Topic: Are all cryptocurrencies destined to be store of value in the end? - page 3. (Read 1583 times)
September 24, 2018, 01:30:23 AM
If there is a fast cryptocurrency with a convenient open interface, which will be accepted by most governments, then such currency can be used as a payment currency. For the rest of the crypto-currencies, a place will be designated as an asset of technological development
September 10, 2018, 10:02:08 AM
The OP seems to think that acting as a store of value is not part of money and that the use that were giving to it is mistaken, but that is not true, one of the characteristics of money is to be a store value, what happens is that people have forgotten about this aspe ct because for all their lives they have used fiat, which is not a store value and will never be, what you are seeing is money being used as intended, right now there is no point in spending are bitcoin when we can obtain great profits thanks to the fiat system once that's over you will see bitcoin being used to buy stuff.
September 10, 2018, 08:20:27 AM
I think right now many kind of cryptocurrency. Some crypto used for bussiness purpose like ethereum or NEO and some crypto used for currency like bitcoin or XVG. Bitcoin have more advantages because the price always increasing, most investor use is as store of value.
August 28, 2018, 01:19:54 PM
this could be a possibility later if crypto can be a medium of exchange to buy daily items. on the other hand crypto is a real different commodity, just like gold and stocks.
we must be sure that crypto will be back to normal again
we must be sure that crypto will be back to normal again
August 28, 2018, 12:44:58 PM
Bitcoin /Cryptocurreny will still continue to be what it was meant to be in spite of how some think it should be . It is peer-to-peer payment network and also deflationary currency otherwise it wouldn't have the fixed supply.
If you ask me which virtual currency I'd rather use for online payments and as Store of Value I would choose Bitcoin 100% . Only problem is that cryptocurreny is not widely adopted by Merchants.
Lest I forget, I noticed that people spend Bitcoin more in bullish market than in bearish market. We should put this into consideration.
If you ask me which virtual currency I'd rather use for online payments and as Store of Value I would choose Bitcoin 100% . Only problem is that cryptocurreny is not widely adopted by Merchants.
Lest I forget, I noticed that people spend Bitcoin more in bullish market than in bearish market. We should put this into consideration.
August 28, 2018, 12:16:21 PM
Yes.Its the bitter truth and we have to accept that crypto currencies are used just as high ROI giving assets and not as currencies for what they were created especially bitcoin.
August 28, 2018, 10:33:17 AM
I would not intend to store value on any coin except bitcoin, most other tokens are utility tokens definetely not for store of value.
August 28, 2018, 09:18:48 AM
No way... there are alts to be stored and there some to be dumped.
Sorry to say those... bu in reality not all alts are worth to hold.
Come on guys they have different projects and potentials.
Sorry to say those... bu in reality not all alts are worth to hold.
Come on guys they have different projects and potentials.
August 28, 2018, 09:04:33 AM
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no one holds altcoins for years, most people only hold altcoins for a few weeks or months and then sell them in the market so it's obvious that such a coin cannot be a store of value.
no one holds altcoins for years, most people only hold altcoins for a few weeks or months and then sell them in the market so it's obvious that such a coin cannot be a store of value.
That fits to recent icos token as their project isn't sustainable for long term but other altcoins that already established are the one worth holding.
As long as the volatility runs the cryptos it won't be a currency that it tends to be, IMO. It will be a store value because people are trusting yet have their desire that it will grow significantly though uncertainty is there.
As we know volatility is the greatest hindrance in embracing bitcoin because of the risk that the value will decrease and just few merchants have the proper awareness about it. Likewise, not being a currency is the basis for not acquiring a mass adoption, some aspects can be reconsider tho.
August 24, 2018, 07:34:22 PM
Many differernt function crypto in market. There is utility token and cryptocurrency coin. Every coin and token have different function and not all crypto in market are currency. Many utility token having similiar project and function but i am believe competition will make one of them survive
August 24, 2018, 05:43:05 PM
I agree with you.Most of the people nowadays are keeping their coins because they cannot spend it in the real world to buy for their basic needs.They must convert it to fiat before buying all those things they need.That's why even myself treated crypto coins as more on an investment rather than a currency.
With the price of Bitcoin increasing per time, that will be common that a lot of investors will be doing this. There are still a lot of countries that do not want to accept Bitcoin as a currency.
