Bitcoin Forum
October 22, 2018, 05:56:28 PM *
News: Make sure you are not using versions of Bitcoin Core other than 0.17.0 [Torrent], 0.16.3, 0.15.2, or 0.14.3. More info.
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 [3] 4 5 6 »  All
  Print  
Author Topic: Are all cryptocurrencies destined to be store of value in the end?  (Read 1234 times)
cyberkuto
Newbie
*
Offline Offline

Activity: 168
Merit: 0


View Profile
April 24, 2018, 02:40:03 AM
 #41

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. 


Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1540230988
Hero Member
*
Offline Offline

Posts: 1540230988

View Profile Personal Message (Offline)

Ignore
1540230988
Reply with quote  #2

1540230988
Report to moderator
1540230988
Hero Member
*
Offline Offline

Posts: 1540230988

View Profile Personal Message (Offline)

Ignore
1540230988
Reply with quote  #2

1540230988
Report to moderator
magneto
Hero Member
*****
Offline Offline

Activity: 784
Merit: 571


View Profile
April 24, 2018, 09:53:56 PM
 #42

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
Member
**
Offline Offline

Activity: 294
Merit: 10


View Profile
April 24, 2018, 10:36:06 PM
 #43

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
Legendary
*
Offline Offline

Activity: 1078
Merit: 1000



View Profile
April 24, 2018, 10:44:02 PM
 #44

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.

                 ▄███▄
                ███████░
               █████████▄
              ████████████
             ███████████▓▓▓░
            ███████████▓▓▓▓▓
          ░███████████▓▓▓▓▓░░░
         ░███████████▓▓▓▓▓░░░░░
        ░███████████▓▓▓▓▓░░░░░░░
       ░███████████▓▓▓▓▓░░░░░░░░░░
      ░███████████▓▓▓▓▓░░░░░░░░░░░░
    ░░███████████▓▓▓▓▓░░░░░░░░░░░░░░
    ░███████████▓▓▓▓▓░░░░░░░░░░░░░░░░
██
██
██
██
██
██
██
.............PayPal  of   Cryptocurrencies ...........
  Blockchain Protocol + 12 Working Modules - Use Crypto as Cash
██
██
██
██
██
██
██
...........Invest Now...........
     ▄████████████████████████▄
    ███████████████████████████▌
    ████████████████▀▀ ---¬█████
    ███████████████        █████
    ██████████████    ▄▄▄▄▄█████
    ██████████████    ▀█████████
    ██████████▌            █████
    ██████████▌            █████
    ██████████████    ██████████
    ██████████████    ██████████
    ██████████████    ██████████
    ▐█████████████    █████████
      ▀▀▀▀▀▀▀▀▀▀▀▀    ▀▀▀▀▀▀▀
▄▓█████████████████████▓▓▄
▓██████████████████████████▌
███████████████████▓▓▀  ▓██▌
██████████████▓▀▀       ▓██▌
████████▓▀▀      ▄█    ▐███▌
███▓▀        ▄▄▓▀      ▓███▌
███▓▄▄▄   ▄▓█▓         ████▌
████████▓ ▓▌          ▓████▌
█████████▓    ▄       █████▌
██████████▌ ▄▓██▓▄   ▐█████▌
███████████████████▓▓██████▌
▐██████████████████████████
  ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
▄███████████████████▄
██████████████████████▌
██████████████████████▌
████████████     █▀███▌
███   █████        ▐██▌
███               ▐███▌
███               ████▌
████             █████▌
█████▄▄         ██████▌
████         ▄████████▌
██████████████████████▌
██████████████████████▌

    ██▄▄             ▄███▄
    ███████▄        ▄████████▄▄
    ██████████     ████████████▌
    ███████████▄ ▄████████████░░
    ████████████████████████░░░░
    ███████████████████████░░░░░
    █████████████████████░░░░░░░
    █████████   ▀▀███████░░░░░░░
    █████████        ▀░░░░░░░░░░
       ▀▀████             ░░░░░░
           ▀▀                 ░░
winterland
Full Member
***
Offline Offline

Activity: 434
Merit: 100


View Profile
April 25, 2018, 03:25:14 AM
 #45

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
Newbie
*
Offline Offline

Activity: 27
Merit: 0


View Profile
April 25, 2018, 04:41:43 AM
 #46

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
Member
**
Offline Offline

Activity: 308
Merit: 10

Mainstream For The Underground


View Profile
April 25, 2018, 05:02:06 AM
 #47

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.

