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

[shiroocrypto]

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?

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[chris200x9]

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?

Currently most of the people including me investing money in cryptos for future profit purpose not for buying things on a daily basis. If at all if I want to buy something but I can't do that as of now in my country because no one is accepting cryptos to buy directly. This is a real fact so everyone is investing only to make a profit when prices go up. It has become like another commondity to invest our money for future profits.

What I know is only in Japan people can use Bitcoin to buy many things directly without converting into fiat but if I want to buy then first I need to convert to fiat. So instead of currency, I use bitcoin as an investment product.

[Slava79]

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".

[XinXan]

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".

The blockchain itself isn't, bitcoin is. At this point everyone knows that bitcoin will never become a normal currency unless some new technology is discovered and can be applied to bitcoin. When we hit 20k the fees were huge not to mention the extreme volatility. Even as a store of value that volatility is way too high.

I know most of these coins are just garbage, real serious companies are just starting to get in, we will see real serious cryptocurrencies this year and next year when big players start to join in.

[EdenHazard]

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?

For me, it will be difficult for cryptocurrency pure in use as a payment system. In fact it will never happen, the first reason is that the price of cryptocurrency is very volatile, secondly depending on the government, we live. I do not see them as greedy investors against profits in cryptocurrency because it's perfectly natural.

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?

We cannot decide forever cryptocurrency only serves as an asset. As I have said depending on the country we live in, we will definitely use cryptocurrency as a means of payment on condition that the government allows it, and it depends on people. If cryptocurrency has become legal in some countries the company can set for payment system can only be used with cryptocurrency.

[Thanasis]

Still the adoption might happen by people greed itself like what happened in 2017,people will get attracted by the prices of crypto currencies and the percentage of people increasing crypto currency keeps increasing every year.The price rise will stop at one point when all the people started to use it after that it can be used as currency.

[hugeblack]

Currently, BTC is only used as a store of value,

No, Store of value is "the function of an asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved. More generally, a store of value is anything that retains purchasing power into the future."[1]
This leads us to the following qualities: durable, easy to transport and have a stable price.
cryptocurrencies fail to be stable coins because of random fluctuations in their price(Decentralization).
its Store-Of-Value

How do we expect cryptocurrencies to be adopted as valid payment methods when everyone is really using them as investment stocks?

The mistake of saying that these currencies are tools to invest(investment stocks)

Source:
#1 https://en.wikipedia.org/wiki/Store_of_value

[amishmanish]

People who have joined in during the later half of 2017 were blinded by the ICO craze. Some by the greed of kickass return, some dazzled by the amazing promises. It looks like both of these benefits were hyped beyond sustainability.

As the market consolidates and leaves majority of the ICO token holders disappointed (Exit-scams, unviable products etc etc.), A lot of people will be left holding token bags while developers will have low liquidity ETH to take care of. The time for hype based growth is gone for good now.

Only a few of these will survive and those too which have actual use cases, working product and user base. Most others will just crumble. Those that remain will then become products in their own right. Those won't really be store of value but will be more like commodities to be traded depending on their uses.
Bitcoin is the only one that can maintain the confidence with people about it's value. The rest will have to prove their worth in terms of BTC.

TLDR; Cryptocurrencies aren't meant to be "Stores of Value". They have been mistaken to be so by the HODL phenomena propagated by dishonest developers to pump the value. They are supposed to be utility tokens to be used as Gas in the real product.

[Coffee135]

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?

Pizza is a textbook example. But then the price of bitcoin was low and mining coins was easier. Bitcoin will gradually increase in price and maybe in 10 years bitcoin will cost 1 million. You will never spend your coins? Then why do you need them? Never look back. You need to go ahead and constantly spend and buy new coins.

[alyssa85]

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?

It goes back to volume. Even if crypto is used for speculation, as the volume of trade increases, the volatility will decrease. When trading volumes are about 100 times what they are now, the volatility will be depressed enough for crypto to be used as actual currencies.

[jseverson]

I would hope not. I can't deny the possibility of things ending up that way though.

The way I see it, there are only really two major practical barriers as to why Bitcoin isn't perfectly suited for daily payments:

• Scalability - The network can only handle so many transactions. Bitcoin can't be a serious alternative over other modes of payment if it can only handle a small fraction of what other options are capable of. If this isn't solved, it literally can't even handle mass adoption even if all other problems were somehow remedied. Everything else pretty much hedges on this.
• Volatility - Bitcoin's price moves so much that it's hard to actually spend it. On one hand, it may be worth more tomorrow, and on the other, it may be worth less tomorrow. The former makes you not want to spend, and the former makes it so that you absolutely have to spend now. This is a byproduct of speculation in my opinion, and could probably be slowly solved through increased adoption.

