Let’s look into the future of payments with cryptocurrencies.
All of this is my subjective opinion and I’m not a financial advisor.
Bitcoin had a huge percent increase this year and don’t get me wrong, I still see future profit potential for it but for now the insane % increases are slowing down. For the whole cryptosphere to live on there must be real use case scenarios. Right now, you can own bitcoin and if you wanted to buy life essential things you have to convert back into fiat with bad conversion rate losses of 1 – 7 % which also takes a lot of time.
As of right now bitcoin has a 61 billion market cap. Other cryptocurrencies such as Litecoin, Dash, Monero, Zcash already offer more features like bitcoin and have a market cap that is just 2 – 4 % relative to bitcoin. I can understand that Bitcoin was the first Cryptocurrency with a beautiful code but…
...for me what stands out in terms of objective evaluation is simply Dash. It is exactly what I thought bitcoin should be. Fast, anonymous and user friendly. There is a lot of focus on new ICO’s and Segwit2x. Meanwhile Dash’s core development team which operates in a DAO (a decentralized autonomous organization) is making new innovations to bring blockchain based store of value into mainstream. Have you seen Dash Evolution yet? This presentation from Amanda B. Johnson really convinced me. With Dash evolution, you can create an account, like Paypal which is not on a server. It sends information back and forth to the Dash Network. The advantage is simple: you have an account on the blockchain and it’s accessible anywhere without complicated cryptographic addresses in it. Just a username, password and a recovery phrase.
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So, as I see it Dash is the most advanced cryptocurrency for user friendliness and will even improve in that category in the future. Bitcoin, Litecoin or other Coins could improve in this direction but right now I don’t see that.
What about other solutions for mass adoption? For me there are two Coins that stand out from the others: OmiseGo and TenX Pay Tokens.
In 2016 China already has 469.2 million users for mobile payments. That’s 34% of the Chinese population. If you find time you can read about the usage of m-payment solution in Asia in this article.
To sum it up: there is already an existing market with mobile wallets being provided by telecommunication, media and gaming companies. So, what I want to make clear here is that OmiseGo could potentially erase the bank aspect out of the equation and replace or compete in the fast-growing m-payment market especially in Asia.
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TenX’s solution is based on the use of Credit Cards. There’s also Monaco, but I prefer TenX because itsupports more tokens. With a TenX card it will be possible to spend Bitcoin, Ethereum and ERC20 tokens (all tokens on the Ethereum blockchain). That’s awesome because I think it doesn’t create the seemingly impossible need for cryptobelievers to replace all national currencies in an instant, cryptos could just be an alternative to fiat money.
My Portfolio
My long term crypto portfolio and by long term I mean at least 1 year of HODLing, is 50% Dash, 25% OmiseGo and 25% TenX. Why 50% in Dash? For me that’s like a hedge against a potential drop in Bitcoin’s price of 30-50% with the mere prediction that people will realize how Bitcoin doesn’t have usability. It could all go different, that’s why my scenario 2 is that OMG or/and PAY will rise and Bitcoin will stay the main store of value for crypto holders. Meanwhile Dash will also grow steadily.
Charts
From a chart perspective, right now I see TenX in a very good place to buy with a potential breakout from the trendline with unusual high volume.
Dash is holding its breakout above 207 relatively well with another trendline break.
OmiseGo is currently sideways (two highs, two lows). It is the most long-term bet as they didn’t release their application yet but I have good faith in the team of OmiseGo.
With all that we also must think about government regulations of course and how these Coins are working together or against the interests of political institutions. I alwys think "Everything can happen but nothing has to happen".
What do you think about mass adoption? I would love to hear your thoughts on it.
Good HODLing everyone 😉
Edit 27.09.2017: My opinion changed a bit in the last days. Dash is a very good cryptocurrency but Bitcoin is like Google in the early states of the internet. I realize that it's just too big of a name to get crushed in the near future. People like comfort and they love looking only at Bitcoin and ignore other Coins. I now hold 40% TenX, 20% OmiseGo and 40% in USDT waiting for a good opportunity. That's it ;)