There are two opinions in the crypto world: some people consider cryptocurrencies digital gold, while others believe that cryptocurrencies will be used as means of payment.
The first idea is quite convenient. You can just do nothing. For the first time ever, doing nothing has actually become a heroic deed – people are proud to be hodlers, proud to do nothing with their cryptocurrency. But do you really believe this approach will change the world? Seriously?
Let’s be honest. Real crypto communities – there are few. There are few people who own cryptocurrency. The number is vanishingly small. Crypto prices will not grow while there are so few of us. The demand is just too small and there are no drivers of growth.
So, what should we do? Is there a reason to just sit and wait for cryptocurrencies to grow? I believe there is none. The only possible solution is that people actually start using crypto in their everyday lives. The number of crypto transactions should amount to hundreds of millions a day. Then, and only then, will cryptocurrencies grow in price.
Personally, I see no other options. However, this cannot be handled by one man alone. The whole crypto community should do this. You may ask: is it possible to live paying with cryptocurrencies only? Judging from our experience – yes. Moreover, we have video proof: here is a story of a guy from Scotland
https://www.youtube.com/watch?v=Gb_yVnkHSFs and here is a story of a guy from Thailand
https://www.youtube.com/watch?v=l09U16Oqbck.
People will say I’m biased, since I founded a project where you can sell and buy goods for crypto. Yes, it’s true. Still, I’m more interested in expansion of cryptocurrencies than in my project’s expansion. In fact, I founded it for one simple reason: I’m sure that hodlers will never change the world. But we will. We should just learn from the guys in our videos who pay with cryptocurrencies in everyday life and make cryptocurrencies valuable.
An interesting point really. And i do side with you when you said that the only way for cryptocurrency to grow even larger is by growing the numbers of crypto users.
And now the problem. When many opinionated crypto enthusiasts are shouting HODL as the best stance, how do we convince novice to spend their bitcoins for everyday commodities?
We are currently at a stage where the principles of bitcoin spending and hodling is at conflict. The initial design to be an electronic cash shifted to crypto investment. And it is quite frustrating and confusing at the same time.
Nonetheless, i side with you on the premise of utilization. Bitcoin needs to be useful and utilized in order for it to grow more in value.