Well let me rephrase. Crypto currencies will never have value until they are used as actual currencies.
On any given day you can enter a crypto chat channel and you will see the statement “ I’m a supporter I’m not selling until $x.xx amount”. I’m sorry to tell you, you are no different then the person that sold on a quick flip. Ask yourself, what is a currency that isn’t used to purchase anything?
We have thousands of coins on the market each claiming to do something innovative and have plans of disrupting the currency economic system. Honestly only a handful are used in any economic way outvside of swing trading on exchanges.
So I’ll end with this. We won’t see crypto in its finest form until we can legitimately use our currencies as they were intended. To make purchases.
Agree with you @crypto2crypto .
Only time could tell -:)
Without the ability to transact and not be dependent fiat we cannot truly grow.
Have you heard of Mcafee fiat backed crypto ... just heard of it .. don’t know should laugh at or take it seriously as an alternative for current nothing backed fiat 😐
https://cointelegraph.com/news/john-mcafee-announces-crypto-backed-fiat-currency-redeemable-for-face-time-with-him/amp
True. I believe every investor should do the following to solidify their understanding on crypto. Buy and split their holdings in the following buckets. Sell (understand how to get USD back). Hold (do not sell so you gain emotional strength on big moves). Buy (rather it is precious metals or travel ) learn that you can get actual items and experiences with bitcoin.
Well right now you can trasnfer crypto to REAL dollars so I guess that acutally gives them value
in which case, crypto is more like investments
No it doesn’t if you need to convert it it use it.
I think even if doesn't replace fiat I think crytpo needs to find a real world use. Tokens that can replace fiat even in limited scenarios can be the boost the cryptos need.
I really believe this can be achieved but it’s going to be a slow process.
Yup, definitely slow...........but I am hoping for steady :-)
With the many crypto currencies in the market itakes it meaningless to truly adopt any of these crypto coins as a medium of exchange im actual life. We need to adopt and stand with one or two crypto currencies and adopt as a major replacement for fiat curreencies
I concur
We have to change it. We have to bring it to the real buy and sale. If we don't, who else will does??
a couple bitcoin ATMs popped up around here but the fees are ridiculous
And they will be for a while.
Totally agree ... currency should be used
I agree in part but don’t think that an individual crypto needs to be a currency to have value. I do agree that they need to have a valid use case and actually solve a real world problem in order to generate value. The majority of the 2k cryptos currently out there do not. There will be a laglrgre degree of consolidation and if you are left holding a shite coin, you are going to hurt!