under your mattress--if you don't spend those dollars, inflation will eat away the value.  Cash/currency is not meant to be a store of value.  It's meant to be spent.  

Cryptocurrency is different, as it's kind of a hybrid of cash and precious metals, and given how volatile bitcoin is I don't see it as a great store of value right now.  It's more of a speculative asset that could be used as a currency if you wanted to spend it.

A store of value is supposed to keep up with inflation, though I'm not an economist and this is just how I would define what that phrase "store of value" means.  And hey, bitcoin isn't even 10 years old yet so it could very well be its fate.  Somehow I don't think people will be satisfied if it doesn't go to the moon, however.  Part of the appeal of crypto is the chance of gaining a lot of value very quickly.  If crypto in general ever gets as stale as the precious metals market, watch out.  People will be much less enthusiastic about buying crypto if there's no money to be made.

I completely agree with this.  I'm just waiting for the day when people wake up and realize that there are way too many coins on the market and most of them have no use whatsoever.

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 believe that the current idea of using cryptocurrencies as a long-term investment instrument has been wrong, and instead of leading to an increase in value this could harm the market in the medium term, because no one would be willing to invest too much in something that does not has a practical use.

In fact, I also believe that this will lead in the long term to the fact that most of the market capitalization will be concentrated in a few cryptocurrencies, because if all of them serve in the same way, it would not make much sense to invest in many altcoins, especially taking into account the strong influence of bitcoin in all of them, which will allow bitcoin to continue to strengthen as the most preferred safe haven in this market.

Yes, competition is there among many crypto coins which are currently of different values so it is wrong and may not possible to come on same stage or position. There is clear difference among all the crypto coins in terms of features and functions so all cannot go together and they will be on different positions just like their current positions. May be some crypto coins get failed in future but crypto is the future especially the Bitcoin.

During the period. price growth of the crypto currency can be used primarily as a repository of value, which brings profit. However, the time will come when the price growth will stop, the crypto currency can not constantly grow in price. This also applies to bitcoin. However, then, even when using crypto currency only as a means of payment, it will still serve as a means of accumulating value, although not in such a quality as before. After all, even for its use as a means of payment, we will have to keep certain amounts in the crypto currency in our wallets.

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.

I am agree with your opinion. Bitcoin designed as peer to peer payment and as store of value. But right now many different kind token and coin with different purpose.
Bitcoin or others can be a payment option if government regulation allow it. In several country, regulation already allow it and i am believe crypto like bitcoin will be currency and able use for payment in merchant

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.

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.

there will be different cryptocurrency and token utility. A Cryptocurrency is always cope with sucessfully money on the internet or digital currency in the world and im still believe to be used by many people for an internet transaction and utility tokens like we can to purchase a service for the company. That's my opinion.

I think that’s what it’s going to be at the end. And there is nothing bad about that, though the difference with Bitcoin and Gold is that it will continue to be highly volatile even at that time (likely to be), so it’s still going to be the same way it is now, whenever the demand for it increases, the price will also be increasing with it and when there is lesser demand, price will fall to a lower price. So if you’re expecting anything more than that, then I think you’re wrong, cause this is how its going to be.

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.

Crypto currencies are being used as a store of value right now. I know it is a sad truth but this does not mean that it will never be used as a currency. Just give it more time. As more people starts to know about it, more people will adopt its usage. Do keep in mind that cryptocurrencies are still a new thing. It hasn't even been a decade since bitcoin was created. And you are actually wrong about no one accepting it as a currency. Many online stores and even some physical stores accept bitcoin.

This is what is expected, if the government accepts or adopts cryptocurrency then crypto will definitely be another alternative as a tool for payment and companies can make tokens as transactions on their products etc. If this happens I'm sure bitcoin will not be obsolete in the future, because after all I feel if the government enters crypto, then the future of crypto will be better with its value even though there will still be manipulations etc., but at least crypto will or has a protected legal umbrella.

Crypto currency is still in it's early stage of development and many people are still building and test their blockchain platforms, though there has been an increased of people accepting bitcoin and other coins as a form payment but the number is still low, In the future crypto currencies will fulfill the purpose which they are created for.

Because of the many crypto currency that are launching and competing with each other in the the market cap, then I could say that not all cryptocurrency are destined to be a store of value in the end, some could become a stable coin and others might be failling kind of coin in the future.

I haven't seen the fall in the crypto market. If that stage occurs, we can, of course, understand where the final value lies.

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.

Even if it is a currency, it does not stop it from being a store of value as generally this is what currencies should be all about. However, monopolies, manipulations, control by the government with terrible monetary and economy policies has really affected so many things over the years, that fiat has even become a way to lose value of what you have been holding over time and you would wish you never did. Cryptocurrency in the long term has proven to be a better store of value and I believe as time goes on, it will keep thriving.

start by building merchants or online stores that pay for crypto tokens singly and this is good for crypto development, or also payment for services for the services they do in the form of certain coins that can later be converted to fiat or paypal