Real life utility question

[eaLiTy]

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

Crypto is a general word and it is too broad to explain because there are hundreds of coins and projects in the cryptocurrency space and it all depends upon what all coins you have invested. There are speculative coins, then there are good projects and solid coins. When it comes to the use case majority of the online space now accepts multiple cryptocurrencies.

Some states and countries legalizing BTCitcoin and these are not secrets anymore and with that in mind you are questioning the real life utility in 2022 .

[Baofeng]

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

We are in a period that a token has a purpose to gain support and investor, it can't just exist because it's a fork of these tokens or coin investors will look for usage and purpose, investors are losing from the pump and dump coins, yet developers keep creating speculative coins the only way to stop this is to stop and ignoring these kinds of coins if no one will invest no developers will create.

That's what we call investors maturity, I mean those who have been in the game already knows that newly created tokens with no utility whatsoever are just for short term investments because they are going to be used for pump and dump by the developers to enrich themselves and the only losers are the investors. But we are hardened by the experience, only new to the market will fall for this copy cat and fork coins that don't have any utility at all.

[wheelz1200]

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

Crypto as a genre is so new.  Computers were built in the mid 1900s yet they didn't really take off until decades later.  It takes a generation to be born under it to really have something take off.  Kids born today will grow up knowing crypto so they will be more apt to use it.  Old money is tough to swing into other classes.  Give it time, crypto is here and digging in deeper into the world economy with every passing day.

[X-ray]

What is the main purpose of Cryptocurrency? A decentralized currency that can be used anywhere at any time. So why should it be real currency? The main purpose of BTC & other currencies is it doesn't depend on any single one. It depends on whole crypto holders.

To be honest people who have been looking for the real utility usage was totally a non sense thing. This can be said that he didn't understand the purpose of crypto. The only problem is this guy was looking for the real life utility but we realize that crypto was focusing into the digitalized economic system based on the decentralized network. So real life utility just another bonus but this can be said that if it can also be used to bought like food or drink once it was getting liquidated for some cash. I think that utility has nothing to with what bitcoin and crypto peg.

[serjent05]

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

As far as I see it, the crypto real-life utility has been improving in the last few years.  It may not have that huge impact yet but we can see several financial institutions adopting, or making use of it as a model in their future plans.  Crypto is moving towards there but sadly it has been small steps.  I think the problem of wide world adoption is still the reason for it since the majority of the country is very tentative about accepting/adopting it since they have no full control over it.

[goldkingcoiner]

What is the main purpose of Cryptocurrency? A decentralized currency that can be used anywhere at any time. So why should it be real currency? The main purpose of BTC & other currencies is it doesn't depend on any single one. It depends on whole crypto holders.

Why? Because decentralisation is the very core of human economic freedom. Nobody gets to decide what happens to your money or where it goes except for you! No government gets to freeze your funds just because you are an innocent citizen of a country with a dictator who wages war! Nobody can take your money away from you! This is a concept which has never existed in history before.

The freedom to be your own bank.

[Marvelman]

Most likely, bitcoin will be the trade mechanism for all sorts of assets in the future. I think the banknote market is going to be one of the first target markets. You already see the banknote market being gradually been simplified and seen as a commodity – being traded in large quantities on global markets, a commodity that is used by all sorts of businesses. Bitcoin as a currency and payment system might be the product that succeeds in this market.

[molsewid]

As far as I see it, the crypto real-life utility has been improving in the last few years.  It may not have that huge impact yet but we can see several financial institutions adopting, or making use of it as a model in their future plans.  Crypto is moving towards there but sadly it has been small steps.  I think the problem of wide world adoption is still the reason for it since the majority of the country is very tentative about accepting/adopting it since they have no full control over it.

Yes it is slowly but surely going there to where is should be. It may take sometime but as I can see on the progress of cryptocurrency and if I will going to compare it to it's past improvement or development I can say that half of real-life utility is being adopted now by many. Well, maybe we are looking for a huge development like widely adoption of bitcoin but I know and I am very optimistic that bitcoin or crypto will be there not now but someday.

[kotwica666]

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

With each passing day, week and month, cryptocurrencies are getting closer to the mainstream. A few years ago, almost no one heard about cryptocurrencies. At the moment, there are several problems that are slowing down the adoption of cryptocurrencies. It is mainly about legalizing cryptocurrencies as a fully legal money. The second major problem is that people know mainly Bitcoin, which is not (yet) ready for micropayments. As people's education increases, it is possible that other cryptocurrencies that are better suited to micropayments will start to be used and then everything will go much faster.

[BlockchainMentors]

If we consider blockchain as a whole and not a few coins or projects related to it then we would realise that blockchain is actually changing the dynamics of the world and how we see it. It is the purpose of the project that actually defines how well it is doing or will do. There are a lot of new projects in the market and the competition is getting intense every day, therefore it is important to understand the mindset behind that, the purpose it aims to solve or impact it wishes to create.

[Marykeller]

Crypto is a digital currency. Every altcoin created has its purpose behind its innovation. Getting to find its real-life utility will take time to accomplish because crypto is yet declared legal globally.