MFTU   Mainstream For The Underground   Whitepaper
RADIO   ANN Thread   Twitter   Telegram
PsylockReborn
Member
**
Offline Offline

Activity: 294
Merit: 17

WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN


View Profile
April 25, 2018, 05:07:01 AM
 #48

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.

           ﹏﹏﹋﹌﹌ WPP ENERGY ﹌﹌﹋﹏﹏
☆═══━┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈━═══☆
≈ WORLD POWER PRODUCTION ≈


【 BACKED ASSET GREEN ENERGY TOKEN 】
☆═━┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈━═☆
BertoloyBTC
Newbie
*
Offline Offline

Activity: 182
Merit: 0


View Profile
April 27, 2018, 01:38:48 AM
 #49

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
Newbie
*
Offline Offline

Activity: 168
Merit: 0


View Profile
April 27, 2018, 06:01:06 AM
 #50

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
Newbie
*
Offline Offline

Activity: 140
Merit: 0


View Profile
April 27, 2018, 06:22:38 AM
 #51

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
Full Member
***
Offline Offline

Activity: 406
Merit: 102



View Profile
April 27, 2018, 06:32:19 AM
 #52

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.

   ⚡⚡ PRiVCY ⚡⚡   ▂▃▅▆█ PRiVCY (PRIV) is a new PoW/PoS revolutionary privacy project Best privacy crypto-market! █▆▅▃▂
    Own Your Privacy! ───────────────── WebsiteGithub  |  Bitcointalk  |  Twitter  |  Discord  |  Explorer ─────────────────
   ✯✯✯✯✯                 ✈✈✈[Free Airdrop - Starts 9th June][Tor]✈✈✈ ║───────────║ Wallet Windows  |  macOS  |  Linux
ahmad21
Sr. Member
****
Offline Offline

Activity: 672
Merit: 270


View Profile
April 30, 2018, 05:27:42 PM
 #53

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.


````````````````███████████
```````````█████████████████████
```````█████████████████████████████
`````````█████████████████████████
````````````████████████████████
```████``````````````````````````````████
`████████`````````````````````````███████
`█████████``````██████████````````████████
█████████`````██████████████```````████████
████████`````████████████████``````████████
`████████`````███████████████``````████████
``████████`````████████████```````████████
``███████````````████████``````````███████
```███```````````````````````````````████
````````````███████████████████
`````````██████████████████████████
```````█████████████████████████████
``````````██████████████████████
````````````````██████████
EtherMium██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
██
Monnt
Legendary
*
Offline Offline

Activity: 938
Merit: 1000


View Profile
May 01, 2018, 06:17:09 AM
 #54

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
Member
**
Offline Offline

Activity: 298
Merit: 10


View Profile
May 01, 2018, 06:28:53 AM
 #55

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
Sr. Member
****
Offline Offline

Activity: 574
Merit: 264


View Profile
May 01, 2018, 06:35:33 AM
 #56

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
Newbie
*
Offline Offline

Activity: 30
Merit: 0


View Profile
May 01, 2018, 06:51:16 AM
 #57

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
Full Member
***
Offline Offline

Activity: 448
Merit: 100



View Profile
May 01, 2018, 07:34:16 AM
 #58

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.

AGATE  ▄▄▄▄▄▄ Facebook Telegram Twitter Medium   ▄▄▄▄▄▄   AGATE
█ █ █ █ █ █ █ █    PayPal of Cryptocurrencies     █ █ █ █ █ █ █ █
████  Blockchain Protocol + 12 Working Modules - Use Crypto as Cash  ████
winterland
Full Member
***
Offline Offline

Activity: 434
Merit: 100


View Profile
May 02, 2018, 10:01:21 PM
 #59

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
Sr. Member
****
Offline Offline

Activity: 602
Merit: 251


View Profile
May 04, 2018, 07:40:42 AM
 #60

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.
Pages: « 1 2 [3] 4 5 6 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!