Yes, that's correct. Utility in economic transactions "cash" is what drives the value over time. This why we nearly saw Ethereum flip the value on Bitcoin last summer. Heavy use = heavy demand.
Over time the most useful Cryptos will become the most valuable. Just the dollar was used to buy oil, goods and services. The larger the economics of scale the more value that is accrued. Good money drives out the bad. Unless Bitcoin makes significant upgrades better currencies will drive away slow expensive ones.
Even if lightening network was working 100% today, which is not. What happens if millions of people decide to all close their channels at one time? Segwit only has 40% adoption rate after one year and blocks are still at 1MB with only tps second. That's not going work.
@hedge-x Today we have Bitcoin debit cards. Hell, we even have debit cards for altcoins and icos that lead into a debit card. With this in play do you think we will see a mass adoption in our lifetime?
I know CC companies have blocked many the cards from working on the Visa network. My Shift card still works since I got in 2015. Is there any other Crypto debt cards I can use in US? I want one to spend Altcoins with.
Shift supports any coin that has coinbase support. We have one and it can be used with BTC, BCH, ETH, LTC and now ETC.
Yes, Bitpay (VISA) but they are like a bunch of 5th graders running a company. No altcoins ones that I know of in the US yet.
Do you know if Bitcoin Cash works on their debit card? I know they added BCH support for the payment processing. Yeah, it's a shame we all have to suffer like this. It really slows the Crypto adoption down for everyone. For a Crypto company that's been around so long they are incredibly slow to add.
I believe it does but I've yet to try it. I remember seeing a memo on my app about BCH being accepted.
*3 tps