A few years back, who could ever guess that bitcoin will be the most talked-about digital asset to use to safeguard your assets. Look at where it is now, countries like Russia wants to use it as a mode of payment to transact oil and gas.

Gradually with time, everything will be digitalized. When that happened, we would get to find out that, there's more to crypto other than investing and making profits. By then we will be using the real utility of crypto and be happy we did

[Keinone]

There is demand to use cryptocurrency as payment option. Many people already have it and also entrepreneurs and companies have it and day by day crypto is more common and mainstream thing.

Example French Connection Finance (FCF) has developed crypto payment gateway and it is used by ecommerce and brick and mortar stores (you can use most common cryptos as a payment). It is actually very easy to use for both merchants and customers. I have tried as customer. Fees are also very competitive (0.5-1.5 %) versus credit cards or PayPal. Credit cards have pressure to raise their fees [Suspicious link removed]j.com/articles/visa-mastercard-prepare-to-raise-credit-card-fees-11646743166) so crypto is an easy solution to cheaper fees at the moment.
So already in some stores you have and option to pay with cryptocurrency. And in future it will just spread when we talk about it and customers demand crypto as a payment option from companies.

[hamba laeh]

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

I think it's very difficult for crypto to merge with the real life. because not everyone can accept the presence of crypto because crypto is decentralized which makes some people worried. and to make crypto into real life, special regulations about cryptocurency are needed so that people don't feel worried and feel safe with crypto.

[firmino10]

Apart from speculation and projections,crytocurrency is growing towards the point where individuals and companies can use it to exchange for goods and services. Some countries and companies are already using it. Some policies just need to be in place to favour its usage and also individuals transiting into the era of digital currency. Though it might take a while since small scales business and most individuals are not familiar with it environment. Some of the exchange can exist only in the ecosystem of the block chain and the services they rander.  Mind you not all coin offer real life utility.

[magneto]

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

Mostly speculative still.

I think that there has been real utility but most of it has been limited to very niche fields (e.g. DeFi or yield farming protocols).

And I guess that's why it's still so lucrative to be involved in crypto - there are a lack of people willing to speculate/take a chance in this before it goes mainstream. Speculation also precedes real adoption.

[tygeade]

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

I think it's very difficult for crypto to merge with the real life. because not everyone can accept the presence of crypto because crypto is decentralized which makes some people worried. and to make crypto into real life, special regulations about cryptocurency are needed so that people don't feel worried and feel safe with crypto.

I do think that it is not easy but I also do not believe that it is impossible neither. I mean it is quite obvious that we are talking about something that is a bit of a difficult thing to challenge but fiat world is getting more and more accustomed to crypto as well. We are seeing more and more things that you could do with your crypto and I am not really sure what we could do about that at all.

Hopefully we won't be doing anything big, but that doesn't mean that we shouldn't focus on anything hyped right now, just learn that it is getting bigger and better, and eventually we will be doing much bigger as well and will earn a lot more.

[Dr.Osh]

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

of course the answer is regulation. Currently, regulations regarding crypto in each country are almost different. You will find real functionality in crypto in countries that legalize crypto as an alternative payment, and you will not find it in countries that do not legalize crypto as a payment alternative. in my own country, crypto is still very rarely used in real life, it is nothing more than an investment tool. So, when you go to some countries, you can only see crypto as an investment tool, and not see its real function. well, it all depends on the regulations of a country. So, when you see that in a country the use of crypto is not optimal as an alternative payment, it is most likely due to regulation.

[henmark]

Currently, regulations regarding crypto in each country are almost different. You will find real functionality in crypto in countries that legalize crypto as an alternative payment, and you will not find it in countries that do not legalize crypto as a payment alternative. in my own country, crypto is still very rarely used in real life, it is nothing more than an investment tool. So, when you go to some countries, you can only see crypto as an investment tool, and not see its real function. well, it all depends on the regulations of a country. So, when you see that in a country the use of crypto is not optimal as an alternative payment, it is most likely due to regulation.

Regulation is one part of the deal, the interest in that nation is the second part. There won't be a decent regulation in any nation as long as there are not enough attention towards it. There are some nations that show extra love towards crypto like Philippines or El Salvador which are small, but the USA shows big interest to it as well whereas the UK doesn't show the same interest. Doesn't mean they do not care about it, it is just that the hype is not as high as some other nations.

This makes the regulations take longer because it is not an urgent thing. Politicians who see that they could earn some votes if they support crypto regulations will make a law quicker, if there are not enough interest then there are not enough votes to get and that is why it is quite impossible to get politicians to act quicker.

[ardydyon]

we see from the development of the crypto world, it is growing very fast and well.
every day there are always new projects that have interesting concepts and offer convenience that solves existing problems.
Crypto is currently a great digital asset. not as you say speculative assets.
or growing because of the hype.
I think your insight about crypto should learn more.
out there are already using crypto in real life, be it as a means of transaction or otherwise.
crypto is very helpful in the real world depending on how we use it.

[Crypt0Gore]

BTC and a few alts are good stores of value, if that doesn't confuse you that this is a real-life utility I don't know what will, crypto have changed so many life too and also this is another real life utility, crypto won't make it this far is it produce nothing