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

[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.

[1715041966]

1715041966

[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.