PurpleTulle
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October 03, 2018, 03:51:38 PM |
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One good usage of bitcoin is to store value and that's pretty much it. A mode of storage that depends on the whims of the market, how safe and sustainable can that be? Adoption is the only sustainable future for the blockchain, and if we don't find places where the blockchain is applicable in our everyday life, we may never see that future. I think Walmart, Maersk, Hooch and a number of others are doing something in that area. You gotta love Hooch though. I mean, spend on a 60% off base price and get 10% back, with free drinks too. What more could you ask from a rewards program!
This sounds like an everyday application of Crypto in real world. I'd check it out though! |
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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troganhorseyo
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October 03, 2018, 03:52:04 PM |
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More than 90% of ICOs (still a wide margin) lack pure utility aside from trading values. Among freelancers, people may trade one crypto for another, but in a brick and mortar business scenario, crypto has little to no impact. For example if I walk into a store I could get the credit card and a few other payment options. Still, with the over abundance of crypto technologies and their native tokens, only a handful of stores have barcodes for bitcoin and a few other payment coin types.
I think we need more radical real world businesses tokenizing their products and using this 'tokenization' as a means to garner support for mainstream crypto adoption. Like rewarding people loyalties for using their products.
Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes?
The advent of the blockchain industry has paved the way for an effective global digital economy which surpasses geographical boundaries, however, the erratic nature of the crypto market has caused more panic than necessary resulting in a stunted growth in mainstream adoption. I think it will take more time before we see real businesses adopt cryptocurrencies as a payment option. So I read this thread and found it quite interesting and went ahead to do some research. I discovered that companies like Walmart, CheapAir and some Universities e.g. University of Nicosa, Cumbria University accept cryptocurrencies (Bitcoin) as a form of payment. Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes? More so, in the hospitality industry, Hooch for example is expanding their reward program by introducing the Tapcoin project which is a way to incentivize consumers/customers with a 10% rebate, while others like TUI Swap, ZoomAway among others in the same niche are beginning to embrace blockchain. So IMO, its only a matter of time before other traditional companies in various sectors begin to adopt blockchain technology and cryptocurrencies for payment in mainstream. |
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kryptqnick
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October 03, 2018, 05:21:04 PM |
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More than 90% of ICOs (still a wide margin) lack pure utility aside from trading values. Among freelancers, people may trade one crypto for another, but in a brick and mortar business scenario, crypto has little to no impact.
I think we need more radical real world businesses tokenizing their products and using this 'tokenization' as a means to garner support for mainstream crypto adoption. Like rewarding people loyalties for using their products.
Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes?
I share the same point of view. I also think that it's not a very good thing that most of ICOs are just raising money, but the token is not really needed in their project. They launch it just for fun, hoping it will grow in price as people trade it. At the same time, adoption of cryptos as payment methods is taking a lot of time and occuring rather slow. Moreover, as we saw the market's high volatility, it is understandable why solid companies are not willing take the risks. That's why I was rather skeptical about ICOs before I was hired by one that is trying to contribute to adoption of payments in cryptos in the field of real estate and car sales. |
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RodeoX
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The revolution will be monetized!
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October 03, 2018, 05:25:35 PM |
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For me bitcoin is money. I use it whenever I need to spend money. So your question could be phrased as "What can you do with money?" As far as ICOs and alt-coins... Those are scams. So an ICO is used to get your money. That is what it is for and once you have them they generally have no value.
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olumyd (OP)
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October 03, 2018, 11:34:16 PM |
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For me bitcoin is money. I use it whenever I need to spend money. So your question could be phrased as "What can you do with money?" As far as ICOs and alt-coins... Those are scams. So an ICO is used to get your money. That is what it is for and once you have them they generally have no value.