Scalability is the more pressing issue, one which people are racing to solve, so it's clear that there are a lot of people who want Bitcoin to be something more. Of course, there are also people who believe it's perfect as it is now because of its storage of value properties, but even they may change their minds once they can spend it as easily as money in their pocket.

[Dudeperfect]

It is true that the price never remains constant for a comparatively higher time but we must understand the fact that Bitcoin, crypto/blockchain technology is still in the early phase and there are valid reasons why the price keeps fluctuating. Yes, the core principle of Bitcoin states that it is a payment system and we should give first priority to using it in that way. Things will improve down the road but till then we have to deal with the current disadvantages.

[fiulpro]

Intended form?
I don't think that investors would agree on that .
I don't think that using them as a fiat system is intended form at all because if they were going to be used as payment gateway then again they need to be stable !
And they aren't at all..
Well only some payments would be beneficial when we talk about Bitcoins, everyday ones are something that I don't think they will work with .
The price of veggie was 0.000009 BTC and the instant you paid.. the price rose to 0.000010 😐 are you gonna pay more or less ? It's very complicated.

[resty]

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?

That's true! Seems like only the leading cryptos are the only expose to be an alternative currency in the real world. But so what? I don't see any negative outcomes if those and will always be a store of value, let's give it to Bitcoin. Actually, some alts doesn't really have the goal of becoming a currency, they are running in different ways. For example, Ether was developed to facilitate and monetize the working of Ethereum to let the developers run and build distributed applications (ĐApps).

[Austin Alexis]

I think the majority of all cryptos will disappear over the next 5 years. What we will be left with I think is a store of value coin, an anonymous currency and a non anonymous currency coin and a smart contract token. The rest will fall to the wayside

[frowsiter]

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?

I dont think that we are on that path really! Lets see what we have got today. BTC which can be used to transfer the funds with fees as low as 10-50 cents per transaction. Max couple of dollars if its big one. The confirmation time has also increased a lot and hence no problem with the time issue.

Many merchandise are getting involved with the payment processor that are dependent upon the crypto itself. So its good sing of utility use.

Recently, PornHub.com has started using the verge coin for their payments and off course others will follow the same as well. I dont think we re lagging anything here.

We wont end up using the cryptos as store value thats my conclusion.

[boyptc]

How do we expect cryptocurrencies to be adopted as valid payment methods when everyone is really using them as investment stocks?

When you say cryptocurrencies, you are referring to all coins. You should stick to your concern about bitcoin only being used as a store of value. Not all coins are destined to be a store value, you can see many traders that are disseminate their holdings to different alts for the purpose of trading. This shouldn't be a problem anymore as crypto's can be use with different purposes depending on the holders.

Will we only see proper adoption once the current greed and "quick buck" mentality subsides?

The adoption has started due to the support of decentralization though the mentality of what you mentioned was there.

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?

Not literally all, few will be used as currency while others will be used as store of value especially bitcoin. Try to see some updates on Japan, it's an example where people are using bitcoin as currency.

[Harlot]

It cannot even be counted as a store of value in the first place. Why? Because if you want to store your money on something you are expecting at least to have its facial value in the future, with Bitcoin and other cryptocurrencies being this volatile you don't expect your 100$ to be 100$ in the future,  it can be 150$, 80$, or even 10$ in the future. But when you look at it you will see that Bitcoin is now being used as a payment method on select business establishments and judging by how governments want to regulate it the idea of Bitcoin as a currency is still there.

[aoluain]

Im not sure about the 'store of value' term being applied to crypto, I do think
though that it is becoming speculative, people are only getting in for the
possible return of investment.

In the case of bitcoin I do think there is a degree of hedging against future
financial troubles. It has been talked about before on the forum.

[dothebeats]

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?

Nobody is even ready to accept bitcoin as a form of payment in exchange to their goods and services either, so there's that. For an economy to prosper or be stimulated, it needs merchants willing to sell and buyers willing to pay; you can't have an incomplete set of ingredients in order to make an acceptable recipe that would work, so the blame shouldn't always be on the holders but also on the merchants. But yeah, since the volatility is acting crazy every time, no one would really want to accept payments as it has a high tendency to decrease minutes after they've received the payment. Most people right now are inclined to use bitcoin as an investment vehicle, so yeah, store of value would likely be the main use-case for bitcoin and cryptocurrencies in the next coming years until the volatility subsides.

[surfinonmyownwavebaby]

I don't think majority of altcoins will become store of value, I believe that majority of altcoins will cease to exist in the near future. The only reason some of them are there is for pure speculation and as you alluded once the quick buck mentality dies out, true adoption and evolution can begin then. Only then will the development of these coins matter, right now it is a complete gong show out there.

[Vinalians]

We aren't really uses them as investment stock we invest because we see or we saw that cryptocurrencies have the potential to growth the value meaning to say it is a step by step not first at using it as a payment that quick.

[harizen]

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?

Pointing to bitcoin, you just have noticed it but in reality bitcoin was being used to it's "intended form". We just don't have a clear source of this but bitcoin will never be legally used if it's not used for currency purposes. We can't hide the fact that their is an increase of merchants accepting bitcoin worldwide.

Pointing to other altcoins, I might agree to you. ICO's intended purpose is to used their respective tokens in their services but that's not the supposed thing that happened as getting profits is a must. But why it turns out like that? Because the real platforms and services of those tokens can only be used upon their established date based on the roadmap. So meaning, the actual service is not yet out as exchange coins will come first for trading purposes.

For me, just don't mind it and trust the process on the way.

[1Referee]

Once the volatility becomes more or less 'manageable', and the infrastructure is ready to stimulate usage as currency, people will definitely do so. I am quite certain that with LN being easy to use for each and every participant of this ecosystem, global merchant/store acceptance of Bitcoin will increase, and with that increase people will have more possibilities to actually spend their coins, instead of converting them to fiat to buy whatever they need. Bitcoin with LN and potentially other offchain scaling layers will be more than enough to do the job; I honestly don't see any altcoin being able to do a better job in that aspect. LN offers instant payments, low transaction fees that almost look like theft, insane transaction processing capability, etc. Seriously, what can an altcoin do to come even close to that? Nothing.

If altcoins don't serve an actual purpose like what Monero is doing or Ethereum, there is really no place for them in here. Litecoin is a redundant altcoin as well, but it is still somewhat of a testbed for Bitcoin. It was considered to be the Silver back in the days, where Bitcoin is Gold obviously, but I don't know how people think about Litecoin right now with so many other coins being around.

[googs84]

May be that could happen as we progress through the time. Its like we looking at the digital gold which is being traded on mini scale for the purpose of currency exchanges but over the time this gold would be the store value and nothing else. We can say that after al the coins are mined and the demand and supply has been stabilised then it could just stand at the particular prices and thus get fixed or rigid movements in terms of it. After this happens we can then use it as store value only. So yeah we might just see crypto turning into he store value soon. But that is just the scenario we have imagined here. It could happen that it may just get more demand but no supply and thus ever increasing prices all the time.

[Gozie51]

Will we only see proper adoption once the current greed and "quick buck" mentality subsides?

I do not believe in this statement even as I submit to your other post. Whatever mentality would not stop any proper adoption. Adoption will happen naturally, nobody will have a hand in it. Only necessity will make it happen for necessity is the mother of invention.

[Reid]

You already saw the problem from when I analyzed your post.
It is lack of merchants that is why we can spend it.
It had been always person to person trade or to an address of a company that will be doing an ICO.

At what date it could happen? That we dont know. We are all hanging here waiting for a fearsome merchant of death. 
I mean that company owner that will have the courage of taking the volatile environment of bitcoin.

[Indrawan77]

Crypto currencies just start to develop and start to grow, they need all of the popularity and the transaction volume that they can get, all crypto was supposed to be used as currency, but because the adoption rate is still low, we can't force people to accept crypto as currency, for now crypto still survive because people treat it as asset and used it for trading, and I think in the future crypto will become currency and asset

[gentlemand]

I think people have been getting it backwards myself.

Everything springs from it becoming an established and trusted store of value. It needs to achieve and sustain that first. Once that's in the bag wider use as a currency begins to happen.

[cahbagus555]

There are some different cryptocurrency and utility token. Cryptocurrency always become currency on internet or digital world and I am believe that will used by many people for internet transaction and utility token like we can buy company service. Thats just my opinion

[batang_bitcoin]

Im not sure about the 'store of value' term being applied to crypto

Just like gold, investors,we tend to store bitcoin as asset.
Bill Gurley: Bitcoin is an 'incredible store of value' in much of the world

We aren't really uses them as investment stock we invest because we see or we saw that cryptocurrencies have the potential to growth the value meaning to say it is a step by step not first at using it as a payment that quick.

And having no stable price, it makes every investor to use that chance and possibility that our money will grow in due time. Crypto's are still intended to be used as a payment method, you should recognize on how many stores and merchants accepting it worldwide.

[timerland]

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?

There is currently simply not enough merchants accepting bitcoin for people to spend it.

No retail stores accept bitcoins still, for example. So even though you can cash out your bitcoin to fiat first, that's not spending bitcoin directly. That's a problem. But even a bigger issue is the volatility of bitcoin. Bitcoin is so volatile that all merchants are forced to convert BTC to fiat at point of sale, which defies the purpose of bitcoin.

Bitcoin is definitely a long term store of value, but should also be considered to be a currency in its own right. It's not just an asset that holds your value (even though, it does). Once the markets mature, bitcoin prices stabilize somewhat, and more merchants accept BTC, adoption of BTC as not only a store of value but also a currency will come naturally.

[MinerHQ]

It cannot even be counted as a store of value in the first place. Why? Because if you want to store your money on something you are expecting at least to have its facial value in the future, with Bitcoin and other cryptocurrencies being this volatile you don't expect your 100$ to be 100$ in the future,  it can be 150$, 80$, or even 10$ in the future.

Storing value means investing your money and expecting more profit in the feature but it also comes with the risk of losing your investments. It applies to all investments not just for bitcoins or any other altcoins. If you want just $100 store value then just keep the money with you no need of any investments but your money value will reduce over the time due to inflation.

But when you look at it you will see that Bitcoin is now being used as a payment method on select business establishments and judging by how governments want to regulate it the idea of Bitcoin as a currency is still there.

At least I never see bitcoins are using as a payment option in my country. What I see is everyone here are investing to make a profit from the bitcoins not for using bitcoins as a payment option as of now.

[Dimid]

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?

Now the attitude to the crypto currency is more speculative than for real use. In the future, when the infrastructure of crypto coins is developed to a greater extent, we will probably use them for payment. But now bitcoin and altcoins - this is only a means to increase the amount of fiat money, since the main life is for fiat.

[CrazeCoinz]

Because it's decentralized currency and people will think that it's best to hold their coins rather than spending and buy back again once they need that coins. It is now a mode of digital assets and it will not serve it's purpose of being a currency.

[carlisle1]

This same reason why bitcoin now and altcoins are experiencing corrections,because of this holding strategies,things that bein a trend for how long now,bitcoin is a currency why need to be stored and not circulated..i am a holder myself but i amsking the same thing to my mind,that if this is right or wrong..though i am spending bitcoin in times of emergency

[XinXan]

Once the volatility becomes more or less 'manageable', and the infrastructure is ready to stimulate usage as currency, people will definitely do so. I am quite certain that with LN being easy to use for each and every participant of this ecosystem, global merchant/store acceptance of Bitcoin will increase, and with that increase people will have more possibilities to actually spend their coins, instead of converting them to fiat to buy whatever they need. Bitcoin with LN and potentially other offchain scaling layers will be more than enough to do the job; I honestly don't see any altcoin being able to do a better job in that aspect. LN offers instant payments, low transaction fees that almost look like theft, insane transaction processing capability, etc. Seriously, what can an altcoin do to come even close to that? Nothing.

If altcoins don't serve an actual purpose like what Monero is doing or Ethereum, there is really no place for them in here. Litecoin is a redundant altcoin as well, but it is still somewhat of a testbed for Bitcoin. It was considered to be the Silver back in the days, where Bitcoin is Gold obviously, but I don't know how people think about Litecoin right now with so many other coins being around.

We are still far away for the volatility to stop. Anyone with 10 million or more in bitcoin can't really liquidate his position without moving the market quite severely. There is also too much variance in the perceived bitcoin's value, it's really hard to ''calculate'' the intrinsic value of bitcoin considering that it really doesn't exist.

[Hydrogen]

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?

The price of bitcoin has a seasonal tendency to peak at the end of each year during black friday on expanded transactional volume and higher demand when peak christmas shopping is occurring. This suggests that not only does bitcoin (and other crypto currencies) function as a store of value, it also has a secondary role as a true currency which people utilize to get their christmas shopping done.

The concept of bitcoin needing to utilize a heavy volume transactional model where people use it constantly for anything and everything never had any real evidence to support it, in my opinion.

It is often faster, more efficient and cheaper in network fees for people to utilize altcoins for a transaction heavy role. Bitcoin can be relegated to a role which emphasizes store-of-value and let altcoins be utilized for coffee buying and whatever other buying/selling is necessary. That arrangement makes sense. It appears to be a natural progression we may see in the future.

[Biscutard]

I don't think majority of altcoins will become store of value, I believe that majority of altcoins will cease to exist in the near future. The only reason some of them are there is for pure speculation and as you alluded once the quick buck mentality dies out, true adoption and evolution can begin then. Only then will the development of these coins matter, right now it is a complete gong show out there.

Yeah, you were right, not everything really can be a store of value some may have been forgotten in the future and some may struggling to survive and some will perish. This is how the market really works once there's no support from the people, you already know where they were headed on their next spot. So cruel yet someone need to survive for the sake of the many.

[entrepmind23]

Even though it has been a decade since the inception of cryptocurrencies, we are still in the early stages of it because it is only recently when more people knew about cryptocurrency. Most of the people before in the early stages when its value is below $100 do not believe its value will come to this and some even forgot that they have a stash of it. What I want to point out is that we cannot come to a conclusion yet what will be happen to cryptocurrency because it is yet too early.

You can see that nowadays it is treated more as an asset than a currency because of some restrictions like transaction fee, confirmation time and the number of merchants accepting it. The price of it as well is a big factor why some people choose to hold their coins instead of spending it. This is a good opportunity to grow your money but time will come when bitcoin will reach a point of stability and people will use it as currency.

[cyberkuto]

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?

Well,  I find it a good investment.  If you invest on it then check it for a week or a month, you would not feel a change.  But since that it's an investment, it takes years.  What I strongly suggest,  make it as "Forget Money"  then check it after couple of years. Therefore,  in an emergency situation,  you have at least something to get or to rely on. Especially in the future. 

[magneto]

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?

IMO, bitcoin really is whatever people decide to use it. There is no absolute "intended" use. It has the properties of a currency, so you can't say that it's only a store of value. But right now, bitcoin as an asset is definitely more used than bitcoin as a currency.

And that is mainly caused by the fact that bitcoin is as volatile as it is right now, with lots of speculators around it.

I think that once bitcoin's volatility is gone, bitcoin as a currency will be appreciated and used more. And volatility and adoption rate of BTC has an inverse relationship, more adoption and actual usage of the BTC network and currency = less volatility. So as more adopters come onto the bitcoin scene, and more merchants accept BTC, bitcoin will become more of a currency, but still retaining the important aspect of being a store of value.

Don't forget the fact that being a store of value alone is a rare trait these days, and even if BTC ends up as that, it'll still be widely used and highly regarded.

[kingkonjac]

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)

[Zadicar]

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?

Nothing to be surprised yet most people would always see the money making opportunity that it gives rather than on the adoption on where some people do care about.When we do try to look the current situation nowadays we would able to see bitcoin would always have the lead when it comes to acceptance and adoption.We might see this as well on next to bitcoin which is ETH but it would really takes time because it isn't really easy for a coin on reaching on such situation where it can already be used on payment system.

[winterland]

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?

Not all cryptocurrencies are going to be a store of value for the simple reason that there are coins like dogecoin that have an unlimited supply, however you also need to remember that currencies are not only meant to be to be a medium of exchange currencies are also meant to be a store of value that is why gold is one of the best currencies around the world.

[evermak]

Yes, even the developers wanted it to be used as  a payment medium only. But with time the perception has changed as people started using it as an investment option.

[Roukawa]

The real purpose of bitcoin fades right now. Essentially, bitcoin is made to become a medium of transaction. But as what happening today, bitcoin becomes the storage of value rather than to use it as a currency. Bitcoin can never be a daily mode of payment due to the reason that it has scalability and volatility. And I think the OP is right because until the end, we can't say that bitcoin will become a global currency that can use in daily exchange.

[PsylockReborn]

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?

Cryptocurrency is still so young and most of the business are not adopting it as mode of payment because of volatilty. You are right most of the cryptos are used as a store of value or investment vehicle but we can't really predict the future since this is the technology that we will be using 2 or 3 decades from now. Its just that the adoption is not yet widely spread throughout the world and there are still lots of people who doesn't understand how this works. We just have to wait what the future will bring and will truly use crypto as a currency not just a store of value in the future.

[BertoloyBTC]

Maybe not all cryptocurrency are destined to be a store of value in the end, because of the many altcoins that are circulating the market , not all these will grow and last like bitcoin, this altcoin maybe the store of value in the future ,but ad I said not all are successful atlcoins ,so by the time goes by you must choose the altcoins which is considered a very strong potential to have a good future.

