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Adoption, per the article, seems to be the key driver for cryptocurrency in the long term. Right now it's hard to take cryptocurrencies seriously when its a wi
by larrydag 7y ago
Adoption, per the article, seems to be the key driver for cryptocurrency in the long term. Right now it's hard to take cryptocurrencies seriously when its a wildly speculative commodity-like instrument of wealth. When cryptocurrencies are adopted in the commerce marketplace then we'll see its effectiveness.
Do those in the cryptocurrency space see this a viable instrument for commerce or are they just happy to trade it like a commodity?
- nemild 7y agoWith the growth of stablecoins, there is an opportunity to prove out use cases that depend on stable value. Regardless, I do think there's value to smart contracts, even with a volatile/speculative currency: https://www.nemil.com/crypto/why-cryptocontracts-matter.html https://www.nemil.com/crypto/why-cryptocontracts-matter.html
- Yizahi 7y agoOf course stablecoins are useful - they are basically "dollars" without any additional regulations tied to real dollars, or at least have orders of magnitude less regulations. I.e. they allow for much more unregulated activities because "it's only tokens, not a money". And of course people will create more and more stablecoins because customers will exchange fiat money for random strings of digits.
- nemild 7y agoStablecoins are much more than that. It's the first openly programmable stable money, and can remove custody risk.
- lmpostor 7y agoCrypto is the gold standard of payment methods in several spaces already, I really don't see why it can't expand to more other than ease of use reasons. Imo it has to be a viable instrument for commerce, that is the core value that drives the speculation, even if 95% of the price is a result of speculation.