I like your straightforward thinking. But I don't think the idea of having decentralized applications and a utility token to run their platform is an utter mistake. However, what's likely to be a mistake is that these ICOs have shifted their focus from building a useful technology to building a trading instrument which in every case has a horrifying ripple effect on the whole crypto-digital ecosystem. Bitcoin should remain as payment crypto or a store of value. Ethereum and other dApp developers should seek to create useful and usable applications. They should all stop fooling around thinking their token will become the next bitcoin, that ship has sailed already and now the spotlight should be more on the blockchain industry - this is still a phenomenon with a diverse potential. |
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samycoin
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October 03, 2018, 11:43:32 PM |
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There's so many ways to do in crypto not only trading we can use crypto to buy anything we want or to use it as payment that accept cryptocurreny as a payment.
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khaled0111
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October 03, 2018, 11:51:37 PM |
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Why do you buy something you can't use and that doesn't have any real value.
All these projects have one goal: to take your money then dissapear.
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mrcash02
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October 04, 2018, 01:36:37 AM |
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I have already seen games ICOs which you could use the tokens later inside the game to buy stuff, maybe membership, benefits, etc... But on the practice I don't know if it worked. The goal of many ICOs look interesting, but most of them fail.
Your idea of "tokenizing" products already exist, but not with Crypto-Currency. Aliexpress has this feature, you collect coins daily and exchange these coins later for a product or for a discount. To implement Crypto-Currency on it would be interesting, but I'm not sure if it would work, as they would be giving free money to customers this way... Because if these tokens were a Crypto-Currency they could be exchanged into another currencies, so not necessarily used to buy a product inside the shop.
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celtic99
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October 04, 2018, 01:59:38 AM |
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Quite a few shops in my city have started to accept cryptocurrency. We are slowly gaining mass adoption but we still have a long way to go for it to be a global thing.
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leexhin
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October 04, 2018, 03:12:02 AM |
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There are some token that could be used in their online shop if I am correct.
And some shops already accept crypto as a payment and also some ICO or token could be used in their platform for example if their project is mining you could use their token to mine some crypto.
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frowsiter
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October 04, 2018, 05:57:43 AM |
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For now it looks like we are out of options. Because there is no inter and intra-connected protocols or infrastructure throughout the world which can help us perform the smooth actions of using the crypto currencies. I am not talking about the exchanges, trading or investment which is we are doing currently through the public ledger no matter what. I am talking about use of crypto for different public services, lets say transportation payment, paying at the malls, stores, government salaries etc etc. This sounds pretty impossible right now but however that is what really expected from the crypto by this time which we lack really.
It looks like we dont have any ways to invest in crypto yet.
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olumyd (OP)
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October 04, 2018, 07:07:38 AM
Last edit: October 04, 2018, 07:18:59 AM by olumyd |
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Why do you buy something you can't use and that doesn't have any real value.
All these projects have one goal: to take your money then dissapear.
The truth is, even if we do know that they'll end up taking our money and poof, still, we can't stop patronizing them. The illusion of buying a lambo, buying our dream houses and living the American dream will keep us pursuing those alt projects with practically no use and throwing away hard-earned mined BTC, ETH or USD. What we've become are crypto junkies. |
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Altf4
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October 04, 2018, 07:25:39 AM |
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If I have more cryptos in my wallet, I will use this to purchase a lot ,for in the future real property would be useful ,and this investments would not disapper ,or if not use this cryptos to buy jewelries of gold or even diamonds that will last this investments for a long time and values that does not depreciate in value.
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Agniya
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dApps Development Automation Platform
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October 04, 2018, 07:59:57 AM |
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Now there are more and more places where you can spend cryptocurrency. I think its distribution is just a matter of time.
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darthmaul
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October 04, 2018, 08:18:45 AM |
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If we start thinking about the bitcoin as the actual digital currency then there loads of places where you can easily spend your money through the bitcoin. In fact there are more than enough online stores in all the categories which are accepting the bitcoin as mode of payment and thus making bitcoin as their primary currency. Not only this, there are many service providers who are actually bridging the gap between real world stores and the crypto coins. For example, rent project MOZO is about to have rewards for shopping in the stores affiliated with them. This way you can spend your mozo tokens with them easily. This is just one example but surely there are many more like that and with the time this frequency will rise too.