Bitcoin has no value of it's own, that means you still need to convert it or sell it to fiat in order to know your profit. Also, there are a lot of platforms that accepted Bitcoin as a payment but while the time passes, they stop accepting Bitcoin to their users since it is not great. The price of Bitcoin is quickly changing and the fees are also a problem. Bitcoin is a great investment not a currency.
August 24, 2018, 05:29:45 PM
Bitcoin as a digital money an alternative currency for our fiat money although is a store of value but is already being practiced as a currency. It represents all other cryptos as currency so whatever the purposes of altcoins so be it. Anyways, some might be worthless in the long run especially if it doesn't have any other purpose like Bitcoin and Ethereum. We just need to encourage and educate other people about bitcoin its real purpose and let them jump in this crypto world and helps promote bitcoin as a currency and minimize or stop using it as an asset.
August 24, 2018, 04:50:04 PM
Well mostly people look at crypto as an asset. The purpose of satoshi's bitcoin is for it to be sent to other countries with lesser fees. Because bitcoin has increased in price unimaginably, the fees increase along with it. Well if there will be a program of not getting any fees sending out minimal amount to a store then it would've been used by many people.
It has not been that much time for this world to know about the idea of the crypto currencies and that most of the people are still unaware of the correct usage and the significance of the crypto currencies. for now, most of the people are only buying different crypto coins as a mode of investing of their money and that they are not using their crypto coins in buying of different things and are only keeping them as their assets.
August 24, 2018, 03:38:45 PM
Of course not, because according to what has been observed over the past few years, it seems that the main utility of cryptocurrencies would be as an efficient payment system that as a store of value or currency, despite that the confused investors of today think differently.
May 05, 2018, 02:25:42 AM
Not all people keep bitcoin so it reaches the final price. Many people fear that bitcoin prices are falling. They hurry to sell cheap to take back their capital. Few bitcoin to the last minute. Normally, prices are high.
May 05, 2018, 02:00:22 AM
Crypto currency is still poorly used as a means of payment, that is, as ordinary money, because infrastructure is still poorly developed for their use as money. So far, very few retail outlets and service industries directly accept crypto currency for payment as ordinary money. If such an opportunity increases, then as a method of payment it will be applied more often. After all, the crypto currency was not created as a means of storing value, its main purpose is to use it as money. Because of its limited use as a means of payment and the expectation that it will grow in value, as long as it is used more as a repository of value.
May 05, 2018, 01:37:28 AM
With time everything about bitcoin and cryptocurrencies are going to take shape. We need this fluctuations in price and people using bitcoin as a store of value to make it popular. Adoption is going to happen when bitcoin can be stabilize. I find out that many gaming companies that used bitcoin as a mode of payment has to change their mind because of how volatile bitcoin was.
Bitcoin is still unknown to majority of world population. Only a small percentage of people are aware of bitcoin and not all of them are actually into this business. Many just ignore it due to whatsoever reason. Such new concepts of technology are hard to understand for a common person with no IT background or interest. But the fame and support for bitcoin as well as altcoins has increased over years. 
May 04, 2018, 03:02:04 AM
It's possible, and I say this from the point of view of governmental regulations. One of the things countries associate themselves with apart from their respective names and geographical location is their respective currency names. This is doesn't have effect entirely worldwide - for instance the Euro block were several countries use a single currency. With crypto, different currencies are created by different projects or individuals (and not governments) thus, I see it very difficult for privately made currencies to be a mainstream spending asset for everyday transnational purposes. As a result of the point of view, crypto will be better of as a store value just like the way, gold, diamonds etc are at the moment.
May 04, 2018, 02:45:41 AM
Not all I think there are very much useful tokens still and although you can store value to it it will continue to be useful and will be bought for its purpose. XRP I think will be useful for banks, BNB and he likes will be useful for the traders and there are lots more. Utility tokens will be used for its purpose and one that I can think of is the DENT token too.
May 04, 2018, 02:40:42 AM
Well mostly people look at crypto as an asset. The purpose of satoshi's bitcoin is for it to be sent to other countries with lesser fees. Because bitcoin has increased in price unimaginably, the fees increase along with it. Well if there will be a program of not getting any fees sending out minimal amount to a store then it would've been used by many people.
It has not been that much time for this world to know about the idea of the crypto currencies and that most of the people are still unaware of the correct usage and the significance of the crypto currencies. for now, most of the people are only buying different crypto coins as a mode of investing of their money and that they are not using their crypto coins in buying of different things and are only keeping them as their assets.Jump to: