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Author Topic: Are all cryptocurrencies destined to be store of value in the end?  (Read 1234 times)
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April 18, 2018, 06:07:50 PM
 #21

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.

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April 18, 2018, 06:47:35 PM
 #22

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.



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April 18, 2018, 07:32:01 PM
 #23


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.

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April 18, 2018, 07:32:51 PM
 #24

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.

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April 18, 2018, 07:35:52 PM
 #25

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.


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April 18, 2018, 07:40:11 PM
 #26

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.

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April 18, 2018, 08:10:34 PM
 #27

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.  Grin
I mean that company owner that will have the courage of taking the volatile environment of bitcoin.

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April 19, 2018, 12:17:09 AM
 #28

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

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April 19, 2018, 12:24:32 AM
 #29

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.

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April 19, 2018, 12:28:39 AM
 #30

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

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April 19, 2018, 01:00:27 AM
 #31

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.

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April 19, 2018, 01:27:50 AM
 #32

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.

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April 19, 2018, 02:06:30 AM
 #33

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.
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April 19, 2018, 12:44:20 PM
 #34

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.

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April 19, 2018, 01:00:48 PM
 #35

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.

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April 19, 2018, 01:21:35 PM
 #36

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

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April 23, 2018, 07:18:33 PM
 #37

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.

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April 23, 2018, 11:52:26 PM
 #38

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.

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April 23, 2018, 11:59:17 PM
 #39

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.

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April 24, 2018, 02:24:34 AM
 #40

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.














 

 

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