Actually you are wrong. Bitcoins purpose, as well as any other cryptos, are for speculation right now. The value comes from speculation (which was pointed out per empty gox). Although no one wants to admit this because the vast majority of people have rose colored glasses on.
Change of topic, we need more Hitler videos. Those were funny!
I don't completely agree with this. There are a couple of things I buy occasionally with BTC, and I mostly keep some BTC around to have cash on hand for those purchases. I don't have some huge stake; I have enough for some basic utility without running to coinbase every time I want to buy something. Sure, most of BTC's value right now comes from speculation, but that's not necessarily unsustainable. The overwhelming majority of gold's value has always come from speculation, and that persists because the basic utility of it being pretty (and now of its use in electronics) acts as a floor.
Garza understood that a coin's use as a store of value must have some basic utility behind it as a foundation. He made some attempts at creating that utility; they just all failed as badly as his attempt to make a stable coin. There's no debit card, his half-assed attempt at building utility around a discount program failed mostly from failing to read TOS, and the discount site he created wasn't automated and required him to manually fill every order (as well as not having any sustainable model). He got the basic point that his coin needed to be used to succeed; he just never successfully executed any of his schemes to get his coin used.
I actually think his idea of leveraging a discount program and a transparent UI to give his coin utility was inspired. He just botched its execution.
must be prepping for his next sec visit.