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gambitcoin53
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October 04, 2018, 08:53:39 AM |
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More than 90% of ICOs (still a wide margin) lack pure utility aside from trading values. Among freelancers, people may trade one crypto for another, but in a brick and mortar business scenario, crypto has little to no impact. For example if I walk into a store I could get the credit card and a few other payment options. Still, with the over abundance of crypto technologies and their native tokens, only a handful of stores have barcodes for bitcoin and a few other payment coin types.
I think we need more radical real world businesses tokenizing their products and using this 'tokenization' as a means to garner support for mainstream crypto adoption. Like rewarding people loyalties for using their products.
Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes?
i think that is mainly the reason why companies are introducing their own ICO, they wanted to create crypto-based payment while accumulating value on the crypto market, that could be an investment at the same time, but because tokens are not yet stable as bitcoin, they cannot push through with their agendas, though some establishments are accepting bitcoin, they are forced to trade their tokens for bitcoin, as long as the companies that are eyeing on this potentiality of crypto, they will not stop to create their own tokens. |
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sober4now
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October 04, 2018, 11:20:12 AM |
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More than 90% of ICOs (still a wide margin) lack pure utility aside from trading values. Among freelancers, people may trade one crypto for another, but in a brick and mortar business scenario, crypto has little to no impact. For example if I walk into a store I could get the credit card and a few other payment options. Still, with the over abundance of crypto technologies and their native tokens, only a handful of stores have barcodes for bitcoin and a few other payment coin types.
I think we need more radical real world businesses tokenizing their products and using this 'tokenization' as a means to garner support for mainstream crypto adoption. Like rewarding people loyalties for using their products.
Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes?
Having understudied the adoption of the token system by mega industries with the focus on the volatility of the hospitality market, In a short two years since launch, HOOCH in comparison with other hospitality providers has disrupted the scene with the tokenization of its payment and reward systems. It has also garnered the support of many top hospitality companies. Having already built a network and offering perks today at over 100,000+ top hotels, restaurants and bars globally. HOOCH is unlocking new venues and growing its user base at an accelerated pace using Tapcoin on the hoochapp. So I believe they amongst others I have understudied are already using their tokenization as a means to garner support for mainstream crypto adoption. |
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ripthesystem
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October 04, 2018, 12:02:31 PM |
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Crypto overall is still on the development stage. The main technology is clear and working, but it`ll take years for it to spread to the real world and make real impact.
Be patient, after all there are still shops that accept only cash. Even the credit card adoption rate is not 100% at this point, what do you expect of crypto?
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ophyrim
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October 04, 2018, 12:24:42 PM |
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More than 90% of ICOs (still a wide margin) lack pure utility aside from trading values. Among freelancers, people may trade one crypto for another, but in a brick and mortar business scenario, crypto has little to no impact. For example if I walk into a store I could get the credit card and a few other payment options. Still, with the over abundance of crypto technologies and their native tokens, only a handful of stores have barcodes for bitcoin and a few other payment coin types.
I think we need more radical real world businesses tokenizing their products and using this 'tokenization' as a means to garner support for mainstream crypto adoption. Like rewarding people loyalties for using their products.
Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes?
In my country, there are many companies that sell their product with BTC. Even it is possible to buy a house. Global big companies do not accept BTC generally at the moment but this is going to change in a short time period. |
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tenebriscaelum
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October 04, 2018, 02:15:12 PM |
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There are only a few platforms that makes use of cryptocurrency as a mode of payment as such the intent of most of the tokens right now are to be used in the mainstream market which would take time, though there are cryptocurrencies that can only be used in there platforms they are quite few and most of them are trading or social media platforms.
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