[kwarto]

for now they are destined to store as an investment asset not as a currency to buy or exchange goods and services. but this may end up when goverment will start accepting tje coin as a currency. to this day some of establishment are now accepting the coin in exchange of their product offered. someday, if theres more and more establishment will accept it as payment then thats the time the coin will move to a new era.

[IndzheborgC]

Gradually, many coin developers are trying to integrate into the merchandise trade, offering a faster, convenient, safe, anonymous and inexpensive option of buying with the help of their crypto currency. For example, Solaris (XLR) partnership with FLOGmall.

[keycellko]

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.

[ahmad21]

No cryptocurrencies are much more than a store of value. It can be used in payments systems for making payments or transfers to the people. Even the international payments can be made with cryptocurrencies. This will eliminate the need of carrying cash wherever we go. As cryptocurrencies are decentralized, the cost of transaction is also very less as compared to the fees charged by banks. Different currencies have different advantages and utility some offer a blockchain support for other tokens while some aim at decentralizing any specific sector. Cryptos aren't just store of value.

[Monnt]

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.

[bizarro]

I still have this attitude towards crypto, as a part time employment, will it end, or give a good profit, I`m still working till I can.

[omonuyak]

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.

[miroslavt]

I agree to you to some extent, current situation is that everyone wants to get paid in crypto but no one wants to pay using it. It will cause a lot of imbalance and ultimately current buyers using it will also stop this practice.

[okala]

I will said capital no and crypto currencies are not mean or destiny to be store of value at the end. If you studies the white papers of most of the coins you will find out that there are out to solve one problem or the other and in future that is the way things are going to play out.

[winterland]

I will said capital no and crypto currencies are not mean or destiny to be store of value at the end. If you studies the white papers of most of the coins you will find out that there are out to solve one problem or the other and in future that is the way things are going to play out.

Most coins are not going to become a store of value because most of them disappear in the first year, also most people are not using altcoins for anything other than to try to earn money, 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.

[GoodLuck2]

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.

Right now, the usage of the crypto currencies is not that much common and encouraging and above all, there are not so many places where you can go and buy different things by paying in the form of the crypto currencies. this is the reason behind why so many people are only holding their coins and are treating them as their assets. After some time, when things will be in more favor of the crypto currencies, then we can expect this thing.

[target]

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.

[TrumpD]

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.

[streazight]

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.

[Snaic]

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.

[paul gatt]

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.

[Gabb]

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.

[Hatuferu]

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.

Right now, the usage of the crypto currencies is not that much common and encouraging and above all, there are not so many places where you can go and buy different things by paying in the form of the crypto currencies. this is the reason behind why so many people are only holding their coins and are treating them as their assets. After some time, when things will be in more favor of the crypto currencies, then we can expect this thing.

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.

[renz0]

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.

[Janation]

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.

[Burogh]

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

[chocolah29]

~
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.

[gunhell16]

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.

[renes]

I would not intend to store value on any coin except bitcoin, most other tokens are utility tokens definetely not for store of value.

[r32godzilla]

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.

[Ucy]

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.

[ibrayzorhaf]

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

[Lexurdania]

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.

[BartS]

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.

[kenel]

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

[yitzjoe]

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

[KingdomHearts]

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

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.

[realcrypto]

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.

[Edgegeraldine]

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

[Escf4]

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.

[ndico]

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.

[hahay]

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

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.

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.

[adzino]

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.

[khaled0111]

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.

[ricardobs]

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?

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.

[ronics]

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.

[zeaderza]

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.

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.

[Ziskinberg]

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.

[Burogh]

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.

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

[VEIL-Project]

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.

[Leyss]

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?

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.

[BaraxLo]

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.

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.

[patispace]

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.

[Silberman]

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.

[The Sceptical Chymist]

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.

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.

the rest of the coins are going to struggle to find a purpose

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.

[Finestream]

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.

[jamids]

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.

[Altf4]

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 .

[iMark]

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

[fasdorcas]

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.

[efxtrader]

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

[CelebratingBTC]

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.

[reality18]

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.

[coinplus]

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.

[Inikoo]

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.

[Hatuferu]

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.

[spongegar]

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.

[margaret22]

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.

[Christopher_Hayes]

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?

[sultanGol]

Would not say it will always stay as a store of value, but for a long time, it will probably remain the main purpose.

[squog]

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.

[cluit]

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.

[ngano ba]

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 .

[Silberman]

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.